Tornado season is here.  The nation watched and mourned with the residents of Moore, Oklahoma as an F-5 tornado ripped through the town and took over 20 lives, including several elementary school students.

If you live in an area prone to tornadoes, make sure to take the time to review with your family where you will take shelter.  Also have supplies available like a battery operated radio and water.  Let’s hope this isn’t an active tornado season.

Around the web, I have been reading some excellent personal finance articles.  Here are some of my favorites:

1. Tie the Money Knot examines what to do in a sticky situation when you think your fiance may have overpaid for your engagement ring.
2. Sustainable Life Blog comes clean about some of the financial mistakes he’s made in the last year.  What are some of your worst financial mistakes?
3. Thinking of finding a new apartment?  Financial Samurai, a landlord for 10 years now, shares what makes the perfect tenant financially.
4. Kudos to Money Life and More for arguing that the typical American family of 4 does not NEED $58,000 just to get by.
5. Have you been denied credit?  That’s just one of several signs that you have too much debt according to Beating Broke.
6. The Family CEO shares how much it cost to pay for her daughter’s junior year of college.  It’s more reasonable than I would have thought.
7. Newlyweds on a Budget are plowing through their student loan debt! Way to go!
8. Looking to make some money with your blog?  My Multiple Incomes explains the strategies that have worked for him.
9. Do you have a back up plan if you’re self-employed?  Budgeting in the Fun Stuff shares hers.
10. Life and My Finances offers 10 ways to make money from home.  Great list!
11. Yes, I Am Cheap gives the lowdown on her various rental properties.  Great read, especially if you want to be a landlord.
12. Overwhelmed with the idea of creating a 6 month emergency fund?  Free from Broke offers some techniques to make it easier.
13. One Cent at a Time gives his strategies for doing his personal bookkeeping.
14. If you need more side hustle ideas, Retire by 40 offers several fun ones.

On a different note, Everything Finance was featured in several blog carnivals recently:

Yakezie Carnival hosted by Frugal Toad

Festival of Frugality #386 hosted by Dewey’s Tree House

Carnival of Money Pros hosted by Money Pros

Carnival of Financial Camaraderie #79 hosted by Making Sense of Cents

Lifestyle Carnival hosted by One Cent at a Time

Festival of Frugality #387 hosted by Money Life and More

Carnival of Money Pros hosted by Thirty Six Months

Finance Carnival for Young Adults hosted by Fat Guy, Skinny Wallet

Yakezie Carnival hosted by Money, Life and More

Finance Carnival for Young Adults hosted by Wild About Finance

Carnival of Money Pros hosted by My Personal Finance Journey

Carnival of Financial Independence #10 hosted by Reach Financial Independence

Festival of Frugality #389 hosted by The Festival of Frugality

Carnival of Money Pros hosted by Free at 33

Thanks to the hosts for including my posts!

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Since most of my friends are in their late 20′s and early 30′s, babies are a hot topic. It seems like many families are comfortable with deciding when they want children, but what most people struggle with is deciding just how much money they should save in order to comfortably have them. Is there really a good number that everyone should have before they start a family? Here are my thoughts below.

1. No, There’s Not A Good Number

People always say, “There’s never a good time to have a baby” since our lives are so busy and hectic. Similarly, I don’t think that there is a universal number of how much people should save before they have kids, since everyone’s situation is different. Instead, think about your monthly budget, how much you normally spend on expenses, and do research to calculate the cost of what having a baby will add to that number. Consider the cost of diapers, formula, clothes, and other odds and ends like bottles that come with having a baby. Think about housing too. Will you have to upgrade to a bigger place or do you already have a spare room? Once you think about everything that will change when you add to your family, you can really start to crunch some numbers.

2. Pad Your Emergency Fund

While there’s no universal number on the amount you should save before having children, what is important is that you have an emergency fund you can rely on if you need it. Experts vary in their opinions of how much people should save in an emergency fund, from $1,000 to 6 months of your monthly income. This will be different for every family, but having 3-6 months of expenses saved up would definitely offer great peace of mind when having children. This will protect your family in the instance of a layoff or another unexpected change.

3. Health Expenses

One important aspect of parenthood to consider is the health cost. You should consult your insurance plan to find out how much you will have to pay out of pocket for doctor’s visits and hospital stays. Start researching the expense for adding your child to your insurance plan and how much co-pays will be each time you go to the pediatrician. Armed with this knowledge, you will be able to successfully figure out how much you need to save for a few months of health coverage for your child.

So, while there isn’t a magic number that parents should reach before deciding to add to their family, being informed about your health plans, your budget, and future costs is important when making your decision. If you haven’t been on a budget, now is a great time to start. Track your spending and see where you can cut costs to make room for your baby’s expenses. While it will take some planning and foresight, the reward that comes with being a first time parent is certainly worth it.

How much did you save before you decided to have kids? How did you come up with that number?

Photo Credit: FreeDigitalPhotos.net

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I think most parents can agree that one of their least favorite phrases is, “I’m bored”. It’s hard not to lose it when your little one tells you this more than three times in the day, and all you can see is a mountain of toys and books that are anything but boring. In the sake of keeping your sanity and keeping your kids, here are some free and very inexpensive activities to try out this summer.

Free Classes: There are so many free craft classes out there. All you have to do is sign up and show up. Yes, this means that your children will come home with even more stuff, but they will also have a blast for 30 minutes. The top free kid programs I have seen are offered through Lowes, Home Depot, and  Michael’s.

Look for Vacation Bible Schools: Many churches put on a Vacation Bible School that last for about a week. They usually last three to four hours a day, and kids have a blast at them. Obviously, this is a religious activity, so take that into consideration before sending your children if you are not religious. Some churches do charge a small fee, but it is usually nominal to all the activities your child does. I know that one of the local churches in my area has a huge skit prepared, games, water games, crafts, snack, and Bible activities.

Do Movie Night Swaps: This idea takes a little bit of planning, but it can be a huge success if you get everyone to participate. Get two to four groups of parents together and agree that each of you will take a turn hosting a dinner/movie night. Keep it simple with an easy and inexpensive meal (such as build your own tacos or top your own mini pizzas) and pop some popcorn. Redbox always has affordable movie rentals. If the kids get too crazy, you can always take the fun outdoors with a game of tag or relay races. This is perfect for the kids because they get to have fun together, and it is also perfect for the parents because it gives each set of parents a few hours free each night.

Look for Inexpensive Movie Screenings: A lot of the regional theaters have special movies for kids during the summer months. For example, Regal Theaters and Cinemark Theaters will be showing a different family movie each week for .50-$1 per person. I am pretty sure you will make that money back by not having your air conditioning on for two hours. Of course, resist your kids’ urge to splurge at the candy counter by filling them up beforehand.

Summer is the time for kids to make memories. Check out your local community’s website for even more ideas and classes. Some parents miss out on fun opportunities because they don’t think their kids will like it. However, you may be surprised at what your child finds entertaining. Look for free classes, free plays, and free concerts in your town.

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It’s not any secret that my husband and I are vying to be homeowners. Home ownership has always been a goal of ours, but it has often taken the back burner to more pressing things, like graduate school, job training requirements, and paying down the last $14,000 of our student loan debt.

We’ve been able to get through most of these financial hurdles by downsizing and also building up a side hustle income, such as freelancing, that has allowed us to pay down debt and save.

But now, we’ve added another financial priority: a house down payment. For the longest time, the idea of home ownership remained just a dream that we used to talk about with the phrases “Some day…” and “If only…” This year, we finally got the crazy idea to stop waiting until we paid off our debt and just start saving now.

We didn’t really have a plan in place, and our savings strategy for a house down payment had a “Let’s see what we can do” approach.

In March, when we decided to truly make a house down payment a priority, we had about $3,000 in our savings account. On June 1^st, we will have $10,000 in our savings.

That’s an increase of $7,000 in a period of less than four months. While it’s nowhere near what we need for a substantial down payment, it at least helps keep us motivated to continue to save and increase our fund.

So, how did we make it happen? Essentially, we used the same strategy for paying down debt as we do for saving for a house down payment. Here are the how-to’s on saving for a house down payment:

Make it a priority. With automatic deposit, $500 from our checks is automatically entered into our house down payment fund every paycheck. This contributes a savings of $1000 a month automatically. Having the money automatically taken from our checks and deposited into a separate savings account helps us forget about the money and not rely on it. We didn’t just go from 0 to $1000 in one month. We started off with smaller savings amounts first, and increased it little by little until we got to the point where we felt we could live without an extra $1,000 a month.

Work more.  The $1,000 every month is the minimum we save. In order to save more, we have to make more. My side hustle income is already earmarked for debt repayment (we still have $14,000 in student loans), graduate school payments and travel (hey, you have to live a little!), so we don’t touch that money. In order to make more money, we have to work more at our day to day jobs. We decided that any extra income we earned would also go directly into our house down payment fund. We know the amount of money we need to live off comfortably, so if we earn more money through overtime, we don’t get to spend that on whatever we want. Instead, we contribute it to our house down payment fund.

Contribute everything extra to the fund. Every penny that has been earned in addition to our day to day jobs has gone into the down payment fund. We received a tax refund of $2,000 that was deposited into our house down payment fund. Rebate checks, mileage reimbursements, etc., has all gone into the fund.

We are so excited that we have made such a significant amount of progress in such a short period of time and it motivates us to keep on saving.

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There are hundreds of personal finance books out there.  There are so many to choose from that it can be overwhelming.  However, if you’re looking for a straightforward guide who speaks in plain English and wants to help you become a financial success, look no further than Barbara Friedberg.

Barbara Friedberg is a portfolio manager and finance instructor.  She is also the author of the blog, Barbara Friedberg Personal Finance.  We can now add to her credentials, author of How to Get Rich:  Wealth Building for the Financially Illiterate.

More and more Americans lack a basic understanding of how personal finance works.  Their parents may not teach them how to make smart money decisions, and they often aren’t learning in school.  As a result, they rack up credit card and student loan debt and find themselves facing financial hardship in their twenties.

It shouldn’t be this way.

Through her book, Friedberg is trying to change the culture.  Her book is a perfect gift for the recent high school or college graduate or for a newly married couple.

If people can start on the right path in their twenties, they can be wealthy as they age.

Are you in your 30s or 40s and are just now cleaning up your finances?  Don’t despair.  You, too, can be wealthy if you follow Friedberg’s steps.

Book Highlights

Friedberg’s first chapter is about debt.  Let’s face it, if you have a lot of debt, you’re going to have trouble becoming wealthy.  Friedberg seeks to help you get out of debt and then stay out.

Her next chapter is about saving.  Saving is difficult for many people.  If the money is available, they want to spend.  Friedberg’s advice is to make your savings automatic and take the thought out of it.  Go to your payroll department, fill out a form, and have some of your pay automatically funneled into your savings and retirement accounts.  After awhile, you won’t even notice that the money is gone, but your savings will be increasing.

After that, Friedberg focuses on how to buy things at the lowest price possible.  Those of you who like the finer things in life will be glad to know that she doesn’t ask you to give those things up.  If you want a BMW, yes, you can have one IF you can afford it and IF you can buy it at the lowest possible price, which means you won’t be buying new.  Friedberg gives strategies for saving on everything from luxury cars to clothes to housing and everything in between.

Friedberg’s book contains basic financial advice that anyone can understand.  However, she presents it in a way that connects with readers and truly makes them think about their financial situation and how detrimental some aspects of it (like carrying debt endlessly) can be to their future.

If you’re the parent of a child whose not good with money or if you want a fresh financial start yourself, I highly recommend this book.  It’s economically priced, and at approximately 100 pages, it’s a quick read, giving you more time to implement her strategies.

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Last week, I decided to have a big splurge. I bought an international plane ticket last minute to go home and visit my family.

I had some time off of work, it was Mother’s Day, and it was also a few days before my birthday.

While I hadn’t planned on seeing my family until the holiday season, I really missed them, and I wanted to go.

Plane tickets to my hometown are pretty expensive, and there are always other costs involved in seeing my family, including meals in the airports, gas, etc. Yet, sometimes, even someone as frugal as myself just can’t help but swipe the credit card. Some things are more important than saving money.

Yet, this mindset can also lead to financial problems. If we weighed every situation with the mindset that we’ve “earned” a splurge, it can lead to credit card debt and set us back from achieving our goals.

So, how do you know when it’s a good time to splurge? Here’s how I decide:

1. When Did You Splurge Last?

I consider a “splurge” anything outside my normal budget. So, if it’s not meals, rent, utilities, or the budgeted money for small “extras,” it’s definitely a splurge. Other people might have different definitions. When I am considering splurging on something, I always ask myself, “When’s the last time you splurged?” For me, I looked back and realized I hadn’t even bought a new piece of clothing in 10 months. We live very frugally, and I knew that it had been a long time since I allowed myself to have a little something extra.

2. How Far Will It Set You Back?

Whenever you make a large purchase of any kind, it’s good to know how far it will set you back. Is it just a small portion of your savings or will you have to empty your entire emergency fund? In my case, although the plane ticket was expensive, I could afford it. I had the money in my savings account, and I had no plans to use it for anything else.

3. Does The Emotional Cost Outweigh the Financial Cost?

Sometimes, you have to weigh the emotional cost of purchases. For example, parents might spend extra money to travel to see their child graduate. Or, you might want to see a sick parent or grandparent before they pass away. These are the types of situations where you don’t want to regret not spending the money in the future. For me, although my mom would have completely understood if I didn’t fly to see her, I knew she would like seeing me for Mother’s Day. I knew it would really make her week, and I didn’t mind making the trip to see her happy.

As stated, asking myself these questions is just what works for me. Others might have different ways of deciding whether or not to splurge on something big. Either way, what’s important is that you think through your large purchases instead of mindlessly swiping your card. As long as you are thoughtful, weigh the risks, and can afford it, splurging is definitely okay every now and then.

Photo Credit: FreeDigitalPhotos.net

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Frugality gets a bad rap.  I’m guessing that it’s because being frugal is often confused with being a miser.  You know, those people who won’t spend money on anything.  Those people who drive 5 miles out of their way to get gas for 3 cents less per gallon.  Those people who take their dates to a restaurant during half price happy hour and will only let the date order appetizers.  You know the ones.

Then, there is also the misconception that frugality doesn’t matter.  Some bloggers are notoriously anti-frugality and argue that saving a little money here and there really doesn’t matter.  Instead, they’re proponents of growing your income so you don’t have to pinch pennies.

While growing your income is certainly an important component of becoming wealthy, frugality can be a nice complement to that.  Especially when you’re young and just beginning your career, frugality can help you get ahead when you’re still working on growing your income.

But don’t be put off by the idea of frugality.  You can implement frugal strategies into your life easily.

1.  Always use promo codes.

More and more people are buying online.  When you’re checking out, you’ll usually see a small box asking if you have a promo code.

Don’t have a promo code?  No problem.  Just open a new window and do a quick search on the Internet.  You’ll find a code at least 2 out of 3 times.

I bought checks online last week, and my total came to $21.36.  I searched for a promo code and entered it.  The promo code waived my shipping cost and gave me a hefty discount.  My final total was $6.32.  I saved $15.04 for a two minute search on the Internet.

Is $15 going to make me wealthy?  No, but by implementing this strategy over and over again, I’m consistently keeping more of my money in my pocket.

2.  Buy used.

You can have as many things as the Jones’, but if you’re buying used, you’re saving serious money.

In her new book, Wealth Building for the Financially Illiterate, Barbara Friedberg says to go ahead and give into your desire to buy a luxury car if you want one, but always buy used.  This same principle applies to other purchases that you make like clothes and furniture.

Our kids are so rough on our furniture that we’ve been buying used.  However, the quality difference between used and new furniture is often negligible, but the price difference is substantial.  We’ll likely continue to buy used furniture even after our kids grow up.

3.  Choose hobbies that save or make you money.

Hobbies can cost a lot, but if you choose ones that save or make money, you not only get to relax but help yourself get ahead.

For instance, I learned to sew when I was younger.  I’m not accomplished enough to sew complicated outfits, but I can turn my old t-shirts into dresses for my daughters, and I recently took my son’s too short uniform pants and turned them into uniform shorts.  Just that simple sewing project saved me the $24.50 it would have cost to buy him the uniform shorts new.

Writing and photography are two other hobbies (among many) that can allow you to make money on the side for your skills.

If you’re turned off by frugality because you don’t want to be seen as a tightwad, try some of these painless strategies to save money without compromising the quality of your life.

What painless frugal strategies do you implement?

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The temptation to spend is all around us. In fact, I would argue that it’s almost inevitable that we want to spend something at least once every day and that it takes self control and forethought to have a “no spend” day.

So, why do we feel the need to spend every day, and what can we do to try to avoid this temptation altogether?

Well, below are 5 ideas that can help anyone, regardless of your age and financial status.

Turn Off The TV

When we watch TV, we are bombarded with mass marketing and images of celebrities. Even if we skip commercials, just catching an interview on the news or a 30 minute reality TV show can expose us to expensive clothes, brands, and overall lifestyles that we might want. TV can also give us unrealistic expectations of what our lives should look like, which can lead to excessive spending and credit card debt.

Cancel Deal E-mails

Every day, I get tons of e-mails from stores who are advertising sales and “last minute” specials that give their customers a sense of urgency when it comes to purchasing their inventory. This definitely makes us want to click through and order amazing products. So, one great way to avoid the temptation is to unsubscribe from these e-mails or unsubscribe from all of them except the 1 or 2 brands that you really love.

Forget Walks Around The Mall

My husband and I used to go on little walks around the mall for fun. It was just something we did when we were bored, but somehow we always came home with a purchase. We’d see something on sale or spot a mannequin dressed up in an outfit we loved, and sure enough, we’d purchase it. When we started varying our activities and taking a walk around the neighborhood instead, we kept more money in our wallets.

Be Wary of Salesmen

When you are shopping for a big purchase, like furniture for example, it can be easy to fall prey to a pushy salesman. They are often talented at their jobs and work on commission, so your purchases contribute directly towards their paycheck. Of course, not all salesmen are pushy. In fact, many of them can help you find the exact product you’re looking for. Just be wary of the ones who don’t seem to have your best interest in mind and who are pushing you to buy even though you’re not quite ready.

Challenge Yourself

Lastly, another great way to avoid the temptation to spend is to get an accountability partner. Whether it’s your spouse or your friend, answering to someone about your spending habits can dramatically reduce them. Keep a record of what you spend and agree on a time to discuss them. This might not reduce the temptation to spend completely, but it can help you get stronger at conquering it.

What are some other ways that people can avoid the temptation to spend? Please share your thoughts in the comment section below.

Photo Credit: FreeDigitalPhotos.net

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When in the process of paying off debt, you’ll find that you’ll do pretty much anything to try and make more money to pay off that debt a lot faster. Let’s face it—being poor sucks, and watching your hard-earned money go toward debt repayments is a total downer. For this reason, garage sales are often touted as a great way to give your debt repayment morale a boost when you need it most.

If the idea of throwing a garage sale is just too daunting, break it up in these simple to-do chunks to make the process easier.

Set the Date First

The very first trick to a garage sale success is to set a date. Make it permanent by marking it on your calendar, telling your friends and family and setting aside that weekend to have a successful garage sale. Often, the biggest hindrance in a successful garage sale is just getting your butt off the couch to actually plan the thing. By setting the date first, you are committing to it.

Designate a “Garage Sale” Space

After you set the date, designate an area of your house, whether the garage, an extra bedroom, the living room, or heck even your own bedroom (it will motivate you to get it done faster!), set some space to place all your garage sale items. As you live your day-to-day life, ask yourself if you really need that item. There are a lot of items that we deemed useful at one time, but realize we haven’t used it in years. Waffle maker? Purses? Office supplies? Entertainment system? Trampoline?

You’ll be surprised by what ends up in the pile and what you can really live without. Goodbye Thighmaster!

Publicize

Don’t expect a dinky little sign written in marker to be your sole source of advertising. These days a lot of free advertising can be done. Always post on Craigslist and your social media channels Here’s a great post on how to create a Craigslist ad and sell your stuff. Ask your friends to help share your event. Check your local newspaper, which sometimes offer free announcements. And make several signs to help publicize the event the day of. But don’t forget to take them down as soon as your event is done.

Collaborate with Neighbors

Large neighborhood-wide garage sales are often big attractions for bargain hunters. If you can, try and collaborate your garage sale during a neighborhood-wide sale, or heck, start your own by asking neighbors if they’d like to sell on the same day as you. It’s not a competition, and bargain hunters love making a one-stop shop for all their garage-sale finds.

Sell items for friends and family

Often times, friends and family may have a couple of items that they’ve been wanting to get rid of for a while. Offer to sell these items for your friends and family if they were planning on donating it anyway. This will help bring in cash for you and help pay down that debt faster!

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Australians have become better savers, with the household savings rate recently climbing to around 10 per cent of disposable income. Yet with the 2012 RaboDirect National Savings Barometer finding nearly half of all working Australians have only a month’s worth of savings in the bank, there is still plenty of room for improvement.

While doing a budget, putting money aside regularly and saving for a rainy day are all sound policies, there are many innovative ways to save money.

Change spending habits

Impulse buying is a killer, with a recent survey for RaboDirect finding that nearly a third of respondents had spent more than $500 on such a purchase during the past six months, with the main items being clothing and shoes.

While shopping only with cash can help curb rash purchases, those addicted to their credit cards still have ways to save. According to Ratecity.com.au, it is possible to save hundreds of dollars by switching to a zero or low-rate balance transfer card instead of trying to repay a higher rate credit card.

Help the kids

Make your kids future millionaires by investing as little as a dollar a day. According to Ashley Ormond, by making regular contributions, investing in growth assets, reinvesting all investment earnings and not touching the money, it is possible to save $1 million over a 50-year period, although you will need discipline.

Save on power

Rapid increases in electricity prices have made a dent in household finances, but it is still possible to cut power bills. Comparison sites including Make it Cheaper, GoSwitch and Switchwise offer the opportunity to compare prices and change providers.

Power saving tips include turning down the thermostat on the hot water system, switching to natural gas or solar hot water, installing insulation and washing your clothes in cold water.

First home buyers

For those saving for a first home (or parents helping out the kids) the little-known first home saver account offers a government-guaranteed 17 per cent rate of interest. Save $6,000 and the government will tip in another $1,020, one of the best tax breaks around for those aged under 60 years.

And when do you get a mortgage, take advantage of mortgage offset accounts to reduce the loan principal more quickly.

Creative savings tips

There are plenty of other creative ways to save:

• DIY – learn how to service your own car, grow your own plants and make your own gifts, such as baking a cake. Barter a service such as lawn mowing or baby sitting instead of buying a present.
• Carpool to the office, cycle, walk or use public transport.
• Offer to pay in cash for a discount; compare prices online.
• Put savings on autopilot by having wages automatically deducted to an account such as RaboDirect’s Notice Saver account, which restricts withdrawals.

It’s not always simple to change habits, but by becoming an innovative saver it can be possible to free up savings for useful investments.

This article is brought to you by RaboDirect. For more information on high interest savings accounts or term deposits visit RaboDirect

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My husband and I recently went on a vacation to New York and we learned some tips for saving money on our New York City vacation. While we’ve been saving for the trip for four months, technically you could say we started saving up for the trip two years ago. Here are our tips for saving money while on a trip in New York:

Book Free Flights

Living in California, the cross-country flight to New York was one of the largest expenses of our trip. New York was definitely on our list of must-do trips since my husband has never been. Two years ago, we each opened up Jet Blue American Express cards and had been saving our points for more than two years. We waited for a deal where each flight would cost 10,000 points each way. For the two of us, that means we needed 40,000 points. With the 10,000 sign up bonus, and putting all our groceries, automatic utility billing, and grad school costs on our cards, we were finally able to have enough saved up. Our flights cost us $10.

Scour hotels

The second most expensive part of a trip is the hotel. We seriously tried everything to score a cheap hotel deal: Travel Zoo, Groupon Getaways, Priceline…nothing was coming in under $250 a night—way over our budget. The 20% tax on New York City hotel rooms also wasn’t helping much. We both weren’t ready to go the hostel route though. The NewYork50 was a great starting point for finding a cheap hotel in New York City. After spending hours reading reviews, I settled on the Larchmont Hotel. At first, I was hesitant since it was in the West Village and not in the heart of the tourist attractions like Times Square, Central Park, Broadway, etc, but it actually turned out being wonderful. The location was spot on, and since I wasn’t expecting much, we were pleasantly surprised. We ended up being able to book a Queen Room with a direct view of the new World Trade Center for a total cost of $857 for five nights—a steal compared to everywhere else I looked.

Depend on Street Vendors for Food

The hotel we stayed at offered a small continental breakfast (ie pastries and coffee), which was enough to tie us over until lunch. Every day we tried a different street vendor, which all offered us a buffet of fantastic food. Gyros, Halal food, hot dogs, burgers, bagels…we always enjoyed a hearty lunch that was seriously so good for about $5-7 a person. By scrimping on lunch, we felt fine splurging a bit on dinner.

Depend on the subway for Transportation

A subway ride one way costs $2.50. A seven-day unlimited pass costs $30 (plus a $1 activation fee for a new Metro card). Even though we were only there for five days, we purchased the seven-day pass and used it so much that we for sure would have spent $50 or more had we paid individually each time. We only took a cab ride once and it was because we had our luggage with us. You can even take the subway from the airport using AirTrain.

New York may be known as an expensive city but there are plenty of ways to save money if you watch your budget.

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The average age of first time home ownership in the United States in the last 10 years has varied from 30 to 32 years of age, depending on the economy (Economists Outlook).  My guess is that it might also depend on the area of the country people reside in.  Certainly buying a house in rural Iowa is much more affordable than buying a home in the suburbs of Chicago or New York City.

My husband and I are well above the average age for first time home ownership, but we’re finally starting to look seriously into the housing market in our area, a nice suburban area a quick drive away from downtown Chicago.

Housing Markets. . .It’s All About Location, Location, Location

What we’re finding is that the lowest priced homes we can find average $375,000.  These houses are either two bedrooms (which is a tad too small for us and our three kids) or houses that elderly people have owned for years and not updated since the 1960s or 1970s.  (One photo inside an older person’s home showed a yellow rotary phone still hanging on the kitchen wall.)

A move in ready home is well outside of our budget, ranging around $550,000 to $800,000.

That’s not to mention the property taxes, which even on a modest house are at least $10,000 a year, though most average $15,000 to $20,000 a year.

We’re overwhelmed just thinking about saving $75,000 for a 20% down payment on a home that will require a significant amount of work (and money).  I can’t imagine paying $1,000 a month just in taxes for 15 or 20 years.

The Income Often Does Not Make Up for the Cost of Living

Part of why we’re currently priced out of the market is because my husband has a post-doc position.  In another two years, he’ll hopefully have a tenure track position, and his income will increase substantially.

Will he earn a bit more because we live in a high cost of living area?  Sure.

But not enough to negate that high cost of living.  Even if he earns $20,000 more here than he would working in a small (cheaper) area of the country, the difference is almost eaten up every year just in property taxes.

That’s not taking into account the higher price in housing, gas, food, etc.

Are You Married to Your Location?

We’ve been in this area of the country for 13 years now, largely because that’s where my husband was in school getting his Master’s and Ph.D.  Now we’re here while he finishes his post-doc.  We are rooted here; it’s the only place our kids have gone to school.

But are we so rooted that we can’t move?  Are our ties here strong enough to make up for the fact that living here for the next 20 years will have serious repercussions on our finances and ability to save for retirement?

Sure, location is everything, but we’re considering not just changing location within the suburbs of Chicago, but changing location by getting out of the city and the high cost of living.  A three hour drive in any direction would put us in an area with much more affordable housing, where we could buy our dream home for less than $200,000 and pay property taxes of less than $5,000 every year.

Is it worth it?  I think so.

Have you made a dramatic move to have a more affordable lifestyle?

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Sometimes it seems that most money tips are just aimed at the pros, so below I’ve included several tips that will work for absolutely anyone. Enjoy!

Track What You Buy So You Don’t Overspend

It sounds hard, but really tracking what you spend doesn’t take much time or effort. All you need is a little notebook or a handy iPhone app that keeps you in check. I personally kick it old school and write down my expenses in my planner, but you have to do what works for you.

Use Credit Cards Just for the Points

Only use credit cards if they provide awesome points benefits, and pay them off in full every month. There are tons of websites that are devoted exclusively to flying, dining, and staying in hotels for free just using credit card points. It’s a great hobby to have since you can travel the world without spending too much of your hard earned cash.

Have a Devil On Your Shoulder

Have a little voice in your head (or a real life money accountability partner) asking you, “Do you need that?” or “Is that really necessary?” It might be annoying the first few times, but eventually having that accountability will be the key to getting and staying debt free.

Spam It, Baby

Pick 1-2 stores that you absolutely love and stay on their mailing list. Everything else needs to go to spam, especially if you aren’t good when it comes to sales or offers. We all know that when you get deals in your e-mail, it makes you want to buy, buy, buy, so eliminate the temptation.

Cancel the Cable

I never thought I’d have a house without TV, but we’ve lived without one for almost 2 years now, and it’s been just fine. It takes a little adjustment at first, but remember you can always watch shows on your computer.

Complete DIY Projects

Completing simple projects like refinishing furniture, painting your own rooms, sewing the hems of your pants, and gardening are all great DIY projects that can save you tons of money in labor costs.

Air Dry Your Clothes

If you live in the city, you can get a hanging rack, and if you live in the suburbs, you can get a hanging line. Not only is hanging up clothes is a good arm work out, they actually smell really fresh and feel cozy when you take them off the line. My tip is to always use fabric softener so they don’t get crunchy.

Say No To Your Friends

Some of your friends might make more money than you, and it can be tempting to want to spend the same amount as them or purchase a round of drinks. However, you have to make the decisions that are best for you, and remember that good, true friends won’t judge you on what you can spend.

Don’t Allow Yourself To Feel Guilty

You don’t have to donate to every cause. You’re not a jerk for saying no. You also don’t have to fly home for every holiday if you can’t afford it. Learn how to keep your priorities straight, apologize when necessary, and use what you would have spent on them to reach goals and get out of debt.

Do you have any other savvy money tips that would work for anyone? If so, please share them in the comment section below!

Photo Credit: FreeDigitalPhotos.net

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Financial crisis do happen, and one must always be prepared for them. However, there are situations when one has to find cash immediately, and there are almost no options left.

These types of loans work by having the title of your item, usually a car, as a collateral. Processing would be fast. However, one must be aware of certain risks he may have when having it. The payment period is much shorter and interests higher compared to other. The reason for this is that the lenders are considering the significant risks associated with the fast processing. Loanstar is one of the well known services that give out these Title Loans. You can check out how Loanstar title loans work.

One may have his amount in the form of cash or check in as short as fifteen minutes. That is, if he has the necessary documents ready.

The value would depend on the car and the lending firm. They may or may not check your background to ensure that you have a significant source of income for you to pay the loaned amount.

Values assigned to each type of car have standards that offer uniformity throughout all firms. They follow the Kelley Blue Book for that. Most of them would offer fifty percent of the sales value of your car. It would all depend on your arrangement with the company.

Interest rates may be as low as thirty six percent but could go higher, even as much as one hundred percent. The most common form of payment is for the borrower to pay interest rates every payment period then pay the loaned amount after it. There are instances where one may not be able to pay the loan due to some financial difficulties. However, there is still a way to that. The balance may be rolled then a new loan would be taken. This, however, is regulated as to how many times it could be done. Each state provides different regulations for that to assure the debtor would not be perpetually hooked to a loan.

If he could not pay for all his credits, the collateral would then have to be taken. It will be resold so that it would offset the payment. This is, however, not the best option for the creditors as this would take significant time for them, and they would have to pay legal fees and others connected to repossessing and auctioning of the item. That would depreciate the amount they are going to have. At the same time, the value of the car itself is depreciating and most states give the owner a thirty day allowance.

One could not just get this loan without a co signer. Here, someone would be taking second responsibility for your payments. They can be friends, relatives, or family members. However, make sure that you can pay before asking them as it is their credit and money at risk.

One must be aware of the risks associated with this type of loan. Actually, this is applicable to all types of loan. There are other types of lending method available but this type offers the best solution for immediate cash needs.

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Getting back in shape after baby is a hard task to do. Not only do you have the extra weight to deal with, but you also have exhaustion and lack of motivation. Who wants to spend their free time working out when you have been taking care of a baby all day?

I am ten months postpartum and have just now been getting into a regular workout routine. It has been hard. There are so many workouts on the market right now, but I have found them not to be very mom friendly. If you are a mom that can dedicate yourself to P90X, good for you! For the rest of us, here are mommy-friendly workouts that won’t break your budget.

The Baby Wearing Workout: I wish I had found this website sooner. As a new mom, I wore my little one constantly! You definitely burn a lot of calories while wearing your baby and bouncing them around, but this workout helps you burn even more calories and tone up. The creator’s testimony is just inspiring and amazing. It is so nice to see a real mom lose weight and lead a workout then a lady who has been blessed with extra fit genes.

Cost Factor: Only $9.95 to download it on your computer. There are sample clips on the site.

Time Factor: 30 minutes and time spent with your baby

T-Tapp Basic: I first became interested in the T-Tapp system when another mom blogger said she lost all of her weight from it. The workout looked so easy, but man, does it burn! The moves are simple and safe for any new mom to do. I loved this video, but it can be hard to focus on the right form all of the time.

Cost Factor: A little more costlier at $39.95, but there are videos you can try before you buy.

Time Factor: 15-20 minutes

Fit 2 Be Studios: Many fitness programs do not realize the dangers of sit-ups and other abdominal exercised for new moms. New moms are usually suffering from a separation in their transverse abdominal muscles. Doing more crunches just makes the separation worse and caused the stomach to bulge out. This fitness website was started by a mom who has suffered with abdominal separation. She has created several tummy safe workouts. All of the workouts are also done in modest clothing; one video she even does in her pajamas! Don’t you just hate working out with that fitness model? With Fit 2 Be Studios, you workout with a healthy and fit mom.

Cost Factor: $9.99/mo or $99/year. She offers a free workout when you sign up for her newsletter.

Time Factor: Tons of videos to choose from ranging from 10-30 minutes.

Working out as a new mom is hard to do. These three programs are safe and effective for losing the baby weight. Of course, always be sure to consult your primary physician before starting a workout and diet program.

 Disclosure: The author received free samples of the BabyWearing Workout and T-Tapp in exchange for an unbiased review. All opinions are the authors.

Image is the property of Baby Wearing Workout.

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In an effort to determine where the basic American understanding of life insurance principles resided, the Life and Health Insurance Foundation for Education (LIFE) employed KRC Research to conduct a survey in 2005 asking, “Out of the following fictional characters, which are most in need of life insurance: Batman, Spiderman, Fred Flinstone, Harry Potter, or Marge Simpson?”

The results—polled from 1,014 adult Americans—dictated that their understanding was minimal, at best. President of LIFE, David F. Woods, had this to say about the study:

“It’s clear that confusion exists about the basic reason people need a life insurance quote. If your loved ones stand to suffer financially upon your death, you need life insurance. Whether you’re a superhero, or a super-parent, really misses the point, because no matter how dangerous your job is, you never know what tomorrow might bring. If someone depends on you, it is imperative to make arrangements now that ensure they will be taken care of it you were no longer there.”

SURVEY RESULTS

Spiderman

• 28% of Adults Polled Chose Spiderman
• Profile: He’s really just… Peter Parker. Young, unmarried, no children, freelance photographer (no one knows he’s Spiderman!), with an elderly aunt.
• Should Spiderman Have Insurance? Technically, yes. Despite the fact that he is unmarried, with no children, he does still have an aunt that he might want to take care of should something happen to him. It is for that reason that he should acquire life insurance, though, and not because he’s scaling skyscrapers!

Batman

• 18% of Adults Polled Chose Batman
• Profile: Billionaire playboy Bruce Wayne. Reasonably young, unmarried, no children… and for the most part, unemployed (aside from being a masked bat).
• Should Batman Have Insurance? Mr. Wayne is a wealthy bachelor with no one depending upon him financially and anyone with $6.5 billion dollars usually has other investment opportunities more appropriate for them up their sleeve. Due to this, he isn’t an ideal candidate for a life insurance policy; however, he is an ideal candidate for some serious estate planning… estate taxes are no joke!

Fred Flinstone

• 16% of Adults Polled Chose Fred Flinstone
• Profile: Married, quarry worker, with a young child.
• Should Fred Have Life Insurance? Absolutely! Fred has a wife and a child to support should he get crushed by a rock working in the quarry, so he’s an ideal candidate.

Harry Potter

• 15% of Adults Polled Chose Harry Potter
• Profile: Teenaged kid, still in school, with no living relatives.
• Should Harry Potter Have Life Insurance? Not at all; it would be a premature decision at this point-in-time for Mr. Potter to acquire life insurance. He’s young, with no one to support, and it would more than likely just be a financial drain for now.

Marge Simpson

• 11% of Adults Polled Chose Marge Simpson
• Profile: Housewife, stay-at-home mother, with fantastic hair.
• Should Marge Simpson Have Life Insurance? While Marge’s family is not depending upon her financially, they are depending on her to keep a household together. If something should happen to her, Homer would have to spend copious amounts of money on daycare for Maggie, babysitters for Bart & Lisa, a maid, possibly a nanny, etc. Due to this, income would be lost in the event of her death, so life insurance is necessary.

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Have you looked around Pinterest?  Or, are you a Pinterest member who has to spend a few minutes (or more) every day browsing and pinning?  (It’s addictive, I tell you!)

I recently spoke to a friend who said she never went on Pinterest because she thought it was just a place for bored housewives to go to waste time.  I’m guessing she’s not alone in her opinion.

If you also think that, you’re missing out on the power of Pinterest to help you improve your finances.

Think of Pinterest like a giant search engine that can help you save money in more ways than you can ever imagine.  If you’re not on Pinterest, you’re missing out and probably spending more money than you need to.

Frugal Tips

Is your grocery budget tight for the month?  Or maybe you just want to cut your costs and you think the grocery budget is a good way to do just that.

That doesn’t mean you have to live on endless versions of beans and rice.  There are plenty of frugal recipes on Pinterest.  You can save money and eat healthy by preparing meals like Cheap and Easy Hamburger Stir Fry and even more adventurous foods like Pumpkin Hummus.

Besides recipes and grocery stretching tips, you can find plenty of other frugal tips like lessons learned from the Great Depression, how to keep fruit fresh, and how to save on baby gear.  This is just a sampling.  There are many more suggestions and ideas.  Just search frugal or thrifty tips.

Upcycling

Too many items that still have life in them end up in the landfills.  Pinterest can help you save money and protect the environment by showing you ways to upcycle your clothes.

I’ve recently lost weight, and I have about 10 t-shirts that no longer fit me.  A quick look through Pinterest has given me several ideas for what to do with the t-shirts–create hairbands and jersey dresses for my daughters or create a braided rug for the kitchen, just to name a few of the crafts I found.

Not only am I saving my old shirts from the landfill, but I’m also making items for my daughters that I won’t have to buy, keeping more money in my pocket.

Home Repairs

Still think Pinterest is just for women?  Not so fast.  Men (and women) can find out how to make home repairs themselves.  A quick search on home repairs on Pinterest shows such varied topics as how to paint a porch and how to resolve disputes over home repair estimates.

Pinterest is fun and can be addictive.  But it’s not just a fluff filled site of pretty dresses and hairstyles for bored housewives.

Spending a few minutes a day on Pinterest can teach you many ways to save money and stretch what you already have.  Using this site can indeed make you richer in both knowledge and cash.

Have you joined Pinterest yet?  If so, what are your favorite things to search for?

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What a crazy few weeks it’s been.  Just a few short weeks ago, the Boston Marathon bombing happened.  What followed was surreal with the entire city of Boston on lock down and shoot outs happening in the streets.  In the end, one suspect was dead and another was arrested.  Now Dzhokhar Tsarnaev is talking and has been moved from the hospital.

Since it’s so rare for terrorists to be taken alive, perhaps Tsarnaev can shed some light on his motivation and provide insight into the thoughts of a terrorist.

Regardless, the city of Boston, and the nation, is able to begin healing now that the alleged bomber has been caught.

Around the web, I have been reading some excellent personal finance articles.  Here are some of my favorites:

1. Financial Samurai provides some excellent tips on how to handle your money.
2. Have you tried to potty train your cat?  Sure, it can be a real cost saver, but there can be repercussions.  Here’s how it went for Jason at Live Real Now.  (Note–there’s probably a reason cats use cat litter instead of the toilet.)
3. Sustainable Life Blog argues that you can save serious money by using Craigslist, even if you don’t live in a big city.
4. If you’re on the right path financially, don’t become complacent.  Why not set life goals for yourself?  Living in Financial Excellence explains how.
5. My Personal Finance Journey explains why you need to have a little money set aside for entertainment, even when you’re paying down debt.
6. Do you record how you spend your money?  Money Help for Christians explains the easy way he’s been doing just that.
7. The Family CEO explains how to budget for an irregular income.  I like her second suggestion best.
8. Couple Money has paid off 25% of their student loan debt in 4 months!  Way to go!
9. Thousandaire doesn’t have an emergency fund, but he was able to visit with his dad before he passed because he’d been saving airline miles.  Our thoughts are with you.
10. How well did your parents handle their finances?  Don’t Quit Your Day Job shares what most Americans think about this.
11. What are you teaching the next generation in your family about finances?  Frugal Confessions is trying to get her niece and nephew on the right financial footing.
12. Whether you have an online business or a blog, My Wife Quit Her Day Job gives his guidelines for outsourcing help.  Great advice here!
13. You may wonder if you really need to have a 20% down payment when buying your home.  Money, Life and More explains why it’s essential.
14. Good Financial Cents shares 4 ways to pay off debt faster.

On a different note, Everything Finance was featured in several blog carnivals recently:

Yakezie Carnival hosted by Young & Thrifty

Lifestyle Carnival hosted by Weight Chronicles

Festival of Frugality #382 hosted by The Festival of Frugality

Carnival of Money Pros hosted by Family Money Values

Carnival of Retirement #64 hosted by Making Sense of Cents

Yakezie Carnival hosted by Family Money Values

Festival of Frugality #383 hosted by One Smart Dollar

Carnival of Financial Camaraderie #76 hosted by My University Money

Carnival of Money Pros hosted by Financial Conflict Coach

Carnival of Financial Camaraderie #77 hosted by Free at 33

Carnival of Financial Independence #6 hosted by Reach Financial Independence

Yakezie Carnival hosted by The Ultimate Juggle

Yakezie Carnival hosted by Thirty Six Months

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When an injury occurs, the injured party will at some point, be offered a Settlement. This will be either in the form of a Structured Settlement, or a Lump Sum. The cause of the injury doesn’t matter in order to qualify for a settlement offer. It could have been an auto accident, workplace accident, or even falling off of a ladder at your neighbor’s house. The point is that the structured settlement has a lot to offer, but has a built-in surprise.

Benefits Of Receiving a Structured Settlement

The stream of income from the Annuity will be Tax-Free. This is a unique benefit unequaled by other financial-products. Another benefit of an Annuity is that it can be set-up for a lifetime of guaranteed payments. The Life Insurance Company bears the burden of fulfilling the guarantee of payments. The claimant is secured by the full-faith and performance of the Life Insurance Company.

Investment in other financial products can involve major fees. These fees effectively lower the ROI by up to 5.5% per year. You can look forward to such fees as: Investment Management Fees, Legal and Accounting Fees, etc. There are no fees placed on Annuities.

The Big Surprise

The big surprise is that………things change! When you accepted the structured-settlement offer, it sounded great. Fixed payments over a fixed amount of time. Sounds good, that is until that set amount of money is no longer enough to meet your needs. This happens all of the time.

The good news is that if you are an owner of a settlement, you can consider yourself lucky. In these tough economic conditions, and uncertainties, you hold in your hands the key to financial freedom. Do you have any idea how many people wish they had a settlement they could turn into a large lump-sum of cash?

I have many clients who were fortunate enough to be the owner of a settlement. It was not fortunate that they were injured, but now they hold the winning hand. As other folks all around are struggling to pay their bills, a settlement holder can sell their Annuity, and have a windfall of cash.

How they handle this sudden windfall of cash will determine if it was worthwhile to cash-in. Some people have payments due on their Mortgages and Auto Financing, while others need some extra cash for their kid’s college tuition. Some of my client’s have taken their settlement and invested it wisely. They have replaced the income stream, and have investments that are appreciating in value.

Don’t Go It Alone

It would be silly not to enlist the aid of a competent Structured Settlement Broker, such as Einstein Structured Settlements. The value of an established company in this field, with all of their connections and experience is immense. It can mean the difference in the amount of money you are offered for your settlement. Stick with the well-known firms, l always recommend the helpful staff over at Einstein Structured Settlements you can check out their website for selling a structured settlement here.

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One of the most difficult aspects of investing is knowing when to buy, sell, or hold the items in your portfolio. While there is no right answer and no way to ensure that you “win” your battle with the stock market, you can at least make an educated guess.

It’s important to know whether your stock is fluctuating just because of day-to-day changes or if there is something bigger going awry. Many financial advisors suggest that if a stock drops 20% below what you paid for it, it might be wise to switch to a stock that is on the rise. You can also average the price of a stock for 30 weeks to determine the moving average. When that goes down, it could be a sign that the stock is in trouble. Averaging 30 weeks also helps to factor out the day-to-day fluctuations that affect all stocks so that you can make an educated choice.

If you do make a wise investment that leads to a profit, it can be really tempting to spend the earnings, but you might want to hold on to them. Here’s a scenario: Let’s say you recently invested in an airline that was about to go bankrupt. Despite the rumors, you know that airlines frequently merge so you take a chance on the stock. A few weeks later, the airline announces that it is, in fact, merging with another. You were right, and the stock quadruples.

Now, it may be tempting to jump up and down and buy yourself something special with the few thousand dollars of income you weren’t expecting. However, one of the wealthiest people in the world, Warren Buffet, advises to always re-invest your profits. After all, that’s how he became a billionaire.

For those not in the know, Warren Buffet’s career as an investor started out when he was just a teenager who bought a pinball machine. Instead of collecting nickels from the pinball machine and going to buy a new pair of shoes with the earnings, Mr. Buffet bought another pinball machine and so on. Today, he’s one of the wealthiest people in the world.

So, when you make a profit, whether it’s in your own company or in the stock market, re-invest your earnings. Many people are worried that they will lose all their earnings this way, but if you choose wisely and are conservative with your investment choices, you have everything to gain.

In sum, I suppose the title of this post should have been “Know When To Hold Them, Fold Them, & Re-Invest Them” as those are the primary principles to follow when it comes to the stock market.

While I don’t claim to be an expert trader by any means, I do know that investing in the stock market takes a significant amount of time, research, and dedication. Remember, talk to your financial advisors. You don’t want to  buy a stock just because your friend, neighbor, or uncle told you to.

How do you decide when to hold them and when to fold them when it comes to investing?

Photo Credit: FreeDigitalPhotos.net

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