Author: Joel Hilton

When people think of visiting popular overseas destinations like London, Paris or Japan, they're often concerned with extravagant hotels, overpriced food and costly flights. However, a big trip doesn't have to bring big expenditures. In fact, with a little planning and some self-discipline, traveling abroad on a budget can be relatively simple. Economical Travel One of the easiest ways to save is by going during the off-season. In Europe, for example, this is between October and April. Flights are usually cheaper, as are hotels, restaurants and fuel. Don't just take the first flight that fits your departure and return dates…

Buying your first home can be intimidating. After all, making the leap from renting to ownership should not be taken lightly. However, with proper preparation and planning, you'll find it's not as scary as it seems. Here are six tips for first-time homebuyers. 1. Make Sure You're Ready Before purchasing a house, you'll need to be willing to plant some roots. It takes time to build equity and experts suggest staying in a home for at least five to seven years to make it worth the investment. Plus, selling isn't as easy as not renewing the lease on your apartment.…

Take a moment to think about every device you have plugged in at home. Now consider how many of those actually need to be. The truth is, most electronics don't always have to be attached to outlets. In fact, many of these perpetually plugged-in gadgets still use power when they're turned off, costing you money you didn't even know you were spending. What Is the Standby Power Price Tag? The average household routinely leaves around 40 appliances plugged in 24 hours a day. The U.S. Department of Energy has estimated that standby power -- also known as leaking electricity, phantom…

With spring around the corner, many homeowners start thinking about the improvements they've been putting off all winter. If your to-do list is long, but your cashflow is short, you might want to consider a home equity line of credit, also known as a HELOC. These loans give you access to the value you've worked so hard to build and they provide the flexibility you need to make your projects a reality. Many people don't take advantage of their equity until it's time to sell. With a HELOC, you can borrow up to 100% of your home's value, minus your…

We all know it is better to give than to receive. And, of course, the point of giving to a worthwhile cause is not expecting anything in return. Nevertheless, there are financial benefits to charitable contributions when you file your taxes. Here are a few tips & guidelines regarding taxes and charity. What Is Deductible? The IRS doesn't allow deductions for funds given to specific individuals or families. Meaning, if you give a friend in need some money to help them pay for a medical issue, it doesn't apply. The contribution has to be to a qualified organization, such as…

St. Valentine’s Day can be a divisive holiday. On one hand, there are couples who have already set up a wedding savings account and love Cupid, flowers, chocolates and romance. On the other hand, there are people who are single and on a budget -- who want to mark the occasion, but won’t be spending money on extravagant dates or giant teddy bears. If you’re in the latter group, here are a few ways to enjoy February 14 without breaking any hearts or the bank. For the Single Ladies To celebrate girl power and your love for all of your…

Have you ever taken a break from spending money? If so, for how long? One or two days? Three? What if we told you that it's possible to not spend money for an entire week? Of course, everyone's financial situation is different, but if you're up for the challenge, here's how to complete your seven-day spending freeze. Prepare First, choose your starting date and mark it on your calendar. If you don't know what your weekly budget is, track your spending for a few weeks beforehand. This will give you an idea of how much you can save and it…

Are you preparing to become a stay-at-home parent, dealing with a recent layoff or saving up for a big purchase? Even though it may sound impossible, you can live on only one income and make it work. Whether you're single or married, have children or not, these three simple ideas are essential: create a plan, spend less and save more. Before you think that sounds too easy, let's break down the specifics: Create a Plan Successful single-income families don't just happen -- they require a strategic evaluation. First, create a realistic budget to better manage your money and stick to…