For many people, a vehicle is a necessity. We often depend on our vehicles to get us to and from work every day, transport children to events, and even for pleasure. Because they are such an important aspect of your life, you want a vehicle that is reliable, comfortable, and maybe even a bit stylish. The vehicle choices are almost endless, so finding the right combination of wants and needs with an affordable price tag can be challenging. Here are 5 of the biggest mistakes you should avoid when purchasing your next vehicle that can save you thousands of dollars each year. If you aren't buying a new car there are still plenty of things you can do right now that will help you save money on related expenses: Don't Make These Mistakes When Buying a Car originally appeared on About.com Financial Planning on Friday, December 9th, 2011 at 12:42:11. Permalink | Comment | Email this
New college grads face stiff competition in this job market. Unlike in the past when it may have been relatively easy to find a job, with high unemployment and stricter hiring standards you really need to set yourself apart in order to land that first job. So, for all of you recent grads, here are a few job hunting tips to hopefully get you off on the right foot. Job Hunting Tips for New Grads originally appeared on About.com Financial Planning on Tuesday, November 29th, 2011 at 20:39:33. Permalink | Comment | Email this
People love the idea of owning a home, and sometimes that allure makes people do the wrong thing. That's where risky mortgages come in. For decades, the 30-year fixed-rate mortgage was the gold standard. You put 20 percent down, you got a 30-year loan, and that was all she wrote. But in recent years the types of mortgages offered have made a mess of the marketplace, as can be seen with the current financial crisis. Now you can get interest-only loans, 40-year loans, adjustable rate mortgages, and so on. All of these new loans make it easier to make payments on a house, but the problem is they usually put you in a worse financial situation. Here's what you need to know to avoid some of the more risky home loans out there. Pick The Right Mortgage originally appeared on About.com Financial Planning on Sunday, January 22nd, 2012 at 20:02:50. Permalink | Comment | Email this
Owning a home is part of the American dream. It has long been considered one of the cornerstones to building wealth. Even so, there is more to buying a house than simply finding one you like and buying it. You need to take into consideration the true costs of buying a home, the things you gain and the things you lose, how much you can afford to spend, and even what type of mortgage is best. So, before you jump into this major purchase, take the time to consider everything that is involved. Things to Think About Before Buying a Home originally appeared on About.com Financial Planning on Wednesday, December 28th, 2011 at 10:41:25. Permalink | Comment | Email this
With the housing market still in the dumps and mortgage rates at record lows, a lot of people are considering buying a home for the first time. Taking advantage of depressed real estate prices and cheap lending does indeed make this a buyer's market. But buying a home is no simple decision. In fact, it may be one of the largest financial decisions many people make in their lifetime. So rather than jump in head first it pays to make sure owning a home is really the right decision. Here's how to determine if you are ready to buy a home. Ready to Buy a Home? originally appeared on About.com Financial Planning on Tuesday, January 24th, 2012 at 11:44:57. Permalink | Comment | Email this
With mortgage rates at historic lows, many new first-time buyers are entering the market. It is a great time to buy a home, but if you don't understand everything that goes into the transaction it can end up being quite a financial hit. One thing many buyers don't fully understand are closing costs. There are a bunch of different things that can get rolled into the closing costs, and it could come as a surprise when it's time to sign the papers. So, taking the time to fully understand what closing costs are, and what you may be required to pay, will make you a better shopper. Be Prepared for Closing Costs originally appeared on About.com Financial Planning on Friday, November 25th, 2011 at 20:36:08. Permalink | Comment | Email this
Gas prices are relatively high and the cost of groceries are increasing faster than inflation. People everywhere are feeling the financial pressures of today's economy, and for most, the thought of saving money is a distant one. When times are tough, saving money can be difficult. Even if you're living paycheck to paycheck, there are ways you can save if you follow a few simple rules Start Small Saving money is a marathon, not a sprint. If you want to save up $1,000, it is much easier to accomplish that goal in a year compared to two months. In order to put your savings plan to work, the key is to start small. Can you find a way to save $5 each week? Think about it--five dollars a week is less than a lot of fast food value meals or even a few fancy coffees. Five dollars could be shaved off of each weekly grocery bill by buying a few things on sale or buying store brands. When you start with a small amount, you can find ways to save, and it adds up over time. So, saving five dollars a week doesn't sound like much, but that's okay. If you saved just the five dollars a week for a year, you'd have $260, less any interest. If you're married and your spouse does the same, you will have amassed over $500 painlessly. But the idea isn't to start small and stay small. You may start at five dollars a week, but once a few weeks or a month goes by and you're used to saving that money, bump it up to $7 or even $10 each week. If you could live without five extra dollars, you could probably find you can get by without seven dollars just as easily. These small incremental weekly increases will gradually change your spending habits so that you become accustomed to how much money you have available, and before you know it, you're stashing away a nice amount of money. Make Saving Automatic You've heard it before, but to make saving work, you need to pay yourself first. If you wait until all the bills are paid, groceries bought, and money otherwise spent before seeing what is left over at the end of the week, you'll always come up empty. The key to saving is to treat your savings as a bill. You find a way to pay the phone bill each month, don't you? Well, think of your weekly or monthly savings as a bill that has to be paid, and pay it before it gets spent on frivolous things. To make sure you pay yourself first, you need to create an automatic savings plan. This is best accomplished by setting up direct deposit with your paychecks so that a little bit goes into savings on the day you get paid. That way, on payday you don't have to worry about making a deposit yourself, and you have already put that savings out of sight and out of mind. If you don't have direct deposit set up, you can always create an automatic transfer between accounts with your bank. You can schedule a weekly, bi-weekly, or monthly automatic transfer that moves money from your checking to savings. If you don't have to think about it, it's much more likely to get done. Saving Money in a Tough Economy originally appeared on About.com Financial Planning on Sunday, January 15th, 2012 at 18:46:50. Permalink | Comment | Email this
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