Easy Money Saving Changes

Easy Money-Saving Changes
By Nan Wood

One of the most obvious and easy ways to save some extra cash is to change some of the way you use products and items in your everyday life. The key is to make minor changes.

For instance, always buy the cheapest hand soap you can find. The quality doesn’t necessarily go up with the price and you can use it in place of ‘bath soap.’
Always use the whole product. Turn bottles upside down and drain to get the last bit from them. Tear open sugar and flour sacks to get everything; squeeze or cut open tubes to use it all before running out to buy more. You’ll be surprised at how much there really is left!

Also, never use more than you need. Just because it says on the box that you need a full cup, doesn’t mean that you really do it need it. Half a measure of laundry detergent and a half teaspoon of dish soap are examples of what are usually enough, rather than what the manufacturer says.

To save some cash, you can use some of the things in your house in some unique ways. Instead of spending lots of money on the fancy floor cleaners, try using ammonia. It does a great job, and you can use plain water in between times. If your furniture needs some polishing, mix equal parts of white vinegar and vegetable oil and rub on the furniture. Buff with a cloth until it shines.

For a freezer bag, use empty chip bags and close with masking taps. Also try a bowl with a lid, such as a margarine tub.

If your skin is feeling a little dry, there are several substitutes for expensive lotion. Petroleum jelly rubbed into your hands at night after a warm water soak, mayonnaise (rinse w/ cold water after), or any other oil based food. Just be sure to put it on immediately after your hands have been in water.

To save some money on laundry, dissolve a bar of hand soap in water to replace laundry detergent. Add three gallons of hot water, mix thoroughly and add a cup of washing soda.

Sure, these are small changes, but added up, they can put some extra change into your pocket throughout the year!

Nan is an Accountant and Real Estate Professional RealEstateLady

Avoid Spending pitfalls

Avoid Spending Pitfalls!
By Nan Wood

With all the advantages that are evident from personal budgeting, it is no wonder that more and more people are relying on them to reduce debts and increase their savings. However, all ‘budgeters’ need to be careful to avoid some common pitfalls that appear often.

Credit cards may seem like small pieces of plastic; however they can cause a great deal of trouble for the owners. It is common for people to make unwise purchases, which they would have avoided otherwise, because they had the credit card in their wallet. The best solution for many people is simply to get rid of credit cards and begin paying only by cash, check, or debit cards. You may want to keep one card handy for emergencies, but it is probably best to keep it out of reach, and far away from your wallet.

Another problem with budgeting is impatience. There are financial goals set, but people do not have the patience to complete a savings program. For instance, an individual begins setting aside money for a new car; however, after a few months they discover the car of their dreams. Rather than waiting, they make the purchase. This could pose some serious financial strains. Discipline is a must to prevent impatience from breaking your budget.

Once a person makes a budget, they often fail to adjust it when necessary. A budget is created using a set of expenses and income figures that are liable to change. As these figures do change, it is important that the budget changes to reflect the adjustments. There could be some major deficits if this is not done appropriately and promptly.

Of course nobody forgets about Christmas or Hanukkah, however many people do not consider budgeting for holidays when creating a budget. Therefore, adequate funds have not been set aside for presents, food, parties, etc. These items should be factored in and saved for throughout the year.

Finally, many people factor in transportation and accommodations for vacations in their budget, however they underestimate money needed for food, entertainment, and spending money. Keep in mind that all the resorts and tourists areas are double or triple what you would normally pay.
With a little planning, you’ll be on your way to saving more money than you ever thought possible!

Nan is an Accountant and Real Estate Professional RealEstateLady

Cut Back on Spending

Cut Back on Spending
By Nan Wood

At first it may seem difficult to limit spending and stick to a budget, however there are a few practical changes that you can make everyday that will cut you’re spending more than you expect.

Firstly, alter credit car behavior. Start to pay cash whenever possible. This will help you avoid making a purchase unless you actually have the money available. If you decide to make a credit card purchase, be prepared to pay the balance off monthly. This will save a lot of money through avoiding interest charges. If you already have a credit card balance, then transfer to a card with a low interest rate. Also, find a card that does not charge an annual fee.

Another tip is to pack your lunch everyday. All of those lunch hours spent at restaurants will add up. Bringing your own lunch can save you several dollars every day, which will add up over time.

Use your cell phone during off peak hours. Some people will spend a couple hundred dollars a month on phone charges. Avoid this by making most calls during off peak times. Check with your service and plan to find out when you have cheaper or unlimited calls.

Stop throwing away the Sunday newspaper before skimming through the advertisements. Clip some of those coupons and check out the sales. This may seem tedious, but the savings are often worth it. Many stores will double or triple the amount of the coupon. This technique can save you up to 20 or 30 dollars each time you head to the food store.

Additionally, refinance. Mortgage rates have been extremely low over the past year. This has been a great opportunity to reduce the monthly house payment significantly. If you are planning to have your house paid off prior to retirement, then you may want to factor this in before refinancing.

Finally, bundle your insurance. Many insurance companies will offer their customers lower rates if they purchase multiple policies. For instance, some people use the same agent for multiple cars, and others combine their cars and house. Always keep in mind that a dollar here and there really begins to add up. Avoid the temptation of thinking that changing your spending habits wouldn’t save that much money.

Nan is an Accountant and Real Estate Professional RealEstateLady

Create and Maintain Your Budget

Create and Maintain a Budget
By Nan Wood

The first step to avoiding the troubles of financial debt is to create and maintain a budget. It’s not as intimidating as it sounds, don’t worry.

First off, create a list of all your monthly income and also a list of your monthly expenses. When determining income, list all sources including alimony, child support, side jobs, etc. In calculating expenses, be sure to include housing, food, transportation, utilities, entertainment, etc. To gain an accurate reflection of actual expenses, sit down each night and write down expenses, just make sure to save receipts. Determine if your income covers all of your expenses. If the answer is no, then some expenses need to be reduced.

Adjust expenses. If it is a small discrepancy, it may mean reducing some minor expenses like entertainment or cell phone plan. If the deficit is larger, you may need to downsize your vehicle or living arrangements. If your income covers all of your expenses, you still may want to trim some of the excess fat off your spending habits. This can free up extra money for things such as vacations or college funds for your children.

Additionally, consider if you need to add new categories. Some areas that are often overlooked are debt reduction, emergency savings funds, and retirement savings. An emergency fund ensures there is an adequate amount available to cover unforeseen events (car emergency, etc), should it arise. This will eliminate the need for using credit which can quickly damage your budget.

There are several advantages to sticking to your budget. Firstly, most people have set financial goals that they would like to reach in the future. Sometimes it may be a trip, a brand new car, or a college education. A budget can help people save money to make these goals a reality. Additionally, many people are crushed under heavy consumer debt. Without a disciplined pattern of spending, it is virtually impossible to make much headway in reducing debt. A personal budget will provide the necessary framework to begin eliminating these inflated account balances.

If executed properly, a budget will allow a person to simultaneously meet their expenses, place money into savings, and pay back outstanding debts. Therefore, it is anyone’s best interest to create and implement a budget.

Nan is an Accountant and Real Estate Professional RealEstateLady

Home Prices In Atlantic County, New Jersey are Skyrocketing

Home Prices in New Jersey are Skyrocketing
By Nan Wood

Home prices in New Jersey have been skyrocketing for some time now. Unfortunately, the average income has not been doing so. In 1995, the median single-family home in the Atlantic City area was approximately four times the average annual income in the area. It price is now more than eight times the average income in the area.

Home prices are just too expense for many workers, especially the first time buyers. Average income in Atlantic County was approximately $32,000 a year in 2004. The average income for the State of New Jersey at that time was $$41,000 a year. So many people are looking for houses at inflated prices while they live on lower personal incomes. Prices of homes rose 22.5% in 2005, while wages rose 3.6% . This translates to workers in South Jersey are spending a larger portion of their income on housing costs.

Here are a few ways to increase the chances of starting out:

1. Buy a townhouse or condominium first. Prices are generally lower for this type of housing.
2. Buy a house that requires work. You can buy a house at lower prices when you are willing to do the work it requires to bring it up to your standard.
3. Consider buying a home with a loan from relatives, thereby lowering your interest costs.
4. Consider buying your home with family members to reduce the cost to both of you.
5. Pay down your existing loans, credit cards to reduce your overall debt before you start looking for your new home.

If you work with a Real Estate Professional and explain your current situation, they can help you move forward. Your agent can suggest you get a pre-approval for a mortgage which will help you determine what you can afford.

You should not make any larger purchases prior to buying your new home. That new car you need that requires a loan should wait until after your own your home. Work with a Real Estate Professional – your new home is out there.

Nan is an Accountant and Real Estate Professional. She works with ‘The Dream Team’ in South Jersey. RealEstateLady
MortgageFinancing

Real Estate Mortgage Loans - Find the Right Mortgage

Real Estate – Mortgage Loans - Find the Right Mortgage for Your Needs
By Nancy Woodward

If you are looking to buy a new home, condo or piece of property, it is important to find the right mortgage in order to get a low mortgage rate and mortgage terms that fit your budget and lifestyle. Today, there are many mortgage products that people can choose from.

Gone are the days that 30 year mortgages and 15 year mortgages were the only mortgage products on the market, today you can find almost a dozen types of products that can fit your budget or situation.

With mortgage rates starting to rise, there is now renewed interest and an increase in competition among mortgage companies offering their customers many types of products. Some of the mortgage products being offered include 40 and 50 year mortgages, adjustable rate mortgage and interest only mortgage. With so many types of products, more home buyers are able to secure a mortgage and buy a home of their dreams.

Although there are many types of mortgages, it is still important to shop around and find the right mortgage that fits your budget and lifestyle. You can create hardship for yourself if you choose the wrong type of mortgage. Many homebuyers try to go for the lowest rates even though down the road your interest rates can rise and cripple your ability to pay your mortgage possibly causing you to default on the loan. Keep in mind the different products and talk to your accountant and family about finding the right mortgage that fits your needs.

Nancy is an Accountant and Real Estate Professional. Visit her online site RealEstateLoan

Business Pitfalls - Avoid them

Business Pitfalls to Avoid
By Nancy Woodward

If you are planning on starting a new business, you should be aware that many businesses fail due to many factors. If you want your small business to work, you should take time to learn about the many pitfalls that can doom a business. Here are a few tips on business pitfalls to avoid.

There are many business pitfalls to avoid. Depending on the type of business you are starting will determine which business pitfalls are prevalent. One of the most common business pitfalls is starting a business without enough capital. Many entrepreneurs try to launch a business with far less capital that is necessary. Not only does this put a strain on inventory, but can also hamper budgets for advertisements, labor and expenses just to get your business launched. Many businesses are dead in the water before they even launch due to lack of capital. If you are starting a new business, plan ahead and make sure that you have enough capital to back up your business.

Another business pitfall to avoid is to be uneducated about your market. Many businesses have a great product but don’t know how to sell it to the market. Most people put their energies in the one aspect of their business but ignore or are unable to comprehend another major aspect of their business. If you are starting a new business, learn all areas of your business. Your business will have a greater chance of success if you are knowledgeable and know about the front end as well as the back end of the business. If you are planning on starting a new business, research your idea carefully before you start. Due diligence before will set you on the right path.

Nancy is an Accountant and Real Estate Professional. Visit RealEstateLady

Find an Office

Find an Office
By Nancy Woodward

If you are thinking of expanding or would like to set up a home base, for most small businesses finding an office makes sense. Most offices for small businesses are surprisingly affordable and can be much a more effective work environment than working from home.

While many people love working from home, if you think your work productivity lacks because you are constantly being distracted at home, you may find finding an office is the perfect answer. Office’s for a few people or even one or two people are very affordable and you can usually deduct the entire cost or partial cost on your taxes.

Most people that look into finding an office are amazed that it can be very affordable and easy to set up. Usually phone lines, internet and sometimes even furniture are included in the price of renting an office. Most small offices can be found for less than $1,000 per month and many are less than that. Many small businesses find an office a great way to go legit, not considering them a home based business any longer. If doing this alone is a problem for you, consider advertising in the local paper. You and a ‘share’ person can handle the rent easier.

If your business has been hiring labor, guiding your labor and managing them is much easier in a true office environment. Many home businesses that find an office usually see a spike in productivity as labor and the business owner can focus better and work together. If you have a small business and would like to find an office to expand or manage your staff better, take a look at the above tips. Also consider sharing the space with another small business owner who needs space but does not want to go it alone either.

Nan is an Accountant and Real Estate Professional RealEstateLady

Changing Real Estate Market - Can I have an Opportunity?

Yes, it definitely does create a new opportunity. Since the Real Estate market is slowing down, there is a larger inventory of houses. Since a larger inventory of Real Estate exists, buyers can move somewhat slower in making decisions and signing on the dotted line. The market is more balanced at this point in time and there are benefits to this situation for both the buyers and sellers.

Buyer’s advantages are:

1. More choice in houses
2. Decisions can be made slower
3. Sellers will have fewer offers to choose from.
4. Properties will be competitively price from the beginning.
5. Mortgage rates are still at historical lows.
6. Since appreciation is expected at a slower rate, moving up is more affordable.

If you are considering moving, now is a good time to enter the market looking for your perfect home. You will still find a reasonable interest rate; particularly if you have a good credit history and credit score. Sellers will give your offer more attention since they will be receiving fewer multiple offers.

Atlantic County, New Jersey, is one of the areas where prices have just skyrocketed in the past few years. Homes in my neighborhood have risen 75% in the last three – four years. This appreciation makes it difficult for the new buyer or young buyer to enter into the marketplace. The slow down of the Real Estate market will help them tremendously.

Nancy is a Real Estate Professional and Accountant. Visit RealEstateLady

Business Resources - Make your Business Profitable

Business Resources - Make your Business Profitable
By Nancy Woodward


One of the most important keys to make your business profitable is to find the right business resources. Business resources can encompass many things including the right labor, business tools, information, analysis and advertising. Being able to tap into the right business resources can take lots of practice and sometimes even a little luck. Her are some tips on getting the most out of your business resources.

Finding the right business resources can take time and energy, but it absolutely worthwhile when you are able to find labor, tools, information or advertising strategies that work for you and your business. Some of the easier ways to find business resources is actively search for them on the internet, small business association or other professional organizations and books & magazines. There are tons of great resources, but you will have to put aside time and filter through all the fluff to find the nuggets of great information that can truly help you and your business succeed.

If you starting out, check for business resources online. There are tons of business resources that are only a click away. There are plenty of business forums, where many entrepreneurs come together to talk about business related topics and share ideas and opinions. Many forums are worth their weight in gold and have hundreds of visitors and contributors daily. You can also check out your local small business association for get together or other professional organizations that are connected with your trade.

To catch up on topical information and to hear opinions from guru’s in the world, it is always good to read business related books and magazines. So if you are starting a business, make sure you develop your business resources. The time you spend on research before you begin, will save you time, heartache and money after you begin.

Nancy is an Accountant and Real Estate Professional. Visit RealEstateLady

Business Pitfalls to Avoid

Business Pitfalls to Avoid
By Nancy Woodward

If you are planning on starting a new business, you should be aware that many businesses fail due to many factors. If you want your small business to work, you should take time to learn about the many pitfalls that can doom a business. Here are a few tips on business pitfalls to avoid.

There are many business pitfalls to avoid. Depending on the type of business you are starting will determine which business pitfalls are prevalent. One of the most common business pitfalls is starting a business without enough capital. Many entrepreneurs try to launch a business with far less capital that is necessary. Not only does this put a strain on inventory, but can also hamper budgets for advertisements, labor and expenses just to get your business launched. Many businesses are dead in the water before they even launch due to lack of capital. If you are starting a new business, plan ahead and make sure that you have enough capital to back up your business.

Another business pitfall to avoid is to be uneducated about your market. Many businesses have a great product but don’t know how to sell it to the market. Most people put their energies in the one aspect of their business but ignore or are unable to comprehend another major aspect of their business. If you are starting a new business, learn all areas of your business. Your business will have a greater chance of success if you are knowledgeable and know about the front end as well as the back end of the business. If you are planning on starting a new business, research your idea carefully before you start. Due diligence before will set you on the right path.

Nancy is an Accountant and Real Estate Professional. Visit RealEstateLadyand MortgageLoan

Mortgage Rates are rising - Energy prices are high

Mortgage rates are rising – Energy prices are high – Inflation coming?
By Nancy Woodward

Mortgage rates are rising as the markets believe the Federal Reserve will raise the interest rates higher. Rates on 30 year mortgages hit a high of 6.67%. This is the highest rate in the last four years.

The housing market has been slowing down after five tremendous years. The rising mortgage rates greatly affect the ebb and flow of the nations housing inventory. Some analysts believe that sales will decline 10% decrease in sales as the interest rates rise.

In the Philadelphia area, economic conditions improved. Business activity is improving also. Manufacturing is improving at a slower pace. Retail Sales increased from April to May and is expected to continue unless higher gas prices slow the overall consumer spending. Lending for both consumers and commercial accounts rose in May.

The Fed Chief, Ben Bernanke, stated that consumer prices are racing forward at an annual rate of 5.2%. The rise for all of 2005 was 3.4%. High energy costs affect the economy in so many ways. The economy is flexible and seems to have absorbed shocks of the past years.

Greenspan was such an influence on markets that his replacement must create his own reputation for effective and decisiveness. I am hoping the flexibility of the market continues and we avoid economic slowdown and inflation.

Nancy is an Accountant and Real Estate Professional with an interest in all housing issues. Nancy is online MortgageLoan
MortgageFinancing

Check Scams - When is a check "Good"?

Check scams - When can you be sure a check is actually good?
By Nancy Woodward

Protecting yourself from scams is becoming increasingly harder since credit theft is on the rise in the nation. Thieves steal more than your possessions. They now steal your identity, credit cards, checks and more.

When you deposit a check in your checking account, the bank makes the funds available in two to five days. Does this mean you are really safe? No, not necessarily. Federal rules require the banks to release the funds to you in that time frame. Yet, it can take weeks before the bank actually discovers if the check is fraudulent. Most consumers believe the phrase “the check has cleared” means it is not fraudulent.

Should the check turn out to be fraudulent, the depositor is responsible for the money. You have probably received a notice from your bank called a “Fraud Alert”. This statement tells you that you are the responsible party and provides you some information. Since you deal with the person who gave you the money, you are in the best position to determine if it is risky.

You could find that you must repay the bank for bad checks. This can obviously cause financial problems, stress and, if you are not in a good position, could cause you to have credit issues.

Steps you can take to protection yourself:

1. Don’t accept a check for more than it should be. Question this practice.
2. Is the account in the name of the buyer who is paying you?
3. Don’t agree to pay money to others in foreign countries for deposits you accept here.
4. Play it safe.

Use your good judgment to protect yourself. If there is any doubt in your mind, don’t proceed. As the advice of a qualified professional before you get involved. Using care will help you avoid future problems.

Nancy Woodward is an Accountant and Real Estate Professional affiliated with “The Dream Team. Visit online RealEstateLady and MortgageLoan

Credit Issues - Identity Theft gives rise to credit issues

Credit Issues – Identity theft gives rise to credit problems, 10 Steps to Protect yourself.
By Nancy Woodward

In the past two weeks, I have read three different articles on identity theft in various ways. The VA had a data leak after an analyst took home a laptop with electron data containing names, Social Security numbers and dates of birth of 26.5 million veterans. This is certainly enough information for identity thieves to obtain new accounts using stolen data.

A 45 year old woman in Egg Harbor Township, New Jersey got a call from her credit card company asking if she purchased thousands of dollars on Ebay using her credit cards. Fortunately, the credit card company caught this activity in time before she could have serious problems straightening out her credit.

Credit card fraud and identity theft are on the rise in the nation. You need to take steps to protect your information. Checking your credit card statements regularly will turn up problems immediately. The pattern of abuse seems to be toward charging smaller amounts on credit cards, not necessarily maxing out the card. This makes detection harder at the point of sale.

Take care when using your cards. Steps to take to protection yourself:

1. Take the copies and the excess paper with you.
2. Ask the clerk to return your card as soon as they are finished swiping it.
3. Destroy all outdated and cancelled credit cards.
4. Don’t use pin numbers in public areas.
5. If you are using an ATM be careful no one can see what you put into the machine.
6. Obtain your free annual credit reports at various times during the year and check the information carefully.
7. Don’t give out personal information over the phone, thru the mail or over the Internet unless you started the action.
8. No one should call you on the phone and ask any personal information including the phone company, credit card companies, your lenders etc.
9. Don’t ever give out your Social Security number.
10. Be alert when using your personal information in any form.

A little care now will go a long way toward protecting valuable information and your credit rating.

Nancy Woodward is an Accountant and Real Estate Professional affiliated with “The Dream Team. Visit online RealEstateLady and MortgageLoan

FCC Fax Junk Rule - Effective Aug 1, 2006

FCC Fax Junk Rule – Effective August 1, 2006
By Nancy Woodward

Since the Federal Communications Commission has revised its Junk Fax Prevention Act of 2005, it is important that you are aware of the changes as they apply to your business. Some of the requirements on the sender are:

1. The sender must have an ‘established business relationship” with the recipient or have written consent from the recipient to sending all unsolicited advertising faxes.

2. Sender must have received this fax number voluntarily.

3. Receiver must have the right to opt-out of receiving future faxes.

4. The sender must honor all opt-outs within thirty days of receiving the communication.

Since the opt-out must be included, you must be sure to follow the following guidelines:

1. Opt-out must be clear. It must be on the first page of the fax.

2. The opt-out must not appear to be part of the advertising. A reasonable user must be able to determine that it is not advertising but a clear statement.

3. It must state the receiver can opt-out of future unsolicited advertisements. It clearly must state the sender must honor the opt-out within thirty days or they will be breaking the law.

Since the method of opt-out must be sent in the same fashion as stated in the unsolicited advertising, it is important that you, as the consumer, follow the letter of the rule. If you receive a fax, follow the directions if they require replying via fax. Only this method is covered under this law. Be sure to provide the required information. If you don’t follow the directions, the sender does not have to comply.

The rule when broken down in steps is easy to follow. It will help you eliminate more ‘junk’ information.

Nancy Woodward is an Accountant and Real Estate Professional. Visit her online RealEstateLady

Real Estate Open House - Use Borrowed Furniture?

Real Estate Open House – Stage an Open House with Borrowed Furniture?
By Nancy Woodward

Recently I showed a house in an middleclass area. I had the pleasure of meeting the owner of a new business – Staging Open Houses. What a good business. This idea is not new but the lovely lady I met added her own twist to this.

Mary’s primary business is Home Decorating. She has a great affinity for homes, their furnishings and decorations. She explained to me some of her strategies for finding clients for both of her affiliated businesses. She visits open houses and meets the Real Estate Agents. After explaining her business and handing out cards, she offers to go thru the house and give the Agent some free tips to help make the atmosphere more pleasurable for the visitor.

After having experienced this tour, I decided to check out other ways to accomplish this task without having to hire an independent consultant. I found that you can rent furniture from Rental companies and, it may be possible, to make an arrangement with a local furniture store to borrow some furniture. This arrangement can help both the Agent who is now showing a less than empty house and the Store, for free advertising. This is a good way to help your sales efforts and, at the same time, help you to become known in the business community.

Real Estate Sales takes time, connections and serious dedication. An active Agent should look for ways to improve their sales while working on other things. I call this NET time. I attempt to use NET (No Extra Time) whenever I can to accomplish more than one task for both Real Estate Sales and being a good neighbor.

Nancy Woodward is an Accountant and Real Estate Professional. Visit her online RealEstateLady

Credit Reports and Credit Scores – Get a free report once a year and monitor the information contained in it.

Credit Reports and Credit Scores – Get a free report once a year and monitor the information contained in it.
By Nancy Woodward


In 2005, the FACT ACT went into effect. This ACT gave you the right to obtain a credit report a year from each of the three major credit bureaus, Equifax, Trans-Union, and Experian. These agencies have set up a central location for you to do this:

AnnualCreditReport.com

Once you have obtained your reports, you can verify the information. Since a credit report is a listing of how much credit you have available, how much you actually owe and how you paid the obligations you incurred in the past, it is used by potential lenders to evaluate your standing.

You need to review this report carefully. Verify the accuracy of all the information carefully. Are the balances of your accounts correct? Is the list of lenders accurate? Have you closed accounts and is this information reported? Are you aware of all inquiries listed on the report? Is the basic information accurate: name, address, Social Security number?

The accuracy of this information is vital to your credit life. If there are listings for credit cards, loans or any other transaction that you are not familiar with, you could be a victim of identity theft. Should you note a serious problem, contact the fraud department and request an alert be placed in your credit report. This will stop all accounts from being opened without the lender contacting you first.

Should you find that your credit rating is lower than you expected, you can improve this score. Steps to help you do this:

1. Make a list of lenders and the balances you owe them.
2. Determine how much disposable income you currently have to pay these bills.
3. Make a list of the lenders you would like to eliminate – those with small balances.
4. Pay additional amounts to those lenders you have decided to eliminate first.
5. After you have eliminated one, work on the next bill.

Overtime, you will pay your bills more promptly, owe less money and, although it will take time, you will improve your credit score. Then when you search for credit, you will find lower interest rates and have an easier time obtaining it.

Nancy Woodward is an Accountant and Real Estate Professional online RealEstateMortgage

Real Estate Prices - Skyrocketing prices are great?

Real Estate Prices – Skyrocketing prices are great?
By Nancy Woodward

Real Estate prices for homes, land, and commercial properties have skyrocketed in the last decade. While I, as a home owner, am very happy to have my property value increase so dramatically, I wonder how our children and grandchildren will buy homes. Today, more than ever, it is very difficult for low and moderate-income families to buy homes.

The New Jersey Association of Realtors has formed a Housing Opportunity Foundation to help provide greater opportunities for homeownership for New Jersey residents. The Foundation donates funds to 501 C (3) organizations who provide education by developing public awareness to create affordable home options for residents of the state.

This problem will not go away by itself. It will take the effort of community leaders, Real Estate Agents and Brokers to make this subject come into the forefront of discussion. Attend your meetings, make your suggestions to the leaders of your Realtor Associations. Perhaps you can volunteer to obtain more information on the subject, do some research and report back to your leaders.

If your state does not have a program currently, perhaps you could contact the Board of Realtors with your concern and suggestions. I’m glad to see that the New Jersey Realtor Association takes a proactive stance to help residents of the Garden State.


Nancy Woodward is an Accountant and Real Estate Professional affiliated with “The Dream Team”. RealEstate

Business 101 - Set Up your business keeping it simple

Business 101 - Keep it Simple
By Nancy Woodward

Now that you have made your decision to open your own business, what should you do? In an effort to make this a simple process that’s easy to implement, I’ve created a checklist you can follow. I find that working with checklists will help you to stay focused as you work to get your business started.

1. Make your decision to start. Create your business plan. This is vital; it will give you a guideline for progress and establish your niche.

2. Establish your business entity. You must decide on your business form – sole proprietorship, partnership, or a corporation. I suggest you get help with this from a qualified person.

3. Get a business license or complete all of the certifications required to start your business in professional, legal way.

4. Purchase Insurance - determine if you need it. If you do, buy it now before you need it.

5. Setup your office – Be organized. Just make sure you have what you need to start. You don’t need every gadget, just the vital ones.

6. Determine your schedule - No matter where you work (home or outside), you need set hours of operation. Your customers must know what to expect. Set your schedule realistically and stick to it.

7. Website - I believe in today’s environment, a web presence is very effective.

Research each item, do your due diligence and you will start your new business by putting your best foot forward.

Creating a budget - Step 2 cut Back on Spending

Cut Back on Spending
By Nancy Woodward

At first it may seem difficult to limit spending and stick to a budget, however there are a few practical changes that you can make everyday that will cut you’re spending more than you expect.

Firstly, alter credit car behavior. Start to pay cash whenever possible. This will help you avoid making a purchase unless you actually have the money available. If you decide to make a credit card purchase, be prepared to pay the balance off monthly. This will save a lot of money through avoiding interest charges. If you already have a credit card balance, then transfer to a card with a low interest rate. Also, find a card that does not charge an annual fee.

Another tip is to pack your lunch everyday. All of those lunch hours spent at restaurants will add up. Bringing your own lunch can save you several dollars every day, which will add up over time.

Use your cell phone during off peak hours. Some people will spend a couple hundred dollars a month on phone charges. Avoid this by making most calls during off peak times. Check with your service and plan to find out when you have cheaper or unlimited calls.

Stop throwing away the Sunday newspaper before skimming through the advertisements. Clip some of those coupons and check out the sales. This may seem tedious, but the savings are often worth it. Many stores will double or triple the amount of the coupon. This technique can save you up to 20 or 30 dollars each time you head to the food store.

Additionally, refinance. Mortgage rates have been extremely low over the past year. This has been a great opportunity to reduce the monthly house payment significantly. If you are planning to have your house paid off prior to retirement, then you may want to factor this in before refinancing.

Finally, bundle your insurance. Many insurance companies will offer their customers lower rates if they purchase multiple policies. For instance, some people use the same agent for multiple cars, and others combine their cars and house. Always keep in mind that a dollar here and there really begins to add up. Avoid the temptation of thinking that changing your spending habits wouldn’t save that much money.


Visit Nancy online MortgageLoan

Create and Maintain a Budget

Create and Maintain a Budget
By Nancy Woodward

The first step to avoiding the troubles of financial debt is to create and maintain a budget. It’s not as intimidating as it sounds, don’t worry.

First off, create a list of all your monthly income and also a list of your monthly expenses. When determining income, list all sources including alimony, child support, side jobs, etc. In calculating expenses, be sure to include housing, food, transportation, utilities, entertainment, etc. To gain an accurate reflection of actual expenses, sit down each night and write down expenses, just make sure to save receipts. Determine if your income covers all of your expenses. If the answer is no, then some expenses need to be reduced.

Adjust expenses. If it is a small discrepancy, it may mean reducing some minor expenses like entertainment or cell phone plan. If the deficit is larger, you may need to downsize your vehicle or living arrangements. If your income covers all of your expenses, you still may want to trim some of the excess fat off your spending habits. This can free up extra money for things such as vacations or college funds for your children.

Additionally, consider if you need to add new categories. Some areas that are often overlooked are debt reduction, emergency savings funds, and retirement savings. An emergency fund ensures there is an adequate amount available to cover unforeseen events (car emergency, etc), should it arise. This will eliminate the need for using credit which can quickly damage your budget.

There are several advantages to sticking to your budget. Firstly, most people have set financial goals that they would like to reach in the future. Sometimes it may be a trip, a brand new car, or a college education. A budget can help people save money to make these goals a reality. Additionally, many people are crushed under heavy consumer debt. Without a disciplined pattern of spending, it is virtually impossible to make much headway in reducing debt. A personal budget will provide the necessary framework to begin eliminating these inflated account balances.

If executed properly, a budget will allow a person to simultaneously meet their expenses, place money into savings, and pay back outstanding debts. Therefore, it is anyone’s best interest to create and implement a budget.


Nancy Woodward is an Accountant and Real Estate Professional MortgageLoan

Real Estate Sales - Ten Steps to Getting your Home ready to sell

Real Estate Sales – Ten Steps to Getting your Home ready to sell
By Nancy Woodward

Does your home have curb appeal? Is the first impression a positive one? Would a buyer want to open the front door?

There are simple steps you can to take to add to the overall value and appearance of your home. Here are my top ten suggestions:

1. Cut the grass and trim the edges. Place a few colorful plants outside the front of your home.


2. Clean up the paint on the exterior of the house. Power wash the dirty areas.

3. Paint dingy rooms. Touch up spots on walls if you have the exact matching paint.

4. When painting, stay in the neutral tones. Buyers prefer not to ‘have to’ change colors.

5. Clean the entire home. A little soap and water works miracles. Your carpets should be stain-free. Tubs and shower should be spotless.

6. Check the windows and doors to be sure locks function properly.

7. Make sure there are no drips, squeaks and rattles. Buyers tend to turn things off and on. Test lights, doors, faucets and toilets.

8. Get rid of the clutter.

9. Organize the closets, garage and attic and/or basement areas.

10. Consider getting a home inspector to check the house for you and make suggested repairs before they are discovered.

A little advance thought and effort will pay dividends. When potential buyers visit, they will see a home that is warm and inviting. Do your due diligence and your home will sell faster.

Nancy Woodward is an Accountant and Real Estate Professional. Visit Nancy online RealEstate

Home Business Tips for the Budding Entrepreneur

Home Business Tips for the Budding Entrepreneur
by Nancy Woodward

Many people who want to start a home business look for home business tips that can make their lives much easier by learning from others. Many small business owners will happily share their business tips with you in order to get your business off the ground. Most of the time home business tips are practical, but depending on what type of business you are going into will determine what kind of tips are useful.

Many times common sense and plain old practical information is the key. The most common home business tip is to learn as much about your business as possible, particularly from others who are successful now. Knowledge truly is power. You need to understand your market, the customers, your competitors and your business inside and out to truly succeed. Don’t expect any short cuts; starting a business requires hard work and lots of thought and preparation before you begin.

Learning from your competitor is another great way to absorb knowledge. Your competitor has probably been through the same pitfalls as you and somehow succeeded. Look at how your competitor does business and try to follow his strengths. If you see a flaw in your competitor, try to capitalize on it.

Talk to other small business owners. Many small business owners are in the same boat as you and are always looking for people to talk to about how to get their business off the grown and be profitable, use the many home business forums and resources such as magazines and books. If you are looking for great home business tips, check out the above resources. Another way to get information is to look for SBA sites in your area. They dispense information that will help you write a business plan and obtain funding if you are eligible. Do your due diligence before your open the doors.

Nancy Woodward is an Accountant and Real Estate Professional. She has an interest in business, real estate and all things related. Visit Nancy online RealEstate