The Frugal Toad http://www.thefrugaltoad.com Money Saving Advice for Everyday Living Thu, 20 Nov 2014 00:32:25 +0000 en-US hourly 1 http://wordpress.org/?v=4.0 What are the Benefits of a College Financial Education? http://www.thefrugaltoad.com/personalfinance/benefits-college-financial-education http://www.thefrugaltoad.com/personalfinance/benefits-college-financial-education#comments Thu, 20 Nov 2014 00:32:23 +0000 http://www.thefrugaltoad.com/?p=6399 Choosing a degree is always difficult for students; there are so many courses on offer at college that it can be daunting. For those students interested in business, the choice doesn’t necessarily get easier, especially as it is understood that a business degree actually covers a variety of courses which you can specialize in. These [...]

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college financial educationChoosing a degree is always difficult for students; there are so many courses on offer at college that it can be daunting. For those students interested in business, the choice doesn’t necessarily get easier, especially as it is understood that a business degree actually covers a variety of courses which you can specialize in.

These courses can be focused on one subject or interdisciplinary and some can be more theoretical while others are more practical. Finance is one of these specialized courses and is essentially focused on the management of money.

Further enhance your financial studies by enrolling in an international institution. The UK is an exciting option, with Manchester being a vibrant financial hub in the north that is popular with students. At the London School of Business and Finance in Manchester you can study the theoretical and practical applications of a finance degree. They tailor the degree to the individual, allowing you to create the building blocks for the career path you want to make for your future.

So what are the benefits of a college financial education, and a finance degree?

Breadth of Study

Well, firstly a degree in finance is usually offered in conjunction with other FAME subjects (finance, accounting, management and economics). This exposure to the other aspects of business management affords you a larger understanding of the subject of business as a whole.

Career Choices

Finance degrees prepare students for a wide range of careers, such as commercial banking, money managing, insurance, financial planning and real estate. And it may sound obvious, but finance can be applied to almost any industry, including ones you wouldn’t typically associate with the subject; such as fashion, media, health and construction. This means that when it comes time for you to choose a career path your options are wide open.

Job options

As well as having choices in the career trajectory that you want to take, firms hire for financial positions in private, public and voluntary sectors with consistency. These roles often come in the form of graduate training schemes, many of which will give you a chance to experience different departments within the firm, though some schemes will offer a specialization from the beginning.

Lifetime knowledge

A finance degree offers more than the practical considerations of a job out of university and eventual career path. You are not only armed with knowledge but the networking skills to apply this in the working world. Furthermore, the foundation in business that this type of degree offers, will lend you a universal understanding of the current business world and how it functions in society today.

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The Car Commuter: How to Go Green and Save Money Simultaneously http://www.thefrugaltoad.com/frugal-living/car-commuter-go-green-save-money-simultaneously http://www.thefrugaltoad.com/frugal-living/car-commuter-go-green-save-money-simultaneously#comments Tue, 11 Nov 2014 22:22:29 +0000 http://www.thefrugaltoad.com/?p=6390 In recent times, there has been a push to show that cycling is the way forward when it comes to saving money, increasing the amount of exercise you do and lowering road congestion. However, for practical reasons, many people can’t or won’t cycle to work and continue to use a car for the daily commute. [...]

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go greenIn recent times, there has been a push to show that cycling is the way forward when it comes to saving money, increasing the amount of exercise you do and lowering road congestion. However, for practical reasons, many people can’t or won’t cycle to work and continue to use a car for the daily commute.

Some people might automatically turn their noses up at this response, but if your journey to work is long or you own a car because you have a family that you need to drive around, owning a car is a practical necessity and shouldn’t be looked down on.

Two of the major complaints levied at car owners is that they’re expensive to run and that they’re not very environmentally friendly, and which both of these are true when compared to the financial and environmental cost of commuting by bicycle, there are plenty of ways to limit the financial and environmental cost of commuting to work by car each day. Here are some of the best and most easily implementable.

Operate a Car-Share Scheme

If the drive to work is an expensive one, why not ask some of your co-workers who live in nearby areas to share the lift with you. They could contribute to your petrol money and you’d also be filling up all of the available spaces in your car, which is a great way to prevent waste and ensure you’re having the least environmental impact by driving to work each day.

In addition, you’ll also have people to share the journey to and from work with – nobody wants to sit in silence whilst they drive.

Empty the Car and Keep It Light

The heavier your vehicle, the more fuel your engine will burn in any given situation, at any given time. This means that if your car boot is full of heavy items, it’s more than likely that you’re going to empty your petrol tank faster than if it were full.

This is obviously not ideal, so every Sunday, create a routine whereby you go and see what you’ve accumulated in your car over the past 7 days, and you see what you can take out. Not only will this save you money, but it will also help your car to run that little bit greener. 

Efficient Driving Means Efficient Petrol Usage

Although it’s fair to say that if you’ve passed your driving test and you’re allowed on the road in the driver’s seat of a car, you can probably drive. However, it might be similarly reasonable to say that not all legally road-worthy drivers know how to be maximally efficient with their cars. For example, many drivers accelerate too quickly, revving their engine and burning fuel faster than they necessarily have to. This is financially and environmentally unwise, so learning how to control you acceleration will help you in both of these crucial areas. For more information on how you can drive with maximum efficiency, see the helpful guide by Different Money, if you do, you’ll certainly see almost immediate improvements.

Tweak Your Car for Better Performance

Finally, a few tweaks to your car will see that it is working to the best of its ability in terms of its general performance and its green and financial performance. For example, replacing your tires with new ones when they aren’t at their peak, or simply filling them with air when they’re running low, will boost your fuel efficiency by up to 3% according to some estimates.

Ultimately, not everybody can ditch their car in an effort to go green and save money, so if you’re going to carry on using your car, follow the advice above and you’ll soon find that you’re lowering both your financial and economic impact from driving.

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How to Be a Frugal Spender While Getting Your MBA http://www.thefrugaltoad.com/frugal-living/frugal-spender-getting-your-mba http://www.thefrugaltoad.com/frugal-living/frugal-spender-getting-your-mba#comments Tue, 11 Nov 2014 18:55:15 +0000 http://www.thefrugaltoad.com/?p=6386   College may be expensive, but it’s also an investment in your future.  Education opens up doors that might well remain closed without a degree. The paradox of obtaining a higher degree without starving to death is simply to learn to live frugally. Many rich people live very frugal lives, and that is one of [...]

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College may be expensive, but it’s also an investment in your future.  Education opens up doors that might well remain closed without a degree. The paradox of obtaining a higher degree without starving to death is simply to learn to live frugally. Many rich people live very frugal lives, and that is one of the tricks they used to become wealthy. What you learn now may set you up for life.

Cutting College Expenses

getting your MBA

Image Via Flickr By Tobyotter

Textbooks are one of the most expenses part of going to school. There are a few tips that help cut the cost of textbooks. When applicable considering renting textbooks, especially if you can rent the electronic versions. Not only is the electronic version lighter to carry around, but also they are often cheaper if rented. Buy used textbooks when you can. If your college has a textbook club join it. You may find awesome deals through a book exchange.

Choose the Best College

Shop all the colleges that offer the degree program that you want. Some colleges charge a lot more for the same degree. There are some occasions when paying more for a degree makes sense, but in many cases a degree is a degree. If you can find the same online MBA at a cheaper price and it is the same degree offered by a brick-and-mortar university, then consider the savings as a bonus. Be sure to check accreditation and college ranking. An online degree program is often easier to manage while working than are regular degree programs.

Dine In and Then Go Out

Everyone needs to socialize, but you can save a ton of money by eating at home and then meeting friends. Restaurants often charge 300% for many of the same meals you can make at home. If you shop wise, use coupons, and buy things in bulk you can save bank on food. Free activities can be just as fun as those you would find in a club. Try a game of frisbee in the park or joining a hiking or biking club. There are plenty of ways to have an excellent social life and not spend a ton of money.

Be Employed

One thing that is difficult for college students is showing work experience after college. Having a job not only helps you earn more money, but also it provides work references that help later with your job search. A Job is a win-win.

Don’t Be A Slave To Technology

College is a time for the bare minimum. Sure, everybody wants the best cell phone, but those cost more money than they are worth in college and the plans to support them are often exceedingly expensive. Go the basic route when it comes to technology. Save the high-tech for when you finish school.

However, you stack it up; college is expensive. It is, however, a positive expense because having a higher degree means you qualify for jobs that pay more. Being frugal helps you to life better while learning, and it also helps you to avoid piling up debt too.

 

Readers: What other ways can you think of to reduce the cost of a college degree?

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The Great Thanksgiving Giveaway – Win $125 http://www.thefrugaltoad.com/personalfinance/great-thanksgiving-giveaway http://www.thefrugaltoad.com/personalfinance/great-thanksgiving-giveaway#comments Wed, 05 Nov 2014 14:03:51 +0000 http://www.thefrugaltoad.com/?p=6370 Here’s how the giveaway works: $125 prize for one big winner, plus the charity pot of $125 that can also grow! If you’d like to be a sponsor in this giveaway, email Crystal at budgetingfunstuff *at* gmail.com You can participate for $25 until November 20, 2014! Each participating sponsor gets to choose 3 ways that readers can [...]

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giveawayHere’s how the giveaway works:
  • $125 prize for one big winner, plus the charity pot of $125 that can also grow!
  • If you’d like to be a sponsor in this giveaway, email Crystal at budgetingfunstuff *at* gmail.com You can participate for $25 until November 20, 2014!
  • Each participating sponsor gets to choose 3 ways that readers can enter to win (Twitter, Facebook, Email, Google Plus, etc.).
  • The giveaway runs from November 5th, 2014 at 7am EST to November 27th, 2014 at 11:59pm EST.
  • A single grand-prize winner will be chosen randomly and will take home a cool $125 in cash!
  • The grand-prize winner also gets to choose one of the following charities to receive the rest of the pot of $125+ – Big Brothers Big Sisters, the SPCA, Tabitha, Red Cross, or World Wild Life!!!

 

 

 

 

Be sure to come back for additional entries as this giveaway is sure to get bigger!

 

a Rafflecopter giveaway

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Starting a Business with Bad Credit? Why Common Financing Options Will Result in More Debt http://www.thefrugaltoad.com/personalfinance/starting-business-bad-credit http://www.thefrugaltoad.com/personalfinance/starting-business-bad-credit#comments Sat, 01 Nov 2014 18:27:24 +0000 http://www.thefrugaltoad.com/?p=6337 When you hear success stories such as Mark Zuckerberg and the launch of Facebook, you can’t help but think, “If he can do it, so can I”. I mean who hasn’t thought at least once or twice about walking into their boss’s office and calling it quits? Being your own boss, calling all the shots, [...]

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starting a businessWhen you hear success stories such as Mark Zuckerberg and the launch of Facebook, you can’t help but think, “If he can do it, so can I”. I mean who hasn’t thought at least once or twice about walking into their boss’s office and calling it quits? Being your own boss, calling all the shots, working when you want to, and actually making a living seems to be the new American Dream.

However, at what cost?

Walk a Mile in the Shoes of an Entrepreneur

Of course there is nothing wrong with wanting to have your own profitable business, and there are more and more individuals who have taken that route in some form or another. However, businesses don’t fund themselves.

No matter what type of business you’re going to start there are going to be startup costs involved to keep it running, and if you don’t have thousands of dollars sitting in a savings account somewhere, naturally the next best thing is to look for financing opportunities.

Applying for Loans

It only makes sense to go ahead and apply for your first business loan to get the startup money you need for your business. However, the moment you’re approved for the loan, you essentially owe money to another company. A young entrepreneur with bad credit will likely require the assistance of a cosigner and have to pay a considerable amount of money in interest rates, which can start at 10% and go up.

Just Charge it to the Card

No money, no problems… just charge the business expenses to your credit card and you’ll pay them off once you start making money. It seems logical, but is it really? Again with no credit or bad credit, you’re looking at spending anywhere from 15% to 30% on interest rates from credit cards.

The Snowball Effect

So you’ve utilized all of the financial means made available to you and are now looking to start your business. Let’s theoretically say you managed to obtain a small business loan for $5,000 with a 10% interest rate and were approved for two business credit cards each for $2,000 and an interest rate of 19%.

Over the next year you spend approximately $15,000 in operational expenses and startup costs. You’ve utilized your entire loan and maxed out both of your credit cards. However, your business only turned a profit of $12,000 for the year. How do you repay your loan, your credit card debt, and still manage to earn a livable wage? Unfortunately, you don’t, and you end up in the negative with thousands of dollars in debt over your head.

Take Another Route

As an entrepreneur with a startup business, your credit history is the only thing that financial institutions have to go off of. Therefore, a credit score lower than 670 will likely result in high interest rates, which can snowball into significant debt which only starts a never ending cycle.

Rather than trying to apply for new loans and new lines of credit to pay the old ones off, it is best to consider credit repair services, such as those provided by Lexington Law. Before ever applying for financing, it is ideal to review your credit, learn your rights, and invest in services that will help to increase your score. In a year or so, your credit score can increase significantly, opening doors for better lending options with smaller interest rates, which in turn could save you thousands of dollars as you continue to build your business.

Readers: Have you ever considered starting a business? What was a challenge in obtaining financing for your startup business?

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Quick Fixes for a Dilapidating House http://www.thefrugaltoad.com/household/quick-fixes-dilapidating-house http://www.thefrugaltoad.com/household/quick-fixes-dilapidating-house#comments Fri, 31 Oct 2014 13:39:06 +0000 http://www.thefrugaltoad.com/?p=6341 Is your house showing its age recently? Do you feel like you are constantly battling things that are wearing out or breaking in your home? I think we have all been there done that. The good news is that there are some quick and easy fixes for some of those common problems that arise in [...]

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dilapidating houseIs your house showing its age recently? Do you feel like you are constantly battling things that are wearing out or breaking in your home? I think we have all been there done that. The good news is that there are some quick and easy fixes for some of those common problems that arise in an older home.

The Leaky Roof

At times, a leak in the roof may mean that a complete overall is due. In other words, you need a new roof. But, many times it doesn’t mean that at all. At worst, it can just mean hiring some professionals to do a patch job for a couple hundred bucks. At best, you might only need to seal up the seams of your roof.

Many times, leaks present themselves where one section of roofline meets another. Before you drop thousands of dollars on a new roof, you might just want to try tarring the troughs and the area where your roof meets a sided area of the house. This is often the source of the problem, and for just $10 or so, you could solve your own problem and still have a nice looking roof.

The Leaky Shower

A leaking shower can be disastrous, especially if it is an upstairs bath. The water can flow through the floor, right through your once-perfect ceiling. If you are noticing that your shower is leaking right through the tile (like people with leaking showers Adelaide), there is actually a product that can reseal your tile without pulling everything up and starting a construction project. The product is from Megasealed and can be the difference between a $20 fix and a $1,500 fix. Personally, I would try the $20 fix first.

Inefficient Windows

If you have an older home, you most likely have older windows as well. And, with older windows comes inefficiency. In the winter, the cold air comes in and in the summer your cold air from the A/C goes out! To stop this, you could put up some of that ugly plastic wrap, but you really don’t have to. Instead, look around the edges of your windows to see if the framing is sealed properly. Most likely it isn’t and your efficiency could be severely improved just by buying some caulk (you can get clear or white) and caulking around those windows. By sealing off these cracks you could really save yourself some money in both the summer and the winter!

Are you ready to implement some of these quick fixes in your house?

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