How to save money for upcoming festivity expenses

Spending money unnecessarily on the festive seasons is a very common habit and often people with such habit really suffer throughout the year due to extra expenditure on special occasions. This year, if you want to avoid the problem, know the following tips from Justin Urbas.

Reduce use of credit card: 

It cannot be denied that on the festive seasons, especially on the Christmas and New Year, the shops come with great products. To most of us, bringing all these products to home seems really tempting. As a result, use of credit card becomes obvious and the effects of limitless shopping start to be realized soon after the occasion is over. This year , you can easily avoid this problem just by replacing the credit card with cash or debit card. Urbas states, whenever you are going for shopping, carry cash or debit card. It will surely compel you to stay within limit.

List what to buy: 

Before the festive season, list the items and gifts which you need to buy. While going to shop, make sure that your are not purchasing anything extra. Justin Urbas considers that it too will also help you a lot to control the expenses.

Start shopping early: 

Most of us start shopping for any occasion at the last moment and thus, often we do not have the time to look for the best deal. For getting rid of this, you can start a shopping with adequate time in your hand. It will be help you to compare the prices offered by different sellers and get the best deal.

Control spending on food and grocery: 

Not only gifts, often we spend extra on food and grocery too during festive season. You should keep in mind that some shops remain closed on the Christmas and New Year only. In other days, every shop will remain open as usual.

Justin Urbas also suggests to prepare a budget before the season and stay strictly within it for avoiding extra expenditure on the festive season.

Essential Financial Tips For Post-Retirement Days

You need to be financially stable at the end of your career. The retirement stage must go on in a smoother way. Retirement from the job cannot be termed as the end in career. You can start your own venture or get involved in other creative works to make some additional money. However, all these would happen only if there seems to be a stable financial support. A stable financial status will make you and your family safe and secured. It will allow you to enjoy your hobbies and make them your passion to work with. Justin Urbas suggests certain tips to strengthen your financial status post retirement.

Savings on a monthly basis

This is absolutely necessary. In order to make your post retirement stage comfortable and worry-free, you need to start saving money right from now. While being on the job, you have to start with the savings process. Every month you need to save a minimal amount in the bank. According to Justin Urbas, the savings amount may look very nominal but would take bigger shape when you retire. There are retirement schemes available from banks too.

Spending 4% post retirement

You must plan properly on your spending post retirement. The best option is to spend 4% after the retirement. Carry out a detailed planning for the possible expenses you have to deal with post retirement. This is what Justin Urbas has to say: How about spending 4%-5% of your total accumulated savings every year post retirement? Looks like a fine idea because the remaining money will be kept in provision for critical situations.

You can also invest in bonds. As far retirement savings are concerned, there is nothing better than investing in bonds. Bonds seem to be less volatile in nature. Henceforth, you will have lower risk factor in terms of losing money.

How to make a smarter budgets for your business

The small businesses are more likely to have limited resources and thus, the owners of these businesses require utilizing it very carefully. However, still the new entrepreneurs make mistakes to prepare budget and thus, do not obtain full benefits from the financial resources they have. Here are some tips from Justin Urbas for making smart budgets. If you too are facing issues to take financial decisions, use the following tips for avoiding wastage of money.

Know the risks: In any business venture, risk up to a certain level is associated. All these risks, if not managed on time, can have major financial impact on your business. Thus, whenever investing on anything, you should identify exactly which risks are associated with your decision and to what extent those risks can affect your business.

Overestimate the expenses: Surely you make an estimation of the expenses before making budget. For a new business owner, estimating these expenses accurately is difficult. Thus, Justin Urbas suggests that you can overestimate the expenses and can make provisions accordingly. It will reduce the chances of raising financial issues if the expenses increase later.

Be attentive to your sales cycle: Paying attention to the sales cycles is also crucial for perfect budgeting. If there is any off-season in your business, you should know it clearly and will be ready to arrange for extra fund to bear all the expenses during this time.

Be ready for large purchases in advance: While running your business, you might need to bear large expenses such as replacement of any equipment or requirement of raw material in bulk quantity. However, as you have limited financial resources, arranging for fund suddenly might not be easy for you. So, you can plan early for these expenses and create funds for those.

After the budget is prepared, Justin Urbas considers that you need to revise it regularly for identifying those areas which are causing extra expenses. It will also be effective to control money.

5 Suggestions before you go for your first house

Purchasing your first home is not only brings thrill but it can cause lots of stress also if you do not plan properly. However, you can easily get rid of stress and make purchasing of your first house more exciting using the following tips from Justin Urbas.

Credit score: When you are going to buy the first home, credit score if the most important thing you need to have. Higher Credit score is necessary to get loans easily. Nowadays, the standards are being stricter. So, you need to stay aware of these factors for getting loans easily.

Know your assets and liabilities: although home loans are available now, still you have to save some money for buying the first home. Even, in order to get loans, you will need to inform the lender about your earnings and assets. Thus, first of all, you should know how will you save money. For example, you require understanding how much money you have every month after meeting all expenses or which expenses need to be control for cutting down your monthly budget. Next, you should know, how the lenders will evaluate you. Justin Urbas states that if you are self-employed, then getting loans might be more difficult than the salaried ones. In that case, you should have solid proof of income for atleast two years.

Organizing documents properly: Before applying for mortgage or any other loan, you should have all documents proving the income and taxes ready with you. Without proper document, getting any type of financial aid will be difficult. For the first time buyers, making mistakes to do it is quite natural. Thus, for making the process error free and avoiding unnecessary delay,you can take help from professionals too.

Justin Urbas also considers that educating yourself before buying the first house is crucial. You should know for how much loan, you would qualify and the up-front cost, you will be able to bear. Clear idea on your financial condition will help you to take better decision,read more.

3 Great Business Ideas for Busy Homemakers

In recent days, you can see that many women are leaving their career to take care of their families. If you too are one of them and still want to help your family financially, then starting a home based business will be the perfect option for you. However, often the housewives like you have to spend too much time with their families and thus, getting time to do any other task becomes difficult for them. To get rid of such problems, you can use any one of the following businesses ideas suggested by Justin Urbas. These businesses do not need much time or money for being started. So, you can run these easily during your spare time.

Home based bakery or food businesses : If you are passionate about cooking and love to prepare new dishes, then you can earn money just turning your passion into profession. You can start working as chef, can start a bakery or can sell your foods at local stores. If you have enough time to cook for large number of people, you can think of starting a catering business too.

Start a childcare business: You are already taking care of your own kids. So, looking after kids of others too will not be problematic for you. Justin Urbas considers that for women like you, starting a childcare business will be perfect. To start this business, you do not need to make any significant investment and of course you can run this without affecting the family.

Working as seamstress: You skill for working with needle and thread can also give you lots of scopes to earn money. With little investment, you can start sewing the custom made dresses or can craft your own items to sell online.

If you are starting a business for the first time, then managing it might be difficult for you in initial few days. Justin Urbas considers that you can take help from experienced ones in these days to run your business smoothly, read more.

4 most tricky financial tips that will help in the first job

Starting the first job is always a very special incident to all of us. But, most of the people, in first days of career, tend to overspend and thus, face problems in their later lives also. To avoid it in your career too, know how to save money from Justin Urbas.

Make a plan: After getting the first salary, people get so excited that they forget to make financial plans. If you want to save a decent amount of money from your first salary, you should not miss it. Saving money would be easier if you make the financial plans properly. You can make an estimate of all the expenses-such as billing expenses, entertainment costs and other long term savings plans and allocate the money accordingly.

Negotiate properly before starting the job: When joining the first job, many of us do not give much importance on proper negotiation regarding salary. Justin Urbas suggests that there is no point in working in wages lower than your deserved amount. If you want to stay in sound financial position from the very beginning, ensure that you are getting proper value from the company.

Check your budget regularly: From the first month of your job, you have to check the budget regularly. You can maintain a log to track your daily expenditures and savings. Such logs will help you to identify the extra expenses and save money in long run.

Insure yourself: From your first job, you should try to save for worse situations. Nowadays, the medical expenses have been increased a lot. You should try to insure yourself properly for getting financed when you are ill.

Justin Urbas also considers that opening a separate savings account would also be effective to save money. In addition to this, you have to develop the smart and attainable goals also for ensuring a good financial condition for you in future.