The Money Tutor

Monday, January 23, 2006

Save More Money

There are two simple ways to save more money and they are:

1. Make more money
2. Spend less money

If you are unhappy with the amount of money you are saving then look for another job or other sources of income. Try asking for a promotion/raise at work. There are many websites out there giving great advice on the best way of doing this. I can refer you if you'd like. Maybe you know you won't get a promotion/raise at your current job. This means you need to look for a new job. Don't just quit your job tomorrow because you read this. Changing jobs takes time. Start by searching on the internet at websites like or Let the people around you know that you are looking for a new job. I tried this myself and received an overwhelming response from friends and acquaintances. It might not be wise to ask co-workers, unless you REALLY trust them.

Once you find a few jobs that interest you get your resume ready. Do NOT send the SAME resume to different employers. This is what I do. I have a "standard" resume that has almost all my information (accomplishments, work experience, important dates, etc.). Then what I do is look at the job I am applying for and tailor a resume just for that job/position. This makes the resume better because you are only using useful information. You might even consider not mentioning some jobs or hobbies or things that are not related to the position you are applying for. I do this because my resume would be three pages long and no hiring personnel would care to read it. Resumes are ONE PAGE ONLY. Don't even try stretching the margins. If you don't have much work experience put down your community service. Another rule I go by and everyone should to, NEVER LIE! Here is a wrap-up:

1. Resume should be one page
2. Never lie
3. Tailor your resume
4. Proofread

Get some tips on interviews from the websites I mentioned. If you need any specific help, feel free leave a comment or e-mail me.

As for spending less money, I will be posting about that soon.

Thursday, January 19, 2006

Money Alert!

ING Direct is offering an APY of 4.75% on any new deposits beginning now until April 15th. Deposit some money to take advantage of this offer or create a new account today. Current deposits will continue to earn the usual 3.80%. If you would like to get an additional $25, e-mail me for a referral. Go to their website for more information.

Saturday, January 14, 2006

Over $25,900 in Savings!

Here is another way to save some serious money on dining, attractions, and shopping! Yes, saving money can sometimes mean that you will have to give up on some of your favorite pastimes. Remember, if there is a will, there's a way. Introducing, the North Jersey Entertainment book. It is a huge book filled with coupons for local restaurants, movie theatres, stores and much more. There are over 156 different books in case you don't live in the North Jersey area.

The North Jersey edition includes:

- 297 Dining Discounts
-• 201 Attraction Discounts
-• 156 Shopping Discounts
- Over $15,000 in Travel Discounts
- Movie Ticket Discounts & Much More...

This book is awesome. Not only do you get all these coupons but you get a membership card for extra savings at your favorite places. You can also register online for special online coupons. Movie tickets are always $5.50, so never pay $8.75+ ever again. Many of the coupons are 2 for the price of 1 or 50% off. These are great for dates! You can even preview the book by clicking here.

The 2006 edition is already out and expires in November. If you really want to save some money when you go out, do yourself and your wallet a favor and buy this book. The book retails at $30 (sounds like a lot but pays off after a week) but I found mine on eBay for $22.49 including shipping.

Wednesday, January 11, 2006

January Special

I haven't been going to the movies as much as I would like to recently. There is only one reason for that: I don't have a job! Honestly, $8.75+ for a movie is pretty darn expensive. Yeah, I know I can catch a matinee for $6.00 but who likes to go to the movies that early? Not me! Besides its Winter time, the days are shorter; I'm trying to enjoy as much sunlight as possible! Also, I know some people who get discounted movie tickets at work, but I don't want to bother anyone! Plus, they have some restrictions! Well here is the January Special. This is good for any movie, Monday-Thursday, + a free drink size upgrade for only $5 throughout this month. This offer ends January 31st. Print the coupon now!

(Jersey Gardens, Elizabeth only)

Tuesday, January 10, 2006

Incentive for Saving

In case you did not have enough motivation to get your finances together this year, here is a little incentive:

Okay, so you have a savings account. Good. Now what is the APY (Annual Percentage Yield aka interest rate) on your savings account? It is VERY likely that you will find a number somewhere between .4%-.5%. Also, have you noticed that no matter how much money you're are putting into your savings account that you still are only getting a few cents in interest every month? By leaving your money in this savings account, you are actually losing money. Why? Take inflation into consideration. Chances are you will only earn a few dollars a year.

Explanation: Let me introduce you to online banking. Yes, online banking. I don't mean your local bank's website, I mean ONLINE BANKING. See one of the reasons your local bank does not pay you as much interest as an online bank is because your local bank is a physical place. And I bet there are at least five other branches in a few miles radius. On the other hand, online banks don't have many branches if any. All business is conducted online or through the mail. Not having to pay leases or rent for an actual building saves the bank money, and the online bank passes that extra cash down to you, the customer.

Solution: ING Direct has an active promotion that credits you $25 upon opening a new savings account (If you are referred by someone). ING Direct currently pays 3.80% APY! Notice the huge difference? This difference means more money for you! Don't hesitate, open an ING Direct Savings Account today! Remember to get your $25 sign-up bonus you must be referred and deposit a minimum of $250. Email me for the referral.

Sunday, January 08, 2006

Post Office Blues

Today is the first day of the newest postage increase. Regular postage stamps are now 39 cents each as opposed to 37 cents. It sounds like its no big deal but the United States Post Office generates billions of dollars in extra revenue. I can't complain about the price of postage, after all they're just keeping up with inflation and rising fuel prices. However, I have the right to complain about the Post Office itself.

Every time that I go to the post office there is a huge line no matter what time it is. I believe there are five registers and for some reason there is usually only one or two Postal Service personnel serving customers. I never understood this. Additionally, it is not just my local Post Office; I have been to several miles away from each other and I see the same pattern. Why doesn't the Post Office keep up with supply and demand?

Speaking of supply and demand, the Post Office was out of two cent stamps-not surprised. Then they were out of one cent stamps-no surprise here either. Then this is the amusing/stupid part. The Postal workers would announce, from time to time, that they did not have one or two cent stamps but that they had three cent stamps. Everyone was buying three cents stamps like there was no tomorrow. But why? This means that they would be paying 40 cents a stamp as opposed to 39 cents. I thought to myself, "Hello, you should just buy 39 cent stamps and buy two cent stamps next week!" Wouldn't that be the best thing to do?

Thursday, January 05, 2006

Lesson One

Happy New Year! "A year older and not a penny richer." Is this you? Be honest. The first step in achieving financial success is writing down your financial goals. I know, I know... it sounds stupid, but it works!

Begin by asking yourself what you would like to accomplish this year. Would you like to have more money this time next year, or less? If you want to have more money by this time next year, please continue reading.

Many of you might believe that you are too young to worry about your finances. Or that you make too little money to think about saving or investing. The truth is that the most popular regret among investors is that they started late. The younger you are the greater the advantage you have! In investing (and saving money), TIME=MONEY. I will write more about this soon.

Having trouble thinking of financial goals or resolutions? Here's a few:

-Open a savings account (even if it's with $50)
-Create a budget and stick to it
-Spend less
-Stop buying things you can't afford
-Pay off late bills, credit cards, student loans, and any other debt
-Get a job (This one's for me!)
-Make your money grow (think beyond a savings account)
-Open a 401k with the company you work for
-Open a Roth IRA

Homework: Write down your financial goals for 2006 on paper (ie. Notebook paper, Journal or Diary, Post-It Note, Index Card...)