How to Save Money on a Major Household Purchase

How to Save Money on a Major Household Purchase

Everybody is being especially careful with money right now, and you are no different. But there are still some major purchases you need to make for your household. Is there a way to make sure you can both save money and get the products you need? How can you save money on a major household purchase?

Buy Used

With the internet readily accessible, buying used goods is far easier than it ever has been. There are some things which it’s difficult to purchase used, but others you can get used and not only save money but get quality, durable goods. Baby clothes, for example, are usually high quality and used for several weeks or months at a time. Cars, in particular, are much better as used options—they have already “lost” the value of driving off of the lot and being several years older, but yet, if well cared for, can be beautiful and serviceable for decades more. There are excellent groups online, on Facebook, and other websites, to find beautiful décor, clothing, and used jewelry options.

Look for Holiday Deals

Holiday deals don’t just happen in December! If you know when the deals are, you can find deals all year round. January, for example, is a great time to look for sheets and furniture. Stores often hold sales on items such as mattresses on Memorial and Labor Day. Consider waiting just a little while longer if you are buying those sorts of major items and look online for great deals.

Buy Online

There are amazing options online for finding excellent deals on large and small household purchases, by those who have been practicing safe-savings for decades. Websites such as Honey give you the option of having a web-crawling algorithm search for the best options and prices for you. Forums on many sites, such as Slickdeals, give you thousands of forum members who are dedicated to finding excellent deals. Others, like SouthernSavers, give you the option of both fun deals and local grocery deals, while also making sure you can find great household options.

There are so many ways to find great deals on major purchases, but you have to be able to resist the “sudden urge” or pressure to buy. Look around, find your best deals, and figure out what is the best option for your family. Your pocketbook, as well as your living room, will thank you!

Read this next: How to Build a Stable Financial Foundation for Your Future

What Every Newcomer Needs to Know About Homeownership

What Every Newcomer Needs to Know About Homeownership

Buying a new home is exciting and complicated but doable. With a little prep in advance and taking the time to make sure you are well informed, you can enjoy the process and begin your journey towards homeownership.

The Benefits of Homeownership

Buying a home comes with plenty of benefits, even beyond the joy of avoiding constantly rising rent. One of the best things about owning your own home is that you can make the decisions about how you want your home to look and you don’t have to get permission from a landlord. Not only that, but your home will continue to gain value while you work on paying it off. You can earn equity just by continuing to own the same home. With homeownership, you also gain a sense of security knowing that you have a permanent place to live.

How to Protect Your Investment

When you own a home, you must protect your investment by taking care of regular maintenance. Making sure that you check your HVAC, take care of your roof, and pay attention to water damage so you can fix it early will help you to keep your home in great shape. You can protect your driveway from the elements by sealcoating the surface. Maintenance tasks can get overwhelming, but if you make it a part of your regular schedule, you will be able to take care of problems and keep your house looking great.

You Have Time to Perfect It

When you buy a new house, especially when it isn’t brand new, it can be tempting and overwhelming to take care of every change you want to make at once. Just take a deep breath and remind yourself that you don’t have to take care of everything at once. Instead, make a list of the changes you want to make and arrange them by priority. Painting can be a great first step that will make a big difference but won’t take a major investment of time or money. When you have a plan for updates moving forward, you can relax and take time to enjoy your new home. 

If you are new to the world of homeownership, you have an exciting time ahead of you. Make sure to take the time to enjoy your home and to help it become the place you have always wanted to live.

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Why You Should Always Read the Fine Print When It Comes to Your Money

Why You Should Always Read the Fine Print When It Comes to Your Money

Despite being referred to as the root of all evil, money is also how the world turns and we live our lives. Without it, life becomes far more difficult, which is why it’s so important to make financially sound decisions. Reading the fine print on financial agreements is often tedious, but there are some excellent reasons to do it anyway.

Understand the Risks

Just about everything you do with your money will involve some degree of risk. Whether you’re putting money in savings accounts, investing in the stock market, or making a purchase, the risk is inevitable. To make an informed decision about the risks you’re taking, you need to first understand them. If you don’t find the risks listed in the body of the agreement or contract you’re agreeing to, they’ll probably be in the fine print. Reading through it carefully can help you get a better understanding of what negative outcomes you could potentially face.

Avoid Predatory Institutions

Not all financial institutions have their customers’ best interests at heart. Ultimately, businesses exist to make a profit, and some are more willing than others to do whatever it takes to make it, even if that means it comes at the expense of their customers. Predatory lenders will offer higher than average interest rates. Their agreements may include terms that trap customers into unsuitable loans. Reading through any agreements, including the fine print, can help you identify these types of institutions so you can avoid them and their unsavory lending practices.

Understand Your Responsibilities

The terms and conditions of any agreement involving your money are important to understand. This is often the part that includes information about your responsibilities and penalties you may incur for not holding up your end of the agreement. You should read through the entire agreement carefully, including the fine print. This will help you make sure you have a clear understanding of what your responsibilities are to not void the agreement or incur penalties. Failing to hold up your end because you didn’t read the agreement carefully enough doesn’t mean it isn’t binding.

When it comes to your money, you need to take measures to protect yourself financially. That means reading the fine print. Doing so will help you understand the risks you’re undertaking, avoid predatory institutions, and understand your responsibilities in the agreement. It takes time and effort, but the protection it offers is well worth the trouble.

Read this next: How to Build a Stable Financial Foundation for Your Future

How to Build a Stable Financial Foundation for Your Future

How to Build a Stable Financial Foundation for Your Future

2020 was a killer year when it came to personal finance for many people, and not in a good way. So far, 2021 seems to be carrying on that trend, and with only a glimmer of light at the end of the covid tunnel, it doesn’t look like that’s going to be changing soon. This leaves many people wondering how they could possibly build a stable financial foundation for their future.

Stay Out of Debt

One of the most important things you can do to protect yourself financially and build a stable foundation for future finances is to stay out of debt. This is easier said than done, especially in an economy that makes it so easy to go into debt in the first place. Getting approved for a credit card is far from impossible, even for those who don’t have good credit scores if they’re willing to compromise on their APR. Debt has a solid negative impact on your net worth, so even if it’s tempting, it’s best to avoid it as much as possible.

Own Assets

While debt hurts your net worth, owning assets helps it. It’s important to keep in mind that when it comes to finance, the definition of an asset is something that is producing income, whereas a liability is something that costs you money. Owning assets should help you increase your net worth overall. One of the best ways to build wealth is by owning real estate. You can then rent out the real estate you own and make an income off of the monthly rent paid by your tenants.

Invest

If the recent stock market shenanigans have you worried about investing your money there, it’s understandable. That said, you don’t have to let that discourage you from investing. Investing your money in the stock market can still be a good way to build a stable financial foundation for your future. You just have to be smart about it. Look carefully at the companies you’re considering investing in. What is their history like? Where are they likely to be in years to come? Is it a company you would actually want to have ownership in? The stock market isn’t meant to be a get-rich-quick scheme. It’s meant to build wealth over time by way of dividends or selling shares of stock. The more research you do about where you invest your money, the more likely it is that you’ll make sound investing decisions.

Given the current economic climate, it’s understandable to wonder and worry about how you could possibly build a stable foundation for your financial future. Start by staying out of debt and then build wealth by owning assets and making smart investments. It will take time and effort, but you can build a decent financial future for yourself.

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How to Reduce the Financial Burden Associated with Car Accidents

How to Reduce the Financial Burden Associated with Car Accidents

People don’t typically plan to get into car accidents, but they still happen, often at an alarming rate. Car accidents have a way of throwing multiple wrenches into people’s lives. Many of those wrenches have significant financial burdens that come along with them. They can be incredibly discouraging to deal with, so it’s a good idea to take steps to reduce the financial burden associated with them.

Take a Closer Look At Your Insurance

Do you know exactly what your car insurance covers? How much coverage do you have for medical expenses? What if the other driver doesn’t have insurance? Making sure you have enough insurance coverage can make a huge difference in the financial burden you’ll be facing after a car accident. It’s not uncommon to owe more than your car is worth while paying it off. In this case, having a gap insurance policy can keep you from still having to pay off a loan for a car you no longer have.

Have an Emergency Savings Fund

Even if you have really good insurance, you may still be left to foot the bill for expenses your insurance won’t cover. Emergency savings funds are meant to help you out when you experience emergencies, which a car accident can qualify as. The typical recommendation for emergency savings funds is to save up 3-6 months’ worth of expenses. The average bodily injury claim is about $15,000, but can easily be more, especially if you’re hospitalized. A healthy emergency savings fund may not be enough to cover all the expenses, but it can certainly make them easier to deal with.

Consider Retaining an Attorney

If you have good insurance, it’s likely to cover a lot of the costs associated with the accident. The hope is that any insurance company you deal with is upstanding and will pay out a fair settlement, but that isn’t always the case. If you aren’t sure you’re getting the help you should be, look for a car accident attorney to help you. Do some research so you know what to look for in an attorney. Car accident attorneys often offer free consultations and work on a contingency basis, so if they don’t win your case, you don’t pay them anything. They usually take a percentage of your settlement, leaving you with the rest to cover your financial obligations.

Car accidents are rarely a good thing, but there are things you can do to reduce the financial burden associated with them. Start by taking a closer look at your insurance and make sure you have the coverage you need. If you haven’t built up an emergency savings fund, start now to give yourself a cushion to work with. After the accident, carefully consider retaining an attorney. These actions will help you put yourself in the best position to deal with the financial aftermath of a car accident.

Read this next: How to Reduce Your Monthly Car Expenses

Stuffed Elephant Animal Plush for Baby

Stuffed Elephant Animal Plush for Baby

Stuffed Elephant Animal Plush for Baby comes in gray or pink and make a great craft project for you Cricut enthusiasts. The are quality made stuffed elephants and last and bring smiles. You can give this baby elephant plush as a present such as birthday gifts, baby shower, holidays, birthday announcements, Valentine’s Day, Thanksgiving, Christmas and other special occasions. This elephant plush toy is easy to clean and washable. The size of this elephant plush fits perfect for babies and toddlers and will definitely bring a smile to their face.

Here are the links on Amazon:

Gray Elephant:

Pink Elephant: