In order to find the right software for you and your needs you’ll need to do a little research.  Find a few programs that offer you the features you need.  For most people a simple system that can help them track their household spending habits will be enough.  Others, though, may need something a little more high tech.  This is especially true if you have multiple investment accounts and / or you are trying to work out a long term investment plan.

Make sure that you get the most out of whatever software program you decide on.  There is no point in choosing a program with a lot of bells and whistles if you’re not going to take the time to figure out how to use them all.  Go through all the available tutorials to learn how to use your software properly.

Even if your software allows you to integrate your investment accounts, you may be better off just starting out with your main household accounts.  If you keep it simple in the beginning you’ll have a better chance of getting the results you want since you won’t get overwhelmed and just chuck the whole thing.

See if you can integrate your online bank account website with your software, that way all your management features will be automatic saving you time and headaches.

Once you’ve gotten your software set up and you’re getting a clear picture of your finances,  it’s time to analyze everything and find out just where your money is going.  Everyone can benefit from this but especially if you seem to be falling short of money before the month is over.  If you find there is more month than money, you can use the analytical tools of your software to figure out where your money is going and what you can do to stop the bleeding.

Once you’ve plugged the holes in your budget you can then start to whittle away at your debt by applying the money you are no longer wasting to pay off your credit card debt.  Pick one card and apply that extra money to the minimum payment you make on that card every month. In a short time you’ll have that card paid off completely.  Than you pick your next smallest card balance and do the same thing.

You can eventually apply this principle to paying off your mortgage early.

The first step to getting any problem under control is to identify exactly where the problem is coming from.  Using personal money management software can make that process quicker and more effective.  Once you get used to using the software it can even be fun to see your progress right there on your computer screen and you’ll definitely enjoy seeing the extra money show up in your account every month.

Personal Money Management Software Puts You In Control is a post from: Debt Free Journey

In this world of tight budgets and economic uncertainty, the need to find ways to help save money has people scrounging for how to save money tips. It is tempting to find one or two things that will save a household a lot of money, but the best way to do it is by altering several small things. In those areas you might only save a few pennies here and there, but you will find that it is the little things that can add up to a lot. Many of these ways might not be very obvious to you and some might be ideas that will have you scratching your head and asking why you hadn’t thought of this earlier. Here are five ideas that fit into that mold.

1- Stop shopping at convenience stores.

Convenience stores are notorious for marking up the price on items significantly compared to grocery stores. If it isn’t worth the hassle to go to a grocery store, you probably don’t need it anyway.

2- Avoid late fees when paying bills.

Pay your bills on time so that you aren’t charged that extra unnecessary amount. If the problem is a lack of organization and forgetting the dates, use a reminder service like Google’s calendar feature that can send you a text or email to let you know when due dates are approaching. If you are worried about not having enough funds, call ahead and see about changing the due date or getting an extension.

3- Save your change.

Make it a habit to keep all that pocket change in a jar. Use cash to pay for most things and instead of trying to give the right change, only use the bills. When you get home, drop that coinage in a jar and let it accumulate. You will be surprised at how quickly it adds up.

4- Carpool as much as possible.

You can be doing yourself and others a lot of good when you decide to travel together. It might not be as convenient, but it can help in the long run. Carpooling to work or taking the kids to school are obvious ones to do. You can also get to know your neighbor and coordinate shopping trips.

6- Buy Used or Discounted

You can find a decent collection of clothes and other needs if you will buy used or at discount stores. Shopping at consignment shops or Goodwill will provide you with some good options. Discount stores like TJ Maxx or Marshalls are good places to find good designer clothes for a cheap price. Yard sales are good places to look for things that you need for the home. Discount food stores will give you the most value on food products. The names of the brands may not be familiar, but you won’t notice much of a difference in taste or quality.

You can find many more ways to save money, but the keys are to get organized, be disciplined, and learn to sacrifice. There won’t be many how to save money tips that will save you much money on their own, but using several together will net you the results that you want.

5 Easy Ways to Save Money is a post from: Debt Free Journey

A money market account is similar to regular savings accounts.  You deposit money in the bank and you earn a certain interest rate on that money for as long as it’s there.  You can withdraw it but you might lose some interest and/or have to pay some fees.  It’s not quite as easy to get to as a standard checking account, but it is still liquid.

Having said that, there are some significant differences between a money market account and a ‘regular’ savings account.  For one thing most money market accounts will require you to make a significant deposit in order to open the account.  It can be as high as $1,000- $2,500.  This will ensure you earn a higher interest rate, but for some people this amount is out of the question.

Another difference is the ease of access to your money.  Many regular savings accounts will offer you virtually unlimited access to your money, with a money market account you are generally limited to only a few withdrawals per month.  Usually between 3 -6 .  The good news is that many money market accounts will allow you to write up to 3 checks per month on your account.

Whether you open a money market account with a bank or a credit union they are still protected by either FDIC (for banks) or NCUA (for credit unions).

Before you open your account make sure to carefully go over all the details of your account, such as:

1) How is your interest calculated?

2)  How much interest will you earn?

3)  What is the minimum balance requirements?

4)  How much will you pay to withdraw your money?

5) Are you limited to a certain number of withdrawals each month?

Don’t let this troubled economy sink your financial ship.  Use this as an opportunity to get your finances in order; open a money market savings account so the next time the economy capsizes you will have a nice little life boat.

Should You Open A Money Market Savings Account is a post from: Debt Free Journey

Online banking is a relatively new alternative to the brick and mortar corner bank, and they are growing in popularity.

There are several reasons for the growth. One of the biggest reasons is that online banks pay higher interest rates.  Since they don’t have a building to maintain, tellers to pay, and all the overhead associated with an offline location, they can pass that savings on to their customers in the form of higher interest rates.  The rates are often 2 to 3 times higher than their offline counterparts.

Another advantage of an online bank is that even though you can easily transfer your money back and forth between your online account and other accounts, it’s still not as easy as just running down to your local bank and taking out your money.  For many people, who might lack some discipline, this is a big advantage.  It means they will be less likely to just withdraw money on the spur of the moment.

Before you open your online account take some time to find the best bank for you.  There are a lot of choices available, some are better than others.  You want to look at many aspects of the bank and not just the interest rate.

Make sure that whatever bank you choose offers a competitive interest rate.  Like I said above, that isn’t the only thing to consider, but it is important and it is a good place to start.

Then you can  narrow the field by looking over their policies regarding withdrawals and transfers.  What fee’s, if any, will you be charged each time you transfer money from one account to another?  If you are prone to transferring money frequently this is an important thing to consider.

Also, will you need a certain amount to open the account?  If so, can you afford that much?  Does the bank require you to maintain a minimum balance?  How much?  If you don’t have a very big account and frequently pull money from your savings account fee’s like these could add up quickly.

Generally the higher the balance on your account the higher the interest rate will be.  So if you use interest rate as the only parameter when shopping around for your online bank, you might be in for a bad surprise down the road.

Instead of fretting about the current economic situation we would all be much better off if we evaluate our financial situation and make appropriate changes now.  A good first step would be to  open savings account online.  Just make sure to invest a few minutes to find the right combination of features for you and your needs.

Open Savings Account Online – You Have A Lot Of Options is a post from: Debt Free Journey

So why would you open an internet account instead of one right at your local bank?  The prevailing theory is that an online account will pay a higher interest rate since it has less overhead.  That has proven to be the case most of the time but you will need to check out the interests rates when you are ready to open your account.

You have to remember that online or off, interest rates will fluctuate.  No one can guarantee a certain rate for more than a short time, if at all.  Another thing to keep in mind is that a lot of banks will offer incentives to get your business, a great rate, a fee reduction, etc.  These incentives are usually only for a short time so make sure you know what will happen after that time expires.

Here are a few other points you need to keep in mind when shopping for an online bank:

1) Interest rates aren’t the only factor to consider.

2) How much will need to open the account?

3) Will you have to maintain a minimum balance, and if so, how much?

4) How many withdrawals can you make a month?  Are they all free, or will you only have a certain number of free transactions and then be charged a fee?

5) Get a detailed, and easy to understand, list of all fee’s and other important information.

6) What type of customer service do they offer?  Ideally you will be able to access customer service by several means, not just email.  There are times when you can’t wait 2 to 3 days for a response to a question.

It really doesn’t matter what financial mistakes  you may have made up to this point in your life.  Now is a good time to take stock and make the necessary changes.  Take the first step today and open internet savings accounts.  The next time things in the economy get rough you’ll be thankful that you did.

Internet Savings Accounts – What To Look Out For is a post from: Debt Free Journey

When it comes to opening a savings account you have more choices now than ever before.  You don’t just have to go down to your local bank where you have a checking account and open an account.  There are many online banks that you can open an account with too.

Online banks have the same FDIC protection as offline banks but they often have advantages your brick and mortar bank can’t match.

One of the most obvious advantages is a higher interest rate.  Since an online bank has much, much less overhead they can afford to pay out a higher interest rate.  Just think of all the money your local bank is spending on the building, electricity, property taxes, landscaping, employees, etc.  That is a lot of overhead.

Doing business on the internet takes a lot of those expenses out of the equation.

There are websites such as bankrate.com where you can go to see a detailed list of some of the current interest rates being offered by banks.  Having this information will help you make a better decision when opening your savings account.

Don’t forget that interest rates are only one of the things you should consider:

1) How much money will you need to open the account? If you are starting small and the bank you are considering requires a lot of money just to qualify for a certain rate than obviously you’ll need to keep looking.

2) Will you need to maintain a minimum balance?  If so, how much and what fee’s will you be charged if you fall below that amount?

3) Will you be charged every time you transfer money in or out of the account?  If so, how much?

4) How easy is their website to navigate and do they have easy access to customer service?  If you have a question you don’t want to have to wait for 3 days for someone to get back to you.

Make sure you take all of these factors into consideration before opening your account.  A high interest rate is wonderful but if all that extra interest income is just going to be spent covering your fee’s it’s not going to do you any good.

Take some time today to shore up your financial tomorrow.  It’s not that hard, all the information you need to find high interest rate savings account is easily available online.  Do your research, open your account and when the economy turns around you’ll be smelling like a rose!

How Do I Find A High Interest Rate Savings Account is a post from: Debt Free Journey

Today’s interest rates are at all time lows.  The term ‘high’ can be somewhat misleading, there really is no such thing as a ‘high’ interest rate, though some banks are better than others. Interest rates will range from about 1.01% up to 3.01% APY.

Interest rates aren’t the only factor you should consider before opening your account.  At some banks you will be required to keep  a minimum balance to qualify for a certain rate, which would greatly reduce access to your money.

Your financial habits have to be taken into consideration when picking out a savings account.  For example, are  you allowed to draw out money as often as you want without a fee?  If you draw money out of your savings frequently and the bank you choose charges you a fee, that could add up very quickly and could really put a dent in your savings account, even if you’re earning a fairly high interest rate.

Another thing you need to ask any potential bank is if there  is a minimum deposit amount to open the account, and will you need to keep a minimum balance.

If you have a fairly small savings account and the main reason you keep an account is to have access to money in the event of an emergency, than having to maintain a minimum balance could be a problem.  If your balance falls below the minimum required by the bank you will be charged some fairly significant fee’s.

One thing you should consider is using an online bank which have gotten increasingly popular over the past several years.  You can generally earn a higher interest rate since the bank doesn’t have all the overhead costs of a brick and mortar location.

The difference in interest rates between online and offline banks has narrowed somewhat in the last several years,  but you will still earn more from and online bank so that is an option you should consider.

The bottom line is this: with the economy in such turmoil now is a great time to start a savings account whether you use it to save for a rainy day or just to keep your money safely parked until other investments start to make sense again.  Get the biggest bang for your buck by finding the highest interest savings account you can.

Highest Interest Savings Account -What You Need To Know is a post from: Debt Free Journey

A CD or certificate of deposit, is a low risk, fairly high return investment.  You agree to deposit a set amount of money for a set amount of time and in return your bank will pay you a set amount of interest (sometimes the interest rate will be flexible but often it’s a set rate).  CD’s are covered under the FDIC insurance or NCUA for a credit union.

This method of investing is far more secure than the stock market, and you will make  more money than you would with a standard savings account but it does have it’s downsides.

Here are a few things to keep in mind while deciding if investing in CD’s is right for you:

1) You can go to various websites like bankrate.com to compare interest rates.  Just remember interest rates are only one of the things you should take into account when considering opening a CD.

2) The terms can be a few months to 15 -20 years, generally the longer the term the higher the interest rate.   If you start early and you are investing for  college or  retirement this may not be a bad way to go.

3) You will incur substantial penalties if you withdraw your money early. You will lose some, or maybe even all, of your interest. The bank is paying you a higher interest rate so they have a guarantee that the money will be available for a set time.  That’s why they will hit you with a big penalty if you close your account early.

It’s very important that you fully understand the penalty amounts and when they will be accessed.  Different banks will have different penalty amounts, compare them before you choose a particular bank.

4) You need large deposits usually between $500- $1,000 to open a CD.  If you are just starting out you may not have enough money to deposit.  You can open a CD at your local bank or credit union, online banks, or with a brokerage house.

Taking control of your finances now can lead to a much more secure, and less stressful, future.  Finding  high cd rates and opening an account is a great way for you to prepare for your future, but just like  with any investment option CD’s are not for everyone.  Make sure you know all the facts before you hand over your money.

High CD Rates – What You Need To Know is a post from: Debt Free Journey

You have more choices than ever when it comes to opening a savings account.  You don’t just have to stick with your local bank.  You can open one online at many large national banks.

There is some evidence to suggest that an online account will make you more interest since the bank doesn’t have as much overhead.  This isn’t written in stone though so make sure you check.  You will usually need a higher deposit to open a high interest rate account and will often have a higher minimum balance to maintain.

Before you rush off to open an online savings account here are a few points you should keep in mind:

1) Interest rates are always changing so before you make your decision visit a website like bankrate.com.  But remember, interest rates should be only one consideration when choosing a bank.

2) Make sure whatever bank you choose, whether online or off, has a very competent and easily accessible customer service department.  You need to be able to talk to someone if you ever have a question or problem.

3) Make sure you fully understand any fee’s associated with your account.  Some savings accounts only allow you a certain number of withdrawals a month after which time you will be charged fee’s.  You need to know this and determine if it will fit in with your habits.

You may also be charged significant fee’s if your balance falls below the required minimum balance.  Make sure you know beforehand.  Even a bank that offers a high interest rate may not be worth it if they are going to ‘nickel and dime’ you to death with a bunch of fee’s.

4) How much money will you need to deposit in order to open the account?   Usually the larger the deposit the higher the interest rate, but not everyone has a lot of money to open an account.

5) Do you have to maintain a minimum balance?  If so, how much and what fee’s will be accessed if you fall below that level?  Again, think about your situation and decide whether or not that arrangement will work for you.

6) Most banks are FDIC insured, online or off, but don’t take that for granted.  Always make sure the bank you choose is FDIC insured.  (If it’s a credit union it will be NCUA insured).

It doesn’t matter if you open your account at your local bank or choose an online bank.  The important thing is that you find a way to put money aside so that if something unexpected happens you won’t have to rely on using credit.  Opening a high interest saving account is a great way to take control of your finances, start today.

Choosing High Interest Saving Account is a post from: Debt Free Journey

Not all online accounts are created equal.  As with most things in life, some are better than others.  You will not only want to look at the interest rate a bank is offering but other factors as well.

Here is a list of some things to consider when choosing and online bank:

1. Stability of the bank.  Even with FDIC insurance you still want to make sure the bank you choose is secure and not teetering on the edge of disaster.
2. If it’s one of the banks the government has recently bailed out you should probably steer clear, if for no other reason than they ran their bank so poorly they had to be bailed out in the first place!
3. Customer service.  This is particularly important with an online bank since you can’t always run down to the local branch and ask to speak to someone.  At the minimum you want a customer service department with long hours that is easily accessible.  The best combination would be phone accessibility along with email support, sometimes you just can’t wait for them to respond to your email.
4. How easy is the website to navigate?  What good is an online bank if their website is so poorly designed that it is very difficult to make any transactions? You also want to make sure their website isn’t constantly down for maintenance.  Again, you need to be able to make transactions when it’s convenient for you, not them.
5. Do they have offline locations?  That is a nice plus if there are branches near where you live.  As effective and time saving as online automation can be sometimes you need to be able to talk to someone in person.  Any online bank that also offers offline locations near where you live should be put at the top of your list.

Take some time to find the best online savings account at the best online bank.  Do some comparison shopping.  This is your money, isn’t it worth investing a little time to make sure whoever you trust it with will take good care of it?

Best Online Savings Account- What To Look For is a post from: Debt Free Journey