Investment Money Ideas for Families

September 24, 2021 by Leave a Comment

Today, I’m sharing parenting tips on investment money ideas. Money can be tight for many families. Raising children isn’t cheap.  And, all parents want to create a brighter future for their family. Investing your money is one option to consider if you want to improve your financial future.  Most importantly, investing your money will help give your kids the best possible start in life.

 

 

investment money ideas

 

 

Many people think that investing money is for the rich. This couldn’t be further from the truth.  Furthermore, there are many investments available for beginners.  Those investments can be a great way to grow your money. And, you don’t need a million dollars to invest either.  A little money each month will start a nice investment portfolio for your family.  

Investment Money Ideas

 

Yes, investing can be risky, but there are ways to mitigate the risk while also giving yourself a chance at a significant financial upside. However, if you are going to invest in order to boost your family’s finances, you need to diversify your investment portfolio. Putting all your eggs in one basket is setting yourself up for disaster.

 

So, there are lots of different ways to invest, and it doesn’t have to involve investing large sums. Simply setting aside a little money each month and investing it should help you to eventually build  an investment portfolio that’s continually growing. Of course, if you’re investing for the good of your family’s finances, you should stick to safe investment options.

 

Investment Money Ideas for Self-Directed IRA

 

For example, if you’re focused on creating a diversified and varied way of investing, consider a self-directed IRA. These investment vehicles allow you to spread your investment across a range of alternative investment types. Find out more about them below: 

 

 


Infographic designed by: https://www.accuplan.net/

 

Finally, do a little homework or better yet talk to a financial planner.  They will be able to answer any questions you may have.   

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Types of Personal Loans You Can Obtain

May 21, 2021 by Leave a Comment

Today, I’m sharing financial tips on the types of personal loans for individuals. Have you considered applying for a personal loan? This type of decision is generally made by individuals or families who need to consolidate debt, cover unexpected expenses, make large purchases, or pay for home repairs. 

Whatever the reason, borrowing a specific sum of money can help you handle the situation without feeling financial stress. There are various types of personal loans, depending on one’s financial situation, such as unsecured, secured, cosigned, and a personal line of credit. The interest rates and repayment periods are determined by the level of risk lenders take. If shopping for a personal loan, learn more about the most popular types.

 

 

 

types of personal loans

 

Types of Personal Loans: 

 

Unsecured

A large number of borrowers opt for unsecured personal loans since lenders require no collateral.  Furthermore, there’s no physical asset to back up the money you’ve borrowed.  So, lenders have no power to take any of your assets in the event of failing to pay the installments. The credit history of the borrowers and co-signers is what usually serves as a backup.

Moreover, individuals shopping for an unsecured personal loan need a minimum credit score of a  670 to 739 points or higher.  The amount of the loan will depend on the credit score, ranging between $1,000 and $50,000. The better your score, the higher the amount you can borrow. The repayment period is generally between one and six years.

In terms of the interest rates, unsecured loans typically come with high interest. Despite the absence of collateral, individuals might face serious consequences when being late with the payments.  For example, late payments could wreck their credit scores.

 

Secured

Secured personal loans are the complete opposite of the unsecured loan.  For example, you must have collateral for a secured loan.  The collateral usually takes the form of a vehicle, deposit certificate, savings account, or other types of assets. In case the borrower fails to repay the loan, the lender has the right to seize his/her asset to cover the debt.  See this website to check out how secured loans work.

Nevertheless, the interest rates are much lower because of the higher level of security. Consequently, the majority of lenders show greater flexibility when it comes to credit score requirements. The collateral serves as some sort of compensation for not having a solid score. This alternative is considered the best for individuals with a mediocre or poor score.

 

 

 

types of personal loans

 

Cosigned

If you have a cosigner, you can obtain an unsecured or secured loan.  In the event of a poor score or non-existent credit history, lenders tend to ask borrowers to have a cosigner whose credit score is significantly higher than yours. The responsibility of the cosigner would be to pay off the debt in case you default.

Instead of collateral, you’ll have a person serving as backup. This scenario will help you get approval as well as more favorable terms. While borrowers stand to gain from such an agreement, cosigners take the risk of experiencing disadvantages.

For instance, the loan will appear on the credit report of the cosigner along with any late payments, which have a negative effect on the score. Therefore, every borrower considering such an option should factor in the financial risk involved in the decision. Any wrong move on your end could mean a damaged personal relationship with the cosigner.  The following link, explains what cosigners are liable and responsible for.

 

Debt consolidation

A debt consolidation loan is a perfect option for individuals having multiple debts. It’s a chance for borrowers to combine all their debts into a single loan so they will just have one monthly payment. This offer is convenient for individuals who wish to reduce their monthly expenses by avoiding multiple interest rates and hefty late fees.

Furthermore, you will only pay one interest rates. However, have to be in control of your debt for this solution to be successful. You should refrain from applying for new personal loans until you pay off the consolidated debt.

 

Personal line of credit

This type of loan is similar to having a credit card; only the borrowed sum isn’t repaid in monthly installments. Borrowers are provided with access to a given amount of money, which means they can borrow from it whenever necessary. Interest is charged only on the balance that remains.

This option is believed to be the best choice in times of emergency when individuals have to cover unplanned expenses. In order to be considered eligible, you should have a remarkable credit score and credit history.

 

Make sure you choose the right type so as to avoid unplanned scenarios in the future.  Consult a professional if necessary to help you with any decisions!

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Teaching Your Children Finances

October 28, 2020 by 2 Comments

Today, I’m sharing parenting advice on teaching children finances.  It can be hard to get your teenager to take money seriously.  What’s even more frustrating is the fact that they mostly source their funds from you regardless of if they’re not old enough to work yet or not.  So, the value of money is still a flimsy thing in their mind. Of course, not all teens are like this.  But, if yours is it’s time to sit them down and show them what they really need to know about money. Here is a quick list of what they need to know for their financial future.  

 

teaching children finances

 

Teaching Your Children Finances:

 

Savings are Important

Saving is the number one thing your teen should learn about.  They must understand how to save for college, an apartment or house or just to travel.   

Furthermore, they must learn to save on a regular basis.  Having a savings account is like having a safety net. Most importantly, it teaches them to not rely on you.  This point must be impressed; it’s imperative that they learn this point so they can stand on their own two feet.  It will also give them a sense of independence, which is what every teen wants.  

 

Money Dangers

There’s a lot we need to teach teens about the world. That it’s a tough place, that it’s rarely fair, and sometimes, it gets really hard out there.  Unfortunately, they’ll need to turn to someone for help.  So, it’s okay to help teens through difficult teens.  It’s key to teach them that the world of money is filled with danger.  

For example, credit and debt and living paycheck to paycheck are dangerous.  So far you’ve provided everything they’ve needed, so they might not truly understand just how hard things times can get. 

There are plenty of resources out there for them to help them make use of their money.  Let them go online to learn more about the biggest expenses in life, such as mortgages, finding good utility deals, and being able to save their money week by week. 

 

 

teaching children finances

 

 

Making Money Takes Time 

Finally, make sure you reiterate the point that ‘money doesn’t grow on trees’! Making money takes time, and being able to save it takes even longer.  Sadly, being able to get a job is harder than ever before. Encourage them through the difficult times and support them whenever they get rejected for a position. Make sure you point them in the right direction, and remind them of their strengths.  This simple step will empower them.  Just as importantly, it will give them confidence to enter the working world.  Which, is what they need to make money. 

Finally, your teens will need to know a lot about the world.  However, teaching your children finances will help them take the right steps to money management. 

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Achieving Financial Stability In Your Life

October 23, 2020 by Leave a Comment

Today, I’m sharing empowerment tips on  achieving financial stability.  Financial stability is one of the most important things to strive for in life. It reduces stress, improves mental health, and supports loved ones. While you do not have to be rich, the knowledge that your finances are in good health will enhance your quality of life. So, taking steps to achieving financial stability should be a priority.

Your home is where you spend most of your time, as well as the biggest expense. Naturally, this is the perfect place to start the transformation. 

 

achieving financial stability

 

Achieving Financial Stability:

 

#1. Clear Debt

Whether the debts relate to home purchases or other items isn’t important.  Losing money to interest rates and administrative costs adds to your debt. Therefore, knowing what is the best tax debt relief company should be at the top of your agenda. It’s impossible to start moving in the right direction if you haven’t tied up loose ends from past mistakes. 

Establishing a better repayment plan won’t suddenly remove debt overnight.  However, it helps to relieve some of the financial debt your shoulders. As you move closer to becoming debt-free, it should provide a springboard for future upgrades.

 

#2. Consider Remortgaging

Your mortgage is probably the biggest financial commitment you have. So, if you can find a better mortgage rate, it would be foolish to ignore it. It’s important to weigh the pros and cons of remortgaging before committing to any process. Under the right circumstances, it’s a move that could save you thousands of dollars over the next few years.  Therefore, it is one of the smartest moves you can make.

Remortgaging is particularly useful when you come to the end of a fixed-rate deal. Meanwhile, homeowners that have seen their property increase in value can use remortgaging too. A better loan-to-value can unlock lower interest rates to boost your savings.

 

#3. Go Green

Energy consumption is one of the most influential features for determining the costs of running your home. Making your home more economical through eco-friendly updates is essential. It will significantly reduce water, electricity, and gas usage. Moreover, your efforts to build a better home support the environment by reducing your carbon footprint. 

While some of the tasks require an initial outlay but, the investment will pay for itself in time. Most importantly, many local authorities run schemes to subsidize solar panels and double glazing. It is always worth researching the possibilities that may be available.

 

#4. Lose Unnecessary Bills

As a homeowner, you will encounter monthly bills and expenses. Sadly, most people are guilty of paying for services or overspending on features they do not need. For example, if you run an internet speed test, it’s quite likely you are paying for more than you receive. Similarly, TV packages and cell packages may include excessive data or channels that you do not need.

Unnecessary bills may also include insurance premiums for devices that are covered by your home owners insurance policy. Take the time to analyze all current bills to determine if any can be lost or cut down to size. The individual benefits may be small, but their cumulative impact is huge.

 

 

achieving financial stability

 

 

#5. Stop Hoarding

Most homeowners are guilty of a little hoarding. It can sometimes be hard to give up something that you may want to use down the line.  However, if you haven’t used a product for six months, it’s likely that it serves no purpose in your life. The noteworthy exception is, of course, decorations for the festive season or Halloween period. 

Hoarded items are taking up valuable storage space in the property.  Fortunately, selling items online or via garage sales can bring in a significant sum of money. In fact, many households have between $5,000-$10,000 tied up in electronics, art, and clothes that are no longer wanted.

 

#6. Use The Garden

The backyard adds a whole new dimension to the property, if you let it. Spending more time outside as a family can reduce your household electricity bills. Similarly, hosting a small family gathering or BBQ can be cheaper than heading out to a restaurant. If you use the facilities regularly, the value for money will be even greater. Many of the upgrades will boost the property value too.

Another potential benefit comes from growing fruit and vegetables. This can reduce your grocery bills and food waste. Better still, it can become a cheap hobby that saves you from wasting money on other tasks. The satisfaction of growing great tasting produce is also a wonderful thing.

 

#7. Choose Home Upgrades With High ROIs

Boosting your financial health doesn’t always have to show immediate returns. Sometimes, protecting your asset is one of the smartest solutions available. Most families will want to adapt and modify their homes to meet their evolving needs. However, choosing ideas that are shown to add value to the property puts you in a far stronger position. Do not forget it.

The most popular options are turning a guest room into an office, or adding an extension. Turning an attic or basement into a living space can make the home feel bigger and better while adding significant value. Aside from the financial boost, it adds value to your daily lives. Perfect.

 

#8. Repair, Don’t Replace

We live in a society that encourages us to replace broken items right away. In many situations, it is a far better option to repair them. Whether it’s using video tutorials to fix a faulty appliance or calling a professional roofer doesn’t matter. Repair jobs can often be completed at a fraction of the costs it would take to replace the items. 

In addition to repairing appliances, you can look to use upcycling to great effect. From turning crates into garden furniture to altering your clothes, the benefits are plentiful. It adds personality while also saving money. What more could you ask for?

 

#9. Protect The Property

In truth, financial rewards are of secondary importance when looking at home security. The primary incentive for adding CCTV and alarms is to save your family from an unenviable situation. However, it should not be forgotten that keeping burglars at bay also ensures that your possessions are kept safe. In turn, this prevents the need to replace those items.

Moreover, the investments into improved home security may bring down your home insurance premiums. For the sake of ongoing overheads and avoiding unforeseen problems, ignoring money saver is not an option. On a side note, it will also deliver a far greater sense of internal peace.

 

#10. Lose The Need For Ownership

It is very easy to fall into the trap of wanting to own everything. Ultimately, though, you have to do what’s right for you. In some cases, renting a property may actually be better than buying a property. Furthermore, leasing a car is often a smarter choice than purchasing a vehicle. Not least due to the depreciation that a purchased vehicle will encounter.

Similarly, there are plenty of items that you might only need for a one-off event or short period of time. Rather than using the item once and then leaving it in storage for years, rentals are easier. Clothes and filming equipment are just two great examples that you may wish to utilize.

 

#11. Quit Bad Habits

While efficient appliances and Smart tech are important, do you really need the latest and greatest?  Habitual changes can transform your financial future.  For example, cutting down on take out and alcohol can reduce your finances.  Likewise, if you learn to stop smoking, it can cut your annual expenses by thousands of dollars.  Sacrifice is worthwhile.

With the money that is saved from eliminating alcohol, take out and smoking, you join a gym.  Getting healthy is worth the expense.  

 

#12. Earn From Home

Starting a side hustle from home, or working as a freelancer for a few hours, can make all the difference. Even an extra $500 per month would completely change your fortune.  Now is the time to make it happen.

You may have long-term plans of turning your hustle into a full business. Or, maybe you’re happy to keep supplementing your salary in this way. In either scenario, with a little extra money entering the household each month, your hopes of achieving financial stability is far greater.

 

Finally, striving for financial stability shouldn’t prevent you from enjoying life. Instead, the focus should remain on making responsible decisions and long-term outcomes. When combined with good organization and a commitment to consistency, your finances will look better than ever. 

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5 Financial Planning Tips Parents Should Consider

September 24, 2019 by Leave a Comment

Proper financial planning can save you a lot of stress and headaches.  Taking the right financial planning steps can also help protect your family.  Furthermore, it can provide a secure and stable future. Most parents know how to save money and pay down debts.  But, if you really want to empower yourself and provide your family with long-term financial peace of mind, consider these financial planning tips:

financial planning tips

 

Shop Online for Your Life Insurance Policy

As HavenLife describes, a life insurance policy is “a contract between you and a life insurance company that helps protect your loved ones financially if you pass away.”  Fortunately, the task of buying life insurance is made simpler by shopping online.  You can compare rates and purchase a policy without leaving the comfort of your home.  And, you use insurance calculators to figure out exactly how much coverage your family needs.  Finding the right life insurance can provide peace of mind.  It can also provide a huge relief for your family during a difficult time.  For example, it can help pay funeral expenses, medical costs, and even cover lost income.  Also, consider taking care of other estate planning steps for your family.

 

Earn More Money With Your Emergency Fund

Savvy parents know the importance of savings.  You can use online calculators to determine how much you need to save for common family goals.  Your goals can be raising a baby to purchasing a new car.  In addition to saving for the expected, you should also be saving for the unexpected. Having enough saved for up to 6 months of expenses in an emergency savings fund can eliminate stress from unexpected illnesses or other financial burdens.  So, consider keeping your money in a high-interest savings account.  Furthermore, you should understand how interest on savings accounts can benefit you.

financial planning tips

 

Start Saving for Your Retirement Before College

Recent surveys show that more than half of all parents in America are saving for their kids’ future college tuition before they begin saving for their own retirement.  While saving for college can provide stability for your children, they may end up having to support you during your retirement years.  So, do yourself and your children a favor by saving enough to keep yourself financially secure during retirement.

 

 


 

 

Invest in Real Estate for Your Children’s Future

Buying a home can come with some pretty incredible perks.  For example, tax breaks, consistent housing costs, and equity.  These perks can benefit your children as well.  If you can swing it, an investment property can be an even smarter way to provide financial security for your family. In fact, buying an investment property first can help you create a passive form of extra income.  It can be used buy a first home or pay off debts.

 

Consider Padding Your Income With a Side Gig

If investing in real estate is out of the question right now, there is still a fairly simple way to add some extra income to your family’s budget: Get started with a side gig. Second jobs are becoming increasingly popular as an added source of income.  That’s because working a second job typically involves flexible hours.  Also, many jobs can be performed remotely which can be beneficial for time-strapped parents. If you want to bulk up your budget, think about driving for a rideshare company, taking online surveys from home, or searching for other side job opportunities.

You’re used to going the extra mile to provide a life of happiness and health for your family. Do the same with your financial planning by taking some extra steps.  With a little more effort and implementing a few of these financially planning tips, you can ensure a brighter financial future for your children and your family.

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Financial Security for Single Parents

June 25, 2019 by Leave a Comment

Today, I’m sharing parenting tips on achieving financial security for single parents.  As a single parent, stretching your money can be a significant concern. Taking on lucrative side gigs can bring in extra funds to help make ends meet.  However, with smart money and time management, you can pad your financial cushion without giving up time with your family.

 

finance tips for single parents

 

 

Flexible opportunities – The gig economy is a haven for entrepreneurs, temporary workers and freelancers.  It offers the freedom and flexibility to take on as much or as little work as you want. Along those same lines, Entrepreneur points out gig work allows you to earn as much or as little as you need. By altering the level of intensity, difficulty and quantity of your workload you can adjust your income level and time commitment. You are free to take a light load on the weeks your youngster is performing in a play, or engage more work to pay for gifts during the holiday season. Side gigs offer opportunities for variety as well.  So, if you become bored doing routine tasks you can switch things up when things become dull.

 

Personal and financial growth. When you’re tight on time and money, your circumstances can feel limiting.  But, a side gig can be a long-awaited chance to get your foot in the door to a new career. For example, maybe you’re talented in graphic design.  But, you can’t get hired in a traditional role without experience. As Coople explains, a side gig can bring much-needed notches in your belt. It’s also a chance to put a hobby or skill to work in your spare time.  For example, doing things like pet care, bookkeeping or house cleaning. The income can be deposited into retirement savings, a vacation fund or just used to pay routine bills. No matter what you decide, it’s income that can be earned in a manner flexible and pleasurable to you.

 

 

financial tips for single parents

 

 

Monitor that money –  Obviously income is a driving force in your choice to pick up a side gig. Some experts point out that many people who participate in freelance work don’t do an effective job of managing finances. However, you need to keep tabs on your gig income because you will pay taxes on it.  And, tracking it can also help you learn market trends. For instance, if you decide to be a dog walker or sitter, you may notice you stay especially busy during the spring break season. Or if you’re cleaning houses, your busy season may be during the holidays. Setting up separate accounts can help keep your finances on track.  Furthermore, it will project when you will see increases in income and being busy.

Tracking your expenditures is another issue. You don’t want your personal money going into your business venture.  Also, you need to monitor exactly what you spend on your business adventures so you can make appropriate tax deductions.  A business credit card can simplify tracking your spending and alleviate bookkeeping headaches. It’s important to choose a card that supports how you’ll use it. For example, some cards are better suited to traveling, some are more accommodating if you lack credit history, and some offer cash back incentives. Another option is taking out a loan for your small business. Short-term loans usually work best if you have a new business and decent credit. Research your options before committing so you can make the best choice for your situation.

 

Engage tools –  With the growth of the gig economy, tools for effectively engaging in gig work are plentiful. One way to participate is through a platform. Platforms are websites that connect people desiring services with people providing services. For instance if you are a bookkeeper, you might engage an administrative professionals platform. Then busy entrepreneurs can go to the platform to hire you. The platform page typically vets the freelancers they list.  This in turn provides peace of mind to clients hiring help and validity to those offering services. As Forbes notes, engaging a platform website can be a way to find work in the gig economy quickly.

 

Side gigs help. If you’re a single parent and strapped for cash, taking on a side gig can be a boon. The flexibility makes it possible to enjoy family time while making ends meet. Use the tools at your disposal to manage your finances and business carefully.  Side gigs can provide financial security for single parents as well open a wealth of opportunities to you!

 

 

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4 Ways Parents Can Plan for Financial Emergencies

May 16, 2019 by Leave a Comment

Planning for parenthood can be filled with joy.  Especially, when you’re thinking of your future family, the adventures you’ll have, and the love you’ll share. However, some parts of planning are much more serious than others. In between looking at paint swatches for the nursery and touring preschools, parents need to examine their financial reality.

When it comes to organizing your finances, there is no predicting the future.  But, you can plan for it. This is especially important when wondering how to stay afloat during emergencies.  Today, we’re sharing parenting tips on how parents can plan for financial emergencies. 

 

 

Start Emergency Savings

 While most families have a savings account, all families need an emergency fund.  A savings account can help you with big purchases such as vacations, back-to-school shopping, or replacing the tires on your car.  An emergency fund is your family’s safety net during times where you face a much larger financial burden.  For example, if you or your spouse are laid off or you are looking at a long hospital stay.  A solid emergency fund is roughly equal to three months of your household’s income.  It takes time to plan for financial emergencies and build an emergency fund.  So, any time you get big payouts, like a hearty income tax refund, be sure to set it aside.

 

Prepay for Funerals

 It’s an uncomfortable and unpleasant conversation to have, but pre-paying for your funeral expenses is an important topic to discuss. Not only does prepaying guarantee that your family will honor your memory and celebrate your life in a way you want, but it also helps save your children cash and prevent conflict during one of the most emotionally stressful times in their lives.  After all, the average funeral sets families back between $7,000 and $9,000.  This amount is based on factors such as where you live, whether you want to be buried or cremated, and what kind of memorial service you choose.

There are several ways to pre-pay your funeral costs. You can purchase a pre-need insurance plan through a funeral home or a more general final expense insurance policy, which offers the option of coverage for outstanding bills beyond your funeral. You can also set up a joint savings account with your children that provides the financial support to make your final arrangements.

 

 

how to budget

 

Purchase Insurance

 Now that you have a child to consider, insuring you and your partner’s lives and well-being can mean a more stable life for your child should a crisis occur. You will help ensure they can maintain their lifestyle when you purchase life insurance, disability insurance, and homeowners or renters insurance. These three are crucial for helping your whole family maintain a low stress level during an unfortunate event. Disability insurance is important if your work relies on your body.  If a tragedy occurs, you could still have a cash flow even if you’re not working.

 

Work a Second Job

 If you really want to fatten up your finances, you can weigh the pros and cons of getting a second job.  It can be as easy as delivering pizzas or as complex as serving as a professional consultant. A second job is a great way to shovel money into your emergency fund, pay off debt or begin saving for child care. In today’s gig economy, many parents make extra cash driving for a rideshare like Uber, freelancing or working part-time online jobs. Unless you plan on working a second job forever, don’t count this incoming cash as part of your regular salary. Use it instead as a means to work on padding up your savings or paying down your debt.

Starting a family costs money. In fact, it can cost more than $200,000 to raise a child in the United States. Smart parents plan ahead as much as they can from birth to death, and from preschool to college. While financial planning may seem like a joyless chore, you’ll have peace of mind and extra time with your loved ones.  So, the sooner you starting a plan for financial emergencies the sooner you can relax and enjoy life.

You may also like:  15 Signs That You’re In Debt

 

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Cheap and Cheerful: Easy Ways to Reduce Your Cost of Living

January 21, 2019 by Leave a Comment

 

ways to save money

 

 

Money is the leading cause for stress in the US.  Approximately, 30% of adults report significant financial stress. Additionally, stress can easily creep up on you, especially if you’re raising a family.  Fortunately, there are some obvious ways to save some money.  For example, buying simple, healthy snacks for your kids over pricey store-bought packaged ones.  Have you seen the price of hummus?  Here are additional way to reduce your cost of living:

Manage Credit Cards

Lines of credit are useful.  Especially, in times of financial difficulty.  However, it can be easy to lean on them a bit too much.  Doing so, could end up costing you more than it has to.  Many companies offer a helpful perk of transferring your balance from your current card to theirs.  Additionally, some offer no interest or lower interests for a few months, so it’s worth looking into. The window of time without payments  and/or added interest could be very beneficial in helping you catch up on bills.  You can even use the extra money that you’ve saved  for a rainy day or emergency fund.

 

ways to save money

 

Cut Extra Services

Many membership based services lure people in with a free service for a certain amount of time or another appealing offer.  After the trial window, you might find yourself paying money each month to a service you don’t really use.  If it’s something that legitimately benefits your family, then by all means take advantage of it.  On the other hand, if it’s costing you even a small amount of money each month, and you won’t really miss it, cut the proverbial cord.  What you will save can help reduce your cost of living, versus rationalizing it as inexpensive fee each month.

Save When You Can

Another way to reduce your cost of living is to set aside 10% of your net pay.  The following year you’ll be able to start buying food or even services in bulk. This will cut down on your grocery bill.  You can get a better price on the cost per roll for toilet paper by buying it in a bulk package.  Even phone service providers are now offering a cheaper price per month, if you buy several months at once.  Unfortunately, the problem is that it costs more up front.  Oftentimes, people just can’t afford that initial upfront cost. By making a few cuts, you may be able to afford it the following year.

Finances can be stressful, but with a bit of strategy to reduce your cost living, the stress-relief alone is well worth it.

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