Tag Archives: money and life

Relationships 101: Couples That Invest Together Last

Relationships 101: Couples That Invest Together Last

The money talk between couples is sensitive and should be approached carefully; it can make or break a relationship. Dealing with finances before marriage can be easy, but when a partner comes into the picture, some changes will need to take place for you to manage certain investments. After being married for some years, both of you will probably have figured out which credit accounts and expenses to share and those that should remain separate.

Image via Shutterstock by SFIO CRACHO

When it comes to long-term, bigger-picture finance plans for the future, making decisions can be challenging. Some strategies can work well for each individual but become a whole different approach when you are together. Below are a few investment tips that you and your spouse can utilize.

Keep aside savings for retirement

As you start saving for your retirement, talk, and decide on issues concerning retirement with your spouse. They include when you would like to retire, where to travel, where to live, and if you will need to start a business so that you can be on the same page. The recommended amount of investment is 15% of your total income once you clear your debt and have a fully backed emergency fund.

Weigh different investment options

Make use of accounts like a Roth IRA and your work 401(k) that offer various tax advantages. While you can combine finances and open joint bank accounts once you’re married, you can’t open a joint IRA or 401(k); they are only for individuals. Currently, taxable joined investment accounts are available. However, only invest in them once you max out tax-advantaged accounts.

If you have a spouse that stays at home while you work, you can still save with a spousal IRA. They have the same income and contribution limits as other IRAs, but to save with it, you must file a joint tax return.

Choose an ideal healthcare plan

Health insurance is one of the most expensive household expenses. If you both have access to health insurance provided at your workplace, you can decide whether to double up under one spouse or have individual plans. You can move the entire household into a family plan or cover your children under one parent. Where one partner has strong coverage in areas like vision, and dental plans, consider the size of out-of-pocket and deductible maximums.

Consider how often you and your household seek treatment, and look for benefits in healthcare niches such as mental health care, special needs therapies, and fertility treatments. Also, include your preferred doctors in your plan.

Get life insurance to protect your loved ones

If you have a family that depends on you, life insurance will protect them in case anything happens to you. As much as you are saving for retirement, life insurance will give you and your family some peace of mind. You can both get a policy of about 15 to 20 years, worth ten to twelve times your yearly income. Once your life insurance term is over, you will be self-insured with your retirement savings.

Plan before Investing in a family home

Purchasing a home is one of the crucial steps you and your spouse will take. Before you start going over real-estate websites and organizing a list of things you’d like for your house, ask yourself the following questions.

  • Why purchase a house now? Consider if you need to buy one because you need a bigger home for your family if you want to stop renting, move to a better neighborhood, or if new constructions are coming up that you would like to invest in.
  • How much can you afford? Agree on a budget that is affordable to avoid future disagreements over excess budget costs. Visit MortgageCalculator.Org to estimate your monthly payments and figure out the amount you can qualify for.
  • How is your credit score? Request for both of your credit reports and go over them carefully. If there are any errors, you can have them fixed on time to avoid delay in mortgage approval for your dream home.

Hire an investment professional

To achieve your investment goals, hire a professional who will guide you. Poor investment decisions can cause major setbacks, financial mistakes, frustration, and tension between couples. Professionals will analyze your investment options and see you through all the processes making your work easy and more successful.

Bottom Line

To create lasting fulfillment in life and love, you need to discuss as a couple your investment options to secure your future. Save for retirement, understand the available investment options, and choose those that are favorable. Also, get life insurance, choose an ideal healthcare plan for you and your family, plan for your dream home, and hire a professional to guide you.

Tia, and TipsfromTia.com  is trying to keep you looking good and
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Transforming Your Financial Health In Just 5 Easy Steps

Transforming Your Financial Health In Just 5 Easy Steps

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Want to improve your financial health? Of course you do, and it can be a lot easier than you probably imagine. As long as you know how…

Here are five easy steps that can generate significant upgrades to your immediate and long-term financial health. Here’s everything you need to know.

#1. Stop Hoarding

First and foremost, you should learn to appreciate the fact that you’ve probably got money sitting around the home. Check out the going rate junk cars fetch, and you’ll think twice about the vehicle sat in your front yard. Likewise, old electronics, clothes, and furniture are all worth money. It’s not uncommon for households to be sitting on a four-figure sum in unused goods. So, if you’re looking for a quick and easy way to generate extra funds, this is the perfect solution. 

#2. Focus On Home Savings

As far as ongoing savings are concerned, your home holds the key to success. Whether it’s saving money on appliances or learning to repair furniture rather than replace it is up to you. Either way, the savings that can be made around property are very significant. Even monthly savings made from changing subscription services can soon add up over the course of a year. While this has always been the best place for implementing change, we now spent more time at home than ever before. Embrace it.

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#3. Invest In Your Credit Score

Financial health isn’t solely about the money sitting in your account. Long-term stability is an equally essential feature, which is why your credit history is so vital. A healthier credit score will unlock new borrowing opportunities and better interest rates. You can check your free annual credit report to gain valuable insight. Use the insight to build a better credit score over the months to come. When you do, the benefits will be clear, even when you do not need to borrow. If nothing else, it brings peace of mind.

#4. Grow Your Retirement Savings

Sticking money in a 401(K) is great. When retirement arrives, though, you’ll probably require a much bigger pot of money. Therefore, investing some money in a diverse portfolio of stocks, crypto, and commodities will serve you well. You only need some of the investments to pay off for a long-term reward. For some investors, the best option is to build a property portfolio. Not least because you can leverage success from borrow money. Either way, though, securing your future is vital.

#5. Learn To Say No

Bad habits are costing you dearly. While there’s nothing wrong with enjoying life, a little responsibility goes a long way. Learning to say no to lending friends money could make a huge difference. Likewise, quitting bad habits that do not actually enhance your life will improve your health and wealth. Sometimes in life, avoiding negatives is as important as investing in positives. Financial habits are among the clearest examples. Now is the time to make it happen.

Give it a few months, and you’ll see big changes.

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

You secretly spend over a million dollars on your car!

You secretly spend over a million dollars on your car!

Everyone is always angling to save more money since we all know it matters a lot. One thing we often don’t think about is how expensive cars are. I know they cost a lot of money, but when you add everything up it’s incredible! Each car you buy is practically a downpayment on a house, and it ends up in the scrap heap before too long! Mix in most families having two cars and replacing them every 10 years and you get some big bills. Maybe when people talk about downsizing their homes they should really be talking about downsizing their cars first!

Infographic source: https://fiveyearfireescape.com/how-much-car-can-i-afford/

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

The 3 best tricks to make a little extra money today

The 3 best tricks to make a little extra money today 

If you ever look up how to make extra money there are a lot of options people will put in front of you. Like starting a website or doing online surveys. But, did you know the 3 most lucrative money-making opportunities are sitting right in front of you, and accessible to everyone? This infographic points out how with very little effort you can make a pile of money by selling your things, negotiating or cancelling some services you forgot about, or how you should get a salary survey to try to boost your income. Really these things are so easy we should all hop on them right now!

 Infographic source: https://fiveyearfireescape.com/make-money-fast/

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

So that’s what $1,000,000 looks like

So that’s what $1,000,000 looks like

With all this recession and Covid talk going around there are some huge numbers being used and it desensitizes you to how much money that really is. This many millions of dollars being lost. That many billions being spent. Well, I found this infographic to be a fun way to put it all back into perspective. One million dollars isn’t really a huge amount of money for the government, and it can even fit in a briefcase like in the movies. If you put it in real items though it really adds up. This guy uses burritos!

 Infographic source: https://fiveyearfireescape.com/what-does-one-million-dollars-look-like/

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

Everyday folks can save big by making simple changes

Everyday folks can save big by making simple changes

Saving money is a big topic and everyone knows it’s important. The problem is there are hundreds of different ways to save. Couponing, growing your own vegetables, being cheap and the list goes on. The number of options out there can drive you a little crazy. Luckily, I found this infographic that lists out how much money you can save as an hourly rate! It really puts things in perspective and shows you where to focus your saving efforts. Who knew 3 hours could save me so much money!

Infographic source: https://fiveyearfireescape.com/how-to-save-money/

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

Smart Ways to Make Money with Your Car

Smart Ways to Make Money with Your Car

If you’re looking for ways to make money, having some kind of asset that you can use can be very useful. You can have various options for making use of that asset, whether it’s investing your money or finding ways to make money from your home. Anyone who has a vehicle can also bring in an extra income in a few different ways. You can consider a range of options that allow you to make money with your car by driving people or things around, using your car as advertising, and more. Take a look at the following options to see how you can make money with your vehicle.

Be a Moving Advertisement

If you don’t mind what your vehicle looks like, being a moving advertisement could be a great way to make money. Brands want to use your car to wrap it in their branding so that as you drive around, people will see their brand. You can choose which brands you’re comfortable advertising and choose how long you want the branding. When you want to take it off or remove it, usually when the campaign is over after a few months, just find out how to remove vehicle wrap. You can often do it yourself if you’re willing to spend the time doing it. It’s also possible to get professional help if you need it.

PC: Mike Birdy

Drive People Around

Do you like people? If you’re up for having a chat as you drive people around, or leaving them alone if they prefer, your car could be great for this. One of the options is to sign up for one of the providers, such as Uber. Another possibility is using a rideshare service, which makes it possible to share your commute or a trip you have planned. Before you do any of these things, it’s a good idea to check any requirements for insurance, taxes, or anything else it could affect.

Become a Courier

If driving people around isn’t for you, driving stuff around might be preferable. Being a courier can help you make a bit of cash, or it could be a full-time job if you want it to be. However, many people prefer it as a way to make a little extra money, as it can be a struggle to make enough when doing it full-time. There are various courier services that you might choose to work with, which can provide you with packages to deliver.

Rent Out Your Car

Some people don’t use their cars very often. If that includes you, you could consider hiring out your car to make some money. Before doing this, it might be a good idea to check with your insurance company to be sure that it’s not going to invalidate your insurance. If you’re good to go, you could make some extra money on the side. That is if you trust other people with your car.

Your car could be a moneymaker if you’re willing to use it in a few different ways. Find a way that works for you.

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

It’s Time To Stop Wasting Your Money

It’s Time To Stop Wasting Your Money

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As a general rule, people try to be pretty sensible with their money. In today’s economy, money isn’t the kind of thing that any of us can afford to throw around. Unless you’re in a very privileged position, your money is something that you’ll want to take good care of and not waste. That being said, there are always ways in which you might not be handling your money quite as well as you would like. Of course, this definitely applies to some places far more than others. With that in mind, here are some of the most common places where you might be spending more money that you want to be.

Your home

Your home is likely to be the most expensive thing that you own. Which makes it all the more important that you do your best to bring the cost of running your home down. Luckily, there are plenty of ways you can do just that. If something goes wrong with one of your appliances then contacting someone like Appliance Repair Whirlpool to get it fixed instead of replacing it is going to be a far cheaper option. Not only that but simple things like reducing your energy usage is a great way to bring your regular bills way down.

Entertainment

Most of us use many of the stellar, and fairly cheap, streaming services that are currently available like Netflix. These services are fantastic as they allow you to pick from a huge library of titles, both old and new. That makes it that much more ridiculous that so many people still pay for standard television. A lot of streaming services are available for specific TV channels to catch up on stuff you’ve missed anyway so there is no reason to bother with standard television anymore. Do you really want to shell out extra money just so you have to TV on a fixed schedule instead of whenever you want?

Transport

When trying to find the right car, it’s shocking how many people tend to ignore the mileage that they can get out of it. Of course, there are plenty of important factors when choosing a car, but you really don’t want to neglect the average miles-per-gallon. It might not seem like something especially important, but that cost will start to add up over time. If you’re not in a position to switch to a more economical car right now, consider carpooling to work. By doing that you can split transport costs down the middle, saving you a lot of money.

The reality is that spending money we don’t want is just an inevitable part of living in the modern world. The key is to make sure that you put as much effort into taking the best car possible of your finances so that you don’t wind up in trouble. Simple things like reducing your spending and giving yourself a safety net by putting money in a savings account can make a huge difference and let you get on with your life.

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

What Are The Best Short-Term Borrowing Options?

What Are The Best Short-Term Borrowing Options?

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We all know what it’s like to be stuck in a tough situation financially. Even if you are someone who is extremely careful with their finances, it can be relatively easy for the wrong thing to happen, and before you know it you are in real trouble. Financial concerns like this are enough to worry anyone, but it is good to know that there are at least ways out which you can take advantage of. If you are in a tough financial position, then you will want to have a variety of possible options to choose from, so as to get out of that place as quickly as possible. The good news there is that there are many decent short-term borrowing options which can help you out. In this article, we are going to discuss which are the best, so that you can make a more informed decision if you are ever in such an unfortunate situation yourself.

Overdrafts

When it comes to short-term borrowing, the overdraft has always been one of the best options. There are a number of advantages to the overdraft. To begin with, it offers a low interest rate most of the time, meaning that you won’t be paying back any more than necessary. It is also true that overdrafts tend to be relatively straightforward to secure – and that can be a real blessing for someone who is in deep financial trouble. What’s more, when you apply for bank overdraft, it is likely to affect your credit rating much less than many of the other borrowing options that are out there. You also have the ability to pay back an overdraft over a much longer time, without necessarily paying too much.

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Credit Card

If you do not have a credit card, then getting one while you are in financial trouble is not the best idea. However, if you already have one, it can be a useful short-term solution to a sticky situation. So long as you only use it to borrow an amount you can definitely repay, and in good time, it can be one of the easiest and best solutions of all. Just be careful that you don’t get carried away with it, as this could quickly land you in even deeper trouble than you were already in.

Interest-Free Loans

Next we come to one of the best possible short-term borrowing options. There are actually many interest-free short-term loans out there, which are well worth considering if you are having difficulty getting through the month financially. While you want to avoid payday loans as much as possible, these loans are much more financially viable, and could end up saving your skin if you go about it in the right way. There are many ways that you can go about getting an interest-free loan, so this is well worth considering if you are struggling. If you do go down this route, remember to be careful and take it slowly, otherwise you might end up borrowing too much, or at a higher than zero rate.

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Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.