Most people can appreciate the importance of having a good financial plan to build a healthy nest egg for retirement.

It’s taking action towards making it a reality which is all too often the difficult part. Implementing a savings plan when you trying to make ends meet with mortgage payments, children’s expenses, household bills and the many other things that have a stake in your money is difficult if not impossible. So most people decide that they will get around to it someday, the only problem is the someday never comes.

If you are sick of flushing your hard earned money down the drain, if you’ve tried unsuccessful to go frugal with a tight budget that was always doomed to fail or you’re finally ready to start thinking about your financial future then getting started is a lot less painful then you might think. Everyday we are doing countless idiotic things that create a gaping leak in our bank accounts.

To patch the ***** in your financial health and get it to a healthy state here are some areas that need to be addressed as to whether they belong or you can do without.

1. Cancel your cable TV service.

One of the great promises of Cable TV when it was first introduced was that you could watch what you wanted, when you wanted and without the annoying ads. This is off course not true, when you want to watch a certain movie or show, chances are it’s not showing at that time and you find that most of what is showing is really not all that interesting anyway. After a long day at work there are better things to be doing than watching mindless TV.

Total Saving: $50 per month or $600 per year.

2. Take your lunch to work.

It’s tempting to just go out to lunch with your work colleagues or rush through lunch time crowds to grab something on the run but how much easier would it be if you just took your lunch to work. Not only will you be saving money but chances are its more nutritious for you as well. If you’re spending $20 per day on lunch you could be saving $100 per week.

Total Saving: $400 per month or $4800 per year.

3. Get rid of your gym membership.

If you have a gym membership and you aren’t utilising it then you need to seriously think about why you have it in the first place. If you are serious about losing weight or keeping fit why not consider alternatives to the gym, like jogging before work.

Total Saving: $100 per month or $1200 per year.

4. Buying bottled water.

It’s understandable if you are living in a third world country but when you have perfectly safe drinking water it doesn’t make any sense to buy bottled water. Not only are you contributing to the mountains of waste that results from throwing away the plastic bottles, but you are also paying for something that you could get for next to nothing. If you’re buying a bottle of water per day at $2 per bottle then this really starts to add up.

Total Saving: $60 per month or $720 per year.

5. Kick the nicotine addiction.

Yes, you’ve heard all the health warnings connected to the addiction but if you haven’t quit yet then obviously this isn’t a good enough reason. How about the hole it burns in your hip pocket. If you are currently smoking a packet a day then it is costing you about $5 per day.

Total Saving: $150 per month or $1800 per year

If you were to implement all the above ideas you would be saving $760 per month or $9120 per year (These figures are for illustration purposes only and are not indicative of what your actual savings will be, please take the time to determine your own figures and your own circumstance). Even if you were to only implement some of the ideas you will be making a significant contribution to your overall financial health.

At the end of the day remember life is meant to be enjoyed. If some of these suggestions seem to be too much of a sacrifice today for you then think about what areas in your life can be trimmed.

Traveling can be a lot of fun as individuals or as a family. With the rising costs of gas prices, many of us stay close to home rather than traveling long distances to vacation hot spots.

I have been the marketing manager for a resort property for over 11 years. My primary responsibility is to market this establishment to attract new guests to stay with us as well as to entice repeat guests to join us again for another great getaway.

Many of us would love to enjoy a vacation but simply are not able to afford the cost for a room. I have listed a few ways to cut the costs and enjoy a much needed getaway for a fraction of the cost.

Coupons – Many motels participate in programs where you can receive two nights for the price of one night. Ask about these discounts when making your reservation. Check the motel’s website prior to calling to see if there are any specials listed online that must be mentioned prior to receiving the discount.

Corporate Rate – You can often receive an additional 10% off just for presenting your business card at a motel. Of course this depends on whether or not you are arriving during their peak season, but it certainly is worth asking about.

Military Discount – Some establishments will give a considerable price break for those serving in the military. You will need to present proper identification upon check-in so be prepared to do so.

AARP – Are you a senior citizen and a member of AARP? You are eligible for an additional 10% off your room rate at all participating motels.

Group Rates – Motels love groups and it is important to ask if there are any group rates available during the time you intend to arrive. If you are arriving during a time when the establishment does not intend to have occupancy, they may graciously extend a discount for your group. Certain requirements will apply and will vary.

Travel Midweek – It’s typical for motels to be very busy on the weekends and slower during the middle of the week. Try to travel Sunday – Thursday to receive the best deals. The rates are usually lower during the middle of the week. Combine this with a coupon or other discount and you are well on your way to savings.

Off-Season Specials – Check the local newspapers and travel websites for any specials the motel may be offering. Depending upon the location of the motel, you can get a great discount! For instance, take in a winter storm at the beach and you are certain to get a spectacular deal!

Mailing List – If you enjoyed your stay, ask the front desk if they have a mailing list. Perhaps they can mail you unadvertised specials or keep you posted of any savings coupons they may be offering.

Traveling doesn’t always have to break our pocketbook. If you take a moment to do your research prior to making your reservation, you will be well on your way to saving yourself some money.

Unfortunately, we all can’t travel like the rich and famous. Then again, there’s nothing unfortunate about it! Budget holidays can be fun, exciting and relaxing. Whatever your budget, the follwing tips should allow you to stretch that budget & get the most out of it, while still having a great time!

The most important piece of advice I can give you if you want to save money is ‘Plan Ahead’! With a little planning, you can save a huge amount of money, allowing you to either re-invest that money into your holiday, or simply save it for another time.

If you have a particular destination in mind, it pays to book early. Also, research the local attractions and facilities. Look out for any special discounts that may be available. A little time can go a long way. It can also be cost-effective to plan your holiday at an off-peak time. Generally, plane fares, hotels, car rentals and many other things are cheaper during off-peak periods & you are more likely to find great deals.

It may be worthwhile planning your vacation in a place where you have friends or family. If you could stay with them, that can be a huge money saver – and you also get a free tour guide! Of course, you should still offer to pay towards any expenses, but your trip should still be much cheaper this way.

One of the big expenses when on holiday is food. Eating out at restaurants can cost a fortune, so you can save some money by packing food for your trip. Taking food to the beach, instead of forking out for lunch at a burger bar can be a real money saver when multiplied by 14 days. Another great tip is to avoid the restaurants that cater only to tourists. The prices will always be inflated in these areas. If you can ask around & find our where the locals eat, you will likely find that the food is cheaper and better. It may not be as near as the tourist places on your doorstep, but the small journey can be well worth it.

If you are planning on staying in a hotel, you will likely find that the closer you are to a major attraction/city centre, the more expensive they get. It may be worthwhile trying to find somewhere with a good balance between the distance & price. Also, don’t just book your hotel based on the rating. It may be that the 4 star you are looking at has facilities that you just wont use. The 3 star on the other page might have everything you need – including a cheaper price!

Before you go, get familiar with the local bus/tram routes. You will save a lot of money on taxi fares.

Be sure to plan plenty of activites that don’t cost a lot of money. Walking around the local scenery, trips to the beach & swimming are all things that are lots of fun & don’t cost much, if anything at all.

Most important of all, have a good time!

I am a senior citizen who is in debt and have no way to pay off what I owe. I have heard if in debt to someone they can come in and take my house and car to pay off the debt. I’m on a fixed income of $700 per month. By the time I finish paying my monthly bills, buy medicine and food there is nothing left. Please tell me what to do. Should I file for bankruptcy..and if so, how much does that cost? I am under so much stress worring about this that I have been very ill.

MORE TIPS AND THINGS . . . . . .

Are we left with an expanded waistline and a diminished bank balance. (Wouldn’t it be great if, just for once, the situation was reversed and we could greet the New Year with a diminished waistline and an expanded bank balance?).

However, before we get down to juggling figures in an attempt to improve the financial situation, why not try the following simple maths test?

IMPORTANT: THIS MUST BE DONE IN YOUR HEAD ONLY. DO NOT USE PAPER, PENCIL OR A CALCULATOR.

READY? Try it ……..

Take 1000 and add 40 to it. Now add another 1000. Now add 30. Add another 1000. Now add 20. Now add another 1000. Now add 10. What is the total?

Simple isn’t it?

Did you get 5000? Sorry, WRONG.

Quickly try again. Still 5000?

Oh dear! You do need financial help. (Use your calculator for the correct answer – and for those without a calculator, the answer is at the end of this article)

Don’t worry, it’s only fun! Nothing to do with age – most adults get it wrong – particularly the ‘Smart-Alecs’.

This was sent to me by a clever friend. I don’t need to mention names, as she knows who she is. I will pass on a couple more of her ‘Dementia Tests’ (as she calls them) in future articles. (Needless, to say, I got 5000 as well).

£££££££££££££

Now to get back to the serious business of saving money, here are a few ideas.

1.Do you feel that you deserve a reward after all the hard work over the Festive Season? Why not take advantage of the National Express current offer. THE OVER 60’s CAN GO ANYWHERE FOR £4.50 OR £9 RETURN IF YOU TRAVEL BEFORE 31 MARCH. JUST BOOK 3 DAYS IN ADVANCE. Last year, when I took advantage of a similar offer, I met a lady who had made the most of it and had travelled from the South of England to Scotland in order to visit a friend and was in the process of doing likewise in the West Country. So why not choose a place or person you fancy visiting and then sit back and enjoy the scenery? Visit www.nationalexpress.com for route and times.

2.If you feel that you deserve a hair-do, massage, manicure, foot massage, etc., have you thought of trying your local college? The student may take a little longer to complete the procedure, but it will cost a fraction of the ‘high street’ charge. Also, it is worth bearing in mind that in a few months’ time that same student will be joining the professional market and charging a ‘high street’ price.

3.When you feel in need of a new outfit, before you visit the usual fashion chain stores, why not peruse the charity shops en route? You’ll possibly pick up something that is unique to you for the price equal to that of a coffee and sandwich. Also many Charity Shops now have a ‘designer rail’ where well-made outfits can be purchased at a fraction of the original price.

This time of the year is a particularly good time to visit Charity Shops, as often the unwanted gifts make an appearance.

4.Have you visited your local Library lately?

If not, you’ll be surprised how they have changed. Libraries are not just about books. They provide DVDs, videos, CDs, language tapes, etc. So instead of buying DVDs and CDs why not borrow them from the Library? Also why not borrow an audio book or foreign language course and enjoy and learn whilst carrying out mundane household tasks. By the way, the internet service is free at Libraries.

5.I have just taken out RAC Membership for a year and it has not cost me a penny, and last year I purchased an item of furniture from MFI and that also didn’t cost me a penny. How, you may ask??? ….

Easy, just exchange the money vouchers issued by Tesco in respect of their Club Card points. www.tesco.com/clubcard As mentioned in a previous article – use their Visa card instead of cheques or cash (for any purchases anywhere, not just at Tesco’s) and it’s amazing how quickly the points accrue. HOWEVER, I MUST EMPHASISE, ONCE AGAIN, THAT IT IS IMPORTANT THAT THE COMPLETE VISA BALANCE IS CLEARED EACH MONTH, AND TO THIS END IT IS ADVISABLE TO SET UP THE DIRECT DEBIT METHOD WITH YOUR BANK YOU WILL CERTAINLY NOT SAVE MONEY IF YOU PAY ONLY THE MINIMUM BALANCE REQUESTED ON YOUR MONTHLY STATEMENT. THAT IS THE WAY THAT THE YOUNG GET INTO DEBT, AND WE KNOW BETTER DON’T WE? When we use a Visa card we must remember to use it for things we would NORMALLY BUY and treat it as though we were using cash.

And talking of Tesco’s or any other major supermarket for that matter . . .

6.Have you thought about ordering your groceries on the internet and enjoying the luxury of having them delivered to your door at a time convenient to you?

If there is a charge for delivery, it will probably be outweighed by the amount of money we have saved through not ‘impulse buying’. Isn’t it amazing how we go into the supermarket in order to get a few essentials and stagger out with a trolley overflowing with bargains?? It is worth remembering when we are strolling around the supermarket that every aisle and every item has been strategically placed to increase sales.

7.Do you enjoy reading monthly magazines but think of them as an expensive indulgence? (Or perhaps the only chance you get of perusing the ‘glossies’ is in the doctor’s waiting room, where your eye invariably zooms in on a tempting advert only to discover that the offer closed a couple of years previously).

Well, one of the most unusual and welcomed gifts I received was a year’s subscription to a favourite magazine – so much better than say a box of chocolates, which in this household disappears in a flash – and where I must admit I am the main culprit. Every month throughout the year that good feeling is regenerated as your favourite magazine plops through the letterbox. You feel like a kid with a favourite box of candy as you feverishly rip of the wrapping and devour the contents. I pass on my magazine to a friend and she and her friends do likewise. In that way we all get to enjoy about six magazines. So why not do the same?

In fact, why not take time to also enjoy the monthly newsletter from www.Mabels.com Just click to join the mailing list.

8.Are you still waiting for the lottery to come your way? Well, thinking of the ‘odds’ and not wanting to be too pessimistic, you’ll probably have to wait for a long time! (Still, someone, somewhere, is going to be struck by lightening and someone is going to hit the jackpot – that’s life, or otherwise – fortunately or unfortunately?) Recently, I had the pleasure of sitting next to a multi-millionaire. (The pleasure was in hoping that some of the wealth would rub off on me). During conversation, someone mentioned the lottery. My wealthy acquaintance also thought that the chance of winning was so remote that he chose to invest instead in premium bonds. Not only was there a better chance of winning, but because he had invested the maximum amount possible, his annual interest worked out at between 4%-5% TAX FREE and, of course, his original investment was intact. Now, not many of us can afford to invest the maximum amount allowed, but many of us, like myself, have had premium bonds since they were introduced in the l950’s and not won a thing. In other words, along with many others, my interest had been NIL. In fact, taking into account the original investment plus inflation, the result was NIL, NIL. However, on someone’s suggestion that the computer seemed to favour recent numbers (which cannot be explained logically as it is a random selection), I withdrew all the bonds and re-invested them, and Hey, Presto! I won £50! Unfortunately, I have not won since that great day, so I think the interest gained is still NIL, NIL However, if you have premium bonds it might be worth considering withdrawing and re-investing, bearing in mind that you will miss out on draws until the process of reinvesting is completed. If you have never subscribed to premium bonds, why not give it a go? I suggest that for every pound you contribute to the lottery, you contribute a similar amount to premium bonds. If you now buy lottery tickets twice a week, at the end of the year you will have £100 for premium bonds. You will not only have 100 chances of winning but you have still retained the £100 - – GOOD LUCK!

By the way, the answer to the maths test is 4100. If you got this answer and you did it in you head WELL DONE!

. . . MORE TIPS AND TESTS COMING UP IN THE NEXT

“JO’S JOTTINGS” . . . . .

Do you want to plan a party, but are worried that it will cost too much? You can still have a great celebration without breaking your budget.  Here are 18 top tips to help you save money.

1. Borrow music CDs from your library.  Maybe you need dance music to liven up the crowd. You might want easy listening melodies as a background for conversation or Hawaiian songs for a luau theme party. Your public library should have it available and ready to lend to you.

2. Decorate with balloons.  Balloons are festive and cheap, especially if you fill them with air, instead of helium.  Search online and you will find instructions for making impressive balloon arches, garlands, columns and more.

3. Rent a helium tank.  If you prefer helium filled balloons and you need lots of them, it’s cheaper to rent a tank and fill the balloons yourself.  However, if you’re only buying a few, you can save money by purchasing them already filled at the dollar store.

4. Light lots of candles around the party for instant, inexpensive atmosphere.

5. Keep your little, white Christmas lights handy.  String them around the buffet table, doorway, centerpieces, potted plants, just about anywhere to create an elegant look to any party, without spending a lot of cash.

6. Buy a reusable ice sculpture mold.  These can cost under $20, are easy to fill, fit in your freezer, and can be used over and over again.  Find them online for a low cost, yet fancy touch to your celebration.

7. Forget flower centerpieces. Yes, they’re pretty, but expensive.  Instead try tealights floating in a large shallow glass bowl filled with water.  Or you could place framed photos of the guest of honor on the table for a nice tribute.  You can even display party favors as the centerpiece.

8. Make your own invitations.  With greeting card software on your computer, your printer and a little creativity, you can save money by doing these yourself.

9. Browse online for cheap invitations. If you’re not the crafty type, you can find great bargains online for invitations.  Do some searching, and you may be surprised at the deep discounts available.

10. Go with photo invitations that feature the guest of honor. These can even cost less than regular paper invitations, if you hunt around the internet for the right company. You can also trim the price by choosing a smaller size, like 4 x 6 or 4 x 8 inches.

11. Invite less, save more. Sure, it’s nice to have a big bash.  But if you’re watching your wallet, nothing cuts expenses faster than shrinking the guest list.  Think quality over quantity.  It’s better to have a smaller party, than no party at all.

12. Cut costs on party favors. You can obviously eliminate them if your budget is extremely tight, but if you decide you want to send your guests home with a little thank you gift, you can make them yourself.  One simple idea is to use occasion appropriate gift wrapping paper to wrap Hershey candy bars as a thoughtful giveaway.

13. Order cheap favors online. If you don’t want to make your own, you don’t have to resort to the dollar store for favors. For around the same price you can find inexpensive personalized items, some even with a photo.  You just have to be willing to do a little searching.

14. Consider having your party from 2 – 5 p.m. on Saturday or Sunday. No one will expect a big meal during those hours, so you can get away with just serving coffee and cake.

15. Invite your guests for just appetizers or dessert.  Your invitation can say something like “please join us for an open house with hors d’oeuvres”.

16. Go with a buffet, if you want to have a full dinner for a lot of people.  Include inexpensive, but crowd pleasing pasta dishes and casseroles.  Find recipes you can make ahead and freeze.

17. Don’t be afraid to ask for help.  Make it a potluck and request that guests bring a dish.  If you can, borrow rather than rent chairs, chafing dishes, outside tents, etc.  Enlist a friend to help you serve.

18. Be kind to the environment and your budget by using real plates, glasses and silverware. Of course, disposable paper plates, cups and plastic forks make clean-up easier, but they add to your expense. Use what you have, wash the dishes and save money.

Yes, you can have a great party without spending a lot of money. With a little creativity, time and effort you can cut expenses. But that’s not all. You can leave your guests with the impression you actually splurged.