Home > Author Archives: Glasses or Contacts (page 10)

Author Archives: Glasses or Contacts

How The 50/20/30 Rule Can Help You Budget Your Money

How to balance your budget

There’s one thing that many people have in common, regardless of age. That’s that, many of us want to learn to better budget our money. One of the big problems with this process is the amount of work that’s involved. I’ve seen some budget spreadsheet templates that have more than 20 fields for categorizing purchases. Let’s face it, categorizing each and every product is highly unrealistic, and can be discouraging. Nonetheless, there’s good news. Not all budgeting systems are quite so hard to follow through with. In fact, I recently came across the 50/20/30 rule, and it has made budgeting much easier for me. I believe that it can do the same for you. Here’s how it all works: The Basic Concept Behind The Rule The basic concept behind this rule is that for most, budgets can be simplified with 3 broad categories. In doing so, managing your money takes much less time. With the 50/20/30 rule, each number represents a percentage of your income to be used for each one of the three categories. Category 1: Base Expenses The first category is also the largest. Base expenses mean expenses with fixed costs. For example, your mortgage payment, car payment, ...

Read More »

Expand Your Portfolio and Invest in Forex with XTrade

Anybody knows that a diversified portfolio is the safest way to secure your assets, no matter what age you are. You need to be sure your investments are spread across a wide range of items such as stocks, bonds, mutual funds, properties, and other tangible items. This is relevant no matter how much money you have: it doesn’t matter if your net worth is over $1 billion or an average couple hundred thousand dollars. Nowadays, there are other assets to consider besides the traditional investments that make up most people’s portfolios. One of those items is the currency market. For savvy traders, forex can be a great investment tool and a way to make money off of the capital they already have. If you don’t know what forex is, you should take the time to investigate this rapidly-growing industry. As access to the internet becomes more widespread and available across the globe, the number of forex traders is growing exponentially because traders are signing up to take advantage of what forex trading has to offer. Trading Forex With Regulated Brokers Like XTrade There are a number of different brokers to use when trading foreign currencies and it has become difficult ...

Read More »

The Cost of Commuting: How to Save Thousands on Transportation

Today we have a guest post for you from a new blogger, The Early Retirement Engineer. Most people that set out on a money saving expedition invest untold hours into coupon clipping and bargain shopping. While these can indeed save a few bucks, what if there was a simple way to save thousands of dollars every year simply by questioning and reorganizing an aspect of modern society that everybody now takes for granted, transportation? Let’s begin with the average number of miles per person driven in the US every year, 14,000. How much money do each of those 14,000 miles cost you? Hint: it’s a lot more than just the cost of gas. Every year, the IRS calculates mileage reimbursement rates that, in theory, equate to the average cost of driving. Fuel comes to only around 30% of the total cost, dwarfed by the 45% in depreciation, and followed by 12% in insurance. In 2016, with fuel astonishingly inexpensive, the estimated cost of driving 1 mile is $0.54, meaning the average driver shells out $7,560 (and hundreds of hours) every year for the privilege of sitting in a climate-controlled box while spewing out carbon byproducts and smog. In a two-driver ...

Read More »

4 Red Flags Entrepreneurs Must Know to Avoid Financial Lending Scams

Every entrepreneur must be careful in trusting lenders or lending companies all the time. It is better to ensure your business’ safety than be sorry in the end simply because of believing dishonest people. You have to first research thoroughly about the company where you plan to borrow money and make sure everything is legitimate. There are numerous lending companies out there that offer business owners a comprehensive funding service. However, it is your responsibility as an entrepreneur to know if these are licit or not. You must take your time in finding out if a certain company operates legitimately or is a credible one. Since there are a lot of business-related scams that are happening everywhere these days, you really need to be extra cautious and never give your trust easily to anyone. Apparently, there are still reputable companies out there, like Kikka, which offer legit business finance services. All you have to do is to verify the company, check each information provided in their website, and meet them personally. More so, take a look at the following red flags of a business loan scam to avoid any fraudulent operations: Up front fees A sure fire way to know ...

Read More »

Cutting Out Bad Spending Habits

the budget breakdow

Today we have a guest post for you from Timothy Carter. Enjoy!   As we all know, bad spending habits are easy to fall victim to. We go into the grocery store for a few small items and $200 later we come out with a grocery cart full of stuff! Unfortunately having little self control over our spending can be harmful to our finances, especially in the long run. Once we are able to take control of our spending habits and establish a budget, we will see that we have big potential for a bright financial future. Record In order to cut out unnecessary spending we need to find out where and what our money is being spent on. Start by recording all of your expenses. There are a few ways you can do this: keep all of your receipts, view your bank account transaction history, or physically write down each item you purchase. I prefer to write everything down as I feel it keeps me more involved and I am able to categorize my expenses. Record every purchase you make, each day for a month in a small notebook. Since the goal here is to track your spending down to the penny, we need to ...

Read More »