Category Archives: Personal Finance

How To Visualize Financial Success in 2020

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You may feel like you have a handle on your finances, or you might be worried about a new business venture.

There are quite a few things that can concern you when you are managing your finances, and you should work to visualize financial success in the future.

You do not need to succumb to anxiety when you can use these actionable tips to improve your life and give you peace of mind.

Create A Budget That You Can Fine-Tune

When you are creating a budget, you can write down all your income and expenses. You should be honest with yourself, and you should write down all the recurring expenses that you have.

These tiny expenses can add up because they are often difficult to notice. This is especially true when you have automatic debits set up for your accounts.

When you write up a budget, you can see how much goes out and how much comes in.

You can begin to cut some of the expenses that you do not need, and you should keep yourself accountable for the budget.

If you ignore the budget, you have not made any progress. This is why the budget should always be the first step in imagining your financial success.

Create Lists For Everything

You can create a list for everything. Your lists will give you direction because they can tell you what needs to be done, when it should be done, and how long it will take.

You should also create lists that help you pay your bills, save money, and ensure that you are sticking to your budget. The lists will also help you get more work done, save money, and stop spending so much money.

You can create a list for your groceries, plan meals for the week, and plan any items that you need to buy.

You can stop making so many impulse purchases if you have a list of everything that you need.

You will also spend much less time at the store if you are using these lists.

Keep these lists on your phone or write them down. Do what makes it easier for you to remember what to do, when to do it, and what you need for the house.

You Should Create A List Of Goals

You should create a list of goals that you can easily refer to. These goals might be very simple, but you should ensure that you cross off each goal, add more goals as needed, and hold yourself accountable.

If you are not achieving certain goals, you need to be sure that you write down mini-goals that will help you measure your successes.

Save Money In A Simple Place

You should save money in a simple place like a jar, box, or piggy bank. It helps if you can see the savings add up, and you can continue to save until you have so much money that you need to make new goals.

You can spend some of the money that you have saved, or you can count all the money so that you know where you stand.

You might want to deposit this money in an online savings account, and you could even use an investment app to invest some of your money.

Saving money is a habit that is easy to get into if you are using a simple piggy bank or jar. You will teach yourself to continue to save money, and it will become natural

You might even choose to use an app that rounds up all your purchases, helps you save the money, and allows you to set goals.

You can transfer that money to your bank account, or you can send that money to a micro-investment account that will help you earn extra money every month.

Plan To Pay Off Certain Bills

You should plan to pay off certain bills that have a particular payoff date. You should keep track of that date, pay more into the account when you can, and count down the days until the bill is paid off.

That money will go back into your budget, and you can ensure that you have more money to pay off another bill.

You can continue to pay off bills so that you are not swimming in debt, and you can start living off cash.

Remain Positive

You must try to remain positive so that you can achieve your financial goals. Many people get discouraged if things do not work the way that they want to.

It can be easy to see why your financial successes will not happen overnight, but you should try to remain positive. This is why you need to have goals.

You need goals that will help you stay on the right course. You can be positive because you are going in the right direction.

Journal

Journal as much as you can about your finances so that you have some perspective on your finances.

You should write down the things that you would like to achieve, and you should also write down any ideas that you have.

Your journal is a place where you can rack what you have done with your money, plan what you want to do next, and consider your options.

You can write down and scratch out anything that you do not need, and you can continue to make charts, keep your budget in the journal, and even write down contacts in the book.

Conclusion

You can imagine your future financial successes if you are using the tips listed above. You can turn your life around by using these tips to start a budget, to learn about money, and to save money.

You can gain some perspective when you have a budget that will hold you accountable, and you can write down all your ideas in a journal.

If you need some quick cash for a financial boost, apply for a title loan online with Loan Cheetah. You can use your car title as collateral.

Your financial success will not happen overnight, but you can teach yourself a few things that will ensure you have money, you pay down debt, and you stick to your goals.

How To Estimate Your Monthly Expenses

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When it comes to budgeting, most of us have a pretty solid grasp of our monthly income. It can be more complicated if you’re self-employed. There will be fluctuations as your sales go up and down, but they typically fall within somewhat predictable ranges at given times of the year. Estimating your expenses, on the other hand, can be a bit more challenging.

The Importance of Estimating Your Expenses

A budget is essential for sound money management. Having one keeps you from flailing from one financial emergency to another throughout your life. Financial mismanagement from not having and sticking to a budget typically ends with not having sufficient savings to fall back on when you’re retired.

Only by having an accurate grasp of your expenses can you hope to know how much money you’ll have left over at the end of each month or whether you’ll have more month left at the end of your money.

How to Accurately Estimate Your Monthly Expenses

You need to sit down and write out every expense you have each month. Also, if you have bills that are due quarterly, for example, don’t forget to write down a monthly portion for each of them.

The following is a list of expenses that most people will have.

  • Rent or Mortgage
  • Car Payment
  • Car Insurance
  • Car Gas and Maintenance
  • Electric Bill
  • Gas Bill
  • Water Bill
  • Cable and Internet
  • Groceries
  • Eating Out
  • Student Loans
  • Health Insurance
  • Credit Card Payments

For many, the above list will not be comprehensive. You may have a gym membership and a Netflix subscription, in which case, you’ll need to add those.

Do you have a pet? Their food purchases may already be covered under your grocery expense listing but anything else may have to be added to your expenses list.

Also, if you have a medical condition, be sure to add your out-of-pocket copay on any prescription medicines you buy and for any regular doctor visits.

One Critical Item to Remember When Estimating Expenses

Mike Tyson had a famous quote that “everyone has a plan until they get punched in the mouth.” Life can throw punches occasionally.

You’ll have car breakdowns, rushes to the emergency room with a sprained wrist or whatever, your home furnace may finally give up the ghost and who knows what else.

There will be unpredictable events that will exceed a given pay period’s income, so you’ll need savings to handle it.

One recommended formula for budgeting is known as the 50/30/20 rule.

This refers to:

  • 50 percent of your income for essentials such as rent, utility bills and food.
  • 30 percent for discretionary spending.
  • 20 percent put away in savings.

This is, of course, the ideal scenario. Even if you exceed your expenses in a given month, you should still make sure to put something away for a rainy day since it all adds up over time.

Let Your Phone Be Your Expense Tracker

The best way to estimate monthly expenses is by keeping track of current expenses. Many bills are fairly regular in their amounts and when they’re due.

So, if you know how much you paid this month, they won’t be much, if any, more next month. One of the best, most convenient ways to do this is through the use of expense tracking apps.

You can simply Google “best consumer expense tracking apps,” and you’ll be presented with a ton of options. Since they are on your phone, they’ll be with you wherever you are as you’re spending money.

They enable you to almost effortlessly plug in expenses as you incur them. Many also have the capability to link to your bank and other useful options. Thankfully, the days of having to save and add up a pocketful of wrinkled receipts to keep track of where your money’s going are long gone.

The Power of Information

One of the best things about tracking expenses and how it enables you to estimate future expenses is what it tells you about yourself. You may find you spend way more money in a particular area of your life than you ever realized before tracking it.

Perhaps you didn’t know how much all those lattes at the local coffeehouse were adding up to each month. This information can cause you to cut out certain expenditures when you realize that they’re keeping you from saving money toward other things in your life.

If you see you’re spending too much on credit card payments each month, this will help you to see the wisdom of cutting back and paying as you go with cash.

If you have a fair amount of credit card debt that is high interest, you may even want to prioritize paying this debt off above saving money.

Most savings or investment accounts will yield lower interest rates than what you’ll be paying on your credit card debt, so you’ll be losing money by putting it into savings before paying this off.

Most of us have a pretty good handle on our income, which makes tracking our expenses the major obstacle to sound financial budgeting and planning. Follow the tips above to find out where your money is going and have the power at your fingertips to change financial course in your life.

How To Evaluate The Condition Of A Used Car Before Buying It

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The decision to buy a used car can be a stressful one. There are a lot of things to consider and have checked before you spend your hard-earned money. There are some assumed risks a buyer takes on when buying a vehicle that is pre-owned. Finding and purchasing a used car that is trouble-free will take some time and effort. It is important to know how to determine how reliable a used vehicle is before you purchase it and have to spend your hard-earned money fixing unsuspecting mechanical headaches down the road. To make the process a little easier and less risky, below are some tips on how to properly evaluate the condition of a used vehicle before you purchase it.

Evaluating A Used Car:

•Ask For Ownership History- If available, request the ownership history for the vehicle you are considering. Also, take note of the mileage from the odometer and view any available maintenance records.

•Inspect Body- Carefully inspect the body of the vehicle for damage. Note any scratches, chipped paint, dings and any other obvious damage that may need repairing.

•Thorough Test Drive- It is crucial to take a used car for a test drive. Pay close attention to how it handles. Check how well the brakes work, if the car pulls in any specific direction or if there are any noises that are unusual.

•Have Vehicle Inspected- Before purchasing a used car, have it thoroughly inspected by a qualified mechanic of your choosing. They will be able to let you know if the car is worth what the seller is asking for it. Be wary of sellers who encourage you to use their mechanic.

•Vehicle History Report- Ask for a copy of the vehicle’s history report from an independent service. Companies to consider for this tip include AutoCheck and CARFAX. You can use the vehicle identification number to check if the vehicle was involved in any floods or had been rebuilt. These sites can also alert you to odometer fraud.

•Service History- If purchasing a used car from a private seller, ask them if they have maintenance records that you can review. Most car dealerships selling used vehicles will have service records for their customers to review.

•Read All Fine Print- Before you purchase a used car, it is important to fully understand what is covered in the warranty. Read the fine print to see how long you are covered under warranty and if there are any restrictions to be aware of. Some warranties cover specific repairs and some do not.

Safely Buying A Used Vehicle After Evaluating It

When purchasing a used car, especially from a private seller, it is important to take precautions so that you don’t get taken advantage of. Always get the sale in writing before money exchanges hands. It should include a promise of the condition of the vehicle and some evidence proving it, if possible. Any correspondence regarding the sale of a vehicle should be saved. Keeping a secure paper trail on all transactions can save you headaches in the event you were sold a lemon. Pay special attention to any used car listings that speak of new or repaired parts.

Getting Funded- Differences Between Credit Unions And Banks

If considering personal loans for buying a used car, you may be wondering if you should go with a bank or a credit union. Banks and credit unions have their differences and distinguishing between the two can be confusing. The most important difference between the two is that banks are institutions that are for-profit. Credit unions are non-profit organizations.

Other notable differences include banks having higher fees and lower interest rates while credit unions offer lower fees and higher interest rates on their loans. Additionally, it is easier to find a bank nearby than a credit union in some cities. Credit unions often boast better customer service, and banks often have rewards programs, better technology and easy mobile access.

Choosing between a bank or credit union depends on what features work best for you. Consider your priorities including customer service, services offered, banking applications and branch locations. When looking for a loan to buy a used car, you may want to shop around at both banks and credit unions to find the best interest rate offered.

How to Raise Your Credit Score and Lower Debt with a Personal Installment Loan

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Millions of Americans are currently suffering under massive amounts of debt. These men and women would often do anything to relieve their debt burden and start to get their debt paid off. One potential way to solve debt problems for millions of Americans is to take out a personal installment loan at low interest. Such an action simplifies the debt repayment process and may lead to significantly lower debt payments over a period of years.

What is a Personal Installment Loan?

A personal installment loan is a loan that an individual can secure from a bank or lending institution that they pay back over a period of time. This form of loan is simply an amount of money not directly connected to collateral or some form of title. Personal installment loans must be paid back in installments over a period of months or years. The loan agreement that an individual signs for this loan stipulates the payments, interest rate, and amortization of the loan.

Individuals must apply for this loan like they would any loan for a house or car. They must show that they have a basic amount of credit worthiness and may have to put up a piece of property as collateral. Their credit worthiness, reflected in their credit score, is critical for determining their terms and how much they will have to pay in interest.

How Can it Improve Your Credit Scenario?

A personal installment loan is helpful for a credit scenario for multiple reasons. One of the largest sources of costs from debt is the interest that is accrued. Compound interest often increases debt amounts much faster than an individual could think. Individuals with debts from a large number of sources often cannot easily wrap their heads around interest rates. They may not know which of their debts is costing them more money and which debts should be prioritized over others.

There is also a greater chance that an individual can miss a debt payment when debt is coming from multiple sources. Missing a debt payment could easily result in an individual’s credit score dropping further. Personal installment loans help solve both of these problems. A personal installment loan should be used to pay off all of the other debts that an individual has. Then, that individual can only focus on one monthly debt payment, one due date, and one relatively low interest rate.

What to Do

Anyone who is considering a personal installment loan should look at their finances and the extent of their debt problem. Then, they should look at the types of personal installment loans they are eligible for at what interest rates. Finally, individuals should start to contact institutions that offer personal installment loans and inquire about terms and contacts. Loan rates are critical to the calculations that an individual might make to determine whether or not a personal installment loan is right for them and their financial situation. If a personal installment loan makes sense, individuals should embrace them as soon as possible. Individuals should also seek the advice of a debt relief expert. This professional should be able to help them determine the impact that such a loan might have on their credit worthiness.

Final Thought

A personal installment loan will not solve every debt-related problem an individual might have. There are still interest payments and the principal of the debt that an individual has to pay off. But such a loan may certainly start the process of an individual getting a handle of their debts and reducing them instead of increasing them. In that way, a personal installment loan could be the first step of many towards a life free of debt.

Different Ways To Supplement Your Retirement Income

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Retirement is something that most people look forward to. They think that they will have the time to finally do what they want. However, many people underestimate the amount of money that they need to retire. That is why they may need to supplement their income. There are several things that you can do to supplement your retire income.

Rent out Spare Rooms

If you have an extra room in your home, then you may want to rent it out. Renting out spare rooms is an easy way to bring in some extra money. You can use a website like Airbnb and list your room. All you have to do is set the price, the dates that the rooms will be available and the rules that your renters will have to follow.

Delay Social Security

Social Security can be used to supplement your retirement income. You can draw Social Security at the age of 62, but you will not be able to get the full benefits. You can increase your Social Security by eight percent for every year after the age of 65 if you wait until you are 70. That is why if you can delay your Social Security, then you should consider doing so.

Get a Part-Time Job

Many people who are retired get bored with sitting in the house all day. That is why if you want to make money and fight boredom, then you should consider getting a part-time job. Working 20 to 25 hours a week can significantly boost your monthly income.

Freelance

If you do not want to commit to a part-time job, then you should consider freelancing. You can make money by selling your services if you are a freelance. You can make money by writing, designing graphics, editing videos or translating documents.

There is a great demand for freelancers. There are many websites that allow you to sell your services such as Fiverr. You can also create your own website and promote your services.

Pet-Sit

If you love animals, then you can make money by pet-sitting. There are always people who are looking for someone who can pet-sit. Petsitter and Rover are two of the websites that you will be able to use in order to find a pet-sitting job. You may be able to make over $1,000 per month by pet-sitting.

Take Paid Surveys

One of the easiest things that you can do to make extra money is to take paid surveys. Crashcrate and Inboxdollars are some of the websites that will pay you for taking surveys. You will definitely not get rich from doing this. However, it is a great way to supplement your income.

Make and Sell Things on Etsy

If you are an artsy person, then you can make and selling things on Etsy. This will give you a chance to make money from a hobby that you may have been doing for decades. Etsy is one of the most popular arts and crafts sites. It has over 34 million users. It also brings in $2.8 billion per year. Etsy works in a way that is similar to eBay.

Be a Career Coach

You have spent most of your life building your career. You can make money in your retirement years by helping people make the most of their careers. You can give them tips for preparing for an interview and putting together a resume. You can start your own career coaching business. There is also a platform called The Muse that you can use. The Muse will connect you with people who are in need of career advice.

Money Mistakes You Should Never Make After Thirty

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The thirties is a turning point in a person’s life where they have to seriously look at conditions in their lives and what they are doing with themselves. It is the point between youth and older age. Unfortunately, there are a lot of financial mistakes that people make in this time of life and beyond. Here is a list of the financial mistakes that people make in their thirties.

Not Properly Investing

Once you hit 30, you should start to realize that your middle aged and elderly years are not too far away. This is why you have to properly invest your money for the future. There are a number of things that you can invest your money in—precious metals, stocks, money in the bank, etc. Make sure to set money and resources aside for both a rainy day and your golden years.

Getting Yourself Into Credit Card Debt

Some people get into a horrible habit where they run up credit cards and get into a spiral of debt. It’s shockingly easy to pay for things that you can’t really afford via a small piece of plastic. Do not let the easiness and convenience of credit cards trap you.

Not Building Up Your Credit

It is very important to build up your credit because credit is something that is relevant when purchasing and renting important things such as homes, apartments and cars. Of course, if used unwisely, the use of credit can result in massive amounts of debt. However, if you don’t have to make huge purchases to build credit; you can just make very small purchases and immediately pay them off. It is important to start building credit as soon as possible.

Spending Too Much On Vice

The costs of alcohol and other inebriating substances can add up. If you want to save more money, cut down on the vices. If you smoke a box of cigarettes each day, it may be time to kick the habit—for the sake of your wallet, in the very least. If you drink copious amount of alcohol on a regular basis, you should stop. The same goes for any other substance. It is unnecessary and unhealthy to consume massive amounts of drugs, cigarettes and/or alcohol, anyway. If you are giving money to adult entertainers, it is time to stop doing that, or to cut down on how much you give.

Not Brown Bagging It

If you are over 30, you should really be brown bagging your lunch if you want to save money. Sometimes, it can be hard to want to eat brown-bagged food when the smell of hot, freshly made food from local business is lingering in the air. For some people, brown bagging requires a certain level of self discipline and a certain mindset. You must grow into this mindset, if you have not already done so.

Living A Non-Frugal Life Of Luxury

Living a relatively non-frugal life of luxury is a good way to financially destroy yourself after the age of 30. It may seem unbelievable but, before you know it, some relatively inexpensive entertainment expenses can add up to large amounts. For example, let’s say that within the course of a month you spend $300 on restaurants, $200 on tickets for shows and hundreds of dollars on other activities. Before you know it, you may end up spending $1,000 or more on leisurely activities that you could most likely cut back on if you really wanted.

Doing Expensive Things With Friends

Once you hit the age of thirty, you should try to do less expensive activities with your friends. If you cannot convince your friends to do less costly activities, it may be time to find friends who appreciate a more frugal lifestyle. Instead of hanging out with the Great Gatsby, hang out with someone who has more frugal tastes.

Not Having Started A Solid Career

When you’re in your thirties, you are relatively close to your golden years. This is why you should start a solid career or already have one going. You are going to need a solid career that allows you to save money for retirement, as well as earn a pension. If you have not found your direction, you should in your thirties. This is a time when you should seriously evaluate and reevaluate your work life. Are you satisfied with various economic and personal aspects of your job?

Not Thinking About Retirement And Your Golden Years

Once you find yourself in your thirties, you should start thinking about retirement and what, exactly, you will do in your golden years. What are your financial goals for those years, and what kind of lifestyle do you want to live? If you do not consider these things now when you are your thirties, you may find yourself up a creek without a paddle when you are elderly.

Having Children Without Planning Finances Properly

Of course, people have the right to procreate, despite whatever circumstances loom over their lives. However, having children can drain you of finances—even if you raise your children in the most frugal manner. You will have to take into account things such as clothing, food, various bills and daycare. Also, down the road you may have to pay for the child’s schooling. You may have to put your child into private school if the local P-12 schools are sub par. Also, you are going to want to save for your child’s education.

Trying To Keep Up With Peers

A lot of people feel pressured to keep up with the materialism and expensive decisions of their peers. If you are still trying to keep up with the Jones’ in your 30s and beyond, you are in a rude financial awakening. Release yourself of this pressure, and you will find that your finances will become better endowed.

People make financial mistakes in their thirties. These mistakes include trying to keep up with peers, having children without doing financial planning, not thinking about what one will do in one’s elderly years, doing expensive things with friends, living a relatively luxurious life, not brown bagging meals, spending too much money on vices, not properly investing and getting into credit card debt.

Secured vs. Unsecured Loans: Which one is Better?

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Are You Better Off Getting A Secured Or Unsecured Loan?

If you have certain personal emergencies that you feel you’ll need a short-term loan for, you’ll usually have several kinds of loans or lines of credit you can look into applying for. But usually loans fall into one of two categories which are secured and unsecured loans. The question most people have is “which kind of loan is better?” The answer is that it ultimately depends on factors like how you would rate your eligibility to get a loan, how much you need to borrow, how long you need the loan for, and many other things the lender would need to consider. But first, here’s a basic understanding of the differences between the two loans.

The Simple Difference Between Secured And Unsecured Loans

Secured loans, which are also sometimes called guaranteed loans or collateral loans are called such because they use an asset or multiple assets to borrow against. The asset therefore becomes collateral. What will happen is in exchange for the loan they receive, the borrower will authorize the lender to repossess the asset if they fail to repay the loan as agreed to. Usually the asset will have high value so that the borrower can borrow a significant amount of money.

Unsecured loans in their simple definition are loans that don’t require an asset to be used as collateral from the borrower. Now they do usually come with other caveats, but in their most basic form, all the borrower needs to do is sign their name on an agreement to repay them. Maybe the idea of being able to borrow without putting an asset at risk of being lost sounds more appealing, but you may find other reasons why a secured loan could be better.

Pros And Cons Of Each Loan

Secured and unsecured loans each have strengths and weaknesses that you have to weigh when you consider them. Keep in mind though that there’s many variations of loans within each category, and there can be some exceptions to their pros and cons. But generally speaking, this is what you can expect from each of them:

Pros of Secured Loans:

  • They can be easier to qualify for because using collateral means there’s less risk the lender loses all their money if you default
  • You can sometimes borrow more than you can with unsecured loans
  • You usually don’t need to worry about your credit score or history

Cons of Secured Loans:

  • You will usually only be able to borrow up to about half of what your assets are worth
  • Usually the lender can take immediate possession of your assets if you default

Pros of Unsecured Loans:

  • You can usually use them for the same purposes as secured loans
  • In some cases, you may have more favorable repayment terms without assets at risk

Cons of Unsecured Loans:

  • You usually will have credit and income inquiries made about you to determine if you qualify
  • You may not be able to borrow as much as you would with a secured loan

Most business loans are secured loans, but when it comes to personal loans, they could be either secured or unsecured. Loans like auto loans and mortgages are secured, but smaller loans like debt consolidation loans and credit cards are unsecured, although credit cards are technically not loans but are still often mentioned in this category. However, when it comes to short-term loans, an auto title loan would be considered a secured loan while a payday or installment loan would be unsecured.

Why Auto Title Loans Can Be Good Secured Loans

With an auto title loan, you’re borrowing money using your vehicle, but you give the lender your title until you’ve repaid the loan. The more your vehicle is worth, the more you get to borrow against it. Usually you’ll borrow about 30℅ of its current market value, but in some states you may get to borrow as much as 70℅. A title loan could be anywhere from $500 to even as high as $10,000 in a few rare cases, but some states only allow borrowers to borrow up to $4,000 or $5,000 using a title loan, and some states do not allow title loan lenders to operate at all. But in states where they are legal, you usually have about 30 days or a little longer to repay your loan or pay off the interest due. If you fail to do so, the lender can repossess your vehicle, though there are sometimes laws that limit how this can be done.

Why Payday Loans And Other Small Dollar Loans Can Be Good Unsecured Loans

A payday loan is unsecured, but the lender usually runs verification checks on you to make sure you’re employed and have an active bank account so they can collect payment. You can usually get these loans very quickly because they’re usually for only about $300, and it never takes long to verify the required information. The downside to a payday loan is that it’s not only significantly less than a title loan, but you also have much less time to repay it with only about two weeks to either pay in full or roll it over. Another personal loan that can be a better alternative to a payday loan is an installment loan which can allow you to borrow a little more money, but instead of paying it off all at once you pay it off in installments over a longer period of time. As with title loan regulations, payday and installment loans are also governed by the states.

The bottom line is there really is no right or wrong answer to whether a personal short-term loan should be a secured or unsecured loan. If you’re not worried too much about your current credit score or income situation, a small unsecured loan may be the best. If you do have credit problems but have an asset like a vehicle you wouldn’t mind using to borrow against, secured loans are probably better.

Labor Day Vacation Tips While On A Budget

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You don’t have to break the bank to take a great family vacation this Labor Day or fall season. The key to staying on a budget means being flexible and finding ways to have fun that don’t cost an arm and a leg. When traveling with your family, it is important to take everyone’s idea of fun into mind before choosing the itinerary. With a little strategic planning in advance, you and your family can plan a getaway this fall season that is cost-effective and budget-friendly.

Look For Non-Popular Destinations To Visit

If you are wanting to plan a budget-friendly family getaway this fall, you can save money by visiting destinations that are less frequented. For example, if you are planning to travel to Europe, look for cities surrounding Paris instead of Paris itself. The idea is to start with a place you would love to visit and find local, more affordable surrounding areas to visit instead.

Instead of staying in the heart of the city, the outskirts are typically more affordable when it comes to accommodations and entertainment. It is more cost-effective to travel to the city during the day for activities than paying for accommodations nearby. Finding more affordable accommodations during your trip will allow you to spend less money overall.

Use Loyalty Programs And Rewards

Another tip for traveling during the fall season on a budget is finding ways to get discounts. If you are an infrequent leisure traveler, you should enroll in a rewards program that will help you get deals and discounts during your trip. Consider finding a credit card to use during your getaway that offers rewards or benefits for certain activities you pay for on your credit card.

You may also consider investing in a loyalty program with a rental company or a hotel chain. Points can quickly add up over time and you may end up receiving a discount for future stays, or even a free visit.

Rely On Apps And Resourceful Websites

Take advantage of comparison websites that allow you to find the best deals on flights, restaurant and hotel accommodations. Sometime you can find a packaged deal that includes airfare, hotel accommodations, and/or a rental cars. You can also go to the city’s website that you want to visit. They might have local deals for accommodations and activities.

With technology, it seems like there is an app for everything. Apps like ParkWhiz or Spot Hero can help you find cheaper parking in certain tourist areas. And, apps like Groupon or Living Social have deals for getaway options as well as local activities. Do a quick free app search and be surprised at what deals you find.

Have An Outdoor Adventure

Planning a trip during the fall opens up more opportunities to plan outdoor adventures. There are many great things you can do with your family outdoors that are great for your budget. Consider traveling to a national park of your choice. The national park system gives families an affordable and wonderful way to visit beautiful landscapes, learn about cultural and geological history, admire wildlife living in their natural habitats and learn to appreciate the wonder of the great outdoors. To make things even better, plan your trip for a day when the national park you choose offers a free day for visitors.

Plan Factory Tours

There are many factories across the country that allows visitors to tour their facilities for a small fee. There are even some that will let you visit for free. If you have children, a behind-the-scenes look at some of these facilities can show them how things they see or eat are made. The best thing about these tours is they often come with free samples and free swag. If you are planning a road trip, consider lining up some factory tours that are consistent with the route you’re taking.

Additionally, many bigger cities have free self-guided tours you can download through an app onto your smartphone. You may also choose to hire a company for a guided tour that will show you some top spots throughout the city you are visiting. Self-guided tours are an interesting way to explore special areas in cities to find hidden gems you may have missed otherwise.

Book Accommodations Early and Look For Low-Cost Carriers

When it comes to flights and hotel accommodations, the best way to get a good deal is by booking as early as possible. When you have children, low-cost carriers such as Southwest are a great option to consider because their average ticket prices are typically lower than other airlines. When looking for tickets and hotel rooms, it is also best to compare the rates to find the most affordable one on the date you plan to visit.

Consider Road-Tripping To Your Destination

Purchasing airline tickets will definitely get you to your destination quicker. However, it can also cost more than other options in certain scenarios. If your heart is not set on flying to your destination, planning out a road trip can be a more cost-effective and less stressful alternative. When your desired destination is a driving distance away, it is often more affordable to travel by car, especially when you have multiple family members.

Aside from the cost benefits, a road trip can offer more advantages including pit stops at attractions and visiting some hidden gems along the route. With kids, the ability to stop regularly allows them to get up and move around to release any pent-up energy they might have. Many parents agree that traveling with kids is easier on a road trip than flying.

Stock Up On Supplies

To reduce some of your out-of-pocket expenses while on your fall trip, bring a stash of snacks, toys and books to keep everyone entertained while traveling. Eating out while traveling can get very expensive, even when you stop for snacks. Bringing your own food can save you from having to buy expensive meals when you don’t have to. When you pack meals or snacks for a road trip or flight, you will save money and be guaranteed food to eat when you are hungry. In some cases, you may have to wait for a flight attendant to bring you food or it may not be available at all.

Budget Tips For Back To School

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Many parents are happy to see their children go back to school. However, back-to-school shopping can be quite expensive.

The good news is that there are several things that you can do in order to save money on back-to-school shopping.

Set A Budget

It may be tempting to buy all of the supplies that you see in the store. However, you do not want to spend more than you can afford. That is why it is a good idea for you to set a budget before you go shopping. Set a limit for how much you will spend on supplies and clothing. You can include your children in your budget planning, but you do not want their wants to cause you to go over the budget that you set.

Shop At Home

Many parents waste money because they buy things that their children already have at home. Before you buy anything, you will need to make sure that you use all of the supplies that you already have. Your children can also wear the same clothing
from last year if it fits and is in good shape.

Use Credit Wisely

It is best for you to pay for all of the supplies with cash. However, if you are short on cash, then you can use credit. You may want to apply for personal loans. Personal loans are typically taken out for a one to five-year period. You will make a small payment every month until you pay the loan in full. The interest rate on the loans will depend on your credit score.

You can also use a credit card to pay for the expenses. Credit cards have a limit. Once you reach the limit, you cannot spend any more until you make a payment. Credit cards typically have higher interest rates than loans. However, once you make a payment, you will get your credit back. If you have a loan and need extra money, then you will need to apply for another one.

You need to use your credit cards responsibly. You do not want to spend more than you can afford. It is also best for you to pay your credit card off every month in order to avoid paying high interest. Once you get into credit card debt, it can be hard to get out of it.

Title loans are another option if you need extra money. You will surrender your car title to the lender in exchange for cash. Even though this can be an easy way to get cash because the requirements are minimal, you do risk losing your vehicle if you do not pay.

Shop At Thrift Stores

You can find great supplies at a thrift store. Supplies at a thrift store are typically a lot less expensive than the items in a regular store. You can also find gently used clothing at a thrift store.

Shop Online

You can maximize your savings by shopping online. Not only will you be able to save money but you will also be able to avoid the long lines. It is a good idea to check out Ebates.com before you go online shopping. This is a website that allows you to get coupons and codes for shipping. You will also be able to get rebates.

Buy Generic

Everybody wants to have fancy supplies. However, if you are on a tight budget, then it is best for you to buy generic whenever possible. Your children can also decorate their folders and notebooks the way that they want. There is nothing wrong with buying generic. The supplies are just as good and can help you save a lot of money.

Bernie Sanders & Student Loans: Can America Afford a Debt Jubilee?

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Student loans are sources of stress for numerous American families. In fact, statistics show that student debts are worth nearly $1.5 trillion as of the end of 2018, and approximately three million individuals over the age of 60 are still carrying student debt. Thinking about student loan debt is difficult for young adults who are in the thick of college studies and who are only thinking about their futures and careers in the rosiest possible terms. However, once these students graduate and start making loan payments, they quickly realize what an impossible situation they are in particularly once they get married and begin seeing additional family costs.

Everything You Need to Know About Student Loan Debt Forgiveness and the Debt Jubilee

While student debt forgiveness once seemed to be an impossible idea, today, it is seeming much more possible thanks to the current economic climate in America and the ideas espoused by presidential candidate hopefuls. Soon, millions of Americans at all socioeconomic levels may be able to celebrate a welcome jubilee and relief from the overwhelming burden of long-lasting debt.

What Is a Jubilee?

The term jubilee goes back to Bible times when God told the Israelites to hold a jubilee every 50 years. According to the biblical book of Deuteronomy, the Israelites were to forgive numerous debts against their fellow countrymen in the fiftieth year and to return to their ancestral homes as parcels of land were given back to the original owners. While this jubilee ensured that the Israelites were able to retain some hope even if they were currently working as servants for others or had been forced to sell their ancestral lands to pay off debts, the jubilee did not refer to complete debt forgiveness as the term now means.

Could a Jubilee Be Coming?

While there is no law in the United States currently to proclaim a jubilee every certain number of years, there have been certain periods in U.S. history when incredible levels of debt relief were granted and people’s lives dramatically improved. One such example would be the time of the New Deal in the 1950s, which provided much-needed relief for families who had been burdened by the Great Depression and World War II. Could another jubilee be swiftly coming?

Four specific facts point to the strong possibility of sweeping debt forgiveness and a coming time of jubilee.

1. Debts of all types continue to rise in the United States. The government is in an incredible amount of debt, and consumer debts are sky-high as well.

2. Most Americans lack good financial health. Many are making the same wages that they were years ago, making it difficult for them to build savings or pay off debts. This is also leading to a stagnant economy.

3. Popular opinion especially among lower-income individuals in the U.S. shows that many are looking for huge changes in the American government.

4. The economy is in a weakened state, creating a strong possibility of a coming recession.

What About the Debt from Student Loans?

Intricately connected to this discussion of a possible debt jubilee is the current discussion of the Democratic presidential candidates. Numerous candidates have recently been proposing a variety of student loan forgiveness policies that they promise to adopt if they are elected. Here is a brief look at the candidates making these proposals and what their possible policies could include.

  • Bernie Sanders, who has probably been the most vehemently for debt forgiveness, has promised to cancel all student debt regardless of the income level of the individual. He has also promised to provide more Pell grants and other monetary offers to help lower-income individuals attend college.
  • Elizabeth Warren has promised to cancel a great deal of student debt, but her forgiveness policy would be based on the income level of the individual.
  • Julian Castro has also called for a partial forgiveness policy, stating that individuals with student debt should not have to make payments until they are making at least 250 percent above the federal poverty mark.

The candidates who support partial student debt forgiveness rather than full forgiveness do so because so many Americans with this debt are actually making very high incomes or have graduate degrees that set them up with the ability to make high incomes.

Can America Afford to Forgive Student Loans?

While all of this talk about student debt forgiveness can sound incredibly positive, Americans must keep in mind that promises from presidential candidates do not automatically equal positive results. Any person who has studied politics in the last several decades will know that most promises made on the campaign trail end up to be nothing more than smoke with no real substance to them. Therefore, can Americans start crossing their fingers and hoping for the best when it comes to student debt, or should they get rid of any hope they might still be holding onto for their bank accounts?

Although there are many positives in student debt forgiveness, there are also a few distinct problems with the proposed policies.

1. Nobody knows exactly how much student debt exists. While some estimate 2019 figures around the $1.6 trillion mark, the U.S. Department of Education does not actually disseminate full data.

2. Many colleges and universities also hold many student loans, which could add significantly more to the above figure.

3. Sanders proposes to fund this debt forgiveness with an additional tax on traded funds, which could cost the average American plenty over his lifetime.

4. Student debt forgiveness could make colleges and universities significantly raise their tuition rates, leading to even more debt in the coming years.

Because of the many unknowns, it is difficult for many Americans to form opinions on this subject, and it is hard for them to argue the position that they may already hold. Therefore, Americans may just have to wait and see what further information the presidential candidates give before making up their minds as to whether or not they support student debt forgiveness.