First blog from ms Words

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20 Lazy Ways to Save Money

20 Lazy Ways to Save Money

Katie Adams
Friday, August 21, 2009

This article is part of a series related to being Financially Fit

While the media can't decide if the recession is nearing its end or not, we do know that there hasn't been a tremendous surge in wages, job creation or the stock market. Consequently, most of us are staying pretty conservative on our spending. Here are a few relatively simple ways to keep an eye on your pennies while you're waiting for that brighter economic future to arrive.

1. Schedule automatic payments. Have (at least) your fixed monthly bills paid automatically to avoid missing a payment and having to fork over extra money for late fees and/or interest. You can set up auto pay features through your bank's online bill paying service or by arranging it directly with the company or service provider.

2. Eat your groceries. Did you know that Americans regularly throw away nearly 15% of the food they buy at the grocery store each year? That can add up to hundreds or, depending on your supermarket budget, thousands of dollars each year. Save money by actually eating what you buy. Not sure how? Bypass the bookstore and borrow a cookbook from the library!

3. Bundle services. If you're paying different vendors for similar services you may be overpaying. Call your communications providers to see what price you'll be quoted if you switch and bundle your internet, phone and cable TV services.

4. Pay off credit card. If you're not paying off your credit card balance each month you're paying interest and, for most Americans, it's a pretty steep rate. Pay it off and you could save a tidy sum by eliminating your interest charges.

5. Mark your calendar. Whenever you rent something - library books, videos, etc. – mark it on your calendar and save money by avoiding those quickly mounting late fees. Many stores and libraries also now offer email reminders to help the constantly harried so sign up for the extra help!

6. File your taxes on time. Or if you need to file an extension at least pay what you owe on the due date. You'll avoid annoying notices from the IRS and, more importantly, save on penalties, fees and interest.

7. Roll it over. If you're switching jobs and you can't leave your 401(k) invested with your current company, roll your 401(k) into either your new employer's 401(k) or an IRA within the 60-day window instead of withdrawing the money. By doing so you'll keep the money invested - and earning interest - and avoid those nasty taxes as well as the additional 10% penalty.

8. Switch credit cards. If you're carrying a balance on a high interest rate credit card check out other card issuers to see if you could transfer your balance to one with a lower interest rate and fewer fees. Use sites like Creditcard.com or Bankrate.com to compare card rates, and pay careful attention to how long those terms last so you don't wind up paying a higher rate and erasing any potential savings.

9. Use your privileges. Are you an AAA member? Do you belong to the AARP? What about your local credit union? Check organizations you have memberships with to see if they offer buying privileges or discounts.

10. Rent instead of buy. You might be excited to expand your driveway but don't let your enthusiasm overtake good sense. Hold off on buying that jackhammer and think before you spend on big-ticket items or items that you'll use once or infrequently (like movies and books).

11. Buy instead of rent. Don't pay the exorbitantly high prices charged by rent-a-center type stores for items you'll use regularly and keep long-term like computers, furniture and appliances.

12. Ask. That's right, just ask. You can't be paying any more than you currently are, so why not ask if you can get the interest rate lowered on your credit cards or loans? Also, ask for a discount on services like your wireless phone, trash removal or pet care instead of switching to another vendor, and of course ask "is that the best you can do" on any big ticket purchases like cars, appliances and furniture.

In a tight economy it might be worth the seller's while to cut the price instead of losing the sale, and you'll both benefit in the end!

13. Just say no. To the extended warranty that is. They hardly ever make financial sense. Weigh the repair or replacement cost (and if you would even need or want to repair or replace it down the road) against the cost of the warranty and graciously pass when offered.

14. Have the awkward conversation. Americans average more than $750 yearly on holiday gifts and that's probably much more than most would like to spend. If your gift-giving is costing you more than you can realistically afford there's a good chance it’s more than your relatives can afford (or would like to spend) as well. Take the plunge and broach the subject. Offer a more reasonable alternative (say, limit giving to children or put a dollar amount on gifts per person). More than likely your relatives will be grateful SOMEONE finally raised the subject and you’ll save money in the process.

15. Eat at home. If the idea of cooking for yourself seems like too much work at least opt for take-out instead of dining out - you'll save on the tip, the alcohol and most likely the cost for appetizers or dessert.

16. Balance your checkbook. It might take a few minutes but it's something you should be doing anyway and it can pay off huge dividends by helping you avoid bouncing a check and incurring steep overdraft fees (not to mention a little embarrassment)!

17. Stick with your bank. When withdrawing cash drive or walk the extra minute it takes to use your bank's ATM and avoid the fee that could come with another bank's machine. Better yet - switch to a bank that doesn't charge fees!

18. Use your TV. If you're paying for cable why not use all of it - and save some money in the process? Cancel the video membership and watch movies through cable movie packages you're already paying for or check out your free "on demand" shows. Drop the gym membership and work out at home to channels like FitTV, and bag the magazine subscriptions and watch the same shows (like Martha Stewart) on TV instead.

19. Quit those bad habits. Smoking, overeating and drinking are costly habits to maintain. Okay - this is the "lazy" way to save, not necessarily the easy way. But you can save boatloads of money in two ways by saying sayonara to your favorite vices: (1) You'll save money by cutting out on the regular spending it's costing you, and (2) you'll probably save on insurance premiums and long-term health costs. It's the ultimate win-win.

20. Forget the pet. Sure it sounds heartless but did you realize that welcoming home a little Fido can cost you an average of more than $1,500 a year - or $15,000 over 10 years? Feline fluffies are pricey too - just under $1,000 a year or approximately $9,000 for 10 years of care. Looking at the long-term picture, that's a new car or the down payment on a home! Keep walking right past that pet store and keep the money in your pocket instead.

The recession won't last forever, but in the meantime take advantage of these lazy ways to stay on track financially, and develop some pretty good money management habits for the future!

Why Obama Won

http://usliberals.about.com/od/obamavsmccainin08/a/ObamaWin.htm

Nov 5 2008


Barack Obama decisively won the presidential election, for many solid reasons and due to many factors, including weaknesses of his Republican opponent, Sen. John McCain.

This article enumerates and explains five top reasons why Obama won win the 2008 race to become the 44th President of the United States.


Reason #1 - Empathy and Genuine Help for Middle-Class Americans

Barack Obama "gets" what it means for a family to worry financially, to work hard simply to make it, and to do without essentials.

Obama was born to a teenage mother, abandoned by his father at age two, and raised largely in a small apartment by his middle-class grandparents. At one point, Obama, his mother and younger sister relied on food stamps to put meals on the family table.

Michelle Obama, close counselor and best friend to her husband, and her brother were similarly raised in modest circumstances in a one-bedroom apartment on the south side of Chicago.

Both Barack and Michelle Obama speak frequently about what it means for middle-class Americans to be at a disadvantage financially and otherwise.

Because they "get" it, both Obamas refer with heartfelt eloquence to middle-class fears, including to:

-the climbing unemployment rate
-the staggering home foreclosure rate gripping the nation crashing 401(k) and pension plans, leaving retirements in limbo
-48 million Americans without health care insurance
-high percentages of public schools failing our children
-the continuing struggle of middle-class families to balance work and parenting demands

In vivid contrast, John and particularly Cindy McCain exude an aura of financial insularity and well-heeled elegance. Both were born wealthy, and have been quite wealthy for their entire lives.

When cornered by Pastor Rick Warren several months ago, John McCain defined "rich" as " I think if you're just talking about income, how about 5 million."

Middle-class anger is palpable about economic fairness in these unusually tough financial times, and subsequent to what many view as President Bush's $700 billion bailout of rich Wall Streeters, .

Obama offered actual, understandable policy solutions to help middle-class Americans, including:
-a detailed 12-point program to repair the economy for middle-class families, including a $1,000 tax cut, creation of 5 million new jobs, protection of family homes from foreclosure, and reform of unfair bankruptcy laws.
-a Small Business Emergency Rescue Plan which includes emergency lending for small and family-owned businesses, special tax incentives and tax cuts, and expansion of Small Business Administration support and services.
-a specific plan to reform Wall Street practices, including new regulation of the financial markets, to blunt the greedy influence of special interests, crackdown on manipulation of financial markets, and more.

John McCain's tin ear on middle-class financial woes were evident in his prescription for the economy: more tax-cuts for major corporations, and continuation of the Bush tax cuts for U.S. millionaires. And this McCain stance is consistent with his stated desires to slash Medicare and privatize Social Security.

The American public is fed-up with failed Bush/McCain economics, which claim that prosperity will eventually "trickle down" to everyone else.

Obama won the presidential race largely because voters correctly perceive that he, and not John McCain, care about and will address middle-class economic struggles and inequities.

Full Speech of Barack Obama

http://www.youtube.com/watch?v=Wh5VjEjT12c

http://www.youtube.com/watch?v=WI7B-V0GnJw

Herewith is the full text of president-elect Barack Obama's victory speech Tuesday before a crowd of some 125,000 cheering and tearful supporters:

The Star

"If there is anyone out there who still doubts that America is a place where all things are possible; who still wonders if the dream of our founders is alive in our time; who still questions the power of our democracy, tonight is your answer.

"It's the answer told by lines that stretched around schools and churches in numbers this nation has never seen; by people who waited three hours and four hours, many for the very first time in their lives, because they believed that this time must be different; that their voice could be that difference.

"It's the answer spoken by young and old, rich and poor, Democrat and Republican, black, white, Latino, Asian, Native American, gay, straight, disabled and not disabled Americans who sent a message to the world that we have never been a collection of Red States and Blue States: we are, and always will be, the United States of America.

"It's the answer that led those who have been told for so long by so many to be cynical, and fearful, and doubtful of what we can achieve to put their hands on the arc of history and bend it once more toward the hope of a better day.

"It's been a long time coming, but tonight, because of what we did on this day, in this election, at this defining moment, change has come to America.

"I just received a very gracious call from Senator McCain. He fought long and hard in this campaign, and he's fought even longer and harder for the country he loves. He has endured sacrifices for America that most of us cannot begin to imagine, and we are better off for the service rendered by this brave and selfless leader. I congratulate him and Governor Palin for all they have achieved, and I look forward to working with them to renew this nation's promise in the months ahead.

"I want to thank my partner in this journey, a man who campaigned from his heart and spoke for the men and women he grew up with on the streets of Scranton and rode with on that train home to Delaware, the Vice President-elect of the United States, Joe Biden.

"I would not be standing here tonight without the unyielding support of my best friend for the last 16 years, the rock of our family and the love of my life, our nation's next First Lady, Michelle Obama. Sasha and Malia, I love you both so much, and you have earned the new puppy that's coming with us to the White House. And while she's no longer with us, I know my grandmother is watching, along with the family that made me who I am. I miss them tonight, and know that my debt to them is beyond measure.

"To my campaign manager David Plouffe, my chief strategist David Axelrod, and the best campaign team ever assembled in the history of politics you made this happen, and I am forever grateful for what you've sacrificed to get it done.

"But above all, I will never forget who this victory truly belongs to it belongs to you.

"I was never the likeliest candidate for this office. We didn't start with much money or many endorsements. Our campaign was not hatched in the halls of Washington it began in the backyards of Des Moines and the living rooms of Concord and the front porches of Charleston.

"It was built by working men and women who dug into what little savings they had to give five dollars and ten dollars and twenty dollars to this cause. It grew strength from the young people who rejected the myth of their generation's apathy; who left their homes and their families for jobs that offered little pay and less sleep; from the not-so-young people who braved the bitter cold and scorching heat to knock on the doors of perfect strangers; from the millions of Americans who volunteered, and organized, and proved that more than two centuries later, a government of the people, by the people and for the people has not perished from this Earth. This is your victory.

"I know you didn't do this just to win an election and I know you didn't do it for me. You did it because you understand the enormity of the task that lies ahead. For even as we celebrate tonight, we know the challenges that tomorrow will bring are the greatest of our lifetime, two wars, a planet in peril, the worst financial crisis in a century.

"Even as we stand here tonight, we know there are brave Americans waking up in the deserts of Iraq and the mountains of Afghanistan to risk their lives for us. There are mothers and fathers who will lie awake after their children fall asleep and wonder how they'll make the mortgage, or pay their doctor's bills, or save enough for college. There is new energy to harness and new jobs to be created; new schools to build and threats to meet and alliances to repair.

"The road ahead will be long. Our climb will be steep. We may not get there in one year or even one term, but America I have never been more hopeful than I am tonight that we will get there. I promise you we as a people will get there. "There will be setbacks and false starts. There are many who won't agree with every decision or policy I make as president, and we know that government can't solve every problem. But I will always be honest with you about the challenges we face. I will listen to you, especially when we disagree. And above all, I will ask you join in the work of remaking this nation the only way it's been done in America for 221 years block by block, brick by brick, calloused hand by calloused hand.

"What began twenty-one months ago in the depths of winter must not end on this autumn night. This victory alone is not the change we seek it is only the chance for us to make that change. And that cannot happen if we go back to the way things were. It cannot happen without you.

"So let us summon a new spirit of patriotism; of service and responsibility where each of us resolves to pitch in and work harder and look after not only ourselves, but each other. Let us remember that if this financial crisis taught us anything, it's that we cannot have a thriving Wall Street while Main Street suffers in this country, we rise or fall as one nation; as one people.

"Let us resist the temptation to fall back on the same partisanship and pettiness and immaturity that has poisoned our politics for so long. Let us remember that it was a man from this state who first carried the banner of the Republican Party to the White House a party founded on the values of self-reliance, individual liberty, and national unity. Those are values we all share, and while the Democratic Party has won a great victory tonight, we do so with a measure of humility and determination to heal the divides that have held back our progress. As Lincoln said to a nation far more divided than ours, 'We are not enemies, but friends though passion may have strained it must not break our bonds of affection.' And to those Americans whose support I have yet to earn I may not have won your vote, but I hear your voices, I need your help, and I will be your president too.

"And to all those watching tonight from beyond our shores, from parliaments and palaces to those who are huddled around radios in the forgotten corners of our world our stories are singular, but our destiny is shared, and a new dawn of American leadership is at hand. To those who would tear this world down we will defeat you. To those who seek peace and security we support you. And to all those who have wondered if America's beacon still burns as bright tonight we proved once more that the true strength of our nation comes not from our the might of our arms or the scale of our wealth, but from the enduring power of our ideals: democracy, liberty, opportunity, and unyielding hope.

"For that is the true genius of America that America can change. Our union can be perfected. And what we have already achieved gives us hope for what we can and must achieve tomorrow.

"This election had many firsts and many stories that will be told for generations. But one that's on my mind tonight is about a woman who cast her ballot in Atlanta. She's a lot like the millions of others who stood in line to make their voice heard in this election except for one thing -- Ann Nixon Cooper is 106 years old.

"She was born just a generation past slavery; a time when there were no cars on the road or planes in the sky; when someone like her couldn't vote for two reasons because she was a woman and because of the color of her skin.

"And tonight, I think about all that she's seen throughout her century in America the heartache and the hope; the struggle and the progress; the times we were told that we can't, and the people who pressed on with that American creed: Yes we can.

"At a time when women's voices were silenced and their hopes dismissed, she lived to see them stand up and speak out and reach for the ballot. Yes we can.

"When there was despair in the dust bowl and depression across the land, she saw a nation conquer fear itself with a New Deal, new jobs and a new sense of common purpose. Yes we can.

"When the bombs fell on our harbor and tyranny threatened the world, she was there to witness a generation rise to greatness and a democracy was saved. Yes we can.

"She was there for the buses in Montgomery, the hoses in Birmingham, a bridge in Selma, and a preacher from Atlanta who told a people that 'We Shall Overcome.' Yes we can.

"A man touched down on the moon, a wall came down in Berlin, a world was connected by our own science and imagination. And this year, in this election, she touched her finger to a screen, and cast her vote, because after 106 years in America, through the best of times and the darkest of hours, she knows how America can change. Yes we can.

"America, we have come so far. We have seen so much. But there is so much more to do. So tonight, let us ask ourselves if our children should live to see the next century; if my daughters should be so lucky to live as long as Ann Nixon Cooper, what change will they see? What progress will we have made?

"This is our chance to answer that call. This is our moment. This is our time to put our people back to work and open doors of opportunity for our kids; to restore prosperity and promote the cause of peace; to reclaim the American Dream and reaffirm that fundamental truth that out of many, we are one; that while we breathe, we hope, and where we are met with cynicism, and doubt, and those who tell us that we can't, we will respond with that timeless creed that sums up the spirit of a people:

"Yes we can. Thank you, God bless you, and may God Bless the United States of America."

EPF 8%???

What do u think of EPF contribution going down? Is it beneficial for us? 

As chinese proverb says, 'RELAX FIRST (LAH) , SUFFER LATER'.... hahaha

EPF down from 11% to 8%

PETALING JAYA: Employees can choose to reduce their EPF contributions to increase their disposable income next year.

The Government has allowed employees to reduce their contributions by three percentage points from 2009 to 2011.

Presently, the employer’s EPF contribution is 12% while employees contribute 11%.

“With the reduction, the total contribution is still at a reasonable rate of 20%, which is 12% from the employer and 8% from employee,” said Deputy Prime Minister Datuk Seri Najib Tun Razak.

Najib, who is also Finance Minister, said if all contributors chose to reduce their contributions, it would come up to RM4.8bil annually.

“Assuming that only 50% of contributors take up the option, private spending is expected to go up by RM2.4bil,” he said.

“A person earning RM2,000 could gain an extra disposable income of RM60 monthly, while one earning RM6,000 will have an extra RM180 to spend.”

On the RM5bil fund injection into government investing agency Valuecap to stimulate capital market activity, Najib said similar moves had been implemented in other countries such as the Tracker Fund in Hong Kong in 1998, and recently by Qatar Investment Authority and the largest pension fund in Korea.

“The extra fund is acquired from EPF loans which is guaranteed by the Government. Therefore, the loan does not only guarantee higher returns compared with deposit rates from banking institutions but is also a minimum risk investment to EPF,” he said.

But, some workers’ unions felt that savings will be reduced and it will affect the people’s retirement funds.

National Union of Bank Employees (NUBE) secretary general J. Solomon said he hoped that the voluntary offer was only for the time being during the economic crisis.

MTUC president Syed Shahir Syed Mohamud said that reduced savings would not benefit contributors.

“When savings go down it will be followed by a decrease in dividends.