[Home]       [Contact Us] 

Bookmark Us  

Yahoo  MSN

Save Money - Make Money

Buying a Car? Here's How to Save $10,000
By Douglas Hanna

What's more exciting than driving off an auto dealer's lot with a beautiful, brand new automobile, complete with that wonderful new car smell?

Well, how about the excitement of saving up to $10,000 on a new car? It's possible. In fact, it's easy, if you just define "new" as new for you but not necessarily brand new.

The best deals today by far are on cars coming off a two-year lease or "program" cars, that is, cars that have been part of a rental fleet.

Here's a personal example. Two years ago, I decided it was time to find new wheels. I used a site called cars.com to search for the car I wanted -- a Chrysler Sebring. I had chosen this car because I had rented one on a business trip and liked its looks, maneuverability and gas mileage.

Edmunds.com, another site I like, lists the price of a 2005 Chrysler Sebring as $19,595. I’m going to assume that in 2003, the price was slightly lower, let’s say $17,800.

I was patient and searched cars.com and a number of other sites for about three weeks. I finally found a beautiful, dark blue 2003 Sebring with 13,900 miles listed at $12,500. I drove to the dealer that day and eventually purchased the car for $11,800,

My Sebring was a program car and had been in service as a rental unit for about a year. However, I saved about $6,000 vs. a new 2003 Sebring on a car that had just 14,000 miles and more than two years left on a three-year bumper-to-bumper warranty. Plus, the car looked pretty close to brand new to me.

Naturally, you will save even more with more expensive vehicles.

For example, one dealer here in my city is advertising 2004 Buick LeSabres that had an original manufacturer’s list price of $28,495 for $14,981. This dealer also has 2005 Pontiac Bonnevilles with an original manufacturer’s list price of $28,586 for just $14,981.

Okay, I know that nobody pays the original manufacturer’s list price. So, for the sake of the example, let’s suppose these two cars actually sold for around $25,000. This means you would still save about $10,000 and that’s with no haggling.

Maybe there was a time when buying a used car didn’t make a lot of sense. But, given the price of new cars today, you are far ahead of the game to find the car you want that’s one or two years old. If that car has a year or two left on its bumper-to-bumper warranty and a 50,000 or 70,000 mile warranty on the drive train, you can hardly go wrong.

Shop carefully and you can probably even find the car of your dreams as a “certified” used car. Each car manufacturer defines certified a bit differently but here’s one example. A certified used car from a Ford dealer goes through a rigorous 115 point inspection, and comes with a 6-year, 75,000 mile limited power train warranty, a vehicle history report, 24-hour roadside assistance, and several other nice features. While you will pay a bit more for a certified vehicle, it does come with a bit more peace of mind.

Can you save $10,000 on your next car? It’s easy if you just remember that a one- or two-year old car is new to you.

Have you heard about HD radio technology? It makes AM sound as good as FM and FM sound almost like you were listening to a CD ... and its free! To learn more about this amazing new technology, just go my Web site, http://www.hd-radio-home.com, to get all the buzz. Douglas Hanna is a retired marketing executive and the author of numerous articles on HD radio and family finances.t .

Article Source: http://EzineArticles.com/?expert=Douglas_Hanna

What do you do with your $10,000.

Now that you have read the article by Mr. Hanna, what will you do with your $10,000.? More than that, what will you do with the extra money you save on registration?

for an example, lets say that your net savings with a used car loan and your reduced annual registration is just $100 difference per month out of pocket.   Do you know how much money you would have in 20 years if you put that in your 457 or deferred compensation fund?

With an initial deposit of $100.00, monthly contributions of $100.00 and an assumed annual interest rate of 8% for 20 years, you will earn a total of $59394.72.

Don't forget your tax savings on the $100.00 for depositing pre-tax.

Run the numbers yourself and see how much you can save.

Get more great money making information in Financial Health And Wellness clicking >>HERE

 

Initial Deposit Amount: $
Monthly Contribution: $
Assumed Annual Return:	%
Number of years:

Budget Planning - It's Elementary My Dear Watson By Cheryl Johnson

 

Does it feel like you have to be Sherlock Holmes to solve the mystery behind balancing your personal budget? Are you living a mysterious thriller where your realization of "financial independence and security" is a vicious repeating cycle of debt? Don’t be afraid…...Somehow you’ve ended up lost in the “plastic zone”. ' The "plastic zone" is a scary place. But you’re not alone. There are millions of people today living the same mysterious life in the plastic zone. Remember green money? You know, that green paper with presidents proudly displayed on them. They have virtually disappeared from the “plastic zone.” Is real Money a foreign object to you? Is the balance of your checking account mysteriously stuck at Zero? It’s time to solve the mystery. You don’t have to be a financial wizard to solve this mystery. And you certainly don’t have to be Sherlock Holmes. You see it really is an elementary concept. If you ask any elementary school student they'll tell you that you can't take 10 from 5. There can be no negative integers in this equation. Simply put, you can’t spend more than you have! You have to fit your "living" within your "means." For most of us living in the plastic zone, this means making some serious changes in our spending habits. It seems an impossible feat to reduce debt while still building a foundation for your financial security and independence. It Can Be Done! And it is "elementary my dear Watson!" KNOW WHERE YOUR MONEY GOES! ~The first step is to realize where your money goes. How are you spending it? This requires a little recording keeping but is not difficult. Simply write down every purchase you make, that is not a monthly bill, for at least a week. This includes every check, debit, credit card, and cash transaction made (if married, your spouse must do this also). When finished sort these into appropriate categories to plug into your budget later. For example; dining out, lunch at work, groceries, coffee, gasoline, snacks, well you get the idea. ~Second lets tackle that debt. The monkey on your back will always insist on being fed until you take control of your money and say NO MORE! Make a commitment to stop using the credit. You must make a decision to invest in yourself from now on. Not the credit card companies. Take control by knowing what you owe , what you’re paying, and how much it is costing you. Make a list. Include Creditors Name, Amount Owed, Interest Rate, Current Minimum Monthly Payment. Add up all of your current minimum monthly payments. This is your monthly debt reduction payment for the life of the debt. You will pay this consistent amount each month until the debt is paid in full. Roll down freed up monies from one creditor to the next as accounts are paid. For example: your list of payments include a visa you must currently pay $80 per month. You will make that $80 payment regardless of the minimum due (unless for some reason the payment goes up) until the debt is paid. When it is paid you will take that $80 and apply to another creditors monthly payment. This is the secret to paying them off before you die! And, still have time to enjoy a debt free lifestyle. ~Next, you have to write down regular monthly expenses. Things like the mortgage, cable, phone, electric, car payment,. Any expense that you pay every month. Insurance payments can be included if you pay monthly payments instead of a lump sum. Some of these expenses may not be the same each month ( like the electric bill). You should figure an average monthly amount for these. If your provider offers a budget plan where your payment can be a consistent amount each month, this makes budgeting these bills much easier. So do it!

 

Insurance of all types is a necessary evil of everyday life that most of us cannot live without. Auto, home, and life insurance policies are something everyone should have to protect their current and future assets and in most states, auto insurance is required by law.

There are several ways to save a significant amount of money when purchasing insurance and I  personally could have saved nearly 20% this year. Instead, I chose to increase my coverage for the same price.

The first way to save on insurance is to increase your deductibles. This is the amount you will be responsible for before your insurance company pays. 

An example of this would be if you received damage to your home or car that costs $1,000 to repair and you have a $500 deductible, your insurance company will pay you the difference of your deductible and the cost of the repair or $500.

The higher the deductible the cheaper the insurance.  This is something that you should spend some time thinking about.  The down side is that you will have to pay the deductible out of your pocket. If you choose a higher deductible, say $500 then you should have this saved in an emergency fund or at least be able to get $500 if you have a claim.

With some companies you may find the savings between $500 and $250 deductibles vary small and should consider the lower deductible.

The second way to save on insurance cost is to have multiple policies with the same company.

If you have home owners, renters or life insurance with the same company, they will often provide a discount.

The third way to save money on insurance is to shop around. I cannot stress this enough.  Insurance company prices change almost every year, some reducing their prices considerably to compete.

You do not have to wait for your insurance renewal date to change companies.

We have several links that will provide you with multiple insurance quotes from different companies competing for your business. It only takes a few minutes to fill out the simple request form and you could save hundreds of dollars to put back in your budget.

Take advantage of this opportunity to save money and reduce your debt. If you save just $50 per month at an 8% annual return, over 20 years you will earn near $30,000.

Financial Health And Wellness is a lifestyle of saving a little here and a little there that will add up to a lifetime of savings. 

Take the time to shop around and put your savings into the compound interest calculator to see how much you will gain. 

Budget Planning - It's Elementary My Dear Watson cont.

~Now figure in the variable expenses. These are things like car maintenance, home maintenance, property taxes, income taxes, insurance’s that are not paid monthly, pet care (vet bills, and medicines), your family’s medical expenses (physician co-pays, deductibles, prescriptions (or prescription co-pays). Go through your financial records and write down every expense you can find that did not occur on a regular monthly basis. When you’re done, add the total amounts for the year, divide by twelve, and this will give you an estimate of what you should be setting aside each month to budget these expenses. This is a variable expense monthly allowance to be included in your budget as a monthly expense. You set aside this amount each month (maybe in a savings or second checking account).

This is one of the most important steps in the budgeting process. The one step that most of us forget to do. The biggest budget busters are these "unexpected expenses". They’re not really unexpected. Most of us just have a tendency to treat them as if they are unexpected. You don’t plan for them. Consequently you will not be financially prepared when they need to be taken care of. You know that the car and home require some level of maintenance, but do you actually have a plan to pay for that expense? Or, when the hot water heater goes up, will you be forced to resort to the help of the credit card companies. This is what they hope you will do. Of course the property taxes have to be paid. Will you have the payment when it is due?

To reduce debt and maintain a successful budget you have to plan for these "variables". If not, you will inevitably use the credit cards to bail out and you’ll be defeating yourself. The variable expense allowance in your monthly budget will allow you save for these expenses and will be your defense against creating more debt. This is an essential step in building financial security, investing in yourself, and remaining debt free.

~ Set a reasonable amount for your monthly savings allowance. This will be an emergency fund that can bail you out in case of tragic circumstances such as a serious illness or unemployment. Start with 10-15 % of your income and cut back to as little as 5% if you need to balance the budget. But, do save something! Anything is better than nothing. If you have to start small, as your finances improve, you should increase your savings allowance to reach at least 10% of your income.

Of course, once you have all of these figures in place you may find that you don’t have enough money to cover all the expenses. You not alone. I was amazed at how much more I was spending than I was earning. It finally made sense to me why I couldn’t get ahead. Why my debt kept increasing no matter how hard I tried to budget. This is when you have to start eliminating unnecessary spending, trimming down expenses by using some money saving strategies, or possibly considering an extra income.

It isn’t always an easy process. It depends on how much of your spending is "unnecessary", how much you’re paying out for debt, and how much you want to be free from debt and financially independent.

One things certain, if you take control of your money, and are committed to living debt free, you will find success. If you just keep doing what you’re doing, things will not change, but will inevitably get worse. You will continue to invest in credit card companies, spending money that you don’t actually have, and don’t have a plan to pay back.

So start with a good spending plan that cuts out unnecessary spending, reduces monthly bills and expenses to the bare minimum, and eliminates credit card use. Save money in every area of your budget. Remember, $10 a month doesn’t sound like a lot. But, a savings of $10 per month is $120 per year that you can apply somewhere else in the budget.

Every dollar you free up helps bring the budget into balance. Helps you live within your means. Don’t spend more than you have. It doesn’t get any more elementary than that!

Good Luck and Success! Live Debt Free to Be Free. You Deserve It!

Cheryl Johnson is a mother of four helping herself and others become and stay debt free. Publisher of Simple Debt Free Living at http://www.simpledebtfreeliving.com - A self-help plan, ideas, and resources for debt management, household budget planning, frugal and debt free living. Money saving tips for groceries, bills, clothing, weddings, gifts, and much more. A money saving tip a day keeps the credit card away!

Article Source: http://EzineArticles.com/?expert=Cheryl_Johnson

In 5 minutes you can see where all your money is going.  Budget Planner

Get more information on budget planning in our eBook, Financial Health And Wellness.

[Home]    [Contact us]   [Privacy]  [Terms of Use]

Copyright©2004-2006Financial Health and Wellness.com/Get Some Enterprises LLC. All Rights Reserved.