Leaving your credit card(s) at home - If you are on a tight budget and have a clear amount of money you want to spend when you go out to shop or dine leave your credit card at home intentionally. Bring a little extra cash but make sure you do not have too much in your wallet. This way even if you encounter a product on sale that you don’t really need you won’t be able to buy it since you only have enough in your wallet. Even if you do end up buying that product you’ll end up not buying something you don’t need in order to make ends meet.
Invest - If your money is tied on (profitable) investments you will have less money to spend whenever you want to. In addition to this by making wise investments you will be ensuring that your money will grow hopefully at least enough to offset inflation. Remember to stay away from risky investments though because even though promised interest rates may be high if the investment falls flat you’ll lose your money.
Make it a family effort - Educate your kids about consumerism and its negative effects. Help them find new ways to enjoy themselves without having to rely on things, whether newly bought or not. This way you’ll be reaping several benefits such as more family time, decreased expenses, and an educated next generation.
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Here are more habits you should cultivate so as not to be a victim of consumerism. Note that most of them will not only help you save lots of money some can even potentially make you some money. And lets not forget the positive effects to the environment as well!
Reuse - Instead of buying new stuff reuse some of the old stuff at home. This is important for non-biodegradable products. If you really have no use for something any more but it is still serviceable give it away to someone who can use it. You can find reuse centers in your area to give away your things to.
Keeping things neat - Doing this will help you keep track of what you already have and what you don’t. As a practical example, how many times have food stuck at the back of your refrigerator gone to waste? By keeping things in order you can inventory your stuff at a glance so you can plan your meals more easily, know when you have to buy stuff, know when you need to use or give away something before it is wasted, etc.
Give to charity - If you already have too much stuff than you actually need you might want to give some (or even a lot) of them to charity. If you haven’t used something for a couple of years what are the chances you’ll ever be using them again? You can also sell old stuff on eBay and then give a percentage of the proceeds to charity. This way you get to clean house, make some money, and help those in need.
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1. Pick up a part time job consulting in your field.
2. Have a garage sale and sell anything you don’t need.
3. Cut up your credit cards and just use cash.
4. Make money online in your spare time.
5. Eat out less.
While these five ideas might seem like no brainers to most of you. They are really not the norm in our society of spend more than what we have. Keeping things simpler and living more like our grandparents did during the depression is definetly a step in the right direction.
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I couldn’t help but write this article. You might get the wrong idea that I’m a horrible person but basically there are ways to Celebrate the holidays then just prancing around and spending money on consumer items. The Homeless for example are in great need of help. Money spent there is a great karmic investment.
Or donating to a local chapter of Habitat for Humanity is another great way to spend Christmas with the family. Instead of opening lots of gifts buy one for the family like a donation and then maybe one neccesary item for each person.
It’s about sharing and caring and remembering family and certain religious traditions if you have them. The money you save on consumer items can be reinvested back into the family and small housing and home improvement projects.
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When it comes to buying a real estate investment property, the first deal is the hardest.
I know that financing your first investment property can be a major pain. The first time is by far the scariest and hardest. After you get over this fear and hump it you are on your way to success. It’s like this with lots of things in life. Travel,girls, and just about everything worthwhile. You have to take a risk, put yourself out there and be prepared for success.
Check your credit score early and often to make sure there aren’t any mistakes or issues you need to address before hand. This will save you many headaches going forward.
Next decided what kind of property you are looking to purchase. I would recommend the under 10k variety near a big city like Louisville,Kentucky or Detroit,Mi.
Get your paperwork in order.Your bank or credit union will need all your paperwork such as bank statements, paycheck stubs, and all your financial records. So go ahead and get it all organized so they can look it over. Keep this all together and up to date.
I’d recommend hiring a real estate attorney to get all your paperwork organized and give you strong advice on moving forward.
Next, get prefinanced.
This will save you time and headaces with realtors. Next head on out and get your fixer upper.
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