The start of a new year always feels like the time to re-examine our goals and create new ones. It’s a common time to get your finances in order.
Saving challenges are popular for helping you get creative with saving. Sometime, there is hesitation to join them out of fear.
Nobody wants to do one and then fail to complete it, right? (more…)
The holidays can be a lot of fun and they can be very stressful. It is the season of giving, which often means it is also the season of spending. One of the best things you can do to help make the holidays a lot less stressful is to create and stick to a holiday budget. Creating a holiday spending plan will reduce your stress. And make sure you don’t go into debt this holiday season.
To combat seasonal budget blues, commit to ditching credit card spending entirely. Instead use cash only during the holidays. If you don’t have it, don’t spend it. I discovered that with this approach, planning is everything. If you plan early, you’ll have a comfortable nest egg built up by the time you start making a list and checking it twice. (more…)
Impulse buy, we’ve all done it! We go to the store for one or two inexpensive items and end up throwing a few extra things into the trolley. They look appealing or seem to a great deal. These impulse buys can drive up the amount you pay at checkout. And we often kick ourselves afterwards for spending money on them.
Before you start feeling guilty about it, know that you are not alone.
You can, resist the urge to add unnecessary items to your cart. The first step is knowing what the stores are trying to tempt you with so you know what the impulse triggers are. (more…)
Let’s imagine for a second that tomorrow your car breaks down tomorrow. Your anxiety is building wondering how you are going to get to work and then there is the repair.
How do you plan on paying for the repair? Do you dip into your emergency savings, or pull out your credit card?
The truth is, these types of expenses can be detrimental to your budget. You need to have a system in place that will allow you to pay for certain planned expenses with cash. So you are not getting into debt.
That’s where sinking funds come in handy. (more…)
Sick of making home loan payments? They can be a huge drain on your budget, especially if your bond is eating up a large part of your income. Not to mention all the interest you’re paying on the loan over 20 years.
A home loan is one of the cheapest ways to borrow money for most of us. But it can still rack up some serious interest over a typical 20-year loan term.
Want to say goodbye to your bond before the 20 years?
Here is how some people pay off their home loan early. And shave thousands off their interest payments. (more…)