New article posted at "Everything Finance"
Everything Finance
New article posted at "Everything Finance" |
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Why You Should Skip Valentine’s Day Posted: 31 Jan 2014 11:16 PM PST
Yes, you read that right – skip it. I’ve been dead serious when I say that all I want for the occasion is a pair of pink socks to put in my hospital bag. I’m having twins in just a few weeks, and I’ve been so focused on preparing my mind and my home for them that I’ve hardly had a moment to notice that Valentine’s Day is just a few days away. So, if you’re trying to decide whether or not to pay any attention to the occasion, here are some good reasons to skip it: 1. People Have Really High ExpectationsThere’s just something about the holiday that makes people go crazy. Maybe they expect a large bouquet to be delivered to their work or they expect a couple’s massage. Either way, they are often left disappointed when their partner doesn’t do exactly what they were hoping for. That’s why I told my husband I just wanted a pair of pink socks and that I was going to wait until after Valentine’s Day when they all went on sale to buy them. In years past, we’ve done the fancy restaurant thing and we even got engaged on Valentine’s Day but now we’ve really got one thing on our mind and that’s getting ready for these kids! 2. It’s Such a Money Making SchemeLike all major holidays, this one is also just a big money making scheme. Although the decorations aren’t nearly as bad as they are around the Christmas holidays, there’s still a lot of junk spilling over into the aisles of your nearest and dearest big box store. Given that we’re still in questionable economic times, I really hate the materialism that surrounds any holiday. I think there are a lot of way to show you love someone without the jewelry and the excess. Just making your other half a nice breakfast or writing a sweet note is a great way to show you care. 3. It Makes Others a Little SadEvery year on Valentine’s Day, I have a few single friends that get really down. All of the love and gush and hearts and flowers can make them feel really alone and upset. Holidays are supposed to be fun, sweet, and uplifting. So, if you’ve been in a relationship for a long time, why not skip Valentine’s Day this year and spend it with one of your single friends instead? You can take then to a movie or talk about horrible dates you’ve had in the past and just keep their mind off of their recent bad breakup. After all, Valentine’s Day can be more than just showing your love for your other half. You can use it as a time to show your appreciation for all of your friends, family members, and colleagues who make your world a better place. Are you going to skip Valentine’s Day this year? RESOURCE CENTER
    
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People Don’t Change: Learn This & Save Yourself Time and Money Posted: 02 Feb 2014 11:00 PM PST
Take dating. Let’s say you’re dating someone that you really like. In fact, you could even see yourself settling down with her. But there’s one tiny problem. Your sweetie is a spendthrift. She has a closet full of clothes, many of them still with the tag on. She has shoes, lots and lots of shoes. More shoes than you can even imagine one person wearing. But it’s not just the clothes. She drives a nice car even though she has trouble affording the car payments. She loves to get her hair done and go for a manicure and pedicure. She loves to look nice. You like that she looks nice, but you don’t like the price tag that goes with the personal maintenance. Should you marry her, or should you walk away? That depends if you want to be married to a spendthrift or not. Chances are high that she won’t change. While her spendthrift ways are concerning now, how will you feel 10 or 20 years from now if she keeps spending the way she is? Will you be annoyed? Will you fight with her about money and try to force her to change? Many people do that and end up divorced. Of course, with divorce often comes a financial drain. You may need to split your assets, including your retirement. Marrying someone with the hopes that they will change can cost you years of your life and your life savings. People don’t change. I hear you. You’re arguing now that some people do change, and I’ll agree with that. Some people do change, but they’re not the majority. I have a friend, Jenny, who was a terrible spendthrift. She married Ron, who was so disciplined with his money that he bought a brand new truck with cash when he was in college. Ron’s never been in debt. He budgets, uses coupons, and tracks where he spends his money. Jenny and Ron have been married nearly 14 years now, and you’d never know that Jenny used to be a spendthrift. Now, she’s just as financially responsible as Ron, and they are in excellent financial standing. Their house is paid for, they don’t owe anyone anything, and they have a large retirement and college fund. Ron is even paying for his elderly parent’s care at a facility near him. Jenny changed. Yes, change can happen. But it’s rare. To go into marriage expecting someone to change is a recipe for disaster. Oprah has stated, “When people show you who they are, believe them. Why must you be shown 29 times how they are? Why can’t you get it the first time?” As much as you may love someone, you can’t change them. If your girlfriend or boyfriend’s spendthrift ways drive you crazy, as difficult as it is, you’d be wise to not get married. Have you gone through the experience of trying to change someone? How did it go? |
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When Is Buying Used A Bad Thing? Posted: 06 Feb 2014 09:04 PM PST
However, my husband isn’t the biggest fan of buying used items, and I totally respect that so I have to search for auctions that have new items in them – or new-ish. If he can buy something on sale, he usually does, but he really doesn’t really want to wear something that other people have worn. Maybe it’s a guy thing. I personally don’t mind buying used clothing. In fact, I kind of love the thrill of the hunt. At the same time, when it comes to cars or houses, my husband doesn’t mind used at all. In fact, he acknowledges that it’s often wise to go that route. Basically, not all used items are created equally in my house, so here’s when I think buying used is a bad thing: 1. If It Lessens The Quality of the ItemIf I buy something used, I’d really prefer for it to at least appear new. For example, lately I’ve been searching for cloth diapers on eBay. Cloth diapers are a rather expensive upfront investment, and sometimes you can find them from families who tried them for a week and then gave up the practice. I’m much more likely to bid on that type of auction than to bid on diapers that were used for 18 months. Even if they are still in good shape, they might not last as long, and the whole point of the cloth diapers is to not have to keep buying them. 2. If The New Item Costs Just a Little Bit MoreI won’t buy something used if I can buy a new one for just a few dollars more. Sorry to use another baby example, but babies are on my mind: Why would you buy a set of 5 gently used onesies for $18 when you can get a brand new pack for $20? Maybe some people are more frugal than I am and they can really benefit from saving an extra $2. However, for me, it’s just not worth it, and I’d rather have something new if there isn’t much of a price difference. 3. If You’re Not Sure About SafetySometimes used items can be a really great deal financially; however, they might be quite a bad deal in terms of safety. For example, I probably wouldn’t buy used scuba equipment or a used trampoline. That’s just me though. I feel like there are just some things in life where it’s wise to be absolutely sure that something is well made or not broken in any way. Safety items fall under that category. Ultimately, even though my husband and I don’t see eye to eye about buying used clothes, there are definitely other used items neither one of us would buy. So, what about you? Are you a huge fan of buying used or do you prefer new items all the way? |
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How to Be a Financial Olympian Posted: 09 Feb 2014 11:01 PM PST
I often think of how much time and dedication it took to get an Olympic athlete to the Games to compete. Thousands of hours spent practicing, tens of thousands of dollars spent paying for a trainer and equipment, thousands of times saying no to something fun to do so that they may instead practice. For the elite few who take home a medal, all the sacrifice pays off. There may be lucrative endorsement deals, coaching and performance gigs, perhaps media and consulting gigs. Their futures will be financially set. An Olympians journey can be a metaphor for our own financial lives. Instead of millions in endorsement deals, if we make the right moves and sacrifice as necessary, we can have comfortable retirements with enough money to see us through our last twenty or thirty years. But we have to be willing to make the sacrifices of an Olympian. 1. Stay out of debt.As much as possible, staying out of debt from the beginning is essential. If you go into credit card debt in your early twenties, getting out can be incredibly difficult. You may set a pattern for yourself of always being in debt. You might accept the adage that debt is just the American way. You might think debt is essential to live in our economic environment. When you reach retirement age, you’ll likely do so still saddled with a mortgage with very little retirement savings. A financial Olympian isn’t afraid to sacrifice to stay out of debt. He may live in a small, sparsely furnished apartment. He may drive a beater car. He might go to the local college to avoid taking out student loans. He knows the sacrifice is necessary to become a financial Olympian. 2. Save early and often.Most Americans save very little for their retirement until they reach their 40s. Then, they start to panic and begin saving, but by this time in their lives, they’ve missed out on the benefits of compounding interest. A financial Olympian starts saving for retirement while in college or as soon as she completes college. She saves as much as possible, even if it means not spending Friday night at the bar with her friends or not taking a trip backpacking through Europe. She knows the power of compounding interest. 3. Recognize that financial sacrifice is necessary.The majority of us can’t have and do everything we want. While we may want a large house, two nice cars, and the ability to take a trip to Disney every year all while wearing stylish designer clothes and enjoying meals out several times a week, it’s not financially possible to do it all. Yet we try, and we end up getting into credit card debt or not saving anything for retirement. A financial Olympian knows that only one or two of these things is affordable. He may have a nice house, but he knows he isn’t able to take expensive vacations every year. He may drive a nice car, but he wears unbranded, affordable clothes. Do you have what it takes to be a financial Olympian? |
