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3 Ways to Save Money When You Own a Small Business

Save Money When You Own a Small Business

Owning a brick and mortar business or an online business can both be expensive, I have done both, but there are many ways to save money when you own a small business.

So, you must know what to spend money on and how to limit and analyze your spending. If you don’t Spend on the right items, you will not have movement with your business.

After deciding the business structure, the importance of knowledge of the product, and your target market, then you have to find out how to get customers.

3 Ways to Save Money When You Own a Small Business

  1. Create a Marketing Budget

Most of the small business people I know spend a lot of time and energy on creating content or products but forget about marketing them. One of the most effective ways to get noticed is effective marketing.

The more you market, the more you are loved. Don’t fail to market because you don’t have a marketing budget, create one.

You can save money when you have a small business by doing your own marketing until you get established.

  1. Create a Monthly Advertising Budget

Advertising is trickier than marketing. The graphics and the text need to be ultra-attractive, otherwise, you will not attract any attention.

No attention means wasted advertisement. The best way to get effective ads, is to use an ad specialist.

Ad specialist study and know advertising better than you know because it is their constant study and analyses.

Ladies for peace of mind when you buy a car you must understand the rules.

  1. Create an Outsourcing Budget

You can’t grow alone. The best way to grow if you are online is outsourcing. There are people who specialize in the most minute areas from social media marketing to copy-writing.

There are many web businesses that specialize in providing an independent contractor who will work for you.

You save money when you own a small business by outsourcing due to the fact you don’t have to pay employee taxes and salaries.

 

The Secrets to Successful Home Buying for Women

Lois Center-Shabazz | Course Delta Agency
Personal Finance: Author, Blogger, Course Creator, Money Strategist

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Money Saving Tips For Single Moms

Money-Saving Tips

Creating a List of Money-Saving Tips is Essential for Single Moms

The list will vary considerably from one person to another. The money-saving tips working for a single Mom would be different than for a student, and a working professional and entirely unique saving methods would apply for a couple.

Being a single parent is not an easy job and this job becomes even more difficult when a single mother is pressed to save money. Life is not easy for mothers especially in today’s financial climate when single Moms must play the dual role of breadwinner and homemaker, therefore a lot of introspection is in order.

Single Moms Savings Creates Peace of Mind

Personal Financial Details

A single mother needs to take care of all types of personal financial details that exist, this is the main reason why financial success is possible.

If you are a single mom and looking for techniques to save money, then you’ve come to the right place. I will present you with some of the most successful money-saving tips available for single moms.

As a single Mom, you will understand there are many money-saving tips such as getting out of the debt trap, saving money for emergencies, and decreasing household bills.

Money saving tips for single moms

Save Money on Groceries

Groceries are expensive, but it is not impossible to save money on groceries. A mother is responsible for providing her children with a balanced diet and nutritious food. But a single mom is responsible for doing all this in an affordable way.

A single mom can save a lot of money by planning family meals in advance. You can also receive bulk and coupon discounts from most grocery and retail stores.

You Can cook meals in bulk that can be used over a period of 1-2 weeks when you freeze the excess. When you do this, you save on grocery expenses and save a lot of time and energy.

Try to purchase seasoned vegetables and fruit, and avoid expensive cuts of meat and off-season vegetables. As this will weigh heavy on your supermarket bills.

The Second-Hand Option!

Children are always full of demands. And in fact, I won’t be exaggerating if I say that their demands are never-ending. As a single Mom, you need to handle these demands without jeopardizing your monthly budget and savings.

You can save a lot of money by buying used toys and clothes for your kids and, and even for yourself. No one will ever know they are used after a good washing and ironing. 

Recycle for Savings

If second-hand clothes are not something you like, go in for recycling your clothes and save a lot of money on buying new ones.

There are several shops that offer second-hand products used and in good condition, and available at 70-80% of the original price. You can also sell your old clothes to consignment stores. 

Your discounts will include consignment shops, thrift shops, or Salvation Army type shops. You can see that there are many options for saving money on clothes, you can think of others.

Look out for discounts and coupons

The life of a single mother is full of struggles and difficulties but one should never feel hesitant or be shy about asking for discounts from some stores and shopping only for the lowest prices.

Take advantage of different types of shopping coupons, store loyalty, and reward cards. Make the most of your shopping experience by paying the lowest price as a rule and not an exception. Looking for discounts and coupons should be a part of your daily life. 

You can go in for kid’s clothes shopping during sales at regular stores and at deep discount retail shops when looking for money-saving tips.

Team up with other moms

There is one famous quote saying ‘Divided we fall, United we stand’,  this is an inspirational quote for all single Moms.  

Befriend single Moms in your area and form a group where you can all trade babysitting when any of the group members are in need.

Trading services has multiple benefits, not just saving money. But also don’t forget the value of fostering friendships within the group.

Organize group activities such as cooking demonstrations, excursion trips, picnics to nearby places with kids, and carpooling.

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Save on household bills

Household bills will always be with us, but unnecessary bills can be cut out. The process of saving money on household bills begins with cutting back on cell phones, cable, electricity, and water bills. Understanding how to decrease household bills is essential. 

Single moms can take advantage of the internet to compare various cellular plans and should consider discount friendly options only.

Always ask your electricity, water, or gas companies for a subsidy or discount.

Because many companies give subsidized electricity and other amenities at lower rates to people belonging to certain income groups. Take advantage of government offers for moderate-income people.

Single Mom's Helping Single Moms - ‘Divided we fall, United we stand'

The Tip Jar

For those of you who complain that you can’t save any money in an account. Start with a tip jar.  Choose any large jar in your home. Place it somewhere safe. This jar is for immediate money for emergencies.

Whenever you have an excess of change in your wallet or purse, place most of the change in your jar. In anywhere from 4-12 months, you will notice the jar filling up, depending of course on the size.

The larger the better, 1 to 1/2 feet high is good. With your tip jar, your immediate money for savings will grow in no time. 

Money For Emergencies Only

When you have an emergency you can turn in your coins to a local store coin deposit machine and get cash for something pressing.  Remember to
keep adding to your jar.

I suggest you open a bank account at a bank, a regular passbook savings account. At this point you are not concerned about interest, your goal is to accumulate money for a rainy day.

It doesn’t matter if it is $20 a month or $200 a month. Make this a bill, pay into the savings account every single month when you pay your bills, it’s even better if it is auto-deducted from your checking account or payroll check, that makes it easier. So, now your immediate money for emergencies can be taken from your tip jar or your savings account. 

Get Out of The Debt Trap

Debt is an integral part of the lives of a single parent, the trick is to keep it low. Many people know that debt is the enemy of savings, and to increase savings, one needs to get out of the debt trap as soon as possible.

I suggest you replace your big car with a small one or a big house with an apartment or a small manageable home. This is the start to get out of the debt trap.

Big assets acquired in the form of a loan only adds to your liabilities and increases the outflow of your cash by the way of down payments, loan installments, and big repair bills.

Get rid of bigger loans with huge installment payments, and high-interest rates;  and save up your monthly income for a healthy budget and securing your children’s future. You must get out of the debt trap to get finances under control. 

Summary for Money-Saving Tips For Single Moms

We know as a single mom, you know the importance of money and savings. This is the reason why you can see plenty of single moms working terribly hard from morning to evening to earn an income for their children.

There are many ways single-moms can save money and have peace of mind with finances. From ways to get out of the debt trap, creating money for emergencies, decrease household bills, to saving money on groceries and clothes. 

This is the reason why we’ve given you the best workable tips for achieving the task. Take advantage of the money-saving tips here and see your budget consistently improve over time. 

Money-saving tips for single moms from the get out of debt trap, money for emergencies, save on household bills, save money on groceries and clothes.

20 Smart Money Moves in 2020 For Long Term Financial Growth

20 smart money moves in 2020 for financial growth

What are smart money moves?

A smart money move is a tried and true method for creating financial growth and prosperity after education, research, deep thought, mentorship, and experience has guaranteed they will work. Here are some smart money moves for you to begin with, I will discuss:

  • Short term smart money moves you can start now.
  • Long term smart money moves that will permanently change you
  • Understanding the types of smart money moves that will save your financial life

successful home buying secrets for women

What are the three types of smart money moves that will benefit you?

1A. Short term smart money moves you can start now

It starts with a guerrilla budget. Judging from the way many of you spend money, I can see that you are not close to any budget, much less a guerrilla budget. A guerrilla budget, as defined by me is “your budget on steroids”. You become the master of your money, not advertising, not spoiled kids, not friends who have financial emergencies, not things you don’t need.

It is you, your tracking your spending and getting rid of everything that is not necessary. Sure, after you get your debt and bills under control you can budget in a few things you enjoy, but first you will start with paying your necessary bills with ease, getting your debts low, and creating a system to have emergency money for your emergencies only.

Learn to say the word no. If you can’t afford it, it should not be a part of your spending process. Your short-term financial goals for the new year should include the following.

  1. Create a budget planner

You know how much money you take home; you know where you are spending on things you can’t afford, so this is where you start.

  1. Track everything you spend

Sometimes you spend money that we are not aware of because we don’t pay attention to what we are spending on. Create a budget for everything you spend money on.

Budgeting, It's what you do with what you make

Maybe you can’t afford a necessary item this month, but if you pay off another item, or save enough money for a new item you need, you can get it in 3 months. Whatever you do, don’t keep charging for things you don’t have money or income for.

  1. Plan what you need

Write a plan for daily needs, weekly needs, monthly and for the year. Do you plan to return to school in three years? You need a plan for that. The plan should include an affordable public school where student loans are kept to a minimum and the education is an absolute must for your field.

Many people gain access to good paying jobs, without college, by working their way up in a company getting experience as they go. Many jobs will pay for you to take courses to gain knowledge and some will pay for a college degree.

  1. Plan what you want

Do you really know what you want? Don’t just take a stab in the dark, know what you want based on experience, knowledge, and research. Many folks get useless education or degrees because they did not research the field and understand “exactly” what is involved.

Occupations change over time, what was in demand 20 years ago, may have no demand now. But some people are still getting into fields with student loans and years of study, only to find out they made a huge mistake and there is no demand in that field.

5. Delete what you can do without, and may not want

Make a list of the things you have or are doing. Then make a second list of the things you can do without. From cable tv to going back to school. What is necessary right now? What can I do to make my life more affordable? What can I eliminate to help get out of debt? These are the questions you need to put at the top of your list.

What are long term smart money moves?

Ladies, it takes skills to purchase a home and non-owner occupied rental property

2A. Long term smart money moves

If you will ever have enough money, you must learn sane savings techniques, these techniques have been created by me for you. Your long-term financial goals should start with money all over the place. Sounds crazy, but it is possible, no matter what your income. There are many ways with these smart money moves.

  1. Start with the dollar and coin jar, save regularly here

Get two simple jars, at least a foot high. Every week empty a handful of coins in your coin jar, place at least a few dollars in your dollar jar, between $2 and $10 dollars. This money will accumulate until the jars are full. Don’t use any of the money until the jars are full.

When they are full, you can use them for inexpensive, minor emergencies. But they need to always be half full. When it gets full, take out the coins, redeem them at the store where there is a coin exchange, take the money from the coins and take half the dollars to the bank.

They will be placed in your passbook savings accounts. The remaining dollars will be used for your small emergencies or expenses.

  1. Don’t be afraid of a basic passbook savings account for emergencies. Yes, I said passbook savings account. This is your first great savings account. Now, I know what you’re thinking. You are thinking, “I am not getting much in the way of interest”.

The interest is not the important issue at this point. The issue is accumulation of funds for short term emergencies’ and long-term smart money moves. This is where we accumulate.

Your short-term smart money moves will be born in your passbook savings account. Everything sprouts from here. Try to put at least $50 to $200 a month in your passbook savings account.

  1. Use your overage in your basic account every six months to fund a higher interest account as you accumulate money in your passbook savings account, it will be added to pay off bills, purchase short term more expensive emergencies or add to a higher interest savings account.

  2. Use your passbook account to fund your needs

Write down your immediate short-term money moves as they relate to your needs. An example would be to pay off a $400 credit card balance when I accumulate $600 in my passbook savings account. 

  1. Use your dollar and coin jar to fund your immediate wants

The dollar and coin jar are for super short-term smart money moves as well as to fund your passbook savings account. A super short-term money move would be to fix the cracked screen on my cell phone or hire a gardener to weed and trim your over-grown yard.

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3A. Understanding the types of smart money moves that will save your financial life

If you don’t understand the smart money moves of big thing buying you can ruin your finances for a long time, buying cars, homes, and an education.

I talk to people all the time who tell me they wish they would have put more thought into purchasing a car, going back to school or even buying a home. There is never a rush.

Making the wrong decisions when it comes to major items can cost you hundreds of thousands of dollars you could have saved. Remember, you have many choices, and there is never a need to rush. Do your research, do your homework – identify all your options.

  1. Make “paying off” a car or credit card a goal

I talked to a young girl just a few months ago. She wanted to get her finances in order. I told her you have first start with critical thinking, not allowing advertisers to tell you how to purchase. They recommend high-profit items that benefit their pockets, not yours.

I told her the example of refinancing a car. She, said “STOP”, I already made that mistake. She said she saw an ad to refinance her car for a lower interest rate, she did and then her sister pointed out to her, “do you realize that you just added two years to your car note?”.

She told her, after looking at her paperwork that the two years she had left on her car loan was now four years with her new loan, adding an additional two years. She would have been better off paying a slightly higher interest rate she had and paying off the car in the two years she had remaining.

That was not a smart money move and shows how it happens when you allow propaganda advertising to influence you.

  1. Use the monthly budget you have from a payoff to save money

When you pay off a bill, you now have extra money, use at least half of that money to place in passbook savings. The other half will be used to put on other bills.

  1. Do research on a new car if you need it

New cars are expensive especially when you add the first-year warranty service and the cost of general maintenance and vehicle registration. So, look hard for an affordable new car or consider a CPO, or certified pre-owned car. These are cars that you purchase on the used side of a new car lot, they are less than 5 years old, have about a 150-point check and you get a warranty.

Free printables for small business and personal use at MsFinancialSavvy; Daily Action Form, Budgeting Form, and Savings Form

  1. Buying a home is still possible in some states with a middle income, start your research

Homes are getting extremely expensive in the larger more populace states such as California, New York, New Jersey, Washington D.C. as well as others. But there are many states especially in the south and mid-west where you can buy affordable homes if you are middle income. But I caution you to do your research, do your homework first.

  1. Set a budget for the home you can afford

The most important thing you can do before you think about purchasing a first home or even a second or third, is to set a budget. That budget is based on what you can afford after your down payment, after you have paid off bills, and after you have sold things you don’t need, an example would be a car with a large car payment, may be something you could get rid of.

16. Start a savings account for a home you can afford

After you establish your affordability index, you can now start to save for your new home. I have discussed the many ways to save money above, so you have many ideas. You will need to save for the down payment, the escrow costs, and any repairs that may be needed.

17. Choosing a college; there are no guarantees, research is paramount

Going to college in the United States is tricky these days. The number one goal should be to keep you and your parents out of debt. There are affordable public colleges, consider those first. Private colleges have a lot of hidden cost. For-profit colleges, (that is those that advertise on television constantly and are located online only, or in a strip mall or office building – usually no real college campus, they have quick classes), the cost is high, and the jobs are few. Some employers will not hire from for-profit colleges. 

18. Focus on finding an affordable not-for profit college, preferably brick and mortar There are many affordable non-profit public colleges. Do your research be through, keep student loans at no or low, very low.

20 smart money moves, finances are all emcompassing

19. Find great careers that don’t require college

There are many careers that don’t require college and some online course that are very cheap, but have great careers connected to them.

20. Research community college degrees that pay well, computer science, registered nursing, dental hygiene, at a community college you can get a certificate or an associate degree. From that degree you can get a great starting job, depending on the course matter or you can transfer to a 4-year college if your state permits.

The following demonstration shows you that smart money moves can and will put you on tract to great financial growth when you pay attention to the details.

Save Money When You Buy A Used Car, The Right Way Part 1

Buy a Used Car The Right Way

You may not be on the market to buy a used car, but at some point, your child, niece, nephew, grandchild or other relative friend or neighbor may be. Buying a used car can come with many “gotcha’s” that can ruin your savings. So, here are a few helpful hints.

WAYS TO BUY A USED CAR

There are many ways to buy a used car. Some are efficient and some are not. You can buy from a family member or friend and know the history of the car. You can also buy from the used car lot side of a new car lot, which is a good option when you go to a car lot.

You can purchase a certified used car, but it is a good idea to check out the VIN number any. The certified used cars are usually 3-4 years old and typically are in good shape.

You can also purchase a used car at one year old, from a rental car agency. You can also buy directly from a used car dealer, this requires a lot of homework on your part to make sure you have a quality used car, and you don’t get an over-priced car or predatory loan.

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A lady I spoke to at a seminar of mine told me she was concerned for her son. He went alone, to a used car lot and brought home a car. She was proud of him for taking the initiative to go alone, negotiate a car price and loan, and provide his transportation to and from work.

He was told the length of his loan period, but it was not true. That time period has long past, and he still owed a lot of money on his car loan. She could not understand how this could happen.

I told her to get the contract out, read the fine print, and get back to me. Before she contacted me, I told her what to look for. The following items are what she looked for, and sadly, many are what she found.

Credit scores can make or break your finances for car buying

GET INFORMATION ABOUT USED CAR LOANS FIRST

I informed her that she should talk to her son and tell him the importance of “doing his homework” before he makes a major purchase of any type. The next time he sees; “used cars for sale” – he should immediately start his research.

The first thing to do is to call the local banks and credit unions to find out what the going APR and interest rates are. Currently used car loans interest run from 2% to 5%. If you go to a used car dealer and he offers you 20%, you are better off riding the bus.

Alternatively, if he offers you a 7-year loan on an inexpensive used car, that is also a red flag — that something is wrong.

If you can qualify for a used car loan from a bank or your local credit union, these loans are far superior to the used car dealer loans.

You can get qualified from your bank or credit union first, then take your “evidence of loan qualification” papers with you to the dealer.

Learn car buying skills like a pro

DEALER INTEREST KICKBACK

The women I spoke to about her son’s used car loan informed me that her son’s contract stated he was paying 21% interest, he was told the interest rate was 9% by the dealer. Understand more about debt and money when you get your free ebooks on debt, money, and finances.

Used car dealers can charge something called a “dealer rate” over the “buy rate”. The dealer works with a lender who gives him the loan and allows him to “mark-up” the interest rate as he wishes, this is the “dealer rate”.

The dealer is not really concerned about the markup because he will get the difference between his rate and the lender’s rate, or the lenders “buy rate”. He uses the excuse that his clients all have bad credit, and are high risk.

That is not true, her son had good credit. His only problem was that he was a low-information buyer. The lenders “buy rate” is the lower rate the car buyer qualifies for — her son had a very low “buy rate”, but did not know it. Her son did not understand what the sign, “used cars for sale”, really meant, and neither did she.

A sad trick that some used car dealers’ play on low-information buyers is the conditional sale agreement. The buyer unknowingly signs a “conditional sale” agreement, after they have the car for a while, the dealer calls and tells them to bring back the car.

Used Car Buying Borders on Rocket Science,   -Lois Center-Shabazz

He then, informs the buyer that he/she must now sign a permanent sells agreement, but the interest rate has been increased.

Lois Center-Shabazz| Money Strategist | Course Delta Agency

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9 Ways Big Box Stores Like Costco Entice You to Buy More Than You Need

Big Box Stores Like Costco9 ways big box stores entice you to spend

Start with The Costco Website

First of all, big box stores like Costco entice you to sign into their website with your Costco card number, although they say that is not a requirement. Most of the prices on the website have discounts. So, that would place most of them on sale or to appear on sale.

There are “member only” items that entice you to click through and check out the price. Non-members online may be assessed a surcharge, and executive members may receive a credit for a 2% rebate.

People will cheat you if you let them

Coupons

Costco mails out a coupon booklet to card carrying members monthly.On coupon day many shoppers are seen around the store with coupon booklets in hand, after a mailing. The coupon booklet is not needed to get an in-store discount, but it makes it easier to identify the months Costco bargains. This draws shoppers to the store and to buy. The coupons are a powerful draw for the coupon addicted.

Discounted Items That Have a Purchase Limit

Many of Costco’s discounted items have a limited number of items you can purchase. The limit gives you the psychological mindset that there must be a lot of value in this item, so it makes your mind think you must buy to the limit, so you can get your share.

Because of this process, you end up buying more than you normally would in a regular grocer to make sure your mind knows it’s not missing out on a huge deal.

Car buying for women and girls.

Pre-Packaged Big Food at Costco

Food is packaged in 2’s, 3’s or 4’s. Most people don’t buy 3 or 4 of each item they need when they go to the regular grocery store, but in Costco they force multi-packaged items on you since the items are taped together in multiple numbers.

Because items are pre-packaged in multiples, we don’t even think to comparison shop the price, we just assume it is less than if you purchased it alone.

Costco Loves Sample Tasting

Sometimes on busy days there are tasting stations. Most of the tasting is for pre-made food items, sauces or frozen goods. After tasting items, many people automatically walk over and buy that item. I have tasted items, purchased them, and didn’t even use them after I got home due to allergies.

Product Placement as You Walk Costco Ailes

Upon entering the store the first merchandise that grabs the eye is some must-have seasonal products on the left, then the cameras, television’s, and computers on the right, and the expensive jewelry practically hits you in the face. Then before you get to the groceries, it continues to force you to look at clothes on the left, and other must-have but not-needed items.

Then you pass the attractive wine racks and beautifully appointed bakery goods. Finally, you get to the quadruple packaged meats, tripled packaged deli products, and then cheeses and fruit. It goes on and on, smartly placed to make your mind tell you to buy, buy, buy.

Containers and Packaging

In addition to the multi-packs of items in many of the big box stores like Costco, you will see a lot of large containers of items. This forces you to buy more that an average person would, and for most shoppers they will also settle on stocking more than normal, because they have more. This is great for large families, but it alse keeps busy people from making frequent shopping trips, so in that sense it great for everyone. Calculate the price per unit on each item to comparison shop at other stores, so the actual value reflected in the packaging is reflected in the price.

The Dress of the Employees

Lastly, most of the employees wear jeans and t-shirts. This gives you the feeling that you are in a super-discounted place, because even the employees dress down. No uniforms and no company logos on t-shirts.

Home ownership the right way-is pure joy

The No-Frills Warehouse Design

The no-frills warehouse design gives you a feeling of plain, simple and inexpensive overhead that will be passed on to you the customer. When you get to the counter the no-frills feeling is continued with the recycling of boxes the Costco merchandise comes in, these boxes are reused to hold your groceries and other items.

With items 1-9 above, you now know what the process is to saving money at big box stores like Costco. Go to the website first and establish what you need, then make a list, write down the price of each item and stick to your list with your new-found Costco shopping awareness.

Note how long each of the items will last you so you know when you need to shop again and how much you will spend in a one-month or two-month period. Costco warehouse can be a great way to save money, if you have what I call “Costco Awareness”.

Lois Center-Shabazz | Course Delta Agency

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Buying a New Car, The Pros and Cons

Buying a New Car

There are many pros and cons to buying a new car. Below, I attempt to outline some of the most important factors to consider before you decide which car is best for you.

Learn car buying skills like a pro, the pros and cons of buying a new car

NEW-CAR DEPRECIATION

Depreciation is the value cars loose after you drive them off the lot, different cars depreciate at different values. Some cars have a high depreciation rate, and some have a low depreciation.

Potential new car buyers research the depreciation schedule of the car you are interested in.

Depreciation will not affect you much if you plan to keep a car for several years, and you will eventually get the value for your car. But if you change cars in a few years you will be affected and may even lose money.

The pros and cons of new car buying, it takes skills

In the past, if a new car was in an accident you could lose money due to the difference in what you owe versus the depreciated value, this happens if you don’t put down a large down payment.

Now, there is something called gap insurance, that you can purchase when you buy your new car and put down a low-or-no down payment. Gap 
insurance doesn’t always work, but it sometimes helps.

There are many ways you can research the depreciation of the car you are interested in, by searching the many car analysis websites, before you decide on a car.

According to Edmunds, one on the many car analysis websites, on average a new car loses 11% of its value the minute you drive it off the lot.

During the first 5 years, the average car depreciates by 15%-25%. After five years the average car is worth 37% of what you paid for it at the dealership.

THE MOST EXPENSIVE WAY TO BUY

A new car is the most expensive way to buy a car when you consider the price of the car is at the top, and you must pay new car warranty service.

Insurance is the most expensive due to the loan value and replacement cost, and car registration or taxes are at its highest.

The ultimate guide to car buying for women
FIRST YEAR WARRANTY SERVICE

New cars have a warranty for the first year, and most have additional warranties for major items that go on for 5 to 10 years. To keep your first-year warranty active, you must get warranty inspections, usually about every 3 – 6 months. 

Maintenance schedules vary according to make, model, and car manufacturer, your dealer will give you the maintenance schedule.

A major area many inexperienced new car buyers forget to include in their budget is the cost of the new car warranty service.

Get this information from the car dealer, before you decide on your car. Some new cars have a hefty new car warranty service.

The cost of the new car warranty service is what causes financial problems for many inexperienced persons.

Find out what the new car service cost before you purchase a new car. It is required to keep your first-year warranty in effect.

RECALLS OR LEMONS

There are those who think if they buy a new car, they will have the perfect car with no problems. That is not true. Pay attention to the recalls on new or near new cars.

You can research the recall schedule for the car you are interested in. One person, I talk to about car recalls told me he was forced to park his near new car because he kept getting recall notices.

He got a total of 37 recalls by the time I talked to him and simply did not have the time to take the car to the dealer at that time.

If these recall issues are not resolved, it can cost thousands of dollars in repairs down the line if the car is passed on to someone who does not check for the recalls.

It may also make the car unsafe to drive if the recalls are not addressed.

LOW MAINTENANCE VERSUS HIGH MAINTENANCE CARS

Low maintenance cars have two advantages. One, they don’t take a lot of your time. Two, they don’t take a lot of your money. Constant unexpected major car repairs are a large part of budget busting.

You can look up car maintenance history on cars at all the car analysis sites. New cars with high maintenance schedule should be avoided, this is another hidden cost.

During the car note period and after the warranty period, a high car maintenance bill could cause you to park it until you have maintenance money.

A low maintenance car is a more affordable option. Some cars have a high repair rate as near new cars and some have low repair rates as used cars.

If the potential owner maintains a regular maintenance schedule, with regular oil changes and tune-ups, and when something goes wrong it will be taken care of early.

Long Term Performance

Some cars last for several years without major problems some only last a few years. Check out the long-term performance of your car to see if you have a high maintenance car that requires a lot of repairs as a used car.

New Car Research

There are websites all over the internet where you can research new cars for cost, depreciation, new car repairs, warranty cost and just about anything else you need to know.

The following come to mind – Edmunds, consumer reports, Carfax, Kelly blue book (kbb), and many more. The important thing is that you do your research before you buy the car.

The pros and cons of buying a new car

–Helpful Tools–

Lois Center-Shabazz | Course Delta Agency

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Big Thing Buying of Homes, Cars and Student Loans for Women

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3 Ways to Save Money on a Vacation and Still Have a Wonderful Time

Save Money on a Vacation

3 Ways to Save Money on Vacation and Have a Wonderful Time

There are many ways to save money on a vacation, with the understanding that vacations are expensive, for many the savings are crucial. Here I list just a few of the most effective ways to save money on a vacation. You can enjoy yourself if you spend a lot or a little, so why not save when you need to.

There Are Beautiful Places to Visit in the United States

  1. U.S. travel – everyone gets foreign travel photos in their social media news feeds on a regular basis. So, it is easy to get the foreign travel bug. And, of course you can find a full package for $2000 with an uber cheap flight and hotel packages purchased months in advance. The tricky thing is to research the airline safety and the hotel you will stay in.

As a less, expensive alternative: Say you look at beautiful local resorts, national parks, and big city tours for a full package flight and hotel for $600. You can pretend to suffer paying for the foreign travel package and put the difference of $2000-$600 = $1400. in the bank. You can also choose to travel by car which tends to be even less expensive than flying.

women can buy cars the right way

A Staycation Does Not Require Airline or Hotel Expense

  1. A staycation is something that appeals to people who haven’t done much to enjoy their own city, town or even home. If you live in an area where there are a lot of tourist attractions, you can do a staycation. Or, you have guest you would like to invite to hang out and see the local attractions with you, that would also be nice. The savings speak for themselves. The money that you save by staying close to home will go straight to savings.

Use a Windfall to Save Money on a Vacation

  1. Then there is the windfall, larger than expected tax return, or gift. If any of these occur, you can use half or less, of the proceeds to take an unusually nice extended vacation either U.S. based or foreign for the next few years. You can place it in a vacation fund. You will still save by putting away at least half of the proceeds into your basic savings. How much you spend depends on how much your windfall is. Don’t forget to tackle pesty bills you have had long term.

Here are just 3 ways to save money on vacation and still have a wonderful time, you can think of more.

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How to Buy a Car From a Private Owner

BUY A CAR FROM A PRIVATE OWNER 

HERE ARE 3 OF THE MOST USUAL WAYS CAR BUYERS BUY A CAR FROM A PRIVATE OWNER

The main things a buyer needs to look for is legal ownership, that the car has DMV registration, and a car that has no outstanding recalls or major mechanical problems.

If the car has major problems the seller should disclose all problems with the car, so the asking price will be based on the true value of the car.

Just as I have recommended before it is important to get the VIN# and license plate of the car. The first research with these items should be with your local department of motor vehicles – they will verify the legal ownership and registration of the car.

You can follow up your research with the online services that give you information about the car via the VIN# and license number.

Here are 3 of the most common ways to buy a car from a private owner:

  1. BUYING FROM A CLOSE FAMILY MEMBER, NEIGHBOR, OR FRIEND

The best opportunity is when you buy a car from a person you are close to because you are more likely to be familiar with the functions and mechanics of the car.

Also, a family member or close friend will be more likely to let you know what the true status of the car is. Even if you know the person well, it is still important to verify the status of the car–it’s ownership and legal status.

Learn car buying skills like a pro

  1. BUYING FROM A NEWSPAPER AD

This is a little more complex way to buy a car from a private owner who you are not familiar with. The verification process is crucial in this situation.

It is rare but, there are those who sell cars that don’t belong to them. They use false identification and sell stolen cars that have not yet been reported, or through some other process.

Because of the many ways strangers can sell illicit cars, it is important to take your time and go through a verification process. Start with asking for a driver’s license and car registration that match, before you look at the car. Make sure the car is insured before you test drive it.

  1. BUYING FROM SIGNAGE ON A PARKED CAR

Some cars are left on the side of the road by their owners with signs “for sale”. Those that are parked in the driveway of the owner’s home is the best bet because you have their address, if it matches the registration, it is most likely their car.

If it is parked on the side of the road, it may or may not belong to the seller. So, be cautious and go through the verification process.

Make sure you 1. See the seller’s driver’s license, 2. See the car registration, 3. Take the VIN#, 4. The license plate number on the car – all this should be taken to the DMV and other verification websites. Of course, again, make sure the car is insured before test driving it.

The ultimate car buying course for women

Buying a car from a private owner can be tricky, some have been found to be stolen, and some are simply bad cars. Remember to always get these cars checked out by a mobile mechanic.

And, make sure the VIN#, which appears in the lower corner of the front windshield always matches the car description.

From the VIN#, you can also get the history of the car such as reported car accidents, totaled out cars that are patched, flooded cars and history of owners.
An excerpt from the eBook, “The Ultimate Guide to Car Buying for Women” by Lois Center-Shabazz

Lois Center-Shabazz | Course Delta Agency
Personal Finance: Author, Blogger, Course Creator, Money Strategist

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The ultimate guide to car buying for women

The ultimate guide to car buying for women

3 Surefire Ways to Save Money on Car Buying

3 Small but Powerful Ways to Save Money Now

3 power ways to save

Small But Easy Ways to Save Money

Start small for easy ways to save

These suggestions are small but easy ways to save money for many reasons, here are three. Most people don’t save because they feel overwhelmed by the amount of bills and emergencies that come up constantly. Start with small savings and work your way up. Place a jar on your dresser and fill it will extra coins from your pocket or wallet daily or weekly. This is only a start, but it is doable. Before you know it your dollar jar and your coin jar will be full, use this to start a passbook savings account. This is your first savings account. Later, I will tell you about other types of accounts as you become a more advanced saver. 

quotes, bugets-the more you have the better for you

Save by saving on everything you do

The daily and weekly things you must do are the things you should save the most on. Examples are gas, groceries, and utilities. Keep a record. This takes only a little time. You can keep a short journal or a small spreadsheet. Start at home first by creating a monthly budget. The more you budget, the more you will save. At first it will not seem that way, but the longer you do it the more you will see. 

Figure out a way to keep your saving diary with you at all times and use it. The habit will become normal and before you know it, it will be second nature.

Windfalls are the easiest way to save big

When you get a big tax windfall, refund, or inheritance, use a portion to pay off or down bills (this saves on monthly cost), place a portion in savings and use the rest to buy what you need, and a small portion to buy something that is affordable and makes you happy. 

Learn car buying skills like a pro

The windfall seems natural to add to your savings. But, if you don’t get into the habit of thinking of using a windfall to get a head financially by paying off bills or buying things you need for cash, you could risk a bigger debrt trap. For instance, many people find themselves purchasing a major item they don’t need with their windfall and creating a large debt instead of paying cash. This makes your financial situation worse. Think in terms of using a windfall to make your life better.

Create a windfall diary. Know what you will use your windfall on. The more precise you are with reasons to go with each idea, the more likely you are to use your windfall to improve your life.

powerful ways to save money

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Personal Finance: Author, Blogger, Course Creator, Money Strategist

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How to Buy a Car From a Used Car Lot For Women

Buy a Car From a Used Car Lot

If you must buy a car from a used car lot, here are some helpful suggestions to protect your safety and your finances.

1. RESEARCH CARS THAT PERFORM WELL AS USED CARS

Before you think you can buy a car from a used car lot, especially if it is five or more years old, do a search for a similar make, model and year online. Find out 1. what buyers and dealers are asking for that make and model with x number of miles on the car, 2. What is the maintenance history of the car from frequent breakdowns to cost,  3. How long does this type of car last without major problems?

With this knowledge, you won’t be inclined to overpay for a car on a used car lot, since you know the maximum you should be charged. Used car dealers get their cars from various sources, 1. Some are from car auctions where cars are rejected by new car dealers, who take used cars as trade in’s for new cars. 2. Some cars are purchased directly from sellers, 3. Some cars are obtained illegally – this is where VIN# and license plates are important to investigate.

Learn car buying skills like a pro

2. SHOW ME THE CARFAX AND DMV REPORT

If the used car dealer tells you that you don’t need a Carfax, DMV or other reports with your car, go elsewhere. The Carfax report, as well as other reports, can tell you if you are looking at a bad car. I consider it a bad car if it has been in an accident–and was considered totaled, or a  flood, or has an excessive number of owners, or if it has a questionable title.

Make sure you take a picture of the VIN# with your cell phone ( it is on the lower windshield), then you can go home and get your own Carfax report and check with the DMV that the car has not been reported stolen or severely damaged. Periodically stolen cars find their way onto used car lots.

3. DON’T BUY A USED CAR FROM A USED CAR LOT UNTIL YOUR MECHANIC CHECKS IT OUT

This sounds like a lot of trouble, but it can save you a lifetime of pain and financial loss. There are mobile mechanics you can pay to meet you at a car lot and look at the car you are interested in. Make sure that mechanic goes over the car thoroughly. If it is in bad shape, listen to the mechanic. Some dishonest used car lots sell badly damaged cars that look ok on the outside.

Some used car lots sell certified used, with an expensive warranty, but they are known for not certifying their cars. Have your own mechanic certify the car before you think about buying it, if your mechanic says the car is ok to purchase, consider putting the certification money in the bank, so you can fix it as needed.

The when you buy a car from a used car lot and get and purchase a warranty, a certified warranty can cost as much as $2000 or more.


4. IF THE CAR YOU ARE INTERESTED IN IS LESS THAN 5 YEARS OLD

See if a car less than 5 years old has the original manufacturer’s warranty with it. Many cars are sold with a 5 year or 10-year manufacturer’s warranty on the powertrain. The original manufacturer’s warranty could be voided for many reasons, including if the original owner did not take the car in for warranty servicing during the first year or if the car was in a bad accident or flood.


5. Women, Please Take a Man With You

Ladies, don’t go it alone. I was told growing up not to purchase a car alone. Especially a used car because, unfortunately, there are still far more men who study car maintenance than women. Many men will know immediately when a car is started if there are serious problems. If not after starting the car, they can see if there are things under the hood that signal major problems.

With this said, please take a Dad, a brother, a best male friend, a boyfriend or husband when you feel that you have to buy a car from a used car lot. Unfortunately, I have a few very sad stories of women who went to buy a car at a used car lot alone and the results were disastrous.

Save Money, Don't Get Cheated When Buy a Car


6. IMPORTANT NUMBERS TO CHECK ON A USED CAR

The VIN# tells a lot about a car. You need it to verify that the car is in sellable and buyable condition with the car report services such as carfax.com, Kelly Blue Book, or kbb.com and your state, DMV (Department of Motor Vehicles). The next most important number is the license plate.

These numbers will tell you if the car is registered to the current owner which should be the used car dealer. I know a few people who found out their car was not registered to their used car dealer after an accident or ticket.

They found out the 30-day temporary registration was never valid, and they never got their “pink slip” or legal ownership paper. If you don’t get a “legal registration” in 40 days, contact the car dealership, then the DMV.

The car should be registered the same day you purchase it at the dealership if it is a legitimate dealership. There was a recent news story where people had new – used cars confiscated from their driveways, the VIN# on their cars were traced to a stolen car ring, but each of the individuals purchased their car from, what they thought, was an honest used car dealership.

Don’t be in a hurry to buy a car from a used car lot, take your time, check it out.

Every used car is required to have a “Buyers Guide” affixed to the car window, it gives information such as a no dealer warranty, or dealer warranty. Read the “Buyers Guide” sticker on the window carefully, when it says “as-is” that is what they mean, as the car may not run after you leave the lot, but you do have 3 days to rescind your contract, so get the car inspected quickly.

Far too many people never read the sticker on the window called the “Buyer’s Guide”, and pay for their negligence later.

When you buy a car from a used car lot the process is very serious. You must know that the car lot has a good reputation and sells good, legal car or you could suffer for years to come with a bad car, a bad loan or both.

Excerpt from the eBook “The Ultimate Guide to Car Buying For Women” by Lois Center-Shabazz

Lois Center-Shabazz | Course Delta Agency

Interested in a Free Discussion about how I can help you with Fantastic Finances? Let’s Chat – Make an Appointment Here

->Get Your FREE Fantastic Finances Tips Course by eMail

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Resources: Federal Trade Commission, Consumer Finance Protection Board

Get Resources: The Free Personal Finance and Small Business Tools

The ultimate guide to car buying for women

The ultimate guide to car buying for women

buy a car from a used car lot

Save Money When You Buy a Used Car, The Right Way Part 3

Save Mony When You Buy a Used Car, The Right Way Part 3
Save Money When You Buy a Used Car, The Right Way

Save money when you buy a used car is the third and final part of buying a used car article. This is information about buying a used car that no dealer will tell you You can use this information to keep yourself, your loved ones, and your friends from wasting your savings on a car or car contract that may not be in your best interest or may cause you harm for many years to come.  You can read part 1 and part 2 if you have not already read it.  Click “Blog” at the top tool bar her.

DONT GET STUCK WITH A CONDITIONAL SALE AGREEMENT

A sad trick that some used car dealers’ play on low-information buyers is the conditional sale agreement. The buyer unknowingly signs a “conditional sale” agreement, after they have the car for a while, the dealer calls and tells them to bring back the car. He then, informs the buyer that he/she must now sign a permanent sells agreement, but the interest rate has been increased.

To avoid a conditional sale agreement when you first purchase a used car, it is important to read the contract and its fine print before signing. But, the time you sign your first original contract, he has probably given you a lot of bad product if you have not been diligent. If he feels you may be a gullible, person by now, he will close with a conditional sell agreement. Avoid a conditional sale agreement by questioning everything, and reading your sell agreement before you sign.

CAR DEALERS WHO CHURN USED CARS FOR SALE

Many used car dealers sell the same car over and over. This is called churning. Because of the large “dealer rate” for loans, the add-on’s that over-price the car, and the hidden conditional contracts, many used car buyers end up getting their car repossessed. The car dealer knows this is a possibility, but creates the environment so they can “resale” a car over and over. The buyer goes into bankruptcy because they have no options — in most cases. Many of these cars have major mechanical problems, so the dealer knows the car will either stop running soon, or the person will bring it back to the lot. In either of these cases, he can resale the car. Make sure you have a mechanical evaluation before you buy a used car, take a mechanic friend with you or pay a mechanic to evaluate it on the lot. There are mechanics who advertise, “used car lot – car evaluations”.  Research new and used cars at kbb.com and edmunds.com.

ARBITRATION CLAUSES

Because most contracts for used cars come with “arbitration clauses”, the buyer has no options for getting out of a bad contract, on a bad car. In some cases, paying for Arbitration can be more than the car cost. Another big problem is that the arbitrator usually sides with the car dealer. The least expensive and least biased option would be, Small Claims Court — but it is usually not in the contract unless you demand it be put there.
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Save Money Buy Used Car Part 3

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