4 Ways Downsizing Saves You Money

4 Ways Downsizing Saves You Money

by | Feb 29, 2012

Everyone is looking for ways to save a few extra dollars these days, and we often choose to do so by skipping the coffee at our favorite coffee shop or opting to bring a lunch to work instead of eating out. While these efforts are effective in saving a few dollars a month, sometimes more dramatic actions are necessary.

Our homes are more often than not the biggest expense we have, and one of the best ways to maximize your monthly budget is to downsize your living space. The top 5 ways that putting your extra possessions in self storage locations and moving to a smaller space can save you money include:

Monthly Mortgage Payment

There is no denying that the most expensive aspect of owning a home is the monthly mortgage payment itself. If you feel as though your mortgage is stretching your budget, consider downsizing to a smaller home or even opting to rent. The money you save can easily be a couple of extra hundred dollars a month.

Utilities

The larger the space the more energy it will consume which means that your utility bills will be higher. By choosing to live in a smaller home, you will be able to reduce the amount of energy needed to light, cool, and heat your space which will ultimately save you a couple hundred dollars over the course of a year.

Maintenance

Larger homes require more maintenance. There are lawns to be maintained, exteriors to be painted, and constant updates to be made. However, by downsizing to a smaller space you can reduce the amount of maintenance that your home requires, and therefore save your money.

Insurance

Next to your mortgage payment, insurance is one of the highest expenses that come with your home. Whether it be private mortgage insurance or homeowners insurance, insurance premiums can cost you hundreds, if not thousands, of dollars a year. By downsizing your home, you can save on your PMI and the amount you spend on homeowners insurance, and depending on the size of your downsize, ultimately save yourself several hundred dollars a year.

Economic times are tough and sometimes we have to sacrifice our high expectations of our living space in order to have the financial future we desire. While switching to a smaller home may not seem ideal now, choosing to do so can save you thousands of dollars that may ultimately put you in a better financial situation for years to come and give you a much more enjoyable and stress free life.

Spring Break 2012 Exploring Trip Destinations in Florida

by | Feb 26, 2012

Spring break is about six weeks away and I still haven’t decided where the kids and I will go. We all agree we want to go to the beach since it’s been a few years. I know. Tragic, right? It is unbelievable we have waited so long, but hopefully we will remedy this problem this year!

My daughter wants to go to Florida. I think it’s a good choice. We have been several times since it is in driving distance and pretty easy to navigate.

The issue is where in Florida to go? It must have a nice beach, reasonably priced accommodations, great places to eat, and be very kid friendly.

Our Florida choices are below and includes pros and cons of the few we have actually visited.

Have you been to any of these places? What did you love about them?

Destin, FL

Pros: Great white beaches

Cons: Will likely be crowded with tons of college kids on spring break too. My daughter my love it but I’ll hate trying to navigate the traffic. It could get really pricey to around that time of year. ☹

Source: bing.com via Rhiannon on Pinterest

 

Grayton Beach

Pros: I’ve been there before and know it’s a great place. It also has a state park in the area so the accommodations may be reasonable. Close to Destin

Cons: Not many restaurants to choose from.

Source: floridastateparks.org via Becky on Pinterest

 

St. George Island

Pros: Part of the state park system. Could be a better value overall.

Cons: Limited restaurants and no attractions (but not a problem if you are only looking for a quiet vacation of sand and sun).

Source: sgirealty.com via Phoebe on Pinterest

 

Cape San Blas

 

Amelia Island

 

Navarre Beach

Source: google.com via Karen on Pinterest

 

Santa Rosa Beach

 

Our choices for beaches in Georgia and South Carolina include:

• Isle of Palm, SC
• St. Simons Island, GA
• Folly Beach, SC
• Myrtle Beach, SC
• Hilton Head, SC
• Tybee Island, GA

I’ll add more information about them in my next Spring Break Vacation post.

How to Buy a Used Car with Your Tax Refund: 9 Used Car Buying Tips

How to Buy a Used Car with Your Tax Refund: 9 Used Car Buying Tips

by | Feb 21, 2012

During this time of year many of you are using your tax refund money to buy a new car. It feels exciting to drive off in a newer model car after driving a clunker or something that just doesn’t hold much appeal to you anymore.

Single Moms Are Targets for Scams

Unfortunately many women (especially single moms) get taken by used car dealers. They get a car and it’s absolutely a crappy vehicle. The dealer or seller fails to tell you about the engine or transmission problems.

The Headaches and Money Lost from Buying a Used Car

It looks like you are getting a great deal but when you look at the whole picture you will end up spending much more than the price of the car. You will deal with mechanics who think you are incompetent simply because you are a woman and don’t have a man in your life. You will deal with issues in trying to get your money back because the car was sold under an “As-is” warranty. This just happened to a friend of mine and now she doesn’t have a car because it died on her.

My Good Fortune, My Dad

I have been blessed to have a man in my life who knows all about cars. My dad. I’ve been around them it seems like forever and he’s taught me what to look for. I can ask him for advice and can confidently share this information with you.

To keep yourself safe here are a few tips to keep in mind when buying a newer car from a used car dealership.

9 Used Car Buying Tips

  • Get a vehicle history report (more on that below)
  • Test drive for at least 30 minutes on the interstate and notice any transmission or engine problems
  • Get a reputable, certified mechanic to run a diagnostic on the car for about $30-50
  • Never buy under an “As-is” warranty unless you are absolutely sure about the condition of the car. Request a 30-day warranty. If they say no do not buy
  • Request the maintenance report (only if you buy from car manufacturer, i.e. Ford, GM, Honda)
  • Ask for an oil change or tune-up (this will tell you how scrupulous the seller is)
  • Look under the car and see if there is oil or other fluids leaking
  • If using a tax refund,  find a car you can pay cash with just a partial amount. The rest should be used for any maintenance you will have
  • If you have a car to trade it is best to sell the car to a private person and keep the cash for yourself. Do not trade!

Now more about the vehicle history report. This is a vital piece of information to get before you buy a used car.

Beware Title/Brand Washing

Title – or “brand” – washing occurs when a seller takes steps to hide the damaged or totaled condition of a vehicle. When a vehicle is damaged or declared a total loss due to flood, fire, accident, natural disaster or other circumstance, the state in which it’s titled will “brand” the title, noting the condition on the document. Unscrupulous sellers circumvent the branding by repairing or camouflaging the damage and then titling the vehicle in a different state.

During the first six months of 2011, 257,245 vehicles were initially branded and then transferred or retitled in a second state with a clean title, according to the AutoCheck vehicle history report database. In 2008, that happened to just 185,000 vehicles.

You can protect yourself from the risk of buying a title-washed vehicle by purchasing a vehicle history report. Most title-washed cars keep their original vehicle identification numbers (VIN), which is all you need to order a vehicle history report.

The report includes information on the status of the title (including if it’s been branded), a check of possible problems, an odometer check, the history of how the vehicle was used (as a rental or private vehicle) and any events, such as accidents or flood damage that have been reported on the vehicle. You’ll also get the ZIP code of where the vehicle has been registered, and you can use online resources to match that information to regions where the vehicle might have been exposed to floods or other natural disasters. (ARA)

Women’s Used Car Buying Guide and Checklist

This article does not cover everything you need to know about how to buy a used car. If you would like more detailed information and a used car buying checklist pre-order the Women’s Used Car Buying Guide and Checklist now to save yourself time, headaches, and money for only $10. The price will go up to $25 after it is launched in two weeks so order your copy now!

Women’s Used Car Buying Guide and Checklist Pre-Order

5 Easy Steps to Creating a Budget

by | Feb 15, 2012

Do you find that you don’t have enough money at the end of the month? Have you been stressing out about how to make ends meet even though you make enough money to live? Why does money seem to disappear when you need it the most?

If you are struggling with this it’s probably time to create a spending plan.

Without a plan for anything in life you run the risk of losing control and heading down a self-destructive path. Your money is no different.

If the thought of creating a spending plan sounds overwhelming, here are a few tips to help you make one in under an hour.

Estimates and Actuals, not Ideals

Remember that your spending plan is a tool, not a dream machine. Goals are important, but a family spending plan should first focus on the numbers you’re dealing with. That’s the basic first step. Once you have a grasp on that, you can begin a bit more idealizing, such as saving for vacations, desired items, etc.

Start with Your Net Income

First, figure out your net income for each month. This means your income minus taxes, insurance, 401K deductions, and so forth. If you are self-employed, subtract estimated taxes, insurance costs, retirement account savings, etc. At this point, you just need numbers.

Expenses – Keep Categories General

Next, figure out your monthly expenses. If they vary, figure out an average by looking at the last three to six months’ worth of expenses. For instance, if your electric bill was $150 last month, $140 the month before, and $175 the month before that, then you can estimate a monthly expense of around $155 for electricity. Alternatively, you could take the highest amount, $175, and go with that.

It’s a good idea to keep your categories as general as possible while still preserving clarity. Otherwise, you might get confused or overwhelmed by all the “hair splitting.” For example, instead of having “food, paper products, drug items, etc.” as categories, you can lump all those expenses under “groceries.” Items like “pet supplies” can be their own category, but you might want to include vet bills in that category. Here are some suggestions for categories:

  • Charitable giving
  • Payment off debt
  • Home (mortgage, rent, property tax, insurance, repairs, etc.)
  • Vehicle
  • Utilities
  • Health Care
  • Birthday and Christmas gifts
  • Cushion (this is money set aside to offset surprises, mistakes, or unexpected expenditures)
  • Personal (eating out, hair appointments, etc.)

Stop and Look

At this point, stop and take a look at what you’ve got so far. Are your expenses greater than your income? It’s time to cut back significantly, or find another source of income (or both).

Actual Expenses

So far, you have two columns – income and estimated expenses. Now you need to add another column: actual expenses. Keep track of the real numbers each week over the next month and see how much/if they differ.

Now you’re well on your way to a workable spending plan!

Innovative Ways to Feel the Love Today and Every Day

by | Feb 14, 2012

Today is the day many singles dread. Am I right or wrong? If you are without a significant other you know the familiar feeling. The sting of being alone or the dread of seeing yet another red box of candy or rose not meant for you.

But today doesn’t have to be all doom and gloom. The green-eyed monster of jealousy does not have to show his face. You can do a couple of things to make it through the day.

  1. Be happy for others
  2. Share your love with other

…or you can simply hide out in your house until the day is over but that is probably not the best idea.

Be Happy for Others
This can be tough, especially if you’ve been alone for a number of years. It hurts to see your friends and family be on the receiving end of cards and flowers and candy.

But does it really make you feel better to hate on other people? It takes more energy to feel jealousy or hatred than it does to feel happy for others.

Imagine if it were you. Imagine it is you next year! It could turn around just that quickly. So this really is a case of do unto others as you would have them do unto you.

Share Your Love with Others
This day is not just for lovers. The kids show us by giving Valentine’s Day cards to their classmates every year. Grown-ups can do it too.

Buy a pack of those kiddie cards and hand them out along with candy to your co-workers and friends. Everyone will get a good laugh and feel your love. Giving love makes you an automatic recipient of love. You will feel all that positive love energy coming back to you.

So don’t let the day be wasted with hater-ade and snappy behavior. Make it what you want it to be. When you give love you get love. It is a natural law of the universe.

Honestly.

Happy Valentine’s Day!

P.S. These tips are not just for today. Use them everyday to attract more love into your life. Love truly does not come to the person who is only looking to receive it. It comes to the one willing to give it freely each and every day.