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OVLG Blog

17
June
2015
money-mistakes

This post has been shared by Amy Nickson.

Financial mistakes are very common things. There are many people who suffered a lot due to some fatal money mistakes they did in their life. Remember, mistakes are mistakes. No matter how old are you, how rich are you, even what position you’re holding in your professional life. During my childhood I wondered, “ I’m so lucky to have a super dad in my life.” How magically he can solve each and every problem. It may be financial or other issues. But, as I grew up and in my work as a financial writer, I can easily identify some vital financial mistakes which not only you, your partner, relative, even parent shouldn’t repeat it.

In this article, I’m going to describe some hazardous money mistakes that are quite popular and most parents especially fathers are oblivious of this. And for this, most of our parents are suffering with their distressed financial state.

Dad’s money mistake you should avoid politely

Mistakes are quite obvious. It can take you to any place. So, don’t think you’re right in your every financial decision and your father was ignorant with this matter. Overconfidence can dig a big hole in your financial future. Remember, your father is the first person who had given you the first pocket money to spend. He was the bread earner of your family. You should respect and learn his accuracy, knowledge and most importantly his experience. So, follow your father’s every valuable and wise decision instead of some mistakes which are quite common at their time.

1. Hiding cash under the mattress

If you have enough money and you have the habit of hiding it under your mattress, you’re actually wasting the money. Money must always be kept in a bank or a financial institution so that it can grow with time and you can use in the future. It is one of the biggest blunder which our past generation has followed but you must not repeat in your life.

2. Making late payments

You need to be careful that, late payments and penalty fees can take a toll on your finances in the future. Missing your payments is a guaranteed way to destroy credit report and hurt your score. It’s better to take steps to make timely payments than falling into massive debt traps.

3. Borrowing from a retirement fund

There are so many people who had committed this mistake and suffered severely in their post retired life. It’s a very easy and tempting option to borrow money from a retirement account to survive, when you’ve less money in your hand. But doing this, you’re actually ruining your post retired life when you’ve no other source of money. Moreover, If you do this, not only will you remove your pre-tax money, but also you have to repay it with after-tax earnings. Though, borrowing from your 401(k) is the best way to get easy access to cash, but this is one of the biggest mistake that can destroy your financial future.

4. Not giving the money lessons to kids

In today’s economy money plays a very significant role in everyone’s life. As I have told in introductory lines, that no matter how much bank balance you have or how much property you’ve inherited. You should have sound knowledge about finance in order to tackle it properly in your life. Otherwise, you may fall into serious financial problems. It may come to you as credit card debts, unemployment, rejection of loan, rent, insurance, mortgage application, so on. So, don’t repeat your dad’s mistake. They thought a kid should stay away from money. Because, it may make them bad, can create a stress on them. All are wrong statements. Only a father can teach a child the basic financial lessons to make financially educated.

5. Closing existing lines of credit

Some vital financial lessons such as closing accounts all of a sudden or having many credit cards can affect vital impact on your financial life. So, if a father made such a vital mistake, then the kids may follow the same. You may come across stories of credit counselors or financial consultants telling you to close down your existing lines of credit to boost your credit score. But this is a myth as you must never close your credit card accounts that has balance in it. Pay down the entire balance and then send a letter to the company requesting them to close your account.

Final words

Every person has their own perception. So, no doubt your father is best in his own terms. But, It’s advisable that when you’re making some financial decisions, then you need to make the decision more carefully. Otherwise, your one single mistake can cost you badly. If you follow your father’s financial perceptions blindly you may face problems in the recent economy as well. As, both of you belong to a different economy. So, be very careful when you’re investing money or obtaining loans or insurance or simply closing some of your credit card accounts. Because, mistakes are small but the outcome can be devastating.

OVLG Blog

21
May
2015
memorial-day-celebrations

On this Memorial Day, veterans and fallen heroes would be honored in the nation’s capital. Here’s the itinerary of the celebration:

  1. No Memorial Day in DC is complete without mentioning the National Memorial Day Parade. Started on since 2005, the parade is largest of its kind in the U.S. is put up by the American Veterans Center in honor of those servicemen and servicewomen who put their lives on the line of duty to protect our liberty. The event is to be on Constitution Avenue, it wows audiences that are more than 250,000 strong with active duty, retired military units and marching bands, youth groups, floats and scores of veterans. This year the parade is scheduled for Monday, 25th May, and would start at 2 p.m.
  2. Arlington National Cemetery hosts a variety of events to celebrate Memorial Day. If you want to be a part of its celebrations, then head to the Memorial Amphitheater at 11 a.m. on Monday, May 26th. An official Memorial Day service will be held, sponsored by the U.S. Army Military District of Washington. Moreover, over a quarter million mini flags will be used to decorate the cemetery's headstones. For a better and more powerful tribute, you may head to the Tomb of the Unknowns. It is guarded by Tomb Guard Sentinels 24 hours a day, 365 days out of the year. Hold on their for while and you’ll witness the impressive Changing of the Guard ceremony, which is conducted every half-hour until the cemetery closes at 7 p.m. At 4 p.m. The Women in Military Service for America Memorial, that is situated at the gateway to Arlington National Cemetery, will conduct a ceremony. The ceremony includes formal military honors, wreath-layings, a keynote address and the signature event of the Memorial, the scattering of rose petals, a mark of tribute to the departed soldiers.
  3. A company of hogs throng the streets of DC each Memorial Day weekend for the Rolling Thunder Motorcycle Rally. This “ride for freedom” attracts more than 900,000 motorcycle riders from all over the country who travel to honor POWs and MIAs. Besides, the riding rally being held on Sunday, May 24th, one of the main crowd-puller each year, there are other Rolling Thunder events on the anvil, too: a candlelight vigil is scheduled to be held on Friday, May 22; apart from that, a wreath-laying ceremony will be held too at the U.S. Navy Memorial on Saturday, May 23; and lastly, on Sunday evening, you can look forward to the Rolling Thunder’s Saluting Our Troops - a concert to be held near the Vietnam War Memorial.
  4. On Memorial Day eve, the West Lawn of the U.S. Capitol undergoes a sea of change and is transformed into a patriotic concert venue. A free performance is put up to pay tribute to those who have served our country, and with a part of the evening being dedicated to honor our current active service members. This event will be one out of many opportunities for you to recognize and catch a glimpse of the active servicewoman or serviceman of our nation. As far as the concert is concerned, it will be co-hosted this year by Emmy Award-winner Gary Sinise and Tony Award-winner Joe Mantegna. These two actors who have taken on veterans causes in recent years, and their event is featured at the National Symphony Orchestra.
  5. You can stroll the National Mall this Memorial Day which is considered a must-do. To begin with, you can honor the most famous war general in U.S. history by visiting the Washington Monument. There, you can pay your deepest respects at the National World War II Memorial, created and dedicated in 2004. The memorium is etched with 58,621 soldiers’ names, while the Vietnam Veterans Memorial was the brainchild of Maya Ying Lin, a 21 year-old architecture student at Yale in 1981. Next in your travel itinerary you can include a trek to the Lincoln Memorial to read one of the most powerful and widely-known speeches on sacrifice: the Gettysburg Address. A stone’s throw away is the Korean War Veterans Memorial that provides a unique empathetic experience with its 19 life-like, poncho-clad soldier statues.
  6. The DC War Memorial is a unique hidden gem on the National Mall. The domed structure was built in honor of the 26,000 Washington, DC residents who served during the World War I. The memorial was in a dilapidated state and was restored in 2011 thanks in part to Frank Buckles, the lone surviving American World War I veteran. The structure features Roman-style architecture with sturdy columns, and was originally dedicated in 1931 by then President Herbert Hoover. You’ll notice the almost all the 500 names that are engraved at the base of the memorial
  7. Not too far from the walls of Arlington National Cemetery, there is a permanent installation of one of the most iconic photographs of World War II: Raising the Flag on Iowa Jima. The Marine Corps War Memorial (better known as the Iwo Jima Memorial) was built as an homage to all marines who have died defending the U.S. since 1775. This scene was originally made public in 1951 and provides a sweeping view of the DC skyline.

OVLG Blog

18
May
2015
be-dollarwise-on-memorial-day

Memorial Day is approaching. And the best part is, no other event will much popular in summer than this Day. Because, Memorial Day is very popular for shopping, having good foods with friends and guests and having summer fun. This is such an event when millions of people will hit the store to buy appliance, gadgets. They will even hit hotels to have good foods or have some fun. But all these fun can cost you big if you haven't yet finalise your budget and schedule the necessary expenditure for the event.

9 Ways to curb extra expenses to save dollar

You may be thinking to host a barbecue party on this Memorial Day or, a nice get together party on a good hotel, or just want to shop some items, whatever it is, you need to do a lot of pre planning. Thus, you can have fun and save some dollar as well. Here are some easy ways to save dollar on the big day.

1. Consider dollar store to shop

For throwing a party, you need some basic items like paper plates, plastic cutlery so on. And no option is best than dollar store to get those items. Yes, you can easily get all the items spending less money there. So, choosing supermarket to buy things will be your biggest blunder and can cost you big.

2. Buy in bulk

You need to buy in bulk according to the number of guest and menu. So try to buy in bulk (meat, vegetables, other necessary things). You can get big discounts on bulk items so it will be always a win win deal.

3. Find the butcher shop to buy meat

Especially for a barbecue party you need lot of meat. And you can save more money by considering a butcher shop instead of prepared packets available on supermarket. You can also get chicken breast or meat in large slabs in a butcher shop. So, no need to spend extra dollar when you can save up to 60% to avoid prepared meat.

4. Plan the menu beforehand

Don't leave all the task for last moment. It seems that, most of time, last minute rush can be a big pocket burner. If you plan the menu according to the number of guest, plan the recipe and shop accordingly, then you can always get the time to get things with right price.

5. Choose the self cooking option

There are ample of websites where you can get easy and delicious recipes. So why don’t you give yourself a chance? You may cook some delicious food and impress your guest as well. Always try to make your own salad, marinade, dressing. You have all the required ingredients (necessary herbs, olive oil, vinegar, spices, sauce, lime so on) at your home. So, don’t waste your money on costly packaged foods any more. You can even bake cookies, cupcakes, cakes of your own.

6. Try to get boxed wine

Don’t spend money on bottled wine when you can easily get boxed wine for your guests. Boxed wine is much affordable than bottled wine and can easily served.

7. Ask your guest to bring side dishes

If you’re planning a big party, then you can ask the guest to bring side dishes. Plan only the main dishes and other required things for a party.

8. Get discounts and special coupons

Special Memorial Day discounts and coupons are available these days. So, take a close look on Internet and save big on television, furniture, kitchen appliance, apparel so on! You can get even promo codes on departmental stores.

9. Don’t forget to redeem credit card rewards

Try to buy the grocery items on the same store where you shop on regular basis. Thus, you can get reward points on your credit cards. Try to redeem the credit card. So that you can get the discounts on your purchase. Make sure you use the points for cash back to your bank account. Or, try to exchange the gift card and get the one which you can use for Memorial Day shopping as well. Don’t miss the discounts on gas station too.

Final words

Lastly, make sure that you don’t spend money extravagantly. Because incurring holiday debts can hurt your credit score and will take big time to paid off. So, try to plan beforehand so when the Memorial Day weekend arrives you’ll be able to attend the events in your own joyful way without having any financial worry.

OVLG Blog

12
May
2015

Eight years ago, OVLG was launched with the dream of protecting consumers' rights and strengthening their financial house. That dream has been fulfilled but only partially. So, in the next 8 years, we'll work harder to achieve our dreams and aspirations. Just be there and wish us good luck. Hopefully, we'll be able to save financial lives of many more people. OVLG completes 8 years successfully

OVLG Blog

29
April
2015
mother's-day-gifts

Finding the perfect gift for mom on Mother’s Day is super-exciting - but it is tough as well. You don’t know which gift will be perfect for your mom.

I have created a list of gift ideas that are budget-friendly and interesting as well. Your job will be to pick ones that your mom would love to have in her kitty.

Budget-friendly gifts for your mom

Here’s my list of 10 budget-friendly gifts that will your mom’s heart and bring a smile on her lips.

  1. Stylish smartphone case - This gift is just perfect for all kinds of moms. Your mom will surely love to a have a smartphone case that will give extra battery life. An iPhone 6 battery case will cost you around $69.95.

  2. Mini stone massage kit - Oh! This is a sheer treat at only $11. Your mom will love you even more for it. Typically, a mini stone massage kit will contain shea butter balm and massage stones. If your mom hasn’t used a massage kit before, then Mother’s Day is the perfect time to present this gift. She can read the instructions given in the kit and then use this scented kit.

  3. Personalized heart clock: This gift gives you the opportunity to express your true feelings to your adorable mom. You can write a special message for you mom and engrave in this heart shaped clock. Whenever, your mom will look at this clock to check out time, she will remember you.
  4. This gift typically costs $39.95 and will be shipped to you within 1-2 days.

  5. A wallet to keep everything - This is a very useful gift since your mom can use it everyday. Select a wallet wherein she can keep her smartphone, credit cards, cash and every other thing without occupying a huge space.
  6. A typical clutch wallet may come within $13.72.

  7. Customized keepsake award: She can be the best mom of the world. But does she knows about it? If not, then gift her a customized keepsake award. You can engrave a sweet message in the award. Something like, “Thank you for being the best mom of the world”. You can even engrave her special qualities in that award.

Homemade gifts for your mom

Best gifts for your mothers actually comes from your heart and not necessarily wallet. So, if you really want to give a personal touch to the gift, then make one yourself.

  1. “20 Things I love about you mom” Jar: Oh! This is a complete lovey-dovey gift. Anyone can make it. Just take 20 pieces of papers and scribble special qualities of your mom in them. Put your love into words and touch your mom’s heart.
  2. A complete makeover of her room: Sometimes, you can totally change the look of her room by re-arranging furnitures and organizing all the items properly. You won’t even have to spend a penny. All you need to have is a refined taste.
  3. Three meals for the special day: Your mom cooks for 365 days. This Mother’s Day, treat her with homemade breakfast, lunch and dinner. Make sure you cook those dishes which are your mom’s favorite. And please, clean the kitchen once cooking is done. Don’t leave the hard task for her.

Expensive gifts for your mom

If budget is not a matter for you, then you’ve plenty of options. I have selected 2 for you:

  1. Massage cushion: Your mom has worked hard throughout her life. It’s time she gets some relaxation and break. Buy a massage cushion for her. She can use it while driving or watching TV.
  2. A smartphone: Give her a nice smartphone this year if she doesn’t have one. You can buy a Google Nexus 5 or a iPhone 5 and gift it to her. The whole world will come at her fingertips and she will love you even more for it.

Best gift for your mom

No matter what list I make, there’s no doubt that the best gift is Time. You know why? That’s because nobody has time nowadays. It’s the most precious gift you can give anyone, especially your mom. You may not need her now that you’re all grown up. But never forget that she was the only person who gave up her sleep at night just to play with you. Spend some time with her. Take her to a nice restaurant and share a meal together. Make her feel special. Make her feel that she is a very special person in your life. Just do this much and see the smile she gives you in return. I promise it will be enough to bring ‘happy tears’ in your eyes.

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