For those of us who travel infrequently, taking a flight can be a budget minefield. It’s not just the constantly rising price of airline tickets, either.
If you don’t plan ahead the next time you fly to Aunt Sylvia’s for the holidays, you may find that the associated costs of flying — from checked luggage to parking to food — may just put a big hole in your travel budget.
Here are the ways frequent flyers keep their costs low:
Most of us know that one of the most important steps to build wealth over the long term is to invest our money, but the idea of investing, for many, is scary. The memories of the last financial crisis may finally be starting to fade, and anyone who remembers that time can tell you of someone they know who had their entire retirement accounts chopped in half. In fact, it was so painful people started calling their 401ks 201ks. Many people had to put off retirement because of the decline, and that’s if they are lucky to still have a job.
While stock market valuations are much higher now, some people are still concerned about what could be coming next. The economy may be doing better, but the headlines are as scary as ever. War, brexit, and the Fed raising interest rates too fast all seem to be just around the corner. In these types of conditions, it’s hard to remain calm when it comes to your money.
Before you panic, though, it’s a good idea to step back. Often, the solution is not to unceremoniously dump your investments, especially stocks. It’s better to have a measured response to the issue. Here are a few things you can do to in order to help you remain calm when you aren’t sure about the market:
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Cable companies are a supreme example of a natural monopoly. They’re the easiest example for economics professors to use, because, due to structural conditions, only a few competitors can exist in any cable market. Often, there is only one option that consumers can choose. The consumer has no leverage and is thus at the mercy of the cable company.
Over the years, the price of cable has increased significantly. Luckily, other forms of technology and media have grown as well, leading to a shift in favor of the consumer.
If your cable bill is too high, you now have options.
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There are a number of unscrupulous types out there, waiting to take your hard earned money. One of the most common ways criminals try and scam you is to “phish” for your information. In these types of scams, you are asked to reveal personal financial information. This information can then be used to commit identity fraud — and can cost you in time and in money.
Consumer Reports Money Adviser has issued a warning about three different scams that have been circulating recently. While the affected areas, so far, are rather small, you never know when something will spread. Here are some scams to be aware of:
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For many people, it can be difficult to imagine living without a checking account. But it’s the reality for the roughly 8% of Americans who are living “unbanked,” meaning they have no bank account whatsoever. In addition, a total of 28.3% of Americans are either unbanked or underbanked, which means they rely on alternatives to banks for financial services like check cashing.
Unfortunately, living without a checking account is costly. Nearly every available service for cashing checks will impose a fee — and many service providers won’t cash personal checks.
So what are the check-cashing alternatives for an individual without a checking account? Here are five options and their accompanying costs: [ continue reading… ]
Let me share a story with you:
My friend chose to sacrifice himself and stay behind for work reasons when his family immigrated to the States a few years ago. It was a difficult decision I’m sure, but one that was necessary (I’m told) due to financial constrains.
His son was 14 at the time but he was always upset. I remember one evening while we were over for dinner, he asked his mom out loud “Why can’t we be rich?”
That was then.
In a few short years, my friend’s son completely changed. He is now 17 and working part time at a local cafe. He told me that he realized how foolish it was to be upset. How blaming everyone else who was trying to keep the family close together did nothing to help the situation.
Instead of wasting his time being mad, he started thinking of ways he could change his situation. He started helping out around the house so his mom had more free time to find a part time job. When he was old enough, he started working part time as well.
The extra income helped his dad (my friend) come up with the courage to move here and look for a job. At long last, the family was together.
The Way We Look at the Problem IS the ProblemI saw the matured youngster at the café the other day and while speaking to him, he reminded me what everyone should know:
Every problem has a solution, but if we don’t create a solution, we become another problem.
I couldn’t believe that it was coming from a 17 year old, but what he said was absolutely true – even if we don’t create the problem, we can become a part of it.
There is no doubt the economy is deteriorating right now. There is no question that people are losing jobs and it almost seemed like an understatement when I say that our investments lost significant value.
You might be upset but blaming everyone is easy and unproductive. Instead, ask yourself what you are doing about the situation:
If you want to be heard, learn to listen. If you want to be helped, assist others. If you want to prosper, take action.
It really starts with you. Even in a dark tunnel, you can brighten it up by glowing from within.
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