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Because of today’s economy, many people are looking for ways to save what
little money they have. Many people across the nation are just not ready financially for the years ahead. Thousands of people have lost their jobs and thousands more job cuts are expected before the end of the year. We all find it hard to think about our savings when we’re faced with paying bills every month. However, taking small steps to improve the health of your savings can help you be ready for the next economic downfall, your retirement or unexpected emergencies.
Here are some tips and advice that will help you stretch your budget and start saving:
· Small steps make a big difference – Many experts say you should save 10-15% of each paycheck and other income. But let’s be realistic. It’s almost impossible to save that kind of money and pay your monthly bills, too. So, if that’s not possible for you, then save less. Something is better than nothing. Choose an amount that won’t bust your budget. Whether you choose $50 or $100 a month, make sure you pay yourself out of each paycheck until you have that amount. Each time you save $100, go out and buy a savings bond. Savings bonds accumulate value usually after five years. So, you’re actually making more money. You can also invest your money in several other ways. A money market account will help your money add up and you can withdraw it if an emergency arises and you really need it.
· Lose the loans – If you have student loans, a car loan or credit card debt, pay a little extra on each one until they are paid off. Credit cards can be our biggest enemy, but we all need them to have any credit at all. So cut up all your credit cards except the one with the lowest interest rate. Then, try not to pay for anything with it that you can’t pay for in full on your next bill.
· Compare – If you don’t have a credit card and are looking to get one, shop around for the better value. Credit card rates vary with each company. If you take advantage of introductory low offers, remember to make your payments on time and in full. Those rates will go up dramatically when the introductory time is up and you’ll find yourself paying much more than you should. If you already have a credit card, call the card company and ask them to lower your interest rate. You’ll be surprised at how many will lower your rate so you can make your payments.
· Use your job – If your place of employment offers a 401k plan, take advantage of it. Contribute the amount your company will match or less. Many companies will often contribute up to 50 cents on the dollar. Here’s an example: if you contribute $100 a month, you make $50. If you contribute $1,200 a year, you make $600. That can add up to very big savings for your retirement.
· Put it away – After paying your bills each month, you may have a little left over. Put that directly into your savings account immediately. Even if it’s only $10. Every penny counts when saving.
· Never give up – Everyone has unexpected expenses that come up. These can be doctor bills, hospital bills, home repairs, car repairs, appliance repairs and more. You may have to take some of your savings out to help pay for these items, but don’t let that discourage you. Consistently applying these basic tips will help you have a savings that you can depend on over time. When your savings begins to grow dramatically, consult a financial advisor to learn how to get the highest return on your money.
Although Tula ’s housing market will drop at least 1.1% by the end of the year before it begins its recovery process, the city still tied with Houston for the Nation’s sixth best performing housing market during a recession. Yeah, Tulsa !
Because Tulsa has had a low home value growth since 2004, going from an average of $100,000 to $130,000, home values don’t have nearly as far to fall when compared to housing markets that have skyrocketed over the past few years.
Since the downfall of the housing market, renters have seen an increase of 7.4% in the rent they pay. One bedroom units are now at $481.00 and two bedroom units are at $660.00. Both are the highest prices Tulsa has ever seen.
Typically rent only rises when the local economy is good and jobs are being added. However, because of last year’s frustrations with the housing market, more people turned to renting, raising rent prices.
Even in today’s economy, it pays to own a home. Homeownership is one of the best ways to invest your money; especially long-term homeownership. The longer you own your home without refinancing it, the more equity you will have in it. When you sell your home, that is more money in your pocket. Even if you decide to sell during a buyer’s market and have to lower your selling price, you will still have a nice chunk of change in your pocket.
Since the early 90’s (until recently), the average homeowner lived in their home for 5 years before selling it. That was possible then. Home values were on the rise and you could easily make $20,000 or more in that short period of time. Now, most homeowners who try to sell their homes in five years can’t sell their home for what they paid for it because of the drop in home values.
So, all-in-all, it truly pays to own a home when you own for long-term. And, now is the best time to buy and get a great deal on the home of your dreams.
The City of Tulsa is looking for ways to bring people together in the Evan
s-Fintube industrial area near downtown. And designers brought in by a grant the city won are already bringing their ideas forward to transform the Evans-Fintube industrial area into a signature gathering place for arts and culture.
Designers gathered in City Hall to discuss the proposed area that borders U.S. 75, Interstate 244, and Oklahoma State University . Transforming the area into an arts and culture section will be challenging, but it can be done. Many residents think it’s the perfect site for gathering.
The city currently owns 20 acres of the 40-acre industrial area. There are two large industrial buildings that are very unique in architectural design. Their condition is poor at the moment. However, the two properties will be redeveloped and made into landmarks.
Once the properties are redeveloped, they could be used to house nonprofit, cultural agencies, a community theater, eateries, performing arts schools, other art and cultural venues, and produce sales from local farms and gardens. Designers are suggesting to open up the buildings more, creating clear passageways and natural lighting.
Designers are proposing the redesigning of the landscaping to enhance the area and adding a park. Both will give the site a more welcoming feel, making it a lovely place for people to gather.
Designers are also seeking to add a variety of transportation pathways for pedestrian and bicycle use and an amphitheater that faces the Tulsa skyline. There is even talk about bringing the downtown rail system onto the site in the future.
Revitalization is another vital piece to downtown Tulsa . Many of the designs are great and will help bring a close community even closer.
Tulsa, Oklahoma Community Information
In tough economic times, most cities slow their development until the economy picks back up. But Sand Springs is one city that’s betting on the future and moving forward on a multi-million dollar project with absolutely no plans for cutbacks. The city is aggressively seeking retail outlets and restaurants for River City Crossing.
River City Crossing is located at Morrow Road and Highway 97 near the Arkansas River . Usually, an anchor tenant comes in first; but the city is doing something very different. It’s developing the property before the anchor tenant. Although this area’s anchor store will be Lowes, it’s not coming until 2011.
The area around River City Crossing has had the most growth in Sand Springs and sees the most traffic. So, the new property will be considered a hot spot for restaurants and retailers. Developers are also planning on moving an early childhood development center that currently sits on the property into a new building that will accommodate more children. It’s a win for the kids, public, and community.
Anyone looking to buy a home in one of Tulsa ’s suburbs can find Sand Springs along the Arkansas River, nestled in the hills of Tulsa County . Sand Springs is a lively city that offers its residents a great way of life and an abundance of activities. Neighborhoods in Sand Springs offer tree-lined streets, parks and trail systems that are well maintained. And the city has great schools, both public and private.
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