Common Cents Budgeting Tips

July 2004

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In This Month's Issue
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Inspiration for the Month
From The Budget Coach
Featured Tips or Information "Budgeting for a Vacation"
Your Question for the Day
Special Offer of the Month
Recommended Resources
Contact/General & Unsubscribe Info

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Inspiration for the Month
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'If you have to be someplace other than where you are, you'll never see the here and now.' -- Carl A. Hammerschlag

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From The Budget Coach
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Welcome to my 'Common Cents Budgeting Tips' Newsletter.

I'm delighted to have the opportunity to share these tips with you. Remember, you are a vital part of this whole exchange and if you ever have questions or some valuable experience or resource you want to share with others, please don't hesitate to let me know.

Many of the new sections that were added to The Budget Kit workbook over the various revisions these last many years, came from insightful readers and clients like you who wanted to help make a difference.

'Common Cents Budgeting Tips' is published monthly. The focus of this monthly newsletter is to provide you with some quick money management tips and ideas you can immediately begin to use. I may go bi-weekly and add a second issue soon to touch on the personal side of money and budgets.

Remember to email me judycents@moneytracker.com with any tips, resources or comments you would like to share as well as any questions. Working together is how we can all make a difference in our financial lives.

I am offering a complimentary 30 minute coaching session with me.

I would love to hear how you are doing and help in anyway I can. For your free session, email me with 'Time Slot Request' in the subject area.

Have a fulfilling and prosperous day!

To Your Success,

Judy Lawrence
Personal Budget Coach
Best-selling Author, The Budget Kit, 4th Edition
judycents@moneytracker.com
http://www.moneytracker.com

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Featured Tips or Information "Budgeting for a Vacation
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Summer is finally here and for many of us, summer
is the time for traveling. As I write this I'm
preparing for my own trip to the beautiful lakes of
Northern Wisconsin for the 4th of July. Now if only
Wisconsin lake country could exist without mosquitoes
and lake flys!

Did you ever wonder how much Americans spend on
average for vacations?

Let's take a look at a few figures from Myvesta.org
and the Bureau of Economic Analysis to see how
Americans are spending their vacation dollars.

->Last summer nearly 50 percent of Americans planned
to take a vacation.
->The average weekly summer vacation cost $2700.
->To earn that amount of money for a weeks worth of fun,
you will need to work 22 working days (one whole month!).
->The good news is that according to a report last summer,
Americans savings went up from zero percent to 3.7 percent
of their income. Hopefully more people are saving for
their vacations.
->The bad news is that 78% of travelers will charge all
their travel expenses.

Okay, so now it's time to think about planning and expenses.
Do you really want to be working that many days to pay for
overpriced items like bottled water, sun tan lotion, film,
aspirin, hair products, hats and swimsuits because of poor
planning? Or would you rather be applying that vacation
money to all the great sights, meals, events and unusual
experiences?

Before you go...
->Start a creative savings approach (Some people like the
big jug approach where everyone dumps their pocket change.
Others like to save all their $5 bills they get in change.
Start early and have fun with unique ideas)

->Plan out as much detailed expense as you can ahead of time
(gas, airfare, shuttles, taxis, lodging, meals, entrance fee,
entertainment, souvenirs, shopping, equipment rentals, arcades,
tips,and more) so you know how much the trip will cost.

->Keep shopping for more travel bargains before you leave.

->Now add another 15% to that total you estimated.

->Work out a plan for financing the trip (savings, extra part
time work hours, bonus or refund money, yard sale)

->Find out your current balance on the credit cards and vow
to not increase that balance.

->Don't be tempted to use your credit card for unplanned
and unnecessary expenses. What's the point of finding
hotel bargains if the savings is eaten up with drawn out
finance charges?

->Be very aware of the finance charge for cash advances
on your credit card and don't use it. Use only your ATM
card and the terminals with no fees or the lowest fees.

-> Keeps things simple. When traveling carry one credit
card, a debit card and enough cash for a few days. You'll
have less to protect and it'll be easier to monitor your
spending. Carry a backup card in a separate place from
the rest of your cards.

-> Travel with a cooler so you're not purchasing drinks and
snacks at every rest stop.

->Rent a house, condo or efficiency, a friend's unused
timeshare, or use a home exchange, so you can prepare more
meals.

->Relax and have fun.

As you plan for this summer's vacation, make the decision
to return with a scrapbook of enjoyable memories instead of
a credit card balance full of years of payments and finance
expense.

Have a great summer vacation!

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Your Question for the Day
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Will this impulsively purchased souvenir seem just as cool when it's back at home, or will it end up at a yard sale next year? Was it worth the price?

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Special Offers for the Month
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FREE 'Budgeting Without Tears' e-Course

If you haven't already, sign up for my f.ree e-course 'Budgeting Without Tears'.

You will receive a series of educational tips to help you get your finances in order and your budget plan started. Granted, you will not be supplied with all the worksheets, road maps and formulas that you get in The Budget Kit, but this will provide you with additional information that will prove to be very useful in getting started!

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Resources
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Use this calculator to determine how long it will take to
pay off your travel debt.
http://www.bankrate.com/brm/calc/creditcardpay.asp

An interesting site for international travel and handling
money.
http://www.hobotraveler.com/moneymanagement.shtml

Another site for the budget traveler who
doesn't want to pay 5 star prices.
http://www.budgettravel.com/

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Books by Judy Lawrence
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Feel free to visit my Money Tracker website to learn more:

http://www.moneytracker.com/books.htm

The Budget Kit:Common Cents Money Management Workbook
The Money Tracker: Find the CASH to Get What You REALLY Want
Daily Riches: A Journal of Gratitude and Awareness
The Family Memory Book: Highlights of Our Times Together

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General, Contact & Unsubscribe Info
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