When You Should Spend Money to Save Money

When You Should Spend Money to Save MoneySaving money is always a good idea, especially in challenging economic times. However, sometimes you have to spend money to save money. While that may seem counter-intuitive, there are good reasons to pay extra on an expense now that could save you hundreds or thousands of dollars in the future.

Pay Extra on the Mortgage

Making one extra house payment a year can reduce your overall mortgage balance by several thousand dollars over the life of the loan. You can make that payment from an income tax return, a job bonus, or the sale of unused household items.

To accelerate the payoff on a $200,000, 30-year mortgage with a 5% interest rate, make an extra $742 house payment each quarter, and you’ll save $69,483 in interest and pay off your loan 10 years early!

Check with your mortgage lender about possible prepayment penalties in your loan terms that could prevent you from making extra payments or paying your home off early. Paying extra now can help you pay off the mortgage sooner and free up that hefty payment each month.

Buy a New Car

Instead of driving a beater that requires frequent repairs, invest in a newer model car that comes with a warranty and is in good condition so you will have reliable transportation. Putting a car in the shop for repair and arranging for alternate transportation can be very inconvenient and even costly. When you buy a reliable late model or new car, you can rest easy knowing your vehicle should drive safely and consistently. When you pay off the car, and if you can do it early, you will have a great running vehicle that has been well maintained. A good car can last a decade or longer if you take care of it. Instead of driving something that may not get you there safely or at all, consider a reasonable car payment on a car that will get you where you need to go and eliminate costly repair bills.

Earn a College Degree

There are many ways to earn college credit these days whether you go full-time or take an occasional class. Some courses are offered online, making it convenient to study from home based on your schedule. Various kinds of financial aid are available, from loans to scholarships to grants. Some employers pay tuition remission when employees maintain an average or above grade point average. A college degree has been proven to provide a generous return on investment in career opportunities, so getting a degree is rarely wasted.

Buy a Coupon Discount Book

A coupon discount book for a modest fee offers discounts or freebies on items you need or enjoy. For example, you can find many restaurant coupons and entertainment discounts, and also helpful services like dry cleaning or car rentals at reduced rates when you buy a coupon book. You can also find two-for-one deals that you can share among family members or with friends. Check out vendors featured in a coupon book to be sure they offer services you will use. Spending $20 or $30 could save you hundreds.

Buy Yourself Gift Cards.

Some supermarket chains offer cash or discount incentives for buying gift cards at their store. For example, if you buy a gift card for a product that you would use anyway, such as a coffee shop or restaurant, not only will you have the card available in preparation for your next visit to that vendor, but you may earn bonus points at the supermarket for things like fuel discounts. You may also earn discounts or cashback fees on hair salon visits, dry cleaning, and other valuable services. Check with your favorite supermarkets to see if they offer gift card purchase incentives. You might be able to double your benefits by purchasing gift cards to earn bonus points that offer reductions for things that you would purchase anyway.

In planning your monthly budget, invest in a few key initiatives that will save you money in the long run. Spend a little time reviewing available opportunities to find those that will maximize your purchasing power. Be careful not to spend more than you can afford, and don’t get caught up in the excitement of saving money to the point where you crimp your budget. Buy with an eye on the future.

How To Live In Your Car Without Anyone Noticing

How To Live In Your Car Without Anyone NoticingSo you just got canned, sending your financial situation into a tailspin. Next month’s rent is looming, your fridge is essentially empty, and you promised to take out a lady friend this Friday — what do you do? Tap into your savings? Sell off your valuable goods? Get a loan? Those may seem like quick ways to get instant cash, but do they benefit you in the long run?

Well, don’t fear, for there is one often-overlooked option to keep you afloat during your personal financial crisis: living rent-free in your car.

I know, I know, you’re used to the modern luxuries of 2016, but I’m here to convince you that temporarily giving up a few those comforts and living in your vehicle can go a long way in terms of getting your finances in order — and the good news is you can do it without anyone you know noticing. Here’s some helpful information on how to get by until a new job rolls around:

Get a Gym Membership

This first step is essential — the hardest part about living in your car is the obvious lack of restroom facilities. Getting a gym membership, preferably one that is open 24/7, is a great way around this problem as it gives you access to both a toilet and a shower for a low, monthly reasonable price. This way, you can keep up with your personal hygiene routines and skip out on looking like a hobo to your friends, family, and potential new employers. And hey — you also get an air conditioned place to work out in as well!

Cost: $30-$50 a month at gyms, $10-$20 a month or possibly free at college campuses

Make sure your car can generate the electricity you need.

Let’s face it, in today’s world, we’re all plugged in all the time, and there’s no need to change that. Using the combination of a good cigarette lighter converter and a portable solar battery, you’ll have the tools to charge nearly anything: your smartphone, laptop, or iPad. They can even be used to power small, 12V cooking appliances, such as a portable skillet or water heater. Just make sure to balance out your electricity consumption with charging your vehicle’s battery with its alternator.

Cost: $20-$40 for cigarette lighter converter, $70-$100 for portable mini solar panel, $30-$40 for skillet

Keep your car optimized for living in it

A truth about living your car is that you’re going to be in a much smaller space than you’re accustomed to. While living in a windowless, spacious van is ideal, most people won’t have one of those and will have to settle for their four-door sedan. The best way for living in one of these is to come prepared and organize your belongings — designate a sleeping area and make it comfortable, buy yourself a small cooler to keep drinks in, stock up on dry foods, use your trunk as a closet, make sure to find a few discreet parking spots you can stay in overnight, keep relevant documents on hand, have a first aid kit, and invest in a good flashlight.

Cost: $30 for mini Coleman drink cooler, $30-60 for flashlight, $20-$25 a week for gas, food varies greatly depending on appetite

Don’t forget about your mail

This may seem obvious, but living in a car might make you forget that you’re a member of society that receives tons of junk mail and a few bills monthly The best way to get your mail without an address is renting a post office box. Remember, you have to do this before taking the start living in your car because you must provide the post office with an actual address. If you’re unable to take out a PO Box, see if a friend will let you use their home address as your new one.

Cost: $8-$12 a month for PO Box

6 Ways to Break Your Binary Options Trading Plateau

If you’ve hit a plateau in your path to bigger profit trading binary options, we understand how frustrating this can be. Fortunately, the following six tips should help you break through and continue improving.

Practice, Practice, Practice

In our experience, when binary options traders say they’ve hit a plateau in performance, it’s because they’ve hit a plateau in effort. One reason you may not be seeing the progress you hope for is because you’re not putting in the practice it takes. It could be that this current plateau was once more than you could have ever dreamed of, so, once you hit it, you stopped practicing like you should.

If this is ringing true, then you know what to do. It’s time to learn more about trading strategies (or just learn more about the one you’ve chosen), start up with demo software and analyze your results.

stock trading

Get Uncomfortable

The comfort zone is a terrible thing. It feels nice and safe, but if you’re a binary options trader, it’s also where your profits go to die. Another reason your performance may have plateaued is because you’ve become too comfortable with what works. Progress always involves some amount of discomfort, some amount of approaching the unknown.

Fortunately for you, there’s very little unknown left in the world of trading binary options. There are countless resources authored by people who have tried every which way to profit in this game. Learn from them, follow their steps and get out of the comfort zone ASAP.

Pick a New Underlying Asset

Sometimes, it’s simply not your fault. If you’re still new to binary options trading, you may have chosen to specialize in an underlying asset that lacks the kind of volatility most of us absolutely love to see.

In this case, breaking through your trading plateau may be as easy as just picking a better asset to trade on. Crude oil is always good for plenty of volatility and will give you options for making money on a daily basis.

Review Your Notes

Hopefully, you’ve been keeping notes on your trading days this entire time. These notes can be invaluable for your education and now would be the perfect time to review them to see if you can spot any trends that are creating this plateau.

Reviewing material you’ve used for your training will help too. Most of us only remember about 10% of what we read, so there’s a good chance that solid advice is waiting for you in resources you already own.

Ask for Help

There’s a strong community within the world of binary options trading, so you never have to look far for help. Rest assured that no matter what kind of wall you’re up against, plenty of other binary options traders have run into the same issues. A reliable forum is such a valuable commodity in this world because you can take a problem like this to one and get plenty of free advice about what to do.

Take a Break

Finally, if possible, it can sometimes help to take a break from binary options trading for a bit. Clear your head and don’t think about it for a day or two. Try going somewhere fun for the weekend, hanging out with friends or anything else that will keep your mind occupied and away from options. Then approach the way you trade with a fresh perspective and see if that doesn’t help.

Recognize that all binary options traders hit a plateau at least once, so it’s worth viewing this challenge as part of what it takes to progress. Nonetheless, the six methods we just covered should help you get to the next level in no time.

Get Income and Money Saving Tips To Your Inbox

Get Income and Money Saving Tips To Your Inbox

Want more tips on how to make more money each month? Sign up to receive the great tips and tricks to boost your income and save more!

You have Successfully Subscribed!

Pin It on Pinterest