Smart money saving tips you may not know

Many cool ideas to save money in daily life

Recently I read this book and found many chapters are fascination. There are many smart money saving tips we all do not know.  It’s a simple, engaging read filled with real-life stories that covers all of the basics Canadians need to know about credit, debt and investing.

The book provides much-needed advice. It points out that today, Canadians are saddled with over 1.4 trillion dollars in consumer debt and less that 75% have three months’ savings in an emergency account. But the book is also filled with nuggets of valuable information that even the most financially astute may be unaware of.

Top 1-Some bill payments affect your credit score more than others

Keehn says many Canadians are surprised to discover that conventional mortgage payments are usually not included in their credit report. “So, it’s even more vital to ensure that credit card payments, loans and lines of credit are paid on time every month as those debts are reported regularly on your credit report.

She also cautions that if any of your accounts end up in collections, even a minor amount would hurt your score.

Key point:

Pay all your bills on time and order your credit report from Equifax Canada or TransUnion Canada so you can review it yourself.

Top 2-Not all VISA and MasterCard are the same

Most of us are aware of the difference between store credit cards and bank credit cards. But what about the difference between store-issued and bank-issued VISA and MasterCard? If you think the only difference is the rewards offered, think again. Keehn points out those store-issued cards tend to have higher interest rates and aren’t always recognized as major credit cards.

She tells the story of a colleague who tried to use a department store MasterCard to check in at a kiosk at the Toronto airport, and it was refused.

Key point:

Always travel with a bank-issued credit card as they are more widely accepted.

Top 3-Interest on student loans begins the day you graduate

Keehn says, “Although student loans give you a six-month grace period to begin paying down the loan, interest on the loans starts to accumulate the day you graduate.”

Key point:

Pay off student loans as soon as possible by continuing to live like a student after graduating to keep your costs to a minimum.

Top 4-Being just a little late can cost you more than you think

We all know falling behind on our credit card payments means we’ll be hit with interest rate charges. But Keehn points out it can also increase the rate of interest we’re being charged – in the case of one of her clients who was always a few days late, by over 10%.

Key point:

Always pay your credit card by the due date. If you don’t, some cards will hike your interest rate until you’ve made six months of consecutive minimum payments.

Top 5-There is important differences between life insurance and mortgage insurance

Mortgage insurance is sometimes thought of as life insurance,” says Keehn, but it’s not. While life insurance proceeds are tax-free and payable directly to your beneficiary, mortgage insurance is paid out to the lender to cover only the remainder of your mortgage.

Key point:

When it comes to insuring your debt, life insurance can provide you with more control than mortgage insurance over the costs and who will benefit.

Last point- never, ever looks at anyone and compare to other

Last one key piece of financial advice she would like to share with readers after having written The Money Book. She said, “It would be to never, ever look at anyone and compare you financially.

Key point:

Most individuals have no clued what their friends and neighbours are worth. The advent of easy credit creates illusions that couldn’t exist just a few decades or centuries ago. Not long ago, if you didn’t have the cash for something, you didn’t buy it. Now, you can look very wealthy, but like everything, the time of reckoning eventually comes.”

This Money Book for Everyone Else is a guide that will teach you:

• How only paying what your credit card company requests might leave you burdened with a balance for decades;

• How to protect your financial identity and how failing to do so could result in a life-long nightmare;

• How to spot and avoid investment scams;

• Why certain credit cards could leave you hungry and thirsty on your next flight;

• Navigating the world of Canadian tax shelters, along with the basics of investing and debt;

• How to repair and maintain your credit score;

• Simple tips for being debt-free sooner;

• Questions, criteria, and biases you need to be aware of when choosing your financial team.

(Source-The Money Book for Everyone Else by Kelley Keehn)

Simple tips to remove burning or other bad smell from Microwave

Excellent tips to removing bad/burning smell from Microwave

Microwaves can pick up smell from the foods that you cook, especially if they get burnt. It is unpleasant to use a microwave that smells bad. Lots of food smells linger in the microwave for a long time. To combat those odors here are some simple tips for removing bad smell form the microwave.

 

First Tip: Use Lemon Juice

First mix fresh lemon juice and water in a microwave safe cup or bowl and put it into the microwave. Run on high for 2 minutes, and then wait 2 more minutes before removing the mixture.  

If the smell continues, you can make a paste with the juice and water mixture and baking soda and scrub the interior of the microwave. Then let this paste sit for 10 minutes the wipe off and rinse. Then my microwave is clean and odor free.

 

 

Second Tip:  Try Coffee Grounds

 

 

Try leaving a small plate with coffee grounds in the microwave overnight. You will see when you open your microwave in morning there will be no bad odor. If this smell still persists, try this process again.

 

Third tip- Use lemon essential oil

 

Lots of food smells linger in the microwave for a long time. To combat those odors and leave your microwave smelling fresh, use lemon essential oil. Just put a cup of water into a microwave-safe glass container and add 4 drops of lemon oil. Microwave the bowl on high for 2 minutes; keep the microwave door closed until the water is cooled a little, about 10 minutes.

Fourth tip-Use rubbing alcohol

To removing fishy and burnt smells from a microwave, use a little rubbing alcohol on a cotton ball and rub. This cleans it right up and kills the smell. You may want to leave the microwave open for a few minutes, until the alcohol smell dissipates. Then clean with soap and water.

 

Fifth Tip- Use cinnamon or vanilla or lemon extract

To get rid of the awful lingering smell of burnt microwave popcorn, fill a large microwave-safe bowl with one cup of water and sprinkle your favorite spice like cinnamon or add several drops of vanilla or lemon extract. Bring to a boil. Let it sit inside for 10 to 15 minutes to cool down. Simply wipe the walls down with paper towels. Leave the door open to further air it out.

Sixth tip-: Use Baking Soda for

For years I have kept a small opened box of baking soda in my microwave oven. I completely remove the top of the box before putting it in the microwave. Things like popcorn, pizza, etc., can leave a smelly microwave oven, and it's such a simple thing to do so the smells vanish. I happened upon the idea one day while I was putting baking soda boxes into my fridge/freezer. And it dawned on me that maybe it would work in the microwave

How Social networking websites are harming our daily lives (more examples)

More Danger of Social Media

This is my second part of article in which you will see How Social networking Sites are harming our daily lives. In the last article we saw some real examples from web which are showing how Social networking Sites are harming our daily lives. As the popularity of social media sites (such as Facebook, Twitter and MySpace) continues to explode, stories about the danger of social networking are piling up.

You will find how much people are using Social Media to get popularity in weird way.

A fire at a University of Guelph residence Saturday night was part of an apparent suicide attempt that was streamed online, school officials said Monday. A 20-year-old male student, believed to be the person who set the fire, was taken to hospital with serious but non-life threatening injuries. The fire, which broke out just after 7:30 p.m., forced dozens of students to evacuate the residence.  The student live streamed his apparent suicide attempt on a video-sharing website.

Anytime something like this happens, we have to step back,” Brenda Whiteside, the university’s vice-president of student affairs, told CTV Kitchener. “Were there things that we missed? Were there things we can do differently?” About 30 students have been temporarily displaced from their rooms at Dundas Hall, part of the university’s East Residence. The university is providing counselling services for students who need it. “The most important thing is they have access to information,” Irene Thompson, the university’s director of housing, said, adding that this time of year is particularly stressful for students as exams approach. “We want to make sure that they have what they need to survive.”

The first few minutes of the video show a male student moving around a dorm room. Then, roughly eight minutes into the video, flames can be seen engulfing a corner of the small room. The video camera continues to run for the next 20 minutes or so until rescue workers arrive. Kate Schievink, a student who was displaced by the fire, said the video is hard to watch. “If you didn’t have anything to do with the incident itself, I wouldn’t watch it,” she said. Alastair Summerlee, the university’s president, is asking all students, staff and faculty to avoid watching the video. In an online message, Summerlee also said that he considers the University of Guelph community a family. “We pull together in times of crisis and to help those in need. Let us continue to support and strengthen one another,” he wrote.