Saving

How to Fix Your Finances in 30 Days

Written by adminJune 8, 2019

Managing your finances can be a difficult process and even overwhelming. Many people don’t do it at all, but rather just ‘wing it’ throughout the month. Sadly, that is what leads to many expensive complications that can hinder your financial health. In reality, if you take the next month and decide to focus your attention on fixing your finances, you will be good to go.

“If you outline a 12 month or 24-month plan, often times you will be discouraged,” says April Lewis-Parks, director of education at Consolidated Credit. “It’s not small enough to see progress right away. In a short amount of time, they can see progress and understand the different steps that need to happen to get to the next level financially.”

Here’s how to budget out your money through the month.

Day 1 – Day 5: Budget!

The first real step in fixing your finances is taking the time to budget. You really need to lay out what you’re working with. Look at your monthly income. Go through every dime that you spend each month. Use an Excel or Google spreadsheet to write down every bill and every expense, down to the subscription or coffee you get at Starbucks.

By doing this, you’ll get a clear picture of your financial health. Are you spending more than you’re making? Can you find a way to save money? Look for things to cut out of your budget to give yourself more room. If you’re not saving money, you’re setting yourself up for failure in the long run, especially if you lose your job or things go downhill.

Day 6 – Day 10: Saving!

The greatest goal you can have is to save at least 10% of your monthly income after paying for essentials. Put it into a savings account for a rainy day. If you want to truly be prepared for an emergency, the best word of wisdom is to have at least six months’ worth of expenses saved in case of an emergency.

Day 11 – Day 14: Determine Basic Changes

There are ways to cut down on your spending you may not even realize. There are a lot of small basic things you can do that add up to big savings. For example, switch out your light bulbs for something more efficient. Keep your heating and cooling during the extreme weather months set a better setting and turn off at night. Clean out your dryer vents. Cut the cable bill.

Day 15 – Day 17: Banking Needs

As you get through you month, you need to take notice at your banking habits. You might be paying extra fees you don’t realize every month. You can determine how your direct deposits every month are divided so a certain percentage goes towards bills, a savings account, and spending.

Day 18 – Day 20: Healthcare Needs

Your healthcare should be a priority. Sadly, many Americans skip this crucial step, mainly because they don’t think they can afford it. It can really hurt you in the long run. Also, there might be ways to lower your health care cost. Do the research. Look at your premiums. Consider what you’re paying out of pocket. It’s all part of the process.

Day 21 – Day 23: Manage Your Credit

A massive part of financial health is managing your credit. You should know what your credit score is. Having a bad credit score can make things a bit more expensive. Your monthly payments on things like a mortgage and auto loan can be less expensive if you have a good score. If you improve your credit, you can refinance your loans to make monthly payments cheaper.

Day 24 – Day 28: Manage Your Debt

If you have debt, the goal should be to pay it down as much as possible. Whatever you’re not stashing away for savings should be going towards your debt. If you want to gain financial freedom, you can’t do it sitting on a pile of owed debt.

Day 28 – Day 30: Prepare for Retirement

You might be thinking “Wow, this is more money I don’t get to spend,” but you really will get to spend it. It can take most of your working life to save enough to survive your golden years. Unless you want to work until you’re 80, start saving now.

Written by adminJune 3, 2019

Saving

There’s a new sheriff in town when it comes to savings account interest rates.

If you’re looking to build up an emergency fund, look no further than Wealthfront, a fintech company that provides their customers with automated investment options and financial planning.

Just this past week, they have raised their interest rates offered on their high-yield cash account to 2.51%.

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The national average savings account interest rate for traditional financial institutions is between 0.01% and 0.09%. With 2.5% APY, Wealthfront’s cash accounts get to work right away, earning you the highest interest rate in the market, almost 25 times above the national average.

To put this into perspective, you can expect to earn $25 in interest a year with the current rate for every $1000 that you deposit with Wealthfront. it’s a secure place to grow your cash and reach your short-term goals faster, so don’t leave money on the table.

What To Expect

Wealthfront was established in February this year, and to reassure their clients here are some of their key promises:

FDIC insurance of up to $1 million, which is four times the amount that traditional banks provide.
No market risk, as your cash is kept outside the stock markets, avoiding short-term volatility.
Unlimited, free transfers so you can move money in and out of your account as many times as you want.
No advisory or management fees. So you can earn more and keep more.
Fast and easy setup, all it takes is a couple of minutes to open an account from your phone.
$1 minimum deposit, no additional deposit requirements.

In addition to all these advantages, you also don’t have to be a current customer of Wealthfront to sign up for this savings account. The sign up process is seamless, akin to the Marcus by Goldman Sachs (2.25%) and Ally Bank (2.2%), two popular alternatives that also offer above-average interest rates.

How It’s Done

Wealthfront has already announced on their site that they have earned their clients over $5 million in interest since the cash account launched half a year ago.

To fulfill their promise of FDIC insurance, Wealthfront actually holds your savings at partner banks. Once your cash is at the partner bank, the insurance kicks in so you are assured your money is safe.

To make a profit, Wealthfront takes a small portion of the interest and keeps costs low by using automation. The interest on the account compounds monthly as interest is accrued on a daily basis.

The Competitive Edge

Online banks and fintech companies like Wealthfront are pulling far ahead of the competition when it comes to savings account interest rates. On average, their rates are six times higher than local banks and credit unions.

Depending on your state, the difference can surprise you. Oklahoma offers the highest average interest at 0.39%, and Arkansas banks offering the lowest rates at 0.13%.

Having your company presence all online also makes a difference when you can do everything from the comfort of your phone. Wealthfront doesn’t have any tellers, but you can call or email with questions. And Marcus by Goldman Sachs offers a live chat with a savings specialist that’s open seven days a week.

In the near future, Wealthfront clients can also look forward to updated deposit features including debit card and ATM access, direct deposit, and mobile check deposits.

If you want to build up emergency savings then an online savings account is the way to go. If you want some extra input you can always give the Financial Helpers a call.

Call Now 844-332-2079

Written by adminMay 25, 2019

Saving

Times are surely changing in the United States and not for the better. While the economy is roaring back to life after a decade-long recession, it’s not good news for everyone. There’s still a lot of income inequality and massive quantities of debt. Social Security is being drained out. The cost of living is rising while incomes are staying the same.

$20 used to buy you a lot more at the grocery story just a few short years ago. Gas prices are one crisis away from jumping past $3 and even $4 per gallon. All of these struggles and worries combine and prevent average Americans from being able to save any money. They can’t afford healthcare costs or insurance. Prescription drugs are too expensive.

And because so many people are living paycheck-to-paycheck, they worry about a lot of things. Retirement is one of them. If you can’t save money for retirement, you’re going to be worried about whether you can retire at all. In fact, one-fourth of all Americans already think they’ll never be able to stop working in their lifetime.

According to a study from the Economic Policy Institute, more than one-fourth of the population should be more worried about retirement. Over one half of working people have absolutely nothing saved up for retirement at all. Many apparently think they’ll be able to make up the difference at some point. They’re deluding themselves if they think they will.

Debt is a Major Driver in Preventing Retirement

There are several things that contribute to this lack of saving for retirement. Healthcare costs, longer lifespans than previous generations, and other issues can creep in. But the main driver is debt. Americans can barely afford to live on a typical salary and take out hefty loans throughout their lives. These loans have high interest rates and are difficult to pay back.

Maybe we can afford all of our bills, but many Americans borrow more than they can afford. If interest rates rise, then it hits the economy like a ton of bricks. One study from the Transamerica Center of Retirement Studies reveals that 66% of U.S. citizens say they’re biggest concern in life is paying off their debt.

The study also revealed that paying off debt is a major priority over saving money. “Retirement is all about cash flow. In my mind, it doesn’t matter what your income is. It doesn’t matter what your portfolio size is,” retirement expert Bill Losey told Bankrate. “It really all boils down to habits: having a plan, being frugal, making sure that you have a debt reduction plan.”

It’s so much debt, it’s difficult to pay off in an entire lifetime. Americans expect they’ll be paying the debt well into their golden years, forcing them to work longer than expected. That can be a difficult thing, as companies often like to replace older workers with faster, younger, and cheaper employees.

Retirees Aren’t Ready for Healthcare Hikes

If you think healthcare is expensive when you’re a young adult or even middle aged, you haven’t seen anything yet. It’s much more expensive when you’re at retirement age. It’s common sense. We get older, our bodies start falling apart more. We might be fine for a while, but eventually, our age always catches up with us.

Women in particular have it rough. They pay more in healthcare throughout their life than men do. They also live longer than men, so they spend even more money on healthcare and retirement then men do. In a lot of circumstances, women leave it to the men to budget the money and save, leaving them in a massive hole.

It’s really difficult to know what to expect when you’re older. Maybe we can look at family history and expect some health issues, but most people don’t. They don’t save or plan for accidents. They don’t have a rainy-day fund. Worst of all, they don’t save much for retirement at all, expecting it to be covered later.

Retirees Are Scared

As we continue to age, more Americans start feeling the retirement crunch. They begin to feel as if they won’t have enough money to last the rest of their life. What happens when they officially run out of retirement money? This is a real fear that’s growing. Retirees are becoming increasingly scared of running out of all their money before they die.

While this is going on, it’s going on quietly. The rest of us aren’t really as concerned about it. Statistically speaking, we’re showing we don’t really care to save money for retirement. More studies are coming out all the time proving that we don’t put our money where our mouth is. Short-term goals constantly take precedence over long-term goals and it’s hurting us.

Why save when we want that giant house or brand-new car? There are credit cards we need to max out buying stuff we really don’t need or care about once we have it. It’s this thinking that desperately hurt us later in life. We get to the point where we realized just how much money we wasted and regret not saving more. 68% of millennials have no retirement plan.

“Many people today are outliving their assets because they did not include retirement in their long-term financial goals,” says Doyle Williams, an executive at COUNTRY Financial. “Americans need to seek financial guidance now so they can eliminate the fear of never being able to retire. By taking some simple steps almost everyone can put a plan in place to secure their financial future.”

A World Economic Forum Study

A new study from the World Economic Forum bares all of this out. We’re living longer than we anticipated. “The key driver of the challenges facing retirement systems is increasing life expectancy and a falling birth rate,” the study says. “This leads to a smaller workforce supporting an ever-growing population of retirees.”

“The lack of awareness of the basics on how interest and returns will compound over time, how inflation will impact savings, and the benefits of holding a broad selection of assets to diversify risks means that many individuals are ill-equipped to manage their own pension savings,” WEF says. “Some groups are particularly vulnerable, including women, the young and those who cannot afford, or choose not to seek, financial advice.”

Written by adminMay 24, 2019

Life Style , Saving

Life is often strange and unpredictable. All it takes is one single incident to change the course of your life forever. Sadly, most Americans aren’t prepared for any bad things to happen. In fact, it’s estimated by the Federal Reserve that 44% of us don’t even have $400 in savings if we had an emergency. Depending on the emergency, you’d be out of luck!

A single emergency room visit alone, without insurance, costs anywhere between $150 and $3,000. But emergency room visits are only a single type of emergency. Imagine suddenly losing your job, your house burning down, or a natural disaster hits. How would you make it through? Would you survive the direct impact that even has on your life?

Here’s a list of ways you can get through an emergency situation if you don’t have money saved up.

1) You Can Sell Your Hair

This might seem like an odd thing to do, but if you have long hair, it can be quite valuable. A lot of people donate their hair to Locks of Love or other charities, but in a pinch, you can also sell it. There are several websites out there that you can sell your hair to from anywhere between $100 and $1,000, giving you a few extra bucks in a pinch.

2) Get Some Side Work

There’s nothing wrong with rolling up the sleeves and doing a little extra work for a few bucks. Maybe someone needs help with something, like a neighbor, who can pay you. Think about being a teenager again. How did you make money? Maybe you shoveled snow off driveways or mowed lawns.

There are some websites out there, like TaskRabbit, that allows you to find quick little jobs people need done. They can be chores or other tasks you will be paid to get done. Every little bit helps when you’re in a pinch.

3) Sell Some Stuff

Between garage sales and pawn shops, you have the capacity to rid of a few things you don’t need anymore. Most of us have things we’ve collected over the years. Perhaps some of it is quite valuable. Even if it’s not, you never know what someone is willing to buy. Selling old clothes, books, movies, etc, can be a great way to raise extra cash.

4) Crowdfunding

Indiegogo and GoFundMe are popular crowdfunding sites. Sometimes it pays off to push down your pride and simply ask for some help. Human beings love to help each other out and raising money to get through a tough time isn’t a bad thing at all. It can really help you get out of your bind. Friends and family often love to help, too, so don’t think of yourself as a burden.

5) Sell Stuff on Etsy

If you’re great at making things, that might benefit you. Maybe you only knit as a hobby and give away to family and friends, but you can sell your stuff and make extra cash. Websites like Etsy let people sell handmade products. It can take some time to really get good at selling, but many have made a living off the site.

Life can be difficult at times. The absolute best way to overcome any obstacles that come is to save your money. Have a rainy day fund so you’re always covered. The best advice is to save up at least 6 months’ worth of living expenses. Often times, emergencies hit you in more than only place, so be sure to have all your bases covered. Even if they’re not covered, hopefully these tips will help you get through it.

Written by adminMay 22, 2019

Saving

If you’re a millenial, odds are you’re not ready for a rainy day.

According to a new survey of 2,200 US adults conducted by Schwab’s Modern Wealth Survey, a dismal 39% of millenials say they have an emergency savings fund that can cover at least 3 months of living expenses if something unexpected comes up. That’s up from roughly 32% of millenials reporting that they had 3 months worth of emergency savings back in 2018.

What is more worrying, however, is the fact that 36% of those surveyed have no money whatsoever set aside for an unexpected expense.

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That is problematic when you have no control over your finances and start racking up debt for unforeseen shortfalls like car repairs and medical emergencies. Credit industry expert Ted Rossman at CreditCards.com says that having an emergency savings fund is “a buffer between you and high-cost credit card debt.”

Saving money is not an insurmountable obstacle like many make it out to be. Here are some ways to help you begin building up that foundation to help you weather the storm of life’s unforeseen circumstances.

How To Start Saving: Starting From Zero

So these are the statistics: only 39% of millenials have some form of a safety net according to Schwab’s survey. A staggering two-thirds are living paycheck to paycheck.

If you find yourself in the latter group, it might seem impossible to save anything. Farnoosh Torabi, host of the “So Money” podcast, admits that there are limitations to your spending power when you have student loans, credit card debt, and monthly bills. Torabi concedes that “getting into the habit of saving is simple as long as you commit to a plan of saving a little at a time.”

Start by setting up a savings account with you bank. Then set up a regular, automatic transfer from your checking to your savings account. This could be something small, like $5 a week. The strategy is to have the money leave your hands before you are able to spend it. Over the course of time, that small weekly investment will accumulate bit by bit and that will motivate you to do even more.

How Your Social Circle Affects Your Savings

Torabi breaks it down that money management is part math and part mindset.

The people around you can affect your spending and saving habits just as much or even more so than your own efforts to save. “If you’re hanging out with people who are constantly spending money, constantly keeping up with the Joneses, guess what? That’s going to have a big impact on their bottom line as well,” Torabi explains.

It will probably be in your best interests to keep spendthrifts at arms length. Instead consider surrounding yourself with more frugal-minded people who will influence you to make financially-sound decisions.

The same goes for your social media networks. Half of millenials surveyed said that social media influenced a large amount of their financial spending decisions. And 48% said that they overspend when spending time with their friends, on dining out, nightlife experiences, as well as group vacations.

Torabi suggests that “if you find yourself going down rabbit holes on Instagram, make sure to mute the accounts that you know are bad influences on your financial habits.” A couple hashtags like #financialfreedom and #moneymotivation will also be good to follow to keep you on the right track. And remember, if you would like to talk to the experts, the Financial Helpers are only a phone call away.

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Written by adminMay 17, 2019

Saving

We all have a goal of reaching our golden years with enough money in the bank to make it through. The problem is, we don’t know how much money we’ll need. Life is unpredictable. We could live another 40 years after retirement as modern and future medicine works to extend our life expectancy.

The best plan is to have at least a million dollars saved up by the time you’re ready to retire. A person can make it quite a while on that chunk of change. Not to mention the interest that will grow as you get older over the time that you’re saving up. Here are seven rules that will help you save $1 million by the time you retire.

Rule #1: You Must Make Saving a Priority

If you truly want to save $1 million, you can’t be a spender. This is the number one rule for a reason. You need to develop the mindset of saving as much money as possible. You can start saving at 23 and it will take you saving $400 per month, every month, to accomplish this goal. That takes having a lot of discipline!

Rule #2: Start as Early as You Can

The earlier you start your saving process, the much better the odds you’ll make it. The later you start, the more you’ll have to save each month to get there. Or you’d have to do some type of Wall Street investing into the right stocks. Still, the clearest and safest picture is investing early, especially so you can take advantage of compound interest on your savings.

Rule #3: Look at the Different Retirement Plans

Your employer might have a retirement plan they’re willing to help invest in. For example, 401(k) plans are to help you reach your retirement goals. Many employers match your own investment. By taking full advantage, you should consider putting in as much as your employer will allow you. Every dollar you invest is literally free money when they contribute the same.

If your employer doesn’t do a 401(k), then look IRAs. There are a lot of ways to help grow your retirement funds. Look at all of your options. Maybe choose a company that offers the right incentives so you’re in a much better place when it’s time to retire.

Rule #4: Keep Your Hands Off Your Retirement Funds

Something a lot of people try to do is borrow or cash out some of their retirement money. They might be going through a hardship or just need some quick cash. The thing is, it’s a bad idea to take from your retirement. Not only will taxes and fees be added into the equation, you will lose the added benefits you receive with compound interest.

Rule #5: Keep the Amount of Your Debt Low

Listen, if you have a lot of debt, it’s going to be extremely hard to save for your retirement. You most certainly won’t reach your $1 million retirement goal. If you have a lot of debt, you will have to pay interest on that debt and it’s going to sap your monthly salary. Those extra thousands of dollars on interest payments could be going into your retirement fund, but are instead wasted on debt.

The ultimate goal for living a life with financial freedom is to be able to save. You need both a rainy-day fund and a retirement account. That’s the best way to protect yourself and your family against bad times, a changing economy, and any accident that might happen. Be a saver rather than a spending and you’ll do fine.

Written by adminMay 17, 2019

Saving

Looking at gas prices rise to near or over $3 per gallon is disheartening for Americans. It wasn’t but a few months ago that we were enjoying some of the lowest prices we’ve seen in decades. It certainly helped our pocketbooks and improve the economy somewhat. When gas prices are lower, everyone saves a bit more money. That is, except Wall Street.

It’s all about supply and demand…or so they say. Every year, they predict that summer gas prices are set to rise as we enter peak driving season. Families are going on vacations and longer trips during the summer months. While that’s historically true, something else has been happening. Wall Street investors have been jacking up the price.

They love to use fear to cause panic in the oil industry. They’ll talk about wars in the Middle East, pipeline concerns, and even an increased demand. But that only gets the so far anymore. The supply of oil has actually been increasing. Cars are becoming more fuel-efficient, yet we keep pumping out a lot of gas. Even the United States has become one of the larger producers of gas during Trump’s presidency.

How Wall Street Manipulates Gas Prices

You see, Wall Street investors only make money on oil and gas when the prices go up. It’s like stocks. They buy early and hope the numbers pump up so they can get value from their investment. When prices are lower, they’re not making their money. So, they create a fake panic or fears that there’s a shortage.

In reality, that’s a farce. As already explained, there’s more than enough oil supply in the world. When they start talking about potential $4 gas prices, that is intended to get people to buy, driving up demand. Of course, Wall Street desperately wants $4/gallon gas, even though it was hurt nearly every other sector of the economy.

They use economic fears, like the situation in Venezuela or decide that Russia is going to clamp down production. It seems as if anyone coughs in the Middle East, it’s time to up gas prices. It doesn’t matter if it legitimately impacts oil production or not, all in the name of profit. The weakening Chinese economy is another fear they hope will drive up prices.

What to Expect this Summer

Despite Wall Street peddling out fake news and stoking fears, the rise we’ve seen in price over the past few months is unsustainable. There is just way too much supply. If there was indeed a shortage, then yes, their fears would work and the prices would remain high. The difference is reality hits and the amount of oil really dictate the price we pay.

Even though there are fears about a war with Iran and Venezuela, one group, the Energy Information Administration, says gas prices will probably go down this summer. In fact, they predict that the price of gas this summer will be lower than it was at this time last year. They’re predicting around an average of $2.76, lower than the current average.

Written by adminMay 10, 2019

Saving

This Sunday is Mother’s Day! We hope you didn’t forget this wonderful, special person in your life. Even if you’re broke and can’t afford much, there are plenty of simple, inexpensive, and fiscally smart gift ideas! Most of these gifts are considered classics and they’ll help you keep your budget under control.

As we say this, we don’t equate money with love. Just because something is a good financial choice doesn’t mean it’s a bad gift. We know moms want something from the heart. The more creative, the better! It’s the thought that always counts the most. So, let’s look at five classic Mother’s Day gift ideas:

1) Mother’s Day Flowers

Many people consider flowers cliché and boring. Nothing could be further from the truth. You also don’t have to spend a lot of money at the flower shop. You can buy a vase and flowers rather inexpensively and create your own arrangement. Many grocery stores have inexpensive flowers and plants you can use.

It is spring, so most supermarkets and hardware stores have plenty of plants and flowers to choose from. Make it as colorful as you desire and you’ll master Mother’s Day this year. And the fact that you put together the arrangement yourself, it’ll be like the first time she put your drawing on the refrigerator.

2) Handmade Gifts

Handmade gifts will make your mother’s heart explode with joy. These are worth more than probably anything money can buy. Just by reliving some precious memories you shared, a favorite family photo with a custom frame, and so much more can be the perfect gift. It is Mother’s Day, so reliving the joyful moments would be the perfect spirit of the holiday.

3) What Are Her Hobbies?

Everyone has hobbies and they can get expensive over time. If your mom loves to garden or is a big-time knitter, give her a hand. Buy her some yarn. Spend time with her in the garden. Help invest in her hobbies with both time and money. It should still be relatively inexpensive for you helping out in this way.

4) Get the Family Together

In a lot of families, rallying around the matriarch who has always taken care of everyone is important. Why not get the family together for a large BBQ? If you’re the organizer, ask others to bring food and help with the decorations. This can be fairly cheap if others are chipping in. The fact that everyone is coming together to celebrate her on Mother’s Day will warm her heart.

5) Gift Cards

We hate to go this option because gift cards can seem impersonal. It’s always the last resort for someone who doesn’t know what to get. But at the same time, it can be a good, inexpensive option. It’s your way of buying dinner or a nice massage. You can get her whatever she wants and she will absolutely love it.

Mother’s Day doesn’t have to be a difficult shopping day. It doesn’t matter what you choose, as long as it’s from the heart. She will love it either way. And if you’re a mom who is reading this, Happy Mother’s Day to you from Financial Helpers!

Written by adminMay 7, 2019

Credit & Debt , Saving

As we roar through May, the summer months are only a few weeks away! Soon, the kids will be off for their summer vacation. Maybe you’ve already planned your vacation and have everything saved up. That’s great! There are still ways you can save some extra money, especially if you’re a procrastinator.

If you have a lot of debt or are trying to save money, enjoying a cheap summer vacation isn’t a bad idea. You don’t have to waste a lot of money on frivolous stuff. For the most part, getting away from the office and spending time with your loved ones doesn’t have to be expensive. It’s the quality time that matters, not the amount of money you spent.

At the end of the day, saving money will better protect your family. That’s why we’ve written this blog. Here are 5 ways to save money on your summer vacation:

1) Do Your Best to Plan Ahead

Airlines like to sell seats the same way stores sell merchandise. Money savers know this trick well. You don’t buy swimsuits in the spring or during the summer months. You buy them off-season when they’re the cheapest. Stores are eager to get rid of extra merchandise, especially as the new season comes in. It’s like buying your Christmas decorations on December 27^th when they’re half off.

Airlines do the same. There are slow times of the year when not as many people are flying. There are peak times during the holidays and summer months. People are reserving flights, booking hotels, and renting cars if they’re not doing the drive themselves. So, the best thing to do in order to save money is plan ahead!

Right during the slow season, you can get some amazing deals. If you want until things start heating up again, you will be paying through the nose.

2) Avoid Popular Destinations

Just like airlines have off-seasons, so do popular destinations. Booking certain weeks of the year will be a difficult task if you want to save money. When everyone is trying to get down to Florida, tickets and rooms will be much more expensive than during the off-season. Same for anywhere else really.

3) Use Your Rewards

If you’re looking to save more money, don’t forget about any reward packages you might be subscribed to. Your customer loyalty points and credit card rewards might be helpful enough to bring down the cost for your summer vacation. If you don’t have a rewards credit card, then perhaps you should get one to save you money down the road.

4) Eat Basic Meals

Eating while on vacation can get expensive. Of course, you’re on vacation and don’t want to cook, either. But rather than chowing down on expensive seafood just because you’re in a tropical paradise, cooking yourself meals will save a ton of money in the long run. A lot of hotels have in-room kitchens. Many others have free breakfast.

Another trick for saving money is order your food to go! Don’t have it delivered and don’t dine-in. By going to pick up your food, you avoid tipping drivers or waitresses and that’s extra money that definitely adds up during a week-long vacation. Grab your meal and take it back to the hotel or just eat in the car!

5) Don’t Go on Summer Vacation Alone

When you were younger, you might’ve had roommates. Or, maybe you have roommates right now! Either way, you know it’s cheaper for a bunch of people to rent a place together. The same can apply to your vacation! Why not join with a relative or friends and rent a house together? By doing that you skip the overpriced and overcrowded hotels and can stay in a comfortable home with loved ones.

Your summer vacation doesn’t have to be expensive. Remember, it’s about the memories! Find cheaper places to spend quality time with loved ones. They’ll cherish the memories and forget everything else. Enjoy your summer without spending the rest of the year kicking yourself as you work to pay off the debt.

Written by adminMay 4, 2019

Life Style , Saving

Here at Financial Helpers, we talk a lot about finding ways to scrimp and save money. This is especially true if you have a lot of debt. Your focus should be paying that debt off and putting as much money into savings as possible. What a lot of people do instead is spend as much of is as possible. They spend it on things they don’t necessarily have to spend money on.

One way to save a few bucks each month is to get a membership at your local library. This is no joke! Libraries in the modern age are about more than just books. If you’re a big reader, going to a library itself is a major help to your budget instead of dropping $20+ on a new book you’ll probably only read once anyway.

Let’s take a look at the 6 ways your local library can help you save money.

1) You Can Borrow Movies

This is a major expense for a lot of Americans. We love our movies. We enjoy our downtime at the end of a long day. If you’re in a struggling pattern, shelling out bucks to rent a movie can add up. Usually these days, people hit the Redbox, order Pay-Per-View, or are subscribed to Netflix. This can easily add up each month.

Instead, why don’t you give your local library a shot? Yes, libraries lend out movies…for free! Most of the time they have and up-to-date variety of new releases as well as classics. The selections will vary, but it’s worth a shot to see if they have something you might want to see. This option can save you hundreds of dollars throughout the year.

2) They Do Lend Out Music

These days, not too many people still use CDs. For the most part, anything entertainment has hit the digital age quite a few years ago. But if you’re in a bind, libraries do have CDs you can borrow. They’re great for taking on long trips or listening to your favorite albums. They’ll get you through a tough time financially.

3) Internet Service is Provided

Yes, we get it! Internet is expensive these days! As more people decide to cut the cable cord to save money, you can do the same with internet! Mobile is becoming increasingly popular, so you’ll be able to stay connected with family and friends. Of course, you’d probably rather pay for your own Wifi, but this is an option if you need to save a few bucks. You’ll even have access to printers if you need to print, scan, or fax materials.

4) They Have Workshops and Classes

Libraries have all sorts of different activities to entice more people to enter their doors. The local library has a reputation of being old, stuffy places with just books. But in most cases, that’s not true anymore. You can find a lot of neighborhood activities for kids and adults alike.

For example, the library can have book readings for kids, workshops, yoga classes, guest speakers, courses on computer skills, resume building, and so much more. The New York Public Library alone has over 93,000 programs each year.

5) Read the Latest Books for Free

Reading is fun for a lot of people. We enjoy being transported into the author’s mind and taken on a ride. Digital books have changed the game quite a bit. There’s still something special about that book smell and feeling of accomplishment every time we open the cover. Digital books can never replace the nostalgia.

While you may enjoy collecting books you’ve read, most of the time, people only read them once before moving on to the next one. Sure, there are the few exceptions, but what’s the point of spending a lot of money on a new book just to read once? Instead, rent the book at your public library. It’s free and will save you a lot of money throughout the year.

6) Get Help with Research and Other Stuff

As #4 listed, the library is a great place to go for workshops and help. Among the other types of events they hold includes tax preparation, resume building, and even healthcare enrollment. If you have a need, they provide options. Librarians are great at helping people find the information they need.

The library is no longer a place to drive by on your way home from work. A lot of these places have been renovated and updated for the modern economy. Give it a look and use it to your advantage.

Photo Credit: Panda Gossips

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