$1,000 is not a small amount. If you have saved it, or you have received it as your birthday check, don’t let it simply go waste. Instead, spend it in a wise manner. Here are few things you can do with your $1,000. Strengthen Your Emergency Fund Dont fret if you dont have an emergency fund. You have a great opportunity to start with $1,000. if you already have it, add this amount to your fund. The best part about emergency fund is they can be used any time, any where during emergencies. You don’t have to liquidate it like other investments. Hence, having such a fund should be your priority. Consult a Financial Planner You can skip this step if your finances are in place. However, if you have accumulated enormous debt, and don’t know how to repay them, consult a financial consultant,  [...] 

If the world would have been perfect, we would all have dealt in cash, without even realizing what the word ‘debt’ means. We would never have missed a payment because we would have taken care of our expenses in a perfect manner. Creditor’s Calls? There wouldn’t be anybody calling us up except for friends, family, and co-workers. We would never have known how it feels to be frustrated to due lack of money. Nor we would have taken extra pain to pay our monthly expenses, or just to afford another car. The world, however, is far from being perfect. We have distressing situations everywhere, and we have to take the pains to survive in this world. Or we have the option to make ‘our own’ world perfect. If you think there are problems with your finances, take charge  [...] 

Last evening, during an interview with a financial magazine, I was asked a question “What’s the single best advice for readers to save money?” It would have been a piece of cake if the question would have been ‘tell me about some money saving tips’ or ‘ways to save money each month’. But when she asked ’single best advice’, I had to think for a while (and she also was bit surprised with it). However, not according to her expectations, I came up with a very simple, ordinary advice. Although I knew that was a good one, it was certainly not the best one I could think of. So, for the next few hours I mulled over the same question, and I came up with two answers. Earn More, Spend Less This is certainly important, and you simply cannot save money breaching  [...] 

Even if you have the highest paying job in the world, you can be under debt due to your habits. Your approach, your habits can make your rich (or make you poor). Hence, it’s important to pay attention to them, and change them, if necessary. Habit 1: Working For Money Don’t expect money to come to you, even if you have bought all the lottery tickets. To earn money you need to work. If you don’t have an intention to earn money from your work, you will end up working for charity. Work hard, earn more, be proud to be rich. Habit 2: Spend It The more you spend the more you want to spend. Hence, you work more and earn more to spend more. That’s life. You cannot sit idle and watch TV. There are many things you can do with money: buy new pair of shoes and clothes, go out with  [...] 

1.    I want to generate passive income That’s probably a very good idea. But until you don’t act on it, it would only be an idea. Besides, if you have a closer look, you will realize, more than passive income, you can earn money through your active income (current job) simply by sharpening your skills. Having a passive income is a good way to earn extra money. However, not every idea can help you earn $500 per day. But job is a place where you can get significant hike. So, work on your skills instead of nurturing some passive ideas. 2.    I can save more money, if I try a bit harder You can hear a similar statement by an obese person. They know they can reduce weight by consuming less calories per day, but they aren’t ready to reduce it. Besides, simply trying harder  [...] 

If you want to be a super-star at investing, you need to know it works. Very basic principle involves buying at lower price, and selling when it’s high (at least more than what you have got it for). If you breach this rule, you don’t earn. No, I ain’t deviating from the topic. We all do know much about investment and various instruments available in the market. However, one of the least known investment products is an Exchange-Traded Fund. When I talk to people about it, after listening for a while, they ask me, ‘What’s an ETF?’ But I know my readers are not ignorant. So, I would directly start with how you can earn money buying this investment product. 1.    Avoid Commissions Since ETF’’s are traded on major stock exchanges, you have to pay  [...] 

Recently, an anonymous bidder agreed to pay $2.6 million to have lunch with Warren Buffett, the billionaire investor who owns Berkshire Hathaway (BRKA). Last here, the figure was $1.7 million, and $2.1 million in 2008. This clearly shows that Buffett hasn’t lost his charm in spite of bruising his prediction-abilities, when he invested in Moody’s (MCO) and Goldman Sachs (GS), the two companies that were responsible to fuel the housing bubble fire. Two of his picks were responsible for the economic crisis that we recently had experienced. Yet, he is one of the richest man in the country, and is being followed by major businessmen around the globe. His investment strategies, though sometimes they may not help, are simple yet tremendously effective. This is the reason why people agree  [...] 

According to CNNMoney, President Barack Obama would visit Gulf States that are affected by the oil spill. The visit, starting on Monday till Tuesday evening, would be followed by a speech to the nation later that night on what the next steps would be. This speech would be telecast live throughout the country, after meeting with BP officials post visit. According to David Axrelrod, senior advisor at White House, President Obama would ask BP to create an escrow account and deposit funds to pay for damages caused due to the oil spill. This, he said, would be handled by a third party, in order to progress without any bias. When Axelrod was asked whether the President has any legal authority to compel BP for an escrow account, he said that they have the authority, if they need to take this step.  [...] 

According to a recent report in Wall Street Journal, British Petroleum (BP), owing to the US political pressure, is planning to cut down second quarter dividends to its shareholders. However, when the Journal asked Tony Hayward, CEO of BP, about dividend distribution, he said the company will take decision after considering various options. BP has to declare its dividend by July 27, 2010. The other options being considered by the company is deferring or lowering the dividends this quarter. The company’s board may also consider issuing I.O.U to their shareholders instead of dividends. Due to the recent Gulf oil spill, the share price of BP has been through a roller coaster ride, affecting the company’s finance quite adversely. It dropped by more than 16% on Wednesday on US stock markets,  [...] 

I don’t get much time to watch TV at home. But I don’t miss The Suze Orman Show on CNBC even a single day. According to me, she is probably the best financial consultant on television. What Suze Orman Says About Personal Finance? Now, here is a contradiction. All her advices are pretty common. There is nothing unique about it (except for the way she says). However, it’s quite significant to identify your personal situation and take respective steps. I guess that’s the most important part of it. Before you take any steps you need to realize what phase of your life you are in. Are you a college student with no funds? Are you about to retire? Did you just finish your graduation, and are jobless? Are you planning to buy a house while you are expecting a child? There are many questions to  [...]