There's nothing like getting the keys to your first car. The sense of independence and freedom. You can go anywhere, anytime you want. But this freedom comes with a lot of financial responsibility. Car payments, parking spaces, repair costs, and — of course — gas. For many, these are just accepted costs. But a growing portion of the population is not licensed to drive. A smaller portion does not own a car at all. Turns out, you don't have to own a car to get around. Here are a few more affordable transportation options than a personal car:
1. Public transit
In most major cities, some kind of public transportation exists. These can consist of subways, light rail trains or just buses. Public transit is a good option for reliable transportation to and from work. While some cities are notorious for late buses and trains, most areas experience little to no delays during rush hours. Most cities allow you to purchase weekly, monthly or even yearly passes. This makes budgeting much more efficient than tallying up varying mileage. It might take a little longer to get around with public transit, but you also have that time to relax or get even more things done.
2. Ride sharing
Services like Uber and Lyft had spiked in popularity and usage in recent years. Many people use Uber while traveling or for special events, but ride sharing is now an effective replacement for day-to-day transportation. With the addition of ride scheduling, commuters can plan pick ups and get to work on time. UberPool and LyftLine lower the cost by carpooling riders heading in the same direction. This can be an even more effective alternative to public transportation as well as car ownership.
3. Car sharing
Car sharing is the cousin to ride sharing. Instead of paying to get a ride, you pay to use a car for a set amount of time. The most popular service in this area is Zipcar. But there are other companies offering similar services. This can be similar to renting a car, but it is much much less expensive. You can pay Zipcar for just an hour or as long as a week. If you prefer to drive yourself, car sharing is a great alternative to owning your own vehicle.
If you're not a fan of these new apps and services, you can go old school and coordinate a carpool. Do you and your co-workers need a ride in to work? Hop in the same car. Have a neighbor who heads into downtown every day like you do? Ask to join him. But if you don't want to search for a carpool yourself, there are apps that can help you find a ride, like Waze Carpool. Carpooling helps clear up traffic and reduces the amount of pollution being released.
5. Last mile vehicle
If you live near your office or in a big city, owning a last mile vehicle might be more convenient than the other options. This can be an electric scooter, skateboard or just a regular bicycle. These are called last mile vehicles because they are typically used in conjunction with public transit to cover that last little portion of the trip. You can purchase your own bike or join your city's bike sharing program for more convenience. Owning and using an electric scooter or skateboard decreases your commute time and lowers the amount of energy you might have to exert. Nothing like fresh air on your way to work, right?
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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.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
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."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
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.