Tips For Saving Money On Necessities


We all love saving money, but after the extras have been trimmed from your budget you may still be looking for ways to save even more. While it may seem difficult to save money on purchases you can’t live without, it is possible. Let’s take a look at some ways to save money on things that you can’t avoid purchasing but would rather spend less on.

Buying in Bulk

file6651242495818Buying in bulk has taken off in recent years as a way to cut back on the cost of routine purchases. Warehouse stores such as Costco and Sam’s Club sell everything from groceries to automotive supplies, and the price per unit is substantially lower than a more traditional store. Keep in mind that it’s important to make sure that a bulk purchase won’t go bad if you don’t use it quickly enough.

Buy Used When Possible

You’re actually much better off purchasing used in some situations. A perfect example of this is buying a car. In addition to costing considerably more out of pocket, new cars also lose a significant chunk of their value the moment you drive them off the lot through “depreciation”.  For instance, if you are looking to buy used cars in St. George, you can save money by going online and searching for a vehicle with a good reliability rating and then simply hunt for a good on that particular make, model and year. Often, online deals are already priced competitively so there is less haggling involved. Of course, you still want to make sure that the chosen vehicle is in good shape prior to purchasing, so a little more research is involved. Overall, though, purchasing used online, can save you money on nearly every common purchase, whether it’s a car or a smartphone. [Continue reading]

What First-Time Home Buyers Should Know


Making the decision to buy a home can be both exciting and frightening at the same time. There are many considerations to be accounted for before you even sign the papers. Since this is likely the biggest purchase you have ever made, it’s important to do it right to prepare for the future. Consider the type of home you want to buy, decide on a budget and stick with it, understand that the searching and buying process can be a long and arduous task, and be sure that buying is the best option before you go in. Here are some other good tips to get you started.

Decide on the Type of Home You Want

 First-Time Home BuyerThose who have a strict budget may consider buying a fixer-upper to save money. This can be a good option if the buyer has knowledge about home repairs or knows someone who can help them fix up the new place. It’s also important to understand that this type of home often has more issues than are apparent at first. Anyone who has ever watched HGTV  knows that more often than not, once repairs are started, hidden problems will be uncovered requiring more time and money than first expected. So be sure to add at least 10% to your budget to cover surprises.

Budget

Whether buying a home alone or with a significant other, it’s important to stick to the budget. Representatives from Republic State Mortgage Co recommend talking to a professional can help you see the amount you’ll qualify for and have it broken down into monthly payments to see what is affordable. The buyer should always be sure to account for other expenses that come with home-ownership such as insurance, cable/satellite services, electricity and other utilities. These can add up quickly, and must be taken into account when the budget is first set. Understand that buying may not be the best option for those that move around often as it often takes around five years to accrue some equity in the home.

Understand the Process

Buying a home can be a long process and you may look at many houses before you find one you really want in your price range. Budget constrictions, location, and a competitive market can all impede the process. When searching, it’s best to think of location as one of the top priorities in the case of many buyers. A home’s exterior can be altered as can the inside of the home, but you cannot change the location. Think and rethink before signing the papers to be sure you’re making the right decision about the home. Don’t let a competitive market push you into buying if you aren’t certain.

Most listings that are sold through a Real Estate agent requires the seller to pay the agents involved approximately 6% of the total sale price. If you buy a home that is “For Sale by Owner” (FSBO)  you might be able to save 3-6% on the price of the house. But that also means that you will not have the assistance of a trained agent in handling the complexities of the sale. If you decide to go this route it pays to do your homework first and read some good books on the subject like:

Buying a first home can be stressful but is also a great life achievement. Always research locations before deciding on a home and remember it’s important to understand that home ownership comes with the hassle and expenses that renting doesn’t. Most importantly, you shouldn’t buy something out of the price range, no matter how perfect the home may seem.

 

Did You Know You Can Negotiate Your Medical Bills?

hospital

Even with health insurance, you can rack up medical bills if you need an extraordinary surgery or simply have to stay in the hospital for a long period of time to recuperate from a dangerous illness or devastating injury. And for those without health … [Continue reading]

How to Manage Your Debt

Manage your Debt

When it comes to managing your debt, financial expert Dave Ramsey suggests that you always give your money a job. In other words, you need to tell your money where to go each month. If you're struggling with keeping your family finances in line, here … [Continue reading]

5 Tips for When Money is Tight

Tight Money

Money problems cause stress in the home and they can lead to tension and even divorce if they continue too long. Don’t ignore financial problems. Instead, adopt a proactive attitude that puts you in charge of your future. Learn from the following … [Continue reading]

Avoid the “Money Pit” Syndrome

Home Remodel - Paint

Back in 1986 Tom Hanks and Shelly Long starred in a movie called "The Money Pit". It begins when they buy a big, grand, dream house in the New York countryside. It is, of course, too good to be true, and before long they realize that all the repairs … [Continue reading]

Retirement Ready? How to Prepare Your Finances before the Big Day

Estate Planning

Retirement isn't a stage in life you can just jump into without preparation. It takes decades of preparation to save enough money to afford the life you want, and it also takes time to get your finances ready for the burden of a life without income. … [Continue reading]

Breaking the Budget Bonds: How to Free Up More of Your Finances

Breaking the Budget Bonds How to Free Up More of Your Finances

If you're like most people, you realize that you put a budget in place to limit spending and to reach other financial goals of saving money or paying down debt. Of course, like most people after living on a budget for a while, you may find that … [Continue reading]