Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
At a national average of $729 a month for new cars and $528 a month for used, car payments can take a big chunk out of the monthly budget. Even if you avoid car loans, the high cost of a vehicle can delay other savings goals. Either way, it’s rewarding when a vehicle costs nothing more than fuel and routine maintenance. In fact, it’s such a rewarding feeling that you might miss important signs it’s time to start car shopping again.
Being frugal is a great quality when it comes to vehicle purchases – while the average consumer purchases a new one every 3 to 5 years, today’s vehicles are designed to last 10 or more. Still, it’s possible to be too frugal and end up costing yourself more money in the long run. If you have any doubts about whether it’s time to buy a newer vehicle, consider these four signs.
1. Your Vehicle’s Safety is Questionable
Aesthetic qualities and luxury features are one thing, but safety is quite another. If there’s any question whether your vehicle can get you safely from Point A to Point B, it’s time to consider an upgrade. Here are a few examples of what might constitute a safety concern:
Your vehicle sometimes has mobility problems. If this happens on the road, it could cause an accident.
Your vehicle lacks important safety features. Newer vehicles are equipped with advanced safety features, but we’re talking about the basics – seatbelts, curtain air bags, traction control, etc.
Your vehicle has been in an accident or has extensive rust that could compromise is structural integrity. The appearance of rust might not bother you, but the damage it does to internal parts could.
Debt is one of the easiest traps to fall into and it can seem like it’s practically impossible to get out of. The formula to paying off debt is relatively simple; spend less than you earn. The reality isn’t easy to apply to your life though. After all, it’s difficult to create new habits and change your mindset about money.
I’ve been there. I’ve had many days of non-stop anxiety and sleepless nights because I worry whether I’ll have enough to cover my expenses. But I made it through the tough financial times and conquered my debt, so I know you can do the same. You just have to find out what’s really hindering your progress and most of the time, it’s usually a mental roadblock.
Success with money (or lack thereof) usually comes to down to one of these phrases. [ continue reading… ]
You’ll always find tons of people online sharing ways to be extreme couponers and save money at all costs. And while you may be tempted to try these methods, I’ve learned it doesn’t always pay to cut corners over the years even if you’re trying to save money
Look. I applaud your efforts and willingness to make sacrifices to keep more of your hard-earned cash in your pocket. It’s just that the effort could end up costing you more in the long run. Here are five times when being thrifty can backfire and cost you more money. [ continue reading… ]
I’m not much of a rules kinda guy, but the 30 day spending rule is one I really like. The rule is pretty simple – wait 30 days every time you want to make a purchase. Go buy the item if you still think it’s worth the cost after a month, but chances are good your desire to spend faded by then.
In recent memory, I have, at one point or another, wanted to buy the following:
New Pair of Jeans
The New iPhone When It Comes Out
Golf Clubs (2 Wedges To Be Exact)
Laptop
Study Course That’s More Hype than Anything Else
Luckily, none of these “toys” passed the 30-day test. Otherwise, I would have racked up even more debt and be busy regretting my decisions instead of telling you about my win.
Adding Some Spice to the Waiting Rule
Okay, that wasn’t crazy interesting. So many of us already know this rule. We either practice it already, or we’ve decided that it’s not worth the effort. Either way, we don’t need to read the rule again. [ continue reading… ]
While traveling is fun, flying can be a headache. One of the hardest things is figuring out what to pack, especially when airlines put so many restrictions on traveling with luggage. The worst for me is to put the luggage on the scale and find out that there will be an exorbitant charge because the bag is overweight. Because then I get to find myself in the middle of the airport trying to rearrange items between different bags so that all of them stay under the weight limit.
Luckily, I happily avoid all this nowadays by just bringing a carry-on. I’ve traveled quite extensively over these past couple of years and have only needed to check a bag once (only because I bought a bottle of wine as a souvenir). It’s taken me many trips to perfect the art of fitting everything I need in just one carry-on, but I now feel freer not having so much stuff with me. If you want to avoid high airline fees, take a look at these tips to pack light and only travel with a carry-on. [ continue reading… ]
Being a smart shopper is not always the easiest thing to do. With all the sales and promotions being thrown at you, especially with the holiday season just around the corner, it’s easy to cave in and make an impulsive buy. Retailers have tons of tricks up their sleeves to make you spend more money, so it’s important to stay alert in order to make the most of your money.
Not so long ago, I was the complete opposite of a smart shopper. I was impulsive and bought anything that was on sale or looked like a good deal. Needless to say, I wasted a lot of money. However, I’m now a reformed shopper and I’m much more careful about how I spend. Here are five rules I live by when it comes to shopping: [ continue reading… ]
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