Guest Contributor on Money Questions and Answers Blog

Top 4 Money Saving Tips for Home Essentials

There isn’t a single person in the world that would oppose cutting a few dollars from their monthly expenses. These are the best money saving tips for your home.

Monthly Expenses – Money Saving Tips for Essential Bills

Electricity

Those of you that live in an ever-changing climate know the struggle of expensive electric bills during the summer and winter months when you are blasting the A/C and cranking up the heat. During these months, your bill will increase significantly as these comforts require electricity to operate.

One of the best ways to cut these expenses is to use electric mattress pads in the winter and cooling mattress pads in the summer. These will keep your bed at a comfortable temperature and the costs will be negligible on your electric bill.

Monthly Groceries

When it’s time to reduce your monthly expenses one of the first things to go is eating at restaurants. These days even a cocktail will run you $10+ at a dive bar in populous areas. Eliminating this lavish spending will save you hundreds of dollars during the year. You will need to cook more at home, but you will find that no matter how much you cook there is always something that goes old.

Many people avoid buying fruit because it always goes old before you eat it. Investing in a food dehydrator will cut your food bill because you will be able to utilize all the food. There are dehydrated recipes for nearly all foods to get the most out of your groceries.

The Student Debt Relief Program Designed to Help Young Entrepreneurs

by Guest Contributor

Should You Take Out Private Student Loans for College?

Young Americans go to college to improve their odds of being successful and prosperous in an increasingly competitive society. Student loan debt, unfortunately, can inhibit the freedom that degrees are supposed to provide. Recent data shows that Americans bogged down with student debt are financially handicapped by it well beyond the years after immediately graduating.

Student Debt Relief Program to Help Young Entrepreneurs

Many now believe that borrowing money to pay tuition can create such financial hardship that it minimizes the advantages that should come from pursuing further education after high school. Senator Maggie Hassan of New Hampshire’s new bill leads a new effort to support recent college grads interested in starting their own businesses.

What is the Hassan bill?

The Hassan bill allows young entrepreneurs to defer college loan payments for up to three years, so they have more time and funds to launch companies. If these budding businesses are based in economically challenged communities, the recent grads launching them may have the option to cancel as much as $20,000 of their student loan debt after paying only a part of it.

Top 5 Early Retirement Killers That You Need to Know

by Guest Contributor

The following post is by ESI from ESI Money, a blog about achieving financial independence through earning, saving, and investing (ESI). Itís written by an early 50ís retiree who achieved financial independence, shares whatís worked for him, and details how others can implement those successes in their lives. He is also the author of a free ebook titled Three Steps to Financial Independence.

Early retirement is all the rage these days in personal finance circles.

And when I say “early”, I mean really early.

I retired at 52 and today’s crowd makes me feel like a slacker. People are retiring in their 30’s and 40’s these days with a handful even in their 20’s.

Of course the definition of “retire” is rather broad. Many still bring in income through side hustles or part-time work. But the common thread is that they are retired from full-time work.

If you would ever like to retire — and especially if you’d like to retire early — there are some landmines you need to avoid along the way.

Here’s my list of the top five killers of early retirement (and maybe retirement overall). I’ll also include some tips on what to do if you’re facing any of these challenges.

1. Having too much debt.

Debt is a killer in many ways.

First of all, interest costs add up, thus keeping you from saving enough to retire. Even with today’s low rates homeowners with 30-year mortgages are going to pay tens of thousands of dollars in interest.

And that’s if they actually pay off the house in 30 years. Many Americans have revolving mortgages due to moving, taking cash out of their home, and so forth that leaves them with one mortgage or another for well beyond three decades.

Second, debt’s mere presence will make it harder to reach a retirement number. For instance, if you have no or limited debt, the amount of income you’ll need to retire is going to be much lower (and thus easier to reach) than if you’re saddled with a ton of debt.

We got serious about our debt early in our marriage and paid off everything, including our house, within ten years. We then had 20+ years of hyper-savings to build up assets which allowed us to reach financial independence in our 40’s and eventually retire in our early 50’s.

4 Unique Ways to Trade the Financial Markets

by Guest Contributor

Ways Investors Are Trading the Financial Markets

The global financial markets can be an intimidating place for a novice. For starters, there is the stereotypical Wall Street trader who is perceived as ruthless, self-serving, and virtually untouchable.

Many of us at the grassroots level have been fed the narrative that the big banks and financial institutions on Wall Street control global finance and economic activity – irrespective of macroeconomic variables, regulations, and monetary policy.

There is probably an inkling of truth to all perspectives on the markets. However, there is plenty to go around for everyone. Provided you play your cards right, read market sentiment correctly, and hedge your bets, you can come out ahead in the financial markets.

Ways Investors Are Trading the Financial Markets

First of all, it’s important to identify what you’re trying to achieve. Are you after short-term profits or long-term appreciation of your capital? This will invariably determine whether you are better suited to trading or investing. Traders are not interested in holding assets for the sake of holding assets for long-term appreciation. They are interested in turning over those assets to generate profits in rising and falling markets.

Traders are quick to the draw and don’t get sentimental about their purchases. Investors realize that markets invariably go through plenty of cyclical movements, trends, upswings, and downswings. Overall though, equities markets have a propensity to appreciate relative to other investment opportunities.

How to Trim Down Your Dream Home’s Design If It Doesn’t Fit Your Budget

by Guest Contributor

The first phase of your home renovation project deals with a lot of budgeting and meeting with your architect to discuss the design you want. But, what if your vision costs more than you expected?

Matching your dream design and your budget is a challenge. You have two options: either increase your budget to meet your expectations or refine your visions to meet your financial capabilities.

Most homeowners choose the latter. Some feel a little disappointed because they realized they needed to let go of the home features which increase the construction costs. On the other hand, some homeowners discover that they can get the look they want for less!

How did that happen? Here’s our quick guide for you:

Step 1: Revise your dream plan with your architect

Maximize the capabilities of the architect or designer whom you hired for the project. They can do so much more than drawing your home’s pre-existing conditions and the final project plan.

Ask for their help in setting realistic costs of the building materials required for your project. If some of the materials you need to be turned out to be too expensive, inquire about possible cheaper or greener substitutes.

This is also the time to discuss the deeper and futuristic aspects of your project. Identify which parts of the renovation will need consultations from other building professionals. Discuss the possible construction costs so you can adjust your budget properly.

A Cost Comparison: Buying a New Vs. a Used Car

by Guest Contributor

You need a ride to get to work, to take the kids to school, and to run errands. Stretching each dollar to the limit is preferred, so it doesn’t matter if it’s a new or used car. It’s more about comparing costs and getting the best deal. Here’s what to know when buying a new or used automobile. Cost Comparison: Buying a New Vs. a Used Car What’s It Worth? Depreciation is a concept that car buyers soon come to understand. A car loses a significant amount of value as soon as it’s bought and driven off the lot. Consider the first year’s wear and tear, and you could lose $9,000 off of a $30,000 ride. Have you done a … Read more