Posted by Jennifer Santosuosso on 12/14/2015

When times are tough you look to cut back anywhere you can. The price at the pump can be a real budget buster. There are ways to save on gas and get better mileage from your dollar. Slow down Speed is the biggest factor on fuel economy. Driving at 55 mph instead of 65 or 75 will save on gas. Tests have shown increasing speed from 55 mph to just 65 mph dropped fuel economy from 40 mpg to 35. While driving at 75 mph can cost the car another 5 mpg. Go smooth Keep a steady pace; avoid hard acceleration and braking if possible. Frequent acceleration and braking can reduce mileage by 2 to 3 mpg. Driving with smooth acceleration, cornering, and braking will also extend the life of the automobile. Don't be a drag When driving on the highway, more than 50 percent of engine power goes to overcoming aerodynamic drag. Carrying large items such as luggage racks and top-carriers reduce fuel economy. Warm Up Take the time to warm up the engine before taking off. Cars run most efficiently when they're warm. Stopping and starting the car several times is a big factor, try to combine several short trips into one so that the engine stays warm. Pump up Check your tires. Underinflated tires compromise handling and braking which in turn can reduce fuel economy. Check the pressure of your vehicle's tires to make sure they are correct. Keep moving Idling is one of the worst things your car can do, when idling your car is getting zero miles per gallon. Turn off your engine if you expect to sit for more than about 30 seconds. Practicing these simple tips should have you putting less money in your gas tank in more in your wallet in no time.




Tags: Save Money   gas   money  
Categories: Money Saving Tips  


Posted by Jennifer Santosuosso on 11/1/2015

Imagine if you could make your student loan disappear. According to American Student Assistance, a non-profit that aims to educate young people about money say it is possible. Both the federal and state government, as well as some non-profit organizations offer loan "forgiveness" programs. Do the right paperwork and you could be loan free. While there is no single comprehensive listing of loan forgiveness programs, there are programs for some specific professions. Here are a few of those: Law school graduates who become a district attorney or a public defender are eligible to apply for the John R. Justice student loan repayment program. This program pays up to $4,000 a year towards an eligible applicant's debt up to the maximum of $60,000 per graduate. The National Health Service Corps offers an even more generous program for health professionals. This program repays up to $60,000 in debt in just two years for students working in medicine, dentistry or mental health in underserved communities. Graduates who are willing to work part-time on medical research could eliminate up to $35,000 in debt per year with a program funded by The National Institutes of Health. If you are willing to trade a few years of service for loan forgiveness you are in luck. There are various federally funded loan repayment programs for fire fighters, teachers, nurses, librarians, speech pathologists and employees of non-profits.  The programs don't typically ask graduates to work for free but they might receive less pay in order to repay the loan. The value of the loan repayment is likely to more than compensate for the lost wages. Because there is no comprehensive list of forgiveness programs it pays to do your research. There are many organization's websites that can help students find the right fit.





Posted by Jennifer Santosuosso on 10/25/2015

Going to college can be a very expensive endeavor as a result of the financial requirements and obligations.  It requires a lot of financing from textbooks, to housing accommodations, transportation and other miscellaneous expenses.  This does not even include the cost of tuition. There are several ways of handling these costs effectively without going broke. Here are a few suggestions to assist in your financial planning. 529 College Plans This is a form of investment that allows parents to set aside some money towards their kid’s education, allowing it to appreciate in value tax free.  This implies that when you withdraw from your savings, as long as the funds are used for the purpose of your child’s education, you will not be taxed. Irrespective of your income, and other family members can contribute to a 529 account. Coverdell Education Saving Accounts (ESA) This account functions like an IRA. But in this case, it is for education and not retirement. With this form of savings, you can make contributions up to $2000 with post tax dollars and allow the money to grow tax free. When you withdraw, you are not taxed on the money or interest as long as it is used for the purpose of education. IRA and Roth IRA Accounts Basically, these accounts are investment accounts used to save money for college or retirement with no significant taxes. They come as deductible and non deductible accounts. In order to qualify for this type of accounts, your income as well as an existing retirement plan is taken into consideration. With a deductible IRA, tax is deducted from your annual contributions. When you make withdrawals, you will be taxed based on your contributions and earnings. Roth IRA, contributions are not tax deductible and your earnings are also tax free if your withdraws after a five year period are used for an appropriate expenses like college tuition.





Posted by Jennifer Santosuosso on 10/11/2015

In today's economic climate protecting your financial health is more important than ever. From health insurance to your plans for retirement, there’s a lot to consider. Here are some tips from Family Wealth Management Group, LLC to help protect your assets and financial future. It is never too early to plan In order to plan, you need to know what you have. Review your pension plan, 401 (k), IRAs, Social Security benefits and other savings plans to assess whether they meet your long-term retirement goals and will generate an income stream to meet your projected expenses. Curb spending Time to take an inventory on how much you spend. Keep a log on trips to the market, afternoon lattes, dry cleaning and all of your miscellaneous spending. Try to eliminate a portion of these expenses. Once you track them you will realize you are spending more than you thought. Re-define your financial goals Ask yourself where you see yourself in five, 10 or 15 years. See if it is possible to redefine your goals. You may be able to retire earlier or pay for college. Set goals to achieve the things you want. Get help Professional advice about investment losses, financial products, insurance coverage and other important issues will help you make the right choices for your current financial situation.




Categories: Money Saving Tips  


Posted by Jennifer Santosuosso on 11/30/2014

Do you have clogged drains? All of us will experience a backed up drain at some point in our life. Store bought drain cleaners have harsh chemicals and can be expensive. Homemade drain cleaners can be an effective alternative to the store bought ones, and you probably have everything you need in your home already. Here is how to clear your drain the natural way in just a few minutes: 1. Pour ½ cup baking soda into the drain. 2. Pour ½ cup of vinegar into the drain. 3. The ingredients will start bubbling and fizzing. 4. When the bubbling and fizzing has stopped pour boiling water into the drain. 5. Flush the drain with hot water. You may have to do this a few times, but soon your drain should be as good as new.