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How to Make Room in Your Budget for Healthcare Costs

Healthcare costs have been a hot topic for the last several years. Part of the reason for that, of course, is due to the ever increasing costs which have risen sharply during the same period. Obama’s healthcare reform has appeared to make the situation at least as bad if not worse than it was before. But unfortunately, we Americans are in the same boat: Stuck with the problem of how to make room in your budget for healthcare costs. Re-examine Your Budget One thing you may have to do in order to enable you to cover healthcare costs is slash some line items in your budget. According a recent survey by Coupon Dash, some US families are giving up expenses that may be considered extras by some people. Meals out, gadgets, and vacations are just a few of the hard hit areas taking a cut in personal budgets so people can better afford to pay their healthcare costs. Some of these budget cuts may be justified. For instance, getting healthy or staying healthy may be more important than eating out a couple of times a week. Instead, it’s possible you may have to limit that activity to only once or ...

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3 Shocking Truths About Early Retirement All Millennials Should Know

A lot of millennials seem to take their work for granted, failing to save and prepare for an inevitable future beyond work. But, as Aristotle said, “Good habits formed at youth make all the difference.” By being prepared for retirement, you’ll be able to enjoy life when older. Early retirement is a privilege. It is a sign of life lived with careful consideration and planning. It is only when you have put aside a sizable nest egg that you can afford to stop work and enjoy your independence. The following truths about early retirement will shock you. Pension isn’t guaranteed Unlike the time of Generation X when the government pensions were a reliable certainty, it will be different in the future. With economic instability and financial devaluations, you will be forced to rely more on your own savings than your employer’s or the government’s. It is better to start making plans early so you won’t have to keep working when you are supposed to be resting. A percentage of your earnings should be kept in a separate account each month. Consider alternative investments such as stocks and bonds to diversify and multiply your income sources. Your health is at risk ...

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How to Quickly Build Equity in Your Home

How to Quickly Build Equity in Your Home

As a homeowner, you may want to build equity in your home sooner rather than later for a variety of reasons. For example, you might want to build equity if you didn’t make a down payment of 20% of the home’s value. If that’s the case, you may be stuck paying for private mortgage insurance until you reach 20% equity, like I am. But no matter the reason, there are several ways you can quickly build equity in your home. 1. Use Your Tax Refund Did you get a tax refund this year? If you did and you haven’t spent it yet, you could apply that money toward your home mortgage. By paying down the loan against it you can increase the equity in your home. 2. Increase Your Monthly Payment If you have extra room in your budget, use the money to make larger payments toward your outstanding home mortgage. Make sure the extra money you pay each month goes straight toward the principal on your loan. With some companies this is automatic, but with others you have to specify how you want the extra money you’re paying to be used. If you don’t specify, they may apply it toward ...

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Pros & Cons of Tiny House Living

tiny house living

The tiny house movement has become a big deal in the last couple of years. I think one of the reasons for this is because we are rebounding from the way new homes seem to be getting bigger and bigger. Additionally, more and more people are looking for ways to save money and living in a tiny house can, no doubt, help you save. But along with the savings you get from living in a tiny house, there are disadvantages too, so let’s take a look at the pros and cons of tiny house living. Pros of Tiny House Living: 1. Saves Money Of course, I already mentioned the money savings, but now I will list some examples of how tiny house living can help keep money in your pocket. Maintenance and repairs on a smaller home will obviously cost you less when the home is smaller because painting or siding a smaller area is cheaper. If your tiny house needs a new roof, think of how much you could save when that project needs to be done. But in addition to exterior maintenance there are other money saving features as well, such as lower heating and cooling costs, less ...

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5 Money Tips for a Frugal Spring

This is a guest post from Pauline of InvestmentZen.com Spring is just a few days away, and what better time, as we start enjoying the warmer weather and longer days, to implement some good money saving habits? I know during winter I generally have lower energy, and when it’s dark outside, I feel more like a hot chocolate and a movie in bed than hustling. So let’s enjoy the new season and start on the right foot! Start a garden If you have a garden at home, starting a little vegetable patch is a fun and inexpensive hobby, that will give you delicious fresh vegetables come summer. Depending on where you live, you can start right now or in a few weeks. And if you do not have a garden, how about some herbs on your balcony? I even had tomato plants out my window one summer, they don’t need a lot of space. There is something very rewarding about growing your own vegetables. Pay attention to what your neighbors are planting, to see what the best species are for your location and climate. If you are in an arid area, watering your patch is going to be costly, but ...

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