An Unconventional Guide to Paying for College

20 Best Personal Finance Blogs for Young Adults of 2018

Posted by on Jul 24, 2018 in Saving Money | 0 comments

Top best blogs for young adults

We all learn math, science and English throughout grade school, and some of us go on to learn in college as well. One thing that no one gets the same lesson on is personal finance! Grade schools and colleges might have a class here or there about personal finance, but there is not a standard by any means. We each get our own lesson by watching our parents muddle their way through their own finances. The majority of us really do not want to end up like our parents, financially speaking.

Approximately fifty percent of Baby Boomers have less than $100K saved for retirement and according to AARP Gen X has on average $125K in debt, which includes credit cards, school loans, and mortgages. This is a perfect example as to why young people today really aren’t interested in receiving financial advise from friends and family older than them! Young people today are apprehensive about taking on any debt and they are right to do so.

Looking for classes or books on how to learn about personal finance really depends on your own personal situation and everyone’s situation is different from the next person. Everyone has their own advantages and disadvantages when it comes to where they start out financially in life. In order to help you navigate the vast amount of knowledge regarding personal finance, we have created a short list of a top 20 Personal Finance Blogs for young people to follow and learn from below.

In no particular order here are finance blogs that may help you find your own personal financial path.

 

The College Investor

TheCollegeInvestor

Blogger Robert Farrington started writing in 2009 and averages 5 blog posts per week. His niche is helping postgraduates get out of debt and helping them start investing. Some of his most popular blog posts are: 3 Ways to Make $50,000 Per Year Without Working With Passive Income, 50+ Ways to Make Money Fast With a Side Hustle and Secret Ways to Get Student Loan Forgiveness. I like that he shares not only tips for everyone, but opens up and tells people what he actually uses for his own personal financial needs.

 

Money After Graduation

moneyaftergraduation

Blogger Bridget Casey started her blog in 2012 and posts new entries several times a month. Her niche is in helping you figure out how to pay off your college debt and learn how to be in control of your financial life instead of being a victim of it. Some of her latest blog posts are: The Best Books to Gift a New Grad, How to Save a Down Payment for a House and How to Use the Debt Snowflake Method. She also offers e-courses. One of her courses Debt Crusher on debt elimination is free! Another course is on how to Build a Better Budget is pretty inexpensive at $47. Another course she offers is The Six Figure Stock Portfolio, which helps you learn how to build a portfolio. This class is $400, payable in two installments of $199 each. I love getting free debt advice and giving it as well.

 

Retire by 40

ReitreBy40

Joe Udo, formerly a computer engineer at Intel, said that the job became more and more stressful and he decided he needed to get out. He started Retire by 40 in 2010. He started his blog about his journey, mostly to keep tabs on himself to make sure he followed through and he was able to quit his full time job and leave corporate America in 2012. He now dubs himself Mr. RB40 says that just because he left the 9-5 does not mean that he does not work. He says he stays really busy with blogging and other things, like being dad and maintaining the house. He posts one to two times a week depending on his availability. Some of his most recent blog posts are School’s Out – First Grade is Over!, May 2018 Goals and Financial Update and Take a Peek Behind the Curtain – See How I Write a Blog Post. MR. RB40 shares his personal portfolio and his journey, and instead of starting out right out of college, this journey starts in his 30’s. With many people in different stages of life between their 20-30’s it is important to look at all pathways to being financial stable. His wife still works and they live off of his passive income, and Mrs. RB40 should be retired by 2020 and they will be living off his writing and their passive income.

 

The Penny Hoarder

ThePennyHoarder

Kyle Taylor is the founder and CEO of the Penny Hoarder website, which started in 2010. The website / blog’s mission is to improve the lives of regular people by allowing them to spend less time worrying about their finances and more time living their lives. The Penny Hoarder employs over 90 individuals and has many different writers, but the blog concept is there. The different categories that The Penny Hoarder focuses on are: Making Money, Deals, Food, Smart Money and Life. In all of these areas readers learn about how to pinch their pennies and save either with coupons, side gigs, budgets or college. Some of their most popular blog posts are: 8 Legitimate Paid Survey Sites to Make Extra Money Each Month, 12 Ways to Save Money and Add $5k to Your Bank Account this Year and 31 of the Absolute Best Freebies We’ve Ever Found Online. With multiple blog posts per day, if you are looking for a specific topic I’m gonna bet they have covered it!

 

My Money Blog

MyMoneyBlog

Jonathan Ping has been sharing his knowledge about money and finances since 2004. He might post once or twice a month, but that’s because he is busy living and loving life! He and his wife cut back to being half time workers and their passive income is enough to cover their household expenses, but they aren’t ready to retire just yet. This blog is about preparation and learning about your finances and retirement. His most recent blog posts are: Airbnb vs Hotels Price Comparison Chart, How to Retire Happy, Wild and Free (book notes) and British Airways Fuel Surcharge Settlement. What I love about this blog is that he doesn’t claim to be an expert, just a man trying to figure it out each and every day.

 

Frugal Rules

FrugalRules

John started out adulthood like many do, with piles of credit card debt, and he has become debt free and is a veteran of the financial services industry as a stockbroker. He wants to spread financial literacy, so the more people understand how to live within their means. Some of the topics Frugal Rules covers are: frugality, investing, debt, credit cards and online brokerages. Some of the most recent blog posts are: Are Side Hustles Worth the Sacrifice?, 7 Best Ways to Sell Your Old Stuff for Money and How to Invest in Stocks When You Do Not Know Where to Start. I like that he owns up to his debt from college and says that he wasn’t aware of living within his means, because that is where many people find themselves regardless of their age! Knowing the next step to living within your means is an important one.

 

Good Financial Cents

GoodFinancialCents

Jeff Rose is a self-proclaimed numbers geek. If you don’t love this guy after reading his about me page, you should just stop now, just stop it. He has credentials but also personality. If you can make finances fun that is a talent in itself! His site also has a Retirement Income Calculator, which I know there are plenty of those online, but not all are found on blogs. Some of Good Financial Cents’ most recent blog posts are: 87 Super Easy Ways to Save Money, CIT Bank Review and Best Insurance for College Students. Still trying to make a difference and reach everyone, Jeff also has a Podcast that might reach more young people than his blog, because what young person do you know that sits down to read about financial literacy? While owning up to his failures he makes it fun to learn about finances what to do and NOT do, sometimes from personal experience.

 

20 Something Finance

20SomethingFinance

G.E. Miller started blogging in 2007. He believes he has solved the financial matrix and he spends less, has less but insists he isn’t missing out on anything. He posts           a new blog entry about every week. Some of his most popular blog posts are: Money Savings Products I Personally Use, How to Pay Taxes with a Credit Card (and Profit) and The U.S. is the Most Overworked Nation in the World. I like that he started at the bottom, where most people find themselves when looking for a change in their finances. He moved for a higher paying job, he bought a smaller home; he sold his second car and started biking to work. He switched his purchases of products and services from ones that cost money to ones the create money. He talks about how to use your credit cards to earn cash back each month on purchases you are going to make anyway.

 

Everything Finance

EverythingFinance

This site was started in 2007 and while this blog site is more corporate run that is not to say that it doesn’t have some great information for young people. Great articles on getting started in investing, understanding your credit score and loans like mortgages or personal loans. Some of the most popular blog posts are: 5 Tips for Managing Bills as a Married Couple, 7 Summer Jobs You Can Do from Anywhere and Why We Bought a House When Renting was Cheaper.

 

Girls Just Wanna Have Funds

GirlsJustWannaHaveFunds

Ginger with Girls Just Wanna Have Funds for women entrepreneurs to use passive income to reach their financial goals. She started her blog in 2003 with the mission to teach women about how to earn their financial freedom because she has been there done that and wants to help you avoid those same mistakes! Some of her recent blog posts are Tight on Funds? Here’s What You Can Do!, 3 Ways to Fix the Mistakes of Your Younger Self and 3 Interesting Ways Other People’s Money Can be Good for Your Finances. While her site is geared towards young female entrepreneurs, that’s not to say guys can’t benefit from reading her blog too!

 

The Centsible Life

TheCentsibleLife

Kelly Whalen a mother of four has been blogging since 2009, she started The Centsible Life as a way to keep track of all the advise she had been given and read up on for ways to get her family out of debt. She soon realized that her blog was helping other people just like her trying to get out of debt too. Blogging quickly became more than just a hobby for her! Her site covers all things life and money. Your finances are tied to your health, food, travel, etc so just about anything where you spend money or it costs money or you can save money in life, The Centsible Life will write about it!

 

Money Smart Life

MoneySmartLife

Ben Edwards started Money Smart Life in 2006 to share his story about being in control over his spending. His journey began when he was only 12 year old and wanted a Nintendo and his parents made him work for his money to buy it. He worked hard to earn the $150 needed for the system, but when it came time to actually buy it, he decided not to. He claims to have cracked the Konami Code and chose instead getting the game system to invest his money and how it became addicting to him to check everyday in the newspaper how his stocks were doing. While not all 12 year olds are going to swoon over getting stock for every birthday and Christmas, that’s exactly what Ben did. This gave him a financial edge over his friends after graduating from college he was able to cash in stocks and buy his fiancé a ring, put a down payment on a house and pay for their honeymoon. He was ahead of the curve because of the decision he made when he was 12 years old. What I love about this story is how you can use this same advise and teach your children and or use it as personal advice to start controlling your own financial future right now.

 

Debt Roundup

DebtRoundup

Debt RoundUp was started in 2012 by Grayson Bell to help navigate his way out of debt and share his own journey at the same time. While Grayson isn’t a certified financial planner, he is a guy who dug himself out of debt one penny at a time. His site is to share his personal journey and provide tools to help you get started on your personal journey out of debt or learning how to manage and use their money to free them of the looming cloud of credit card debt. This site’s followers aren’t financial professionals but they are regular people sharing their successes, failures, struggles and ways they found worked! So if you are like Grayson and financed a Jetski and want to get out of the financial hole you are digging you will be in good company with the author and followers of this page. I might need to follow this one myself, as someone who went on vacation after losing my job and another time went ahead and bought the furniture when my roommate lost his job. Knowing you can make financial blunders and still get out of the hole is always good to know.

 

Wise Bread

WiseBread

Wise Bread is not rung by one person but instead a community of bloggers whose mission is help you live your life on a budget. The writers blog about Credit Cards, how to avoid them, how to use them to your benefit and how to manage them. They tackle the topic of personal finance and budgeting. They give tips on frugal living and life hacks and more. A few of their latest blog posts are 28 Free Ways to Entertain Your Kids This Summer, Best Money Tips: How Much You Should Spend in Retirement and These 8 Modern Car Features Are Riskier Than You Think. What is great about this site is that the community of writers have all kinds of different perspectives that they share while writing so while you might not agree with one blog post, there still might be another post that speaks right to you and your current situation. Just keep reading and see if you find a blogger or topic that is going to best fit what you are searching for!

 

The Simple Dollar

the simple dollar

The Simple Dollar was founded by Trent Hamm in 2006 when Trent was tired of ‘trying’ to get out of debt and was ready to make it happen for good. While working on his own debt he felt inspired to help others do the exact same thing by sharing the tricks and tips that worked for him. Now with a staff to help run the site and contributing writers they have more than one post per day to help you learn how to plan your financial goals for credit cards, loans, insurance, investments and banking. Having multiple writers is a great way to be more relatable to your readers by having lots of different perspectives writing each day that have different backgrounds and can share their own struggles and successes. Some of their most recent posts are: Ten Inexpensive (and Quick) Ways to Liven Up Cooking at Home, The Gap Between Your Goals and Your Actions and How to Plan a Really Cheap Weekend Getaway.

 

Broke Millennial

BrokeMillennial

Erin started Broke Millennial to help young people figure out how to get out of debt and #GYFLT (Get Your Financial Life Together)! She explains that she learned at a very young age the value of a dollar after working hard to earn it and this life lesson helped her through college and she graduated with zero college debt! Learning how to get your financial life together happens differently for everyone and if reading all of these blogs isn’t quite you style, check out her youtube show where she breaks it down in quick videos for you. I love that she addresses one of the big things about young people… umm they don’t really read much! They want information and they want it NOW! Being able to get the same information watching a quick video is time well spent rather than fifteen minutes of reading articles. Everyone learns differently, and I am just glad someone recognizes this!  Some of her latest videos on YouTube are: 5 Pieces of Money Advice to Ignore, The 2 Easiest Ways to Pay Down Debt and Mastering Your Bank Account. Her mantra is “It’s time to get your financial life together. It doesn’t need to be terrifying. It just needs to be done.”

 

Financial Samurai

Financial Samurai

Finding it hard to get motivated to get out of debt or earn more money? This is where the story of the Financial Samurai begins. Sam Dogen was working in Corporate America waiting for that next big raise wasn’t a driving force, but finding a way to life free was motivation! What does living life free mean? It means something different to each person, but here it means spending time with family, travel and have little worry about finances. Starting the blog in 2009 it only took 3 years to make the jump from employee to self-employed. Sam’s experience shows that even if you make the right choices and invest and get educated you can still fall victim to financial disaster. He suffered financially from the financial crisis and with money no longer as a motivator; living life by his terms is what mattered most. Now he writes for his blog and is able to save and is control of his financial life, and he shares his knowledge about investing, negotiations, starting a blog, financial products and wealth management.

Taking financial advise from someone who is well educated on this topic is never a bad thing, but knowing how they have personally made their success and worked through their failures is important. Why would you take financial advise from a guy behind a desk with an office? Do you know his credit score? Do you know his debt to income ratio? Nope. If you do not know someone’s ability to manage their own financial life, why would you take their advice?

 

Nerd Wallet

NerdWallet

Tim Chen is the CEO and founder of NerdWallet, he started the site in 2009. Tim states that he has made many avoidable financial mistakes and while some mistakes cost money, others cost time. Either way sharing way to avoid making these mistakes to others was a passion of Tim’s and thus NerdWallet was started. NerdWallet now has roughly 285 employees and their site covers topics like: credit cards, banking, investing, mortgages, loans, insurance and money. Topics for each may be finding the best credit card for your situation, how to start investing or how to earn more interest with your investments. Taking the financial advise from a blogging standpoint to a full grown company with employees is quite an achievement from someone who is honest about making financial blunders. It is always good to know you can make mistakes and still find success down the road.

 

Club Thrifty

ClubThrifty

Holly and Greg Johnson who were previously in the mortuary business founded Club Thrifty in 2012. Through hard work and by not listening to other people they pursued their goals and soon started living their dream life. Having kids and working full time jobs and working a side hustle wasn’t easy, but knowing you can only fail if you quit trying they knew that this was their ticket out of their financial struggles. It didn’t happen over night but they worked their way out of debt and soon found that living life without debt and huge interest payments you can actually afford to LIVE! Their blog’s niche is about you stop spending and start living. You can often learn a lot about how to travel on the cheap and learn about how to use credit card points to help cover the majority of your travel costs. What is exciting about this blog is that with no financial background and a family to support they were able to work together as a team and now work from home or a beach or a foreign country to support their family.

 

The Minimalists

TheMinimalists

The Minimalists’ founders Joshua Fields Millburn and Ryan Nicodemus started their site in 2010 after a realization that having it all, the money, the houses, the cars, the 80-work week still left them unsatisfied. They were not in control of their lives. This led them to begin taking control over their lives through minimalism. Their story didn’t start there, they are long time friends who both grew up poor and both found their lives needed change and decided to take control over their lives with minimalism. A few of their top blog posts are: New to Minimalism? Start Here, 30-Day Journey to Minimalism Game and Tour Joshua’s Minimalist Apartment. The Minimalists also have a podcast, books, films and tour to help inspire people to take control over their lives by not allowing all the ‘stuff’ to control their lives. What I like about this blog best is it speaks to how to live life and not focus on keeping up with the Jones next door. Living life as a minimalist does not mean you go without, it means you are fulfilled by other things in life other than ‘stuff’.

All of these blogs have something to offer people, whether you are starting out in life right out of high school, graduating from college or are already married with kids. Take some time to find a blog that speaks to you and your financial goals in life. If you don’t like to do a ton of reading, find one that has a podcast. It is never too early or late in life to start taking control over your financial future, so start now!

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College Side Hustles: How to make money from writing

Posted by on Apr 13, 2018 in How to Pay College Tuition, Saving Money | 1 comment

writing for money

With the rising cost of going to college, working while going to college is more the norm than it used to be. After the housing market recession students are more aware of their financial situations and trying to keep from graduating with mounds of debt. Many will try to pay for their classes during the semester after securing a student loan to cover the upfront costs. Students have crazy class schedules that can make it difficult to find employment to help cover their bills.

Freelancing:

Students often don’t realize that they have a skill that they have been developing for years, writing. From grade school through high school students have been working on mastering the skill of writing, whether they wanted to or not. Being a freelance writer can be the ‘write’ fit for a lot of students. Freelancing works around your crazy school schedule because you can write for a client a 2 am or at 10 am between classes. You can literally work wherever with your laptop by your side and Wi-Fi on campus.

Job Market:

You can find a job just about anywhere. There are job boards created just for freelancers. Every website on the Internet has content that they either need to update or create. Some sites will pay top dollar to have great content. Others will pay low rates but spend more time correcting and editing a freelancer’s work. There are a myriad of types of contract work available.

Pay for writing depends a lot on the content being written about and the experience of the writer. As a freelancer you can decide what your time is worth when you write. Some content positions will pay $0.05 per word; others can pay up to $0.25 per word. If a client asks you to write a 1,000 word article you charge them $.05 and it takes you two hours two write maybe a little longer you have just earned $50. If you were working for minimum wage you would need to work about 7 hours to earn $50. Clearly the minimum starting pay for writers is better than the US minimum wage. If you write faster, the higher your hourly rate is.

Experience isn’t always required. You have papers you have written for college and other projects, this is already a beginning of a portfolio. Just because it wasn’t paid work doesn’t mean it can’t be used to help get you that first writing job.

There are inexpensive classes you can take that will teach you how to become a freelance writer. Earn More Writing is an example of this type of course. It has several levels of courses you can take and can be done in a relatively short period of time. You are also learning from someone who currently makes a living at freelance writing, who has taken the time to share her knowledge.

While you can figure out how to freelance all on your own, you will save time, energy and money by taking a course on how to become a freelance writer.

What Should I Write About?

When you are just starting out you should write about topics you already know about. Maybe you just took a class on a subject that really interested you; this is a great starting point to build a portfolio. You shouldn’t write about things that do not interest you as your writing may be affected by your lack of interest for the topic. Keep in mind if you write about something that isn’t fun the rate per word could be higher, so you could earn more for your work.

Pitching clients can happen in lots of different forms. You can send cold pitches to websites or companies. You might not hear back, but then you might hear back right away. Dealing with rejection or just no reply at all is a good thing to learn early on.

Having an Online Presence:

Creating a portfolio of your work doesn’t have to be fancy. You need a simple site, and you can even use a WordPress site for free to begin to market your writing. Create a bio explaining you are in college and what your interests are and you can link some of your writing you have done for school to start in your portfolio. Once you get some online published work you will want to add this to your portfolio.

Freelancing while you are in college is a great way to earn some side money or even enough to pay your tuition. The ability you have to market yourself and time you have available are really the only things you need to get started. You can write whenever and wherever. The flexibility is endless when it comes to freelancing.

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Why Use Comparison Sites to Guide Financial Decisions?

Posted by on Dec 19, 2017 in Saving Money | 0 comments

choice

Financial decisions cause us an inordinate amount of stress. From small financial worries – like how to budget for day-to-day expenses – to large financial worries – like when and how to invest – can be stressful enough to send us into a tailspin. It doesn’t help, of course, that there are so many options and possibilities out there. With financially-minded technology it feels like there’s a new product, service, or bank to consider every day. This can add to the stress we’re already feeling and cause us to do one of two things:

  1. Shut down completely. If we’re feeling overwhelmed, we may come to a standstill. This isn’t helpful because we won’t be able to make an effective decision that meets our financial needs or solves our problems. We might lose money, pay too much in fees or interest if we refuse to change banks or services, you name it!
  2. Make a snap-judgement decision – that’s wrong for us and our situation. We’ve all made poor financial decisions in the past and it’s never fun. If you make a judgement call without knowing all the information, or based on bad information, you could truly cause yourself financial harm.

Obviously nobody wants to make bad financial decisions, or to not decide at all, but these things happen. They happen a lot more often when we’re overwhelmed or stressed out.

What makes a bad decision “bad”?

good or bad

A bad money decision doesn’t necessarily mean that it’s truly bad. It might not just be the best decision for you. If you make a call that either loses money or doesn’t make you as much money (or save you as much money) as another decision could have, it’s probably a “bad” decision. You want to be living your best financial life, not walking the line between mediocre and great.

Several things come into play when you discuss making a poor financial decision. Often it has nothing to do with the intelligence of the individual. Usually it’s a result of many other factors. Here are a few things that play into your bad financial decision making:

  1. You’re emotionally invested.
  2. You feel like you’re making the right decision because someone you know made a similar decision.
  3. You’re choosing to work with a company, brand, or financial institution you’ve worked with in the past without researching their services.
  4. You went with the company that advertised to you.
  5. You didn’t do enough research.
  6. You did too much research and became overwhelmed – leading to a rapid-fire judgement call.

These are just a few of the reasons you might make a bad financial decision – or even just a decision that wasn’t the best fit for you. This may leave you feeling even more overwhelmed then before. “How am I going to make the right decisions if literally everything I do will somehow get in my way?” you might be asking. Luckily, there is a way around several of these human errors when it comes to money decisions: doing the research ahead of time on impartial comparison sites.

How do I do my research the right way?

researchThis is a common fear. You’re always going to run the risk of over-researching different products, services, or companies and end up committing to the wrong one – or, the wrong one for you. But comparison websites really do help.

Their value comes, in large part, from their ability to remain unbiased. The reviewers on the website you’re looking at likely don’t have an emotional connection to the products, services, and companies they’re reviewing. And they don’t have an emotional connection to your unique financial dilemma – they don’t even know you!

This gives them the ability to provide excellent, thorough, documented research that compares different services, products, and companies. As you wade through this research there will be a temptation to discredit it. That’s fair, and you should look at several review and comparison sites before making a final decision. However, the truth of the matter is that very few reputable comparison and review websites provide you with faulty information. Their sole goal and purpose is to empower you to make the right decision – regardless of how you may feel.

Take the guess work out of decision making – and save money.

Comparison and review sites help you take the guesswork out of research. They give you the cold, hard facts and help guide you towards an answer that solves your financial problems. More importantly, they’ll empower you to work with new companies, try new products, and experience new financial services that can legitimately save you money. You’ll either decrease your spending or find ways to grow your wealth – and that should always be the goal when making a scary financial decision. Comparison and review websites can help get you there.

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How Small Investments Can Turn into a Meaningful Savings When You Are a Student?

Posted by on Nov 7, 2017 in Saving Money | 0 comments

invest money

It is not uncommon to find student with a small debt or a big one in college. When contemplating how to get out of debt and ultimately, transition into the ability to become an investor, one has to make a dramatic shift in their finances in order to get ahead. Consider the following recommended steps to get out of debt and then position yourself in order to make a substantial amount of capital.

Debt Elimination

Debt elimination is the first necessary step a student should take before deciding to invest. It is essential to pay off high interest credit cards that typically have a 30% interest rate before even considering saving and investing. Additionally, it is beneficial to pay off personal loans or any student loan that have high interest rates before trying to pay money into a savings account. Once the debt is eliminated, it is wise to then set money aside for a savings cushion in order to pay your future college tuition payment or to allow for the unexpected to happen.

Three Months of Wages in Savings

Before investing in any options, it is best to have at least three months of wages in savings. Once there is enough in savings, then one can consider the best way to invest other money. Those students that fail to save will find it very difficult to get out of debt in the long term because they will never have a support system of finances to assist them should them need it. Their savings is vital should they decide to avoid high interest credit cards and personal loans all together.

The Recommended Quantity of Savings per Month for Students

In determining what is the proper amount of capital to save every month, it is essential to ascertain what one’s income from their part time student job, in relation to what their realistic living expenses are including their college tuition payments. The recommended savings amounts can range anywhere from $10 to $500. What is important to consider with this calculation is that even saving smaller amounts of capital per month absolutely is worthwhile because it will add up in the long term. What makes saving difficult is that the smaller amounts of savings are going to take longer to amount to a substantial amount of money. Typically, it is only through saving amounts in excess of $500 should one look into the possibility of entertaining the notion of investment and forex trading. The reason for this is that the currency trading market has very high stakes and the prospective investor should not be worrying about losing capital in order to be ready to be making such expensive and high profile trades that have very high risks associated with them. Perhaps an investment with low risk can be more adequate for students at this point. However, one can choose to make an investment with higher return. Be sure to know that the risk is higher as well.

High Risk Investments

For those student who are more advanced investors and that do have the potential to lose a great deal, currency trading and binary options are the latest potential ways to make a substantial amount of money. Currency trading requires specific level of knowledge in order to make substantial gains. Where this type of trading becomes very high risk is between individuals that do not know enough about the market in order to make sound trading decisions.

Binary options are a form of investing that should be avoided because there is a great deal of risk associated with these transactions that makes it very difficult to make substantial gains without incurring a great deal of loss. Binary options are reserved for the experienced traders that work at reputable companies. Should one have any doubt about the integrity of a financial company, they should not trust their binary options are very unregulated in markets that are outside of the United States. Where binary options are quite difficult to get ahead is that they are the notion of buying an option on a stock that will be profitable if the market swings in a certain way. Thus, there is a potential that an investor may not even make a profit. Instead of utilizing binary options, investors should be focusing on a more ownership based strategy to do well in investing.

Concluding Remarks on the Subject

To conclude, it can be quite difficult to get out of debt, especially in college. The reason that it is so difficult to get out of the red is that there is a vicious cycle that continues when a student spends more than they have and then pays subsequent interest on those charges. The best way to get out of debt is to pay off the high interest debt, save at least three months of wages, and then consider the amount of savings per month towards investing should the student have the requisite capital to do so. Then, if he has sufficient capital to invest, they will then be able to get ahead in their investments with potential currency trading strategies. That being said, these strategies are best left to the experts in order to get the best possible results for financially qualified individuals.

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Should You Buy a Home During College?

Posted by on Sep 21, 2017 in Saving Money | 1 comment

buy a house

Having your own home comes with a wide range of benefits. There are tax deductions you can take as a homeowner. The cost of a mortgage is often less expensive than the cost of renting. You can gain an income if you choose to rent out a portion of the home. You’ll be building equity rather than just “paying rent.” These are just a few of the reasons out there that prove that home ownership can be a huge benefit to you as an individual. However, there are also many drawbacks. So, when is the right time to commit to buying your home?

Buying a Home During College

Owning your own home gives you peace of mind. You will always have a place to stay, there will be no moving around from apartment to apartment. You’ll also know that you’re building equity and investing in your choice – another set of benefits that will add value to your life. In recent years, there has been a trend of college students striking out and buying a home during their school years. But is this even a possibility? And if it is – is it wise?

College-age students have many reasons that could spur their desire to buy a home. First, real estate is a fantastic investment. If they choose not to stay in the area after college, they can always turn their home into an investment property. Even when they are staying there, if their home has more than one room, they can rent rooms to friends or other reliable, trustworthy tenants to make an income and pay for their mortgage payments as well as the cost of owning a home (like maintenance, etc.)

Additionally, college students who purchase a home often end up saving money in the long run. Rent in college towns can be very expensive. Rental agencies and leasing companies have the advantage – they know that students need housing, there is usually less housing available than is needed, and so they can increase prices to a very high rate. A mortgage will likely have a less expensive month-to-month payment. This helps college students cut back on costs. Additionally, if they do choose to rent out rooms, they can put the extra rent money back towards their mortgage, effectively paying it off much faster. Renting your rooms (or even the entire house) while taking an overseas job during your gap year, could really mean one year of huge savings.

Of course, there are also drawbacks to buying a home in college. If you are college-aged and can’t afford a down payment for a home, or if you don’t qualify for a good interest rate on your mortgage loan, don’t purchase a property. Of course, it also goes without saying that home ownership comes with challenges. You will have to be willing to put the energy into fixing up the place for renters, making any necessary repairs, etc. This added responsibility may not be what you’re looking for.

When Else Should You Consider Buying a Home?

buying a house

There are no hard and fast rules as to when you should or shouldn’t buy a home. However, a few good guidelines are:

  • Consider buying a home if you’re currently in a “buyer’s market.” If houses are selling for much less than their value and you’re willing to sit on your investment for a while before selling, buying a house or a property may not be a bad idea.
  • Build up enough savings for a down payment. Whether you have 10%-20% saved, make sure you have at least a reasonable portion of the overall home’s value saved up for a house down payment. This often helps you to lock in a lower mortgage rate, it helps you to take out a smaller mortgage loan, and it reduces your overall debt. Is never too early to start saving.
  • Consider buying a home if you’re in a good area where the rental market is good. This is why college towns are such good candidates for purchasing homes at as a college-aged individual and using them later in life as a rental property for extra income. With rents constantly increasing, you’ll likely be able to make an income on your property or pay it off much faster if you purchase in an area where the rental demand is higher than the house-buying demand.

If you’re a recent graduate, or you’re currently in college, you may be in the prime time of your life to purchase a house. If you’re considering taking this step, ensure that you’re financially capable of doing so. Finally, ensure that you’re purchasing a home that’s worth purchasing. In other words, don’t jump on the first one you find! Take your time and weigh your options – real estate is an excellent investment, but only if you invest in excellent real estate. Look around carefully and find the home that best fits your needs and budget. Only you can make the best decision for your financial future.

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The Best Jobs to Do During Your Gap Year

Posted by on May 18, 2017 in Saving Money | 0 comments

job search

Whether you’re looking to take a gap year before you attend a university or after you’ve graduated university (and before taking on a long-term employment opportunity), there are a wide variety of exciting options out there for you. One major consideration for those looking to take a gap year is employment. Obviously, you’re not looking for something that’s a full-blown career position, but financing your travel is a must. So, what kinds of jobs exist for the traveler looking to do something interesting during their gap year? The answer is that there are many kinds of positions available to you, all of them holding a unique value (and all of them providing steady financial security during this time of your life).

Teaching English as a Foreign Language (Or Any Language)

If you’re interested in travelling with pay (and possibly having some of your expenses paid for) teaching English as a second language might be a good option for you. In fact, there is a need for foreign language teaching around the globe, so even if your first language isn’t English there’s a good chance that there is something out there for you.

Organizations like Go Overseas help people find language teaching jobs abroad through specific programs. While some countries are more difficult than others to teach in depending on the kinds of government programs and visas they have set up on behalf of the international language teachers coming to their schools, it’s worth considering.

Consider WWOOF (World Wide Opportunities on Organic Farms)

WWOOF is an amazing organization that offers travel opportunities to individuals willing to work on an organic farm in exchange for a place to stay, or some of their expenses covered. It’s not necessarily a full-time job, but it does provide a unique opportunity to see the world from an entirely different perspective for your gap year. Additionally, WWOOF’s mindset of promoting excellent cultural and educational experiences is one that you can get behind during your gap year. What better time is there to travel and experience new things?

Tour Leader

If you’re looking to spend time in an amazing place, why not share your newfound love of your new gap-year home? Becoming a tour guide is easy, and you’ll learn so much about the place you’re staying. Some companies operate exclusively in specific countries or areas, but others are more generalized and you can search for employment based on where you want to go during your gap year. Not only will you be getting paid to travel and explore your new city, you’ll be able to share the exciting new information with people who are just as excited to be there as you are!

Consider Freelancing

Do you have a special skill or just a large amount of free time on your hands? Freelancing may be the best option for you. First of all, freelancing doesn’t tie you down to one location during your gap year. You can work from wherever you want, which frees you up to do more travelling and exploring. Additionally, freelancing comes in all shapes and sizes.

There are freelance writers, accountants, virtual assistants, social media specialists, graphic designers, writers and more. You set your own rates and determine your own hours, so by taking on just a few clients you can successfully keep yourself afloat while you travel during your gap year. Who knows? Maybe you’ll decide the freelancing way of life is the life for you long-term!

Work on a Cruise Ship

No, you don’t need to know how to captain the vessel to work on a cruise ship. Cruise ships are often hiring for staff, and what better way to see some amazing locations and meet interesting people? Try checking out Yacht Crew Wanted to find a cruise in your desired area and to see what positions are available. Not everything will be wonderful, and you may have to take a job cleaning up the rooms guests stay in, but you’ll be getting paid (and usually given room and board on the ship for free) to travel and see the world. What better way to spend your gap year?

These five unique jobs are all available to people looking to take a gap year, and all of them provide interesting benefits. Decide what you’re looking for in your gap year – whether that’s travel or fully immersing yourself in a different culture abroad for a full year – and narrow down your options from there. You may even find that you’re open to more temporary employment possibilities once you hone in on your interests and where you’d like to be located. Wherever you end up, and whatever job you end up doing, make sure you’re taking the time to fully enjoy yourself before diving in to your next stage of life.

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