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3 Ways to save money when you have a small business
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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.

For single Moms - Pick up your free debt-free cheat sheet, get out of debt at msfinancialsavvy

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

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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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Save Money When You Buy a Used Car Part 2

Buy a Used Car Part 2
Save Money When You Buy a Used Car Part 2

This is the second part in the series of “Save Money When You Buy a Used Car”.  Many people ruin their credit early because they buy a used car from the wrong source, and don’t understand the process.  You have many options when it comes to buying a used car. Buying a used car the right way can save years of financial pain off your life.

MONTHLY PAYMENTS


Her son thought he had a good deal because his monthly payments were low enough for him to pay. The problem was, his payments extended over a period that made him pay three times what his car was worth.

The monthly payments are important, but not the main item you should focus on. The main items to focus on are 1. Interest Rates, and 2. APR (Annual Percentage Rate). Each of these items is determined by credit score and whether you are buying a new or used car.

You can decrease your interest rate and APR by putting down a larger down payment if you don’t have a good credit history. But, make sure you get the lowest interest rate possible, check your contract. Before you go car shopping, ask around for a reputable dealer.


EVERYTHING IS NEGOTIABLE


Since everything is negotiable, the first thing you need to do is to research the dealers you will visit. Their information is all over the internet, both local and national websites have information on used car dealers. If you are interested in used cars, look up several makes and models with the year, and research the prices.

Before going to the car lot, you should know the current interest rates and APR on used cars. You should also know your credit report and credit score. Ask the dealer to quote his interest rate and APR. Then ask him to show you a copy of his contract, tell him you must take it home to read it. Of course, he will emphatically say, “no”, if he has given you a bad contract. At least, take out your magnifying glass and read it. If this angers him, that may be a sign for you to leave immediately.


INFLATED USED CAR LOANS AND PRICES


Her son paid for several “add-ons” he was not aware of. The add-ons can include items that are already on the car or totally unnecessary, but with his purchase, were all “re-charged” to him. The items car dealers usually add on are 1. Service Contracts, 2. Rust Proofing, 3. Gap Insurance 4. Window Etching, 5. Credit Life Insurance, and anything else that is not necessary, but drives up the price of the car.

The only thing a used car buyer needs is car insurance, contact an insurance broker before you go car shopping, let him know you are buying a used car. He will work out coverage before you buy the car. Contact him from the lot to cover your car purchase. Refuse all the add-ons; all of them will inflate the price of the car well past its value. Download a copy of the “Easy Budget Planner” before you research car buying.

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Save Money When You Buy A Used Car The Right Way Part 2

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7 Ways Sane-Savings Can Protect You Now!

7 Ways Sane Savings Can Protect You Now

Many people complain that saving money, or what I call sane-savings, is a useless exercise in futility. I am told by so many people that they either can’t save money, or save it and spend it quickly. Here are some ways to engage in sane-savings, and save money that will create lasting and recurring savings accounts for you.

THINK BEFORE YOU SPEND

1. Think before you spend money anywhere — Is the purchase necessary and needed? The money you save from unnecessary spending can amount to hundreds to thousands a month, especially when it comes to credit card spending. Here is my personal mantra that you can use before you shop, this is the beginning of your sane-saving program:
Can I afford this easily?
Do I need this?
Do I want this?
Will this last?

START WITH THE JAR OF COINS

1. Many of you say you can’t save money, no matter what your income is, so here is a start. Save money in a large jar — it’s there if you need it quickly, the excess goes to your passbook acct. Start with a jar to get your savings off and run easily easy. Use a large vase, about a foot high, empty your loose change in it at least once or twice a week. When the jar is full, redeem the change for paper dollars, walk to the bank and put it in a passbook account. Leave a small amount of change in the jar for a dire emergency of gas, small food item or toll change. At this point, you are not concerned with interest or interest rates with a passbook account, you are only concerned with the accumulation of money. After you get enough money to concern yourself with interest rates you can open a brokerage account at one of the major brokerage companies and start a mutual fund for long term savings. I will discuss mutual funds later.

SAVE WHEN YOUR BILLS ARE HIGH

2. I meet a lot of people who say they can’t save because their bills are too high. Those people range in income levels from very low to very high. Some in the very high-income category tell me they don’t worry because their job saves for them through their pension or 401k plan. Saving in a retirement account through your job is great, but you must have savings for immediate needs, either for emergencies or general needs. My solution to the problem of savings is to make your savings a bill, and you will save as you pay your bills. In some cases, as you progress in your sophistication of savings, you will have multiple savings accounts, just as you pay multiple bills.

CREATE YOUR HIERARCHY OF SAVINGS

3.The most important thing when it comes to saving is that you have a hierarchy of savings, so you will always be prepared. That starts with the coins, then on to the passbook savings, then onto the investment accounts for regular savings and retirement savings. If you can save coins, you can save dollars, if you can save dollars, you can open an investment account and save in a brokerage account. It takes a little research to save in an investment account and research the right investments, but that is where I come in. As a Money Strategist, I can show you how that is done.

SAVE MONEY IN A MUTUAL FUND

4. When you accumulate enough money you can start to save in a mutual fund for your general long-term savings or additional retirement savings you can save in a mutual fund. They are also great for college savings. A mutual fund is, 1. easy to understand, 2. has experts manage them, 3. are liquid, and 4. are easy to research and track. There are many types of mutual funds and there is a learning curve, but that is one of the things I do as a Money Strategist also. I teach others how to research mutual funds.

SAVE IN A RETIREMENT ACCOUNT

5. If you are a married homemaker and your husband has a retirement account, you can save money in an IRA retirement account. Of course, some of you will have a job with social security and no other retirement, an IRA or Roth IRA are great ways to shelter some money and have a real retirement when you retire. Some of you have pensions and need a supplemental thrift account or 403b plan offered through your job, investing in your supplemental accounts will give you a good retirement. There are tax advantages to investing in an IRA, Roth IRA, or if you are in business a SEP-IRA or SIMPLE IRA. The tax advantages are also adding money to your savings.

SANE SAVINGS WITH EASY WAYS TO SAVE

6. With the easy ways to save you are generating sane savings. You will have your sanity and you will have money if you need it quickly in your large jar, then your passbook savings account, at this point the interest is not important – it is the accumulation of the money that will save your sanity when you need money quickly. Then there is the sanity that comes from having savings in a long-term index fund or income equity mutual fund. See my eBook Live Rich Save Money! Learn Investing (on kindle Amazon) to teach you about saving money in mutual funds. There is also that which comes from knowing that someday you can retire because you are funding your retirement account, but with retirement savings, the sanity comes from the tax deduction you get when you fund your retirement account. The sanity of knowing you are not wasting money but saving for the near and far future comes from sane savings.

LIVE RICH SAVE MONEY

7. Read, Live Rich Save Money! 68 Powerful Ways to Save, and go to my eBook Live Rich Save Money! Learn Investing to understand more about saving money. I offer Discovery Sessions to show you how I may help you with Mega-Money Management issues. Sane savings will protect your sanity around money.

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I have 7 ways sane-saving can protect you now

Avoid Debt Snowball And Get Debt Free in 7 Ways

AVOID DEBT SNOWBALL BY UNDERSTANDING: DEBT RUNS ON AUTO PILOT, BUT SAVINGS MUST BE COMMANDEERED, IF YOU ARE GOING TO ACCUMULATE ASSETS.

avoid debt snowball
1. IF YOU DON’T NEED IT, DON’T BUY IT, HENCE NOW YOU CAN START TO AVOID DEBT SNOWBALL

How many clothing items do you have in your closet that you don’t wear?
How many books do you have on your shelf that you haven’t read?
How many utensils or dishes do you have that you haven’t used?
Go through your garage, can you find things you haven’t unwrapped?
How much furniture do you have that you haven’t sat on yet?

If you answered an affirmative to any of these questions, you don’t need to keep buying items in these categories. Also, it would help your budget to get rid of some of the things you don’t need. There are also things you have in your possession, but have not used for years, these are things that you can consider getting rid of to pay off bills.


2. COMPARISON SHOP FOR THE BARGAIN ONLINE, BEFORE YOU HIT THE STORES

Internet shopping has revolutionized the way we shop in the past few decades. If you have little time, and are in need of major items, using the internet can save time, gas, and money. You can comparison shop at several single sites for the same item. There are many internet shopping malls that serve the purpose of comparison shopping and afterwards, you can purchase from the same mall. You can also comparison shop with stores in your own area. Using the internet shops first can also tell you if an item is stocked in your local store, so you don’t waste time and gas traveling.


3. IF YOU KNOW YOU HAVE A SHOPPING ADDICTION, STAY OUT OF THE STORES

It takes a little bit of discipline to admit that you may be shopping for the thrill of it. This is when you know you have a shopping addiction, and are not in need of most of the things you buy. In this case your money would be better spent on therapy to curve your shopping addiction or doing other healthier and less expensive activities.

cash flow journal, know where your cash flows

Track Your Spending For 90 days With This Cash Flow Journal


4. CONCENTRATE ON PAYING OFF BILLS WITH INCOME OR SAVINGS TO AVOID DEBT SNOWBALL

It sounds a little silly to say you need to pay off bills with income or savings, but some have gotten so heavy into the debt trap that they confuse money with debt consolidation programs – which is just more debt. Stay away from getting loans to pay off loans, this will help to get your debt snowball under control. Learn more from my eBook, Live Rich Save Money! 68 Powerful Ways to Save Money, Now and Forever.


5. DON’T USE DEBT TO PAY OFF DEBT, THAT’S CALLED DEBT REPLACEMENT AND INCREASES DEBT SNOWBALL

I said it before, save up some money or budget money from income, no matter how small and use that to pay off your debt. Most of us have to have some debt, but it should be in line with your income at minimum. Much of the debt we carry is emotionally burdensome and unnecessary. You can get out of debt forever, if you understand this.

save money with my easy budget planner

Create Your Best Budget With Easy Budget Planner


6. HANDS OFF YOUR RETIREMENT ACCOUNT, IT’S FOR YOUR RETIREMENT

When retirement age rolls around some workers have to wait 2 years, some 5 and others 10 or more years to retire because they used the undisciplined approach of spending retirement dollars before retirement time. Not only did they spend the dollars, but they had to repay interest and penalties for early use of the money. This makes no sense at all, unless it is a matter of life and death (your own), you should not touch retirement money until retirement time. The general rule of thumb is that you can safely take out 5% a year to retire on, after retirement. Most accounts can generate at least that much in interest to consistently replenish the account.


7. BEFORE A PURCHASE AVOID DEBT SNOWBALL BY ASKING YOURSELF, “DO I NEED THIS, DO I WANT THIS, WILL I USE THIS, CAN I AFFORD THIS, AND WILL THIS LAST?

This is my famous saying. It came as a result of my own years – long battle of spending, borrowing, and saving money. I finally got the saving part to dominate all others. Then I adopted the above mantra before I buy anything. Once I learned that at some point you can buy so much that you start to duplicate things you already have. At this point, it is usually bought if I need it, I am going to replace something that are no longer useful, or I am going to give things away to those in need.
In summary, stop your debt snowball by under spending and over saving. When you need something you can pull money from your savings or income. Keeping debt low works to keep your mind, emotions and finances, in good shape Get your debt under
control with my “Easy Budget Planner”.

Contact me here if you have questions about getting out of debt or questions about Mega Money Management.

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