Are you a One Car Family?

Not everyone can afford the luxury of being a two car family. Having cars that are safe is the most important thing no matter how many cars you have. I have friends that are one car families. Everyone's situation is different. Maybe they don't go many places without each other. Maybe they live in an area that they can walk to places. Many people live paycheck to paycheck and can't afford it. When I was married, we were a one car family. I was usually the one at home. He would drive me to work and then go home. It worked for us. He didn't work most of the time so I didn't have to worry about not picking me up. I also worked close to home so I could walk if I needed to. We definitely didn't have much money.

The economy has really effected almost everyone. Throw in rising food prices and some people have to sell their second car just to pay bills. An extra couple hundred dollars a month may not be something everyone can afford to spend. Being a one car family regardless of the reason is fine. We all live differently. Cars have become status symbols and it shouldn't be that way. If you decide to become a one car family, there are things to consider. You have to discuss and see if it's an option for you. You can always save and get another car down the road.

Check out my post about becoming a one car family.

Four ways to cut your spending

With the economy being how it is at the moment, a little extra money to spend is something many people would welcome. If cash is tight there are a number of options available to you,such as getting a credit card or taking out a loan. But even if you do that there are other simple ways to reduce your expenditure too.

Consider where you buy

In days gone by, comparing prices meant going from shop to shop and making a note of how much an item you wanted costs. Thankfully, if you’re prepared things can be much easier these days and thanks to the internet you could almost entirely avoid the high street if you wanted to. It’s easy to compare prices online and (depending on what you want) it can be cheaper too, so always have a look before handing over your cash. If you’re shopping for a holiday then prices can vary greatly, so never settle for the first price you find. Remember too that it might be worth waiting for your credit card application to be approved, to protect your cash in case of something going wrong.

Slash your bills

Household bills can soon add up, so it’s well worth finding out if you could make savings in any way. This might be possible by switching to a new tariff, paying by direct debit or moving to a new supplier. If you’ve been with the same company for a few years then your loyalty might not be paying off, so find out what the competition has to offer.

Save money on your car

If a car is something that’s essential in your life then it’s probably an expense you have factored in to your budget. But that’s not to say you couldn’t be paying less. Shopping around for a better car insurance deal might help, but you might also like to consider car sharing when possible. This could mean sharing driving duties with work colleagues, or weighing up if your family really needs that second car.

Make days and nights out cheaper

In summer it can feel like one gathering after another and while that’s great for your social life it can take its toll on your bank balance. So instead of dining out at a restaurant, it might be worth inviting your friends over for a barbecue. That way everyone can contribute with a little food and drink and the costs can be kept to a minimum. The same applies to days out, so take a picnic to the park instead of forking out to go to the cinema.

Enter to Win a $50 Amazon.Com Gift Card from Net Worth Envy

Sometimes when I am watching TV and movies, I wonder how much certain celebrities are worth.  Just out of pure curiosity.  I love to watch The People’s Court and I know that Judge Milian buys her reading glasses at the dollar store.  I think that is awesome.  I remember looking up her net worth once.  She is fiscally responsible.  Another time I looked up how much Judge Judy is worth because she bet one of the litigants, part of her salary in a case. I was curious to just how much that would be.  Judge Judy is definitely worth a lot, because she has had her show for many years.  One of my favorite actors is George Clooney.  His net worth is 185 million dollars according to Net Worth Envy. It’s a pretty cool site where you can find out celebrities net worth and what they are spending their money on.  What kinds of cars they drive and if they own a yacht.  I have definitely bookmarked it to keep up to date.

Net Worth Envy has generously offered an awesome giveaway to Amazon. They are offering a $50 gift card.  I love Amazon, because I can pretty much find anything I could want on one site.  It’s great not to have to shop around at a ton of different stores or sites. You don’t have to pay shipping to a bunch of different places and wait for tons of packages.  It all comes bundled in one. You can usually get free shipping when you spend $25 or more. You can definitely score free shipping if you are the winner.  So hurry up and go enter to win a $50 Amazon.com Gift Card from my friends at Net Worth Envy.

ENTER TO WIN

Tips on How to Prepare for Retirement

When you get older, you start thinking about retirement. You start making bucket lists and start thinking about all the fun things you want to do.  The biggest question is "How am I going to afford it?" It depends on your employment if you receive a retirement check. You usually have to pay in to it out of your wages.  Many people have worked for most of their lives, some at the same job. My mom is a teacher and has been teaching for thirty six years. She was a teacher in Indiana for 33 of those years. So, naturally she has paid into it for a long time.  So, when she retires she will be fine. The amount of your retirement from your job will be less than your salary. It also depends on how much you paid in to it. Unless you have a high paying job that you have been at for many years, you won't be able to live on that retirement alone. I read an article on Fox Business about three insurance policies that can help pay for your retirement.

There is also Social Security. That too depends on your employment and how much you pay in to it. Social Security also isn't a big amount each month usually either. I know that some people opt for 401k's.  A 401k is retirement savings plan. The contributions are often partially or fully matched by the employer. There are also other private retirement savings plans you can save for your retirement on your own on before taxed income. Another option is an IRA which is an Individual Retirement Account. An IRA reduces your taxable income until you take it out when you are usually are in a tax bracket. You are saving for retirement and saving money by using an IRA. There is a limit of how much money you can put in an IRA a month.   I know this is all kind of confusing, thankfully my friends at Genworth has tons of information to help protect your nest egg.  Be sure to check out their Everything Retirement section.

If you are close to retirement or not, I don’t think you can be too early when you start planning. The earlier you start; the better off you will be later. Retirement is meant to be a happy and joyful experience, don't let finances take your joy away.

This post was inspired by Genworth and Brandfluential. All thoughts and opinions are my own.