A Personal finance blog for saving money and earning more and thus having a better life
So you are making a decent income currently but you need some extra money to go on a vacation or you need to start saving $20,000 to add to your son’s college fund. How do you proceed with this plan in the most effective manner possible?
Good question. I have been put into this position within the last 3 years. Then I found out that my family’s expenses were far above the income from stocks and oil properties.
With every passing year, the roads get more and more crowded with cars. While the traffic gets worse, people still rely on automobiles to make their lives and careers work. Giving up your car simply isn’t feasible for a lot of us. And that presents a financial burden that you might find hard to shoulder.
The sheer cost of operating a car these days can be very expensive! We’ve taken the liberty of assembling our best tips for keeping that cost to a minimum. Pay no more than you have to drive, without compromising your safety!
Can you remember back to when you were younger and you were just dying to grow up before your time? You wanted to stay out late with friends, you wished you had your car and own money, and most of all, you wanted to move out of your parents’ house.
Now that you’re an adult and have all of the grown-up responsibilities, you now wish that you could go back to the times where you had the luxuries of being a kid.
Freelancers have much more control over their finances compared to employees working in traditional roles. If you are a freelancer, you can dictate how much you charge for a specific job, how long you work each day, and how you invest the money you make.
While having more control over your financial situation is fantastic, it does present some challenges. One of the biggest challenges you will face is ensuring that your income is spent wisely and that you can save some money for a rainy day.
Do you miss deadlines, pay late fees, toss rotten food weekly, or lose a gift card that you purchased? If yes, you are losing too much money. at our home, we are guilty of this. We bought so many clothes and shoes that we lost track of the new items. The clutter created made choosing the new dresses over older ones difficult.
This is the price you pay for being disorganized. In today’s era, everyone is thinking of ways to save money. However, it is not just about spending less. Do you know that organizing your home can help you save money?
A financial times article says that a wealth range of at least £2m in the U.K can make one worthy of the title ‘rich.’ The annual Charles Schwab Modern Wealth survey says that a rich person in the USA averagely has $2.3 million to their name. This, according to the company is over 20 times the median net worth of an average household. The report, however, states that for one to be considered financially comfortable, they have to have at least $1.1 million in the bank.
Most of the respondents in the survey noted that they plan to enter the wealthy elite class in a decade, and the easiest way to get there was to learn to ignore FO.MO.
According to Creditdonkey, an individual spends an average of $250 per month on groceries while a household of four spends on average of $712 to $1106 per month. Food is one of the bigger expenses every individual incurs with the biggest being housing and transportation.
If you are looking to save money on groceries to free up extra cash for other means then check out my 5 grocery shopping tips!
Recently, I almost bought a shower panel from Amazon, that required two separate water connections, one for the normal water and the other for hot water. But our bathroom has only one nozzle, the water connections were inside the drywall. I only got the information as I have a habit of reading a few bad reviews (1/2 star rated reviews) of a product before buying it.
Had I gotten that I’d have spent $300, after reading the reviews, I bought a $40 shower head instead. The internet not only allows you to find products fast and conveniently but also to save money when you are shopping. With a little bit of internet research, you can spend less than usual on your shopping.
As we grow older, the importance of a financial nest egg becomes more and more relevant. With big life changes such as vehicle purchases, home purchases, and unexpected emergencies, it is always nice to have some money stashed away for a rainy day.
Savings accounts are not built overnight and getting to where you have a good amount saved up can take awhile. Luckily, we have 10 money management tips that you can start to build your savings today.
Saving money when your bills seem to pile up faster than ever is definitely a tricky situation. Yet there is a solution to everything and this article is here to open some doors for you. Cutting costs without actually reducing your quality of life is a task that requires some research. We will talk about some easy low-hanging fruits that can be plucked while not sacrificing your lifestyle.
Average American household Spending
Your financial freedom is somehow limited by the essentials you need to pay for at the end of each month – taxes, utility bills, transportation costs, housing and so on. Around half of your salary will go on these expenses, so you need to learn how to cut them to a minimum.
