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April 2014
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How Do You Save Cash Padding?

Being self-employed means that I only feel comfortable if we have 6 months of expenses saved up in easy-to-access savings accounts.  The trick is finding the money to save, right?

Our Finances

In general, we have a pretty large monthly nut compared to what we were used to a few years ago.  Between income taxes, property taxes on two homes, home owner’s insurance on two homes, the mortgage on our main home, and HOA dues on our main home, we already say goodbye to nearly $5000 a month.  We spend another $1500 a month for the rest of our bills like food, utilities, and car maintenance and splurges like cable and lawn care.  That means that we need to bring in more than $6500 a month if we want to save anything extra.

We always are able to put at least $500 away, but I like to strive for $1500 or more.  How would you sock away at least $18,000 extra a year?

Options

The only way to make a gap between how much you make and how much you spend is to either spend less or make more.  If you have something like a structured settlement, try calculating the buyout of a structured settlement to see if that cash would cover your targets or not and look at the benefits vs the rewards.

We could spend less, but even if we cut out all of the big splurges, we’d only have around $500 extra a month.  To save $1500 a month for our Roth IRA’s and to build cash reserves, we aim to make more.  Generally we either do it through our main business or through our side hustles/hobby jobs.  We can’t really control our online income from ad deals other than by doing our jobs well (it fluctuates between $5500-$10,000).  We also can’t control our rental income much either – it’s set at around $1800 a month.  So we usually try to control how much we make on the side instead.

My husband officiates sports like varsity football and softball.  I freelance write for other blogs, baby sit, and now I have started pet sitting regularly.  Between the two of us, our hobby jobs bring in an average of $1000-$1500 a month.  That’s generally what we make sure to save for our cash or investment targets.

How do you make the gap between your income and expenses?

Taking A Step Towards A New Credit Card

This post was by a guest.

Credit cards are one of the most popular methods of payment across the United States.  Unfortunately there are situations, such as the case of Schnucks credit card data breach as reported by LowestRates.com, which can potentially expose credit card numbers and personal information of cardholders to scammers.  In these situations, Americans . . . → Read More: Taking A Step Towards A New Credit Card

Editions with Terry Bradshaw Presents 5 Ways to Keep Your Family Healthy This Winter

If you have a family with children, you know that if one gets sick, it can mean the whole family is sick within a week.  As such, it is so important that you keep your family healthy this winter.  Editions TV has some great tips on how to keep your family healthy this winter.

Here are five . . . → Read More: Editions with Terry Bradshaw Presents 5 Ways to Keep Your Family Healthy This Winter

Why remote working makes sense for employers and employees

If you’ve ever been allowed to work from home – or you work remotely regularly – then you’ll already know all about the benefits of not a needing to go into the office every day.

All the usual office distractions are removed instantly, which improves productivity, while companies can save money by downsizing the office space they . . . → Read More: Why remote working makes sense for employers and employees

Be the Person Your Dog Thinks You Are

I sat down on the potty and, as usual, my Pug had to paw his way in the door and plop himself directly between my calves like he was standing guard.  I usually shoo him away a little so that I can at least pretend  I have some privacy, but he just looked so proud of . . . → Read More: Be the Person Your Dog Thinks You Are

Love Your Bank Account this Valentine`s Day

The following is a guest post.

Whether you are planning an extravagant Valentine’s Day, or giving that special someone something simple and from the heart, don’t forget to consider something else this February – your bank account.

Although your bank balance isn’t always at the forefront of your mind when it comes to Valentine’s Day treats, paying extra . . . → Read More: Love Your Bank Account this Valentine`s Day

Thinking of a New Credit Card?

The following is a guest post.

If you’re like me, you become pretty disappointed in what your current credit card is offering.  Banks have a secret they don’t tell you, but you could probably guess – they offer their new customers much better deals than their existing customers.  And slowly, over time, as you become an existing . . . → Read More: Thinking of a New Credit Card?

Advantages Of Overseas Property Investing

The following is a guest post.

There are a lot of investors trying to broaden their investment portfolios by buying real estate in overseas countries.

Lower Costs For Building

The property investments overseas can be a whole lot more affordable than buying real estate in the United States. The housing bubble here drove price up to incredibly high levels. Commercial . . . → Read More: Advantages Of Overseas Property Investing

Are you on Santa’s nice or naughty financial list?

The following is a guest post.

He knows when you’ve been sleeping, he knows when you’re awake and he even knows when you make poor financial choices. With Christmas coming, it is time to take stock of your financial situation.

Santa Claus might have hundreds of elves working round-the-clock to make toys and gifts, but you are not . . . → Read More: Are you on Santa’s nice or naughty financial list?

Finding The Best Mortgage Rates

The following is a guest post.

There are some critical factors that every home buyer needs to know when trying to find the best interest rate on a property.

Take The Time To Go Loan Shopping

It always pays to do your due diligence when in the market for a mortgage. You need to be willing to take the . . . → Read More: Finding The Best Mortgage Rates