Tag Archive | "Saving Money"

How to Get a Bigger House Without Buying a New One


If your family’s growing and you need extra space, get it without buying a new home or building an expensive addition onto your house. Here’s how.

Clear the clutter in every cupboard, closet, drawer and storage area. Evaluate your keepsakes. Scan photos to revive the memory later. Do you really need nine things to remember Aunt Lucy by?

When it comes to furnishings and décor, think vertical. Get as much off the floor as possible to create more space. Reduce the amount of furniture you have. Instead of using plant stands, hang them on hooks.

Simplify and Sell

Get rid of some of your seating, especially if kids enjoy plopping on the floor instead. Remove clutter catchers like extra tables. Minimize the scale of your furniture, too. Sectional sofas and giant coffee tables gobble up more space than separated seating and diminutive end tables.

A friend sold her oak entertainment center/curio cabinets, her children’s outgrown movies, and standard television. She then used that money to buy a wall-mountable flat screen TV with a built-in DVD player and two slim storage towers for her DVDs and found extra floor space without blowing the budget.

My family started keeping electronic records, which eliminated two filing cabinets in the home office. Downsizing from a sprawling desk to a taller, slimmer desk also created space.

On eBay, Craigslist or on a community bulletin board, list items that you wish to sell.  Hosting a garage sale is a perfect way to create some extra space.Search Ebay’s Want it Now section to see if anyone’s looking for your items.

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Maximize Space and Decorate Effectively

Now that you have more room and cash, you can really make strides in expanding your space. Select lighter colors to make your rooms open up visually when painting. Certain things can visually shrink rooms, such as heavy drapes, dim lighting, dark woodwork, busy patterns, and an abundance of knickknacks.

Efficiently use your storage areas. This will make your rooms seem bigger because you have fewer items in sight. Also, as an added benefit, you may be able to thin out more furniture per room.

By adding shelves in large cupboards, hanging shoe holders in closets and using over-the-door hooks, I’m given more closet space and the need for a coat tree is eliminated. I also like cascading closet hooks so shirts, skirts and folded pants use much less space.

Stow more with tables and ottomans that have built-in storage space. For example, using small, freestanding cabinets for nightstands lends us more storage than many tables would. Bunk beds with built-in drawers spared us from crowding the kids’ room with two beds and dressers.

I maximize the space under beds, couches and under the rod in closets. Plastic storage containers provide storage for whatever you want to stow nearby, such as throw blankets, board games, extra sheets, and toys.

Strategic Functionality of Your Rooms

Get more value from each room by multiplying its functions. This strategy may even garner an additional room. To merge his family room and home office and get an extra bedroom, Rich, a Pennsylvania dad, installed a tuner chip in his computer.

It functions as their television and DVD player, which eliminated the need for an additional screen and piece of furniture to house it. They aren’t big TV viewers, so this solution worked well for them.

Tuck a computer armoire in a kitchen or den because when the armoire doors are closed, it blends seamlessly with the room and nixes the need for a separate office.

Dale, a New York dad, gained two new bedrooms and a bathroom for his growing family by finishing off half his basement (check the building codes of your city before making structural changes). By completing most of the work himself with the help of knowledgeable friends, Dale saved quite a bit.

Compared with the cost of buying a larger home or building an addition, selling furniture and things you don’t need to “buy” more functional pieces and dividing large, open spaces to gain rooms still makes plenty of sense.

This has been a guest post by Deborah Jeanne Sergeant.  Deborah writes from her home in Wolcott, N.Y.

You can also find more room in your home by selling unwanted items. Hosting a garage sale is a perfect way to create some extra space.

Posted in Frugality, Guests, Personal FinanceComments (3)

10 Money-Saving Tips to Stash $10,000 – Tip #10


Tip #10 – Start Packing Lunches!

Welcome to our tenth and final day of our journey, where we are looking at 10 money-saving tips to help save $10,000!  

This has been a really fun series of posts and it’s garnered a lot of great comments!  Keep ‘em coming everyone!

If you missed the introductory post of 10 Money-Savings Tips to Help You Stash $10,000 you’ll definitely want to check it out so we’re all on the same page.

But to sum it up – here’s our mission:

  • The Goal: Save $10,000
  • By When: This time next year
  • How: By implementing 10 money-saving tips

For the last couple weeks we’ve looked at one money-saving tip each Monday through Thursday.  If you have a tip that hasn’t been mentioned, or you’d like to add some additional thoughts to one of our existing tips, please let me know your best money-saving tip here!

We’d love to hear your stories of what you did and how much money you saved by implementing your tip!  If you’re a blogger and have posted about your money-saving tip, please include a link to your post!

Remember – each of these alone don’t seem to add much savings, but when combined they add up to over $10,000 of savings over this next year!  Even if you don’t reach that $10,000 mark, saving a few grand this next year will help build an emergency fund or get you started on investing!

Here’s what we’ve been through so far:

Tip #10: Start Packing Lunches!

Ok, so this one is similar to Tip #1, but I think it’s different enough to make a distinction and a separate post.  I guarantee there are some families that don’t go out to dinner very much as a family, but eat out for lunch almost every single day.

This was definitely the case for some folks I use to work with at former places of employment!

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How Much Does It Cost?

Well, this depends if you only have a half-hour for lunch and need to grab something quick, or if you’ve got an hour for lunch and like to hit a sit-down spot!

If you figure the average fast food meal costs anywhere from $5 to $8 depending on what you get and where you live and the average sit-down meal is somewhere in the $8 to $12 neighborhood, you’re looking at $25 – $60 a week if you’re eating out every day! 

Not only does going out for lunch all the time decrease the wallet size, but it increases the belt size!  Going out for lunch all the time is not good for you – unless of course you are disciplined and always make the healthy choice – I know I don’t!

But Leftovers Might Kill My Career…

Think I’m crazy?  Think again.  Helena Echlin from Chow.com says that bringing your leftovers makes you look less successful and also makes a statement to others that you are anti-social!

Maybe you should stop bringing your leftovers in your Superman lunch box – seriously, no one wants to know that you’re a big Clark Kent fan!

I don’t know, maybe bringing a lunch does ding your image.  As a self-employed, independent contractor, I guess I never really had to worry about the silliness of climbing the corporate ladder.  But I guess i can see the point.

Image vs. Reality – What’s More Important?

So bringing some leftovers to work makes you look like you’re at the bottom of the food chain!  It’s like anything else in our society these days – do we live for our image or do we live in reality?

How many people do you know that seemingly have it all – a lot of toys, a big house and nice cars – yet they’re up to their eyeballs in debt!

They aren’t rich, they just act like it!  So, let your co-workers rip on you because you’re bringing your leftover casserole while they throw their $15 lunch on their credit card and have some laughs.

You’ll have the last laugh after you’ve gotten out of debt and stashed $10,000 over this next year!

But I Don’t Know What to Pack!

Need some ideas for packing lunches?  Check out Alan’s Kitchen and his list of quick and easy lunch recipes!  If you have a plan in place you are much more likely to act on it.

One of the biggest tips to help you start packing lunches is to prepare a “leftover container” right after dinner that you can take with you for lunch the next day.  I know for myself that if the food isn’t in an easy-to-grab container the odds of me putting it in one in the morning decrease dramatically!

Estimated Savings: $25 – $150 per month

Let Us Know in the Comments

  1. How much have you saved by packing lunches
  2. Have you felt the temptation to go out for lunch to protect your image?

Check Out All The Tips From Our Series

Tip #1: Cut Back on Going Out to Eat

Tip #2: Evaluate Your Entertainment

Tip #3: Cut Your Cable

Tip #4: Turn Your Heat Down

Tip #5: Negotiate Your Cell Phone Plan

Tip #6: Get Rid of Your Land Line

Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

Tip #8: Use Coupons, For Everything!

Tip #9: Negotiate Your Home and Auto Insurance

Tip #10: Start Packing Lunches!

Posted in Frugality, Personal Finance, Saving MoneyComments (6)

10 Money-Saving Tips to Help You Stash $10,000 – Tip #3


Tip #3 – Cut Your Cable

Welcome to day three of our roughly 10 day journey to save $10,000 over this next year. If you missed the introductory post of 10 Money-Savings Tips to Help You Stash $10,000 you’ll definitely want to check it out so we’re all on the same page.

But to sum it up – here’s our mission:

  • The Goal: Save $10,000
  • By When: This time next year
  • How: By implementing 10 money-saving tips
  • For the next couple weeks we’re going to look at one money-saving tip each Monday, Tuesday and Wednesday.

    On Thursdays we’re going to hear Personal Finance bloggers’ and hopefully some readers’ ideas and experiences on how they’ve saved money!

    If you’d like to be included in the Thursday posts – please let me know your best money-saving tip here! We’d love to hear your stories of what you did and how much money you saved by implementing your tip!

    If you’re a blogger and have posted about your money-saving tip, please include a link to your post!

    Tip #3: Cut Your Cable

    I know I’m stepping on to some thin ice here, but I just have to do it.  The average digital cable subscriber spends approximately $75 per month and many pay well over $100!

    Now before you get too upset – I am NOT suggesting you need to get rid of your cable altogether, although there are some who are in full support of cutting cable completely and have saved a lot of money doing it!

    Take for example, Kita – from Personal Finance Journey.  She recently posted about how she got fired up to knock out some debt and made a radical decision to cut off her cable completely and saved over $70 per month!!

    What I’m suggesting here is at the very least taking a look at your bill and sacrificing a bit to help shave some expenses.  Especially with all of the technology out nowadays like streaming from Netflix, Xbox or even just using your computer to watch shows online – there is no reason why you can’t find the shows you want.

    Seriously, do you really need 800 channels? 

    My wife and I just recently moved in our new house and after some debate we decided to go with the Direct TV family package, which includes channels we like HGTV, DIY and Food Network.  It also has all the cartoon and kids programming that we wanted as well since we have a daughter that is totally into Dora.

     It only has 50 channels, but the regular rate is $43 per month with taxes! 

    It doesn’t have ESPN, but can I get by without it?  No – I mean Yes, yes I can.  I can actually check any highlights I want on ESPN.com! 

    Will I miss some games I really want to see?  Sure, but I can see most of the games that I’m into and if there is something I want to see, I can always find a friend or family member and invite myself over!

    I remember talking to someone a while back who was loaded to the gills with credit card debt.  It was so bad that the interest being paid was similar to most people’s mortgage payment! 

    One of the things they staunchly refused to cut back on was their $150 cable bill stating they “needed” all those movie channels and premium packaging for their teenage boys.

    One of the things you can do also is to negotiate with your cable provider for a lower rate.

    So, take a look at your cable bill – see if there are some channels that you can do without for a while and give your cable company a call!  You’ll be glad you did.

    Estimated Savings: $25-$75 per month

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    Check Out All The Tips From Our Series

    Tip #1: Cut Back on Going Out to Eat

    Tip #2: Evaluate Your Entertainment

    Tip #3: Cut Your Cable

    Tip #4: Turn Your Heat Down

    Tip #5: Negotiate Your Cell Phone Plan

    Tip #6: Get Rid of Your Land Line

    Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

    Tip #8: Use Coupons, For Everything!

    Tip #9: Negotiate Your Home and Auto Insurance

    Tip #10: Start Packing Lunches!

    Posted in Frugality, Personal Finance, Saving MoneyComments (9)

    10 Money-Saving Tips to Help You Stash $10,000 – Tip #2


    Tip #2 - Entertainment

    So, we’re on day two of our roughly 10 day journey to save $10,000 over this next year.  If you missed the introductory post of 10 Money-Savings Tips to Help You Stash $10,000 you’ll definitely want to check it out so we’re all on the same page.

    But to sum it up – here’s our mission:

  • The Goal: Save $10,000
  • By When: This time next year
  • How: By implementing 10 money-saving tips 
  • For the next couple weeks we’re going to look at one money-saving tip each Monday, Tuesday and Wednesday. 

    On Thursdays we’re going to hear Personal Finance bloggers’ and hopefully some readers’ ideas and experiences on how they’ve saved money!

    If you’d like to be included in the Thursday posts – please let me know your best money-saving tip here!  We’d love to hear your stories of what you did and how much money you saved by implementing your tip!

    If you’re a blogger and have posted about your money-saving tip, please include a link to your post!

    Tip #1: Cut Back on Going Out to Eat

    Tip #2 Evaluate Your Entertainment

     wheredidthemoneygo

    Over the course of this journey, we’re breaking down the US Bureau of Labor’s statistics on average consumer expenditures and taking a look at some ways to cut back. 

    Next we tackle your entertainment.

    Maybe your entertainment budget includes going out to eat like ours does, but even so you should probably evaluate your other forms of entertainment.

    According to the most recent survey, the US Department of Labor reports that the average American family unit spends $2,698 a year on entertainment costs – or roughly $225 per month!

    Are you movie buffs and love going to the theatre?  You’re well aware it’s easy to drop a 20 spot without blinking.  After your ticket, a popcorn and a soda, your Andrew Jackson is throwing you a goodbye kiss on the way to the register!

    Maybe you enjoy going to professional sports games, going out for a night on the town with some friends or hitting up the local Starbucks several times a week while reading a book. 

    Again, the challenge here is not to get you to stop doing these things – it’s to challenge your conventional thinking to see if there are some ways to trim the fat.

    Finding Frugal Entertainment Alternatives

    If you’re a social butterfly, this doesn’t mean you have to turn into a homebody or that you can’t get out of your house to have some fun, but think about some alternatives.

    How about starting a Frugal Club like Tisha talks about over at Wise Bread.

    The first rule of Frugal Club is you don’t talk about Frugal Club!

    Sorry, just seeing who’s on their toes.

    Try waiting for a movie to come out on DVD or going to the town’s local theatre if you have one.  Sure, you won’t get to see the latest and greatest, but you’ll save some money.

    Try getting together with some friends at your house and enjoy a game night! 

    We just did this last weekend with some friends.  We ordered pizza, played some games, had great conversation and a ton of laughs!!  Total cost?  $10! 

    Get your friends on board with your saving challenge so they’re not enticing you to go out every night. 

    Try alternatives like local museums that offer free or discount days. 

    You get a bunch of friends together and go camping.  My wife and I do this every year and we love it!

    Get creative, frugal living doesn’t have to be boring! 

    You don’t have to stop spending on entertainment, just look for some fun ways to cut back.

    Estimated Savings: $25-$100

    Share Your Thoughts!

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    Check Out All The Tips From Our Series

    Tip #1: Cut Back on Going Out to Eat

    Tip #2: Evaluate Your Entertainment

    Tip #3: Cut Your Cable

    Tip #4: Turn Your Heat Down

    Tip #5: Negotiate Your Cell Phone Plan

    Tip #6: Get Rid of Your Land Line

    Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

    Tip #8: Use Coupons, For Everything!

    Tip #9: Negotiate Your Home and Auto Insurance

    Tip #10: Start Packing Lunches!

    Posted in Frugality, Personal Finance, Saving MoneyComments (2)

    10 Money-Saving Tips to Help You Stash $10,000!


    Who doesn’t love to save a little extra cash each month? Finding ways to save money, trim the fat and pocket some coin each month isn’t easy, but it is simple.

    The question is, “Will you do what it takes – and if so, what will you do with the extra savings that you find each month?”

    Saving the extra cash is critical because let’s face it, the average American spends more than they make

    Most people find other ways to spend their money rather than socking it away into an emergency fund or long-term savings.

    But, if you got on board with this challenge, you’ll be in much better financial shape, feel better about yourself and your future and be in a position to do things you really want to do with your money like helping others.

    So here’s what we’re going to do: 

    • The Goal: Save $10,000
    • By When: This time next year
    • How: By implementing 10 money-saving tips 

    The Plan to Save $10,000

    For the next couple weeks we’re going to look at one money-saving tip each Monday, Tuesday and Wednesday. 

    On Thursdays we’re going to hear Personal Finance bloggers’ and hopefully some readers’ ideas and experiences on how they’ve saved money!

    If you’d like to be included in the Thursday posts – please let me know your best money-saving tip here!  We’d love to hear your stories of what you did and how much money you saved by implementing your tip!

    If you’re a blogger and have posted about your money-saving tip, please include a link to your post!

    When all is said and done and you’ve implemented each of these 10 tips, you’ll have saved over $10,000 this next year! 

    Of course, not everyone will be able to save 10 G’s, but even if you don’t save quite that much, saving a couple thousand bucks will be worth it!! 

    So, are you ready to come along for the ride? 

    Let’s save some money!!

    Tip #1: Cut Back on Going Out to Eat

    Let’s be real here.  We probably all spend a little too much on going out to eat.  It’s hard to walk out of  a chain restaurant and not drop $30-$40 on a meal if you get an appetizer, two entrees and a couple drinks!

    How often do you do that per month or even per week?  As you’re well aware, this can add up pretty quickly.

    According to the Bureau of Labor Statistics in their 2008 Consumer Expenditures press release - they cite the average 2.5 unit household spend approximately $2,698 on food away from home

    That works out to be roughly $225 a month on going out to eat!! 

    Let that sink in a minute.  $225.

    Now, I love going out to eat – who doesn’t right?  It’s fun, it’s easy and there is some pretty good food out there.  But hear me out for a second -

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    What if, instead of going out three, four or five times a month you cut that back by two!  Only two! 

    I’m not asking you to give up eating out completely – that’s just silly and you and I both know YOU WON”T DO IT!  It won’t be a goal you can commit to for a long period of time.

    But, giving up two meals is a goal that you can reach!  Give it a shot next month and see what happens. 

    What should you do instead?  Well, invite some good friends over, grill out or cook a good meal and enjoy conversation at home rather than in a restaurant.

    Or, why not invite a few couples over and each have them bring something.  You can do dinner theme’s so everyone brings something that goes together. 

    Start rotating houses every month and have a good time with great friends eating good food and saving some good money.

    You’ll be surprised at how much fun you can have by doing this and you’ll feel good about yourself that you saved some money!!

    Estimated Savings: $40-$100 per month

    Share your thoughts below on how much you’ve saved by cutting back on eating out!

    Check Out All The Tips From Our Series

    Tip #1: Cut Back on Going Out to Eat

    Tip #2: Evaluate Your Entertainment

    Tip #3: Cut Your Cable

    Tip #4: Turn Your Heat Down

    Tip #5: Negotiate Your Cell Phone Plan

    Tip #6: Get Rid of Your Land Line

    Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

    Tip #8: Use Coupons, For Everything!

    Tip #9: Negotiate Your Home and Auto Insurance

    Tip #10: Start Packing Lunches!

    Posted in Personal Finance, Saving MoneyComments (25)

    This Week in Personal Finance – February 19, 2010


    Well, investors will be getting a wake-up-call this morning from the Fed letting them know that easy money won’t be around forever!

    Thirty minutes after the markets closed on Thursday, the Fed raised the rate it charges banks for emergency loans by a quarter percentage point to 0.75%.  This was a move that came as a bit of a surprise to most analysts.

    It’ll be interesting to see how the markets respond to this today.

    Well, it’s another week in the books and it’s time for a quick tour.  This Week in Personal Finance takes a look at interesting articles, posts and news from the past week in the personal finance arena. 

    So give these articles a click!

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    R2 Around the Web

    I had two posts on Christian PF this week:

    My post Finding Happiness: How You Can Own More by Owning Less was included in Canadian Finance Blog’s weekly round up.

    Have a GREAT weekend everyone!!

    Posted in Personal Finance, This Week In Personal FinanceComments (3)

    This Week in Personal Finance – February 12, 2010


    It’s been a great week!  My first post as a writer went up on Christian PF (see link below).  I’m excited about the opportunity to write for a great site like that.

    The markets have been a little crazy this week and there still a lot of talk about our national debt.  The best thing we can do is focus on changes to our own personal situation. 

    Anyways, This Week in Personal Finance takes a look at interesting articles, posts and news from the past week in the personal finance arena. 

    So give these articles a click!

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    R2 on the Web

    I’ve recently been “hired on” as a writer over at Christian PF – one of the leading Christian personal finance blogs out there! 

    This was a great honor to be asked by Bob Lotich to contribute articles on a regular basis. You can check out my first on called Blueprint to Building Your Financial House!

    Also, Tipd.com is a financial news website where users vote up their favorite articles.  My article 6 Ways to Find Free Money received enough votes to be the #1 article on Tipd’s Greatest Hits!  Thank you to everyone who voted for it!

    That article was also included at Fiscal Geek’s Perma Friday Round Up and Canadian Finance Blog’s Friday’s Links post.

    4 Money Lessons from a Fool was included in One Money Design’s Friday Round Up.

    Have a great weekend everyone!!

    Posted in Personal Finance, This Week In Personal FinanceComments (4)

    3 Fun and Geeky Ways to Save With Your Email


    I know you must be an experienced saver (you are reading this blog!). But there are still money-saving tricks you are probably not aware of.

    Let’s take a look at three of them.  Here’s my list of  3 fun and geeky ways to save with your email.

    1. Create a Money-Saving Gmail Filter

    If you have ever bought anything online, you’re probably subscribed to the store’s email updates.

    Or perhaps you have a few favorite stores you turn to on a regular basis that offer good coupons and special offers.  Wouldn’t it be nice to track deals from those stores without stuffing your Gmail inbox?

    Here’s a way out: create a Gmail filter.

    1. Login to your Gmail and go to: Settings – Labels and create a new label called “DEALS”

    2. Go to: Settings – Filters and click “Create a new filter”

    3. Submit the following values:

    • From: *@amazon.com OR *@ebay.com OR *@barnesandnoble.com OR (*@yourfavoritestoredomain.com)
    • To: me

    Gmail filter save

    4. Go to the next step and choose the following:

    • Check “Skip the inbox” (to avoid clutter in your inbox);
    • Star the message (you will be able to unstar after you check the deal details);
    • Apply the label “DEALs” (to collect all the offers in one place).

    Gmail filter save

    You are done! Now, every time that a new deal comes from the store you track, it will automatically be stored in your “DEALs” folder.

    2. Create a Customized Money Alert

    Another way to track online deals and avoid email clutter at the same time is to create a customized email alert - this way you will only be updated on what really matters to you.

    My favorite site to do that is Buxr. The site allows to customize your email alert by:

    • The store name (choose “All” if you have no particular seller in mind);
    • Type of a deal (coupon, sale, product or all);
    • Any term:

    Buxr deal alert

    This way you will only get updates on all deals related to “laptops”.

    3. What If There Is No Email Subscription Option?

    Sometimes you really love the site and you would like to monitor their updates but they don’t offer an email subscription option.  No worries.

    Let’s say the site is “ListFreeSamples.com” (I personally use this site as the freebie source but it has no email subscription option), so here’s what you need to do:

    Go to Google Alerts and create a new email alert for site:listfreesamples.com:

    Save with email

    You are done. Once Google finds anything new on the site, it will update you via email.

    Any more tricks on saving money with your email? Please share them in the comments!

    This is a guest post by Ann Smarty who blogs on searchand social media. If you are looking for guest bloggers or blogs that need contributors, join Ann’s forum called My Blog Guest.

    Posted in Frugality, Guests, Personal Finance, Saving MoneyComments (8)

    This Week in Personal Finance – January 8, 2010


    This Week in Personal Finance takes a look at interesting articles, posts and news from the past week in the personal finance arena.  Give these articles a click!

     

    Win Great Prizes from Money Crashers!

    Money Crashers is sponsoring a 2010 New Year Giveaway Bash with over $6,200 in prizes for performing certain actions (like re-tweeting their posts etc.) and entering their contest.  Check it out!

    In Case You Missed It!

    Here are a list of Guest Posts I had over the last month:

    Posted in This Week In Personal FinanceComments (1)

    5 Reasons Why Some People Never Get Ahead Financially (And Others Do)


    Photo by: Sherwoodsf

    Meet John.  John’s a nice guy, has a stable job and is making a good income.

    He’s got a good marriage, has two kids and a dog.  He drives a newer car, lives in a nice neighborhood and plays golf a couple times per week.

    From the outside, it looks like John is living the ultimate American dream.

    But a quick peek under the hood will reveal that things aren’t always as they seem.

    He’s got some credit card debt – “Nothing major”, John would say about his $5,000 balance.  “That’s less than the average right?”

    He also has a mortgage and a Home Equity Loan he took out to pay off some earlier debt.  In fact, he and his wife are upside down on their new house since home values dropped.

    Against the advice from a friend, John took out a loan from his 401k for a down payment on their new car.

    The car is financed at 0% and I’m paying myself back at 7 – It’s a no brainer!

    John says as he flashes a smile like he just got away with something he shouldn’t have.

    He’s also lost a lot of money in his 401k becuase he kept putting off a review of his funds and allocation.

    John and his wife are getting nowhere fast.

    Ever feel like you’re spinning your wheels when it comes to your finances?

    You’re not alone.  Why do some people get ahead while others seem to barely squeak by?

    Identifying the reason can help you get on the right track.  Here’s five reasons why some people never seem to get ahead:

    Laziness or Procrastination

    Most of us put off the things we don’t like to do and we are very eager to do the things we love.  If you’re not a big fan of dealing with your finances, you might find yourself putting things off that need to be done.

    Things like 401k reviews, starting a budget or getting a plan in place to pay off credit cards may not sound like fun, but the longer you put them off the worse your situation can become.

    Not Taking Advice

    For whatever reason, some find it difficult to take advice - or at the very least they find it hard to implement.

    Seek good advice and put it into action.  If you don’t agree with the advice, that’s one thing.  It’s quite another to agree and simply ignore it.

    I’ve seen many examples of people not taking advice and continuing down the path of least resistance and never getting ahead financially.

    No Self Control

    Do you consistently spend more than you make?  You need some self control.

    It takes a lot of effort and discipline to say no to the things you want to have – especially when you’ve been used to buying whatever you want.

    Learn to say no to those things.  Discipline and self control will go a long way towards helping you get ahead financially.

    Not Specific With Financial Goals

    If you are constantly talking in generalities, you will rarely reach your goals.

    Folks who don’t specifically state what they want to accomplish are less likely to achieve what they’re hoping for simply because they lack clear direction.

    Get serious about turning your “I should’s” into “I will’s” and you will start seeing progress.

    Bad Things Seem to Always Happen

    Some people never get ahead because it always seems like something is going wrong.

    The car breaks down.  The roof starts leaking.  Family members need financial help.  Or any number of other things that could go wrong do go wrong.

    This is why it’s vital to have an emergency fund, which can help soften the blow that these bumps in the road will have on your situation.

    What to Do About It

    The reason some people seem more successful at getting ahead is because they recognize these areas and take action to overcome their obstacles.

    Once you’ve identified the reason why you’re not getting ahead financially it becomes much easier to work at overcoming them.

    If you’re falling into one of the categories listed above, sit down and write out an action plan of what you will do to help yourself overcome and get on the road to financial health.

    Tell someone you have a close friendship with who can help you stay on track.

    What about you?  What are some ways you’ve overcome some of these obstacles?

    Posted in Personal Finance, Saving MoneyComments (3)

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