Save more, spend smarter, and make your money go further
For some consumers, treating Spot and Fluffy as members of the family extends to their diet. After all, if everyone else is getting homemade meals with organic ingredients, why shouldn’t they? It might be healthier than commercial foods — and cheaper, too.
Consumers have become more interested in preparing their own pet foods in recent years, due to both pet food recall scares and a human-diet emphasis on knowing what’s in the foods we eat, says Dr. Jules Benson, the vice president of veterinary services for pet insurance carrier Petplan. There are some economic interests, too, depending on what you currently feed your pet. A balanced, home-cooked diet for a 30-pound dog would cost $3.52 per day; $5.58 if you go organic. That’s two to four times the price of commercial dry dog foods of similar qualities, he says, but up to half the cost of commercial wet foods.
But making the switch isn’t as simple as dishing up a portion of the Sunday-dinner roast for your pet. “There is science behind what your pet needs,” says Dr. Benson. “These diets should be developed for your pet individually.” Home-prepared pet meals aren’t a good solution, or a safe one, for every family.
That means before you give homemade food a try as a significant part of your pet’s diet — and this step is vital — TALK TO YOUR VETERINARIAN. Don’t just go in and ask, “Is this a good idea?” either. Research some of the options, present what you’d like to do, and get their take on what works and doesn’t for your pet’s general health and any medical conditions. You might also seek a consultation with a veterinary nutritionist. (The American Academy of Veterinary Nutrition and the American College of Veterinary Nutrition both recommend PetDiets.com and Balanceit.com as resources.)
Try these other tips to delve into cooking for your pet:
Cook for yourself
“Every Day with Rachel Ray” magazine runs a regular feature of recipes that both you and your dog can enjoy. Personal chef Lindsay Nixon uses lentils as the protein base for her dogs, and mixes in leftover vegetables, potatoes and brown rice from her own meals as well as a pet vitamin supplement. (The combo, she says, has cut her pet food bill from $25 per month for dry kibble to just $10.)
Keep it healthy
Not all foods people eat are good for dogs and cats, Dr. Benson warns. “Don’t feed them hot dogs, or anything we would consider junk food,” he says. “Just because dogs will eat it doesn’t mean it’s good for them.” Low-fat, lean cuts trump fatty bits, which are more likely to cause gastrointestinal problems. But good-for-us foods aren’t always good for them, either. Foods like grapes and onions should never be given to your pet, he says. (Check the ASPCA’s people food list of things that may be toxic, or cause some digestive issues.)
Use a homemade food as a topper
There’s no need to make all your pet’s food to see some savings or health benefits. You could scale back the amount of commercially prepared food you serve, and either top it with a homemade mix, or blend one in. Jenna Dreher, the chief executive of pet-care company Pet It Forward, tops her Great Dane Casper’s food with a soft mix of simmered sweet potatoes, carrots and apples, seasoned with a dash of cinnamon.
Outsource preparation
If you want to try these kinds of diets but don’t have the time to spend in the kitchen or are worried about getting the right balance of necessary foods, check out premade raw pet food like Primal Pet Foods, Nature’s Variety, and The Honest Kitchen. It’s not a money-saver, however: ThatMutt.com blogger Lindsay Stordahl’s looked at the options for Ace, her 67-pound black lab mix, and found that premade food came out to be $83 to $115 more expensive per month than versions she could make at home. “So far I haven’t done that because of the time commitment,” Stordahl says. “I can barely find time to shop for my own food.”
Seek out supplements
It’s not enough to give your dog or cat some chicken and rice every night, Dr. Benson says. You’ll need extra vitamins, which might be achieved through mixing in different vegetables and grains, a powdered pet-food supplement or other add-ins (like, oddly, human Tums) recommended by your vet. These add just a few cents to the bill, but many — like taurine powder for homemade cat foods — are essential, he says.
Make treats
They’re a good entry point into homemade foods. Dreher makes these yogurt, apple and oatmeal treats for Casper: Mix two and 1/3 cups oatmeal, one cup French vanilla yogurt and two-thirds of a cup of apple sauce together in 1 bowl. Another of Casper’s favorite treats mixes two and 1/3 cups oatmeal, two mashed ripe bananas, one cup peanut butter and a half-cup chopped peanuts. For either recipe, spoon batter onto cooking sheet, keeping each drop the size of a bottle cap — an optimal treat size. Cook at 375 for 12-15 minutes.
Frugal Foodie is a journalist based in New York City who spends her days writing about personal finance and obsessing about what she’ll have for dinner. Chat with her on Twitter through @MintFoodie.
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All right, let’s get this out of the way, right up front.
Dining alone in a restaurant is neither a shameful thing nor an experience to avoid.
Maybe you’ve had an experience like Jason Segel in “Forgetting Sarah Marshall.” Sometimes a server does make a fuss, but, really, most are happy you’re there — if you are happy to be there, yourself.
There’s an art to the solo dine. In the right frame of mind and with reasonable expectations, a solo diner can have a delicious experience.
It helps if you like to eat, of course.
These tidbits should help the reluctant learn from my own mistakes. Know thyself, dear diner, and feel free to enjoy a great meal, regardless of situational solitude!
[find-an-apartment]
Solo Dining 101 Ok, so the moment finds you hungry, sans social engagement. What to do?
Let’s start with a basic tenet: you’ve got to dispel any insecurity you might have about your right to eat alone.
American culture is a little crazy about food. As a result of what we’ve been taught, some of us feel self-conscious about enjoying eating, especially in public. But the fact is, we’ve all done it.
Confidence is key, here. If you find yourself wondering whether others in a restaurant are looking at you or judging your presence, remember they’re really more interested in the cannelloni.
Location, location, loca… Where you choose to sit in a restaurant has perhaps the greatest impact on whether you’ll enjoy your solo dining experience.
It’s up to you to share your seating preference: want to be situated in eaves-dropping distance of an interesting-looking group of folks? Prefer to pass the time in a more secluded area? Unless the joint is really jumping, any friendly establishment should be happy to accommodate your pleasant request.
Read the restaurant Ah, this is important. I like to know a little bit about a place before I go there, just so there are no unpleasant surprises.
When you know the details – like how much the food costs, or that there will likely be patrons dressed to the nines – you can adjust your expectations. I’m not saying you should feel compelled to conform, but know the general guidelines. The point of the solo dine is for you to enjoy yourself.
Your meal on mobile (or, the smartphone connection) Here’s a call: to eat while connected, or no?
A meal alone certainly gives you a chance to catch up on emails, fave websites, and memes you’ve yet to have the time to embrace. Or you might want to cherish a few moments to yourself, entirely disconnected from the grind.
When I’m feeling digitally social in these situations, I like to philosophize by text with a friend who likely won’t respond right away. (Do you have those, too?) I might describe the scene, the people, the food. It’s sort of like talking to myself in the presence of another, online. I’ll hear what my friend has to say later, but, for now, I just want to put my impressions out there — and I want to enjoy the food.
What if you want to be social? Just because you arrive alone to a hip eatery doesn’t necessarily mean you wish to stay that way. Again, it’s up to you to signal your intentions.
Your body language tells the tale about whether you want to engage with other diners. A seat taken at the bar is a reasonable give-away, too.
The Staff and the Solo Diner Servers are generally friendly to those dining alone; ones who are frustrated about the desire for a larger table (and tip) really only spite themselves, if they take these feelings out on the solo diner. I choose to be super-nice to servers, but I tip based on the bill and the quality of service received — generally no more merely because I happen to be eating alone.
Enjoying a food scene with friends is one of the great pleasures in life, but there’s no rule that says it’s the only way to experience a restaurant. Go ahead, muster up your courage: “table for one, please.”
This is a guest post from freelance writer Jessica Ward.
For three years, I’ve been patting myself on the back. The household expenses remain the same every month, and we’re getting out of debt. In spite of increases in costs, we’ve found efficiencies and made room. But, as they say, after pride comes the fall. I discovered this month that we’re actually making less progress every month now than when we first started making monthly budgets!
Initially I thought this was a short-term trend, but when I looked back a little farther in the old budgets file, I discovered that we’ve really been on this path since day one. We have succumbed to “lifestyle creep.” Subtle upticks in our family’s expenses that don’t necessarily fall into line with real costs of living.
Slowly and stealthily, our lifestyle has edged back up. An extra meal out here, a technology upgrade there, all unnoticed because we haven’t spent beyond our planned expense cap, but unchecked because we didn’t notice that we had slowed progress towards our goals.
Identifying Your Budget “Creepers”
We use a zero-based budget. Money in equals money out, every month. Sure it might go “out” into a savings account or towards debt, but the checking account ideally zeros out every month. I neglected the second step of allocating everything. By way of example, here are some expenses that crept up on us this year, virtually unnoticed:
Family gym membership, $1,200 year. (We did elect to keep it for 2012, but are making other cuts to accommodate.)
Data plan on my husband’s phone (he doesn’t even know how to text). We cut this in July, but not after spending $240 for the year on unnecessary data charges.
A digital camera upgrade (rationalized with the old “it’s a business write-off” excuse) at $400.
An average of $200 per month additional eating out expenses, or $2,400.
An average of an additional $200 per month in charitable expenses, or $2,400 a year.
All told, we experienced an increase in lifestyle (and decrease in goal progress) of nearly $7,000. Had we minded our budget better, we’d be out of debt by now. That’s embarrassing.
Other people will have other areas of budget creep. Fancy coffee, storage unit, unnecessary gadget upgrades. Little upgrades like premium cable can be adding hundreds to your household expenses every year.
How to Creep-Proof Your Budget
If you’re feeling the budget creep, take the following steps to get back on track.
Set your budget, including all expenses, by prioritizing your household bills and financial goals, treating them just like a bill.
Revisit your budget and revise based on actual changes in costs. While our spending remained fixed, some expenses (fuel, food, and homeowner’s association dues) went up, and we sacrificed about $200 per month towards financial goals by not revising our spending (and income) expectations upwards or another area of the budget downwards (without sacrificing your progress to goals). When costs go up, it’s time to ramp up the “side hustle” income.
Maintain your diligence about buying bargains. Have you relaxed your efforts at coupons, sales, used/consignment, bargaining or trading? Have you even stopped price-comparing? Just because it’s in the budget, doesn’t mean you shouldn’t try to get a better deal.
Have old habits crept back? Extravagant gifts, daily lattes, extra vacations, and weekend getaways, or just too much eating out? Many of us have old financial habits that break our budgets. Keep a wary eye out for them.
Please, tell me I’m not alone in this budget faux pas? Has your budget suffered from creep?
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Do you want to make your money work for you?
I know what you’re thinking—money doesn’t grow on trees.
It takes money to make money.
That is a true case, but it doesn’t mean you have to be a millionaire to start. You can invest $100 to make $1000.
But there are a few things that will help any of us start seeing some green: time, patience, and perseverance.
We all know that money is a powerful tool. It helps us get what we want, live the way we want to, and achieve our goals. But how do you make your money work for you?
If you’re new to financial success or are looking for some fresh ideas on increasing your wealth, then you are in the right place!
That’s where this post comes in! In it, we delve into the five best ways to grow your wealth and show you how they work.
How can you make your money work for you?
There are many ways to grow your wealth. You can invest in stocks, bonds, and other securities. You can also start your own business or invest in real estate. Whatever you choose to do, make sure you are diversified and have a plan.
Making your money work for you is all about creating passive income streams.
This means finding ways to make money without having to actively work for it. Some examples include investing in stocks, real estate, and businesses.
How to Make Your Money Work for You: The [Best Ways] to Grow Your Wealth.
Your money is a powerful tool that can help you save, invest and grow your wealth, but only when you know the ways to make it work for you.
This is something that many people don’t learn and don’t invest the time to understand.
The best way to grow wealth is by taking your time and doing the research necessary for you to understand what it takes. You have to know how much money you need, where it will come from, and how you will invest it.
#1 – Create Financial Goals
It’s important to have specific financial goals because they give you something to work towards and help keep you motivated. Having specific goals also makes it easier to measure your progress and see how far you’ve come.
To create specific financial goals, start by thinking about what you want to achieve.
Do you want to save for a down payment on a house?
Are you looking to pay off debt?
Looking to increase your saving percentage?
Or do you want to retire early?
Once you know what your goal is, break it down into smaller steps that you can take to get there. For example, if your goal is to save for a down payment on a house, your first step might be saving $2000 for a down payment fund. Then, once you have that saved up, your next step might be saving $1,000 for the down payment fund.
Keep breaking your goal down into smaller and smaller steps until it feels achievable.
When setting financial goals, avoid setting goals that are too vague or unrealistic. For example, don’t set a goal of “saving money” without specifying an amount or timeline. Also, avoid setting goals that are so small they’re not worth achieving (like saving $5 over the course of a year).
#2 – Develop Passive Income Streams
Passive income is a type of earnings that does not require active work to generate. This can include earnings from investments, rental properties, and other business ventures in which you are not actively involved.
There are several different types of passive income:
Interest and dividends from investments: This can include earnings from stocks, bonds, and other investment vehicles.
Rental income: This can come from renting out a property you own, such as an apartment or vacation home.
Business income: This can come from owning a business in which you are not actively involved in the day-to-day operations. For example, you could own a franchise or be a money-only investor.
Royalty payments: These are payments made to you for the use of your intellectual property, such as patents, copyrights, or trademarks, a book, or a song.
Other types of passive income include blog or affiliate revenue. For example, if you have a blog and it generates ad revenue or affiliate income from referrals to third-party products, that would be considered passive income.
Passive income is money you earn without having to work directly for it. It can come from any number of sources. Remember, passive income is different than active income, which is money you earn through a job or business ownership.
In fact, most millionaires have at least 3 passive income streams (source).
Passive income is the Holy Grail for online marketers. It’s automatic. Effortless. But, not at first. In the beginning, it’s grueling. I liken this to doing the most amount of work for the least initial return. However, over time as your passive income begins to increase, your reliance on an active income plummets.
That’s when the real magic starts to happen.
#3 – Plan for Each Dollar
The first step to making your money work for you is creating a budget. This will help you track your income and expenses so you can see where your money is going. You can use a budgeting app or spreadsheet to do this.
When it comes to managing your finances, it’s important to have a plan for each dollar that comes in. You should make conscious choices about where to spend your money and what type of accounts to use.
Your highest priorities should be determined by what is most important to you.
It is also important to remember that every penny counts- so use your money wisely!
#4 Pay Yourself First
One of the best ways to grow your wealth is to save first. This means putting away money into savings or investments before you spend it. This will help you reach your financial goals more quickly.
When you get paid, make sure to put some money into savings or investments before spending it. This way, you are prioritizing your own financial well-being.
Automating your finances is a great way to make sure your bills first are always paid on time and that you are saving regularly. You can set up automatic transfers from your checking account to savings or investment accounts
#5 – Get Out of Debt
Debt can be a major financial burden, preventing you from achieving your financial goals. It’s important to get out of debt as soon as possible so that you can free up your money to save and invest for the future.
In fact, this is one of the first steps we stress here at Money Bliss – pay off debt!
There are a few different ways to get out of debt. You can try negotiating with your creditors, consolidating your debts, or making more money to pay off your debts faster. Whatever method you choose, make sure you have a plan and stick to it.
There are a few things you should avoid when trying to get out of debt.
First, don’t miss any payments or make late payments, as this will damage your credit score.
Second, don’t use credit cards while you’re trying to pay off debt, as this will only add to your balance.
Finally, don’t take on any new debts while you’re trying to get out of debt – focus on paying off the debts you already have first.
#6 – Start an online business
This can be a great way to create passive income and build wealth over time. There are many different types of online businesses that you can start, so do your research and find the one that is best suited for you.
Starting an online business is a great way to make some extra money on the side. It can be done relatively easily and doesn’t require much upfront work. Once you have the foundation in place, it’s easy to start generating income without any additional effort.
In fact, learning how to make money online for beginners is a hot topic!
The internet provides a unique opportunity to start and grow an online business. With the right tools, you can use the internet to your advantage and build a successful business.
#7 – Invest in the stock market
There are many ways to invest in the stock market, but the most common is through buying and selling shares on a stock exchange. You can also invest in mutual funds, which pool money from many different investors and then invests it in a portfolio of stocks or other securities. Another way to invest is through exchange-traded funds (ETFs), which are similar to mutual funds but trade like stocks on an exchange.
Before you start investing in the stock market, there are a few things you should consider.
First, you need to decide what your investment goals are. Are you looking to grow your wealth over time, or do you need access to your money quickly?
Second, you need to understand the risks involved with investing in the stock market. While there’s always the potential for making money, there’s also the potential for losing money.
Finally, you need to research different investments and choose one that fits your goals and risk tolerance.
Investing in the stock market comes with a number of risks, including the potential for losing money. While there’s always the potential for making money, there’s also the potential for losing money. Before you invest, you should understand the risks involved and make sure you’re comfortable with them.
#8 – Automate your finances
Automating your finances means setting up automatic payments for your bills and other regular expenses. This can help you to stay on top of your finances and avoid late payments or overdraft fees.
There are a few different ways that you can automate your finances. You can set up automatic payments through your bank or credit card company. Alternatively, you can use a service like Quicken to track your spending and create a budget.
Automating your finances can save you time and money. It can help you to stay on top of your bills and avoid late fees or overdraft charges. Additionally, it can free up more of your time so that you can focus on other aspects of life.
#9 – Habit of Automatic Savings
Automatic savings works similarly to automating your finances, but instead of paying bills, money is automatically transferred into a savings account each month. This can help you build up your savings without having to think about it.
With automatic savings, you can grow your savings without extra work; however, if you need access to the money in your savings account quickly, it may take a few days for the funds to transfer back into your checking account.
Challenge yourself to save more than the average 5% personal saving rate.
Overall, automating your finances can be a great way to stay on top of your bills and save money. Just be sure to consider the pros and cons of each method before you decide which one is right for you.
#10 – Use a Rewards Credit Card and Pay It Off Each Month
When you use a rewards credit card, you earn points for every purchase you make. These points can be redeemed for cash back, merchandise, travel, or other perks. Some cards also offer bonus points for spending in certain categories, such as gas or groceries.
To get the most value from your rewards card, it’s important to pay off your balance in full each month. This way, you’ll avoid paying interest on your purchases and will actually save money by earning rewards.
This is something we do on a regular basis and helps us to pay for our travel.
There are both pros and cons to using a rewards credit card. On the plus side, you can earn valuable rewards just by making everyday purchases. And if you pay off your balance in full each month, you’ll avoid paying interest and will actually save money.
On the downside, if you carry a balance on your card from month to month, the interest charges will outweigh any benefits you earn from the rewards program. Additionally, some cards have annual fees that can offset any savings you might accrue from using the card.
#11 – Learning How to Budget
A budget is an estimation of revenue and expenses over a specified future period of time. A budget is often created annually, but may also be created more or less frequently like biweekly or by paycheck.
Budgeting is important because it allows you to track your income and expenses so that you can make informed financial decisions. It also enables you to save money by identifying areas where you can cut back on spending.
Simple Budgeting tips:
Make sure your income and expenses are realistic
Track your progress over time
Don’t be afraid to adjust your budget as needed
Keep your long-term financial goals in mind
Budgeting shouldn’t feel constricting – just that you are able to do what you want to do.
#12 – Save Your Money
Saving money is a key component of building wealth. You need to have money saved in order to invest, and you need to be investing in order to grow your wealth. There are a few different ways that you can save money.
One way to save money is to create a budget and stick to it. This will help you track your spending and make sure that you are not spending more than you can afford.
Another way to save money is to make sure that you are taking advantage of all of the tax breaks that are available to you. This can help you keep more of your hard-earned money in your pocket.
Finally, another way to save money is by automating your savings so that you do not have to think about it every month.
Try to save your money wherever you can, even if it is a small amount. Every little bit counts in the long run!
#13 – Now, Invest Your Money
Investing your money is one of the best ways to grow your wealth over time.
When you invest, you are essentially putting your money into something that has the potential to grow over time. This can be done through stocks, bonds, mutual funds, real estate, and other investments.
The key is finding an investment that has the potential for growth and then holding onto it for the long haul.
Especially learn how to flip money!
#14 – Put Money away for retirement
How much you need to save for retirement depends on a number of factors, including how long you expect to live and what kind of lifestyle you want in retirement.
A general rule of thumb is that you’ll need 70% to 80% of your pre-retirement income to maintain your standard of living in retirement.
There are a number of different options for where to save for retirement, including 401(k)s, IRAs, and annuities. Each has its own set of benefits and drawbacks, so it’s important to do your research before choosing one.
The main benefit of saving for retirement is that it gives you a nest egg to help cover expenses for retirement. Additionally, many employer-sponsored retirement plans offer matching contributions, which can help boost your savings.
#15 – Invest in yourself
The most important thing you can do with your money is to invest in yourself by getting higher education or learning new skills. By investing in yourself, you are ensuring that you will be able to earn a higher income and grow your wealth over time.
There are a few different ways you can invest in yourself.
One way is to invest in your education by taking courses or attending seminars that will help you learn new skills.
Another way is to invest in your health by eating healthy foods and exercising regularly.
Finally, you can also invest in your relationships by spending time with positive people who will support and encourage you.
Investing in yourself has many benefits that are normally overlooked.
First, it will help you earn a higher income which means you will be able to save more money and grow your wealth faster. Second, it will improve your health so that you can live a longer and happier life. Third, it will help improve your relationships so that you can have more supportive and positive people in your life.
This can help you earn more money over time and set you up for success.
Bonus Tip = Be Generous
When you give to others, you are actually helping yourself. Numerous studies have shown that giving makes us happier and can even improve our health.
There are many ways to be generous. You can give your time, your money, or your talents. You can also simply be kind and helpful to others. Whatever way you choose to give, make sure it is something that feels good for you.
Many people ask what to give and there is no one answer to this question. It depends on what you have to offer and what would be most helpful to the person or cause you are supporting.
Things to consider when putting money to work
When it comes to making money, there are a lot of different ways you can go about your little endeavor. But before we get into the specifics of how and when you should put your change to work, we have some general tips to help you along the way.
Where are you today?
First, start by looking at your current spending and saving habits. If you’re not saving anything right now, start small by setting aside $50 from each paycheck into a savings account. Once you have a cushion built up, you can start thinking about investing your money.
Also, think about your long-term financial goals and how much money you’ll need to save to reach them. Automate your savings so that it’s easier to stay on track.
How Much are You Spending?
You should also be mindful of your spending habits as they can have a big impact on your ability to grow wealth over time. Try to live below your means and avoid unnecessary purchases so that more of your money can go towards savings and investments.
It can also be helpful to create a budget so that you have a better idea of where your money is going each month. This will allow you to make adjustments as needed in order to free up more money for savings and investing.
Are you Investing?
Investing is one of the best ways to grow your wealth over time. When you invest, you’re essentially putting your money into something that has the potential to earn more money in the future. This can be done through stocks, bonds, mutual funds, and other investment vehicles.
It’s important to do some research before investing so that you understand the risks involved and don’t end up losing all of your hard-earned money.
Is Debt Holding You Back?
Last but not least, debt can also impact your ability to grow wealth over time. High-interest debt, such as credit card debt, can eat away at your savings and make it difficult to invest.
If you have high-interest debt, it’s important to focus on paying it off as quickly as possible. You may need to make some sacrifices in other areas of your life in order to do this, but it will be worth it in the long run.
How to Make Your Money Work for You FAQs
1. Invest in stocks: This is one of the most popular methods of growing wealth. When you invest in stocks, you are buying a piece of a company that will be worth more in the future. The key to making money with stocks is to buy low and sell high.
2. Invest in real estate: Another popular way to grow your wealth is to invest in real estate. When you invest in real estate, you are buying a property that will increase in value over time. The key to making money with real estate is to make sure your portfolio is set up for high probability of success.
3. Invest in bonds: Bonds are another way to grow your wealth. When you invest in bonds, you are lending money to a company or government that will pay you back over time with interest.
Saving money is one of the best ways to use your money. It allows you to have a cushion in case of an emergency, and it also allows you to save for future goals. There are many different ways to save money, but some of the best include setting up a budget and sticking to it, setting up a savings account, and investing in yourself.
Investing your money is another great way to use it. When you invest, you are essentially putting your money into something that has the potential to grow over time. This can be a great way to build your wealth over time and secure your financial future. Some of the best things to invest in include stocks, bonds, and mutual funds.
Of course, you can also use your money by spending it on things that you need or want. While this may not seem like the most productive use of your money, it is important to remember that spending is necessary in order to live a comfortable life. Therefore, it is important to find a balance between saving and spending so that you can enjoy both now and in the future.
Keep your money in a safe place.
Invest in a good financial institution.
Diversify your investments.
Review your insurance coverage regularly.
Have an emergency fund.
Money Works for You
In this article, we covered a few different ways to grow your wealth.
Making your money work for you is a great way to grow your wealth without having to put in a lot of extra effort. By following the tips and tricks in this guide, you can easily make your money work for you and watch your wealth grow over time.
If you are looking for where to put your money to make it work for you, we uncovered the 15 best ways to make your money work for you.
Whichever method you chose is up to you.
The best answer is to diversify your portfolio and create multiple streams of income.
So what are you waiting for? Get started today and see the results for yourself!
Know someone else that needs this, too? Then, please share!!
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Guest Post
As the temperatures rise and the days become longer, we all have a calling in which we need to indulge. We must eat and drink outside.
Luckily, if you’re local to the D.C. area, or planning a visit during the warmer months, you can expect to have all your al fresco dining and drinking needs satisfied through one of the many rooftop and patio experiences in the area.
Each one has something unique to offer its guests – with everything from dog-friendly patios to picture-perfect views. Whether you’re an avid beer drinker, a lover of wine, or just in search of some tasty treat, you’re bound to find something in the list below that keeps you in the open air soaking in that sweet vitamin d.
Fig & Olive
Praised for its atmosphere, Fig & Olive offers a patio dining experience that feels luxurious at a reasonable price point. Fig & Olive is located in CityCenterDC where plenty of shops are just a few steps away, perfect for killing time while you wait for your table to be ready or for a post-meal stroll. The menu includes everything from small plates to seafood as well as pasta and more.
Colada Shop
Colada Shop is a renowned Instagrammer’s dream. The bright décor will draw you in and the delicious Cuban eats will keep you coming back. Complete with empanadas, sandwiches, coffee, and cocktails – this spot is perfect for any time of day. And best of all, the rooftop garden has happy-hour extending all night on Thursdays to provide you with the perfect, inexpensive way to kick off your weekend celebrations.
Fiola Mare
The outdoor seating section of Fiola Mare, otherwise known as The Kennedy Lounge, provides guests with a view of the Georgetown waterfront. Open for lunch, brunch, and dinner, this spot is defined as an Italian seafood eatery that is a must for the Georgetown area.
Iron Gate
Iron Gate’s green-covered patio comes complete with lights and exposed brick to make it feel like a fairy’s dining spot of choice in Dupont Circle. In the colder months, enjoy the warmth of their outdoor fireplace while you enjoy your deliciously prepared Mediterranean cuisine in a relaxed and whimsical environment.
Wet Dog Tavern
Wet Dog Tavern brings beer lovers and dog lovers together to drink and pass the time outdoors. Complete with lawn games and a long list of beers to choose from – everyone can find something they enjoy at this low-key hangout spot.
City Winery
Whether you’re going out on a gorgeous sunny day or a cozy rainy day – City Winery’s covered rooftop wine garden will allow you to enjoy wine of all types in all types of weather. Life music frequents this venue, but on the off days, you can enjoy wine and light appetizers while you relax in the open air.
Sauf Haus Bier Hall
If you’re one for the German drinking experience, then Sauf Haus Bier Hall is a must. Think your average beer garden, but on a roof with live entertainment. Don’t worry – there are plenty of giant pretzels to go around.
DNV Rooftop
For a variety of snacks and summery beverage choices (including adult slushies), head over to DNV Rooftop. This experience is all-inclusive, complete with a rooftop pool and a breathtaking view of the city. And if you drink too much or feel tired after a long day, you can stay in one of their luxurious rooms just a few floors down.
Perry’s
Who doesn’t love a good drag brunch? At Perry’s, you can enjoy that drag brunch atop their rooftop bar and seasonal terrace. Twinkling lights drape overtop of the patio so you can enjoy an excellent atmosphere while eating your sushi.
Embarking on the outdoor restaurant scene trail early will help identify the best spots to pass the longer days this summer. There’s something for everyone in the booming, diverse and distinct restaurant scene. Grab your mom, grab your brunch squad, and head out for a day of food and sunshine.
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Lexi is a freelance blogger and a passionate renter. She loves change and relishes her freedom to move all over the world without the constraints of homeownership. When she’s not writing localized content, you can find her singing to her brindle Queensland blue heeler, Bruno.
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Best Patio and Rooftop Restaurants in DC
Description
Now that the weather is warming up, it’s time to take advantage by moving cocktail hour outdoors. These are our favorite restaurants in DC with amazing patios or rooftops.
In the age of social media, influencers hold a lot of power and responsibility; and they also have a lot of pressure to remain popular and relevant. In light of that, some influencers have faked medical conditions to gain more attention and followers. In this article, we’re discussing 10 influencers who lied about their medical struggles to gain popularity and attention.
1. Emerald Rose
Emily from the Tics and Roses Tiktok channel was making videos under the guise of raising awareness for Tourette’s, while she was promoting her yarn dyeing business. Emily claimed that she had Tourette Syndrome since she was 6-7 years old. In her videos, her tics seemed fake and intentional and some members of her community called her out on this. But it wasn’t until someone conducted an investigation and found her old channel that they realized she never had Tourette’s. Emily was using her fake Tourette’s in order to garner attention for her yarn dyeing business.
2. Belle Gibson
Belle Gibson is an Australian influencer who gained a significant following by claiming to have cured her brain cancer through natural remedies and healthy eating. She published a cookbook and launched a wellness app, both of which claimed to help people with cancer and other serious illnesses. But in 2015, it was revealed that Gibson had never been diagnosed with cancer in the first place. The revelations led to widespread criticism and caused Gibson’s brand to crumble. The Australian government pursued legal action against her for deceptive conduct and false claims. In 2017, a court found that Gibson had misled her followers and ordered her to pay a fine of $410,000.
3. Brittany Dawn
Brittany Dawn Davis is a fitness influencer who gained a significant following on Instagram and YouTube by promoting her personalized meal plans and workout programs. However, in 2018, she faced a backlash from her customers, who accused her of failing to deliver on her promises and providing generic, unhelpful advice. Many of her clients claimed that they had paid for personalized plans but received the same meal and workout plans as others, despite her promises of a tailored program. Others alleged that she had ignored their emails or requests for refunds. In response to the criticism, Davis apologized and offered refunds to affected clients. Davis also faced criticism for allegedly faking health issues to avoid criticism or refund requests. She claimed to have suffered from a variety of medical conditions, including thyroid issues and depression, but some clients alleged that these claims were untrue or exaggerated. The situation led to widespread discussion about the ethics of the fitness influencer industry and the importance of transparency and honesty in marketing and promotion. Davis has since apologized for her actions and has attempted to rebuild her brand, but she continues to face criticism from some customers and industry observers.
4. Ashley Smith
Ashley Smith is a social media influencer who gained a considerable following by sharing her cancer journey on Instagram. Her posts about her diagnosis, treatment, and recovery garnered sympathy and support from her followers. However, in 2019, it was revealed that Smith’s cancer story was fabricated. A former friend of hers alleged that Smith had never been diagnosed with cancer and that all her social media posts were lies. The friend also claimed that Smith had a history of making up stories to gain attention and sympathy. As a result, there was widespread condemnation and outrage from Smith’s followers and the public. Many accused her of exploiting a severe illness for personal gain and trivializing the experiences of those who have genuinely been affected by cancer. Following the backlash, Smith deleted her social media accounts and issued a public apology. However, she has continued to face criticism and struggled to rebuild her reputation as an influencer.
5. Anna and Lucy DeCinque
Anna and Lucy DeCinque are Australian identical twins who have gained a significant following on social media for their extreme dedication to being identical. They have undergone numerous cosmetic surgeries and procedures, including lip fillers, breast implants, and tattooed eyebrows, to ensure that they look exactly alike. The twins have often spoken about their desire to be identical, stating that they share everything from their clothes and makeup to their boyfriends. They have also faced criticism and skepticism from some quarters about the authenticity of their claims, with some suggesting that their appearance and behavior are the results of a publicity stunt or mental illness. The DeCinque twins have leveraged their following on social media to launch a career as influencers and reality TV personalities. They have appeared on several Australian television programs, including “Hughesy, We Have a Problem” and “Botched”, and have also promoted numerous products and brands on their social media accounts. Their extreme lifestyle and appearance have led to both fascination and criticism from the public and the media, with some questioning the ethics of their influence and the impact of their message on young people. Despite the controversy, the twins have continued to maintain their dedication to being identical and have amassed a large and devoted following on social media.
6. Brooks Ayers
Brooks Ayers gained notoriety as a former cast member of the reality TV show “The Real Housewives of Orange County” after being caught in a scandal in 2015. He claimed that he was being treated for stage 3 non-Hodgkin’s lymphoma, but his story was met with skepticism from his co-stars and the public due to inconsistencies. During the show’s reunion episode, Ayers presented a medical document that was later discovered to be a fake. His co-stars accused him of exploiting a serious illness for personal gain, leading to a backlash against him and the show. Despite little evidence to support his claims, Ayers continued to insist that he had cancer. He eventually issued an apology statement, acknowledging that he had “made mistakes” and “exaggerated” his illness.
7. Sketchek
Sketchek, also known as Shayne Smith, gained popularity in the online gaming community as a skilled player of “Team Fortress 2.” However, in 2015, news of his supposed death from leukemia began to circulate online, causing shock and sadness among his fans. As time passed, inconsistencies in the reports of Sketchek’s death began to surface, leading to speculation that the news may have been fabricated. Eventually, it was revealed that Sketchek had indeed faked his own death, in an attempt to garner sympathy and support from his followers. The revelation of Sketchek’s deception caused a backlash within the online gaming community, with many fans feeling betrayed and angry that they had been manipulated in such a way. Some argued that his actions had damaged the credibility of the community as a whole. In response to the backlash, Sketchek issued a public apology in which he admitted to his mistakes and expressed remorse for his actions.
8. Leah Messer
Leah Messer rose to fame as a reality TV star on “Teen Mom 2.” In 2014, Messer made a public announcement that she had suffered a miscarriage, which stirred sympathy and support from her fans. However, it later surfaced that Messer had fabricated the story to hide the fact that she had an abortion. The revelation of Messer’s deceit created controversy and disappointment among her followers, who felt that she had exploited a sensitive issue for her own personal motives. The incident was seen as trivializing the struggles of women who had truly experienced miscarriages, and it damaged the reputation of both Messer and the show’s cast members. In response to the backlash, Messer publicly apologized and admitted to her deception, expressing remorse for her actions.
9. Dan Mallory
Dan Mallory, also known as A.J. Finn, gained fame with his debut novel “The Woman in the Window.” However, in 2019 he was accused of fabricating a story about his battle with brain cancer, which he had claimed inspired the plot of his book. Mallory’s deception sparked outrage and criticism, with many feeling he had exploited a serious illness for personal gain. Mallory admitted to his mistakes and apologized, revealing that he struggled with bipolar disorder. It is not known if he was actually struggling with bipolar disorder, but it is clear that he can’t be 100% trusted anymore.
10. Sarah McDaniel
Sarah McDaniel is a model and social media influencer who was accused of faking both Tourette’s and bipolar disorders for personal gain. McDaniel’s alleged deception sparked controversy and backlash on social media, and many people criticizing her for trivializing serious mental health conditions. Some also argued that McDaniel’s actions were a reflection of the pressure that social media influencers face to create a persona that is both interesting and relatable to their followers.
The influencers who faked medical conditions have caused significant harm to themselves and their followers. Their actions have eroded trust and underscored the need for increased scrutiny and fact-checking of influencers and their claims. As consumers, we have a responsibility to do our research, fact-check claims, and hold influencers accountable for their actions.
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For most people, retirement means something that only older people do after decades and decades of working. However, more and more people are thinking about early retirement. And, when I say early retirement, I mean being financially secure enough that you don’t need to work unless you want to.
Even though it takes a lot of work and planning to retire early, some people seem to think that early retirees aren’t very smart, are lazy, or even boring.
I see this a lot when I read articles about people who have retired early. I always scroll down to the comments of these articles because I find it interesting to see what people have to say about early retirement. I’m always shocked, and saddened, when I read comments that say these early retirees are being careless and won’t be able to live exciting lives after they retire.
Some people assume these people haven’t saved enough and are naively thinking their money will last forever. Some assume early retirees just want to stop working because they are lazy. Others think that early retirees just sit around all day and do nothing in order to save money.
However, none of these common myths about early retirees are true!
And, I just don’t understand these negative feelings about early retirement because I personally love the idea of people striving to retire early.
Really, what could feel better than working hard to your save money, investing it well, and then realizing the financial freedom you have to quit your day job so you can live your dream life!?
Whether you want to travel, continue working (yes, you can continue working your job! There’s no rule that you have to quit), spend more time with family, or whatever else, retiring early gives you the ability to choose your own future.
Plus, early retirement can be at whatever age you want it to be, it doesn’t have to be that you retire early at age 30. If you are able to retire at age 60, that’s awesome! The point is just to strive to better yourself so that you can be financially free and not stuck and miserable in debt, and/or living a paycheck to paycheck life.
Sadly, there are many out there, who do not save enough money when preparing for retirement. According to one survey, 56% Of Americans Have Less Than $10,000 Saved For Retirement. According to a different survey done by Bankrate.com, 36% of people in the U.S. have absolutely nothing saved for retirement.
Due to the above, I think it’s obvious that more people should make saving for retirement a priority.
And, even if you love your career, you can still think about early retirement.
I have saved enough to retire whenever I would like. Yes, I earn a high income, but I also save a large part of my income and watch any wasteful spending.
Now, don’t get me wrong, I absolutely love life and my online business. However, knowing that I can retire early means I am prepared for whatever might happen in the future. As you know, I’m a worrier, and I would much rather be safe than sorry. There are so many what ifs, like there could be a medical emergency, the industry may change, I may change, and so on.
You just never know what may happen in the future!
Related:
To me, having the ability to retire early is all about freedom and flexibility.
Now, I’m not going to automatically assume that extreme early retirement is for everyone. Because, it’s not.
Not all early retirement paths have to be extreme – some can actually be quite normal. Many people can still live a normal life, without really cutting too much out. It’s all about being realistic with your income and spending.
The majority of the population does not seem ready for retirement at any age, let alone the retirement age of around 65-67, so to discount early retirees altogether just seems crazy to me.
Whether you’re thinking about early retirement, still planning for a “normal” retirement age, or are just confused about what these early retirees are thinking, this post will, hopefully, debunk any myths you may have about early retirement.
Related content:
Are early retirees dumb, lazy, and/or boring?
Are early retirees naively thinking that their money will last forever?
This is one of the most common myths I hear about early retirees. Many like to assume that early retirees haven’t thought about possible future expenses, such as from having children, health insurance costs rising, inflation, the stock market dipping/crashing, and more.
However, planning for early retirement definitely takes all of these expenses into consideration.
For most early retirees, it starts with creating a budget that allows them to really know their expenses and save for them well into the future.
Related content: The Complete Budget Guide: Creating A Budget That Works
A person planning for early retirement is thinking about all of these what ifs well into the future. While no one’s calculations are going to be correct down to the penny, it is possible to factor in possible future expenses.
Still, many people don’t believe that early retirement is possible. I have heard countless people say that retiring early is dumb because $1,000,000 – $5,000,000 isn’t enough to retire young, that early retirees aren’t thinking about future expenses, etc.
I believe this has a lot to do with the fact that many people don’t understand compound interest and investing. Both of these things let your money work and grow for you, well into the future, meaning that an early retirees’ retirement funds are most likely going to grow well into the future. I have seen countless comments where a person just divides $1,000,000 by 50 years and assumes that the early retiree is living off of $20,000 a year and not a penny more for the rest of their life.
However, that’s not how investing and early retirement works.
If you want to learn how investing works and how you can start saving for early retirement, read more at How To Start Investing.
Honestly, early retirement is possible.
By saving enough of your money and living off a designated percentage of your savings or invested income each year after you retire early, you will find that early retirement is possible.
Before throwing the whole idea out, you may want to look into how it may be possible for you.
With just a 1% savings rate, it would take you 98.9 working years until you reach retirement.
A 5% savings rate means that it would take you 66 working years to retire.
A 20% savings rate means that it would take you 37 working years to retire.
A 50% savings rate means that it would take you 17 working years to retire.
A 75% savings rate means that it would take you 7 working years to retire.
So, by saving more of your money, you are likely to retire sooner. Makes sense, right?
Related content: Do You Know Your Net Worth?
Are early retirees lazy and just not wanting to work?
I’m going to be honest, this myth is absolutely crazy! If you are planning for early retirement, you definitely aren’t lazy. Like I said before, it takes a lot of planning and forethought to retire early. It’s not at all for the lazy!
However, I have heard so many people say this about early retirees. And, I think it’s the exact opposite.
If you are looking to retire early, you probably aren’t the type to just sit around all day. I mean, if that’s your plan for after you retire, that’s totally fine because you get to choose. But, for many, early retirement isn’t just about not working. It’s about having the freedom to spend your time pursuing your passion, traveling, spending more time with friends and family, and more.
Still, I have heard so many times that early retirees are lazy and are just looking for a way to escape the work world and essentially be homeless, live in a shack, eat rice and beans, etc., instead of working.
I believe early retirees are hard workers who want to live life on their own terms. After all, they had to save enough to retire early some way – and I’m sure it wasn’t due to any laziness.
Don’t early retirees just sit around all day in order to save money?
I have heard countless people say that early retirees are boring, lead meaningless lives, and probably just sit around all day doing nothing. Some of these same people justify not saving for retirement by saying that they’d rather work until they’re 70.
I don’t know how much fun the average person has while working, but I’m fairly positive that the average person is probably not in love with their job. In fact, it is somewhat rare for a person to be absolutely in love with their job. Yet, I still hear this myth all the time.
An early retiree isn’t just going to sit around all day. Even if that’s what they want to do, who cares?! Retiring early certainly doesn’t mean that you have to be bored.
With all the extra time you have after retiring early, you could volunteer, pursue a passion, find fun things to do, take up a hobby, and more.
Heck, you could even continue working, if that’s what you truly desire. Early retirement just gives you choices in case something changes in the future.
I know that for me, if I chose to stop working one day, I could easily find time to fill my day outside of work. I could travel even more, go on more long hikes, be more fit, read more, learn more (I’ve been wanting to learn a new language), find a passion project, spend more time with friends and family, etc. The list is endless!
The average early retiree, that I know, has a very active and meaningful life. They don’t need work in order to feel valued in the world; instead, they find other things to make themselves happy.
Plus, just because you are saving for retirement doesn’t mean you are eating ramen noodles for breakfast, lunch, and dinner. However, this is a myth that is often associated with early retirement.
Sure, a person who seeks early retirement or who has already retired early may be frugal, but I highly doubt that the majority of early retirees live boring and uneventful lives.
There are plenty of ways to have frugal fun, eat on a budget, and so on. You can even see the world, while saving for early retirement, too. We currently live in our RV, while traveling North America (yes, I know that’s not the world), and we have met many early retirees who are doing the same. Remember, the best things in life are free. The outdoors, spending quality time with those you love, laughing, and more are all FREE.
When do you want to retire and when WILL you retire? What do you think of early retirement?
Save more, spend smarter, and make your money go further
By now, you’ve surely heard of Amazon Prime. It’s the retail giant’s paid membership that’s best known for its speedy shipping services. Packages will arrive at your doorstep in two days max—or as soon as that night.
Catering to the subset of online shoppers who buy often and want their goods delivered ASAP, Amazon launched its Prime service in 2005. Paying $119 a year for free two-day shipping may not be a great deal if you don’t shop much. But that’s not all a Prime membership will get you. As well as the all-important free two-day shipping, Prime provides its members with one-day shipping for $3.99 free streaming TV and movies, and so much more.
Millions of people currently reap the benefits of Prime. If you’re one of them, or you’re considering signing up, the following tips will help you maximize the rewards. Read on to learn all about the wealth of offerings that Amazon’s paid membership gets you, and how to get the most out of your subscription.
Amazon Prime Shipping
The most widely known benefit of Amazon prime is, of course, its rapid shipping. Known as “Prime” shipping, this membership perk gets you free 2-day shipping on all eligible Amazon products. Prime members also have access to ultra-expedited, 1 day shipping on over 10 million items. Better yet, more than 3 million items qualify for same day delivery, as long as you meet Amazon’s $35 order minimum. A package ordered in the morning could arrive on your doorstep that night.
Amazon delivers on its lofty 2-day shipping goal thanks to their enormous network of Amazon warehouses. These 50+ warehouses are placed strategically across the US. While anyone can start an Amazon business, only products that are fulfilled by Amazon are available in Amazon warehouses. These contain a stockpile of the most commonly ordered Amazon items and are staffed by employees who work around the clock to ensure your product is delivered in a 48-hour window.
When a Prime-eligible product is ordered, Amazon sources it from the nearest Amazon warehouse. It’s then packaged, placed on an Amazon truck, and delivered to your house by the deadline.
Amazon Shopping Benefits
Amazon is the world’s largest online retailer—and it’s no wonder why. Amazon offers some of the most competitive shopping benefits and largest selection of items for sale in the world. Use the following tips to get the most out of the company’s benefits and reap the rewards of your membership.
Qualify for Amazon Prime Discounted Memberships
A standard Amazon Prime membership costs $119 per year, or $12.99 each month if you’d rather pay in installments. However, in some scenarios, you may be able to get your membership at a discount—or even for free.
EBT or Medicaid card holders: If you have a valid EBT or Medicaid card, you can get access to Amazon Prime for only $5.99 each month
Students: If you’re a student, you can get a free, 6-month trial of Amazon Prime; once your trial is up, you can have access to Prime membership at $6.49 each month
Take Advantage of Prime Deals at Whole Foods Market
Prime shopping benefits extend beyond Amazon’s dot com site. Prime members get exclusive discounts when shopping both online and in-store at Whole Foods Markets.
Try on at Home with Prime Wardrobe
Looking for a new wardrobe but hate the unknown of online shopping? Amazon’s Prime membership solves that problem with Prime Wardrobe. This service allows you to order clothing, shoes, jewelry, and accessories without paying upfront. Try on the clothes at home, send whatever you don’t want back, and only pay for the items that you decide to keep.
Bookmark the Daily Deals
Every day, Amazon offers exclusive deals for Amazon Prime members. Prices are slashed in every single department—home and kitchen, electronics and accessories, toys, kids, babies, and more. Everything from digital cameras to lawnmowers can be found at reduced prices.
Plus, Amazon offers Prime members 30-minute early access to Lightning Deals, a promotion in which a limited number of discounts are offered on an item for a short period. Here’s the thing: you need to act fast to grab the discounts. Each deal is available in limited quantities, and when it’s gone, it’s gone. Add the deals page to your bookmarks and sign up to receive daily deal emails.
The mother of all Amazon deals is Prime Day, a single day devoted to Amazon Prime deals. If you want to take full advantage of this once-a-year event, do your research ahead of time and make sure you have the best Prime Day credit card.
Use third-party price monitoring websites
Long-time Prime user Mark Lindsey’s pick is camelcamelcamel.com, which provides price histories and sends email alerts when an item of interest is discounted. Other options include Honey, Timberfrog, and Price!pinx. Some of these services may be able to be installed directly into your Firefox or Chrome browser.
Amazon Entertainment
Amazon’s most recent foray is their takeover of the entertainment world with the introduction of Amazon Entertainment. Though its TV and moving streaming service was originally introduced in February 2011, it has grown exponentially in the past several years. It’s now a rival to media conglomerates like Netflix and Hulu.
Delve into Amazon.com’s video offerings
Through Prime Video and Prime Video Channels, Amazon Prime membership offers free movie and TV streaming, complementary with Prime membership. Furthermore, Prime Video Channels allows you access to premium channels like HBO, Showtime, and STARZ at between $4.99 and $14.99 a month, with no additional apps to download.
Not only does Amazon offer popular movies and TV shows (for instance, it’s the only place you can stream Lord of the Rings), but Amazon also produces original content available only with an Amazon Prime membership. Its in-house production company, known as Amazon Studios, was started in late 2010.
Listen to Amazon Music
Amazon has a vast music library of tens of millions of songs. Prime members have access to a portion of these, available for listening on any Echo device, at no cost. Plus, Prime members get discounted rates on Amazon Music Unlimited—Amazon’s entire music library.
Game with Prime Gaming
Gamers can benefit from an Amazon Prime membership, too. Prime Gaming gains you access to free games and in-game content every month. Plus, get a monthly Twitch channel subscription for free and exclusive promotions on new games. With Prime’s free release-date delivery, you can order and receive new video games by 7 PM on release day.
Other Amazon Prime Advantages
Prime benefits don’t stop there. Make sure you’re getting the absolute most out of your yearly membership price with the following.
Go Old School with Prime Reading
Did you know that Amazon was originally a bookstore? Amazon’s reading benefits hearken back to their bookstore roots. Prime Reading provides members with unlimited access to more than a thousand magazines, comics, eBooks, and more. You don’t need a Kindle to read these; they can be accessed on any device.
Plus, through Amazon First Reads, each Prime member can download one editors’ pick book each month before the official release date.
Recruit a Friend
Prime members can share their accounts with one other adult, which means free membership for a person of your choosing. To sign them up, go to the Prime Membership management section of your Amazon account settings. Note that student and EBT/Medicaid members cannot share accounts with any other individuals.
Think beyond the last-minute buy
The ability to make frequent small purchases and be assured of their swift arrival is a key benefit of Prime. Many a Prime user has been saved by the fast, free expedited shipping after remembering a birthday or anniversary in the nick of time. But for household products such as cleaning supplies and toiletries, it’s often cheaper to plan ahead and buy in bulk.
Amazon’s Subscribe and Save feature allows you to place a recurring order for an item and choose the frequency for its delivery. You’ll save 15 percent off the price and won’t have to worry about stocking up. As another veteran Prime user Mark Zembrzuski notes, “Nothing says you’re living the high life like coming home to 48 rolls of toilet paper.”
If you haven’t yet signed up for Prime, Amazon is currently offering a one-month free trial. To register, visit amazon.com/prime.
Save more, spend smarter, and make your money go further
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Are you wondering how much money you should have saved by 25?
If so, this post is for you.
You need to learn how to save from a young age to be financially responsible and enjoy your life without stress.
In this post, I will outline the steps that I took to save a total of $25,000 by age 25. That ultimately led to becoming a millionaire well before most people earn that 7 figure status.
My goal is to help motivate and inspire you to save as much money as possible.
I believe that if everyone saves just 20% of their income each year, we could create massive waves of positive change across the world. So let’s get started!
How much money should you have saved by 25?
It’s never too late to start saving for your future.
By age 25, you should be working through paying off debt and starting to improve your savings rate.
Below are guidelines on how much money a 25-year old should have saved by the age of 25.
Save a Total of $20000
By 25, you should have saved $20000.
Given the average savings for this age is only $11,250 and the median savings is $3,240 (source), you will be ahead of the curve with those super savers in this age group. However, most twentysomethings fall in the middle of the bell curve and could barely afford a job loss or any major expense.
Save at Least 50% of your Annual Expenses
Another rule of thumb for a 25-year-old is to save 50% of your annual expenses.
Let’s say, you spend an average of $20000 a year on rent, food, insurance, discretionary spending, etc, then you would need to save at least $10000.
This method will make sure you have enough money saved based on your lifestyle.
How much money should you have saved by age 30 for retirement?
If you want to have a comfortable retirement, you should save as much money as you can by the age of 25 and 30.
Most people don’t save enough for retirement and twentysomething (age 20-29) only have average 401k balances of $10,500 (source).
That means at a retirement age of 65, your account balance would be $94,259 in a taxable 401k / IRA or $228,107 in a Roth 401k / Roth IRA. The assumptions include no additional contributions and an 8% rate of return.
To prepare for retirement, aim to save between $15000 and $20000 by age 25. To stay on track, use a benchmark to figure out how much you need to save each year and customize your target based on your individual circumstances.
If you’re not saving for retirement yet, start contributing to 401k plans and IRA accounts now so that you’ll have a solid foundation when it comes to savings.
Save at a Minimum of 10% of your Income
This needs to be non-negotiable at the age!
It is very easy to find ways to pay yourself first and save 10% of your income. While you may prefer to hit that happy hour or buy those designer shoes, you are better off trimming your spending and up your savings while you are young.
Then, each year increase your savings percentage by 1% until you reach the 20% threshold.
But, you don’t have to stop there! Many Gen Zs are wanting to explore why there are young and healthy and not be a slave to the workforce. That means you need to save more to make that happen.
What should your net worth be at 25?
Most people in their 20s are typically swaddled in debt, especially student loan debt.
Your goal is to have a positive net worth – even if by $100. That means your savings is greater than any debt you have.
Your goal is to double your liquid net worth quickly.
What is the average savings rate for people in their 20s?
Okay, let’s be real… okay?
Most young adults are spending more money than they are saving. That means each month their spending exceeds their income.
As such the statistics do not even include this age group.
how much should I have in savings at 25?
At 25, you should have about 3-6 months of living expenses saved up in the bank.
Additionally, it is important to start thinking about your long-term financial goals and make sure you are building a foundation that will support those goals.
What are the different savings goals that people in their 20s should have?
Saving for your future is important, and you need to make it a top priority.
There are many different savings benchmarks to choose from including:
Save an emergency fund of at least $2000.
Participate in one of our popular money saving challenges.
Start contributing to workplace retirement and save enough to get the company match.
Begin saving for those big purchases like a gently used car or downpayment for a house.
Set up a Roth IRA and start making contributions (even baby amounts count).
This will make sure you are on your way to becoming financially sound before you turn 30.
What are the list of ways to save money?
If you want to save money, there are a few things you can do.
Saving money in your 20s is the easiest age to save as you don’t have as many responsibilities and obligations as you will in the future.
Here is a list of the most common ways to save money:
1. Use Budget Percentages as a Guide
If you want to save money by 25, you’ll need to start by setting a budget and sticking to it. You can reach this goal by using different budgeting techniques, such as the 50/30/20 rule.
The 50/30/20 rule is a good place to start:
50% of your income going towards necessities (housing, food, utilities)
30% going towards discretionary expenses (groceries, entertainment, travel)
20% saved for emergencies
This will help you be consistent in your savings habits is key to saving money.
2. Track your spending
Tracking your spending is key to understanding where your money goes.
Save receipts from each purchase and go over them once a week to get a better understanding of your spending habits. This can help you see where you might be overspending and make improvements to your budgeting techniques.
Great apps to help you include Simplifi or Rocket Money.
2. Use AI Powered Savings Apps and put your savings on autopilot
With AI, you can save money by automating your savings process.
Setting up recurring transfers to automatically deposit money into your savings account means that you won’t have to worry about finances anymore.
The popular AI saving apps can also help you save for your retirement, as well as any financial goal you may have. Thus, reducing the amount of time spent on financial planning.
Top AI Savings Apps:
4. Use gamification to save
Gamification can help make saving fun and more likely to be kept up.
Gamification can help people save money by providing a tangible benefit to work towards and providing some valuable encouragement.
By using the method of gamification, you help others save money by motivating them to reach a goal while you work to complete the same goal.
For example, if you’re trying to save money for a trip, you could set up a game with friends (aka accountability partners) where you earn points every time you save money with the 100 envelope challenge. Those that save the goal amount get to go on the trip.
5. Collect your employer’s 401(k) match
If your employer matches your contributions to a 401(k) plan, it’s important to take advantage of the match.
A 401(k) match is a free money offer from your employer, so it’s worth maxing out your contributions in order to gain the most benefit.
Also as long as you meet the qualifications, you can also contribute post-tax dollars to a Roth IRA account. This is another great way to increase savings for retirement.
6. Delay buying a home
Buying a home is not easy, but it’s important to have goals and plan for what you want to achieve.
The down payment on a house is one of the most important factors when buying a home as such you may need to delay buying a home for as long as possible to save money.
Also, by delaying buying a home, you can save money by taking the time to research different neighborhoods, compare prices, and get pre-approved for a mortgage.
Not only will this save you money in the long run, but you will also have peace of mind knowing that your future home is exactly what you wanted.
7. Use Open banking to track your spending
If you’re interested in tracking your spending and saving money, you can use Open banking to do just that.
Open banking allows customers to access their bank account information and manage their finances through APIs.
This means you can see how much money you’ve spent and where your money is going, which can help you stay within your budget. Additionally, open banking tools can be used to better understand your bank’s products and services.
Many of the best budgeting apps, such as Quicken, allow you to utilize open banking data to help you organize and manage your money in one place.
8. Use credit cards sparingly
Even those Gen Z has the lowest credit card debt amount (source), it is still wise to make sure you are using credit cards appropriately.
Credit cards can be a great way to earn rewards or get cash back, but only if you use them sparingly and pay off your balance in full each month to avoid interest charges.
It’s also important to check your credit report regularly to make sure there are no outstanding debts you didn’t know about.
9. Use a budget
If you want to save money, using a budget is a great way to accomplish it.
By tracking your expenses and setting limits on how much you can spend each month, you can make sure that you are always saving money.
A budget is a great way to save money because it allows you to choose where you actually want to spend your money rather than figuring out where you spent your money afterward. It also allows you to optimize your spending so that you don’t waste money on unnecessary things.
10. Invest for the long term
Investing for the long term can be a great way to save money as you let your money grow instead of having to create new streams of income.
You can buy stocks in companies or ETFs and hold onto them for a long time, adding money to your account regularly. This strategy can help you take advantage of market volatility and make money over the long term.
You also need to make sure you’re properly investing your money in order to reach your savings goals.
What is the best advice to save money by 25?
To save money by 25, individuals should aim to save 10% of their income.
It may be difficult to save more than 10% of one’s income, but it is possible.
Saving money is essential for financial security at any age, and you can start by being determined and making sure you’re saving at least 10% of your gross salary.
Simple Tips to Save Money by 25
You should focus on spending as little as possible to save money, and set a fixed budget rather than relate your expenses to your income.
Be consistent in your savings and avoid impulsiveness to save money.
Save up on transport or any other thing you might feel is a luxury rather than a necessity.
What is the average savings rate for people in their 20s?
The average savings rate for people in their 20s is $11,250, so it’s important to start saving as soon as possible.
The median savings is $3,240, so most people in their 20s have modest savings.
Savings Tools to Build Cash Fund Savings
There are many ways to save money, so find what works best for you.
People in their 20s have a lot of opportunities to save money, so don’t wait to start!
You want a savings plan that matches your long-term financial goals!
Pay yourself first
In order to have a successful future, it is important to start saving from a young age. There are a few different ways to save money, and one of the most important is to pay yourself first.
This means putting your own money into your bank account before spending it on anything else.
This will help you build a strong foundation for your future, and you will be able to save more money
Save Consistently
Set aside money regularly so you have a stash of cash to use when you need it.
That means each you save $100 or each paycheck you save $250.
Whatever the amount, do it consistently.
Trim Spending
If you want to save more money each month or year, try cutting back on unnecessary expenses.
Don’t rely on your income to directly influence your costs – track how much you’re spending each month and try not to exceed your allotted amounts for each category.
Do not overspend just because there’s more money in your checking account – create healthy financial habits that will last long-term.
Use Cash Windfalls Strategically
These cash windfalls could be from bonuses, inheritances, or even some left hand itching lottery luck!
You want to save those cash windfalls and make a plan on how you will spend them.
Additionally, you may be able to use the money to pay down debt or buy a home. This is an important lesson to learn if you have unexpected money coming your way—you don’t have to spend it all!
Save Increases in Income
Dedicate additional income to savings so that you’re really putting your money where your mouth is.
You can increase your savings by dedicating a percentage of your income to savings. Dedicate 10% of your income to savings, for example, and then an extra 1% to save search year.
Savings will grow along with your income, and you will have more money to use for other needs.
Make Saving a Habit
Your saving habits will change as you reach your 20s and into your 30s.
However, it’s important to keep track of your progress and make saving part of your regular routine. There are many different ways to save and reach your goals, so find what works best for you.
FAQs
If you have a low income, there are still ways that you can save money.
Try to focus on paying off high-interest debt first and then saving three months of living expenses.
Another way to save money is by reducing unnecessary expenses with a 30 day spending freeze.
The answer to this question depends on your individual situation and goals. However, we can offer some general advice on saving habits for a 25 year old should include:
First, it’s important to set a budget and stick to it. This will help you track how much money you are spending each month, and allow you to make better decisions about where to cut back. Add 1% to your monthly savings each month until you reach your goal of $20000 saved.
You also need to be mindful of how you spend your money. Try not to rely too heavily on credit cards or other forms of debt, which can quickly add up over time. Instead, try investing in stocks or bonds instead – these tend to provide more reliable returns over time and offer less risk than some other investments.
Finally, don’t forget about savings! Whether it’s into a high-yield savings account or an emergency fund earmarked for unexpected expenses, putting away some extra cash will help ensure that you have enough resources when necessary.
How much should I have in my emergency fund by 25?
By 25, you should have saved at least $1000.
However, 2% of your annual salary is a better threshold.
By age 25, most people should be saving at least 5% of their income and contributing an additional 1% every year.
If you can’t save enough money to contribute at the recommended rates, don’t worry – you can still save for retirement by gradually increasing your savings rate.
Saving money can be difficult, but it’s important to focus on not spending every penny you earn.
One way to do this is to set aside a certain amount of money each month that you will not spend.
Another way to save money is to find ways to reduce your monthly expenses. For example, you can cook at home more often instead of eating out, or you can carpool with friends to save on gas.
If you’re determined and have the skills, you can quickly learn how to make money online for beginners.
Side hustles are the name of the game right now.
Stick around Money Bliss – we have plenty of ways to help you earn extra money.
If you want to pay off your debts more quickly, you should start by saving money each month.
You can use your savings to pay down your debts faster if you focus on high-interest debt first.
If you have three months’ worth of living expenses saved up in case of emergencies, that would also be a good place to start. Check out the best debt apps to help you.
First, you need to make sure you are financially stable in other areas. You are fully funding your retirement accounts and Health Savings account, you have stable housing.
Then, you can consider saving for a child’s education through a 529 plan.
Saving for a child’s education can be difficult and expensive, but it’s important to start early if you have the extra income to support it.
To save money for a vacation, start by setting a specific amount you want to save each month. Then, calculate how much money you need to save by the date of your dream vacation.
Set a date by which you want to have traveled and begin backing out the math needed for that trip! As long as you continue saving 20% of your income each month and stay within budget, travel is always possible!
How to Save for a retirement
To save for retirement, you should start by investing 5-15% of your paychecks into a tax-advantaged account.
You should also plan your retirement based on your income, age, and desired lifestyle. You can save for retirement by consistently increasing how much you put in retirement accounts.
Don’t forget to include that employer match!
What should I do if I don’t have enough saved by 25?
Don’t get down on yourself!
Start now!
Waiting will only exacerbate things.
There are many different savings techniques to try, so it’s important to find one that works for you:
Start by putting away $50 every month and then add more funds as needed.
Pick one of our money saving challenges.
Use cash or debit cards instead of credit cards.
Even if you don’t have any big expenses planned in the near future, saving is still important for long-term financial stability. You’ll be on your way to having enough money when you’re older!
What are the consequences of not saving by 25?
You have nothing to show for your hard-earned income.
That is the cold and honest truth. But, you are only 25 years old, so you have plenty of time to change your ways.
If you’re not saving by 25, you may have to make some sacrifices in order to reach your financial goals. You may need to cut back on your spending, take on a second job, or make other changes to your lifestyle.
However, if you’re willing to make these sacrifices, you can still reach your goals.
Savings Steps for your Twenty-Something Self
When it comes to your twenties, there are a lot of things you want to do and accomplish.
One of the most important things on that list should be saving money.
After all, the earlier you start saving, the more time your money has to grow.
Starting to save money from a young age can lead to a larger nest egg over time. Plus, if you start early, you can take advantage of compound interest, which will help your money grow faster.
An individual’s earnings and spending patterns are still in flux during their twenties, so there are many opportunities to save.
Also, you need to remember there is more to life than just saving money–put other goals on your list (such as starting a business) and figure out how much you need to save each month in order to reach your targets.
Now, learn how much should I have saved by 30.
Know someone else that needs this, too? Then, please share!!
You don’t have to be an environmental scientist to want to help preserve our planet. With a few small changes, you can start making more eco-friendly decisions with your money.
Here are 12 ways to go green with your finances today.
What’s Ahead:
1. Invest in green stocks and funds
Green investing is a popular way to make your money work for the environment. It often includes building a portfolio made up of companies with strong environmental, social, and governance (ESG) values.
You can also invest in green funds or green ETFs, which are portfolios of companies that have a positive environmental impact.
For example, Empower is one of the best robo-advisors for green investing. It has low fees and plenty of socially responsible investing (SRI) portfolios to match your goals and values.
(Personal Capital is now Empower)
Read more:
2. Use a green bank or credit union
Supporting eco-friendly initiatives doesn’t stop at where you invest your money. You can also support the environment by using a bank or credit union that has sustainable practices.
Look for a financial institution that uses paperless banking, funds renewable energy projects, avoids fossil fuels, or has other green policies in place.
And if you want to really up the ante, you can make sure the institution is a Certified B Corporation (which means they’re legally required to follow certain sustainability and diversity requirements).
Some of my favorite green banks are:
Aspiration Bank: Has spending and saving accounts, as well as investment accounts with fossil fuel-free portfolios.
Ando Money: On a mission to fight climate change. Accounts come with unlimited 1.5% cash back on purchases, free overdraft protection, and early paydays.
BankPurely: Plants a tree every time someone opens a SavingPurely account.
Read more:
3. Get an eco-friendly credit card
With a green credit card, you can help the planet while also earning rewards for yourself.
There are now a few different companies that offer eco-friendly credit cards. Most reward you for shopping with green businesses or help offset your carbon footprint.
One of the best green credit cards is the Aspiration Zero Credit Card. It earns 1% cash back and plants a tree every time you make a purchase to help neutralize your carbon footprint.
4. Make your home more energy-efficient
Source: giphy.com
Another way to turn your money green is to make your home more energy-efficient. There are tons of simple ways to do this:
Install LED light bulbs.
Weatherstrip your doors and windows.
Unplug electronics when you’re not using them.
Turn the faucet off when you’re not using it.
Install low-flow fixtures in your home to save even more water.
Always run your dishwasher and washing machine when it’s full.
Air dry your clothes instead of using the dryer.
Install solar panels.
You can even get a tax credit for making certain energy-saving improvements to your home.
5. Consider a green car
If you’re in the market for a new car, look into fuel-efficient or electric models. Not only will you save money on gas, but you’ll also be doing your part to reduce emissions. Plus, you may be eligible for a tax credit if you buy a qualified electric vehicle.
Read more: The cost of driving a hybrid
6. Drive less and drive smart
Speaking of driving…
When you do need to use a car, there are a number of ways to save money and be more eco-friendly. This includes carpooling, using public transportation, and biking or walking when possible, all of which can help reduce your carbon footprint.
And when you do drive, you can save fuel and money by driving the speed limit, keeping your tires inflated, and combining errands into one trip.
7. Replace disposables with reusables
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Another easy way to make your money green (and reduce your impact on the environment) is to replace disposables with reusables.
For example, you could:
Use a reusable water bottle instead of buying bottled water.
Bring a reusable mug to the coffee shop.
Carry stainless steel straws with you so you don’t have to use plastic ones.
Bring your own bags to the grocery store.
Invest in reusable menstrual products like cups, cloth pads, and period panties.
These are just a few examples — there are many more ways to reduce your impact by switching to reusables. And the best part is, they often save you money in the long run. So if you’re looking for an eco-friendly budgeting hack, this just might be it!
8. Avoid fast fashion
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The fast fashion industry is one of the biggest polluters in the world. The production of clothing uses a lot of resources, and most of it ends up in landfills. When you buy from fast fashion brands, you’re contributing to this cycle of waste.
Use these two alternatives instead:
Switch to slow fashion
Instead, opt for slow fashion brands that focus on sustainable and ethical production.
Some of the best slow fashion brands are Reformation, Everlane, and Girlfriend Collective.
You may pay more upfront for a single item when you shop slow fashion, but these items are built to last. And they often end up being cheaper than fast fashion brands when you factor in cost per wear. (This is an item’s price divided by how many times you plan on wearing it.)
Shop secondhand
You can find high-quality secondhand clothing at thrift stores, consignment shops, and online. It’s a great way to repurpose high-quality items that have already been produced and keep them out of the landfill.
Read more: Conscious consumerism: how to spend your money with intention
9. Minimize your food waste
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A four-person family wastes about $1,500 a year on uneaten food. This food then rots in a landfill for decades. (Did you know it takes 25 years for lettuce to decompose?!)
One of the best ways to reduce your impact on the environment — and develop more eco-friendly budgeting habits — is to minimize your food waste.
Plan your meals so you use all the food you buy, and compost any scraps. You can even save money by turning leftovers into new meals.
Read more: How I used local farms to slash my food bill
10. Eat less meat
Meat production is a major contributor to greenhouse gas emissions, so eating less of it can help the environment. If you’re not ready to go completely vegetarian or vegan, try incorporating more meatless meals into your diet.
Read more: The true cost of going vegan
11. Start an eco-friendly side hustle
There are a number of ways to make extra income while also helping the environment. You could start a composting business, offer carpooling services, or sell eco-friendly products. If you’re passionate about sustainability, there are plenty of opportunities to make a difference — and a profit.
Read more: Side hustle ideas: 35+ ways anyone can earn more money on the side
12. Donate to environmental charities
Last but not least, you can make your money green by donating some of it to environmental charities. There are a number of organizations working to protect our planet, and your donation can help them continue their work.
Some of the top environmental charities include the Nature Conservancy, the Sierra Club, and the Environmental Defense Fund.
When you donate to these organizations, you’ll be supporting their efforts to protect our planet. And you’ll be making a difference in the fight against climate change.
Read more: You’re not too broke to give to charity (and 4 other reasons to give)
Summary
Making even just a few of these changes can help you live a more eco-friendly lifestyle. And as you start making greener choices with your money, you’ll be doing your part to protect our planet for future generations.