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Saving Money

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 ...

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6 Ways to Avoid Money Scams

Avoid Money Scams

Scams are everywhere these days, and as technology improves and changes, so do the tactics of criminals who are out to take your money. The good news is that there are ways you can avoid money scams. Here are 6 ways you can prevent yourself from becoming the next victim of a money scam. Pay Attention When Shopping Online The holidays are coming up, which means an increase in internet traffic for those who make purchases using the internet to whittle down their gift lists. As you shop, if you need to enter information on a computer, use caution and check to see of the URL of the page you are on starts with “https.” This means the site is secure using an SSL Certificate.  Companies must go through a validation process to get this certificate, and the “s” in “https” stands for “secure.” If no “s” is present, the site could be a scam. Email Scams If you don’t recognize an email address or sender, don’t click on any links or open messages. Watch out for subject lines that include promises like “free vacation” or “you’ve won!”. These suspicious emails are often a criminal’s way of phishing for your ...

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How to Save Money Without Missing It

How to Save Money without Missing It

Usually when you read a post about saving money it involves making drastic, and sometimes difficult, changes to your spending habits in order to achieve your budgeting goals. But wouldn’t it be nice if you could make a few changes, save some money without missing it, and not have to suffer from a complete upheaval of your life? I like my lifestyle and I’m personally not willing to go to huge extremes to save money and pay off debt. Of course, I still want to get more financially secure, but I’m not going to do things like sell my car and bike everywhere, or cut my own hair just to save a few more dollars. (My hair would be a disaster if I tried to DIY it.) Instead, I look for ways to make small changes and save money without missing it. Here are a few ways you might be able to do that same. Switch Off & Unplug Electronics If you aren’t using it, turn it off. This applies not only to the lights and televisions in your home, but to the appliances as well. Some can still use electricity while shut off, so whenever it’s reasonable to do ...

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Keep Your Eyes on Your Dollars

This is a guest post from Pauline of InvestmentZen.com I always thought the name of this site was a clever word play between Kim’s optometric career and her interest in personal finance. But the message goes further than that. You need to keep your eyes on your dollars or they will disappear before you know it! I am a bad example when it comes to tracking every penny, but once in a while, I will have that “spring cleaning” moment, where I scrutinize every line of my online banking statement to look for occurrences where my money disappeared without me noticing. Last week was one such week. I had been home, in Guatemala, for less than 10 days. Yet I noticed I had taken over $1,000 in cash out of my account. While I don’t know how much I spend exactly while I am there, $3,000 a month is far from it. Where did the money go? Well, there were a few expenses to fix my guest house after we had a hurricane damage things. There was a vet bill because a neighbor shot my dog. Yes, it was an eventful week. But after that, the rest was pretty much ...

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Change Your Finances By Thinking Like a Millionaire

Can changing the way you think really impact your finances and help you get closer to your goal of becoming a millionaire? Many people, including some financial experts, would say the answer is yes. This doesn’t mean you can simply sit around and visually will yourself into becoming a millionaire while putting in virtually no work or effort. What this instead means is that if you can change your mindset to be more like a typical millionaire, you’re more likely to not only create your financial goals but be more prepared to achieve them. Below are some simple ways to shift your thinking, and in the process, achieve a better financial life for yourself. Write Everything Down Think about all of the ideas you have during the course of a day or a week to make money. They probably pass through your mind all the time, but then just as quickly you may forget them. What’s important to realize is that if even just one of those ideas were a really good one, it could change your course completely. If you were to have a chance to meet with some of the world’s wealthiest people, you would likely see this ...

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