Going back to school isn't just for the little ones. It can be a time for grown-ups to get anxiety too. And not just over the work they'll have to do. If you've noticed the job market is saturated with candidates that have bachelor's degrees, you've possibly considered getting a graduate degree to give yourself an edge. But balancing family expenses is hard enough without adding tuition and books. Plus don't forget all those hours invested in working on projects and studying. You might even convince yourself that paying for a graduate degree and keeping your family afloat is nearly impossible. But remember - you're not the first adult who's gone back to school while working, parenting, etc. If you're in this boat, here are a … [Read more...] about Going Back to School on a Budget as an Adult
Savings & Budgeting
14 Easy Ways How to Cut Power Bill Expenses During the Winter
The winter-time can be a very challenging time for most people. It’s cold. It’s dark. And it’s hard to travel. Unfortunately all of those things can make people want to stay indoors during that time. And that can lead to a big increase in your energy bill. All of the sudden you’re dealing with drafty windows, more hot water treatment, and a whole more electricity usage than you ever would have during the Summer-time. Luckily there are lots of effective ways how to cut power bill costs that are easy to do. All it just takes a little bit of planning and a few basic things to remember. Helpful Ways How to Cut Power Bill Costs: Lower the thermostat. Each degree that you turn down your thermostat will result in 5% … [Read more...] about 14 Easy Ways How to Cut Power Bill Expenses During the Winter
How Should I Set Up My Financial Plan?
How much thought have you ever given to your financial plan? Throughout my career, if there's one thing I've learned about successful businesses, its that they have a solid financial plan at the core. When it comes to our own personal finances, we could all benefit by doing exactly the same. This is why I strongly recommend that every house sets up their own financial plan for success. But how do you do this? What are the "correct" numbers to strive for? And what goals should you even be working towards? In this post, we'll seek to answer these questions and give you a sample financial plan that will kick your budget into shape! Your Personalized Sample Financial Plan: Over time we’ve collected a number of … [Read more...] about How Should I Set Up My Financial Plan?
Tips for Getting by Without Borrowing Money
The following contribution is from a reader of My Money Design. If you’d like to write for us, please feel free to contact me. Borrowing money is usually one of those things that sounds great at first, until the bills start coming in. If you take a look at just how much money you have to repay for the amount you borrowed, you will realise how much money you may have wasted on interest. If you would have planned ahead before borrowing money, you would now have more cash available to purchase other things you want. The problem is that debt often turns into a never-ending cycle of outstanding debt as you continue to accrue more and more interest. Many people may spend their entire lifetime trying to climb out from under their pile of … [Read more...] about Tips for Getting by Without Borrowing Money
Putting Your Hobbies on Hold
The following post is a guest contribution from Jefferson at See Debt Run. If you would like to write for My Money Design, please feel free to contact me. People often ask us about the sacrifices that my family had to make when we were paying off over $20,000 in credit card debt. I usually respond by telling them about how we cancelled vacations, stopped eating out, and figured out ways to slash our utility bills. We also found ourselves having to get creative to find ways to spend our free time that didn't involve spending any money. Even many of our traditional hobbies that we used to pour ourselves into in our free time were no longer an option for us. With so much of our cash flow tied up in your repayment efforts, there was … [Read more...] about Putting Your Hobbies on Hold
You’re Going to Need A LOT More Emergency Cash – Bad Things Will Happen!
If you’re one of these people who walk around in a cloud of optimism thinking that nothing bad will ever happen to them, and that a safety net of $1,000 or so should suffice, I’ve got some bad news for you… You’re going to need A LOT more emergency cash. And I mean A LOT more than you think! Let me tell you what happened to us over the Christmas break. It’s a pretty funny story – funny for you to hear, but not funny to me at the time. All I can say is start saving! You never know when something like this is going to happen. But its inevitable that it will! Here’s my story… What Happened? On the last day of work before our official Christmas break started, I drove my wife’s GMC and noticed some pretty weird … [Read more...] about You’re Going to Need A LOT More Emergency Cash – Bad Things Will Happen!
How to Take a Vacation on a Budget without Breaking the Bank
The following is a post by David Bosier, a personal finance and money saving enthusiast with a background in the S&L industry. If you would like to write for My Money Design, please feel free to contact me. There’s nothing better than getting ready to go vacation. Soon you’ll have nothing to do but relax, play, eat, sleep, and explore. If you haven’t taken one in a long time, I can guess the reason why: Money! Hotels and airfare can add up really quickly. However, little do people know that it is actually pretty easy to take a vacation on a budget without spending an arm and leg. The trick is all in knowing where to find all those great extras and then using them to your advantage. How to Plan a Vacation on a … [Read more...] about How to Take a Vacation on a Budget without Breaking the Bank
New Car vs Used Car – Which One is the Better Buy?
Whether you’re looking at buying your first car or replacing a previous vehicle, there’s one decision you need to make right away: new car vs used car? That one decision will determine, to a large degree, where and how you shop for your vehicle. New Car vs Used Car Factors to Consider: While the financial factor of this decision isn’t the only thing to consider, it is a significant factor. Here are some of the basic financial assumptions involved in buying a car: A new car will cost more than a used car. The sticker price on two comparable vehicles, one new and one used, will vary significantly. A new car loses as much as 40% of its value in the first three years (about 15% of that in the first year), and you can expect to … [Read more...] about New Car vs Used Car – Which One is the Better Buy?