Know a grad?  Almost everybody does, and while you may want the very best for that newly graduated guy or girl, many of use can’t afford much more than a twenty for their gift (especially if you’ve received dozens of invites!)  These gifts won’t seem cheap, and they can really make an impression:

A letter of recommendation – This costs you nothing but time and an investment of your word.  Dole it out to only those grads you trust and can honestly recommend, and let the grad know in their “congrats” card that they’ll have a letter waiting when they’re ready.

A gas card – $20 won’t get you much gasoline these days, and quite possibly will buy even less by the time the cap and gown are worn.  The extra twenty in fuel can be handy tucked into a wallet for an emergency, however.  I don’t know anyone who hasn’t welcomed this gift.

Cooking utensils – If the new grad is venturing out on their own, either to a dorm or an apartment, they will need something to cook eggs with.  I remember how useless I felt when I figured out that a spatula, whisk, wooden spoon, and other necessities weren’t something I could get by without, and they are rather difficult to get a full set at yard sales. You can find great value at Amazon.

Cleaning supplies – Here is another “moving out” gift that new grads won’t want to buy themselves.  Toilet cleaner isn’t a priority for kids on a budget, so help them (and their roommates out), by getting them started with a plastic caddy and products to shine the sink.  If nothing else, it gives them a blueprint for what items they’ll need to keep things manageable.

A home-cooked meal – Feeling hospitable?  Leave a note in the graduation card letting them know that they will have one home-cooked meal a month waiting for them during their first year (eating it with you is optional.)  You can easily whip up an extra plate of pasta, chicken, or whatever they are craving.  (This obviously only works if the grad lives close by.)

Postage stamps – Another rising commodity, stamps aren’t something young adults usually budget for.  Get $20 worth of forever stamps and set them on a path of paying bills and sending birthday cards on time.

First Aid Kit – Yep, this is another “you don’t know you need it until it’s too late” gift, and nothing beats a box of band aids, some first aid products, and a good manual on handling an emergency.  They can set you back more than $20 if you aren’t careful, however, so consider buying one from a warehouse retailer or stocking one yourself from items you buy individually.

College book store gift card – While $20 won’t even make a dent in the cost of a single textbook, it can be a blessing to a student stuck having to grab something in an emergency from the campus store.  The sticker shock at these places can be bad.  A twenty dollar head start is more than thoughtful!

Your professional skills – Handy at auto repair? Not too shabby at polishing a resume?  Offer an hour or two of your time to a new grad.  Assuming it’s the right skill, it can be something that they will really value!

A care package – Those sappy commercials are full of well-meaning adults sending care packages to college kids.  Except for holidays and that eventful first month of college, however, most college kids I know never see them come to fruition.  Make a commitment to send a care package to each kid on your graduation list this year, and follow through.  You can stay in contact with their parents, if you aren’t sure of their destination.  Just make sure that the gifts are generally cool (candy, movie rental codes, etc) and not creepy.

Do you remember your first year as a new grad?  What item do you wish you received as a gift?  While I loved all the cold, hard cash that I got right out of high school, I wish I had received some items with a bit more heart.  You can’t after all, blow through antibiotic ointment quite like you can dollar bills.

The post 10 Great Graduation Gifts for Under $20 appeared first on Financial Highway.

       

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Ever since I got new place and did an inventory of my necessities and niceties, I figured out I was overspending at my old pad. Common things I realized I didn’t need, use, or even want were eating up an eighth of my paycheck. Read on below to see what they were, how much it used to cost, and how to replace it with something cheaper.

1. Having a Landline

Landlines are antiquated. Comcast charges $29.95 a month for unlimited talk and text on their landline phones for six months, and then shoots back up to $39.95 -$44.95 a month.  I was also surprised to see accessible voicemail listed a premium service. There’s no reason to pay for a landline anymore, not if you have an Internet connection and a cellphone. You can use free services like Skype, Google Hangouts and Google Voice to connect via video or phone chat for conversations. If you find that you spend lots of time on your landline, consider upgrading your cellphone bill to unlimited talk –I’m confident it won’t add an extra $50 to you bill like a landline does. [Also See: 4 Reasons to Keep Your Landline]

• Old cost: about $420 a year (six months at $29.95 + six months at $39.95)
• New cost: $0
• Savings: $420

2. Buying bottled water

I used to buy lots of bottled water, especially when I was on an exercise kick. I would buy about half-dozen gallon jugs a week, each costing about $2 each. That’s $12 a week, or $48 a month, or $576 a year. Yikes. I’d also end up kicking empty jugs around and filling up my trash way to quickly. Not wanting to make my new place dirtier than it was inevitably going to be, I figured I’d find a water filter. I went ahead and bought a Bobble jug for $23.43 at Amazon. Filters last a couple months and cost $8 at Target (note: I’ve read the reviews, and some people complain about slow filters, but I haven’t had a problem yet. Hopefully it stays that way, cause I like this thing).

• Old cost: $576 a year
• New Cost: $71.43
• Savings:  $504 .57

3. TV subscriptions

Do you like to binge on shows, watching an entire season the day before the newest one comes out? Do you like to watch movies when they’re ‘on’ TV, but don’t necessarily find yourself running to a Redbox? Then ditch your cable TV provider and get Netflix or a Roku. In 2011, the average pay TV service hit $86 a month, and is growing at 6 percent annually, according to the NPD Group.  True, some bundles will offer better deals and include Internet, but those only last so long. You don’t want to get a $49 a month special for TV and (slow) Internet for six months, and then all of a sudden be locked into $100 a month. I use Netflix’s streaming-only service for $7.99 a month and hook up my computer to the television with a $5 HDMI cable.

• Old cost: $1032 a year (at $86 a month)
• New cost: $96
• Savings: $936

4. Virus protection

I thought I was getting a good deal for a one year’s worth of virus protection by McAfee for $29.95. And then I figured out I could just get free virus protection from Avast!, CCleaner, or Microsoft Security Essentials. In my experience, virus protection does nothing. I scan everything I download with Avast!, and I regularly sweep my computer for cookies and old registry files with CCleaner.  The result? No infections. Just be careful where you plug in your credit card information, change your email passwords every three to four months, and keep an eye on your bank account for unusual charges.

• Old cost: $29.95 a year
• New cost: $0
• Savings: $29.95

5. Daily Starbucks

Out of everything on this list, this was the hardest. It was also one of the more expensive ones. Of course, if your coffee sucks, you’re not going to go straight back to $7 lattes. Grab these tools:

$5.68 for a milk frother

$16.34 for a French Press or  $22.33 for a coffee maker

$13.99 for a no-frills coffee grinder

You’ll also need beans. That cost is a variable, but it should run you maybe $8 a lb. If you have a Trade Joe’s, they have some great, cheap beans for sale. Buy them whole, and chop them before using the French Press or coffee maker. If you want to make a latte, heat up some milk (or soy milk’) in a pan and use the frother as it’s heating. Add some sugar for a sweeter flavor; it’ll turn into a thick, foamy froth that will sit on top of your coffee.  Now you can make simple lattes that hit the spot and save money.

• Old cost: $30 a week (five coffees a week at $6 each).
• New cost: One time cost of $36.01 for the frother, French Press, and grinder. Add about 2lbs of beans a month for $16.
• Savings: pays for itself within a month.

Have you cut anything out of your life after you figured out how much money you were wasting? Let us know in the comments.

The post Ways You’re Wasting Money & Don’t Even Know It appeared first on Financial Highway.

       

Comments

• We haven't had a land line or cable for years and I know it's ... by Kendal @HassleFreeSaver
• We have cut out a number of these things and it really does ... by John S @ Frugal Rules

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Looking for a job can be stressful. While job search engines are great, using social media to land a job is a sometimes overlooked, but fantastic tool in finding a job. It allows you to showcase your work how you’d like, be creative, and connect with people very easily.

Here’s how to use social media to find a job:

LinkedIn

The most important social media to use in your job search is LinkedIn, since recruiters often search the site for potential candidates and job searching is it’s primary role. Use your job title or summery to mention that you are looking for a job and describe the position you’re looking for. Be sure to create a fantastic LinkedIn profile by asking for recommendations, adding skills and expertise, describing your education and work experience, joining groups, and connecting with people in your field.

Twitter

Twitter is an easy way to network since you can follow people you haven’t even met yet. Follow people in your field, past colleagues, and old classmates, and simply send a brief message that you’re looking for a particular job and ask them if they know of any availability. When making your profile, keep it professional, include a brief description of qualifications, a link to an online resume, and mention you are looking for a position. Start following appropriate news sites and publications in your industry. This will not only keep you updates with your industry, but you’ll start to appear as a suggestion for people who follow similar people, thus getting your job search more exposure.

Here’s who you should follow:

• Your college’s alumni association
• Companies you might be interested in working with
• Old colleagues and college classmates you’ve worked with in the past
• @MonsterCareers and @CareerBuilder offers job-seeking tips and career advice
• Search for job listings to follow with your specific career. For example, I follow @journalism_jobs because I’m in journalism.
• Check to see if your local newspaper and local broadcast news has a specific Twitter handle for job listings
• Whenever you connect with someone on LinkedIn, check their profile to see if they have a Twitter you can also follow

Facebook

Just like with Twitter, Facebook allows you to “Like” companies you might be interested in working with, job agencies, your college’s alumni group, and any page that may offer job search advice and listings. Be sure to limit your privacy settings, and be conscious of what you’re posting if you are mixing professional and personal. Instead, consider having two Facebook accounts. One can be for friends and family to post photos of you, tag you at places, and other features, while your professional can focus on an elaborate profile detailing your resume and qualifications. This way, with your professional page, you can message businesses, old colleagues, and others, and your message won’t get lost in the shuffle.

Flikr, Instagram & Pintrest

If you can offer something visual for your prospective employers, join Flikr, Instagram, and Pintrest. Photographers, fashion designers, stylists, interior decorators, make-up artists, and many more professions can take advantage of this to broadcast their work. Just like with Twitter and Facebook, be sure to extensively fill out any profile with information about your education, past work experience, qualifications, and that you are looking for work.

Social Media Job Search Tips:

• Keep your full name or at least a professional name for your usernames.
• Be sure your photo is professional as well.
• Limit what you post to professional, on-point postings.
• Don’t get too personal.
• If you have a portfolio or blog, link it on your profile.
• Try to connect with many people, but mainly relevant people.
• Use social media not just to post, but also to interact with people.

How can you use social media to help with your job search?

The post How to Use Social Media in Your Job Search appeared first on Financial Highway.

       

Comments

• Social media is huge in looking for a job, especially LinkedIn. ... by John S @ Frugal Rules

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This post was originally published on August 13, 2011. This is an updated version.

I don’t typically write first person stories about my own financial situation. However, I had a really positive experience with social lending. Although a lot of people have used peer-to-peer lending for both borrowing loans and investing money, there are still many people out there who don’t know if social lending is right for them. That’s why I thought I’d break from my traditional format to share my first person story about why social lending worked for me.

What is Social Lending?

Just in case you aren’t familiar with peer-to-peer lending yet, it’s basically a social option for borrowing and lending money. As a borrower, you create a profile explaining why you need a certain amount of loan money. Investors on the site can then choose to fund you. You pay a small interest fee for the loan, and the investors earn that interest for making the loan to you. The specifics of how the loan works, how many people fund you, and what interest rate you pay vary based on your creditworthiness and also based on which social lending site you choose to use.

If you need a personal loan check out Propser’s great rates.

My Situation: Why I Needed a Loan

When you apply for a peer-to-peer loan, you have the opportunity to explain precisely why you need the loan. You also get the chance to explain why someone would want to take the chance on investing in you. Here’s the information I shared on my profile requesting loan assistance.

“I am a freelance writer / blogger who has worked independently for nearly ten years. I am highly responsible with my finances and have been able to consistently pay all of my bills on time in spite of my freelance status. In fact, at the end of 2008, I had paid off all of the credit card debt that I owed and started a savings account.

Unfortunately, I’ve come into a series of health problems this year. I do have health insurance but it’s not covering a large percentage of the bills that I have to pay. None of these health problems are ongoing. (They are things like an emergency removal of painful wisdom teeth, which cost several thousand dollars.) However, two things have occurred. First, I am having trouble paying the bills without entirely depleting my savings. And second, because of the recovery time for my conditions, I’ve been working less, which has reduced my income.

I do have the credit cards necessary to make these payments if needed but was hoping to get a better rate on a private loan since my credit card interest rates are high. I have a very strong history of loan repayment and I do have a steady income despite the fact that it’s been reduced due to the medical conditions.”

Why I Chose Social Lending

I chose to get a $10,000 loan through Lending Club a few years ago. Note that I chose this social lending site because it had the best offer for me at the time, but I don’t have enough experience with other popular peer to peer lending sites (like Prosper) to say for sure how it compares. The reasons that I opted to get this loan through a peer to peer lending site included:

• I had fairly solid credit, but it wasn’t good enough to qualify for a loan this high from a traditional source like my local bank.
• After poking around the site, I learned that the interest rate that was offered to me through the site was favorable compared to any other loan options that may have been available to me at the time (even for lower loan amounts than the $10,000 I was seeking).
• I liked the idea of being able to benefit other individuals through the loan by having my interest paid to them instead of to a large corporate institution.

Check out Mint.com’s great money savings tools such as: Credit Cards, Brokerage Accounts, Free Credit Score and more!

How Social Lending Played Out For Me

I was successful in getting the loan that I needed. I was able to get a $10,000 loan at an interest rate below 9%. The length of the loan was supposed to be 3 years with monthly payments just over $300 per month. That was reasonable for me. The payments were made automatically from my checking account each month, but I received an email notification before the withdrawal took place so that I was able to make sure the account had enough money and would never be overdrawn.

When my health improved, I was able to get back to a normal work schedule and to save up the money to pay off the loan early. There was no penalty for doing this, and the process was really easy. The downfall for my social investors was that they made a bit less in interest than they may have anticipated, but they did make some interest and were repaid in full.

Peer-to-Peer Lending In My Future

Because of my positive experience as a borrower from a social lending club, I would definitely use this option if I needed a loan in the future. However, I would still take the time to compare the rates of this loan with other loan options just to make sure it was still financially the soundest choice. Although I have not been an investor in one of these sites, I’m highly interested in pursuing that option in the near future.

Question for You:

Do you have any experience with social lending either as a borrower or a lender? Share your experience in the comments, if you do!

The post Peer to Peer Lending Worked for Me! appeared first on Financial Highway.

       

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Many mobile professionals are under the impression they need to own every portable computing device and gadget on the market in order to be the best whiz kid on the block. One of the decisions many people struggle with is whether or not a tablet or laptop will meet their mobile needs. When considering the tablet versus laptop purchase, there’s more to think about than simply how often you travel. A number of issues factor into an informed choice, and I address several of the prominent ones below. (See also: Inexpensive Overhead Solutions for Starting Your Small Business)

What’s Your Work?

If you’re focused mainly on communication coordination and conceptual consulting, chances are you will be able to function just fine with a typical tablet and keyboard combination on the road. However, if you create massive amounts of content for a living like I do, and need to operate in multiple programs and screens at once, getting your work done from a tablet is virtually impossible. Either there isn’t enough juice to run all the programs you need at once, you have a tablet that’s a one-program-at-a-time product, or you have a combination of the two. That being said, it sure is nice to have something you can fire up quickly on airport Wi-Fi between flights to check email and catch up on social media promotion. This and the ability to carry multiple books on a single, lightweight device are two of the main reasons I dished out for a Kindle Fire. At roughly two hundred bucks, it gives me access to the functionality I would find useful in a tablet without the extra cost for a full tablet that I can’t use to its full potential.

How Do You Travel?

Do you mostly take road trips only to land immediately at a residence suite, rented cottage or short-term studio apartment? Chances are you can get by with a laptop and a mobile phone. Are you frequently stuck in airports with brief layovers between flights where no Wi-Fi is available? A tablet might come in handy in that case, particularly if your content development projects include shorter bits of copy. (See also: Frugal and Productive Ways to Kill Time Before a Flight)

How Many Devices Do You Desire?

Hey, not everyone feels the need to be a minimalist when it comes to tech equipment. Similarly, there are many of you who may not be as restricted as I am with regards to functioning out of a single rolling backpack for nearly every trip that isn’t made in an automobile. If you feel you’re more effective managing a mobile office with both a tablet and a laptop, that’s your decision. However, if you are planning a trip that’s also to serve as a working vacation, you may want to save some room for extra wardrobe changes and avoid a larger machine altogether.

What’s Your Weight Limit?

Slinging a bag or two into the car and not having to deal with them again until you reach your destination is one thing. Sprinting through the airport with 30 pounds over your shoulder and another 40 rolling behind you, only to have to lift them over your head on the fourth flight connection of the day in order to store them is another. Especially for a two-three day trip. That’s when traveling with a tablet device might be your best bet, provided you’re able to postpone fresh content development projects until you return.

Clearly deciding between tablet vs. laptop will take some thought and consideration. The bottom line? The final decision will be closely tied to both your work style and travel schedule.

The post Tablet Vs. Laptop: What to Consider Prior to Purchase appeared first on Financial Highway.

       

Comments

• By: Dating & Money, Sustainable Landscaping, Tablet or Laptop, and More! | Million Dollar Journey by Dating & Money, Sustainable Landscaping, Tablet or Laptop, and More! | Million Dollar Journey
• It can be a tough decision to make. I think there are a lot of ... by John S @ Frugal Rules

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We can’t be good all the time. Sometimes, it makes sense to splurge a little.

While you don’t want to splurge constantly, it can be beneficial to you to splurge every now and then.

What is a Splurge?

There are many different ways to look at a splurge. In general, though, a splurge is something somewhat unexpected that you are willing to pay extra for. A splurge is something that you choose to upgrade. Whether you decide to fly first class this time, or whether you decide to buy a loved book, rather than check it out of the library. Most of the time, splurges are completely unnecessary. They aren’t things that you require for survival. They are usually unneeded — but fun.

Take a Break from Pinching Pennies

For some, it becomes tedious to constantly be pinching pennies. At times, a break from frugality is just what is needed to stay on track.

Set aside some fun money regularly. This is money that can be used on something spontaneous. While you might be planning to make sure that the money is available to you, you can use it on any expense you want — including (and perhaps especially) on something frivolous.

Even if you use a zero-based budget you can take a break from the planning for a splurge. Simply label one of your categories “splurge” and then spend the money on something surprising. It doesn’t have to be a large splurge, either.

Even splurging on something small and simple like a $5 latte, or a $30 manicure can be refreshing. These occasional splurges can keep you from becoming discouraged with frugality. A splurge every now and then, reminding you that you can be spontaneous with your money, can be just what is needed to keep you on track the rest of the time.

Splurge on Something You Enjoy

While your splurge doesn’t have to be on something you need, it should be on something you enjoy. Think about what you like to do, but that you don’t get to do very often. That might be just the thing to splurge on.

A splurge should be something out of the ordinary, that you wouldn’t normally spend money on. Whether it’s dessert at a restaurant, or a new book, pick something that enhances your quality of life, while being fun. As long as you can afford the splurge, there’s nothing wrong with enjoying it. In fact, I think you should do your best to enjoy some of your money.

I like to splurge on experiences. When I’m traveling, I’ll spend extra to stay at a nice hotel. I like to buy small souvenirs (usually fridge magnets), so it doesn’t bother me that they’re over-priced. I also enjoy splurging a little when I find something I think my husband will enjoy. It’s fun to see the look on his face when he opens the present. These experiences stick with me, and serve as reminders of what’s most important to me.

Don’t Go Into Debt for a Splurge

While it can be fun to splurge, remember that you don’t want to go in debt over it. Your splurges should git within your spending plan. You should have the money for a splurge before you go out and spend. And if you know you are going to go big on something (like a vacation), make sure that you save up for it.

It might seem counter-intuitive to save up for something that’s supposed to be spontaneous, but it’s vital that you be able to afford your splurges without going into debt. That way, you can avoid the interest that can lead to taking years to pay off your debt.

Remember, too, that your splurge can’t become a regular habit. It’s one thing to splurge on something small every so often; it’s quite another thing when a luxury splurge somehow morphs into a “need.”

As you enjoy your splurges, it’s important to make sure that your splurges stay just that — occasional fun purchases.

When you splurge, what are you most likely to splurge on?

The post When Do You Like to Splurge? appeared first on Financial Highway.

       

Comments

• Lol….I'm with you on the travel… by Ray
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We have made it through the RRSP and Tax deadlines, phew! If you have not filed and paid your taxes by now and still owe, you are in trouble! For most of us the hectic time of the year has ended, no more running around and finding receipts and T forms. If you are getting a tax returned, consider investing part of it and use the rest to splurge!

Let’s look at the Top 4 articles on Financial Highway over the last few weeks. Before I get into that, here is a quick reminder that ING DIRECT Canada and CapitalOne 360 (former ING DIRECT USA) are still offering the cash reward for opening a new FREE checking and/or savings account.

How to claim your $25? (Canada)

It’s simple, just copy the Orange Key (39597236S1):

1. Go to ING Direct. Find the right account for your needs and at the end when asked for Orange Key just enter this number (39597236S1) .

2. Find the right account that fits your needs.

3. When asked for Orange Key just enter this number (39597236S1)

You will see $50 deposited in your account in a few days when they receive your check.

How to claim your $50? (USA)

1. Go to CapitalOne 360

2. Click on Apply now and open an account.

3. Open Electric Orange and make a total of 3 Card purchases or Person2Person Payments (or any combo of the two) within 45 days and your $50 will be automatically deposited in your account.

Top 4 Articles on Financial Highway

5 Reasons Not to Cancel Your Credit Card

The Emotional Effects of Debt and How to Deal

6 Things Not to Do When Starting a Home Business

Tips for Vetting a Work from Home “Opportunity”

Over on How I Make Money Online I reviewed Market Samurai and offer a great discount!

This Weeks Reading

6 Things to Know Before Quitting Your Day Job @ We Only Do This Once

Moneycation: The bottom line: will a travel rewards card work for you? @ MoneyCation

5 Things I Wish I Knew Before I Graduated From College – Frugal Rules @ Frugal Rules

Three Hands And An Action Plan~I’m A Mom On The Go! @ Canadian Budget Binder

Spending With Retirement in MindConsumer Ledger @ Consumer Ledger

When splurging is SO worth it – 50-inch LED HDTV Giveaway @ My Own Advisor

Debtblag: Four things about student loans I’m glad I knew (also my first payment!)@ Debt Blag

Find the Perfect Wedding Anniversary Gift for Every Milestone. @ Making Sense Of Cents

The 5 Mistakes You Don’t Want To Make As A Young Investor @ Whiz Silver

I Waste Money On Food Just Like Many Americans @ Solving The Money Puzzle

Should I Sell my Singer Sewing Machine?  @ Financial Black Sheep

7 Smart Ways to Spend your Tax Refund @ Million Dollar Journey

Save Hundreds of Dollars Through Small Repairs @ Canadian Finance Blog

The post Weekly Review – ING $50, Top 4 April & More appeared first on Financial Highway.

       

Comments

• By: The Saturday Weekend Review #19- Mothering Sunday Is Mother’s Day! | Canadian Budget Binder by The Saturday Weekend Review #19- Mothering Sunday Is Mother's Day! | Canadian Budget Binder
• I like how you get right to the point “you are in trouble” ... by Canadianbudgetbinder
• Thank you for the mentioning one of my posts. It is much ... by Jane Savers @ Solving The Money Puzzle
• Thanks so much for the mention, I really appreciate it! Yea, ... by John S @ Frugal Rules

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When we think of bad credit, many of us think about the ways that bad credit can harm our chances at getting a loan. Bad credit can lead to higher interest rates, which can cost more money in the long run. Part of borrowing smart is making sure that you have good credit so that you pay the lowest possible interest charges. [See: 3 Surprising Ways Your Credit Score Could be Costing You]

However, paying more money for your loan is not the only way that bad credit can hurt you. Poor credit can harm you in other ways — including causing you problems in your personal life.

Emotional Stress

In many cases part of the reason consumers have bad credit is due to their high levels of debt. Your credit score suffers when you have high credit utilization. If your credit cards are maxed out, it can weigh on your credit score.

The poor credit score isn’t your only problem. When you have that much debt, it places emotional stress on you. This emotional stress can affect your mental and physical health at home. Emotional stress can cause anxiety and depression, and lead to difficulty in your personal life.

When you are stressed about money, as evidenced by your bad credit, it becomes difficult to effectively manage your emotional state — much less enjoy financial security.

Relationship Problems

Your bad credit can also prompt relationship problems. Money problems can lead to fights about money, and place strain on relationships. Disagreements about how to tackle the bad credit situation, and the bad debt situation, can lead to difficulty in your romantic relationship.

However, bad credit can also affect other relationships as well. Your stress and anxiety regarding money can lead to you having less patience with your children, and with other people in your life. You might be embarrassed to participate in activities with others, or afraid that they will learn about your credit problems. If this is the case, it can cause strain in your other relationships, and lead to problems relating. [See: 7 Tips for Fighting Fairly About Money]

Trouble Finding Housing

Another difficulty that can come from poor credit is difficulty finding housing. If you rent, some landlords will check your credit before approving you. This can mean that you don’t qualify to live in the apartment or house that you are interested in.

In some cases, you might be required to pay a larger security deposit, or pay first and last month’s rent — even if someone else who doesn’t have bad credit wouldn’t have to pay such a large amount of money up front.

Having bad credit can limit your opotions and result in you not being able to live where you want. If you can’t afford the larger security deposit, or if you are denied altogether, you might be forced to live somewhere you don’t want to. This can be a disappointing state of affairs — especially if the results mean that you are farther from amenities you are looking for or if your children won’t be in your preferred school district.

Passed Over for a Job

No, an employer isn’t supposed to look at your credit score when making a decision about whether or not to hire you. However, an employer can look at your credit report; at least a version of your credit report is available for employer perusal.

If you have poor credit, and you are applying for a job where you might have access to proprietary information or if you are going to be working in security, an employer might worry that you are vulnerable to bribery or other issues. While you will have to give your permission for a potential employer to check your credit, withholding that permission might indicate that you do have something to hide.

With more and more employers using credit checks as part of the overall background check, having poor credit could hurt your long-term career prospects.

Bottom Line

Your credit doesn’t just affect your loan situation. Your personal life can be affected by poor credit, and it can also have far-reaching effects on your finances and life beyond just what happens with your debt. As a result, it’s vital that you work to improve your credit score.

The post Bad Credit Effects Go Beyond Your Finances appeared first on Financial Highway.

       

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Start any small business online, and chances are you’ll be sending someone a PayPal invoice before too long. The popular banking site has been commonplace for years, and is a trusted resource of many when it comes to the transfer of funds. Many small business owners have a bit of a love-hate relationship with the PayPal invoice system, due the number of perks and quirks built into the system. Perks and quirks that are detailed in this very article. (See also: 21 Cheap Business Ideas)

PERKS                                                                               

There’s a reason PayPal has become a global banking option, and it’s because the system does a number of things quite well. Here are a few of the perks that come along with sending a PayPal invoice instead of a traditional one.

Acceptance

Because the company has been around for so long, most businesses are open to not only receiving a PayPal invoice, but also sending money through the same system in order to pay bills. The chances of running across a company that refuses to deal with a PayPal invoice at all are extremely low, making it a valid choice for including on your list of accounts receivable resources if not for use as your primary resource. (See also: Inexpensive Solutions for Small Businesses)

Speed

If you send a PayPal invoice to a client or customer who pays quickly, you’ll notice that the money appears in your online account within a seriously speedy timeframe. For those who use PayPal funds to pay online bills or utilize their prepaid card system, this certainly adds to the appeal.

Support

If you don’t like having to generate an entirely new document, the built-in ability to follow up a basic PayPal invoice with a payment reminder generated at the click of a button can feel like a gift of time and stress reduction. Also, for those coordinating payments for others as part of their core business model, the historical reports can streamline the preparation of expense reports. Options are also built into the PayPal system which allow cyclical payments for things like access to a private storage system for work documents and other professional resources, providing a resource for those interested in building passive income.

QUIRKS

Developing a PayPal invoice as your preferred billing option might be a popular choice, but it doesn’t come without a few quirks. The following ones make my short list of annoying things to deal with.

Fees

When it comes to using the service for business purposes, the fees associated with accepting money via a PayPal invoice are bordering on outrageous. A number of my colleagues use Popmoney (formerly Zashpay) to collect revenue from clients, due to the fact that fees are charged to the sender unless you request the money yourself through the system. If that’s the case, then you will be charged a fee as well. At ninety-five cents it’s still less than you’d pay for a mid-sized PayPal invoice, although slightly more than double than they used to charge as Zashpay. Of course you can always use XS Invoicing or some of the other free software programs for small business owners to request funds from those customers who are open to a direct deposit situation.

Limits

With a monthly limit imposed as to how much you can transfer into your business bank account, send one PayPal invoice too many and you’ll find yourself needing to use alternative methods to access those funds. Their preferred method is of course a reloadable feature that works like a credit card at local stores. You simply reload it with funds from your account.

To me, this is far too limiting as it requires me to worry about another account entirely and I find it more convenient to pay bills from out house and business checking accounts exclusively, in addition to using our regular credit cards as appropriate. It also prevents me from channeling funds the way I want to towards savings accounts. All that being said, if your business is small the limit may not feel like an issue to you at all. (See also: Budget Business Strategies for Entrepreneurs)

Time

It’s true that payments for a PayPal invoice register almost immediately in the system. But since you have to transfer the funds from there to your actual bank account which takes several days, it can be a drag to wait for monies that could have been available immediately to you if the person you were dealing with used direct deposit. Don’t get me wrong, it’s pretty common for clients who operate small businesses themselves to request a PayPal invoice and I’m not saying you shouldn’t participate especially if it will cost you some repeat business. What I am saying is you need to be aware of the quirks and make alternative choices when you can with long-term clients or those who are open to other payment methods you might suggest. (See also: 5 Tools for Handling Your Receipt Trail from the Road)

Bottom line? While sending the occasional PayPal invoice is to be an expected part of any small business routine, you may find that you need to incorporate other ways to accept monies from your accounts receivable inventory. (See also: The Perks and Quirks of Operating a Home Business.)

The post The Perks and Quirks of Sending a PayPal Invoice appeared first on Financial Highway.

       

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• tore should read “to” oops! by Canadian Budget Binder
• I don't know much about paypal when it comes to using it for ... by Canadian Budget Binder
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Do you need to make a career change? Sometimes it can be hard to really see that it’s time to look for a new job because you might be complacent in your current position. On top of that, inertia ensures that it’s easier to just keep with the same old routine, rather than break away and begin the job search.

However, there are some signs that it really is time for you to consider changing things up a bit in your career, and look for a new job:

1. Your Job Feels Like…A Job

What are the words you use to describe your job? Do you just talk about your job, rather than referring to your career, or to your life’s work? In most cases, a job is something that you have to do. It’s not something that you particularly enjoy, nor is it something that allows you to feel as though you are making a difference.

A career, or work, is different. Your career is something that defines you, and that you are glad is a part of you. If you have work, you feel as though you are doing something worthwhile and productive. A job offers none of these things. If your position feels like nothing more than a job, it might be time to move — especially if you are looking for a challenge.

2. No Hope of Advancement

One of the hallmarks of being stuck in a job is the fact that there is very little room for advancement. This might be because there just aren’t the openings available for you, or because there isn’t a lot of upward movement in the company. It could also be due to the fact that you don’t have an “in” with the boss. Sometimes, it really is about who you know. If you feel as though you don’t have a chance  to improve your situation, and you want that chance, move on.

3. Problems with Management

Are you concerned about the company’s future? If you think that the company is mismanaged, whether it’s mediocre middle managers or incompetent folks at the top, that usually means that things are likely to go bad at some point. If there isn’t a good corporate culture at the company, consider moving on. Not only can issues with management cause you more stress in your own work, it can also be a sign that things are on the verge of falling apart. You don’t want to be stuck when that happens.

4. It’s Interfering Too Much with Your “Real” Life

Take a look at your life, and how your job fits in. While you can enjoy a good career, and a good family life and healthy relationships, you can’t let your job interfere too much with your actual life. If your job is increasingly demanding, requiring long hours, it might be time to move on.

Additionally, consider how much stress your job is adding to your life. If you are constantly on edge with your loved ones, and if regularly complain about work and the way it intrudes on your life, then it might be time to look for a job that fits your need for work/life balance a little bit better. Don’t be afraid to put your relationships and your life ahead of working endlessly for your boss.

5. Unfair Compensation

Do you find yourself unhappy about your compensation? While it’s good to remember that compensation is about more than just money, you also need to feel as though you are being fairly paid. Look at your entire package. Do the benefits you receive make up for a lower salary? If so, and if you enjoy your work, there’s no reason to leave.

However, if you think that you could better utilize your skills and receive better payment for them elsewhere, consider moving on. Compare you compensation to similar positions in your area and industry. Sites like Salary.com and Payscale.com can help you identify comparable salaries.

Take a look at your job situation. If you realize that it’s just not working out for you, it’s important to spruce up your resume, reach out to your network, and begin the job search.

The post 5 Signs It’s Time to Look for a New Job appeared first on Financial Highway.

       

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