Is money a little tight? Hoping a raise will come through soon? I hate to burst your bubble, but even if it is exceptional, a raise probably won’t do much good.
By the time a raise is adjusted for taxes, you’ll be lucky to see half of it in your bank account. And if that’s not bad enough, it’s a common problem that when you earn more, you automatically spend more. Reckless spending can consume a lot of cash, fast.
The degree of reckless spending seems to rise in direct proportion to income. It won’t be long until you are back in your old financial rut just barely getting by. Sadly, until you get serious about your spending, more money will never be enough.
The secret to getting cash inflow to exceed outflow is to reduce the outflow. That is a solution available to almost everyone.
https://www.everydaycheapskate.com/wp-content/uploads/20046438_s-1.jpg564848Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-11-09 00:53:012019-11-08 22:25:115 Ways to Give Yourself a Raise
Confused and stressed out about how to manage your money so you don’t run out before payday? Put these nine easy moves into action and you’ll be well on your way to simplify your spending.
I know what you’re thinking—simplify and spending in the same sentence? Ha! Like that’s even possible when we have credit cards, debit cards, bank accounts, bills, bill-pay, auto-pay, fees, penalties, interest rates, and fees to keep track of. How can we possibly make managing money simple?
By having a plan. By choosing to become accountable and then using every tactic possible to streamline and de-stress your money.
https://www.everydaycheapskate.com/wp-content/uploads/19423275_s.jpg576831Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-10-29 05:51:232019-10-29 15:32:379 Easy Moves That Will Simplify Your Spending
You think shopping is what you do when you buy things. That’s true, but it’s more than that. Shopping is a competition with you on one side and retailers on the other. And whenever the store gets more of your money than you planned to leave behind, they’ve executed a brilliant shopping trick. They win.
What follow are the tricks that retailers don’t want you to know. Learn them well and you’ll you’ll turn the tables on them. You’ll start winning at the shopping game!
TRICK: Buy only the loss-leaders and get out of there
A loss leader is something retailers sell so cheap, they’re losing money on the deal. Buy-one-get-one-free (BOGO) is a great example. It’s like bait to get you into the store because they know if they can do that, you’ll buy other stuff at full price. The trick is to take just enough cash so you can buy up all of the loss leaders you will use and then get out of there.
Why stores hate this trick. Retailers hold sales to increase their cash flow—not to save you money. They do anything they can to get you through the door. Statistics tell them that once you’re in the door, there is a high statistical likelihood that you will pick up enough full-priced items to more than make up for that loss leader. It’s a risk on their part and when you don’t follow their plan, they lose. You win.
There’s nothing fun about credit card debt. An outstanding balance of $5,000 that is subject to 19.99% interest means you’re paying about $1,000 a year just in interest. Imagine if that $1,000 could go directly to repaying the balance instead. You could pay it off in record time instead of stringing it out for many years.
If you’re carrying credit card debt, transferring that balance to a new credit card with a 0% introductory rate could be the way out of your heavy debt situation. Just beware: There are pitfalls in the balance transfer game that if not avoided could end up making your situation worse, not better.
To play the balance transfer game well requires financial maturity and personal discipline. Are you up to it? Should you wish to play, you’ll need to adopt this strategy to come out a winner:
Find a balance transfer credit card application. You want one that offers at least 15 months of 0% interest, has no annual fee, and a small if any, balance transfer fee. Search at IndexCreditCards.com. Read the application very carefully. Know exactly what’s in the terms and conditions.
https://www.everydaycheapskate.com/wp-content/uploads/20235831_l.jpg502545Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-10-04 23:35:362019-10-07 08:39:42How to Win the Credit Card Balance Transfer Game
Buying a home is likely the largest purchase you will ever make. This is not the time to make mistakes that could easily plunge you into a financial situation you cannot afford.
During my 18-year career as a real estate broker, I learned a lot of things but none as valuable as what not to do! I didn’t learn this in a seminar or while studying to pass the licensing exam. I witnessed real-life situations where buyers did really dumb things related to buying real estate—buyers who then went on to regret the decisions they’d made.
Avoid these five home-buying mistakes and you will avoid getting in over your heads with a house you cannot afford—and save yourself many thousands of dollars and heartaches in the process.
Mistake: Allowing a lender to determine how much you can afford
When you meet with a lender to get pre-approved for a mortgage, that lender is going to tell you how much house you can afford and how much money the company is willing to lend to you. Understand this: He or she is concerned about only two things: 1) Your ability to repay the mortgage and 2) the size of his commission.
This lender wants to steer you into the biggest mortgage possible. Ignore that number. It is not based on what you can afford because the lender has no idea what you can afford.
You need to set your own housing budget before you ever sit down with a lender or other real estate professional, which is based on your specific financial situation and lifestyle. And that housing budget should be realistic enough so that you can afford to make progress on all your other important financial goals like maintaining a healthy emergency fund, getting debt-free, and funding retirement accounts.Read more
https://www.everydaycheapskate.com/wp-content/uploads/74151966_s.jpg565848Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-09-12 06:20:272019-10-07 14:54:325 Home Buying Mistakes That Will Make You House Poor
For many years I wouldn’t have anything to do with a budget because I couldn’t stand the idea of anyone—or anything—telling me how to spend my money. And where did that get me? Into one big financial mess.
Every month, when I ran out of money, I would turn to MasterCard and Visa for a bailout. To me, any available credit was the same as income. It was my money to do with as I found necessary. Really bad idea.
What I learned from going through that experience and finding my way back to solvency is that, as much as we may loathe it, a budget is the ticket to financial happiness―not the straitjacket I feared it would be. I’ve come to prefer calling this a “spending plan” rather than a budget, but honestly, the terms are interchangeable. It’s just a way to pre-spend your income on paper first.
https://www.everydaycheapskate.com/wp-content/uploads/27241266_s.jpg565848Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-09-10 00:40:072019-10-09 08:15:09How to Live on a Budget and Love It
The wedding was complicated and expensive. But it’s over and you are ready to settle back and enjoy your new life together. I’m here to warn you about some common money myths that newlyweds have been known to bring with them into their marriages.
But wait. You’re not a newlywed? No one is immune to believing these myths. No matter your marital status—learn these lies about money so you can stop believing them. It will improve your life.
Myth: Double the income, half the expenses
This is what I call newlywed fuzzy math: Merging your lives and incomes into one household is the equivalent of getting a raise. It goes like this:
When we live together, we split the rent or mortgage payment; we share the utilities and household expenses. We’ll have twice as much money.
Don’t believe that, not for a second. While there may be some truth in sharing expenses, the outcome is not what you think. Been there, done that, trust me on that. More likely, more money will immediately lead to more spending. Without a solid plan, that will quickly lead to more debt because you’ll use that money for a down payment on stuff you really want.
https://www.everydaycheapskate.com/wp-content/uploads/091317image.jpg376565Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-08-30 00:01:522019-09-04 09:09:12Common Money Myths and How to Stop Believing Them
From time to time, this kind of question pops up in my inbox: How can I get started investing in stocks and mutual funds that are risk-free and have guaranteed high rates of return?
Of course that makes me laugh hysterically, not only because there is no such thing as a risk-free investment let alone one with a guaranteed high rate of return, but more because someone thinks I am an investment advisor. I am simply not qualified nor licensed to advise anyone on traditional Wall Street, stock market type of investing. But that’s not to say I don’t have some advice for them.
My investment advice is unconventional, perhaps, but it makes so much sense, I think you’re going to be amazed. When looking at investments, many people disregard one of the best and easiest places to invest their money—their own debt.
First, let’s agree that the reason anyone wants to invest is to increase their net worth by making their money grow. There are two ways to do that. 1) You can increase your assets or 2) decrease your liabilities.
Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.
Essential Website Cookies
These cookies are strictly necessary to provide you with services available through our website and to use some of its features.
Because these cookies are strictly necessary to deliver the website, you cannot refuse them without impacting how our site functions. You can block or delete them by changing your browser settings and force blocking all cookies on this website.
Sprinkled throughout this site you will see references to my use of affiliate links or referral links. These references are called disclosures and are a requirement put forth by the Federal Trade Commission. They are there to inform you I have a relationship with a particular product or service and if you choose to purchase that product or service via my affiliate link, I will get a small commission. Of course, this is no extra cost to you, but it does help to pay the bills so I can keep bringing you great tips! I truly appreciate your support in this way. Thank you.
Google Analytics Cookies
These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.
If you do not want that we track your visist to our site you can disable tracking in your browser here:
Other external services
We also use different external services like Google Webfonts, Google Maps and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.
Google Webfont Settings:
Google Map Settings:
Vimeo and Youtube video embeds: