Buying your first home is a momentous occasion, but it can also be an exceptionally daunting process. Fortunately, before you purchase your home, there are some steps that you can take to make things go a little more smoothly. 1. Check Your Credit Report Whether… Read More

It’s always hard to put money away, specially for something “boring” as retirement. This is how I used to think about it in my 20’s and wish I would’ve paid more attention, or someone would’ve led me in a different path. As I grew older,… Read More

It’s amazing how little details do count, specially when you own a house. These little things sum up at the end of the month and the year, and will eventually make you save a lot of money if done right. These are savings that can… Read More

IRA accounts are confusing and unfortunately, not many colleges or workplaces offer the education needed to understand them fully. As valuable as these accounts can be to saving for retirement, though, it is crucial to familiarize yourself with them and how they can benefit you…. Read More

Top Crousel Headlines

5 Tips On How To Save For Retirement

It’s always hard to put money away, specially for something “boring” as retirement.

This is how I used to think about it in my 20’s and wish I would’ve paid more attention, or someone would’ve led me in a different path.

As I grew older, I understood the power of compound savings.

Here are 5 suggestions on how to start maximizing your savings, and putting money aside for your retirement.

1. Minimum of 5% of Your Monthly Paycheck

Set up a recurring deposit to an investment portfolio such as Vanguard, or services such as Wealthfront or Betterment, so that once a month they will automatically deduct from your bank at least 5% of your monthly earnings.

With an average rate of return per year of 8%, an insignificant amount can quickly pile up, in months, years, decades, and it will be snowballing into a small fortune that you will enjoy in your older days.

If you only put aside, let’s say $250/month, that is $3,000 per year. However that sums accumulates and is constantly being re-invested. That is where the real power of compound investing lies.

2. Drop Your Vices, and Save It Instead

Easier said, than done, but that daily cup of coffee can become costly if you have it every day, all year long. That could amount to thousands per year. And again, read point 1 above, better invested than sipped.

3. Don’t Spend On Useless Things That Will Devaluate

Cars or boats are some of the worst investments you can ever make. They are immediately costing you and bleeding you money the moment you buy them. And, they devaluate in pricing.

Instead, if you do have the money to spare, think about investing in real estate, stocks, or businesses you believe in – – always be looking for the upside potential.

4. Make Better Financial Decisions

There are things that you do need to look for the best, and don’t worry about how much it costs. An example is a good Tax Expert.

The moment you start working with a great Tax Advisor, his or her fees will cost you more, but he or she will end up saving you a LOT more. And, they will probably help organize your finances much better.

 

Things Homeowners Must Do To Save in 2017

It’s amazing how little details do count, specially when you own a house.

These little things sum up at the end of the month and the year, and will eventually make you save a lot of money if done right. These are savings that can be allocated to a family vacation, home repairs or furnishings, you name it.

Here they are.

1. Fix Or Change Your Shower Head

We all love taking nice long showers. High flow, high pressure shower heads will make the average 10 minute shower spend up to 5 times more water than a low pressure shower head. If you have an average sized family – you must then multiply that number by 4. That is a lot of water you could be saving!

2. Ceiling Fans

In addition to giving out a nice, cool breeze, ceiling fans will help you reduce your electric bill tremendously. One of the biggest energy spenders is your AC system. If you can feel refreshed by turning on your ceiling fans instead of your AC, you can start seeing hundred of dollars in savings a month.

3. Cover Areas That Receive A Lot Of Sun

Sun is nice. Nothing better than a lot of natural light coming in. However, too much sun can be too bright for most people, specially during the warmest months of summer. Also, guess what….too much sun will unnecessarily heat up your house, making your AC work overtime, and jacking up your energy bill. Instead, find out which ares in your house could use a little sun blocking, and install curtains, or outside awnings or tapestries. It will make your house look elegant, and will make you smile as you open up your next electric bill.

4. Change Your Air Conditioning’s Air Filters Every 6 Months

If you don’t change your air filters every six months, your HVAC system will tend to clog up, and will make it go on overdrive and consume more energy. In addition, it will start releasing unwanted smells from your vents.

5. Put Out A Clothing Line In The Patio

European countries still hang out their laundry in clothing lines, so why can’t we? Do you know how much electricity your dryer consumes? Specially during the summer, when drying clothes in the bright sun only takes about an hour or so, you should definitely consider start doing this.

6. Repair Leaks in Windows

Inspect any leaks in your windows, and easily repair them so that they are air tight. Both heating and cooling escape easily thru leaks, increasing your energy bill.

7. Insulate your attic

Most houses have an attic – and in most cases – the attic has holes, either in the roof or in the walls. Hiring an insulation company or doing it yourself is not that expensive, and will pay for itself once you start seeing those savings show up in your energy bill.