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Tag Archives: saving money

3 Reasons I’m Trying to be More of a Minimalist

186173200_2017c43921_b

A few months ago, Kim told you about how she finally came to the realization that she’s always had too many clothes. Like her, I have been realizing more and more lately that not only do I have too many clothes, I just have way too much “stuff” in general. “Stuff” has always been a bit of struggle for me and honestly, I think it’s a struggle for most Americans, even if they don’t always realize it. Last night I was looking for something to watch on Netflix while I ate my supper and relaxed before bed. I’m kind of a closet reality TV junkie, especially when it comes to shows from HGTV. I don’t really like the trashy stuff like “Keeping up with the Kardashians” but now that my secret’s out, I’ll admit that if I have the time (which is rare these days thanks to self-employment) I can sit down and watch an entire season of “Love it or List it” or some other HGTV “reality” show. Of course I know that most of these shows aren’t really 100% reality. I’m not crazy after all. 🙂 But I still enjoy them. I thought I’d exhausted the entire list ...

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How to Fully Fund an IRA When You Have No Extra Money

saving for retirement

Everyone knows how important it is to save for the future but sadly, about half of families in the U.S. have nothing set aside for retirement. Whether it’s lack of access to an employer sponsored retirement plan, stagnant wages, or the lure of instant gratification that makes paychecks disappear, it’s clear that Americans are not saving enough. No one can make companies offer 401(k) plans, and it isn’t always possible to control what a job pays, but there are other ways to fund retirement, even when you seem to have no extra money. Set up an IRA If you’re job does not offer a retirement plan, it’s very easy to set up an IRA. I personally like Betterment for beginners because you won’t have to choose funds or rebalance, but there are many low cost brokerages that will allow you to open an account with no minimum. For 2016, IRA contribution limits are $5,500 with an extra $1,000 catch up contribution allowed if you are over age 50. A Roth IRA offers no tax benefits upfront, but any money deposited can grow and be withdrawn tax free after age 59 and a half. Singles earning less than $117,000 and married ...

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Tricks for Saving Money

saving money while gas is cheap

For years, we had the hardest time saving money. Although there was money coming in, it made the briefest of stops in our checking account and was out the door before we could even register a bump in the account balance. We used debt, busy lifestyles, and the Joneses as excuses and figured it was normal to be living paycheck to paycheck. After deciding to dig in and finally get out of debt, we also learned a few tricks for saving money along the way. Gas is On Sale, Save Up! Perhaps one of the best tricks for saving money right now is based on oil and gas prices being lower than they were two decades ago. Unfortunately, most people will end up spending any money saved at the pump. I have no problem with taking a cheap road trip to cash in on savings, but don’t waste extra dollars on eating out or even worse, buying a brand new gas guzzler just because you can. If I have learned anything during the years since obtaining a driver’s license, it’s that gas prices fluctuate. Everyone loves cheap gas. Then, once prices rise, out come the articles and testimonials about how ...

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Unconventional Ways for Finding Wiggle Room in Your Budget

finding more room in your budget

We’ve talked before about building your budget. By now you’ve probably also scoured dozens of different articles that promise to teach you how to reduce your monthly bills so that you have more money for savings and for fun. All of those articles have the same tips: use the library, don’t shop as often, buy in bulk. This article is going to be a little different. In this article we’re going to teach you some of the unconventional ways to reduce your monthly spending. Go to the Source A lot of people think that the only bills you can negotiate are credit card bills. This is not true! You can also negotiate (at least to a certain extent) your utilities and other bills as well. Start with you power bill. Scour that bill and look for any charges that seem unwarranted and then–this is where most people chicken out–actually call your company and ask about them or even dispute them! Getting unwarranted fees and taxes taken off your bill can reduce it by quite a bit. If you live in an unregulated area, like Texas or Illinois, start shopping around. For example, if you live in Houston, spend some time ...

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9 Easy Ways to Save Money as a College Student

how to graduate debt free

Let’s face it: the cost of a college education these days is enough to make you want to pull your hair out. From the tuition costs right down to the day to day expenses, if you’re not careful about your expenses, you could find yourself in a lot of debt before ever having landed your first job. So, how does one go about saving money while trying to obtain a college degree? Simple. All you have to do is make a plan and stick to it. Here are some suggestions to get you started: Create a Budget -The best way to save money is to have a budget. While this might not seem like a savings tactic, knowing exactly where every penny you’ve earned is going is a great way to analyze where you could find additional savings. Therefore, start by jotting down all the various expenses you have on the monthly basis. Incorporate the income you have coming in (student loan funds, money from parents, or income from a job). Keep track of this on the regular basis to ensure you don’t go over budget as every penny can count towards savings somewhere else. Buy Used School Supplies – ...

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