Are you planning on moving to a new apartment?
Before you spend money like it's going out of style, consider these four ways to save. You can move with ease of mind—and have pennies to spare!
Be Frugal with Your Furnishings
'Nice enough' is all you need i1.wp.com
"Fancy" is overrated. You can create a charming and welcoming ambiance without racking up your credit card bills. Use your flair for style sensibly by seeking out sales or even going for the "minimalistic" look. Less can be more after all, particularly in a pint-sized apartment.
Another tip? Get thrifty. As Unpakt suggests, "Scour the local yard sales, consignment stores, and sites like Craigslist to score quality furniture for less." You may not be able to pass down the pieces to your grandkids one day, but those tables and chairs will do just fine for where you're at right now.
Mull Over the Movers
Check around to get the best rates des.az.gov
Moving all your stuff from Point A to Point B can be a challenge, and it's so easy to call in a moving company to do your dirty work. After all—they'll do everything from packing your things to trucking them to your new pad. Strong men will unload, and some will even unpack your fifty-pound boxes. Sound tempting? I understand, but movers don't come cheap. There are other, more affordable ways to move your items to your new place that don't involve writing a huge check.
Rent.com has a smarter solution: "Renting a truck or van and moving your furniture yourself may be a much cheaper alternative. Self-service rental truck companies such as U-Haul have locations all over the country and offer affordable rates for daily rentals of their equipment." Put your muscles to task and money to better use!
Efficiency is Essential
Lights out www.mediashower.com
Along with rent, your monthly budget is sure to include electric and other utilities. Not only will being mindful of your daily routine be kinder to your wallet, but your eco-friendliness will also pay off in more ways than one. Shut the lights off when you're not home. Limit time in the shower. Do you really need to run the dishwasher every night? And why is the television on 24/7?
A few simple changes to the way you operate will start adding up to significant savings. Key Renter recommends, "You can invest in compact fluorescent light bulbs. These light bulbs are energy-efficient, and they last longer. You may also want to invest in a programmable thermostat." Two more ways to whittle down your spending.
Round Up a Roommate
Cut the rent in half and have double the fun www.baymgmtgroup.com
Now this plan won't work for everyone, but if you're single and seeking companionship (or at least someone to split the bills), hunting for a housemate can be a huge way to save. Even for a short-term arrangement, having a roomie can make the rent much more affordable. You may even be able to move into a larger or more glamorous apartment if you have a roommate to split the costs.
If you don't personally know anyone able (or willing) to move in with you, go online.
Smart Asset lists the 9 Best Roommate Finders on the Web, from Craigslist to Facebook and a bunch of others for matches all over the country. And don't forget to ask friends, family, and co-workers if they know of anyone who needs a place to live… and a new buddy, too!
Good luck with the move. Scratch "How can I save?" off your to-do list.
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While it's possible to be frugal with many aspects of your lifestyle, there are certain events and possessions that will require you to spend a substantial amount of money. Thus, a wise course of action is to begin saving well ahead of time while thinking about your goals for the future. This way, you'll be able to maintain a stable financial state even when faced with those large expenses. The following are a few major life purchases that you should plan for.
Marriage is a joyous occasion that many people look forward to. However, a wedding can be quite expensive, often costing thousands of dollars. Your family and your future spouse's family will often contribute to covering this, but you should still prepare to spend a good deal of your own money on the ceremony. If you're in a serious relationship and are considering marriage, you should plan where the funds for the wedding will come from and take the necessary actions to accumulate them. It's also crucial to discuss financial matters with your partner, since your property will merge once you get married.
A New Car
Automobiles remain one of the top modes of transportation. As a result, you may want to purchase a new car at some point in your life. Although you may be fine with an old or used vehicle at present, you may one day be motivated by a desire to acquire something nice for yourself or by the practical needs that arise as you raise children. Whatever the case, obtaining a new car is a major life purchase that you should plan for.
In addition to setting aside funds to eventually put towards a vehicle, you should also aim to build you credit score. This is because your credit score will determine your available car loan options. The higher your credit score, the more you may be able to lower your interest rates on your car.
Owning your own residential property is a worthy objective that you may hope to make a reality one day. Ideally, you should save about 20 percent of the total cost of a house before you buy it. This will allow you to make a larger down payment and thereafter face less interest on your mortgage.
As with acquiring a car, the mortgage options that you'll have can change based on how strong your credit score is. You'll want to increase your score as much as possible in the years leading up to buying a house so that you can get more favorable interest rates. In addition to contemplating down payments and mortgages, you must also remember that you'll need to deal with property taxes, insurance, maintenance and repair fees, and sometimes homeowners' association charges.
It's also necessary to hire a real estate agent to help you with the buying process. There are different types of real estate professionals. You should know how to distinguish between buyer's agents and seller's agents so that you can obtain favorable prices on homes as well.
Many people live together before getting married and have begun the process of combining accounts and sharing responsibilities. However, some people wait to do this only after marriage, and others wait until they're married to live together. Whichever path you've chosen, it's still crucial to know a few tips to manage money together as newlyweds to determine where you should begin and how you can remain on the same page.
Discussing Money Motivations
As we begin to share money with our significant other, we soon find out what one person may rank as a priority regarding money and the other may not. As such, sitting down and discussing money motivations is important. Two people who cannot agree on how to handle money may cause serious issues. This should include:
- How to deal with money following payday. Is a percentage put into savings? Is that the day to splurge on dinner, drinks, and more?
- The frequency and size of payments made to debts. Some people like to pay minimums, whereas others pay in full or make double payments.
- What do you each consider money well spent? Is it a new 70" 4K television? Is it an investment? Is it paying as much debt off as possible?
- How do you go about consulting each other before making purchases over a certain amount?
Establishing Financial Goals
After you evaluate the motivations behind your money and how it should be spent, you'll need to spend time together hashing out financial goals. As newlyweds, there are certain things on your list that you're going to want to save for. How do you go about that? How much of each paycheck will you dedicate to a particular fund?
Some things in the future worth making a financial plan for include savings and paying down debts. This is the time to be honest about your current financial standing. If you're looking to buy a home, you'll want to assemble a first-time homeowner financial checklist to begin to develop topics of conversation. Some of the things to consider setting goals for are:
- Student loans
- Car loans
- Future children
- A house
- Medical bills
- Delinquencies on credit reports
- Vacation and rainy-day funds
- Emergency funds
The more honest and open you can be with each other about the money you have and now the debts you share, the better. Implementing plans for the best ways to have the things that you both desire while still taking care of existing demands is important. These can be uncomfortable things to talk about; however, these conversations are necessary.
Following these tips to manage money together as newlyweds will allow you to have a starting point for conversations that can be tough to start. The sooner you and your partner get on the same page with finances and the responsibilities that come with them, the easier the transition will be and the sooner you'll find success.
It's the dream: money you can count on to keep rolling in, even while you sleep.
Passive income isn't entirely passive, of course. You'll put in work up-front to get the profits rolling, so don't relax in your recliner just yet. But with so many potential sources of passive income available to you, picking one or several will mean that the day you can finally kick back will draw steadily closer.
Real estate is a tried-and-true wealth builder for a simple reason: people will always need somewhere to live. Research the market in a growing community until you know a good deal when you see it. You can maximize rent by fixing up a deteriorating property or upgrading a mediocre one. The key is to hire a property manager to do all the day-to-day landlord duties for you—and you'll need a good one. Smart investors put their profits in another property and repeat the process until they have a diverse portfolio.
A YouTube Channel
You can start a blog if you're more comfortable hiding behind a computer, but consumers are more likely to prefer video content. Post a series of “how-to" videos to answer questions about whatever you're an expert in.
You can put up any content you want, but if you don't want to commit to regularly updating it, focus on “evergreen" topics that will draw clicks for eternity. Ads will create your income, especially if your channel grows in popularity. Better yet, sign up for affiliate marketing. If you recommend a product and provide a link to buy it, you'll get a small percentage of those transactions.
If you don't mind vinyl-wrapping your car with an ad for a company, you can get cash just driving around and running your errands. Make sure you contact a reputable company that doesn't ask for any money from you; if they're the real deal, they'll evaluate your car, your driving habits, your area, and more. Bonus: the brighter the ad, the easier it'll be to find your vehicle in the parking lot.
What's something that people will pay for but doesn't require shipping on your part? Finding that item is what can supplement your income indefinitely. Write an e-book, charge for your cross-stitching patterns, design prints that people can digitally download, invent an app, record a “masterclass," or whatever else you want. Every time someone new discovers it, the cash register rings. With a little more effort, this is a potential source of passive income for you that can continue to grow. Once you build up a customer base, they might want more products. The good part is that it's up to you whether you wish to give it to them.