We all crave more time.  It seems that a day is just never long enough to get everything done.  However, we all have the same amount of time.  Why is it that others have more free time to spend on themselves and the people that they love, while we are still trying to find the time to finish the things we feel like we need to do?

It’s time to reclaim your life, and to make time for the things you want to do and not just that you need to do.  But how can you manage all that?  Here are some ideas:

1. Find your essentials. Your essentials will be things that you love to want to do.  You will want to make a list of these, but keep it short and simple.
2. Find your time-wasters. Are there things that you do that tend to take up a lot of time.  For instance, watching tv.  It’s just one show, but before you know it, an hour or two has gone by, and you could have got so much more done.  Figure out what it is that takes up time that isn’t necessary.  We’re sure you will realize how much of your day that will free.
3. Learn to say no. If you say “yes” to every thing, you will never have any free time. Figure out what is most important, and let the rest go.
4. Cut out distractions. When you are working on something important, remember to cut out the distractions.  That will help you stay focused and complete the task-at-hand.  Then you will have more free time later.

There are many other ways to help you find more free time.  Check out Zen Habit’s 20 Ways to Find More Free Time.

Now hopefully you will feel that was time well spent.

You can’t put a price on a decent night’s sleep. Here’s how to catch some zzz-s so you get back to managing your money and your life!

I have had my share of bad luck with cell phones (as I’m sure many people have). Dropping them, leaving it on the back of my car in the rain, having it ring while it was on silent, batteries dying, you name it. Everytime something happened, my cell phone company told me that there was nothing they could do because I didn’t have insurance with them. I ended up paying a lot of money to replace phones every time.

Now that I do have insurance, I pay $5 a month just to have the insurance. So far nothing has happened to my phone (fingers crossed), besides the fact that the battery died and I have had it for less than a year.

However, batteries are not covered under insurance because the cell phone companies know that this is probably the most likely to go. More than likely you are going to have to replace your battery before your 2 year plan has expired. The catch?…batteries are only covered under warranty for a year and then they are not covered even if you have insurance. A new battery can be anywhere from $30 or more depending on your phone.

If your cell phone breaks and you DO happen to have insurance, there is usually an additional deductible that you must pay. Not only that, but if your cell phone needs to be replaced often times you get one which is not as high-tech and not brand new but instead re-furbished. So basically although you pay for the insurance each month, you may not get top quality…so, what is the point?

Unless you have an extremely expensive or high-tech phone (a Blackberry or iPhone for example) it may be a waste of money to even be paying for the insurance. Over your 2 year plan, you are paying an additional $120! That is a lot of money that could have gone towards something else.

It is a personal choice whether or not you take out insurance on your phone. Usually the cell phone provider will give you up to 14 days after taking out a plan to decide if you want it.

My suggestion is that during these 14 days you take the insurance coverage contract home with you and read through it 100%. Weigh the pros and cons of the plan to see if it is right for you. Although this seems tedious, it will give you a sense as to what is covered or not and what additional fees you may incur.

Obviously I am one of those individuals who is willing to pay $5 a month because I am too scared what might happen without the coverage. But like I said, it is a personal decision and many people decide to take a risk and not purchase insurance which can be very cost-saving in the long-run.

Related Articles:

Deal With Broken Phones the ‘Green’ Way
T-Mobile Plan Gives Parents More Control
Useful Uses – Getting the Most Out of Geezeo

A few months ago I got my expensive bike out of storage. I planned to use it every day to make up for all the times I hadn’t used it.

Well: I haven’t used it every day. But, I’m using it more for short errands. Biking has me thinking about the positive financial consequences of owning (and using!) a bike.

Savings: Commuting costs

If you can bike to work you save three ways. First, obviously, you use less gasoline. You also save on automobile wear-and-tear — delaying costs associated with car repair. And, you save on parking.

Sadly, it’s not practical for a lot of people to commute by bike thanks to an incomplete biking infrastructure. But, some brave it anyway. You should invest in additional safety gear (helmet, lights, reflective strips, locks). But this is a small outlay when compared to car costs over a year. According to this article:

“Car ownership is about 17 to 20 percent of a family’s income,” Glen Harrison of the Washington Area Bicyclist Association explained.

Savings: Health club

Okay: I have a grand vision of getting fit enough to bike to the health club, and then work out. The distance is a hilly 2.5 miles each way. Verdict? I won’t need to actually JOIN the gym until I’m fit enough to actually get there!! According to the same article:

Experts say the health benefits of biking out-weigh the risks 20-to-one. And what you’d profit from a daily bike ride is equal to what you’d lose smoking an entire pack of cigarettes.

If you can turn your kids into lifelong bikers, studies show it’ll improve their mental agility and they’ll do better in school.

It’ll also help them ward off heart disease, obesity and some forms of cancer, as well as improve their immune system.

Savings: the Environment

Obama threw down the gauntlet last night: we each have to do our part!

Regardless of who ascends the presidency, we’re slowly beginning to see there are real financial costs associated with repair and clean-up of our environmental messes. We pay indirectly through taxes, health care, and quality-of-life. Biking is just one way to keep pollutants out of environment while benefiting us directly at the same time.

Can biking save your wallet, your health and your world? Sure looks like it! Tell us your experiences biking, and share any hints on making your community more bike-friendly.

Related:

How to Walk More, Drive Less in Your ‘Hood
How to Make Your Travel ‘Greener’
How To Stay Fit on a Budget
Obama’s Acceptance and Other Famous American Speeches

For young generations today, the pressure to spend is greater than ever. Not only spending on clothes and electronics, but also spending on eating out and drinks with your friends.

But the pressure to save is also there. All people hear on the news is about saving and how difficult it will be to retire if you don’t start young.

Young generations are feeling the pressure to save early while still trying to enjoy their lives and not always stress about money. Personally, I graduated college this year with NO credit card debt, something I am extremely proud of. But for many of my peers, this just isn’t the case.

I understand that starting to save for retirement ASAP is crucial; I just wish it was a little bit easier and less stressful. Here I’m sure my mum would say – “Hannah, life isn’t easy!” But honestly, with student loans, bills, rent, food, gas, and other expenses…what is there actually left to save?

The key aspect is to find a balance between saving and spending. Something that isn’t always easy to do (and often times it feels impossible). And yes, sometimes this means that you have to say “no” to going out for a night on the town or to concert.

Putting money into a 401(k) account as soon as you start a salaried job is a great idea (and a good starting point for your retirement savings). It doesn’t matter how little you put towards it at first, at least this is moving you forward. Often times employers may even match your savings up to a certain amount. However, once this money is in your 401(k), just forget about it and put it out of your mind. That way you aren’t tempted to borrow the money from this account.

MainStreet.com explains that there are things we can all try to avoid when we are trying to continue to save even when the economy is in a downturn.

Here are their top 5 things NOT to do:
1. Don’t borrow from your 401(k) unless you absolutely need the money.
2. Don’t ignore: (a) car or mortgage payments, (b) student loans, (c) credit card bills, or (d) all of the above.
3. Want to eat out or play a few rounds of golf? Okay, just don’t put it on your credit card.
4. Don’t make pricy purchases, even if there is a sale or your fancy new toy might be a cost-saver.
5. Don’t quit your job unless you have another job lined up.

For the full article (and their explanations), click here!

Believe me; I understand what it is like to be stressed about saving. Being in the young generation just out of college when the job market and economy aren’t doing so well is not the greatest, but we just have to push through it.

My advice is to take it day by day. You can think about retirement saving before you even have a job. Just make sure when you get that job that you are saving as soon as is possible for you. Don’t worry too much! It definitely won’t help the situation. Somehow we will all get through this together and retire happily ever after!

Related Articles:
5 Ways to Dig Yourself Out of Credit Card Debt
I’m 22 and Ready to Invest – Now What?
Emotional Toll of Retirement

Here’s a great documentary about the credit industry. Even better: it’s free to watch or listen (90 minutes long, plus commercials).

The film covers a lot of ground and proves that credit and debt are economic justice issues that affect us all. Plus, it investigates groups like military servicemen and women who are targeted outright. Shameful!

One of the most common financial goals is “I want to pay off my debt.” If you carry debt this is, and should be, your most important financial focus. What exactly does that mean, and how can you do it? The answer is easy – but dedication is the challenge.

Step One: Stop Using the Cards.

Plain and simple.  Credit cards should be for emergencies ONLY.  If you want to be successful in paying off your debt, you need to stop adding to it each month.  If you have recurring charges on your credit cards, move those to your debit card.

Step Two:  Understand ALL of your debt.

It’s not just credit cards.  Many people make the mistake of listing out only their credit card debt, and ignoring things like car loans and student loans.   You need to pull out all of your debt and list the following information for each: total amount owed, interest rate, minimum payment, usual payment (assuming you pay more than the minimum on at least some of the total debt.)

Step Three: Make a Plan
List your debt from highest interest rate to lowest.  Add up the payments you are making on everything each month. Now look at your total payments: pay the minimum on everything but the debt with the highest interest rate – apply the balance of payment to the highest interest debt.

For example:
Credit Card:
Owe $17,643, Interest is 11.95%, Minimum Payment $380, Typical Payment $750

Car Loan:
Owe $12,545, Interest is 7.89%, Minimum Payment is $303.36, Typical Payment is $400

Student Loan:
Owe $63,135, Interest is 2.99%, Payment is $329.83, Typical Payment $350

This borrower is paying $1,500 every month for debt repayments.  To apply the principle explained above the new payments would be:

Credit Card
Payment: $866.81, Car Payment: $303.36, Student Loan Payment: $329.83.
At this rate, the credit card will be paid off five months faster!

Once the card is paid off, the new repayment scheme turns into:

Car Payment:$1,170.17 ($866.81+$303.36),
Student Loan Payment: $329.83.

This is where the magic happens: now the car will be paid off in only 6 months, instead of the 2 years that would have been left on the loan. After the car is paid off the student loan payment turns into $1500.  This pays the student loan off in another 3 years.  It basically turns a 20-year student loan into a 6 year loan.

And the example above could save well over $10,000 in interest payments alone.

Step Four: Stick to It!

The hardest part of the process is to stick with the plan.  The example here is a 6-year debt payoff plan.  It’s easy to fall off course in 6 years, but far better to be done with the debt in 6 years than the original 20 years it would have taken.

Of course, you can always make MORE payments and extinguish the debt even quicker.  If you make extra payments, always put it towards the highest interest rate debt first.

Step Five:  Understand the Payoff.

What you need to remember is the amount you are paying for monthly debt repayments.  If you are currently paying $1,500 in debt payments each month, when everything is paid off you will have $1,500 every month to spend on yourself!  Imagine $1,500 every month to go towards your goals.  If you want to buy a house and need $20,000 for a down payment, you can have that saved up in about a year!

Keeping your eye on the prize is the way to stay on track when paying off debt.  And the prize is what you can pay yourself when the debt is eliminated.

“Some may think that we have an easy life having a steady and dependable lifestyle but we pay for it. It hurts like you would not believe to lose one of our guys and when one goes down, we all feel it.”

You think managing your money is difficult? Try doing it from a war zone. Or, taking control of the family finances when your spouse is serving the country.

Back in March I had the pleasure of speaking with Taurean Washington, a Geezeo member and military officer. I thought it would be good to check in with his wife, JoAngela. Spouses like JoAngela work exceptionally hard and take on an amazing amount of responsibility.

JoAngela, how long have you been a military wife?

A little over 5 years now and I spent the 12 years prior as a Military Brat and Marine Corps Civilian.

Are you also in the military?

No, I never did join.

Do you have a civilian job, or are you a stay-at-home partner?

I have a civilian career with the Defense Department in the Human Resources field.

Do you have any children?

Yes, our daughter Keyara is nearly eight and Cyren, our son, is newly four.

I understand you act as “Family CEO”, particularly when your husband is deployed. What does the “Family CEO” role entail?

Family CEO is much more than just a business or financial role that you assume. As the CEO, you are mommy and daddy, healer and disciplinarian, chef, chauffeur, and mechanic to name a few. Normally, I can count on Taurean for so many things that I realize how spoiled I am each time he leaves. When he is gone, five minutes of time for myself at any point in the day comes at a high cost.

What are your responsibilities when it comes to the family finances?

My husband & I share the responsibilities; he still continues to fluff up several investment and retirement accounts, maintains insurance and payments on our vehicles, pays the credit card, and ensures financial freedom for retirement while I maintain the households recurring monthly expenses to include child care, gas, groceries, the phones, internet, and three additional retirement accounts. I am also responsible for buying all of the family’s clothes (gosh kids grow fast!). While my husband is away, I am the only one left to get suckered into a pizza night or take-out food.

Did you have the skills to do everything that is necessary to run your family’s finances, or did you have to research and get outside help?

I have the skills now, besides common knowledge, my husband schooled me on most everything we utilize. It also did not hurt to have him pay off a college girl’s credit cards within two months of our getting married!

Where do you research, or whom do you trust to give you financial advice?

When I want more information than his explanation I will Google it or use Yahoo Finance to get back to the basics. I listen to Suze Orman as well, she has opened our eyes to a lot of things as well as reassured us of decisions we have made. When it comes to selecting stocks, my husband never advises me on a particular vehicle, he says that I have to be able to stomach huge losses on my own so I stick to my gut and I do pretty well.

What’s a common misconception people have about military wives, or their roles?

I cannot say as I really do not listen or care to know how others may perceive military wives. I do not think of myself as a military wife but as a wife whose husband happens to be in the military. We are resilient families arranged in our own subculture of family sets who often do not receive credit for the part we play. Some may think that we have an easy life having a steady and dependable lifestyle but we pay for it. It hurts like you would not believe to lose one of our guys and when one goes down, we all feel it. Our husbands and wives are not out there alone — they take the largest part of us with them.

From a purely economic standpoint, what is your family’s biggest financial goal(s) right now?

Retirement at age 39 (11 years from now)!

Wow, that’s amazing! To do that would take hard work and discipline — two skills you’ve really honed. How can civilians be more supportive of our military families?

Support the good programs passing through The Senate and Congress with our names on it. Keep our fighters happy by sending them packages, school and medical supplies (for the locals wherever they may be), and letters. These things make it a little easier on them which somehow trickles down to smiles on my kids faces. Honor us for what we sacrifice, too.

##

Thanks, JoAngela. I think too many people ignore the everyday efforts of military spouses, their service to their countries, and service to their families. Thank you for taking the time to speak with Geezeo.

To reach out to JoAngela or Taurean, contact them in their Geezeo group, “Combat Investors”.

Related:

Money and Military Life in a Time of War (interview with Taurean Washington)
Politics, Money, and Votes
Get Life Insurance

Online Salary Tools
By Sean Leviashvili | MainStreet.com

Ever wonder how your salary holds up next to other employees in the same or even a different field? MainStreet compiled a few sites that can help you assess, analyze and even compare your paycheck to others.

Forbes

It may motivate you, or it may just leave you in awe, but it’s worth checking out. See who the top earners in Hollywood are and just how much they have in their (many) accounts. Forbes’ Celebrity 100 includes the total earnings for celebs like Steven Spielberg and 50 Cent, as well as authors Dan Brown and J.K. Rowling just to name a few.

Cost-of-Living-Wizard

This online gadget assesses how much your base salary can potentially cover in different areas of the country. Compare cost of living between places like Mobile, Ala., Fort Collins, Colo. and Portland, Ore. and calculate your net change in disposable income.

Salary Timer

Ever wonder how your hourly wages compare to say, Adam Sandler’s? Now you can find out. Input your base salary and bonuses at www.career-wizard.com, and compare it to the bank accounts of big time earners like Elton John, Tiger Woods and of course, Oprah Winfrey. See how long (or how quickly) it takes one of them to earn your salary.

Full-Time Civilian Workers

Take a look at the average earnings for full-time civilian workers such as human resources managers, architects, and civil engineers. The data was collected by Bureau of Labor Statistics (BLS) between December 2006 and January 2008.

Full-Time Private Industry Workers

The BLS also collected data for full-time private industry workers under the same professions. The data covers mean and median hourly, weekly, and annual earnings. Click here to view.

Engineers

Some sites provide information for specific fields, like engineering. This one features salary data, taking details into account like years since obtaining a baccalaureate degree. For example, an engineer earning $60,000 after graduation can potentially make $100,000 10 years later.

Teachers

From Florida to Alaska, www.teach-nology.com, delivers information on average salaries earned by teachers in each state from information gathered from the 2002-2003 school year. Also, check out information obtained this month on www.PayScale.com. According to the data acquired from 34,892 teachers, special education teachers working in secondary schools are the highest earners among k-12 schoolteachers, earning an average of $42,493 a year. Click here for more details.