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Archive for April, 2009

During these tough economic times, more families need to economize and save. But cutting back everywhere isn’t always the best course.

Sure you’re cutting back to save money,but you and your family have to eat, house yourselves and stay healthy.

But once you’ve taken care of the essentials, financial experts say there are additional areas that require real investment, whether you are spending time or money.

The Wall Street Journal recently rounded up six places it pays to spend more cash, not less.

In a nutshell, the WSJ suggests it’s worth your money to:

1. Pay for expert advice.
2. Pay to bring down debt.
3. Pay yourself.
4. Pay for little indulgences.
5. Pay for some things you could do yourself.
6. Comparison shop.

Tips like paying for a little indulgences may sound a bit condescending, but even they can pay off big-time in the long run:

Indulging in the occasional guilty pleasure—a $4 latte, for example—can be a good idea when times are lean, says Erica Sandberg, author of “Expecting Money: The Essential Financial Plan for New and Growing Families.”

“It’s a very dreary existence when you cut down your expenses to an absolute skeletal budget,” Ms. Sandberg says. “If you do that too long, it’s like a diet, and you are going to raid the refrigerator.”

Be sure to take some time out to read WSJ article [Scrimp to Save More Than Money – via Consumerist] for a more in-dept explanation behind each expense – and while we’re on the topic to “Saving or Spending money” we’d love to hear what expenses you think are worth paying for in the midst of this global recession. Let’s hear what you’re to say in the comment.

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In a world where out-of-hand credit led to one the worst financial crisis ever experienced by the global village.

This is the same out-of-hand credit is presently taking the Caribbean by storm, banks in the Caribbean who were once very reluctant in issuing credit cards likewise debit card to just anyone – nowadays anyone with a job is pre-approved for one of these cards.

The fact of the matter is, almost 75% of the people who apply for these credit, debit or charge cards have no clue how these cards work and then after a couple of years find themselves in a debt – trying desperately to keep up with the minimum payments. It’s time for a little personal finance 101.

One of my favorite personal finance weblog ‘The Simple Dollar’ take a beginner’s look at the pros and cons of three kinds of plastic: charge cards, debit cards, and credit cards – explaining the differences between each, including the advantages and disadvantage of each payment method. For example:

Charge cards are often confused with credit cards, but they actually function in a fairly different fashion. Like credit cards, charge cards extend credit to you from the issuer, but you’re required to pay the full balance at the end of the month. Some charge cards also have an annual membership fee. Charge cards are typically associated with American Express; many store chains often issue their own charge cards as well which can only be used at that store.

To be honest, I’ve always assumed charge cards were the same as credit cards, but then I may be behind the curve on this one, and so might be a lots of people. The point of this post is to make people understand each of these cards might work better than another for specific types of purchases, so knowing which to use in any given situation is important. Click the link above to read more about these charge cards and how you can protect yourself.

If you use more that one type of plastic, let’s hear how you divide up your spending among them in the comments.

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Dominica ecofest 2009

May 1st to May 8th 2009 : International EcoFest, Rosalie, Dominica

The Dominica International Ecofest 2009 celebrates the need for action to preserve our earth, and is aiming to showcase the inspiring environmental awareness here in Dominica.

EcoFest also examines whether or not the progress mankind has made is worthy of celebration.

The International EcoFest to be held at Rosalie Forest Eco Lodge, Dominica, between May 1st and 8th 2009, under the theme ‘A celebration of the world’s progress on saving our beautiful planet.’

The event is being held in collaboration with/the participation of The EcoClub, The International ecotourism Society, The Sustainable Living Initiative Centre, (SLIC) Dominica, Responsible Travel, and Eco-Tropical resorts, the Biogas helpline, as well as the Environmental Coordinating Unit of The Government of Dominica, and others.

Eco-fest 2009 will showcase a wide array of local music, with a different kind of local band playing each day ranging from Calypso, to Jin Ping, to Reggae to Steelpan. The festival will also host a mini Eco conference, covering a wide range of sustainability issues, guest speakers, Eco trade show, and local craft workshop.

One of the main highlights of the festival is a workshop on BioGas – learn how to do it; meet the experts – where the organizers of the ecofest will be installing a Biogas plant on site during the week long event,in collaboration with the BioGas helpline.

For more information about vailable accomodation, special packages, how to participate, trade shows and much more information visit the Rosalieforst Ecofest 2009 Web Page or you can e-mail them at [email protected] or visit this Contact Us page for more details.

Get your tickets before March 31st, get 25% discount

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