Practice Minimalism to Simplify—and Boost—Your Financial Life

Practice Minimalism to Simplify—and Boost—Your Financial Life

Minimalism isn’t just about a tiny house, capsule wardrobe, or Marie Kondo. It can even mean different things to different people. But at its core, minimalism is about “less is more.” In personal finance, it doesn’t mean you stop spending money. Instead, eliminate distractions. This way, you can create more opportunities to spend on things that matter-and shift your mindset from making money to enjoying life.

1.  Declutter & Organize Finances Better

Clutter is the enemy of minimalists for various reasons. It creates visual and mental chaos, and having too much stuff means you have spent money on things you rarely use or need. Even if you don’t switch to a thoroughly minimalist lifestyle, it’s good practice to declutter regularly. You can earn extra income and keep your living space organized by merely selling old clothing, shoes, and household items.

Decluttering may also mean consolidating your bank accounts into a single savings account and one checking account. You can then simplify your banking and track your finances better. If it’s possible, cut back to one credit card. Choose one that offers the best rewards and interest rates. It will be easier to manage your monthly spending and handle payments with one credit card than having five or ten.

2.  Adopt The One-In , One-Out Rule

This rule of minimalism is simple: every time you buy something, you have to get rid of another thing you already have in the same category. Say, you want to buy a new belt, you have to let one of your old belts go. That is easy when you haven’t decluttered, but once you’ve pared down, it can be a harder decision. In a way, this helps you be mindful of every purchase and break the habit of impulse buying. Plus, with a formed habit of buying what you only need, you can free up money to invest and secure your future.

3.  Go For Multi Purpose Investments

To do more with less, minimalists often focus on items that serve multiple functions. Instead of merely buying a new wooden bed frame, they will look for one with built-in storage. You can take the same approach not only on your new purchases but also on investments. For instance, get a life insurance policy that comes with investment plans. You can cash in the investment to enjoy your retirement years. And with life insurance, your family’s financial future will be secured after your death.

4.  Value Experiences Over Material Things

The coronavirus pandemic has probably shown you what’s essential and what’s not. Build on that by looking at shopping as something you need, not something you do as a hobby or therapy. Many minimalists emphasize that acquiring less allows you to free up more time and money to create experiences. With or without pandemic, spending time with your loved ones should always come first.

Whether in fashion, home design, or personal finance, minimalism is about discovering what we need. By living with less, we have more room in our lives for things, experiences, or people who truly matter.

best,

– a contributed post

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Steps To Becoming Truly Financially Independent

Steps To Becoming Truly Financially Independent

Financial independence is a goal that’s often touted, but people tend to use it in different ways. What does financial independence really mean? What is it that you’re trying to become independent of? Here, we’re going to look at a few metrics by which to measure how free your money is, and what goals you might still have yet to meet.

1.  Make Sure You’re Investing In Yourself

A lot of people who are living paycheck to paycheck simply do not need to. There are people who are stuck in bad situations where they can’t spare much money. However, there are also people living so close to beyond their means that they have no money to safeguard their future. By implementing a pay yourself first system, most people can ensure they’re working towards financial goals and savings that help them secure their future.

2.  Diversification Of Your Own Income

The more you rely on one income, the more at risk your financial future is. Most people think that working a job is enough to secure themselves, but we have all seen how easy it is to lose a job, especially in times of upheaval. Recessions are likely to become more common in the future, and there’s no job that’s truly recession-proof, so you need to look at investing and other ways of diversifying your income.

3.  Starting Your Own Business

Starting a business and employing yourself is not less risky than working for someone else. In fact, it can come with more risk depending on how much money you invest in it. However, unlike working for someone else, the risk is at least manageable. You can decrease the risks associated with running a business. You cannot decrease the risk of being let go due to market and company changes.

4.  Less Reliance On Banks

Banks play a huge role in our financial lives and most people wouldn’t know what to do without them. However, there are movements looking to shy away from centralized organizations that have full and final say over our money, such as how DTSS stops the banking fraud. After many people lost savings in the last major recession, and with the rise of decentralized saving and spending tools like Bitcoin, more people are looking at ways to reduce our reliance on banks.

5.  Stay Out Of Debt As Best As Possible

It can be difficult, given that most of us will rely, at some point, on debt to buy houses, cars, and to start our own business. However, so long as you have financial ties to debtors, you are not financially independent, it’s as simple as that. Implement what methods you can to get out of debt and try to rely more on investors and savings to float you in future.

It’s important to know that not everyone looks at financial independence the same and there may be some level of dependence you’re comfortable in having. You don’t have to cut all ties as some might suggest, but it’s worth knowing the benefits and why they’re saying that.

best,

– a contributed post

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Cutting the Cost of Car Ownership

Cutting the Cost of Car Ownership

Buying your first vehicle is a rite of passage than everyone looks forward to but it doesn’t take long for the realities of car ownership to sink in. Unfortunately, owning a vehicle doesn’t tend to get any cheaper, so reducing the cost any way you can is always advisable. For savvy ways to improve your finances, take a look at these sure-fire ways to cut the cost of car ownership:

1.  Save Instead Of Splurge

If you can afford to buy a car without financing or without taking out a loan, it’s certainly worth doing so. Although you might need to settle for an older model, buying a vehicle with cash means you can save spending a small fortune on repayments. When you factor in the cost of interest or car financing or personal loans, it increases the purchase cost by a substantial amount. 

If you simply don’t have the funds to buy a vehicle outright, shop around to find the best repayment terms. Some financing companies and loan providers offer loans with an interest-free introductory period but beware of subsequent rate hikes and early repayment clauses. Do the math and calculate how long a loan will cost you in the long-term before you sign a contract.

2.  Buy Spare Parts Online

There’s no doubt about it, your vehicle will need spare parts, consumables and accessories from time to time. Whether you want to make your car smell great with a new air freshener or you’re in desperate need of new tires, you’re going to need a spare part supplier that doesn’t cost the earth. Fortunately, online retailers, like Automotive Stuff, make it easy to access affordable, top-quality parts and accessories. When you can, plan ahead and buy the things you’ll need when promotions are on. This will save you money in the long-term and ensure you never run out of car maintenance essentials.

3.  Shop Around For Insurance

Aside from the cost of your vehicle, insurance might be the biggest vehicle-related expenditure you encounter. In fact, some people end up spending more on insurance premiums than they do on their vehicles! However, you can reduce the cost of your insurance by opting for a car with a smaller engine. Similarly, more expensive vehicles are going to cost more to ensure, so stay within your budget when buying your car and you’ll also benefit from cheaper insurance. 

Adding new or young drivers to a parent’s or partner’s insurance policy can be an effective way of reducing the cost. Inexperienced drivers typically face expensive premiums, but a joint policy can minimize the risk they pose and, therefore, drive down the cost of premiums.

4.  Maintaining Your Vehicle

Although car ownership can be expensive, it doesn’t have to be. Taking good care of your vehicle and keeping it well-maintained is probably the easiest way to minimize the cost of car ownership. By having your vehicle serviced regularly, replacing consumers, like oil and antifreeze, when they’re needed and switching out your tires, you can reduce the wear and tear on your vehicle and minimize the cost of ownership.

best,

– a contributed post

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15 Father’s Day Gift Ideas That Won’t Break The Bank

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Keeping Your Side Hustle Secure

Keeping Your Side Hustle Secure

Many people like to earn a little extra money on the side by starting up some kind of a side hustle. If you are keen to do that, you will first need to get clear on what kind of side hustle you are going to try out. It has to be something that you are good at, something you are passionate about, or else you are unlikely to stick with it. Beyond that, you have to make sure it can actually earn you money, otherwise, it is a hobby and not really a hustle. Finally, make sure that you know how to keep it secure once you have started it. That is what we are going to look at in this article.

1.  Starting It Right

One of the reasons you need to be so careful as you start up your side hustle is that the way it starts indicates a lot about the way it is going to carry on. If you want it to be secure, you are going to need to make sure you start it off in the right way first. That’s actually easier than it might sound. You mostly just need to make sure that you are aware of how to get it going. That means that you should budget it out straight away, and set up a strong plan which you can follow throughout. If you can do that properly, you are going to find that it has a much stronger future.

2.  Getting Legal Help

You might not feel that a simple side hustle is going to need much in the way of help, but you would be surprised. Actually, there is a lot of help that you might need, and one of the most important ones is going to be having legal assistance on your side. As long as you have that in the form of business lawyers like Boppre Law Firm, you can have much more faith in the ongoing solidity of your business. You never know when you might need that kind of help to help you along, so it’s something that you are going to want to focus on.

3.  Time Management

At some point, you are going to have to decide just how much time your side hustle takes up. It has to be enough time that the thing will actually continue to thrive, but not so much that it is suddenly the main thing you are doing. If you are able to find the balance between those two things, then you are definitely moving in the right direction. Good time management is something a lot of people have to practice before they can really get it right, so you might want to think about doing that. But as long as you do, there is no reason you can’t expect your side hustle to work out.

With these taken on board, you should be able to keep your side hustle as secure as you would hope. It will then earn you much more effectively.

best,

– a contributed post

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15 Father’s Day Gift Ideas That Won’t Break The Bank

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15 Father’s Day Gift Ideas That Won’t Break The Bank

15 Father’s Day Gift Ideas That Won’t Break The Bank

15 Father’s Day Gift Ideas That Won’t Break The Bank

Some of the links in this post are “affiliate links.”  This means if you click on the link and purchase the item, WSW will receive an affiliate commission.  Additionally, Who Says What is a member of the Amazon Affiliate Program.  Please review our Privacy Policy for more information.

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Father’s Day is almost here (June 21, 2020) and I know you’re looking for the perfect way to tell your dad that he’s the best!

To help you out, I’ve rounded up some budget-friendly Father’s Day gift ideas that scream “I love you!” without breaking the bank.

Whether your dad is the outdoorsy type or a snuggly homebody, you’ll find something on this list that he’ll love.

But, let’s all remember:

Change your money mindset

Celebrating dad isn’t about the gift you give him but how you show him how much he means to you.

So, let the guy sleep in late, make him his favorite breakfast, and yeah, shower him with a few gifts.

He’ll feel like the luckiest man in the world!

These are 15 Father’s Day gift ideas that your dad will love:

15 FATHER’S DAY GIFT IDEAS THAT WON’T BREAK THE BANK:

1.  Personalized Wallet/Money Clip, $32.99

This sleek wallet makes the perfect gift!  Personalize it with a message that makes dad feel super special.

2.  Amazon Gift Card, $25+

There’s no better way to say “I love you” than by saying “go buy what you actually want!”

3.  Papa Bear Mug, $19.95

If your pops loves coffee, this personalized mug is the way to his heart!

4.  Survival Kit, $39.99

Got a wilderness junkie on your hands?  This survival kit has everything your dad will need for camping, hiking, hunting, and more.

5.  Hipcamp Experience, $25+

Send your dad on a weekend camping trip by finding him a unique and low key spot on Hipcamp!

6.  Grilling Set, $32.99

Make sure your dad has everything he needs to cook your favorite meals on the grill this summer!

7.  Beard Grooming Kit, $24.99

Help your dad take care of his epic beard by grabbing this beard oil and balm on Amazon!

8.  Bartender Kit, $39.99

Uhm!  Yes, please!

9.  Kiwi Co Eureka Crate, $29.95

A Eureka Crate from Kiwi Co makes the perfect gift for any dad who loves building and creating.  Designed for ages 14-104, the Eureka crate combines science and engineering to create amazing projects!

10.  “What I Love About Dad” Journal, $20.95

Tell dad how much he means to you by filling in 45 different prompts!

11.  Adidas Hoodie, $39.99

My man is always looking for a new hoodie and, uh, how cozy does this one look?!

12.  Used Books Monthly Subscription, $5.79

Is your dad a book lover?  Subscribe to Used Books Monthly and have a new book sent to him each month!

13.  Multipurpose Backpack, $44.50

This sleek backpack is perfect for camping, hiking, fishing, and more!

14.  The New Yorker Subscription, $5.00

Another great father’s day gift ideas for any readers out there!

15. Birchbox Men’s Grooming Subscription Box, $10.00

Load your guy up on all the essentials every month with a subscription to Birchbox for men! Included are 5 products such as face wash, deodorant, shaving essentials, and soap.

Voila!  Now you have no excuse not to get your dad something special for Father’s Day!

With these 15 Father’s Day gift ideas, you’ll be sure to make his day.

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HAPPY FATHER’S DAY!

– Michelle

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15 Father’s Day Gift Ideas That Won’t Break The Bank

15 Father’s Day Gift Ideas That Won’t Break The Bank

Updated On May 14, 2020Some of the links in this post are “affiliate links.”  This means if you click on the link and purchase the item, WSW will receive an affiliate commission.  Additionally, Who Says What is a member of the Amazon Affiliate Program.  Please review...

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fathers day gift ideas
fathers day gift ideas

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