Building Your Emergency Fund

When times are good we all feel like the money will always be there for us. We get used to that regular paycheck and almost feel like we don't just earn it we also deserve it. So we spend to our hearts content until the dreaded day comes when the paycheck stops. We think it will be easy to just go to the employment agency show them our resumes and we will be back making more money than ever. Nothing could be further from the truth. The average time someone is unemployed can last a very long time. You may be shocked to find your skills are not as valuable anymore, or worse, your skills have no value! This is where you should have saved at least a years worth of income in your savings account to get you through this hard time. Failing to have an emergency fund is like living in a house made out of straw. The next strong gust of bad times will land you out on the street. So figure out how much money you would need to survive for a year without work and get started on saving that money before you buy that next cup of gourmet coffee.

Commuting on a Budget

If you live in a big city there can be nothing worse than trying to get to and from your place of employment. I used to take public transit buses, trains and subways to get to work for many years. My employer paid for it so I always made sure to take advantage of this great benefit. But for most people its not an option. In most cities, public transportation is a nightmare. The buses may run only every hour and there is no guarantee it will even show up. The most effective means of transportation is still having a car. When you are just starting out in life it is usually best to get a car that is cheap to buy and cheap to maintain. You could buy a car from a private owner but beware. You really have no idea what problems this car has and it could end up being more trouble than its worth. If you go to a used car lot just pay attention to the most crucial things such as how many miles the car currently has on it, the year the car was made and the quality of the interior. Any used car you buy should not have more than 50,000 miles on it. Why? Because most cars began to develop major repair problems at around 75,000 miles and you want something that is going to last you for at least 5 years or as long as you can save for the next car. Also be sure not to buy a car that gets less than 25 miles to the gallon. Gas is pretty expensive these days and you don't want to be filling up a $60 tank of gas every other day. In the end its not a fashion statement to have a car as this point in your life it's about getting to work and getting paid.

Excellent Credit Can Get You Great Cash Back Deals

I went online and read this great article about a cash back offer of 1% cash back plus additional 50% at the end of the year for just making purchases with their credit card. This is way better than the 1% I am currently getting for gift cards. They also pay you $100 bucks if you spend $500 in the first 3 months of getting the card. Be sure to shop around as there all all sorts of great deals right now because so many people are using debit cards instead of credit cards. So if you have excellent credit and always pay your full balance off every month I recommend taking a look.

Credit Card Points

I've never paid much attention to credit card points. I usually used the credit card with the highest limit. Or just whichever one I happen to pull out. You use a certain card and you are given a point for every dollar you spend. Once you have accumulated thousands of points you can buy a gift card or some item through the credit card company website. I always thought it was sort of a gimmick. But I recently discovered it really does pay off! You have to do your research though. I found that my Bank of America credit card didn't value the amount of points as high as Citibank's card. B of A was almost 50% lower which made me realize I should be only using Citibank from now on. So by the end of the year if I accrue $5,000 in spending I get a gift card for $50!! All because I used my credit card to buy groceries, car maintenance, and xmas gifts. Look into the benefits offered by your credit cards and see which one is best for you!

Choosing a College

So you have finally made it to the point where you are ready to get that higher education? The dream of going to college is a big one. Be sure you choose a specific school for the right reasons. You may hear people say a school is good or bad or the best. The school you choose will effect the future and that I can guarantee. What you may not consider is the cost of school. Some schools are a few thousand dollars a year and others are tens of thousands of dollars a year. Student loans are great and you don't have to start paying them back until you graduate. The downside is that the average person ends up paying those loans for the rest of their lives. They pick an Ivy League school and soon find out they could have gotten the same education they wanted at a state school. It comes down to your goals. Do you want a degree to obtain a certain job? Or are you trying to learn a certain skill? Maybe you just love learning? It's really different for everyone so choose wisely and don't focus too much on how fancy the school is. In the end it is about what you want and what you can really afford.