In the previous exercise, we have identified all costs and all income and now have a clear picture of the current situation. Using this information, the budget we set will, in effect, be an overview of how we live our lives from this point on. There will be certain rules that we have to stick with, but we will know that sticking to the rules will allow us to achieve our future financial goals.
The next part of the process is a little more painful and certainly more laborious than the last, but nevertheless must be done. Begin with the easy stuff first. This is the middle section on the budget sheet, i.e.:
- motoring expenses;
- food and housekeeping;
- miscellaneous goods and services;
- personal and leisure;
- sundries and emergencies.
There will be lots of low hanging fruit here (easy savings to be made).
For example, let's say your daily expenditure diary reveals that on your commute to work you buy a newspaper at the railway station and a coffee while you wait for the train. You buy lunch at the deli around the corner, but go to the local pub for a sit down lunch and a drink on a Friday. You have a drink with colleagues after work on average 2 nights a week and buy an evening paper to read on the train on the way back from work. This is what this expenditure looks like over the week:

If you believe your bank has made a mistake or you are having a dispute with them, it might seem like you will never get the problem sorted. Although solving banking disputes can be tricky, if you follow the right course of action then you can solve banking disputes fairly and without developing a bad relationship with your bank.

What disputes?

There are a number of issues that can arise that might cause a dispute with your bank. Perhaps you are sure that you did not make a payment on your account, or you believe your bank has incorrectly charged you a penalty fee. Your bank could even have calculated your balance wrong or wrongly removed money from your account. Whatever the problem, you need to remain calm about the situation and follow certain procedures.

Get things in writing

If you have a problem with your bank or they have a problem with you, then make sure you get all procedures and reasons for them in writing. If you bank does not write to you, then write a letter to them explaining the problem. Getting things in writing can often help to iron out misunderstandings and set the ground for mediation.

Read the small print

If you have a dispute with your bank, then make sure you read all of your policies in detail before protesting. It may be that your bank is within its rights or is correct in the procedure it has carried out. Make sure that you have a case before beginning to query something.

Don’t be aggressive

If you are aggressive, threatening or abusive towards your bank or members of its staff then no matter how right you are they are not likely to listen. It could also result in you having to move your accounts from the bank altogether. Even if the situation is extremely frustrating, remain calm and rational because you are much more likely to be listened to this way.

Meet face to face

If a dispute cannot be sorted in writing or over the phone, then try and meet with your bank manager or another bank representative in person. This will help you to get a better idea of what the problem is and hopefully reach a mutually agreeable solution.

Banking is business

Remember that any decision that is made either for or against you is not personal. Banking is a business and they are likely to put their needs ahead of yours. However, if it is within their power to sort the problem out, then they usually will do so as they want to keep you as a customer.

Many articles have been written on the subject of FOREX trading. The vast majority of them have detailed analysis advice as well as investing tips. What just few of them found interesting enough is the subject of selecting the right real-time data provider. Simply stated, this is the software platform used to deliver quotes and charts, together with various technical indicators for each currency pair.

While real time FOREX quotes are available free of charge from many sources, as Bloomberg and Reuters, and various FOREX brokerage houses, the real need is for a comprehensive charting package.

As FOREX trading is essentially an intensive short-term speculation, the Technical Analysis approach is what a professional operator needs. This must be delivered through a stable and reliable real-time charting platform.

Even if the advertisements may be appealing for most of them, some key characteristics must be checked, in order to make sure you get the best price/content ratio. Ranging from free to several hundred dollars a month, they offer various levels of proficiency, regarding the number of currencies pairs, frequency of their updates, number of contributors and technical analysis capabilities.

There is a huge difference between a provider that offers updates from just one stream every minute and another one feeding your platform 10 times a second from 50 interbank players.

With the first one, you will obtain a valid quote but you will not feel market’s rhythms, which are of utmost importance in gauging various games people play when speculating. This is particularly important immediately following news announcements, as key players implement their trading strategies.

While simple platforms will exhibit a “jump” in the price from one minute to the next, the professional ones will clearly show the tension and “fight” for each PIP in the arena.

Usually, brokerage houses offer some basic packages free of charge and use their own data feed to update the programs, but you will have just limited understanding on what is really going on.

Thanks to more than 10 years in the market, I believe you will be better off with a subscription to an independent real-time data provider. Even if the cost is higher, the performance is far superior.

As this is their primary business, they tend to allocate important resources to you as a customer and of course, they update and improve their platform on a regular basis.

Because I will avoid advertising any company names on this article, I will just invite you to consider asking the following questions before deciding.

Web-based or desktop-based platform. While the first one is more mobile, the second one tends to have more features.

Number of regularly updated currencies pairs. The key is to have at least the majors regularly updated (EUR/USD, GBP/USD, USD/JPY, USD/CHF), but of course, the more pairs the better.

Number of real-time data contributors. The bigger the better, as this will offer larger exposure to the trading community.

Number of updates per minute. The bigger the better (strongly influenced by your internet connection), as this will help you “feel” the market.

Number of technical indicators and analysis instruments (trend lines, time intervals, Fibonacci Levels, printing, colours, etc…). The bigger the better, as your analysis potential is increased.

Technical support available at least during market hours. It is of paramount importance to make sure you have a comprehensive technical support, in case something goes wrong during your trading activity. Also, ask if the service is free of charge or fee based.

In the previous exercise, we have identified all costs and all income and now have a clear picture of the current situation. Using this information, the budget we set will, in effect, be an overview of how we live our lives from this point on. There will be certain rules that we have to stick with, but we will know that sticking to the rules will allow us to achieve our future financial goals.
The next part of the process is a little more painful and certainly more laborious than the last, but nevertheless must be done. Begin with the easy stuff first. This is the middle section on the budget sheet, i.e.:
- motoring expenses;
- food and housekeeping;
- miscellaneous goods and services;
- personal and leisure;
- sundries and emergencies.
There will be lots of low hanging fruit here (easy savings to be made).
For example, let's say your daily expenditure diary reveals that on your commute to work you buy a newspaper at the railway station and a coffee while you wait for the train. You buy lunch at the deli around the corner, but go to the local pub for a sit down lunch and a drink on a Friday. You have a drink with colleagues after work on average 2 nights a week and buy an evening paper to read on the train on the way back from work. This is what this expenditure looks like over the week:

Online banking helps a borrower enjoy a faster and simpler means to handle multiple financial needs. Services of an online bank vary from transaction accounts, balance check, accessing records, electronic money transfer and loan applications. The greatest advantage of an online bank is the convenience of enjoying banking services through a personal computer. The borrower no longer needs to battle long lines at the bank and wait for services. youronlinebank.co.uk lets the borrower benefit from online banking services.
A borrower can reap all the benefits of online banking even with minimal internet knowledge because online banks have extremely user friendly and interactive websites. An online bank account is a great option for anyone who is looking for means to manage their finances from the comfort of their home or office. Increased competition has led to competitive interest rates and exciting offers to attract customers. With appropriate amount of research on online banking and exerting care and caution while choosing services of an online bank, a borrower can be assured of a convenient means to manage finances.
Advantages of online banking:
24/7 service: An online bank allows a customer to access their accounts and manage their money 24 hours a day and 7 days a week from any part of the world. All that a customer requires is a personal computer with access to the internet and an online bank account.
Enjoy convenient services like balance check, accessing records, electronic money transfer, pay bills etc regardless of time and your location.
Cost effective means to manage finances: An online bank saves the customer time and money by letting him/her enjoy services from the comfortable confines of their home or office.
Options for loan applications: Online banks offer a plethora of services which also include options to apply for a wide variety of loans ranging from car loans to personal loans depending on the borrowers needs. No more tedious paperwork: Online banking enables customers to avoid the extensive paperwork which the customer encounters with regular banking services.

It isn't always possible to find the right budget for your finances on your first try. People think of finances as being a solid, written-in-stone thing. They look at budgets as being unmoving.
They couldn't be more wrong.
Your finances change constantly. Your shopping each month isn't even the same. A budget must be flexible in order to survive. At first, you must be willing to let things change and adapt. Over time, your budget will really become your own and it won't change as much. You will.
You can't simply take a cookie-cutter budget and make it fit your spending habits. It simply won't work. If you've always spent $200 a month on groceries, chances are that you won't be able to cut it to $100 overnight. You have to consider that the cost of living is very different in different areas of the country. You have to consider that no one shops like you do. No one knows your finances like you do.
You have to be accurate when predicting your income and expenses. Income is often easy to predict for those that have a fixed salary. Those who do not should go with the lowest projection.
When it comes to your expenses, you have to be honest. If there ever was a time for the truth, it is now. Don't forget to include expenses that don't occur monthly, such as your auto insurance, homeowners insurance, property taxes and other expenses. By setting something aside for these items, you won't be hit hard when the roll around. Your budget will survive them.
You can't just sit and create a budget then tuck it in your desk. You have to review it just as you do your checking account. Consider it as a manager for everything. It can serve as a checklist for paying your bills. It can serve as a way to see how much you save. It can help you manage your finances in numerous ways

Personal financial planning seems like such a lofty task to so many people. But it is really a simple idea. You are in control of where your money goes.

So few people are. And there really isn't any reason why. Managing your finances isn't a difficult task. In fact, it is one you must master in today's world. It will get you to where you are heading. It will help put your kids through college, it will take you on that second honeymoon, it will buy your home and retire you in comfort. How could you not learn the basics?

There are three general processes in managing your finances.

First, you must be able to control your day to day finances. This is your spending and your earning. You must create a budget, perfect it and learn to utilize it. You have to put the credit cards aside and get out of debt. You have to choose saving over spending sometimes.

The key behind managing your money is that it is no longer managing you. When you are in debt and your money is all spent as soon as you are paid, you aren't in control. When you decide where that money is going and it goes to where it earns you money, you are the one in control.

The second aspect of financial planning is seen in the choosing and working towards realistic long-term goals. These goals are the motivation behind controlling your finances. You may want to get out of debt, buy a house, go to college and retire comfortably. You might want to see the ocean for the first time -- in Mexico. You might want to tour Europe with your daughter when she graduates college. No matter what your goal, it will be the fuel to keep you on the right path. Use it.

The third factor is the building of a financial safety net around your family to prevent financial disasters. You need to have adequate insurance to protect you and your family from illness, death and lawsuits. You need to have a will in place. You must have an emergency savings account that has enough money in it to cover three to six months of expenses.

Your emergency savings not only cushions your budget from the unexpected, it also prevents the usage of credit and protects your savings. You won't have to dip into retirement when something major goes wrong. You don't have to use an emergency credit card and then pay high interest to replace something that is broken. You have protected your finances.

Modern technology has made it easier and faster to do a variety of things. Want to order a piece of nice jewelry? Look online. You can even order groceries, or pizza for tonight’s dinner, online. And you can do it in your pajamas if you wish. So why not apply for a credit card using the Internet? The simple truth is that it is fast and easy to apply for a credit card online.

Applying for a credit card online is fast and easy

One of the biggest benefits of applying for a credit card online is the fact that you can do so quickly and easily. Online credit application forms are usually clearly marked, and take you through the process step by step. Additionally, before you can move on to the next page, the form ensures that all necessary fields are filled out. This means that you won’t accidentally leave something off your application, like you might do filling it out by hand.

Not only are the online forms easy to use, but they are also fast. Instead of waiting weeks to find out whether or not you are approved, most online credit card applications can let you know within minutes whether or not you are eligible for a card. This cuts down on the anxiety associated with waiting to hear back from the credit card company. And, when you apply for a credit card online, you will get your card sooner. The credit card company does not have to wait for your application; you have it turned in. All that needs to be done is processing before your card is mailed. You can get your credit card two to three weeks faster, simply by applying online.

Applying for a credit card online is secure

Most of the time, you are secure when you apply for a credit card online. As long as you take proper precautions of having Internet security, and as long as you close out of the browser window and clear your cache, your information will probably remain secure. Consider that when you apply for a credit card through the mail, there are numerous opportunities for someone to steal your personal information: while your application is in transit, and all of the layers at the credit card company. How many hands must a paper application go through before it is approved? Many more hands than when you apply online.

Forex rates (currency prices) are a reflection of the supply and demand for currencies. The two main factors of forex rates are the strength of the economy and interest rates. Economic factors such as trade balance, GDP and foreign investment reflect the general state of a economy and are repsonsible for the changes in supply and demand for that currency. Economic data is released on a regular basis by countries which in turn affects the overall strength or weakness of their particular forex rates. The main data that should be looked at closely is - international trade and interest rates.

International Trade affects a countries trade balance and forex rates dependant on the net difference between a countries imports and exports. If the country imports more than it exports, their trade balance will show a deficit. If the deficit is more than the markets expect, then this data will trigger a negative price movement in the value of that countries currency prices. If the deficit is less than expected then there will generally be a strengthening or positive price movement in that countries forex rates.

Interest rates can directly affect forex rates. Generally, if a country raises its interest rates, that countries respective forex rates will strengthen in relation to other nations as global investors move funds to that country to gather a larger return on their investment. Lowering of interest rates will generally have the opposite effect on a countries forex rates.

Indicators that have the greatest impact on a countries interest rates and in turn, forex rates are the Producer Price Index (PPI), Consumer Price Index (CPI) and the Gross Domestic Product (GDP) data that is released by countries central banks.

Some people do a lot of compulsive buying. It may feel good now that the item has been purchased but this will all go away when the bill comes and there isn’t that much money left for savings.

Can anything be done to stop this from happening? The answer is yes. All the individual has to do is make a budget plan that everyone in the household will follow.

The objective of the family budget is to spend less than how much the individual is actually earning. This could be from the salaries of the spouses and any other investments such as stocks or properties being leased out which is income generating.

The first step in making a budget is making everyone compute how much is actually being spent per month. This is the only for everyone to realize that spending for example $4.00 a day for coffee is actually $80 a month if the individual does this 5 days a week.

The question then becomes if this is necessary? If the family buys coffee for the home, why not just make it then bring it to work in a mug? The money saved can be spent on paying for credit card bills in full rather than paying the minimum and earning interest.

Some rules must be set when making purchases. If this exceeds for example $300, the spouses must first discuss if this is needed. There might be a similar item available at a cheaper price in another store.

Most stores accept either cash or a credit card in making a purchase. One way to save money is to find out if this can be paid through an installment plan. This will ease the burden of paying for the item if there isn’t that much money in the wallet when the bill comes at the end of the month.

Energy conservation is also part of the family budget. If no one is in the room, the lights or even the air conditioner should be turned off. The faucets must also be closed properly so that the amount paid per month to both companies is not that big.

Even before the pending oil crisis, families were encouraged to car pool to get from one destination to another. If the place where the person wants to go is not that far, it will be a good idea to walk, take a bike or rely on public transportation, which can save some money that, was once used for gas.

Most homes have a telephone. If the individual pays more than $50 a month, perhaps it is best to start looking for another carrier that is offering a similar package at a more affordable rate.

Shopping at the grocery doesn’t have to be tedious every time. There are some establishments that are cheaper than others and also offer promos to the customer. The person should just drive around the neighborhood and find it.

Many American families give children allowance. This is used to buy food or spent on buying clothes and other items from the mall. Another way to save on money will be reduce the amount given if this is necessary.

The kids will likely complain if a friend gets more in a week so it is best to suggest an option like getting a part time job to offset the cash reduced in the allowance. A few options are mowing the gardens or clearing the gutters of the neighbors, delivering newspaper and even doing some household chores.

A survey has shown a lot of children like this idea because it allows the kid to earn more money that what is usually given at the start of the week.

A study has shown that the average American household spends more than $500 on expenses a month. If there are a lot of children and the house is quite big, this can even exceed $1,000.

The family especially the kids must understand the money does not from trees. The parents have to work or one of the spouses will have to take a second job just to make ends meet.

It is so easy to put certain things off. Things that do not demand our immediate attention. Things that do not need to be constantly monitored or watched or baby sat. Things like that extra load of laundry, the timely payment of the minor bills, the simple note of appreciation for a kindness extended in your direction, or our planning for the future.

Time passes so very quickly. Things we really meant to get to are yet left undone. Some of them are even postponed until it really is too late.

One of the saddest statements I have ever heard or read is the one that says, “The family would like to thank those who have so graciously given their sympathies, and would request a cash offering in lieu of flowers.”

How sad that yet another person has passed on and left it to someone else to struggle out their financial affairs.

The solutions are so simple, so easy, yet they do require one to take the time and initiative to set things in proper order.

There are three basic considerations in life that are so easy to plan and set in motion to secure our futures. They are (1) getting out of debt and staying debt free, (2) planning for retirement, and (3) securing your financial future.

(1) Getting Out Of Debt.
Of all three considerations, this one requires the most self discipline. Start by checking your credit and credit score (FICO). You can get free copies of your credit report from the three major credit reporting agencies at http://annualcreditreport.com.

Next, consider looking at where you want to be in the future, financially. A site that can help in this discovery is www.primericafna.com. Perhaps a debt consolidation loan can make a difference for your situation. If possible, get one that allows payments on the loan every two weeks to reduce the principle amount even faster.

(2) Plan for Retirement
One of the best options in planning for retirement is to consider investments. There are a number of regular and tax advantaged options that may be used to fund long term and short term savings goals. Consult your own financial advisor for details. What? You don’t have a “financial advisor”? You aren’t alone. A recent study showed that three fourths of all American families do not have a financial advisor. Ask people you trust for recommendations, or even refer back to the website I mentioned last. When you get the contact information for a personal financial advisor, give them a call and make an appointment to meet with them. You will probably find it an informative and enlightening experience.

(3) Securing Your Financial Future
This consideration goes hand in hand with #2. The best thought is to buy sufficient “term” insurance to cover your family’s needs if you were gone. Then, as in #2, invest in some funds that will produce a savings plan for your future.

In our world of “keeping up with the joneses”, it’s an everyday struggle to resist buying the latest, greatest toy to wow our neighbors with. But how did we come to be this way?

If you’re a Baby Boomer, your parents probably weren’t like this. They were too busy trying to feed, clothe, and provide shelter for their families; everything else was gravy. But in today’s world of borrowing, credit and instant gratification, seemingly anything we want, we can have. We pay for it for years, and thanks to interest rates, we end up paying a lot more than actual sticker price. But hey, we have it now, right? Thing is, if we step back and think about it, we can learn a lot about finances from our parents. We can also pass that info on—and then some—to our kids, creating a lineage equipped with sound, smart financial knowledge.

Teach them about today’s money

Spending isn’t like it used to be. Through the prevalence of checks, credit cards and debit cards, cash is a rarity in today’s world. But it’s important that our kids understand where money comes from and how it’s used. When you plop down the plastic for a purchase, let your kids know that the money is either coming directly from your bank account, or a bill will arrive in the mail which you will soon have to pay. When at the ATM, tell them that cash isn’t magically coming out of the box. It was put there from your work, and its money you earned. As they grow older, instill more sophisticated lessons into their lives. Tell them about late fees, interest and the importance of saving. The early you start teaching your kids about finances, the better off they’ll be.

College quality counts

Studies show that four-year undergraduate degrees are now the norm in the working world, and in order to stand out, a graduate degree is necessary. On average, the income of someone with a master’s degree was nearly $10,000 greater than that of a person with a bachelor’s degree. Also, the higher rated the college your child attends, the more they will make. Start saving now for your child’s education, and be prepared to shell out extra over the long run if need be. It’s proven that the amount they will make after college will easily outpace the extra cost incurred by attending a big-name school.

Save, Save, Save

Don’t spend, spend, spend. Advertising today would have you believe that everything on the market is an absolute must have for you and your family. Credit card companies are approving younger and younger kids every day. Resist the urge to splurge. Make saving a priority in your family, and introduce kids to the concept as early as you can. If your child requests a big ticket item, put them on an allowance and encourage them to save for it. Tell them that if they save an agreed-upon amount within a certain time frame, you’ll match it (a nice little introduction to the world of the 401(k)).

Help them as adults

Studies show that most grown, independent children ages 25 to 34 receive over $14,000 from their parents. No, these aren’t slacker kids still living at home. These are independent, educated adults who earn a decent income, but who might need a little help getting started in the world. Giving now can help your kids save on estate tax when you’re gone, and will also have more of an immediate impact for them and more satisfaction for you. The IRS will allow a gift of up to $11,000 per year for each child without incurring a gift tax, and couples are allowed $22,000. When you do give a sizeable gift to an adult child, make sure you set the ground rules on it before the money exchanges hands. Let them know that the money is to be specifically used for something like a down payment on a home, not for a new sports car. You want your cash gift to help your child become independent, not condition them to expect parental gifts for frivolous purchases.

A number of recent studies have shown that disability is an issue that everyone should be concerned with, even people who are young. Statistics show that you have a much greater chance of becoming disabled while you are working compared to dying before the age of 65. Even if you are making a high income, everything can change over night if you are injured. Becoming disabled is one of the leading causes of bankruptcies and foreclosures. To avoid this, it is important to make sure your income is protected.

When you talk to most people in the financial industry, they are quick to tell you about the importance of asset protection. They will scare you with the horror stories of people being sued while they are nearing retirement, and losing everything they've worked their entire lives to build. However, few of them will tell you about the importance of protecting your income. Income protection is just as important as asset protection. If you are interested in income protection, the first thing you will need to do is compare the various protection plans that are available on the market.

Anyone who works a minimum of 20 hours per week should be able to set up an income protection plan. The goal of these plans are to protect you in the event that you are not physically able to generate an income for you and your family. In addition to physical handicaps, the income protection plan should also cover mental disorders as well. Many income protection plans will look at your case based on your occupation If you are injured in a way that keeps you from being able to carry out the necessary tasks for your occupation, you will be given benefits.

It is also important for you to look for an income protection plan that will not limit your benefits if you decide to switch to a new occupation. The situation that can result from you not having income protection is severe. There have been stories of doctors getting into accidents, and they were not able to go back to work for months. The time that these doctors spent away from work nearly caused them to lose everything they had. It is also important to understand how the term "own occupation" is used when talking about becoming disabled. This term will demonstrate when you are allowed to start getting benefits.

Many income protection plans exclude mental disorders or problems that are related to the nervous system. It would be wise for you to avoid using such plans. It is essential for you to make sure you're protected from any type of disability, whether it is physical or mental. A good company should be able to cover both. You should also get a plan that can assist you in the event that you are able to come back to work part time. Income protection is an important issue that you will want to look at. We live in an uncertain tomorrow, and there is no guarantee that you won't get into a situation where you are unable to make a living for yourself. Income protection can shield you against this event.

The Internet has made every day life a lot more convenient for everyone, and opening a bank account online is just one of those conveniences. It is simple, quick and easy. Best of all being that it only takes a few minutes to do.

If you’re like most of us, you really don’t have the time to go to the bank, and wait in the customer service area until someone has time to help you. Most, if not all of the local banking institutions in your area offer online account management, so if you do not already have an account established, you could open a bank account online.

Online banking is a convenient and secure way to keep track of transactions, and customers can view all accounts at a glance. The local bank is always available to make deposits and complete other financial transactions that need to be taken care of in person. If you choose to go with a bank that doesn’t have a local office, deposits must be mailed or wired because most online banks do not offer transfers between outside bank accounts.

Before you open a bank account online, check out all the different services offered by online banking institutions, and make your choice based on which ones fit your needs the best. Many banks offer free checking with no minimum balance, no monthly fees, free bill pay, ATM/debit card, overdraft protection, with or without direct deposit, as well as other banking services like stop payments and copies of checks written. Some banks also pay customers interest based on average daily balance for savings and checking accounts, or have other interest incentives to keep the balance above a specified minimum.

As mentioned earlier it isn’t necessary to open bank accounts online with financial institutions that have local branch offices in your area, but it is more convenient for making deposits that cannot be directly deposited, especially if you’re in a hurry to get the money into your account.

If you haven’t already, it’s time to join the 21st century and get on the ball and open a bank account online, or start using the online banking features offered by your present financial institution. Enjoy the convenience of banking online and make better use of your time by paying bills directly with e-pay, and take advantage of all the time saving features that are offered by your bank.

You can easily direct deposit funds into your accounts and pay your bills online. This is a great money management tool that also allows transactions to be downloaded into your personal Quicken, or other accounting program.

If you haven't already done so, open a bank account online today and make your day-to-day life just a little bit easier.