Blinq Blog

Unless you're Mackenzie Bezos or ex-husband Jeff, chances are you budget your money. You know how much of your monthly income you want to spend on groceries, rent, and leisure, and maybe you even put a portion of each paycheck in savings. But what about budgeting for a specific goal? Is it a short term or long term goal? What are the best tools for both?

Identify Your Financial Goals

Your first step should be identifying the kind of financial goal you're trying to reach. Some examples of short term goals are things like: payments toward rent, insurance or student loans, expensive personal items (new car, new fur coat etc.), travel, a wedding or other event, and home repairs/remodels. These goals are more immediate expenses that you will pay in a matter of months and often require a set amount of money up front. In contrast, long term goals are less likely to have a set amount and more likely to be things that you'd like to continue to expand indefinitely, such as retirement funds or college funds. (Of course, things like paying off a loan or a house are a combination of long and short term goals, since a single loan payment falls under short term goals, while paying off the entirety of a loan is more likely to be a long term goal).

Prioritize Your Financial Goals

The next step is prioritizing your goals. As Nerd Wallet puts it, "Work your goals around your usual expenses, focusing on needs like food and shelter first. Emergency and retirement funds are also high priority; contribute to these funds and pay off debt next. Then you can decide how to allocate the rest of your money toward your wants and other savings goals." Essentially, if you only have a small amount of leftover money each month, you shouldn't put it all towards buying a boat if you have student loans to pay off.

How to Create Your Budget

First, if you don't already have one, budget your necessary monthly expenses as precisely as possible. These necessary expenses include paying for food, living expenses, transportation, and recreation. Try to work out how much you spend on these things in an average month, and then consider if there are any areas you could cut down without great personal cost, such as eating out one less time a week. Once you have this basic budget established, create a timeline for your short and long term goals. To do this, you can use this 50/30/20 budget calculator to determine where exactly your money should go.

After you have a plan laid out, all that's left is actually sticking to the budget you created for yourself, and then you can watch your goals get closer and closer to fruition!

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Airbnb is a great option while traveling, but you should protect yourself from damage charges from unscrupulous hosts.

Airbnb offers an affordable option for people looking to be more comfortable as they travel.

However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.

And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.

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Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."

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Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.

The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.

Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.

Stick To a Specific Strategy or Niche

Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.

First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.

Be Vigilant About Viable Financing Options

While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.

Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.

Master the Art of Finding Good Deals

There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.