Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
It’s important to have an idea of your financial priorities when you are trying to make a financial plan or reach a certain financial goal. After all, it’s impossible to decide what you should do with your money without priorities, not to mention figure out what actions you need to take to reach your financial goals. Determining your financial priorities can take a little bit of time, and it requires some introspection. The good news is that once you figure out what your priorities are, it’s a little easier to get your finances on track.
First, Decide What’s Important to You
According to a survey from Bankrate.com, 38% of Americans list staying current on living expenses or getting caught up on the bills as their highest priority.
Following managing bills, the next biggest priority is paying down debt (21%). Finally, saving is a priority for about 18% of Americans, according to Bankrate.com’s survey. [ continue reading… ]
I’m very proud of myself today because I just made decisions that will save me $100 per month. I called the cable and cell phone company and told them to:
Before you leave this page thinking that this doesn’t apply to you because you make enough money to easily cover these expenses, let me tell you that my wife and I are not trying to save because we cannot afford the luxuries anymore. In fact, our living expenses are so low that we can live comfortably with just one income. We are cutting the fat out because we feel that it’s just not necessary to spend $100 on something we can do without.
Time flies doesn’t it? While I’ve changed to Ting to pay even less for cellphone service since then, I’ve been cable TV free for 12 years now. That $100 a month sounded a lot then, but 12 years’ worth adds up to $14,400. If I invested the entire sum every month, that’d be worth double or even triple that amount. By eliminating $100 off my budget a month for 12 years, I have enough already to pay for it three times over. [ continue reading… ]
I’ve been busy lately. Instead of sitting in front of my computer waiting for the same email (more likely spam) to come through, I’ve been calling, asking and searching. During the last couple of weeks, I:
Asked my car insurance agent to price match an insurance policy that I found online.
Call my Internet service provider to extend my new customer discount.
Went to get a free piece of chicken from KFC.
Frugal Living is Easy, Not
Most of these types of posts usually have people bragging about how much money they saved and how you can too if you follow the steps they outlined. They make it sound so simple but it’s almost always misleading. It took a while to search and compare all the insurance policies available, to wait on the phone to find a customer service rep for the Internet service provider, and to be in a room full of people at KFC (actually, it was quite fun seeing so many people but anyway…). Instead, I could be spending time golfing, being with my family, or reading a book.
Let’s be clear. Saving money, or more broadly, taking action, isn’t easy and takes quite a bit of work. If you feel like you can always save later when you need to because it’ll be a quick phone call away, then you are mistaken and will get discouraged when you actually need to do it.
I still remember talking to people a few months ago when they just lost their job and needed to reduce expenses in a hurry. A few of them could easily knock $50 a month off their Internet service costs, but the lines were so jammed they just couldn’t get through.
How you think of money can have a huge impact on your financial future. And there are many myths out there that don’t do us any favors. Here are 11 that could be keeping you from the promised land. [ continue reading… ]
Network marketing, otherwise known as multi-level marketing (MLM), is a business structure in which “hiring” consists of recruiting others into the company, and “payroll” consists of personal sales and commission from downline sales.
At the end of the day, everybody becomes salespeople who sell products and get other recruits to sell products. You earn for each product you sell and for each product your recruits sell. It can be thought of as a networking matrix, where the more recruits you get on board, the more income you make.
Pros of the System
It is possible to make money in a MLM system. The key is to get in at the right time and do well selling the product. Studies show that the majority do not make enough money to live off in such an environment, but the average does make between $2,000 and $3,000 a year. Getting in at the right time is important. In the early stages, the system has more possible people to recruit, while in the later stages it can be difficult to recruit and sell products.
Cons of the System
The system is widely criticized for a number of reasons. It widely resembles a pyramid scheme where the bottom pays the top. It is only different in that there is a product involved. Once the system reaches a certain level, there will be a shortage of recruits in the market, which may lead to it failing. A 5×5 matrix (each recruit getting 5 more recruits) will fail around level 10. At this point, the recruits towards the bottom will begin dropping out because they are losing money, which leads to a domino effect all the way up to the top.
That’s why MLM companies are often stigmatized as get-rich-quick or pyramid schemes. Still, some network marketing companies are nonetheless establishing solid reputations and pulling more and more interest from people disillusioned with the job market, failing pensions, and their lack of financial independence.
While the myth that all network marketing companies are scams is steadily being dispelled, some still question whether these businesses are actually worth getting involved in — can ordinary people be successful at them?
My answer is yes, especially if you consider the following tips. [ continue reading… ]
Are you a spending monster who wished you were a saving technician? Or do you want to know how to teach your kids to become a saver rather than a spender? If you answered yes to either (or you are just so bored anything will do this minute), the article is for you.
Confession of the “ah ha” Money Saving Moment
I have to confess that I didn’t discover this secret until I was sitting in front of my computer with nothing to write about. I was staring at that white screen at the time and was actually thinking about golf. One thing led to another and when my mind wandered upon why I wanted to play so badly, it dawned on me that it was because of my good performance of late. My desire for golf was heightened by the success I was having. I wanted to feel good and golfing gave me that feeling. I was a recipient of positive influence.
Positive Influence in Becoming a Snowball Saver
Like a snowball rolling down a slope, positive influence can help give us a jump start along the path to prosperity. I still remember my first savings account and seeing my tiny account balance grow. The numbers were increasing at a snail pace, but they were definitely going up.
It was fun to see all those charts that trend upwards as I recall. I was young, but I already saw the benefits of saving. As the activity section was filled with transactions, I started associating the happiness to saving money. Not eating that candy bar the other kids had all of a sudden became okay. When I grew up, so did seeing all my friends buy high priced TVs without getting one myself. [ continue reading… ]
You’ve noticed lately that Mom and Dad are starting to show signs of aging. Cobwebs and dust may be appearing in the previously spotless living room, or they’ve been forgetting things like appointments and medication. But your parents adamantly refuse to even consider moving to an assisted living facility or nursing home.
According to AARP, nearly 42 million Americans are caring for their elderly parents, and many of them are facing a similar dilemma. Keeping your parents living safely at home isn’t going to be cheap, but it’ll likely be less expensive than an assisted living facility, which costs around $36,000 per year, or a nursing home, which costs around $77,000 per year for a private room.
Here’s what you can expect financially from helping your parents stay in their home: [ continue reading… ]
Free signup to get a free ebook on How to Save Money on Everything! Constantly expanding, it will be the biggest money saving ebook available, and it's FREE! →
(I hate spam and promise that your information will never be shared.)
