Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
Many singles with expensive leases in major cities, traveling retirees with empty homes, and couples with a spare room and a desperate need for cash are looking for ways to make the space they rent or own pay for themselves. Many budget-conscious vacationers, seasonal university-town students, and hotel-weary business travelers are looking for cheap, attractive, short-term accommodations. Where the two sets of people often meet is a growing marketplace of online communities that connect hosts with travelers – services like Airbnb, VRBO, and FlipKey.
Although I can’t rent out a room at the moment, the idea appeals to me. Not only is being a short-term rental host a way to earn extra cash; it presents the opportunity to ‘travel,’ learn, and widen your perspective as you meet all sorts of interesting people from different cultures and walks of life – without having to leave your home.
Before getting too caught up in the possibilities and contingencies (what it involves, the legalities, the material risks), the first question I’d need to answer is whether it would be profitable for me. Unfortunately, that requires a little math. [ continue reading… ]
Credit cards are a wonderful tool to help you get more out of your spending, but they can also be a temptation that keeps you in debt. It all depends on how you choose to use them. However, even those who manage their credit cards wisely might be prone to these top three mistakes. Are you guilty of one?
1. Your Card Utilization is Too High
A major factor that affects your credit score is your credit card utilization. This percentage is based on the balances you have on each card compared to how much of a credit card line you have. For example, if you only have two cards with a $300 limit but you are at that limit, then your credit score will be penalized. On the other hand, if you have $5,000 of credit card debt but a $50,000 credit line on the card, your score will fare better. [ continue reading… ]
Studies show you can get an effective workout in half the time by increasing the intensity: a 10-minute high-intensity circuit can potentially burn as many calories as a slow-paced 30-minute workout. As it turns out, we can apply this concept to finances as well. Few of us have hours to spend on money management (or working out), but we might have 15 minutes. What can you do to streamline and burn the fat off your financial physique in that short amount of time? Here are some ideas.
Automate your bills
Setting up automatic payments (and reminders) through your bank or services like Mint Bills doesn’t take much time. You will end up saving time by not needing to manually pay bills. You will also waste less money on late fees every month. [ continue reading… ]
At first glance, saving money seems pretty generic. It’s not as complex as other financial processes like buying a house, figuring out the most efficient way to pay off debt, or filing income taxes.
But when you dig into it a little more, you realize that how a person saves money says as much about them as any other expression of their personality.
Just as each person has a unique way of completing mundane tasks, such as buttering bread, everyone handles their money a little differently.
I’m not talking about whether you’re a good or poor example of financial responsibility; there are general practices that will define which of those you fall under. I’m talking about your unique preferences for money management: what form of money you prefer, how frequently and how much you save, and what you save for.
You’ve read all the financial gurus’ books. You set up a fancy spreadsheet to track your spending. You follow 20 personal finance blogs. You’ve even switched to a cash envelope system. Still, your budget just isn’t panning out.
Sound familiar?
When I first got serious about personal finance, I dedicated myself to following all of Dave Ramsey’s teachings. You know: ditch the credit cards, pay down debt, focus on frugality, and use a cash envelope budgeting system.
Paying off my debt and swearing off credit cards was the easy part, but when it came to budgeting, I failed miserably.
I’ve tried many different budgeting methods over the past seven years, and I’ve discovered there’s no “one size fits all.”
Here are three common budgeting problems you might have (and how to solve them): [ continue reading… ]
The fall is a favorite season to many and it is easy to see why. The weather is nice, the leaves turn beautiful colors, and of course, pumpkin spice lattes. Here’s another reason to love fall – it saves you money. Here are five ways to save money this fall. You don’t want to overlook these tips.
1. Indulge in More Inexpensive Meals
When the weather starts to turn breezy, soup and chili are the perfect comfort foods. Take advantage of your slow cooker and these inexpensive meal choices. Another great thing about making soups and chili is that you can freeze them, prep them ahead of time, and even throw in random leftovers you have rotting, scratch that, waiting for you in the fridge. Today I made Skinny Taste’s chicken taco chili, out of beans, rotisserie chicken, and a half used can of tomato sauce that was on its last leg in the fridge. It took about five minutes to throw everything in the crockpot. [ continue reading… ]
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