Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
Summer isn’t that far away. One thing we have to look forward to is the yearly summer vacation. White sandy beaches and tropical weather sounds like a dream and to many, it might just be.
The average cost of vacation for a family of four is $4,000. That’s a large sum to spend on a trip and not everyone can afford the expense.
Vacations seem to get more lavish every year, but you don’t have to spend an arm and a leg just to have a nice family vacation. It’s entirely possible to vacation on a budget and still have an amazing time.
Here are 5 vacations hacks you need to know for your next trip:
A popular trend in the health community is cleansing – setting aside a week to 30-days dedicated to reigning in bad eating habits, losing weight, finding energy, or maybe just feeling better. Cleanses can help people reach short-term health goals faster, change their eating habits, and find new motivation to turn short-term discipline into a long-term lifestyle.
Imagine what could be done if more people applied this concept to purging out the bad things “feeding” their finances – a financial cleanse, if you will. Setting aside time to focus on money habits can make a huge impact on short-term financial health and provide just the motivation to kick bad habits, get your finances in order, and keep them that way. Here are a few tips you might want to try if you’re considering taking a summer financial cleanse. [ continue reading… ]
The cost of even a small repair makes car insurance nice to have. When we start adding in the medical expenses that can go with a car accident, insurance becomes downright necessary. In many states, insurance is even a legal requirement before you can drive your car out on the road.
But a wide variety of options are available when it comes to insurance—there are actually seven different types of car insurance you can choose from—and it can be difficult to decide just what type of auto insurance is the best choice for you, your vehicle and your budget. Here is a list of the seven types and what you need to know about each one.
There are dozens of choices when it comes to budget plans. If you’re still looking, or are completely new to the concept of budgeting, let me re-introduce you to an age-old budgeting guideline: the 50/20/30 rule. Even though it’s a classic, it bears a fresh look, especially through the lens of the modern American’s financial outlook.
Three Categories and What They Contain
The 50/20/30 rule splits up take-home pay into three large spending categories — fixed costs, financial goals, and flexible spending. Here’s a list of what each contains.
Fixed Costs (50%) – These are the expenses most vital to your survival, which don’t vary from month to month: mortgage, rent, vehicle payment and utilities. Some versions also include non-essential monthly subscriptions, since they require a monthly commitment and the amount doesn’t vary unless you choose to discontinue them.
Financial Goals (20%) – This category includes any monthly payments and contributions toward improved financial health: 401K and other retirement accounts (from post-taxed income), extra payments on credit card debt or student loans, building an emergency fund, and savings goals such as a down payment for a home or funding an education.
Flexible Spending (30%) – This category includes expenses that vary from month to month: groceries, gas, eating out, shopping, hobbies and entertainment.
Getting an annual raise or a promotion that comes with a higher salary is a great feeling. It makes you feel appreciated for what you do, and, if your finances were tight, it brings a sigh of relief.
What’s the first thing people tend to think of immediately after a raise? What to do with the extra income, of course, and usually, where to spend that sum. It’s not the immediate reward that’s the biggest problem though. Going out to a nice restaurant, taking the weekend away, or even purchasing an item you’ve had your eyes on for a while (assuming it isn’t a Lamborghini) is nothing to feel guilty about.
It’s when a little extra monthly income turns into an excuse for lifestyle creep (also called lifestyle inflation) that you need to really guard against. [ continue reading… ]
When we see a great deal, we are inclined to think that we are “saving money.” Some store receipts even help with this illusion by giving you a total of your “savings” at the bottom, so you can see what a savvy shopper you are.
However, in many cases, you might just be overspending when you think you are getting a good deal. Here are 3 ways you could be spending more than you should — even while thinking that great “deal” is “saving” you money: [ continue reading… ]
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