Peace of Mind: 4 Ways to Overcome Financial Stress

If your financial situation isn’t what you hoped it would be, there are ways to change it for the better. By holding yourself accountable for your earnings and spending, you’re able to put a plan in place that helps you achieve your financial goals quicker. 

It helps you evolve into a better planner, too, so you don’t find yourself stressing about money in the future. The following list provides four suggestions to overcome financial stress.

Pay Yourself First

Before you divvy up your paycheck, make sure that you give your bank account a boost. Having a portion of your money automatically directed into a savings account makes it so you have some financial security to fall back on in the event an unexpected expense comes up. 

It doesn’t matter how much money you move into savings, either, because every little bit counts. You’ll learn to live on less and still plan for the future thanks to the automatic deduction you opted to have sent to your savings account.

Learn to Differentiate between a Want and a Need

What you must have to survive and what you’d like to have to be happy are two different things. Learning to postpone wants allows you to better take care of your needs. Then, if you find yourself in a better financial situation, you can pay for wants and needs equally. 




You won’t need to wait to buy something you really want because you will have taken care of your basic needs and be ahead financially.

Make Saving Money a Game

Challenge yourself to save as much as money as you possibly can on everything you buy. Clip coupons, take advantage of sale prices, stock up on freebies, and borrow what you’d typically buy. There are many ways to stretch the almighty dollar further. Have fun with it by being as creative as you possibly can be.

Invest in Your Future

No matter how tight things may be now, they won’t always be that way. Invest in your future today by taking advantage of learning opportunities, free training, and other things that interest you. 

By putting time and attention into personal development, you become a valuable resource for yourself and others. You’re able to overcome money challenges quicker and easier, too, because of the skills you bring to the equation.

Selling my home for cash doesn’t need to be something difficult to do. In fact, it’s one way to overcome financial stress quickly. Not having a mortgage payment frees your finances up considerably. It allows you to come up with cheaper and more creative living arrangements.

If you’re experiencing stress because of your finances, you don’t have to feel stuck. There are plenty of steps you can take to free up debt and to be more organized with your finances.

Contingency Plans You Should Make after Landing a Great Job

You may have spent many long years in school as well as additional time gaining essential experience in your field. After a considerable amount of time and effort, you may be thrilled that you have finally landed an amazing job. 

Understandably, you are focused on putting your best foot forward and doing your best to retain your job, in fact, you may home to advance further in your field in the future. As important as it is for you to look eagerly toward a bright future, it is equally essential to make contingency plans and to prepare for potentially severe situations. 

These are some of the more important steps that you should take now to prepare for unpleasant yet possible scenarios.

Get a Financial Advisor

If you are not working with a financial advisor right now, consider doing so soon. Your new job likely came with a huge boost in income. This extra income could be used to improve your lifestyle and to enjoy luxuries that have previously not been available to you. 

On the other hand, you could use this extra money to save and invest. Preparing financially for the future right now is a smart way to be prepared for a layoff or other employment issues. This also may prepare you for retirement down the road. 




Keep in mind that you may be forced into an early retirement or need to call it quits before you actually planned to do so.

Hire a Lawyer

Some jobs are riskier than others, so there may be a more significant need to have an attorney’s phone number stored in your phone in some situations. For example, if your job requires you to drive frequently, keeping the number of an automobile accident attorney in your phone is a great idea. 

The services of malpractice lawyers, workplace injury lawyers and other legal specialists may be required in various situations as well.
Improve Your Home Life

In order to do your best in your new position, you understandably need minimal distractions from your home life. If possible, look for ways to reduce home maintenance and upkeep tasks. For example, you may use lawn care and cleaning services to save valuable hours each week. 

If your home is too large and unmanageable, you may even downsize to a space that is easier for you to care for. Relocating to a home that is closer to your new workplace may also benefit you.

Planning and preparing for the future requires you to be optimistic as well as realistic. When you follow these steps today, you can be better prepared for whatever the future holds.

Retired and Buying a Home? 4 Points to Help You Get Your Dream Property in Florida

Retirement is your golden years. It’s the time in which you can focus on yourself, do the things you’ve always wanted to do, and to relax and live life to the fullest. For some, that retirement dream is to travel around the world. Others, though, prefer to retire in a warm place like Florida.

If you’re retired and looking to buy a home in a new area, or downsize your existing home, there are a few things you’ll want to remember. The wrong house could hinder your retirement and cost you a lot of money. However, the best property for you could be what you need to top off a perfect retirement.

To help you plan your retirement and buy a house in Florida, we have a few pointers to remember.

Be Realistic About the Location

The location of your potential property is important, especially in your retirement years. It may seem appealing to have a house tucked away in the woods and secluded from everything else. However, how long of a drive is it to get groceries, go out for supper, head to a doctor’s appointment, or meet up with a friend?



As you get farther into your retirement, driving may not be as appealing anymore. You may find yourself having to visit the doctor’s office more frequently. Also, being too secluded can make you feel lonely.

Don’t Use All of Your Retirement Savings

It may be tempting to pay for your retirement home in cash so that you don’t have a new loan to take on. However, if you do that, what are you left for in your retirement savings?

Tying up your retirement funds into your home isn’t the wisest decision, unless you have tons of money to last you decades. Taking on a new mortgage isn’t the end of the world, and it will likely still allow you to do the things you love.

Take a look at the different mortgage options, like a USDA loan. Talk to a lender and view a USDA loan map of Florida to see if you qualify.

Be Realistic About the House

Maybe you found the perfect retirement property for your life at this moment. However, will the house still work for you five, 10, or even 15 years down the road?

A house that has multiple stories with tons of stairs may not be as appealing the older you get. You could find yourself having to spend more money upgrading the property to be more suitable as you age, or having to move altogether.

Can You Afford It?

Buying a house when you retire is different from buying a home in your 20s. At that age, you have decades worth of work ahead of you, so you know you’ll likely always have a consistent income coming in.

When you retire though, your income will not be the same. You need to factor this in. Ask yourself if you can afford the potential property with your retirement money for multiple years? Do you have enough set aside into an emergency fund? You wouldn’t want to find that in the next five years, half of your retirement savings is gone due to your new house.

Golden Goose in the Golden Years: How to Manicure and Manage Your Nest Egg

Retirement is a time for you to cherish. People often use their retirement years to make the most out of life. They often travel, participate in new recreational activities, and simply take it easy. If you want to do all of these things with ease, however, then you need to make a point to protect your finances properly. Keeping your nest egg intact is essential.

Devise an In-Depth Monthly Budget

The absence of a comprehensive budget can make handling a nest egg pretty unrealistic for most people. If you want to keep your finances in check for years to come, then you need to devise an exhaustive budget. Figure out how much money you’re able and enthusiastic to set aside each month for utilities, entertainment, transportation, dining out, and more.

Consult Several Retirement Planning Advisors

Retired individuals often seek financial assistance from capable and knowledgeable planning advisors. There are planning advisors out there who specialize in retirement exclusively. 





That’s one of the reasons they’re qualified to give retirees comprehensive advice. Set up consultations with various retirement planning advisors in order to select one who is the best match for your individual aims and wishes.

Downsize Everything You Can

If you want to take charge of your nest egg and of your financial future in general, it may be wise to downsize. Chances are your children are adults who no longer live with you. If they are, you may not need as much space as you did in the past. 

Consider selling your home and relocating to a much smaller one. Smaller residences cost a lot less to maintain. Living in them can decrease your lifestyle expenses in a major way.

Find a Part-Time Job

It can be smart to keep your mind sharp and alert all throughout retirement. Using your brain on a frequent basis can be wonderful for keeping your cognitive abilities. If you want to handle your finances and keep your mind effective at the same time, it may be good to look for a part-time job. Part-time work can be helpful to retirees who are searching for pastimes as well.

The last thing you want to do is spend wastefully during retirement. If you want to protect your finances, you have to be 100 percent proactive. You have to be on the lookout for new opportunities as well. It can never hurt to get guidance from adept retirement planning advisors.

Planning Your Budget? 5 Monthly Costs You Can Alter to Lower Your Spending

Preparing a budget is a great way to start getting your finances in order. If you actually want to start saving money or improving your finances, you will need to start making changes in how you spend money. 

In some cases, you don’t need to make cuts, but you can certainly lower some of your costs for the same thing. Here are five ways to alter some of your monthly costs to lower your spending.

Food

Obviously you aren’t going to cut out food entirely, but it is important to look at how you spend money on food. If you spend $10 a day on lunch, that adds up to between $200—$250 a month just on lunch alone. 

If you spend $5 a day on coffee, that’s $100—$150 a month. You don’t have to cut out eating out entirely, but the point of a budget is to budget the money you spend on eating out.

Cut the Cable

The average cost of cable in the US is around $100. Conversely, you can pay for several premium subscription services each month for less than $10 each. Even better is you can start and stop them on demand. 



You might want to do Hulu, Netflix and HBO for a few months until you get caught up on your favorite shows, then switch to Amazon Prime and Showtime for a few months.

Car

If you drive an SUV, you might consider switching to a smaller, more fuel efficient car. You can also check to see if you qualify for refinancing at a lower rate on your current auto loan. Another great way to save some money is to walk more, bike to work or take public transportation a few times a month. You might be surprised at how much you can save.

Pay down (or Off) Your Credit Cards

When you add up all the interest you pay every month on your credit cards, you might be shocked by just how much it is. In some cases people can be spending $200- $300 a month in interest alone. While it may only be $10 or $20 per card, if you have a number of store cards or credit cards with high limits, the interest each month can really add up.

Insurance

While getting quotes on insurance can be a pain, it’s something you should do at least once a year. While getting online quotes may be easiest, you might get better rates calling an independent agent, such as Bear River Insurance. Much like accountants, agents can often help you find discounts you didn’t even know you were eligible for.

You don’t have to give up everything good in life to lower your spending. In fact, by getting rid of some of the things that don’t actually matter much to you, you may find you have even more money to spend on the things that really do.

Things To Know to Get a Low Interest Car Loan

Once a person becomes capable to satisfy the basic needs for survival, it looks for certain luxuries. A person often tends to seek an up-gradation of living standards. Owing a car is one such instance. 

During the olden days, only the rich and privileged could afford a car. However, this is not the case today. Anyone from a sustainable financial background can afford a car, thanks to the several schemes and low interest car loan offered by the banks. 

You need to visit your nearest car showroom where you'll come across bank representatives. If you can meet up with specific criteria, you'll be furnished with the cost of the vehicle as a loan.

What amount of Loan Will You Be Granted?

Buying a car loan is not associated with your budget; however, EMI should not exceed 20% of your monthly income. You need to keep in mind that the loan has been given to you against the ownership of your car. 





If you fail to reimburse the loan, the bank has all the right to seize your car and sell it to recover the loan. However, you have to ransack the market to come across an authentic lender who will offer you a low interest car loan.

Tenure of the Loan

A bank furnishes the loan from anywhere between 1-7 years. It depends on your repayment capacity. Based on your financial ability, you can opt for the suitable tenure. The lower the tenure is, the lower the interest. Since the mandate is less, you have to pay a higher EMI, and hence you'll have count lesser interest.

How to Find a Low-Interest Car Loan

Mentioned below are some factors which will help you get a low interest car loan sanctioned:

1. Having A Secure Job: A bank will give more importance to your loan application if you have a stable job or you are holding onto your job for a long time. Changing your job signifies instability.

2. Having A Good Credit History: If you have a good credit history, you have more chances of having a low interest car loan and a good deal. Paying monthly installments on time and keep a good credit utilization ratio creates a good credit history.

3. Offer Deposit: Lots of bankers will be willing to lend you the full amount to buy the car. If you can afford a cash deposit or own a car to trade-in, you can borrow less and get a lower interest.

4. Shop Around: Never accept the first offer you come across, shop around and see what the different suggestions provided by different bankers. Question about the loan terms and whether the rates are fixed or variable and if there is any pre-payment penalty.

Documents Required

To get a car loan a person needs to produce certain documents such as a proof of identity for which you can provide your passport or a driving license. The person is also required to submit proof of age and recent passport size picture. 

For the proof of income, the person is required to submit the salary statement, at least 6 months of bank statement and income tax return. A residential proof is also required to avail a car loan.

Conclusion

On a different note, the market is filled with frauds. While looking for low interest car loans, beware of falling prey to fraudulent activities. When you are going to invest on something as expensive as a car, it is always smarter to buy from the trusted supplies and contact directly to the bank to avoid any fraud and miscommunications. 

Do a proper research and comparison before choosing a lender. Check the documents carefully and understand the terms and conditions before signing them and handing over to your bank agent.