Many people tend to focus too much on upfront costs, and not enough on the long term costs sometimes. Cheaping out right now could actually end up costing you quite a bit. Sure, you want to save money and look for the best value for your dollar. But if you are too cheap, you could end up paying more in the long run. Here are 4 ways being too cheap could cost you big:
Have you ever had a week (or maybe two) when your spending got out of hand? My last two weeks have been like that.
I had major family obligations to deal with, I started helping more at my dad’s business, and I took on another small freelance job — all within the same week. Life got crazy.
Needless to say, I let overwhelm take over, and my money pretty much flew out the window.
When it comes to budgeting, falling off track is a common problem. Here’s how I’ve recovered from my overspend, and how you can do the same: [ continue reading… ]
You look out the window of your home each night after dinner, staring across the street at your neighbors. You long for their fancy cars, their manicured lawns, and even the vacations they seem to take several times a year.
You’re not alone.
I often look out my window, too — staring at the gorgeous homes and cars — wondering how they manage to pay for them. After all, we live in the same neighborhood, our kids go to the same schools, and their salaries aren’t that much more than ours.
There are several reasons that our neighbors can afford so many of the things we would love to have, but could never fathom splurging on:
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(Sorry guys, this post isn’t likely to be directly useful to you, but you can share these tips with the girls in your life and look really knowledgeable and respectful about girlie things.)
Makeup is one of those items that I have a love/hate relationship with. I love trying new colors, dolling up my best friend’s teenage daughter for prom, and goofing around with the girls for a spa night at home.
Now, don’t get me wrong, I can go weeks without wearing makeup and be perfectly happy; it’s not essential to my life. But it’s fun to be creative and play with color combinations and application techniques.
Makeup also holds great potential for a shopping addiction. Before I had kids (when I had considerably more spending money), I used to shop for makeup on a regular basis. I stopped shopping at the drugstore and began venturing into the department store’s line of more pricey products. The products were nice, but the price tag was outrageous. When my kids came along, I simply couldn’t afford to keep up. I learned how to make what I had last longer and how to spend significantly less on my makeup.
Here are eight of my top tips for saving money on makeup:
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One of the best things you can do for your financial future is to start preparing for retirement as early as you can. Unfortunately, not very many Americans are getting ready for retirement. Indeed, according to a report from the Federal Reserve, 31 percent of Americans have no retirement savings at all.
Not only that, but less than half of Americans have even assessed their retirement needs. Are you one of those with no retirement savings and no idea of how much you need to retire? (Here are some suggestions that will help.)
This is a serious issue for many people right now, and it’s important that you prepare as early as you can – or you might be stuck without sufficient assets later on. Inflation, health care costs as you age and other issues can slow your finances down. Now is the time to prepare for retirement, or you could be in trouble later.
Figure Out What You Need
Too many Americans aren’t adequately preparing for retirement. In fact, an alarming number don’t even know how much they will need in retirement. As a result, too many people probably aren’t setting aside enough money for their retirement needs.
It’s tempting to think that the $200 you’re setting aside each month will be enough to fund your golden years, but the reality is that it probably isn’t going to cut it. You will likely need to set aside a lot more for retirement – unless you happen to be a teenager right now.
So how do you know how much you need?
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Did you know that those hundreds of pennies lying under the couch cushions and on the car floor could be a source of income? You have several options that are far more favorable than rolling and cashing them in at the bank.
Recycling pennies may sound a bit like a late night infomercial, but there is some merit in the concept.
Pennies minted before 1982 are comprised of nearly 95% copper. As of the date this post was written, recycled copper was selling in my area for $4.13 per pound (and the price has been rising steadily for several months thanks to a crappy economy).
You’ll need about 151, pre-1982 pennies to make a pound of copper. Yep, your $1.51 could yield $4.13 for the work of sorting through a few pennies and driving to the nearest scrap yard.
“But wait! Can I just bag my pennies and haul them in?” Nope, there are a few catches:
