Weekend Project Mobile Home Renovations that Could Save you Money
By Cassandra_BHM | September 17, 2010
If you’re looking to remodel or upgrade your mobile home this summer, what better time than now. With so many renovation ideas out there, it can be overwhelming to pick which one is best for you. Whether you’re seeking a large project or are looking to add a few simple environmental upgrades, just about anything you do will add improvement and value to your mobile home.
It’s not a secret how much energy is saved with compact fluorescent light bulbs. Changing all your regular light bulbs for these low usage ones will definitely save you money right away. With the average home having approximately 40 light bulbs (including items such as lamps and porch lights), a home can become more economical by about $56 over the life of a single light bulb! Your investment cost, about $1.50 per fluorescent bulb.
If you have been wanting to change a few functions of your mobile home and make your living more green, swapping out your old thermostat for a programmable one should be first on the list of improvements. This is a simple item that will pay for itself many times over. As long as you take a few minutes to program it properly, a programmable thermostat can easily save a few hundred dollars each year on your heating bill. Your investment amount is about $80 for a new thermostat.
Installing a low-flow showerhead is also a green way to go as they are designed to reduce your water consumption by about 40% each time someone has a shower. On average, they will save a household approximately 8,000 gallon of water per year. Not only will it save you money, it also helps conserve the environment by reducing water consumption.
A few renovation projects that are equally as efficient (and important) but will require a little more skill and know-how are things like changing or adding insulation. About 45% of all heat loss is done so through the walls and ceiling of a home, and that includes the reversed ineffectiveness of summer cooling. If you’re up for a day project, take a trip to your local hardware store to fill in the spaces in your attic. Don’t forget to keep your receipts for the 30% federal tax credit at the end of the year.
Installing a low-flow toilet should be on the must-do list if you’ve not already done it. Toilets are one of the largest consumers of water a home has, averaging 5 gallons per flush while a low-flow uses only 1.6 gallons per flush. For about $360, it’s well worth the money.
There are many small renovations that can be done to your mobile home to make it more efficient. Spending a little money now could save you a bundle in the long run.
Posted in Reducing Debt, Uncategorized
|
Print This Post
|
0 Comments
Tips for Students Saving for School
By Cassandra_BHM | September 15, 2010
I would be lying if I said that my university years meant nothing to me. As difficult as they were, those years were a wonderful and very enlightening part of my life. Being a typical student, I spent five years in school, mostly on the government’s dime, and then another six years paying the loan back. It was the first five years I mentioned that I found to be the most inspiring.
When I went to university, it was an unplanned, last minute thought. I was in my mid-twenties and desperately needed something to do. I was probably the most unprepared student there ever was, hence the student loan. After I repaid the loan, I did the math one day to find out what my education really cost. For me, it was get a government loan or don’t go to school, so I chose the loan, and honestly, thank goodness it was an option.
However, if you’re able to think a little further ahead than I did, I would advise a few things, and one of them would be to save now as much as you can for your own education. I agree it’s not convenient and I understand those new jeans with that bling cell phone is a ‘must have’ combination, but trust me on the post-secondary saving. If you must, lock yourself up with a forced savings account from your bank, that way the money is automatically withdrawn each month, and for the most part, you won’t even notice it’s missing.
The Canadian government has also developed many programs over the past decade as they too, see the struggle most students have in trying to go to school. One of these programs is the Registered Educational Savings Plan which, Canadian statistics showed, totalled an enormous $22.6 billion in assets at the end of 2008. People are finally starting to see the big picture. That’s a lot of saved-for tuition.
With so much money being invested in educational savings, there are many financial vultures hovering over these potential students, or at least, their money. So competition for business has gotten pretty competitive. The Investor Education Fund is a non-profit Ontario agency belonging to the Ontario Securities Commission. It has launched a website aimed specifically at students and their parents to provide unbiased advice on how to manage education costs. The website can be found at GetSmarterAboutMoney.ca.
Tom Hazma, president of the Investor Education Fund said in a statement, “The average Canadian needs information that isn’t coming from a salesperson. There is always two sides to every story, and it’s important that they have access to unbiased information when they’re making investment and financial decisions.”
Recent calculations have found the average student who completes a four-year program on a government loan, combined with their own personal debt, will find themselves $37,000 in the hole upon graduation. In 1993, this amount was $10,000. Although it is inconvenient, the earlier you begin saving for school the easier it will be financially in the long run.
Posted in Financial Dreams, Financial Planning
|
Print This Post
|
0 Comments
Advice for Saving on Post Secondary Education
By Cassandra_BHM | September 13, 2010
According to the Canadian Federation of Students, Ottawa’s Canada Student Loans Program is now owed more than $13.5 billion in outstanding student loan debt. The Office of the Superintendent of Financial Institutions says that one in every five, or 20 per cent of students with a loan, will default by eventually becoming unable to repay their instalments. On average, students are now graduating $37,000 in debt.
These statistics alone should be enough to inspire post-secondary saving, which is where the Investor Education Fund is of great value. It’s a non-profit website set up for parents and students to help with savings and education options. It has been created to help sort out the best time to start saving, as well as how much to save and how much debt is safe to carry.
Tom Hazma, the president of the Investor Education Fund says the website, “Tries to address the issue head-on. One of the biggest changes that has happened in the financial part of our world in the last 20 years [is that] people didn’t have lines of credit readily available 20 years ago.” He also adds that, “In the last decade in particular, the readiness of people to have credit-card debt is something that is just growing, and this website hopefully shows people what the impact of those decisions are.”
Hazma also points out that the days of earning your tuition over the period of a summer’s worth of employment are long gone. “Suddenly the game has changed. Costs have gone up, and as a result, people are having to make different types of decisions than they had in the past.”
An eye-opening find by Statistics Canada discovered that students between the ages of 20 and 45, who borrow for their tuition fees, were less likely to own a home or have investments or savings in comparison to students who do not have to borrow for their education.
Noah Stewart, the national deputy chairman of the Federation of Students notes, “In most cases, what students need is more money in terms of bursaries and student financial aid and lower costs. We need to lower tuition fees across the board.”
“In today’s economy, a university education is a prerequisite. Seventy per cent of new jobs being created require a college or university degree. If we have a system that’s so unfair that it’s shutting people out of what they require [in order to find] work, we have a problem,” Steward adds.
In the current economic world, it is a fact that better jobs are being given to better qualified candidates, and those usually are the people who have been through school. Saving for post-secondary should be a priority on every potential student’s list, as well as on the ‘to-do’ list of their parents.
If a mound of monthly bills is preventing you from finding a few extra dollars each month to contribute to a savings plan, you may want to consider a consolidation loan. If standard financial institutions are not an option due to bad credit, there are private lenders for whom credit histories are virtually irrelevant to the lending process.
Posted in Financial Dreams, Financial Planning, Kids & Money
|
Print This Post
|
0 Comments
Canadians to Receive an Average 3 Per Cent Pay Hike in 2011
By Cassandra_BHM | September 8, 2010
Good news for Canadians. A recent survey by Mercer Consulting Services announces that many Canadian companies believe the worst is over when it comes to the recession and the financial crisis in general. It is expected that on average, Canadians will see a pay increase of about 2.9 per cent in 2011.
This is up from the average increase of 2.0 per cent in 2009 and the 2.7 per cent increase in 2010. It was also noted that people who work in the oil and gas industries would see the largest increases. Mercer’s survey also showed that salary freezing should not be an issue in the upcoming year as it has been in the past where it was seen at its peak of 31 per cent in 2009.
Mercer also mentioned, “Employers project similar increases for all categories of employees (executive, management, professional, trades and clerical) at either 2.8 or 2.9 per cent … Recent years have seen increases for executives come into alignment with the rest of the employee population.”
Another study done by Aon Consulting came out with roughly the same conclusion, that most companies are preparing for an additional three per cent pay increase for employees in 2011. Aon Consulting has released a statement saying, “Overall, the dampening impact on salaries caused by the 2009 economic crisis is subsiding. Most employers are expecting to be in a position to afford more aggressive salary increases than they have implemented in recent years.”
While 2010 has been a vast improvement for many when it comes to the economy and finances in general, there are still some that have not had such luck. Making ends meet each month still proves to be a challenge and any additional or unexpected expenses only add to this already stressful time. If you are one of the thousands of Canadians who are experiencing a difficult financial time and are in need of some extra money, there is help.
Many private lenders cater specifically to clients who are financially unstable as well as clients with no credit or with bad credit. Even better - getting a bad credit loan to help pay bills, repair a vehicle or consolidate the payments you already have is a great way to begin repairing your damaged credit rating.
If a potential salary increase isn’t enough to get you out of a financial tough spot, do some research on possible lenders. With a little research to ensure you have a trustworthy private lender, you could be on your way to repairing your credit.
Posted in Economy, In the News
|
Print This Post
|
0 Comments
Bad Credit Loan Specialist BHM Financial Announces Affiliation with Payday Lender, Ark Capital
By Cassandra_BHM | September 3, 2010
BHM Financial Group, a privately owned bad credit financing company specializing in secured bad credit loans has announced their most recent affiliation to Scarborough, Ontario based payday loan provider Ark Capital. The affiliation, which has come about due to BHM Financial’s new Payday Lender Affiliate Program will permit Ark Capital to expand on its service offerings. The company will now offer car title loans as an additional financing option for their clients.
BHM’s Payday Lender program initiated earlier this year to great success, enables affiliated Payday lenders and other financial related service providers to provide loans through BHM Financial without bearing any of the risk associated with larger bad credit loans. While typical payday lenders can lend limited amounts, usually under $1,000, for a restricted financing period, lenders who are involved with the program will have the ability to lend between $1,000 and $10,000 for periods of between 1 and 3 years.
Molly Wider of BHM Financial Group explains the reasons behind the program’s creation, “It’s really a win-win situation for both the Payday lenders and for BHM. Payday lenders are able to offer larger loans thereby potentially increasing their clientele and revenue, while BHM get’s to associate with clients they previously couldn’t reach.” She continues, “With affiliates such as Ark Capital who are reputable members of their communities, we are able to offer the face to face, more personable service that we were previously unable to provide since our services were solely internet based.”
The loans being offered are called car title loans. These loans are specifically designed for individuals and businesses with bad credit. Since most major banks no longer approve bad credit loans, private lenders such as BHM fill the gap. Car title loans, as the name suggests, are loans that are secured by the equity in the borrower’s vehicle. Because loans are secured the borrower’s credit history is much less significant than with standard loans.
In addition to the services already being offered by Ark Capital, car title loans have been added to their roster of financial services. Car title loans provided by both BHM and Ark Capital can be approved within hours and can be processed and funded within 24 hours of the application.
BHM Financial Group is currently expanding its affiliate program throughout Canada. For more information about the affiliate program, or BHM Financial’s car-title loans, they can be found on the web at http://www.bhmfinancial.com. For information on loans provided by Ark Capital, the company be contacted by phone at (416)-296-9247.
Posted in PR
|
Print This Post
|
0 Comments