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Understanding the 60-20-20 Budgeting Rule

When it comes to budgeting, people make use of rules that work best for them. And for a budgeting rule to work for you, you must understand everything about it. The 60-20-20 rule is one of the many budgeting rules most people use. It is effective for most, while some find it unrealistic. Before you go ahead to use the rule, here's a detailed article that gives you a full understanding of the 60-20-20 budgeting rule.

What Is The 60-20-20 Rule?

The 60-20-20 rule is a percentage budgeting method that guides you on how to allocate your income to different spending categories. The rule states that 60% of your net income should be spent on needs, which includes the necessary daily expenses you make. Your daily expenses can include fixed and recurring costs. To put it more clearly, here are the expenses that can be included in this category: - Transportation costs - Mortgage payments or rents - Car repair and maintenance - Groceries - Utility bills - Student loan payments and other debts - Electric and phone bills Next, 20% should be allocated to your wants. List out all the things you want to buy or things you enjoy doing. Some examples include shopping, traveling, and dining out. Make sure you spend no more than 20% of your income on them. The final 20% is to go into your savings account. You can decide to fund your retirement account with 20% of your income or save for emergencies. Most people save direct this percentage of their income to their investment accounts.

How The 60-20-20 Rule Works

The 60-20-20 budgeting rule follows a simple technique which makes it popular amongst people who budget. If you're considering using the rule, here's how it works: Allocate 60% Of Net Income To Important Expenses The 60-20-20 rule recommends spending 60% of your salary on necessities which include groceries, transportation, utility bills, and housing costs. Necessities differ from people to people. So request a bank statement, study it, and make a list of all the expenses that are necessary for daily living. Most people include debt repayment in the 'necessity' category. However, it depends on your financial situation. If your debts are low and can fit into a 60% budget, go ahead and add it. On the other hand, if you owe a lot in debt, you might need to change the budgeting rule you use or modify the 60-20-20 rule. Allocate 20% To Wants Once you have allocated funds to the most important expenses, there'll be 40% of your income remaining. Out of the 40%, spend 20% on things you enjoy doing. Some of the things to include in this budget category include: - Concert or movie tickets - Shopping for clothes and skin care products. - Weekend trips - New home appliance - A gift for a friend or family - Gym Membership and more 20% To Savings After budgeting for your needs and wants, set aside the remaining 20% for savings. The savings can be for an emergency, a house downpayment, retirement, or investment. But rather than save towards something, most people with high-interest debts channel 20% to debt repayment. So it depends on your financial situation. However, it is often advisable to pay off all your debts before creating a savings goal. Once you clear off your debts and build a good credit score, you can always take out more loans in the case of an emergency. Another Interesting Article: How Many Months Of Emergency Fund Is Enough?

How To Get Started With The 60-20-20 Budgeting Rule?

If you plan on using the 60-20-20 method, here's a guide on how to get started: 1. Get your bank statement and review all your expenses. If you find this stressful to do or can't deal with numbers, use a budgeting app that simplifies this process. 2. Calculate Your Net Income If you're paid on an hourly basis, know how to convert your hourly pay to a monthly payment. Here are articles that convert your hourly rate to monthly/annual income. - $13 an Hour is How Much Per Year? - $14 an Hour Equals How Much a Year - $15 an Hour is How Much per Year? - $17 an Hour is How Much per Year? - How Much Does $18 an Hour Equal Per Year? (Can You Live Off It) - $23 an Hour is How Much per Year? Once you calculate your salary, pay your taxes to your net income. However, if you're a salaried employee, the amount that is deposited into your account is your net income. 3. Categorize Your Expenses Your bank statement allows you to view all the expenses you make in a month. Once you make a list of your expenses, divide them into three categories - needs, wants, and savings or debt. - Needs should include expenses that are important for your daily living. Do not include expenses that you can without. - Wants are things that you desire to spend money on - Savings include the amounts you put into a retirement account or emergency funds account - Debts are money you owe 4. Budget 60% To Needs, 20% To Wants, and 20% To Savings or Debt Once your expenses are categorized, allocate 60% to needs, 20% to savings or debt, and 20% to wants. In the case where your needs require more than 60% of your income, you have two options - cut down on expenses or modify the rule. You can take funds from the amount allocated to wants.

60-20-20 Rule Example

Here is an illustration using the 60-20-20 rule: Susan’s salary after tax is $3,500 monthly, here’s how she uses the 60-20-20 approach during budgeting. - 60% to daily living expenses is $2,100 - 20% to wants is $700 - 20% to savings or debts is $700 Susan Monthly Income NEEDS NON-NECESSITIES FINANCIALS Housing costs $800 New clothes $100 Monthly debt payment $500 Gas $200 Concert tickets $120 Savings $200 Groceries $500 New shoes $50 Phone bills $100 Birthday gift for a friend $70 Transport Costs $200 Travel to new places $200 Electricity $200 Eat-out $100 Internet $100 Total $2,100 Total $640 Total $700 Balance 0 Balance $60 Balance 0 From the above table, it can be seen how Susan uses the 60-20-20 rule. Since there is a $60 balance from the ‘wants’ category, Susan can choose to do whatever with it.

Why Is The 60-20-20 Rule A Good Budget To Use

The 60-20-20 rule isn't the most popular budgeting rule. However, it is beneficial in several ways. If you're skeptical about using the rule, here are some good reasons to use it: 1. Simple and easy to implement Most budgeting methods often require deep-level thinking and planning. But you only have to allocate funds to categorize expenses when using the 60-20-20 rule. 2. All Inclusive The 60-20-20 rule considers every expense you're likely to make, and it enables you to allocate your income to them. 3. Less Restrictive Most budgeting rules are debt or saving-intensive without giving room for non-necessities. However, the 60-20-20 enables you to budget for needs, non-necessities, savings, and debts. 4. Flexible and More Free The rule is flexible and can easily be modified to fit your financial situation. Regardless of the financial problem you face, the rule can help you sort it out. For instance, if you're in debt and need to pay it off, allocate 20% of your income to debt, if you need to create an emergency funds account, put aside 20% of your income, and if you need freedom to spend on non-necessities, the rule gives you the chance to do so.

Who Should Use The 60-20-20 Rule?

The truth is, the 60-20-20 rule isn't for everyone. Although it's simple and comes with tons of benefits, it doesn't work for everyone. So before you decide to adopt the rule, here's a heads up on who should use the rule. 1. Low Income Earners The 60-20-20 allocates over half of your income to necessities. So as a low-income earner, this rule allows you to budget for all that you need for daily living. 2. People With Little Or No Debts Only 20% of your salary goes towards debt repayment. So if you have little debts to pay off, this rule is suitable for you. 3. People With No Strict Financial Goals If you want to live a simple life with no plans on becoming the next wealthy person, use the 60-20-20 rule. It allows you to spend on things you need and enjoy. The rule does not allocate a high percentage of your salary to savings or investments.

Who The 60-20-20 Rule May Not Work For

If you fall under any of the following categories, the 60-20-20 rule may not work for you. 1. High Income Earner The 60-20-20 budgets 60% of income to necessities. This can be considered 'too much' if your monthly income is high. You may need to go for a budgeting plan that allocates a lesser percentage of income to necessities and other categories. 2. Someone with high-interest debt If you have a high-interest debt to pay off, you need a budget plan that is debt-focused. The 60-20-20 rule only budgets 20% to debt - this isn't enough to get you out of your debt. 3. Someone with financial goals If you have financial goals to achieve, the 60-20-20 rule is not a recommended plan to use as it does not allocate much to savings.

How To Make A 60-20-20 Budget Work For You

The 60-20-20 rule does not work for most people because they use the rule in the wrong way. Here are some guides on how to make the 60-20-20 rule work for you. 1. Set automatic deductions each month Most people budget 60% of their income for necessities but end up spending more than 60%. To avoid this situation, set up automatic deductions with your bank. Once you receive your salary, 20% immediately goes to your savings account, the other 20% can be transferred to another account. Thus, leaving you with only 60% for necessities. In this way, you'll end up sticking with the 60-20-20 rule. Related: How to Set Up Automatic Savings and Put Your Savings Money on Autopilot 2. Modify the rule to fit your financial situation If the 60-20-20 plan cannot work in your situation, modify the rule until it fits. The purpose of the 60-20-20 rule is to find a simple and efficient way to help you manage your income. So it doesn't matter how you modify the rule. What matters is that you manage your income efficiently. Another Interesting Article: 18 Best Budgeting Methods That Actually Work

Top 5 Tips For Successful Budgeting

Regardless of the budgeting method you choose to adopt, these tips will help you. 1. Budget for your financial situation: Always consider your financial situation when making a budget plan. In addition, set realistic and attainable goals. 2. Review your budgets once in a while. This enables you to find ways to cut down on certain expenses and save money. 3. Stay Committed: One of the keys to a successful budget is commitment. Hence, make realistic plans, and stick to them to achieve good results. 4. Use Online Tools: There are apps and online tools dedicated to the different budgeting rules/methods. For example, the YNAB app uses a zero-based budgeting method, HoneyDue is suitable for partners budgeting together, and GoodBudget uses the envelope budgeting method. 5. Set Financial Goals: The financial goals you make help you determine what budgeting rule/method to use. It also drives you to stay committed to the plan.

Other Popular Budgeting Rules

The 50-30-20 Rule This rule gives 50% of your income to necessities, 30% to non-necessities, and 20% to debt repayment or savings. It is very popular and less restrictive. Who should use it? Since the rule allocates a higher percentage of income to non-necessities and less to savings or debts, it is most suitable for people with no pressing financial needs or debts. The 30 30 30 10 Rule This rule budgets 30% to housing costs, 30% to necessities, 30% to debt repayment, and 10% to non-necessities. It is a strict budgeting plan. Who should use it? The rule is most recommended to people with high housing costs and debts. Related: Will the 30-30-30-10 Budget Rule Work for You? The 40 30 20 10 Rule The 40-30-20 rule focuses less on necessities. It allocates 40% to needs, 30% to wants, 20% to savings, and 10% to debts. Who should use it? This rule is most suited for people with little debt and who prioritize spending on things they enjoy, this The 75 15 10 Rule This rule budgets 75% of income to necessities, 15% to non-necessities, and 10% to savings. Who should use it? People whose expenses on necessities take up the most of their income.

Final Thoughts

Overall, the 60-20-20 is a good budgeting rule to adopt. However, to make it work, you must stay committed to the rule. Read the full article

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7 Legitimate Ways To Get Rich Quickly

Everyone wants to get rich! Being rich enables you to live a life of comfort and financial security. However, it's pretty hard to get rich without involving yourself in illegal activities. If you're in search of a legit way to get rich quickly, check out this article. Here are some legit and easy ways to make money.

How To Get Rich Quickly

Have The Right State of Mind To become rich, you need to train your mind to think and act rich. A mind that's stable and rich in thoughts, will come up with brilliant business ideas. You can train your mind by being around wealthy people, reading books on wealth, and attending conferences held by rich people. Manage Your Money Efficiently To become rich, you need to change the way you handle your finances. Here are some ways to efficiently manage the wealth you have on hand Make A Budget For Everything. Outlining your monthly expenses and income enables you to achieve your financial goal Think Of Saving As A Bill Always think of investments and savings as a bill that needs to be settled each month. Adopt The Value-Based Purchasing System If you find it difficult to differentiate between important expenses and unimportant ones, you should adopt a framework for value-based spending. Minimize Costs By Spending Wisely One way to become rich quickly is by minimizing the way you spend on things. To do this, create a monthly budget. Highlighting important expenses, and erasing unimportant expenses from your list is a great way to spend wisely. Spending wisely enables you to increase your savings and have enough for emergencies. Sell Items You Don't Need Selling items you no longer need can increase your income. Sites like Craigslist enable you to quickly sell off second-hand items. Thrift stores are also great places to sell some of your home items.

How To Become Wealthy In 5 years

If you plan to become wealthy in the next five years, here are 10 things to do: - Develop Your Financial Literacy with Self-Education - Spend less, make more money, and invest - Invest in real estate - Create a Stock and Share Portfolio - Become innovative - Conduct Quarterly Report of Your Income - Become an Affiliate Marketer - Find a Wealthy Mentor - Invest Your Stock in a Startup - Invest In Your Skills

Frequently Asked Questions

How To Become A Rich Man To become a rich man, you need to put your financial thinking in order, create an economic plan, establish a budget, live within your means, develop numerous sources of income, and make an investment. What is the Quickest and Easiest Way to Become a Millionaire? The easiest way to become a millionaire is by focusing on your goal, prioritizing savings, cutting unnecessary expenses, and working with a financial advisor. How can I be rich without working? You cannot get rich without working. To get rich without working, you need to have wealthy parents, investments that incur money, and a business where other people work for you. Why Is It Difficult To Get Rich? It is difficult to get rich due to the expenses and bills that surface in the everyday life. Consumption habits that promote spending rather than saving and investment make it hard for people to become rich. What Is The Secret To Getting Rich? Creating a financial goal is the secret to getting rich. Making a personalized financial plan that details your expenses, saving goals, and investments will make you conscious of your financial situation and will make you rich. What is the 50 30 20 budget rule? The"50 20 30 budget rule is a rule that directs you to spend 50% of your income on necessities, 30% on wants, and 20% on savings. This rule was made famous by Senator Elizabeth Warren in her book "All Ones Worth: Your Ultimate Lifetime Money Plan" Read the full article

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4 Free Financial Independence Calculators for Tracking Early Retirement

You want to retire early, right? All the resources you'll ever need to achieve economic freedom and personal fulfillment are right here. It would be great if you could retire and live comfortably well before you hit your 60s. The FIRE (Financial Independence Retire Early) community aspires to do just that. Also, you may retire early with the aid of these applications, calculators, and recommendations. The principles of the Financial Independence, Retire Early movement include economizing, putting money away regularly, and keeping track of your spending. Mr. Money Moustache, a financial blogger who retired in his thirties, is often credited as the movement's inspiration. To assist you in doing the math, we've included a small selection of the online retire early calculators we've come across from other FIRE writers and financial institutions. The Laboratory of FI This website, which was compiled and made by the Mad FIentist, a well-known FIRE blogger, is undoubtedly one of the greatest sources for would-be FIRE walkers. The FI Tracker at Brandon's FI Laboratory is quite useful for those of us who like visuals than spreadsheet columns. The Money Mentor The Financial Mentor's calculator is the most reliable retiring early calculator available. While you may still enter your spending, withdrawal rates, and other information, this calculator now enables you to take tax occurrences and changes in the cost of living into consideration. Therefore, these additional little line items assist you to prepare if you know you'll be moving after retirement and your housing will go down or if you're planning to have your mortgage paid off early. NerdWallet Who doesn't like vibrant bar charts? The NerdWallet Retirement Calculator is the most aesthetically appealing of all the calculators for retiring early. A stylish user interface and simple-to-read data tables are available. This estimating tool can be ideal for you if you find Excel spreadsheets and intricate bar charts to be boring to look at. Although it may be modified to include certain FI calculations, this calculator is more akin to a standard retirement calculator. Calculator for Early Retirement with Millennial Money Millennial Money offers a nice middle-ground calculator for anybody who feels overwhelmed or has a much longer retirement horizon with many unknowns while browsing for free online retire early calculators. It might be tough to predict the future for certain young guns who have many of unknowns before retirement. It might be difficult to predict for single people who are uncertain about having children, their future financial situation, and other things. It's flexible and enjoyable to use the Retirement Freedom Calculator.

Financial independence retire early

It's the goal of a Financial Independence, Retire Early (FIRE) community to retire far sooner than is possible with a conventional budget and retirement plan by following a strict savings and investing strategy. Vicki Robin and Joe Dominguez wrote the best-selling book Your Money or Your Life, as well as its central premise—that people should analyze every cost in terms of the number of working hours it took to pay for it—became the inspiration for FIRE.

Best fire calculator

The Financial Mentor's Early Retirement Calculator is the most comprehensive tool of its kind. This calculator still lets you input your costs, withdrawal rates, and everything else, but it now factors in tax events and changes in the cost of living. Whether you expect your housing costs to decrease after retirement and intend to move or you want to pay off your mortgage early, these supplementary details are useful for planning. In addition, you may determine how the sale of certain assets will affect your overall financial situation. The Retirement Calculator on the Financial Mentor website will help you estimate how much money you could get from selling a boat, cottage, or vehicle when you retire.

Retirement calculator

By utilizing our Retirement Calculator, an individual is able to get help with preparing for the many financial aspects of their retirement. You have the option of using each calculation on its own for calculations that are quick and simple, or you may use them in the order that is shown below for a more in-depth and comprehensive analysis of retirement planning. When one retires, they leave the workforce entirely and enter a time of idleness that will, for the great majority of individuals, last for the rest of their life.

Fat fire calculator

Calculating your FIRE number, which is the amount of invested assets you need to have in order to retire early and live off of investment income, is at the heart of the FIRE movement. After determining your FIRE number, the next step is to increase your income while simultaneously reducing your expenses in order to reach your net worth goals as quickly as possible. You may get a rough estimate of your FIRE number by multiplying your yearly costs by 25. Choosing a withdrawal rate that is sustainable, which was prepared by three Trinity University professors and published in the American Association of Individual Investors Journal in 1998, is credited with popularizing this equation. The data set included in the article, which is more often referred to as the Trinity Study, determined that retirement plans with a specified net worth that had withdrawal rates of 4% per year or less had a 0% chance of exhausting their available assets.

Frequently Asked Questions

1. How do you calculate early retirement? In the event of early retirement, a payout is lowered 5/9 of one percent for each month before regular retirement age, up to 36 months. If the benefit is paid for more than 36 months, it will be decreased by 5/12 of one percent every month. 2. What are the best retirement calculators? Some will show you how to improve your situation, whether that's retiring early, being richer, or feeling safer. In addition to the MarketWatch Retirement Planner and the AARP Retirement Calculator, there is also the NewRetirement Retirement Planner and the American Funds Retirement Planning Calculator. 3. What is the FIRE calculation? At the age of 35, you should have saved the equivalent of one year's pay for retirement. When you're 45, it'll be three times your present wage, and when you're 55, it'll be five times your yearly salary. Eight times your yearly wage by the time you retire. 4. How much do you need to retire early use this simple formula. The 4% rule is a simple method for calculating how much you will need to save in order to obtain your desired yearly retirement income. To retire on an annual income of $80,000, you'll need an investment portfolio of around $2 million ($80,000 / 0.04). 5. What is a good monthly retirement income? Eighty percent of your salary in the years before you retire is a good target. If your annual income was $5,000 before you retired, your goal should be to reduce it to $4,000 per year. 6. What is the average 401k balance for a 65-year-old? According to the U.S. Census Bureau, just 41% of employees contribute to a 401(k), despite the fact that this is one of the greatest accessible alternatives for saving for retirement for many individuals, Census Bureau. 7. Why are retirement calculators so different? The calculator provides an estimate of the returns and inflation, but it should be understood that this is exactly what it is: an estimate. In addition, even a little miscalculation of the rate of return or the interest rate may have a significant impact on the results of the computations. Because it is inevitable that the inputs would be erroneous, it is fair to assume that the outcomes will also be inaccurate. 8. How good is the Fidelity retirement calculator? If you wish to retire at the age of 67, the calculator provided by Fidelity is pretty consistent with their recommendation that you should save 10 times your yearly wage. Our research has shown that this is a reasonable rule of thumb to follow, especially for those who will be relying solely on their Social Security benefits and savings throughout their retirement years.

Summary

The major goal of the Financial Independence, Retiring Early (FIRE) approach is to attain retirement at an earlier age than the traditional age of 65 or even 70, often in one's early 40s or early 50s. This is accomplished by starting early in one's career and saving as much money as possible. If you retire at a younger age, you will have more time to devote to the activities in life that bring you joy rather than having to spend it working. Read the full article

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10 Ways to Listen to Audiobooks for Free

I love audiobooks, but they can get expensive. Luckily, there are plenty of ways to listen to audiobooks for free! Here are ten tips and tricks that will have you listening to your next favorite book while saving money.

Borrow audiobooks from your public library.

Check with your local library to see if they offer audiobooks. Many libraries do, and many of them are free. Even if you're not a library member or don't live near one, it's worth checking out—sometimes libraries will let you use their services even if you aren't a resident or member. Most libraries' audiobooks are digital, meaning you can download them directly onto your phone or tablet without needing physical CDs or DVDs (though some still offer these options). If the audiobook is available in both formats, I'd recommend opting for the digital version since it's more accessible and easier to move around than physical copies. Audiobooks usually come with time limits—you may have only three weeks (or one month) after check-out before they expire and must be returned. Be aware of this when choosing what books to borrow from your local library—you might not want something that'll leave you disappointed after only a few days.

Use digital services like Overdrive and Libby.

Here are some ways to listen to audiobooks for free: Use digital services like Overdrive and Libby. If your local library or school district offers audiobook borrowing through these platforms, you’re in luck! You can borrow ebooks and audiobooks from your library using this service. You only need an internet connection and a device that supports the Overdrive app (iOS, Android, desktop). Download podcasts about books. Loyal Books has hundreds of free podcasts for readers who want more information about books they read or are thinking about reading (this is my favorite). Open Culture also has many free podcasts on its website that discuss books in detail.

Check out your local library's site and download any apps they have.

Your library may have audiobook apps. The best way to find out is by checking the library’s website and searching for “audiobook” or “audiobooks” on their app page. Ask them if they can make one if they don't have one. If your local library doesn't have an app available, you can still listen to audiobooks on your phone through apps like Audible, Overdrive (which works with many libraries), and iTunes. You can also listen to audiobooks on your computer and tablet using these same methods.

Get audiobook apps on your smartphone or tablet.

Find audiobook apps. If you’re looking for an app that will let you listen to audiobooks, search the Google Play Store or Apple App Store for “audiobook.” You can also check out Audible and Overdrive. They both have similar features and are great places to start your search. Look for an app with a user-friendly interface that is easy on your eyes and ears. The first thing that attracts me to an audiobook app is its design—a simple layout with large fonts makes it easy to read while driving or doing other tasks around the house. What's more important than design? The sound quality, of course! Ensure it has clear speakers, so no buzzing noises disturb your enjoyment when listening on headphones (or better yet: earbuds). Download free content from public libraries or buy individual episodes or entire series as downloads through these apps when possible so they don't eat away at data limits when streaming over cellular networks. Especially if you're paying per MB with plans like T-Mobile ONE Plus International plan, which offers unlimited high-speed data abroad but charges $25/GB after reaching 50GB each month domestically—and always requires WiFi connection everywhere else except those regions where cellular coverage exists like Japan where all providers offer 4G LTE speeds indoors.

Free trials for audiobook subscriptions.

Take advantage of free trials for audiobook subscriptions. Listen to audiobooks for free on Amazon. Listen to audiobooks for free on iTunes.

Use the free audio content on YouTube.

Listen to audiobooks on YouTube with a free trial of Audible. YouTube has a vast collection of free audiobook content that you can access with your computer or phone. You can use YouTube's built-in player on your desktop or download the app from Apple or Google Play and listen directly. You'll be able to find new releases and classics alike, as well as multiple versions of each title (audio only, text-to-speech reading of the book). The selection's not too bad either—there are over 75,000 books available. One caveat: many readers will be marked "properly licensed" when they're not, so if it bothers you that some authors aren't getting paid enough money for their work (or at all), skip those.

Join a podcast community focused on literature.

If you deeply love books and want to surround yourself with other like-minded people, joining a podcast community focused on literature may be just what you're looking for. Many podcasts focus on literature, some more educational and some more entertaining, but all of them will help keep your love for reading alive. Some focus on different genres of literature, such as memoirs or poetry, while others focus on specific authors and their works. Still, others are more general and cover everything from the writing process to how best to approach particular topics in our daily lives (such as love or death).

Invest in Audible.

Consider investing in Audible to get more flexibility with audiobooks. If you'd like to get the most out of your audiobook collection, consider signing up for a monthly subscription service like Audible.

Not only does this give you access to thousands of titles that aren't available elsewhere, but it also provides the option to cancel at any time and restart or extend your membership later. You can try the service with a complimentary 30-day trial before committing yourself.

Download for free from Loyal Books or Open Culture.

If the book is in the public domain, you can download it for free from sites like Loyal Books or Open Culture. Public domain means that a work has expired and can be used freely. This includes books whose copyrights have expired or been forfeited by their owners, which means they're available to anyone who wants them—including you.

The Internet Archive has an enormous collection of public domain books, organized by categories like "French children's literature," "Russian literature," "Utopian novels" (which is my favorite), and more. Some full-text versions are available at Gutenberg Project, but if you want the audio version, try one of these other sites instead.

Non-fiction books with Free Audiobooks.

Non-fiction books are a great place to start with free audiobooks because there are many great ones. You can find a lot of great non-fiction books on the internet. The website Librivox has over 15,000 audiobooks in the public domain, and they're all available for streaming or download as MP3s. You can also find plenty of non-fiction books in your local library. Go to their website, check the catalog, and request the text you want to listen to! Libraries often have more than one copy of each title (sometimes many), so don't be afraid that yours might not be available when you call them up and ask for it.

Best Free Audio Books

There's no question that the best free audiobooks come from Librivox recordings of public-domain texts. The oldest are from the 1900s, and they all have a unique feel with different readers and styles. These are an incredible value since they're free but high quality simultaneously. For these reasons, these free audiobooks should be your first stop when looking for great things to listen to for free.

Frequently Asked Questions

Is there a free version of Audible? The short answer is that there isn't a free, unlimited version of Audible. However, some ways exist to enjoy listening to audiobooks without breaking the bank. If you're an Amazon Prime member, you can get two free monthly books and listen to them on your phone or computer with the Audible app. Of course, there are some limitations to this version of Audible: they're restricted to two books per month, and they'll expire at the end of that month. But if you're a voracious reader and want to get in on all those great deals before you start paying for books, this option is perfect for you. How can I download audiobooks for free? The best way to download audiobooks for free is through a podcast. Podcasts are audio files that you can subscribe to on your phone or computer and listen to at any time, usually while you're out walking or driving. The big disadvantage is that they are usually very short (5 minutes or less) and come out very infrequently (usually just one per week or month). Related article: 17 sites to get paid to read e-books Which is the best audiobook app? Audible is a subscription service that costs $14.95 monthly for one book (plus a credit on the site for buying additional books). You can find more than 100,000 audiobooks from popular authors like JK Rowling, Tom Clancy, James Patterson, and Suzanne Collins here. The app has a nice interface—you can easily search for everything available or see what's new and trending. You can also browse by genre and subject matter, so it will be easy to find if you're looking for something specific. How do you listen to audiobooks from the library? If you want to listen to audiobooks from the library, you'll first need a library card. You can get one at your local library branch, or if you live in the U.S., you can sign up online at your local library's website. Once you have an account, the most common way is to download them instantly onto your computer or phone (or other listening devices) using OverDrive, which is free and available for many devices. It may take a little time for OverDrive to process your request (they give a processing estimate with each book), but once it's ready, it downloads and stores the file. Then you have to plug in your phone or computer (or whatever device you're using as a player) and listen away. What is the cheapest way to get audiobooks? There are plenty of ways to get audiobooks for free or nearly free. Here are some of my favorite resources for getting audiobooks for cheap: Your local library – Your local library is a great resource for free audiobooks. Each library varies in how many they have available. Still, most should have many fiction and non-fiction titles you can borrow and download to any device you have (computer, tablet, smartphone). Audiobook apps – Many apps let you download audiobooks onto your phone or tablet. What equipment do you need to listen to audiobooks? You don't need any special equipment to listen to an audiobook. Obviously, an audiobook is a recording of someone reading out loud, so all you really need is a way to ensure that you aren't listening to anything else–like music–while listening to your book. The easiest way to ensure this doesn't happen is just to plug in some headphones and go about your life.

Summary.

The good news is that there are many places where you can find free audiobooks. With the rise of digital books and e-readers, more people are turning to audiobooks for entertainment and information. If you’re looking for an alternative format that won't cost much but still offers excellent content, audiobooks may be just what you need. Read the full article

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$30,000 a Year is How Much Money Per Hour? (Can You Live Off It)

What's your annual income? Do you know how to convert it to an hourly or monthly income? If you make $30,000 per year, here's how much you make per hour, per day, and month. Note: the calculations in this article assume that you work an average of 40 hours per week.

$30,000 a Year Is How Much Per Hour?

If your annual income is $30,000 per year, it means you're being paid $14.42 on an hourly basis. Here's a simple way to calculate how much you earn per hour from an annual salary. - First, find the total number of hours you work in a year. In this case, since you work 40 hours per week, then your total working hours per year becomes 2080 hours. 40 hours per week × 52 weeks in a year = 2080 hours. - Secondly, divide your annual income by the total number of hours you work in a year. $30,000 ÷ 2080 hours = $14.42 Thus, if you earn $30,000 per year, $14.42 is the amount you make per hour.

$30,000 a Year Is How Much Per Day?

A $30,000 yearly salary is $115.38 per day. This is calculated by dividing your annual income by the number of working days in a year. If you work full-time, your average number of working days in a year is 260 days. Thus, $30,000 ÷ 260 working days = $115.38.

$30,000 a Year Is How Much Per Week?

Calculating how much you make in a week from your annual income is easy. Simply divide your annual income by the number of weeks in a year. $30,000 ÷ 52 weeks = $576.92 So your yearly salary is $30,000, you're making approximately $577 every week.

$30,000 a Year Is How Much Bi-weekly

In a year, there are 52 weeks. If you're paid bi-weekly, it means you receive payments 26 times in a year (52 weeks divided by 2 equals 26). To calculate bi-weekly earnings from an annual salary, divide your annual salary by 26. $30,000 ÷ 26 = $1,153.85 Therefore, a $30,000 annual salary equals $1,154 bi-weekly.

$30,000 a Year Is How Much Per Month

Calculating monthly income from an annual salary is simple. All you have to do is divide your annual income by the total number of months in a year (12 months). $30,000 ÷ 12 months = $2,500. Simply put, $30,000 per year equals $2,500 per month.

$30,000 a Year Is How Much Part-time

If you work part-time, but make $30,000 a year, here's how to calculate how much you make per hour of part-time work. For instance, if you work 20 hours per week, it means the average number of hours you work in a year is 1040 hours. $30,000 ÷ 1040 hours = $28.8 Simply put, if you make $30,000 and work part-time (20 hours per week), it means your hourly wage is $28.85. Annual Income Part-time (Hours Per Week) Hourly Wage $30,000 20 $28.8 $30,000 25 $23 $30,000 30 $19.23

Can You Live Off $30,000 a Year?

Whether you can live off $30,000 a year depends on various factors. If you're single and debt-free, $30,000 annually is enough to live a comfortable life. With a good money habit and a disciplined lifestyle, you may even be able to apply for a mortgage. However, if you are in debt or have a family you're responsible for, you may find it difficult to live off $30,000 per year. In addition, your housing cost (rents) can determine how comfortable you live with a $30,000 annual income. Since, rents take up a huge chunk of your salary, a higher rent may mean little leftover to cover other bills. So can you live off $30,000 per year? Yes! You can live comfortably with a $30,000 annual income if you're single, debt-free, and spend wisely. Nevertheless, it is important to have an extra source of income. The economy isn't favorable anymore. In a couple of years, you may consider starting a family, buying a house or a car, so find a better job or a side hustle.

How Can I Live Off $30,000 Per Year

Getting a job in today's economy is difficult. And even after finding a job, the salary may not be enough to cover your living expenses. If all you can afford is $30,000 per year, here's a guide on how to live off it. 1. Make A Budget Living with a budget is like traveling to a new city without a map, you'll get lost eventually. So to avoid any financial misfortune, make yourself a budget - a financial budget is any plan you make on how to spend your salary. Take note of your income and categorize all your monthly expenses. Afterward, make a detailed plan on how much goes to each spending category. You can make use of the 30-30-30-10 budgeting approach or the 50-30-20 rule. Related: The #1 Key To A Successful Budget 2. Cut Down On Expenses $30,000 per year equals $2,500 per month. If this monthly salary cannot cover your monthly expenses, consider cutting down on certain expenses. Unsubscribe from streaming services, reduce your phone bills, take advantage of coupons, and use public transportation to reduce your bills. Apps like Tiller and PocketGuard can also help you to cut down on your monthly expenses. Another Interesting Article: Top 15 Reasons To Get A Second Job 3. Shop At Thrift Stores A $30,000 per year income may not afford you things like new clothes, shoes, and furniture. One way to go around this is by shopping at thrift stores. Thrift stores are known for selling cheap secondhand products. Some of the products are high-quality and often in good condition. Locate any local thrift store around you, or check out online thrift stores. 4. Use Apps To Find Coupons Using coupons or gift cards can save you a lot of money on groceries. So take advantage of the coupons and discounts offered by most retail stores. Additionally, you can get cashback when you shop via the Ibotta app. Other apps like Groupon and Rakuten also allow you to access coupons. 5. Find A Roommate Cost of rent can take up over 40% of your monthly income leaving you with 60% for utility bills and daily expenses. As someone who earns $2,500 per month, 60% ($1,500) may not be enough for your daily expenses. To solve this, consider getting a roommate with whom you can share your rent bills. If you contribute 20% of your salary to rent, that leaves you with 80% for daily expenses. 6. Get A Second Job Taking a side hustle on weekends is a good way to boost your income. $30,000 is only enough for you to live by. If you want to travel, invest, or buy a house, you will need to increase your income. Related: How to Get Your First Job on Upwork

$30000 Per Year Budget Example

If you earn $30,000 per year, here are budgeting methods you can adopt. 1. 50-30-20 Budgeting Rule This budgeting rule suggests that you allocate 50% of your income to needs, 30% to wants, and 20% to debt repayment or savings. As someone who earns $30,000 per year, your monthly salary is $2,500. Here's how to budget your monthly salary using the 50-30-20% rule. - 50% which is $1,250 should go towards rent, utility bills, food, transportation, and insurance. - 30% which is $750 should be used for shopping, dates, travel, and entertainment. - 20% which is $500 should go towards debt repayment, emergency funds, or investment. 2. The 30-30-30-10 Budgeting Rule This rule is most suitable for people who want a strict financial life. It allocates 30% of your income to housing, 30% to daily expenses, 30% to savings or debt repayment, and the remaining 10% to wants or lifestyle spending. Here's how it works with a $30,000 per year income. $30,000 per = $2,500 per month. - $750 for housing costs (rents or mortgage payments). - $750 for bills and daily expenses. - $750 for savings, investment, or debt repayment. - $250 for lifestyle spending and entertainment. Related: Will the 30-30-30-10 Budget Rule Work for You? 3. The 70-20-10 Budgeting Rule If your daily bills and expenses take up most of your salary, then this budgeting method is suitable for you. It allocates 70% of your income to needs, 20% to savings, investment, or debt repayment, and 10% to wants. Note: The above calculations are made on the assumption that $30,000 is your net annual income.

15 Jobs That Pay $30k A Year

- Caregiver - Nursing Assistant - Warehouse worker - Housekeeper - Office Administrator - Pet groomer - Bookkeeper - Restaurant supervisor - Social Media Specialist - Call center representatives - Construction Worker - Pharmacy Technician - Graphic designer - Phlebotomists (entry-level) - Janitors and Building Cleaners

Top 10 Remote Jobs That Pay $30,000 Per Year

Here are online jobs that pay $14 an hour or $30,000 per year. Most of these jobs can pay you a higher amount once you gain expert knowledge. - Customer service tech support - Virtual Assistant - Data entry specialist - Affiliate marketing - Blogging - YouTube - SEO Specialist - Social Media Specialist - Web developer - Remote Marketing Specialist

Summary

A $30,000 annual income is enough to live comfortably if you have no debts and a family. But regardless, get yourself a second job to boost your living conditions. Read the full article

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10 Best Solo 401k Options

A solo 401k is a great way to save for retirement if you run your own business. It provides the ability to contribute more money than other retirement accounts. It often comes with additional benefits such as matching contributions from your employer or a self-directed investing option that lets you choose investments based on your risk tolerance and future goals.

Best Solo 401ks Overall - Self-Directed Solo 401k

A self-directed 401k is the best option if you want complete investment control. It allows you to invest your money in various assets such as stocks, bonds, mutual funds, ETFs, real estate, and alternative investments. The self-directed solo 401k allows you to invest in various investment vehicles, including mutual and exchange-traded funds (ETFs). Moreover, it allows you to invest in alternative investments like real estate through a self-directed IRA LLC or an IRA trust.

Best Solo 401k for Straightforward Investing - Schwab Solo 401k

Schwab Solo 401(k) is an excellent option for those looking to invest their retirement savings in straightforward terms. It’s one of the most popular solo 401(k) plans, offering a long list of investment options and advice services. To start, Schwab Solo 401(k) has low fees: It only costs $1 monthly (and no maintenance fees). Plus, there are no account minimums or complicated pricing structures—you pay based on how much you have invested with them. In addition to these excellent features, Schwab offers a wide range of investment options—including ETFs (exchange-traded funds), mutual funds, and individual stocks—and access to financial advisors via phone or video chat.

Best Low-Cost Solo 401k - Vanguard Solo 401k

Vanguard's Solo 401k is one of the least expensive options available on the market. There are no trading costs or management fees, so your investments will grow tax-free consistently. There are also several investment options to choose from, and you can use any broker that works with Vanguard or roll over your existing IRA into a Vanguard Solo 401k plan. - No minimum balance requirements or account service fees According to Vanguard, you don't have to maintain a certain amount in your retirement account for it to remain active. You won't be charged annual and no account maintenance fees either. The only thing that could cost money is if funds are left in the plan when you stop working as an independent contractor. Then, they may charge an inactivity fee until you retake action on them (which could easily be avoided by moving those funds elsewhere).

Best Flexible Self-Directed Solo 401k - Fidelity Go Self-Employed 401(k)

If you want to be able to invest in a wide range of investments, the Fidelity Go Self-Employed 401(k) is a great option. You can invest in stocks, bonds, mutual funds, ETFs, and REITs. The catch? It has limited investment options available for real estate if you’re looking for something flexible with opportunities for real estate investing. However, this is one of the best solo 401k plans out there. Fidelity Go allows investors to purchase residential and commercial properties with their solo 401k plan through a Fidelity Real Estate Investment Trust (REIT). Investors participating in these plans can even borrow up to 30% of their total account balance when purchasing property – so if your account value was $100K and you wanted to borrow $30K from yourself, then that would mean that you could use $130K worth of funds from this one account – not bad.

Best Low-Cost Self-Directed Solo 401k - TD Ameritrade Self-Directed Brokerage Account Solo 401(k)

TD Ameritrade is a low-cost brokerage that offers some of the best mutual funds and ETFs on the market. One of their most popular products is the TD Ameritrade Self-Directed Brokerage Account Solo 401(k) because it has a low minimum investment requirement, a low $10 per month fee for the account, and no trading fees! If you are looking for an inexpensive way to invest in your business without hiring someone else to do it for you (and possibly pay them a hefty fee), this option might be perfect for you.

Best for No Trading Costs or Management Fees – Wealth front Roth IRA.

This account is excellent because it has no trading costs, management fees, or minimum balance required. There’s no account minimum or annual fee, account service, or transfer fee. You also won’t have to worry about any inactivity or maintenance fees.

Best Solo 401k for Tax-Deductible Contributions - E*TRADE Retirement Plan Services Individual K Plan

This plan allows you to contribute up to $19,000/year (or $25,000 if you're 50 or older). You can also set up a Roth IRA for the same account. This is your plan if you have an E*TRADE Individual Retirement Account (IRA) with more than $1 million in total assets. Otherwise, it's best suited for those looking for traditional retirement savings accounts and IRAs. If your Solo 401k is connected with an E*TRADE checking or brokerage account like our online trading platform, then there's another great way to maximize your retirement contributions: Roth IRAs.

Best Solo 401ks for Multiple Accounts or Employer Matching - Betterment Retirement Account (IRA)

Betterment is a Robo-advisor, so you can set it and forget it. You don’t need to worry about rebalancing your portfolio or monitoring the market: Betterment will do all that for you automatically. It also has no account minimums or account fees, which makes this solo 401k option very affordable. Betterment offers a variety of investment options beyond stocks and bonds—including real estate and alternative investments like gold—as well as personalized advice from financial experts based on your goals, risk tolerance, and other personal factors. Once they have those details, they can recommend the specific funds that make sense for you.

Best Interactive Investment Planning Tool - Personal Capital IRA Rollover Account

If you’re looking for an easy-to-use and affordable investment planning tool, look no further than Personal Capital IRA Rollover Account. Personal Capital is a free investment management service that quickly helps users track their finances. It makes managing your retirement savings—whether in an IRA or traditional 401(k)—easy by providing both a tool to manage investments and alerts that let you know if something needs attention before it becomes a problem. The Personal Capital IRA Rollover Account lets you easily transfer funds from your former employer’s 401(k) into this new account with just one click of the mouse. And because all transactions are done online through their website or mobile app, there are no paperwork hoops to jump through either.

Best for Long History of Outperformance - Fidelity Personalized Portfolios IRA

Fidelity Personalized Portfolios IRA is excellent for investors who want to invest in various asset classes. Investors can choose from Fidelity’s managed portfolio options, including: - Fidelity® Tax-Managed U.S. Equity Portfolio - Fidelity® Low-Cost Municipal Debt Fund (LMMXX) - Fidelity® International Index Fund - Investor Class (FIIIX)

Vanguard solo 401k

The vanguard solo 401k is a great investment option for self-employed people. A tax-advantaged retirement plan lets you put money into stocks, bonds, and mutual funds. You can use it to save for retirement and withdraw some funds when needed, like in an emergency. If you are self-employed and have set up your own business, opening up a vanguard solo 401k account can be a great way to save up for retirement because it allows you to contribute more than other plans allow. Also, if you have been self-employed for at least two years, you can take a loan from the account for whatever purpose. This can be helpful if you need cash for home improvement or medical expenses. Another thing is that if you have a terrible year in business and earn less money than usual, the account helps give you some security because it insulates your earnings from taxes until you retire. Also, unlike other plans, there is no maximum age limit for opening a solo 401k account. So even if you are sixty years old and still working on your own business, you can still open up this account and fund it with money that will be taxed when you draw it.

E-trade solo 401k

Knowing what a Solo 401k it is important, and how you can benefit from using this retirement plan. The Solo 401(k) Plan was created by Congress primarily for the self-employed. It offers many of the same features as other retirement plans, such as a Traditional IRA or SEP IRA. Still, it has some additional benefits that make it especially attractive. In particular, the Solo 401(k) offers two significant benefits: Self-employed individuals can contribute up to $52,000 per year to the Solo 401(k), which is tax-deductible; and The account grows on a deferred tax basis until account withdrawals begin at age 59½. The most significant benefit is that there are no income limitations on who can contribute and deduct their contributions. You can open and fund a Solo 401(k) even if you have no employees or only one employee.

Frequently Asked Questions

What banks offer Solo 401k? Several banks offer Solo 401k plans, and the list grows yearly. You're lucky to bank with U.S Bank, Wells Fargo, or Charles Schwab. These banks all offer excellent Solo 401k plans. Because you're self-employed and not part of a company, a Solo 401k can be useful for retirement. If you bank with one of these companies and open an IRA CD (or CD- ladder), you can save for retirement and watch your money grow over time -- tax-free. Can I put rental income in a 401k? The short answer is yes. The longer answer is that it depends on the context. When discussing income from investments, a 401k is an investment like anything else. So if you can put your rental income in a 401k, why not leave it there? However, there are tax implications to consider. Depending on your circumstances, you may be subject to taxes on the income as soon as it's received. Keeping your rental income outside the 401k until you've paid the taxes makes more sense if this is the case. In addition, if your employer offers matching funds for your 401k but does not offer anything for Roth IRA contributions (which your rental income would likely go towards), you'll want to keep your Roth contributions separate until after you've maximized the match in your 401k. The bottom line: Yes, you can put your rental income into a 401k. And depending on your situation, it might make sense to do so. But there are some additional factors to consider beyond whether it's allowed. Is real estate a better investment than 401k? Whether you believe real estate should be a big part of your investment portfolio depends on several factors, including the amount of money you have to invest, what kind of investor you are, and your goals for retirement. "Real estate is an excellent long-term investment," says Melissa Padgett, a financial planner in the greater Chicago area. Looking at the numbers, it becomes clear that investing in real estate can help you build wealth over time and achieve your long-term financial goals. Many people put at least some of their money into residential property, with most saying they bought their home. They liked living there as they did because they saw it as a good investment. For example, if you're buying a home that will become your primary residence, and you plan to live there for the next 30 years or more and think it's likely that housing prices will continue to rise during that period, then buying a home could make sense for you. On the other hand, if you think prices will level off or even fall when you plan to live in the property, then buying may not be such a good idea. Should I max out 401k or save for House? Should I max out my 401k or save for a house? That's a great question, and there's no correct answer. You have to consider many factors only relevant to you and your situation. But if you're looking for some solid advice, here are the main points to consider: How long do you plan on working? The longer you work, the more likely it is that 401k contributions will pay off for you. If you plan to leave the workforce in 5 years or less, your best bet might be to start saving for your house now. If you plan on staying employed for another 20 years, then funding your 401k makes more sense. How much can you contribute? The maximum amount allowed in 2019 is $19,000 (up from $18,500).  If you can put that much away this year, it makes sense. If not, you should consider how much you can realistically save towards a house per year. You might be able to contribute substantially more than $19K per year. What kind of interest rate do you get on your 401k? A 401k is an investment account with an associated interest rate that fluctuates depending on the market. At what age should you pay off your mortgage? The idea of paying off your mortgage as soon as possible is common. The logic is that you'll have more money freed up to invest in other things if you're not making monthly payments on a large loan. However, by the time you reach retirement age, you'll be able to borrow from your 401(k) if you need the money for an emergency, so the benefit of paying off your mortgage early may not be worth giving up the money you could've been investing all those years. The actual decision is whether or not to pay off your house during your working life. You should only do so if you're comfortable with having no home purchase protection and possibly missing out on other investments that could help boost your retirement savings. Is it wise to pay off your house? You've probably heard the advice to pay off your mortgage early, but is it r a good idea? Paying off your home loan can seem like a pretty sweet deal. It means you're free from the monthly payments, which is a big load off your mind in itself. You also have the satisfaction of knowing you've got nothing to pay. If it were that simple, though, you'd probably be hearing from people who had been paying their mortgages for years and years with no end in sight. For one thing, it's not possible to do. Suppose you're in an area where house prices are skyrocketing. It's a great idea to liquidate your equity into cash and invest elsewhere, where it will grow faster than any interest you could earn on a mortgage. And if your job requires a lot of travel or you can't commit to living in one place for at least seven years, then it may not be feasible either. But even if those issues aren't in play, there are still some questions you might want to ask yourself before diving right into paying off your house.

Summary

A solo 401(k) is a great way to save for retirement if you run your own business. You can contribute up to $55,000 each to the plan as an employer. In addition, employees can contribute up to $18,500 a year if they're under 50 or $24,500 if they're 50 or over. And unlike other retirement plans that limit which investments you can use (like IRAs), there are no restrictions on the investment options available in a solo 401(k). You'll also want to think about how much money you need when it comes time for retirement—and whether or not you should invest some of it now so there will be more income. Research has shown that people who start saving early tend to have more giant nest eggs than those who do not (even when controlling for age). The earlier one starts saving for retirement and investing their money wisely, the longer their savings will have time to grow and compound—and therefore, more cash at the end of their lives. Solo 401(k) has many benefits but can also be complicated to set up and manage. If you're considering investing in one, ensure your financial advisor is a certified solo 401(k) specialist or has extensive experience with these plans. An excellent place to start is by looking for an advisor who has worked with clients like yourself—someone who knows what's essential when planning for retirement and how best to meet those goals. Read the full article

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Ways to Recycle Computers for Money

Every year, advanced and sophisticated computer hardware models are released. When you replace an outdated computer with a newer model, what happens to the old model? Most people decide to throw their old computers away but there are ways to make money with your old computers. There are ways in which you can recycle computers for money, so instead of disposing of them, you can cash on them. So while you are saving the earth (by not disposing of your computer indiscriminately), you're also making money. Here are some ideas of the best options to recycle computers for money.

1. Repair and Sell Your Computer

One of the easiest ways to sell used items, such as your computer, is to get them back in great shape. In addition to attracting buyers, you can sell it at a better price. On the other hand, a computer with too much damage may likely sell at a lower price. Many used computers only need a few parts replaced or repaired to become fully functional. You may be able to find the needed parts to repair your old computer at a local or online store. All you need do is check for missing or faulty parts, visit computer stores, and buy and replace them before selling. If you can fix them, go ahead and get it running smoothly once more. However, if you have no experience or skills in repairing computers, take them to a repair center. If you decide to fix it on your own without knowing how-to, you may further damage the computer even to the point it becomes unsaleable. Once you can get your old computer in great shape, you can add the money used for repairs to your asking price. This way, you wouldn't lose your profit. Next is looking for where to sell your recycled computer. You can place list your computer online in places like Facebook Marketplace, OfferUp, LetGo, or Craigslist. These platforms allow you to advertise and sell used items (like your computer) to local buyers. Of course, you can also go with the traditional method of selling it to your friends and family. However, you shouldn't expect to make a huge amount selling refurbished computers, as they typically sell at a lower price. The amount you can make for recycling and selling a computer can vary based on the age of the device, the specs, the functionality, and how much longer it will realistically last once it’s sold.

2. Sell Your Computer To Trade Apps

A trading app is another excellent option for getting rid of your old computer. However, electronics and computers that are relatively new are the best items to trade on these apps easily. So if you're considering this option, ensure your computer is in great shape before listing it. Trading apps are mobile apps that link sellers to buyers of used items. However, there are conditions attached to using such apps, such as paying a transaction fee, shipping fee, and/or even a sign-up fee. Notwithstanding, you'll get your commission (primarily a higher percentage) for each item you sell on the app. There are a lot of trading apps available, all with their specific rules and features, so it's crucial to find the right one for you. Some popular trade apps to recycle your computer for money are Gazelle, uSell, and Swappa. A site like Gazelle allows you to attach prices to your items, but it's advisable to include a reasonable price so that your item will quickly sell. However, if your computer is a little too old to appeal to a trading app, you can look for options like Nextworth, BuyBackWorld, and RefurbMe, which will recycle computers for you and pay you. All you need do is forward them pictures of your old computer they'll let you know if they're interested in recycling it.

3. Sell Your Computer Parts

Not only do car parts sell in the market - you can also sell critical electronic parts. So another way you can make money from recycling old computers is by selling some of the old parts. This is primarily a good option if you only have a single non-functional computer or several non-working devices that can’t be patched into a new one. Many people repairing computers often need these parts to supplement the ones they have. You can sell these parts online or through local vendors for some extra cash. You'll likely find something valuable to sell even in the oldest computer. For example, the motherboard may be completely fried on your old desktop, but that doesn’t mean you can’t still sell the valuable metal plating holding components in place. There are many components of the computer that are still valuable and can be added to a damaged one to revive them. It is why repairers alike are ready to buy those parts. Some computer parts you can sell to others for extra cash include cleaned hard drives, motherboards, raid Cards, video cards, optical drives, network adaptors, processors, and RAM. You can always find a buyer for some of these parts as long as they're still in great shape. Places like eBay and Craigslist are great options for selling old computer parts. You can also try listing them in various computer forums and look out for postings from people looking for specific components you may have in your inventory.

4. Sell Your Computer To Tech Retailers

Another tactic to get rid of your old computer is to sell them to computer retailers. There are offline and online tech retailers recycling old computers and computer parts ready to patronize yours at a reasonable price. Here are some of the popular online places to sell your computer. Currys PC World Currys PC World is an online retail store offering free in-store recycling for virtually any electronic device, regardless of where you bought it. You can contact them, and they'll come to get it from your home at no cost. The company also purchases and recycles other appliances like kitchen appliances, radios, and widescreen TVs. Argos Argos recycle many large home appliances, and like Currys, they do home takeout delivery, or you can book their service through the platform's Live Chat. Argos also recycles any tech item you bring into its store for free, provided it sells a similar item and you've purchased a replacement from the retailer in the last 28 days. Apple Apple is a popular online retail store that accepts old devices for recycling. In some cases, you might even get a bit of store credit which you can use to spend on your next upgrade. However, our computer has to be in great shape for Apple to patronize you.

5. CashforElectronicsUSA.com

The last but not least idea for recycling old computers for money is by selling them to CashforElectronicsUSA.com (CFES USA). It is a reputable website for schools and businesses to recycle old electronics such as computers. It's owned by CJ Environmental, a company boasting an A+ Better Business Bureau rating. Furthermore, CFES USA has top-dollar offers for electronics scrap. They also provide proof of secure destruction and data removal upon request. So your data are in safe hands. CJ Environmental aims to help businesses, schools, and individuals recycle e-waste, cell phones, old computers, and other electronics for cash.

Sites To Sell Your Old Computers To:

Gizmogo: This platform is dedicated to reducing the number of old gadgets that end up in landfills. Hence they buy old and malfunctioning computers. Green buyback: This platform buys old electronics regardless of their condition. SellBroke: This company accepts old desktops, computers, tablets, and laptops in any condition. This company is affiliated with ecluttr, ecoATM, Amazon, Best Buy, and Apple Stores.

Frequently Asked Questions Related To Ways to Recycle Computers for Money

Can You Get Money From Old Laptops? Yes, you can get money for selling your old laptops. Instead of keeping your old laptop around as clutter, you can take it into the Best Buy store and trade it for up to $300. However, Best Buy will pay you via gift card, which is worth about $300. Where Can I Sell My Computer Fast? You can sell your computer on Amazon, Facebook Marketplace (especially in specific Buy/Sell/Trade groups created for gaming, computer building components, etc.), Craigslist, and other Computer-specific forums like Reddit's Computer Bazaar forum. Is There Anything Valuable In Old Computers? Most of the components of old computers are still valuable today. Moreover, some of these components have precious metals like aluminum, gold, and copper. Although most of these components are no longer used in most of the current generation of computers (that have sleeker, smaller, and less bulky components), they can still be recycled to make up for other parts. How Can I Get Money For A Broken Computer? You can get money for your broken laptop by selling it on sites like Craigslist and eBay. Craigslist, for example, allows you to sell locally to people, while eBay enables you to sell your item at auction, but you'll have to pay listing and final value fees. What Is The Best Thing To Do With Old Computers? Donate it! If your computer is still functional and you no longer use it, you can consider donating it to a charity. Many charities can still put your old computer to good use. In some cases, the components can be taken to a nonprofit organization that sells them to hobbyists or recycles them. Here are four ways to recycle your old computer for money.

Repair and Sell Your Computer

If you have an old computer model with malfunctioning parts, you can repair it and sell it at a discounted price. Most computer repair stores accept to buy malfunctioning computers. If you want to sell it at a higher price, you can get it repaired. Refurbished and broken computers are popular on sites like Craigslist.

Sell Your Parts to Scrap Yards

There are lots of scrap yards that accept computer parts. You can make money by selling functioning components on your computer. If you don't like the idea of repairing your computer and reselling it as a secondhand item, you can sell some of its parts.

How Can I Make Money With My Old Computer? You can money from your old computer by selling it. Sites like eBay and Craiglist allow you to list secondhand products for sale. You can also make money by selling some of its parts. Is There Anything Valuable in Old Computers? Yes! There are lots of valuable parts in old computers. Most old computers are built with valuable copper and aluminum that are currently hot cake in the market. Why Are Computers Recycled? Recycling computers helps to preserve natural resources that are used in the production of new computers. Most components found in older computers can be used to produce electronic items, hence computers need to be recycled. How Much Gold is in an Average Computer? An average computer has approximately 0.2 grams of gold in it. This is worth about $12. How Do E-waste Management Companies Make Money? E-waste management companies make money by gathering discarded electronic equipment and selling it to electronics manufacturing companies.

Summary

Refrain from getting rid of your old computers. Aside from missing out on an opportunity to make extra money, throwing your old computers also makes you a contributor to the damages caused to earth. Read the full article

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How to Make Money Collecting and Recycling Aluminum Cans

Did you know that you can earn by collecting trash? Yes, you can make money by collecting and reycling Aluminum cans. If you gather enough cans or bottles, you will be able to earn up to $100 a week. And in states where there is a bill for bottle recycling, your earnings will be higher. According to the container recycling institute, over a trillion Aluminum cans have been thrown in the trash. Incentives like a refundable deposit encourage people to recycle their aluminum cans, which reduces the amount of trash that ends up on the ground, in water, and forests. If your state has a bottle bill legislation, you can recycle bottles, cans, and other containers. If you don't reside in a state with a bottle bill, the amount of money you make from recycling bottles will depend on other factors. And I'll show you just that in this article.

Here's How To Make Money Collecting And Recycling Used Bottles And Aluminum Cans.

Aluminum cans can be sold in a variety of locations. Shops like grocery stores often include recycling stations or reversed vending machines for customers who reside in states that have a bottle bill. These machines/stations will pay you when you return your empty containers to them. To recycle aluminum cans in states without a bottle bill, take the aluminum cans to a metal scrap buyer or recycling facility. The bottles will be measured, and you'll be given a price for the whole bunch. Google maps can help you find the closest recycling facility or center. You can try these establishments if you're looking to buy or sell aluminium cans. Here are some suggestions; 

#1. Recycling Centers

. Even if you don't reside in a state with a bottle bill, you can still get compensated for your recyclables by bringing them to a recycling facility and being paid per pound at the going rate. To locate a recycling facility in your area, simply type "recycling center near me" into Google or your preferred search engine. And the list of neighboring businesses will be displayed for your perusal, complete with contact information, hours of operation, and physical location. You can also utilise Earth911.com to locate local recycling facilities. By entering your zip code and the desired item to recycle (in this case, aluminum cans), you can easily locate recycling locations in your area.

#2. Convenience Stores And Gas Stations

If you happen to reside in a state with bottle deposit legislation, you may also exchange your empty cans for cash at your neighborhood gas station or convenience shop. You can even get money in exchange for your empty cans and bottles at several gas stations and convenience stores. To find out if a neighboring gas station or convenience store has a bottle return program, just ask.

#3. Grocery stores

Depending on the specifics of your state's bottle law, supermarkets and grocery stores in your area may be equipped with recycling machines that accept aluminum cans, plastic bottles, and glass bottles. Typically, you'll find these recycling machines at the store's parking lot or in the back. So, find out if your neighborhood shop has a recycling machine. Once you've put all your recyclables in the machine, you can usually get a paper slip that you can turn in at the register.

#4. Scrap Metal Facilities

Aluminum cans can be recycled at scrap metal recycling sites. And you'll be paid cash on a per-pound basis.  What you do is just enter "scrap metal center near me" into Google or your preferred search engine's search bar to locate scrap metal centers in your area. And a directory of local recycling facilities will be provided to you.

Where to Find Aluminum Cans and Bottles

. If you want to make a substantial amount of money from selling aluminum, you'll need a lot of cans. So you'll have to be creative about where you obtain them. Here are some suggestions on places you can find aluminum cans and bottles.

#1. House and Neighborhood

You may not know this, but you and your family consume large quantities of soda or beer. So when collecting aluminum cans or bottles, your house should be the first place to look at. Ask your neighbors, relatives, and friends for their used aluminum cans and bottles. Establish a weekly or biweekly schedule for collecting all the empty cans in your neighborhood.

#2. Your Employer

Did you know your company could be potential buyers for your recycled aluminum cans? Seeing as how there's presumably a vending machine in your workplace, there's certainly some metal cans lying about. To add to your aluminum can collection, you can simply get permission from your employer to collect cans and then take them home. If your workplace doesn't provide trash can liners, you might need to carry your own.

#3. Small Businesses in Your Local Area.

If you want to collect even more aluminum cans, you can offer to put up a recycling bin in a nearby company's break room. To keep the space clean and free of clutter, collect the cans regularly. Most companies are eager to participate in recycling programs and so they would be willing to let you set up a bottle bin in their work area.

#4. Schools

You can offer to install recycling bins at a nearby school. The cafeteria and vending machines are good places to put up free recycling bins. Keep the bins from overflowing by setting up a pick-up plan with them.

#5. Sporting Events

A lot of people buy aluminum cans to use as drinking containers at sporting events. And when it comes to sporting events, more is always better.  Ater a long day of tailgating for a major game, the ground is sure to be littered with empty beer cans and, for those underage, soda cans. You can easily get away with hundreds of cans if you aren't invested in the day's sporting event. In fact, picking up litter also benefits the planet.

#6. Festivals and Concerts

In the same vein, outdoor events such as concerts and festivals are perfect for collecting lots of aluminum cans for recycling. Empty aluminum cans tend to accumulate more rapidly after large gatherings. Concerts and canned beverages: that's what music festivals have the best of. And music festival goers consume large quantities of alcohol. Since these events typically take place in open fields, it's easy to snag hundreds of cans without any effort. You should go to concerts and festivals more regularly if you live near one of these venues.

#7. Antique Bottles

Looking through trash for aluminum cans to sell can yield some extra cash if you happen upon older cans with collectible value. A beer can from the early 20th century is a good collectible, and its value depends on its rarity and the collector demand. Even though you probably won't see a can with a color or pattern you've never seen before, you should keep this in mind just in case. Just put it in a separate bag and don't bring it in with the other cans you've been collecting; the odds are that someone will pay you for it. Big money too. 

#8. Street Stores

Assuming your company uses aluminum cans, other nearby places probably do as well. Typically asking permission to place your own recycling container in the break room is often met with little resistance.  That's because many businesses don't give a hoot about what happens to their aluminum cans. So that might make recycling less of an active process and more of a spectator sport.

Bottle-Bill States

Your state probably has a set minimum price per can. Generally, Bottle Bills, or bottle deposit laws, are in effect in a number of states in the United States. And cans and bottles recycled in these states must be paid out at least at the minimum state level. And aluminium prices in these places can be disregarded. The minimum price that recycling centers must pay for each recycled can is specified by some of these programs and can range from $.05 to $.10. Now that's a tremendous deal too. As a result, the value of recycled aluminum could be significantly higher than in jurisdictions without bottle bills. You can notice the difference when you evaluate this against the national average for recycled aluminum. Therefore, if you reside in bottle bill states like California, Connecticut, Hawaii, Iowa, or Massachusetts, you should immediately begin collecting and recycling the cans. Click here to see if your state has bottle bill legislation. You can make $200, for instance, if you collect and sell 2000 cans in one week. That's a whole week's worth of food or a car payment.

What’s the Average Rate for Recycled Aluminum Cans?

Aluminium can-recycling return rates vary by state, and ultimately, your profit might be affected by where you choose to turn in your cans.  Normally, based on data collected by the iScrapp app, which is designed to facilitate the recycling of various waste metals, the average price paid in the United States for aluminum scrap is $0.25 per pound.  This is a decent ballpark estimate for the money you may make by scavenging cans for several hours, but it doesn't tell the whole picture. In most cases, for instance, you can try to negotiate with the supervisors at a recycling factory. There's a chance they'll provide you a few extra cents per pound over and above their standard prices. Since aluminum is a precious metal, its price fluctuates almost everyday. To reflect this, it is normal practice for recycling centers to alter their fees periodically. Click here to see average rates for recycling aluminum cans.

Final Thoughts

Recycling aluminum cans is a simple way to earn some extra cash, and while it won't make you rich, it's still better than nothing. Simply put, you can make money out of garbage. You can find extra cans at stores, restaurants, offices, homes, and even the streets.And that's how the can-collecting and recycling industry rolls!

Some Frequently Asked Questions On Making Money From Recycling Aluminum Cans

How many aluminum cans does it take to get $1,000? For example, If the bottle deposit rate in your state is $0.05, you would need to return 20,000 bottles to make $1,000. You'd have to sell over 10,000 cans in a bottle bill state where you get $0.10 each to make $1,000. It's a weight-based payment system if you don't live in a state with bottle deposit rules. And going by that, a thousand dollars's worth of income requires selling over 48,000 aluminum cans. How Many Aluminum Cans Does It Take To Get $20? To make $20 in a bottle bill state where you get $0.05 each container, you would need to sell 400 cans. And in a bottle bill state where you'd receive $0.10, to make $20, you'd need to sell over 200 cans. If bottle bill laws are non-existent in your state, then you'd need to sell over 960 cans to make $20 because the payment system is based on weight if you don't have bottle deposit rules in your state. Can Money Be Made From Aluminum Recycling? Yes, you can earn a profit off of selling aluminum cans. However, you'd need tens of thousands of cans if you wanted to make $100 or $1,000. When Do Aluminum Can Sales Peak? The middle of the week is an excellent time to visit the recycling center or scrap metal facility in your area to get paid for your recyclables. Why? Because mondays, fridays, and the weekends are often times when individuals are most invested in cleaning their homes.  Read the full article

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How Much Does $18 an Hour Equal Per Year? (Can You Live Off It)

If you're being paid $18 an hour in wage, you may wonder how much it equals when converted to a yearly salary. And with the increasing cost of living, is it possible to live off this income? In this article, we will cover how to convert hourly wage rate (i.e. $18 an hour) to weekly, bi-weekly, monthly, and annual salary. We'll also consider how possible it is to live off $18 an hour, and jobs that pay $18 an hour in the United States.

How Much Does $18 an Hour Equal Per Year?

$18 an hour equals $37,440 per year if you work an average of 40 hours each week. The standard number of working hours in a week is 40 hours. So if you stick to 40 hours a week without overtime, your annual income will be $37,440. In a year, there are 52 weeks. If you work 40 hours per week for 52 weeks, then the total number of hours worked in a year becomes 2080 hours. Number of hours in a week × Number of weeks in a year = 40 hours × 52 weeks = 2080 hours. To convert your hourly wage rate to an annual salary, multiply the total number of hours you work in a year by your hourly wage. Total number of working hours in a year × hourly wage = 2080 hours × $18 = $37,440 Thus, if you receive $18 an hour, your annual salary will be $37,440 Another Interesting Article: $17 an Hour is How Much per Year?

$18 An Hour With Overtime Is How Much A Year

Overtime allows you to make 1.5 times higher than your hourly wage. It is compensation for working longer than eight hours per day. If your hourly wage is $18, overtime payment will be $27 per hour. $18 × 1.5 = $27. Here's how to calculate how much you make in a year if you work overtime. If you worked 50 hours a week instead of the normal 40 hours, you'll receive overtime payment for the extra 10 hours worked. Regular hours worked = $18 an hour x 40 hours = $720 10 overtime hours = $27 x 10 = $270 $720 + $270 = $990 per week. If you continue working 50 hours per week (40 normal working hours plus 10 hours overtime), here's how much you would make in a year. $990 in a week x 52 weeks in a year = $51,480. Without overtime, $18 an hour is $37,440 per year, but with 10 hours of overtime pay, $18 an hour will result in $51,480 a year. The below table considers different overtime hours and how much you will earn in a year with a $18 hourly rate. Overtime Hours Hours Per Week Weekly Earnings Annual Earnings 0 40 $720 $37,440 1 45 $855 $44,460 2 50 $990 $51,480 3 55 $1,125 $58,500 4 60 $1,260 $65,520 5 65 $1,395 $72,540 6 70 $1,530 $79,560 Use this overtime calculator to make calculations.

Part-time $18 An Hour Is How Much A Year

Part-time means less number of working hours (less than eight hours a day and less than 40 hours per week). Here's how to calculate how much you earn part-time in a week and a year. Weekly Earning: Hourly Wage Rate × Number of Part-time Hours Worked In A Week For example, if you work 25 hours per week at a job that pays $18 an hour, you'll make $450 per week. $18 an hour × 25 hours part-time = $450 Annual Salary: Weekly Pay × Number of Weeks In A Year = $450 × 52 Weeks = $23,400 Therefore, if your hourly wage rate is $18 an hour, and you work part-time for 25 hours per week, you will make $450 in a week and $23,400 in a year. Another Interesting Article: How Many Hours is a Part-Time Job? The below table considers different part-time hours and how much you will earn in a year with an $18 hourly rate. Part-time Hours Per Week Weekly Earnings Annual Earnings 20 $360 $18,720 21 $378 $19,656 22 $396 $20,592 23 $414 $21,528 24 $432 $22,464 25 $450 $23,400 26 $468 $24,336 27 $486 $25,272 28 $504 $26,208 29 $522 $27,144 30 $540 $28,080 31 $558 $29,016 32 $576 $29,952 33 $594 $30,888 34 $612 $31,824 35 $630 $32,760

$18 An Hour Is How Much A Month

To calculate how much you make in a month, divide your annual income by the number of months in a year. Since $18 an hour is $37,440 per year, then your monthly salary will be $3,120. $37,440 ÷ 12 months = $3,120 The above method is the most accurate way to convert hourly wage to monthly salary. Oftentimes, people use the below method to calculate their monthly salary. Hourly Wage × Number of Hours Worked In A Week × 4 Weeks In A Month $18 × 40 Hours × 4 weeks in a month = $2,880. While the above method is not entirely wrong, it does not consider the extra days that come with 4 weeks in a month. Another Interesting Article:

How Much Is $18 An Hour For A Week

If you work 40 hours per week for a job that pays you $18 an hour, you will make $720 every week - forty hours is the standard number of working hours in a week. Here's how to calculate it: Hourly Wage Rate × Total Number of Hours Worked In A Week = $18 × 40 Hours = $720 per week.

$18 An Hour Is How Much Bi-weekly

Bi-weekly means two weeks. So if you work for two weeks, you'll receive a bi-weekly payment. If the standard number of working hours in a week is 40, then in two weeks, you'll work 80 hours. To calculate how much you make in two weeks, multiply your hourly wage by the total number of hours you work in two weeks. $18 an hour × 80 hours in two weeks = $1,440 Thus, $18 an hour is $1,440 bi-weekly before taxes.

Can You Live Off $18 An Hour

Whether you can live off $18 an hour depends on certain factors which includes - Cost of living in your city/state - Number of dependents in your family - Income Tax Rate in your city/state - Your living lifestyle and priorities - Loan Repayment - Transportation Costs Thus, most people can consider $18 an hour a livable wage while others may see it as not enough to sustain them. Student loans, mortgage payments, auto loans, or personal loans can take a good chunk of your monthly salary. If you're stuck with any of these loans, it may be difficult to live off $18 an hour. Similarly, if your family members depend on your income and if you're responsible for their medical bills, groceries, school supplies, and other bills, you may need to find a side hustle to support your wage of $18 an hour. In addition, if you live an expensive lifestyle that requires branded items and fashionable goods, $18 an hour will not be enough for you to live on. However, if you're single with no responsibility and live a modest lifestyle, $18 an hour will sustain you.

How To Budget An Income Of $18 An Hour

If you are paid $18 an hour, you can make a budget by using the 50-30-20 budgeting rule. The 50-30-20 budgeting rule suggests that you allocate 50% of your monthly income to needs, 30% to wants, and 20% to savings or debt payments. In other words, fifty percent of your income should go to basic expenses, thirty percent to fun, entertainment, and miscellaneous expenses, while the remaining twenty percent should be put towards savings. Since $18 an hour equals $3,120 per month, here's what your budget should look like: - Needs (bills, food, groceries, insurance, transportation): $1,560 - Wants (travel &recreation): $936 - Savings & Debt Payment: $624

Conclusion

When converted to an annual salary, $18 an hour is $37,440 per year. This amount can sustain you if you live a modest lifestyle and have no dependents. But if you desire to live a high-maintenance lifestyle, get a side hustle to avoid running into debt.

Frequently Asked Questions On $18 An Hour

Is $18 An Hour Enough To Buy A House? $18 an hour income is enough to buy a house if you have savings, no dependents, and no debts. It'll also help if the cost of housing and real estate in your city/state is cheap. Is $18 An Hour A Good Wage The real median household income in the U.S. in 2022 was $74,580. If you earn $18 an hour, you'll make $37,440. When this is combined with your partner's income, it'll be greater than $74,580. Thus, $18 an hour is a good wage if you're single and if you have a partner who earns a similar amount. $18 An Hour Is How Much A Day $18 an hour per day is $144. To get how much you make in a day, multiply your hourly wage by the number of hours you work in a day. Read the full article

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Will the 30-30-30-10 Budget Rule Work for You?

While everyone agrees on the importance of budgeting, no one points a finger at the specific budgeting rule/method to adopt. There are tons of budgeting rules, and it can be difficult to decide which one would work for you. The 30-30-30-10 is a percentage budgeting method that enables you to decide how much of your income goes to certain spending categories. If you're thinking of adopting the 30-30-30-10 budgeting rule, here's everything you need to know about it.

What Is A 30-30-30-10 Budgeting Rule

The 30-30-30-10 budgeting rule is a simple way to allocate your income. It is a percentage method that divides your income into categories. According to this rule, allocate 30% of your income to housing, 30% to expenses, 30% to savings or debt payment, and the remaining 10% to wants. Here's a breakdown of the rule: 1. 30% Towards Housing Once you receive your income, set aside 30% for rent or mortgage payments. It can also be used for home appliance repair/maintenance. Most people include the cost of gas and transportation in this category. 2. 30% To Expenses Expenses such as groceries, utilities, food, internet, gas, and everyday bills are included in this category. 3. 30% To Savings, Investment, or Debt Payment Direct 30% of your income towards debt repayment. If you don't have loans to pay off, save for emergencies, IRA, 401(k), or make investment plans. Overall, 30% must go into achieving your financial goals. 4. 10% To Wants Wants include all sorts of entertainment. Use 10% of your income for travel, eat-outs, subscriptions, shopping, and fun. 30-30-30-10 Budget Example If your after-tax monthly income is $3,500, here's how to make budgeting plans using the 30-30-30-10 rule. Housing expenses = $1,050 Groceries, Utilities, Internet, and other bills = $1,050 Savings, Debt payments, or Investment = $1,050 Unnecessary Spendings = $350 Here's another example, if you make $5000 per month, spend $1,500 on rent or mortgage payments, spend another $1,500 on necessities, transfer $1,500 into an investment or retirement account, and spend the remaining $500 on whatever you like.

Will The 30-30-30-10 Work For You?

As you must have noticed, the 30-30-30-10 lays more emphasis on saving and things that are of utmost importance. Thus, it is a strict budgeting rule. Will it work for you? The 30-30-30-10 rule will work for you if you are frugal and intentional about all your expenses. However, if you want more spending freedom, this rule will not work for you. The 30-30-30-10 budgeting rule helps you to stay financially disciplined. It allocates a tiny percentage of your income to fun, thereby enabling you to build better money habits. If you're not cut out for any of these, the 30-30-30-10 is not for you. Try out other budgeting rules that will be highlighted in this article.

Who Is The 30-30-30-10 Budget Right For?

The 30-30-30-10 budgeting rule is right for anyone who wants to be financially disciplined. If you are an overspender and want to develop good money habits, this budgeting rule is right for you. If you fall under any of the following categories, the 30-30-30-10 is right for you: - The 30-30-30-10 budget is ideal for people bent on achieving their financial goals. - If you are into debt and cannot afford to pay it off, the 30-30-30-10 can help you find a footing. - If you want to put an end to your spending habits

Who Is The 30-30-30-10 Rule Not Right For?

While the 30-30-30-10 rule is great, it may not be the right budgeting method for you. As you know, the 30-30-30-10 rule allocates 30% of income to housing costs (rent or mortgage). So if you live in an area with high costs of living, 30% of your income may not be able to afford rent or mortgage payments. And you may need to spend more. In addition, the 30-30-30-10 limits how much you spend on things you like. If you want to travel more, dine out regularly, and seek entertainment, 10% of your income may be enough.

How Do You Know Which Budgeting Rule To Use?

Financial experts advise on making a budget regardless of how much you earn. But how do you know which budgeting rule to use? If you find yourself in this situation, here's a guide to help you discover what works best for you. 1. Consider Your Debts and Expenses Track all your expenses, and list out how much you owe in debts. Doing this enables you to realize what your priorities should be. If your debts and expenses suck up most of your income, you'll need a strict budgeting rule that allows you to pay off debts and cater to your expenses. The 30-30-30-10 is a good budgeting rule for this situation. 2. Consider Your Actual Income Knowing how much you make in a month after tax can help you decide on a budgeting plan to use. If your salary is high and affords you the luxury to save, go for a relaxed rule like the 50-30-20 budgeting rule. 3. Understand Your Debt-to-income Ratio Debt-to-income (DTI) ratio is the percentage of your gross monthly salary used to pay off your monthly debts. This ratio enables you to compare your income to your debts. For example, if you have $30,000 in debt and receive a gross monthly salary of $3000, your DTI ratio will be 10:1, which means you owe ten times your gross income. Once you calculate and understand your DTI ratio, you can make better decisions on what budgeting rule to adopt. 4. Know Your Financial and Life Goals Financial and Life goals are useful in deciding what budgeting plan to go for. If your goal is to enjoy life, eat, and travel, you may have to go for a budgeting plan that gives more room for entertainment and fun. The 50-30-20 is a good example of this. 5. Consult A Financial Expert Meet with a financial expert, advisor, or someone with experience. Tell them about your income, goals, and financial difficulties if you want to get the best advice.

What To Consider Before Deciding On A 30-30-30-10 Budget?

Before you decide on practicing the 30-30-30-10 rule, here are some things to consider: Income Not all types of income can work with the 30-30-30-10 rule. Remember, the 30-30-30-10 rule states that 30% of your income should go to rent or mortgage payments. If 30% of your income cannot afford to pay your rent, this rule becomes inappropriate for you. Analyze your income, and find out whether 30% of your income can cover rents, expenses, or debt payments. Financial Goals Before you decide to use the 30-30-30-10 rule, make sure your financial goal aligns with it. Here are financial goals that require the use of the 30-30-30-10 rule: - Retirement: If your goal is to save for retirement, use the 30-30-30-10 rule since it directs 30% of your income to savings, retirement, or investment. - Buying a House: To buy a house, you need to save for a down payment. With the 30-30-30-10 rule, it can be possible to save. - Investment: If you want to make investments, the 30-30-30-10 allows you to invest 30% of your salary each month. - College: With the 30-30-30-10 rule, you can save up to 30% of your income for college. However, if your goal is to travel, the 30-30-30-10 rule may not be advisable since it only allows you to use 10% of your income for travel and entertainment. It can only work out if your income is high. Expenses Do your expenses take up a huge chunk of your income? If it does, the 30-30-30-10 rule which suggests 30% for expenses may not be useful to you. One way to go around this issue is by cutting down on your expenses to make sure that it only requires 30% of your income. Here are 21 Good Ways To Cut down On Expenses Debt The 30-30-30-10 rule recommends using 30% of your salary for savings, investment, or debt payment. So if you owe a lot in debt, this budgeting rule can help you get rid of it. In addition, if you don't have any debt, you can direct the 30% towards achieving your financial goal. Strict Lifestyle The 30-30-30-10 budgeting rule is heavy on saving and spending less. So if you are not ready to give up your fun lifestyle for a strict financial life, do not consider going for the rule.

How To Set up a 30-30-30-10 Budget

If you finally decide to use the 30-30-30-10 rule, here is a step-by-step guide on how to get started. Step 1: Calculate Your Total Take-home Pay Before you execute a budgeting rule, you need to know the exact amount you earn as a salary. If you are a salaried employee, calculating your monthly income is very easy. However, if you earn on an hourly basis, know how to convert hourly wage to monthly and annual salary. In addition, if your salary differs each month, calculate the average and use it during budgeting. Another Interesting Article: $13 an Hour is How Much Per Year? Step 2: Calculate Your Expenses If you make all your payments or transactions with a bank card, get your bank statement in order to calculate expenses. Look through 3 to 6 months of your bank statement and get an average amount you spend each month. Step 3: Categorize Your Expenses Once you get a list of all your expenses, categorize them in order to calculate the percentage of your income spent on each category. Since you're using the 30-30-30-10 rule, make four categories of expenses. The categories include: - Rent or mortgage payments - Expenses for example utility bills, car repair & maintenance, groceries, internet, gas, food, and other daily expenses. - Savings, Investment, or debt payment - Wants (subscriptions, travel, shopping, eat-outs. Step 4: Cut or increase spending to fit the percentages After categorizing your expenses, calculate the percentage of your income they require. If a category exceeds the required percentage, cut down on your spending. For instance, if your expenses on utility bills, groceries, food, internet, and gas exceed 30% of your income, find a way to cut down on expenses. Similarly, if your expenses are below the required percentage, increase your spending.

What To Do If Your Expenses Don’t Fit the Recommended Budget Percentages?

The 30-30-30-10 rule specifies the exact percentage of your income to spend on rent, daily expenses, debts, investments, and fun activities. But there are certain times when you may encounter leftovers or the expenses may exceed the recommended budget percentage. For instance, you earn a $3,500 monthly salary, and 30% ($1,050) of it is expected to go towards rent or mortgage payments. If your rent costs $900 per month, you'll have a leftover of $150. What do you do with this? Here are some suggestions: 1. Adjust Your Expenses You have the option of increasing or decreasing your expenses in order to fit into the 30-30-30-10 percentage rule. For instance, if 30% of your income is too low to pay your rent, find a cheaper apartment that allows you to stick to your budget. 2. Get a Second Job If 30% of your income can't cover your rent, expenses, or debts, get a side hustle to increase your income. Here are the top 15 Reasons To Get A Second Job 3. Save and Roll Over To The Next Budgeting Period If there are leftover funds after budgeting a percentage of your income, save them for the next period when you may be low on funds.

Pros and Cons of The 30-30-30-10 Budgeting Rule

Here are the benefits and downsides of using the 30-30-30-10 rule during budgeting: Pros - It allocates a high percentage of your income to savings, debts, and investments. Thus, it enables you to achieve your financial goals. - The 30-30-30-10 rule allows you to divide your spending into four categories - this is simple to do. - It is a good budgeting plan for salaried employees with a fixed and steady income. Once you receive your income, you'll already have a general idea of how much to spend on the expense categories. - With the 30-30-30-10 rule, you can develop good money habits. - It enables you to cultivate a strict financial life. - It leads to financial stability Cons - It may be difficult to cut down on expenses in order to fit into the budget percentage. - Unexpected expenses and emergencies can ruin the plan - The 30-30-30-10 rule only assigns 10% of your income to entertainment or wants. This can make your life a bit boring and strict. - Budgeting 30% of your income to rent or mortgage payments can be difficult due to high housing costs. It is only possible if you have a high income.

Other Popular Budgeting Methods

The 30-30-30-10 rule isn't for everyone. And if you think it doesn't work for you, here are other budgeting rules and methods to consider: 1. The 50-30-20 Budgeting Method This is one of the most popular budgeting methods. It assigns 50% of your income to needs, 30% to wants, and 20% to savings or debt payments. Unlike the 30-30-30-10, this budgeting rule is more lenient. It gives space for savings, but also allows you to spend on the things you want. 2. The 80-20 Budgeting Method The 80-20 rule divides your expenses into two categories - needs/wants and savings or debts. It is similar to the 50-30-20 method, the only difference is that it combines your needs and wants into the same spending category. 3. The 70-20-10 Budgeting Method This budgeting rule allocates 70% of your income to needs, 20% to savings, debt repayment, or investment, and the remaining 10% to wants. It is suitable for people whose needs take up a huge chunk of their income. 4. The 60-30-10 Budgeting Rule The 60-30-10 budget rule is well-suited for people with no financial goals or debt. It states that you should dedicate 60% of your income to needs, 30% to wants, and 10% to savings. If you have enough savings and need a less restrictive budgeting plan, use the 60-30-10 rule.

Final Thoughts

Overall, the 30-30-30-10 rule is a good budgeting strategy to adopt if you have a large debt balance or financial demands that need to be met. It is strict but allows you to achieve your goals. Read the full article

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9 Easy Ways to Get Cheap Razors (And Razor Blades)

The cost of shaving shouldn’t scare you away from having clean and smooth skin. While the prices of cartridges and modern blades are ridiculously high, they are easy ways to get cheap razors. However, the best place to get these cheap quality razors is online. Buying razors online will save you tons of cash with the guarantee of getting the right type you need. There are authentic online stores to get cheap razors which we’ll discuss in a bit, along with nine easy ways to get cheap razors (and razor blades).

How to get Cheap Razors

One should be careful about the places to get razors. You wouldn’t want a razor that would damage your skin or the low-quality ones. There are great and reliable places to get cheap and quality razors with plans that would provide you with a decent shave.

1. Dorco

Dorco is an online company offering reusable razor plans for both men and women. More so, their razors are available on Amazon and are very reliable. In addition, their razors are refillable, favorable, and relatively cheap. Very impressive about Dorco is that- you don't need to sign up for a monthly shaving plan if you want; you can opt for a one-time order instead. In addition, their razor is available for free on Amazon Prime shipping. They also offer a reusable handle and ten cartridges starter kit set of any blade size for first-time buyers. However, each blade size only has a single refill option. Notwithstanding, you can select the number of refill cartridges to as many as 16 refills and 12 cartridges 7-blades. The price for the different blade options for Dorco differs. You can get three blades starter set for $14.99 and $1.25 for each refill (16 refills available for $19.99). The four-blade option, which is better, starter set is $18.99 and $1.37 for each refill (16 refills available for $21.99). There's also the six-blade starter set for $21.49 and $2.08 for each refill (12 refills are available for $24.90). Finally, the seven blades starter set is $29.99 and $2.58 for each refill (12 refills available for $30.99).

2. Dollar Shave Club

The Dollar Shave Club shaving option is reasonably cheap. They also offer you the freedom to choose how often you want your cartridges to be replaced and other hygienic items. There's also a $5 starter set available for you to purchase. Furthermore, with Dollar Shave Club, you can get two different blade sizes with an average cartridge cost of $2.00 and $2.50. Four blades with four cartridges go for $8 per month ($2.00 for each cartridge). Six blades with four cartridges are $10 per month ($2.50 for each cartridge). However, choosing auto-shipments will offer you a $1 discount for each four-pack. As stated earlier, Dollar Shave Club also offers hygienic items, including shampoo, cologne, shave butter (shaving cream), aftershave and toothbrushes.

3. Harry’s

Harry's is another easy way to get a cheap razor blade. However, it only has a 5-blade razor option. But you can choose a reusable metal razor or a weighted rubber handle. There's also the option to add hygiene and shaving supplies to your order if you want. The downside of Harry is the unavailability of razor blade sizes. However, you can get different handles and other accessories from their set. Additionally, they offer other additional quality products. Harry is excellent if you want to save money on the best quality razor. They offer 5 to 6-blade razors, handles, and other add-on accessories. Their shipping schedule is flexible enabling you to order at any time of the year. Moreover, their one-time razor plan cost is; four cartridges for $9, eight cartridges for $16, and 16 cartridges for $30. On the other hand, their auto-refill plan costs; 4 cartridges for $8, 8 cartridges for $15, and 16 cartridges for $28. Furthermore, users can save additional money by signing up for the Core Plan, which costs $15 per year, including a 10% discount on all orders, early access to the latest products, expedited shipping discounts, and free engraving on chrome handle and others.

4. Gillette

Gillette is one of the most popular brands that offer cheap razor blades with excellent quality. It also provides different service plans at affordable rates. There are many razor options to choose from and many benefits for choosing its platform. Firstly, shipping is free of charge for most reusable razor refills. Gillette also offers you free purchase for every fourth order you make. You can also make one-time orders but you won't benefit from the free order offer. Gillette has four pricing options; the Gillette Mach 3 has 4-pack refills for $10 (cartridge costs $1.75), SkinGuard with 4-pack refills for $15, and ProGlide with 4-pack refills for $18 (cartridge costs $3.75), and Heated Razor with 4-pack refills for $25. Gillette also offers SkinGuard and Mach3 starter sets for as low as $10 and free shipping. In addition, you'll get two blades, a reusable handle, shaving cream, and a user-friendly blade cover. Gillette doesn't offer the cheapest shaving plan, but it is cheaper to buy your Gillette cartridges.

5. Billie

With Billie, you can get affordable razors with quality and attractiveness. However, it is primarily a feminine shave club. What's good about Billy is that shipping is free, and you only have to pay $9. You can get your shipment either once a month, once every three months, or once every six months. Their starter kit, available for the first month only, includes a magnetic holder, a handle, and two five-blade razor cartridges. The handles have different colors, including periwinkle, blush, the color blue, dreampop, and coral. Additional add-on accessories include wonder wipes, shave cream, and body wash.

6. ShaveMob

ShaveMob is renowned for its excellent and affordable razor-subscription plan. It's designed for men who want to buy cheap razors, even without signing up for their subscription service. Yes, it's just like the Gillette plan. There are many options available to choose from with ShaveMob: - The Baby Face with three razors - 4 Cartridges for $9.99 - 12 Cartridges for $14.99 - 24 Cartridges for  $24.99 - The Average Joe with four razors - 4 Cartridges for $10.99 - 12 Cartridges for  $17.99 - 24 Cartridges for $29.99 - The Caveman with six razors.       3. With Trimmer - 4 Cartridges for $12.99 - 12 Cartridges for $22.99 - 24 Cartridges for  $39.99       4. Without Trimmer - 4 Cartridges for $11.99 - 12 Cartridges for $19.99 - 24 Cartridges for $34.99 Even great about ShaveMob is that they offer an entire order at once. So, instead of waiting months for your new razors, you can receive them all at once in your first package. This is an excellent option if you want to save more on handling, shipping, and packaging costs. There are also cheap razors available for ladies on ShaveMob.

7. Dollar Tree

Dollar Tree is a great local place to get cheap razors. The price for a razor is as cheap as $1. Moreso, you can get a free shipping order from their online in-store pickup or their website. Even as cheap as they come, their razors have excellent quality. However, they are no high-quality disposable razors available, but the price is worth it. While you leverage other platforms, it's a good idea to have this on the ground just in case.

8. Get free samples from freebie sites.

Some stores like Target and Walmart offer free samples on razors for you to have a one-off while preparing for a permanent subscription. In addition, numerous websites are providing similar services with free stuff for trails. They often give free samples of razorblades with zero charges (aside from shipping), and their razors are of excellent quality. In addition, they are usually attached with coupons, so if you like their razor, you can buy them at affordable rates at local stores near you. However, most of these "freebie sites" only offer free men's razor samples.

9. Checkout Coupons for Local Stores

You could search for coupons available in nearby stores and get local options at affordable prices. Numerous sites are available to check regularly to get outstanding deals at discount rates, including coupons.com, P&G Everyday Rewards, and RetailMeNot. There are other coupon sites available; you just need to find the ones with great deals for razors. Additionally, you could stop by any top pharmacy chains and get some at affordable prices. Although they differ from other renowned means like The Dollar Tree, they are primarily on name-brand razors. You can visit any of the following chains around you to find some pocket-friendly razor prices: - CVS - Rite Aid - Walgreens What's good is that most of these pharmacies are always running several sale offers, with rewards programs that offer even more savings and match coupons from competing stores. So you can check them out and have yourself a cheap razor blade. People Also Ask

What is the Best and Cheapest Razor?

Dollar Shave Club and Gillette are the best and cheapest razors. Additionally, they offer great affordable shaving plans and free shipping. Gillette also offers free purchase for every fourth order you make, whereas Dollar Shave Club allows you to choose how often you want your cartridges replaced and other hygienic items. There's also a $5 starter set available for you to purchase.

What can Replace a Razor Blade?

Instead of using a razor blade to shave, you can wax, use an electric razor or electric trimmer. There is Laser hair removal that also gets rid of hair for an extended period. Better still, you could go for the epilator method that removes hair from the root so that you wouldn't have to shave for a long time.

What is the Cheapest way to Shave?

The cheapest shaving option is to get a quality razor blade sharpener alongside cheap disposable razors and, shave in the shower using toilet soap instead of shaving cream (which can save you some costs), sharpen the razor at intervals. This method could save a lot and have you spend as little as $0.02 per shave.

Should a 13-Year-Old Shave Pubic Hair?

It's normal for a thirteen-year-old to shave. However, they should be careful as pubic hair differs from facial hair. There are no health implications attached to teens shaving their pubic hair. Hence, it is entirely safe. On the other hand, if a teen is not interested in shaving public hair, that's fine and should be allowed to wait until they are comfortable with the idea. Frequently Asked Questions

How Often Should I Shave?

There is no definite schedule on how often to shave, but we recommend shaving every three to five days. Generally, how quickly your hair grows should determine how often you shave.

Why Does My 4-Year-old Have Pubic Hair?

Your four-year-old having public hair is no cause for alarm. Adrenal is a condition that causes kids to develop pubic hair, and these changes are entirely normal. You can shave it if you want, but be careful not to hurt their skin as they are generally more fragile than that of grownups.

Why do we have Pubes?

Public hair is like a protective buffer for our genital region because it's very delicate; it protects from germs and pathogens. It also helps in reducing friction, especially during sexual intercourse. You can shave your public hair if you want to. However, it is not compulsory.

Should I Shave my Pubic Hair?

Shaving public hair isn't compulsory; it is a choice and is completely healthy. There are several ways to shave your pubic hair, such as using a razor blade, waxing, or an electric trimmer. However, before shaving, you should be familiar with the method to avoid mistakes.

Is it Bad to Shave with an Old Razor?

Shaving with an old razor risks infections; it irritates the skin and is generally unhealthy. Besides, it is unsanitary and leaves you open to bacteria infection which could land you on a sick bed for days. If you find razors too expensive, try choosing cheaper razor options like Dollar Shave Club, Gillette, Harry's, or Dollar Tree. They offer cheap razors and affordable shaving plans to keep you clean and healthy. Read the full article

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15+ Best Business Quotes

If you are in need of some of the best business quotes to inspire you in your workplace, this article provides you with the best thought-provoking quotes. I've outlined below a compilation of some of the most insightful statements about a business that may serve as a guide for you as you work to build your company into something really remarkable. So, let's get to it.

Some Of The Best Business Quotes

#1. "It is better to fail in originality than to succeed in imitation." - Herman Melville #2. "Opportunities don't happen. You create them." - Chris Grosser #3. "Failure is not really a singular, devastating occurrence. You don't suddenly fall short. Instead, the loss is a few daily mistakes in judgment." #4. "Choice is influenced by attitude, and outcomes are influenced by choice. We have been given complete freedom to become both who we are and what we can become." #5. "Successful people do what unsuccessful people are not willing to do. Don't wish it were easier; wish you were better." #6. There is no guarantee that the chance will present itself to you. You need to make your opportunities rather than waiting for them to come to you. For that, you need to put in a lot of effort. If you put in a lot of effort, the individuals in your immediate environment will start paying more attention to you. #7. "It's impossible to be happy if you don't achieve success. The secret to success is happiness. You'll be successful if you're doing something you're passionate about." #8. “Hard effort, attention to the task at hand, and a willingness to succeed or fail, regardless of the outcome, are the price of success.” #9. "There is nothing wrong with celebrating a victory or two, but it is much more vital to learn from your mistakes.” Bill Gates "#10. After 20 years, it just takes five minutes to tarnish a reputation. if you think about it, your actions will be influenced." - Warren Buffett- #11. "One of the most common blunders individuals make is to attempt to make themselves interested. You don't select your interests; your interests choose you.” - Jeff Bezos - #12. As Albert Einstein famously said, the key to change is not to battle the old but to develop the new." By Philosopher Socrates.

#13. "The most adaptable species will prevail over the strongest or the most clever." naturalist, Charles Darwin #14. "Don't be diverted by criticism. If you want to taste success, you may as well eat a piece out of someone else. a.k.a. "The Great Awakening" #16. "It's all about doing the same thing in a unique way.” John D. Rockefeller. #17. "If you would perform your work even if you weren't paid, then you are now on the right track to success." Winfrey, Oprah #18. "As soon as someone sets foot outside, they'll be thirsty. To find out what people want to drink, all you have to do is ask." Arthur Blank

Frequently Asked Questions On Best Business Quotes

What are the best business quotes? - “You will have a lot of personal failures, but never allow yourself to give up.” - “The greatest accomplishment in life is not falling, but rather rising each time.” What is the key to success quotes? Success is within reach if you have the key to unlock it." One of the most important keys is to be an attentive listener. By embracing your unique qualities and purpose, you can overcome obstacles and move forward with discipline, courage, and strength. What is Warren Buffett's famous quote? "Value trumps price" is a famous quote from legendary investor Warren Buffett. It reflects his philosophy on investing and how he made his fortune by seeking out undervalued companies. What is Anne Bradstreet's famous quote? Anne Bradstreet once said, "God uses afflictions like a forge, heating and molding individuals until they are shaped into what he desires." This quote highlights the idea that hardships can lead to growth and personal development. What is a quote from Mark Zuckerberg? Mark Zuckerberg is known for saying, "Playing it safe is the riskiest move of all in a rapidly changing world." He encourages taking calculated risks in order to stay ahead and avoid failure. What was Elon Musk's quote? Elon Musk has several inspiring quotes, including "Change is necessary for progress," and "College taught me the importance of changing the world." He also believes that life should be more than just problem-solving and should be something that inspires us, even if it is just in a vicarious manner. What are the 10 most famous quotes? - “Fortune is on the bold's side.” - "I am because I believe I am," - “Money is time.” - "I arrived, I looked, and I won." - "Make lemonade when life offers you lemons." - "Perfection comes with practice." - "Knowledge is power," they say.” - “You'll never achieve perfection, therefore don't be afraid of it.” - “Life is what occurs while you're preoccupied with other plans.” - “The tough keep going when the trying gets difficult.” What Is The Best Short Quote? "Greatness can be achieved not only through grand gestures, but by performing the smallest acts with unwavering excellence." ~ Martin Luther King Jr. This quote captures the essence of King's philosophy that one doesn't have to do something monumental to make an impact. By doing even the smallest of tasks with unparalleled dedication and passion, one can attain greatness. The message is simple yet powerful, inspiring individuals to strive for excellence in all they do. What are 10 motivational Quotes? - "Embrace love wherever you go. Never let somebody come to you and not leave happy. " - "Tie a knot on your rope when you get to the end, then hold on." - "Always keep in mind how special you are. identical to everyone else." - "Don't assess each day from the crop you harvest, but rather by the seeds you sow." - "Those who have faith in the brilliance of the aspirations own the future." - "I forget what you tell me. I learn and I retain. I learn when you include me." - "The world's greatest and most lovely things must be experienced via the heart; they cannot be seen, touched, or even imagined." - "When things are at their darkest, that's when we need to concentrate to see the light." - "Anyone who is content will spread happiness to others." - "Don't follow the route where it may go; rather, create your own track where none exists." Read the full article

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8 Ways to Get Money from Scrap Metal

Scrap metal is an under-utilized asset that can help you make extra cash. With the right tools and knowledge, you can start your journey toward building a profitable scrap business today. Here are eight ways to earn money from scrap metal:

Scrap metal

What is scrap metal? It's a broad term encompassing anything made from metal that can be reused or recycled. This includes old cars, appliances like refrigerators and washing machines, tools, and machinery—even decorative items like ancient statues or fences can be considered scrap metal. The possibilities are endless! How do I collect scrap metal? If you have any business or work in the construction industry where you might encounter large amounts of discarded metal objects around town (like old cars), it's worth watching for them if they come your way. Otherwise, if you don't have one already built up through specific connections or professional contacts in the recycling field, it's time to start making some! Before proceeding, we must tell our readers that there are many laws specifically about this area of commerce. Please check with relevant governing bodies before acting on anything related hereon outwards.

Scrap bronze and copper

If you have any bronze or copper in your home, it can be sold for a pretty penny. Bronze is often used to make statues and other decorative items because of its beautiful color. Copper is commonly used in electrical wiring, cooking utensils, and roofing materials. Bronze and copper are precious metals that can be sold to scrap yards for cash! You may not realize how much bronze or copper is lying around your house until you start looking for it—many people don't realize how much they have until they start thinking about what to do with it. Selling scrap metal involves more than just picking up a phone and making an appointment with a local scrap yard (although this option is available). If you want to get the most money out of your unwanted items, consider these tips:

Scrap electrical wires

A wire is a widespread item. It can be sold by weight, length, gauge, type, or brand. Wire also comes in many different colors and insulation types. The price of scrap wire will depend on its composition and condition. For example: - Copper - $3 per pound - Brass - $1 per pound - Aluminum - $0.50 per pound

Old Appliances

- Copper, brass, and aluminum - Lead and other hazardous materials - Steel and iron - Plastic and other non-ferrous metals (these can be recycled for scrap metal) - Cast iron (this is usually sent through a shredder) * Stainless steel, which is not typically found in old appliances but can be found in jewelry (such as a watch strap), electronics equipment such as mobile phones, MP3 players, or laptops, cutlery and even building supplies like window frames.

Old car parts and rims

Old car parts and rims can earn you a nice chunk of change, especially if your city has a lot of auto shops or scrap metal yards. - Car parts: - Car batteries - Car engines (careful with these—they're heavy and sometimes dangerous) - Fenders (the metal part by the wheel) - Tires (you might need to sell them in pairs) - Car rims: - Tail lights: These are usually sold as a pair. A good seller will have both in working order and can tell you if they're cracked or not. You should also check that they aren't bent up; this makes them harder to sell later on down the line! - Headlights: Headlights are another common type of scrap metal that sells well, but they can be tricky because they're often expensive when bought new. If yours still functions correctly, it could pay very well for itself when it comes to the sale.

Old plumbing fixtures (faucets, showers, etc.)

Old plumbing fixtures (faucets, showers, etc.) can add up to decent profits. They're made of metal and easy to recycle and sell at scrap yards. If you have a metal detector, search around in old houses or buildings being torn down—you might find some hidden treasures. Now that you know what plumbing fixtures are and how much money they can be worth, it's time to start your treasure hunt. Here's everything else you need to know about collecting old plumbing fixtures: - What is a plumbing fixture? A plumbing fixture is any part of your water system that connects directly with the pipe itself; for example, faucets and showerheads are all part of this category. All these types need regular replacement throughout their lifetime due to wear-and-tear caused by heavy use over time (or if something breaks). That said... - What are some excellent sources for finding these items? Try searching through old houses before demolishing—they may contain hidden gems like these! You'll also want to look around town if there weren't any homes nearby that might've had most of their materials recycled already."

Old tools

Old tools, like wrenches and other hand tools, are usually steel. Steel is a valuable metal that can be recycled into new steel products. Most scrap yards will pay you in cash or give you store credit for old tools.

Aluminum cans

Aluminum cans are the most valuable scrap metal, costing about $0.50-$1.00 per pound (valued at the same rate as copper and brass). According to the US EPA, aluminum is also the most recycled item in America. That's because recycling aluminum saves 95 percent of its energy and 50 percent of its raw material value compared to producing it from scratch—and that's good news for your pocketbook.

Highest paying scrap metal near me

Now that you know where to find scrap yards, we can discuss how to find the best one for your needs. If you're selling scrap metal, you must look for a firm that pays a fair price and has been in business for a while. You can often tell this by looking at their website—if they have one! Most recyclers will have an active social media presence and post pictures of what they've picked up recently or are currently buying.

Another valuable resource is Yelp; many people leave reviews on their favorite shops and provide valuable insight into what makes each place special (or not). An experienced recycler can tell if a customer is taking advantage of them, so don't try anything funny—they'll spot it instantly.

How do scrap yards make money?

Scrap yards make money by buying scrap metal. This might seem obvious, but it's worth noting that scrap yards pay for scrap metal by weight, not by the pound or the ton or even the kilogram. If you want to get paid more for your metal, you need to ensure it weighs more than whatever weight they're currently paying for. An excellent way to increase the weight of your metal is through sorting. If you are removing screws from an old piece of furniture before bringing it into a yard, remove all of them and put them into one pile so that when you weigh your items in the yard, they don't get counted as additional ounces due to their small size. That way, only larger pieces are being considered and added to your total sale cost.

Frequently Asked Questions

How can I make money from scrap? You can make money from scrap metal by recycling it. If you have a pile of old, rusted car parts and other metal scraps that require recycling, there are several ways to turn them into cash. Sell Your Scrap Copper for Cash It's easy to find buyers for copper wire, pipes, tubing, and other items made of this precious material. Whether you're looking to sell your scrap copper as-is or melt down the materials at home before selling them on eBay or Craigslist is up to you—but either way, it will benefit your wallet! Recycle Aluminum Beverage Cans Into Money The metals inside aluminum beverage cans (aluminum itself) are also valuable and worth money when sold separately from their plastic coatings on either end (the "tin-plated steel shell"). Will scrap prices go up in 2021? The price of scrap metal has been downward since the late 2000s, and it's expected to continue falling for the next few years. According to MetalMiner, global prices could drop by up to 10% in 2021 relative to their current levels (which are already low). Scrap prices rose in 2018 due to increased demand from China, which had started buying lots of recycled materials as part of its "Green Fence Initiative." However, this spike was short-lived. We saw prices drop by about 20% throughout 2019 and are now below where they were before the Green Fence went into effect. While some may look at these numbers and assume there's no point in selling scrap metal anymore—why to bother if your earnings will be so low?—that view isn't entirely accurate. While making money off your junk isn't always easy or guaranteed (and it certainly won't happen overnight), there are ways you can make sure that whatever profit you do make is as high as possible by taking advantage of what's out there right now: How do you collect scraps? Once you've found potential leads on companies locally in your area that buy or process scrap metal from homeowners like yourself - take note! These businesses will often have different requirements for how much material needs to be delivered per load, so make sure whatever amount fits within those guidelines before filling up any vehicles with junked electronics. What pays the most at a scrapyard? Aluminum- The most common of the metals listed here, aluminum does not have as high a value per pound as copper, but it is much lighter. For this reason, it is ideal for larger projects. Copper- With a higher value per pound than aluminum or steel, copper is another popular choice among scrap metal buyers because of its malleability and durability. It's also environmentally friendly because it can be recycled repeatedly without losing integrity. Steel- While steel has less value per pound than copper or aluminum, it's still worth noting as one of the most common types of scrap metal found at your local scrap yard or recycling center. Steel also boasts excellent durability when compared to other materials such as plastic and wood (both useful in construction projects), so if you're looking for something strong enough to build with but doesn't require much time or money upfront, then consider collecting some old pipes from plumbing jobs around town before heading over to your local recycling center tomorrow morning. Brass/Bronze - These two metals are similar enough that we've grouped them here on our list; both have similar properties, like being malleable when heated up (which makes them great candidates for manufacturing new products out there). However, unlike brass which contains zinc along with other metals like lead, which make they are unsuitable for use in many industries today (due to regulations). Bronze consists only of carbon dioxide mixed with tin dioxide making these two materials quite different from each other despite having similar uses today thanks to past centuries when they were both commonly used. How do I start my own scrap business? Getting a truck and trailer is the first step to starting your scrap metal business. You can use this equipment to go out and collect scrap yourself or sell it directly to a scrap yard, processor, dealer, or another buyer. The next step is to find a location. You can set up a shop in your backyard or rent space from another business. If you have capital, purchasing land and building a facility yourself is possible. What is the most profitable material to recycle? The most profitable scrap metal is aluminum, followed by copper. Copper is used in many electrical and electronic products, so it's easy to see how that could be a hot commodity. Metal recycling isn't just for making new metals; it can also be used to make other products like jewelry, eyeglass frames, and clothing. If you're looking to get involved with the recycling industry, here are some things to consider: - The cost of shipping your items back home from where they were picked up (if applicable) will be deducted from your total earnings at the end of each month/year, depending on your chosen payment plan. - If there are any costs associated with retrieving your items after they've been sold off, such as storage fees or transportation expenses, then those costs will also be deducted from your earnings at the end of each month/year, depending on which payment plan you choose

Summary

These are all great items to collect to get some extra money. There are many ways to collect scrap metal. Here are a few: - The first place to look is in your home and yard, where you may have old appliances, tools, or other items made of steel. These can be sold for money at a recycling center or junkyard. - If you don't want to go out looking for scrap metal yourself, ask friends and neighbors if they have any pieces lying around that they don't need anymore—they may be willing to part with some if you offer them cash in return! - If all else fails, consider checking out your local recycling center or junkyard; people often donate items because they no longer need them but don't see any value in selling them online for very little money (or nothing at all). At Scrap King, we're committed to offering you the best scrap metal prices in town. We also want to ensure that your experience with us is positive. Read the full article

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Tada Review: How It Works, How Much It Pays

With the countless numbers of cashback and reward apps, it can be difficult to differentiate between legit and scam apps. If you're curious about how legit the Tada app is, here's a review that covers all you need to know about the app. What is Tada Cashback? Tada Cashback is a free application that compensates users with cashback for any online and in-store purchases made via its app. It also offers coupons, promo codes, and deals that reduce expenses.

Tada Review

Tada is owned by Prodege - popularly known as ShopAtHome. It also knows other popular and well-known cashback apps like Swagbucks, InboxDollars, and MyPoint. Owned by one of the largest online incentives firms, Tada provides top-notch and legitimate cashback and rewards services. Tada offers numerous opportunities for its users to earn cashback. It provides rewards to users on every purchase. Its incentive covers both online and in-store trades. Users can earn a $10 signup bonus and up to $50 for completing surveys. Although the app offers tons of benefits, its customer service chat window is a letdown. Nevertheless, Tada is a great website for anyone trying to make passive income through cashback. Shop Tada is affiliated with tons of retail stores. Hence, you can shop at your favorite store and enjoy promo deals via the Tada app. Tada is well-known for offering lower prices than goods sold at other stores. Its affiliation with multiple brands and stores enables it to negotiate lower prices on your behalf. Save Tada enables its users to save money and cut down on costs when shopping for items. Coupons, discount codes, and cashback offers - Tada has it all. Once you download and register on the app, shop for items via the app to receive discounts and vouchers. Reward Tada offers cash incentives to users who make use of its coupons, discount codes, and cashback services. For every reward-eligible activity you perform, you will receive points that can be redeemed for gift cards or cash via PayPal.

Tada Cashback, How It Works

To get started with Tada Cashback, download the app and register. Once your registration process is complete, navigate to the "All Store" menu/option to view all available cashback deals. The "All Store" menu will redirect you to the number of available coupons and an alphabetical list of all retailers affiliated with Tada. You can also view cashback rewards associated with each purchase you make. Not all listed stores on the Tada app offer Cashback rewards; hence, the Tada app lets you know which purchase you make is eligible for rewards. If you cannot go through the list of stores affiliated with Tada, use the search menu to find your favorite store. Another Interesting Article: 30 Best Cashback Rebate Sites Tada Digital Rewards You must accumulate at least $10 in your account to cash out your Tada balance. Once you reach its minimum threshold, you can exchange your earnings for gift cards, PayPal cash, or physical check via the mail. Tada offers popular gift cards like Amazon, Starbucks, Target, etc.

Ways To Earn Money On Tada App

Here are some of the ways to earn money on the Tada application: Coupons Tada offers incentives to users who print and utilize its paper coupons. You can print up to fifty coupons daily from the Tada coupon section. Tada pays $0.01 for each coupon you print out. It also pays $0.10 when you redeem the coupons. Using the Tada coupon service lets you save between $1 and $4 for every purchase you make on groceries, cosmetics, or household items. Tada Extension If you prefer shopping directly from your favorite online store, you can install the Tada plugin/extension that monitors your online purchases with your phone. Suppose you don't have the Tada app but want to make money, install the Tada extension. In that case, this extension monitors your online purchases and rewards you with cashback when you shop in any of its affiliated stores. Once installed on your device, the Tada extension will notify you and add a promo code to your shopping cart if there are cashback offers available from a particular merchant. Magic Receipts

Magic receipt is a feature included in most of the money-making applications owned by Prodege. This feature enables you to receive retroactive cashback when you upload pictures of your online or in-store purchase receipt. It also offers rewards when you print your coupons or make purchases via the Tada app. The Magic Receipt feature is limited to some products. It only allows you to earn money from uploading receipts from your groceries, food, and drinks receipts.

How To Earn Cashback On Tada

If you shop at any of the hundreds of stores that partner with Tada, you will receive cashback rewards. Some retail stores affiliated with Tada include Target, Walmart, Home Depot, and more. The process of earning is simple and straightforward. All you have to do is make a purchase via the Tada app or install the Tada extension that monitors all your online purchases. Once you complete a Tada purchase, you will receive 1% to 15% cashback. Scanning Receipts Scanning or uploading purchase receipts is another way to earn on Tada. You can earn a reward for every in-store purchase you make with any of Tada's partner stores. However, the receipt must be uploaded within 30 days of the purchase. Sometimes, you can connect your loyalty card to avoid uploading your receipt for every purchase.

Tada Rewards

Tada allows its users to cash out once they accumulate up to $10 worth of points. It has one of the highest minimum withdrawal amounts for cashback apps. When you upload a purchase receipt or make a purchase via the app, you will receive points as a reward - these points can be exchanged for PayPal cash or gift card of any kind.

Pros Of The Tada App

- It is supported by Prodege - a reputable money-making company. - Very user-friendly - Offers a substantial bonus - It enables users to convert points to cash via PayPal

Cons of the Tada App

- Most users complain of bugs that prevent the app from tracking receipts and purchases. - It has a high minimum withdrawal amount. - Eligibility criteria for the bonus are strict - You must spend $25 within 30 days of signing up to enjoy the signup bonus. - The cashback shopping rates were substantially lower than those of competitors.

How Does Tada Earn Money?

Tada is free to use and has no signup or hidden costs. So how does it earn money? Tada is a sizable affiliate marketing platform that generates revenue by linking customers like you with its affiliated merchants. It receives a commission each time a user registers or purchases something via its app. So, each time you purchase via Tada, the app will receive a commission from its partner store. Part of this commission will be given to you as a reward.

Which Receipt App Pays The Most?

There are tons of receipt apps that offer similar services as Tada. Most of these apps pay more and offer better services than Tada. Which receipt app pays the most? Rakuten! Rakuten is a well-known platform that offers Cashback services and lets you receive rewards for uploading photos of your purchase receipt. It is affiliated with over 2,500 stores, including electronic stores, clothing, games, athletic goods, and more. To get started with Rakuten, install its Chrome extension or create an account on the Rakuten application. Once you shop via the app, you will receive cash rewards via cheque or PayPal. Rakuten offers up to 40% cashback on each purchase. It also provides a referral bonus when you refer others to the app.

Swagbucks Review

Swagbucks is an app that offers similar services as Tada. Users on this app can earn rewards by completely quick online tasks such as watching videos, surfing the web, participating in online surveys, and more. Swagbucks offers rewards to users in points, also known as SBs. Once you accumulate enough points, you can exchange them for money or gift cards. You can transfer Swagbucks points into your PayPal account as cash or convert them to gift cards for stores like Amazon, Caffè Nero, and Tesco. Swagbucks lets its users donate points to charity organizations such as Unicef, the Wounded Warrior Project, The Humane Society, and the Breast Cancer Research Foundation. Download the app and sign up with your email address to start earning on Swagbucks. Membership is free, so you can participate in any of its money-making activities to earn points. Another Interesting Article: Swagbucks Review: Here’s How To Earn $1000

Final Words

Overall, Tada is a trustworthy platform to earn money. However, it is not a get-rich-quick scheme. You can only earn passive income with the app, not a huge sum. It is legit, safe, and recommendable if you plan to earn through cashback.

Frequently Asked Questions On Tada

Where Can I Sell My Receipts Tada, Rakuten, and Coupon.com are some of the best apps to sell receipts to. Simply scan your purchase receipts on any of the apps and wait for approval. Can I Earn Money By Watching Videos Yes! You can earn money by watching videos. Sites like Swagbucks and InboxDollars reward users for watching ads and videos on their sites. Rewards are in cash or gift cards for Amazon, Target, and Walmart. Is Tada a Legit App? Yes! The Tada app is legit and not a Ponzi scheme. Users can access discounts, coupons, and cashback rewards once they complete tasks on the app. Read the full article

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The #1 Key To A Successful Budget

Have you tried making a budget? Was it successful? If it wasn't, there's a high chance you're missing the key components to a successful budget. Many believe budgeting to be time-consuming, daunting, and overall boring. If you share in this belief, here's the truth, budgeting is fun if you are doing it the right way. But what is the right way? In this article, I'll highlight the key to a successful budget, the right ways to plan and make a budget, budgeting tips, and the features of a successful budget.

#1 Key To A Successful Budget

If you have ever wondered why your budgeting plan doesn't work out, it could be that you lack the commitment to carry it out. Commitment is the #1 key to a successful budget. Anyone can make a budget. Once you review your income and expenses, you can easily come up with a realistic plan that aligns with your financial goals. But regardless of how realistic your budget is, it won't work out if you lack commitment to the plan. Therefore, commitment to a budget is what makes it successful. But as you know, commitment to a budget is easier said than done. It requires a high level of self-control and consistency. To build self-control and consistency towards a budget, you need to know the right way to make a budget.

Right Ways To Make A Successful Budget (Guide On How To Make A Budget)

If none of your budgeting plans have ever worked out, it's time to admit you're not doing it the right way. Here's a simple guide on how to make a budget that works. 1. Calculate and State Your Net Income Knowing your actual monthly income is the first step to having a successful budget. If you own a business, your profits less taxes is your net income. But if you're paid by an employer, the salary you receive is most likely your net income. Do not create a budget based on your total income. It makes you overestimate your goals and abilities. Having an understanding of how much you really earn ingrains a consciousness in you. This consciousness often arises when you're tempted to overspend. Thus, it is helpful. Once you're always conscious of your financial status, you will become more likely to stay on budget. 2. Track and List Out All Your Monthly Expenses Once you spell out your net income, listing out your monthly expenses is the next thing to do. Do not neglect an expense. List them all out. Doing this enables you to point out areas where saving is possible. It also helps you understand your spending pattern and how to cut down or stop certain spending habits. Start by listing out your fixed monthly expenses. Here are a few inevitable fixed expenses: - Rent or mortgage payments - Utility bills (internet and phone bills, water, gas, and electricity) - Groceries - Loan payments (car loans, student loans, and personal loans) - Insurance payments - Retirement Savings - Child Care Support Oftentimes, fixed expenses are inevitable and leave no room for adjustments or savings. So it is important to also list out your variable expenses regardless of how insignificant you think they are. Looking at your bank statement is a good way to discover your monthly variable expenses. Another Interesting Article: 21 Cheapest Ways to Live to Cut Your Living Expenses 3. Set Realistic Financial Goals Once you gain an overall understanding of your income and expenses, set a financial goal in mind. This goal must be realistic. Do not underestimate or overestimate yourself. Set a financial goal that can be accomplished. For example, if you have a smoking habit that eats into your income, set a budget that allocates funds for cigarettes. Most smokers overestimate themselves by setting a budget that does not include cigarette costs. They do this in hopes of saving money. However, they end up spending on it, making their budget plan a failure. The reason most budgets fail is due to their unrealistic goals. If you know you're incapable of cutting down on your monthly internet bills, do not set a goal that includes less amount for internet bills. Overall, be realistic. Know what you can and cannot do. 4. Make Adjustments To Your Expenses Once you set a goal in mind, make spending adjustments that align with the set goals. If your goal is to cut down on your monthly subscriptions, take a look at your subscriptions and choose lower-cost plans. Similarly, if your goal is to cut down on grocery expenses, you can begin to take advantage of coupons and deals offered by stores and sites. If you have a saving target in mind, study the expenses you make and find areas that can be adjusted. 5. Commit To The Budget This is the part most people seem to skip. Once you set a goal and create a budget, commit to it. Make stickers of your budget and place them where you can always see them. If this doesn't work for you, seek the assistance of a friend or family member. They can help supervise and manage your expenses. Another way to commit to a budget is by seeing it as a game or challenge. 6. Review Your Budget Regularly Always study and review your budget. Doing this can help you discover more savings opportunities. The process of reviewing your budget involves carrying out the steps and guide mentioned above.

3 Key Components Of A Successful Budget

For a budget to be successful, it has to possess the following components and features: Flexibility A flexible budget is a budget that can be adjusted. When making a budget, leave room for adjustments. This is because life is unpredictable. There are times when you'll have no choice but to overspend in a situation. Thus, your budget must be able to accumulate sudden changes without ruining your goals. Practical A well-planned and practical budget is a successful budget. If you set a high and unreasonable target, the chances of it being successful are low. Your budget must be created after carrying out a series of thoughts and research. It must align with your ability. Inspiring and Motivating A look at your budget should get you inspired and motivated. If you're motivated by your budget, it leads to consistency and commitment to the budget. Which in turn leads to a successful budget. To keep your budget inspiring and motivating, engage in saving games and challenges. Give yourself a prize or reward each time you complete or accomplish a budget.

11 Tips For Budgeting

To get started on your budgeting journey, here are a few tips that could come in handy: 1. Budget To Zero Once you receive your salary, make a budget for every single dollar. When you give a name or task to every dollar, you'll be less likely to engage in overspending. This is called zero-based budgeting. 2. Involve a Friend or Partner Making budgeting plans with a trusted friend or partner increases your chances of having a successful budget. Plus, it's fun and motivating. 3. Make a New Plan For Each Month Each month comes with different expenses and saving opportunities. For example, you're most likely to spend more during Thanksgiving month. So, it is important to conduct a regular review of your budget. 4. Pay Off Debts First If you owe debts, your budgeting plan must prioritize paying off the debt. Some of the fastest ways to pay off debts include: - Debt Avalanche: This is when you focus on paying off debts with the highest interest rates. - Snowball Method: Unlike debt avalanches, this method suggests that you start by paying off the lowest debts. - Debt Consolidation: This method involves combining all your debts into a single account. 5. Set Goals Having a goal that aligns with your budget keeps you motivated. However, it is important to set practical and realistic goals. 6. Track Your Progress Keep track of how you're following your budget and goals. You can do this on a daily or weekly basis. When you keep track of your progress, you can easily point out areas you're lacking. 7. Do Not Use Credit Cards Using credit cards can lead to overspending. Stick to the use of cash or prepaid cards. Using cash makes you conscious of your expenses. 8. Use an Online Budgeting Tool There are tons of online budgeting tools that make budgeting easier. If you find it stressful or boring to analyze your income and expenses, try using online tools. 9. Be Lenient With Yourself When setting goals, give yourself some sort of grace. Do not go hard on your financial goals. Start by setting goals you can easily accomplish. Once you succeed at the first goal, aim for something higher. 10. Categorize Your Needs and Wants Prioritize your needs over your wants. If you can, cut down spending on things you can do without. 11. Try Automation There are tons of apps that make budgeting fun and easier. These apps offer features and tools that help you achieve your financial goals. Another Interesting Article: How to Cultivate a Budgeting Mindset in 4 Easy Steps

7 Best Budgeting Apps In 2024

Here are the best and unique budgeting apps to use in 2024: 1. Rocket Money (Formally TrueBill) This is one of the best budgeting apps to download. It is free but allows you to enjoy advanced budgeting tools for as low as $3 to $12 per month. Rocket Money is most known for helping users cut down on their expenses. This app tracks your spending and categorizes them. Read More: Rocket Money Review: Can It Really Cut Your Bills Automatically 2. PocketGuard PocketGuard is another popular budgeting app. It is well-known for its budgeting planning and bill-organizing tools. With this app, you easily pay off debts and achieve savings goals. Most of its tools are directed towards helping you pay off your debts. 3. EveryDollar This is a premium budgeting app with tons of advanced features. Some of which include bank connectivity, smart tracking, financial coaching, budget customization, export to CSV file, paycheck planning, custom reporting, and more. 4. YNAB You Need A Budget (YNAB) uses the zero-based budgeting method. Once you install and grant this app certain permissions, it'll assign a plan/task to every dollar you receive as income. YNAB analyzes your spending habits and categorizes them. It then proceeds to tell you how much should go into the various categories. 5. GoodBudget Good Budget is a unique budgeting app that uses the envelope method. The envelope method is a budgeting method that involves putting a cash amount of cash in labeled envelopes. Each labeled envelope with cash represents the amount you assign to an expense. This method enables you to easily track your expenses and know your financial stance. GoodBudget adopts this method. But rather than use cash, the app allows you to transfer/portion money to different online envelopes. 6. HoneyDue If you have a budgeting partner, this app offers budgeting tools that accommodate two people. It allows you and your partner to sync your bank accounts. It analyzes the spending habits of the two accounts and categorizes them - this makes it easy for couples to budget their finances together. 7. Personal Wealth This app acts as a budgeting, investment, and wealth management tool. Once you download this application, you'll be required to connect your bank and savings account, credit card, or retirement account. Afterward, you'll be free to enjoy tools such as an automatic budgeting tool, net worth tracking, savings planner, cash-flow overview, and more.

Conclusion

Overall, the key to a successful budget is commitment. The best budgeting plan can fall through if you lack commitment to the budget. The above article provides tips and guides that help you stay committed to a budget.

Frequently Asked Questions On Budgeting

Why Is Budgeting Important? Having a budget stops overspending, creates financial awareness, makes you prepared for financial emergencies, and makes you reach your goals. What Is The 50 30 20 Budgeting Rule? The 50/30/20 rule states that you should assign fifty percent of your net income to needs, thirty percent to wants, and twenty percent to savings or debt payments. What Is The Easiest Way To Make A Budget Budgeting applications make it easy to create a budget. Some free budgeting apps to consider include Mint, YNAB, PocketGuard, and GoodBudget. Read the full article

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17 Painful Consequences Of Not Budgeting

Living without a budget gives you a sense of freedom, but in the long run, it comes with painful consequences that could destabilize your future and goals. To be honest, budgeting is no fun. It is a restrictive and overwhelming act. However, it comes with tons of benefits that make your financial life easy. If you still aren't interested in creating a financial budget, this article will give you a change of mind. It highlights seventeen devastating consequences of not having a budget.

17 Painful Consequences Of Not Budgeting

Budgeting acts as a guide to your financial life. Without this guide, you'll tend to experience most of the following consequences: Increased Debt Everyone has a moment in life when they need to overspend. Thus, going into debt becomes unavoidable. However, if you're always needing to use your credit cards, it is due to your inability to budget. Having a budget gives you an awareness of the state of your financial life. Without this awareness, you'll always fall victim to impulse spending. And one thing is sure, impulse spending will lead you into debts that could have been easily avoided. The more you spend impulsively, the more debt you'll accrue for yourself. And if you're slow to realize or correct this impending doom, you'll fall into a financial crisis. Inability To Save

A financial budget gives you a clear picture of the total amount you receive as income in a month. With this information, it becomes easy to manage how you allocate funds to expected expenses. And if you intend to save a certain amount, you can easily know how and where to cut down on expenses. For example, if you earn about $3,500 monthly and wish to save $700 every month, you can easily make out how to live on $2,800 with a budget. But if you don't have a budget, you'll tend to spend recklessly, thus preventing you from having enough to save. Bad Credit Score People who don't budget have one thing in common, which is unpaid debts and loans. When you don't budget, you become prone to overspending, which eventually leads you into debt. With your financial life in a mess, paying off the debts will prove difficult, thus, damaging your credit score. Getting addicted to the use of credit cards is very easy. Once you develop the habit of buying things on credit, it becomes difficult to stop. And if you max out your credit card, paying off the debts becomes even more difficult. When this happens, your credit score bears the brunt. A credit score shows how responsible you are towards paying off your debts. A high credit score means you're financially responsible, but a low credit score indicates your inability to maintain a good financial life. With a negative or low credit score, it'll be difficult to take out loans in the future. Thus, it is important to always maintain a good credit score by budgeting. Struggle To Meet Financial Goals If you plan to get a new car or save for college and emergencies, you'll need to create a budget. With a budget, you can know how to cut your expenses and how much to allocate each month to your savings. But if you don't budget, you'll lack in-depth knowledge of your financial situation and will struggle to meet any financial goal you set for yourself. Creating a financial goal for yourself isn't enough. You also need to outline how to achieve them. For example, if your financial goal requires that you save $500 each month, but you make $2,500/month and spend $2,300 each month, here's what to do. Make a list of all your expenses in a month, and cancel out the unimportant ones. You also need to cut down on the amount you allocate to the important stuff. If you still can't meet up with the $500 saving goal, take up a side hustle. Budgeting enables you to know how capable you are of meeting financial goals, and when you need a side hustle. Develop Overspending Habit When you lack awareness of your financial situation, you'll develop the bad habit of spending beyond your means. Aside from helping you meet your financial goals, budgeting also gives you financial understanding and makes you more reserved in spending. When you're conscious of every expense you make, it'll be easy to spend within your means. However, life without a budget is less restrictive. Since you lack consciousness of your financial situation, you'll spend without care. And once you begin to use your credit card to pay for things you don't have the money for, you'll never actually stop until you max out on the card. Another Interesting Article: 11 Causes of Overspending and How to Avoid it Lack of Financial Control Having no control over your finances is the worst that can happen to you. Lack of control opens you to a life of debt, financial stress, dissatisfaction, and constant anxiety. Additionally, if you can't get a handle on your expenses, income, and savings, you'll be swayed by the storms of life. One way to get in control of your finances is by budgeting. With budgeting, you can direct your income on where to go and where not to go. You can also know your ground, how to salvage an emergency, and whether to adjust your financial life.

Financial Stress And Anxiety Not reaching your financial goals and not knowing where all your money goes each month can put you under stress and anxiety, which in turn can lead to depression, low self-esteem, and substance abuse. When you have no budget, insight, and control over your finances, your mind becomes unstable. You'll begin to worry about having enough to last you until your next paycheck. On the other hand, budgeting gives you peace of mind. Since you control where your money goes, and how it is working for you, you become less anxious and more satisfied with your life. Another Interesting Article: How to Cultivate a Budgeting Mindset in 4 Easy Steps Difficult to Pay Off Bills During the start of each month, everyone with or without a budget allocates funds for expected bills to be paid. These bills can be anticipated, and are often for rent, utilities, subscription, and insurance. However, certain unanticipated bills come up at the middle or end of the month. They may include car repair emergencies, appliance repair, or medical bills. To pay these bills, you must have a budget that includes savings for emergencies - this is why having a budget is important. If you have no budget for emergencies, paying off these bills becomes difficult. And you'll find yourself in a situation that requires you to take out loans. Inability To Invest To invest, you need funds. And one way to get funds is by saving. How do you save? By making a budget! Budgeting allows you to determine how much money you need to put out each month to meet your financial goal. It also allows you to develop control over your finances - this is important for investment. Additionally, there are certain attitudes and behaviors you need to cultivate to become a good investor. When you create a budget and stick to it diligently, you'll naturally develop the attitude. Impending Crisis As you know, a financial life without a budget leads you into debt. And once you're in debt and unable to find a solution out of it, you can easily go bankrupt and lose every asset you own. Lack of budgeting, planning, and foresight brings about financial crisis that takes time to deal with. So if you're currently not budgeting your finances, there's a high chance you're a few steps away from financial disaster. To avoid this situation, take budgeting seriously. A budget puts you in a position where you can monitor and manage impending crises. It also allows you to find and cover up loopholes in arise in your financial life. Unexpected Expenses

Whether you budget or not, you'll be met with unexpected expenses. These types of expenses which include car repair emergencies or medical bills are capable of throwing you into debt or leaving you short on money. If you have a budget, you can be prepared to evade the situation by taking out of your intended savings or cutting down on other expenses. However, having no budget means having less or no savings to salvage the situation. Additionally, a lack of budgeting leads you to incur unexpected expenses. You tend to make financial mistakes since you have no insight into how and what to spend to have enough for savings. Scramble During Financial Emergencies Financial emergencies happen from time to time. It could be sudden job loss, home appliance repair, car breakdown, or theft. Whichever one it is, you'll be required to use saved-up funds to settle the problem. But what happens when you have no savings or budget for emergencies? You'll scramble. Not budgeting for emergencies can lead you to make difficult decisions like borrowing from family or digging into your retirement savings. In most cases, you'll have no choice but to go into debt. Having a budget for any emergency is important. It enables you to avoid entering into financial difficulty. Lack Of Financial Contentment Financial contentment means being satisfied and happy with your financial situation. One of the first steps to financial contentment is budgeting. With a budget, you know what you can really afford, making you cut your coats according to your size. Lack of budgeting, on the other hand, causes discontentment. When you have no budget and financial plan, you start comparing yourself with friends or family. Once the comparison begins, it could lead you to spend beyond your means in a bid to catch up with others' lifestyles. And once you start spending beyond what you can afford, you'll go into debt. Inability To Teach Your Children About Budgeting If you're a parent, teaching your kids how to make and manage money is important as it helps them make better financial decisions in the future. Teaching kids how to make money may be easy, but teaching them how to save, budget, and stick to a budget is often difficult. Kids learn better from imitation. If you're a careless spender with no family budget, your kids will tend to imitate your behaviour which can lead them to make harmful financial decisions later in life. You are a role model to your children, and the way you act towards your finances will reflect on your kids. If you budget and spend money wisely, there's a high chance your kids will follow this path. No Plans For Retirement Living without a budget means you can spend money however you want. Although this is fun and unrestrictive, it also means you have no plans for retirement. One main benefit of a budget is that it allows you to save for emergencies, a marriage, retirement, and whatnot. When you understand your finances and put out money each month for savings, you're planning for retirement or whatever problems that could arise in the future. During retirement, you may have no major source of income to support yourself. If you don't make a budget now and save, you'll become a liability to your family or kids.

Lack Of Priority To create a budget, you need to know your income and spending habits. In addition, you also need to list out your savings plan and financial goals. All these processes help you realize your life priorities. Once you understand these priorities, you can list them in order of importance and include them in your budgeting plan. But if you're not into budgeting, it may be difficult to know your financial priorities. Should I start saving for retirement or pay off my debt? Is it time to take out a mortgage loan? Should I go on a trip? What financial decision is suitable for me? All these questions can be answered if you have a clear understanding of your finances through budgeting. Lack of Emotional Security Emotional security means having an emotional sense of stability, safety, and confidence. This often occurs when you have a healthy relationship with people and a good financial situation. People who budget have a sense of confidence in their emotional well-being. They have no impending financial crisis to worry about, thus they can form a healthy state of mind. This isn't the case for people who don't budget. People with no budgeting plan are often in a state of worry. They constantly worry about the future and to pay off debts. This prevents them from having a sense of stability, safety, and confidence.

5 Benefits of Having A Budget

Most people create budgets to save money. However, there are tons of other benefits associated with budgeting. Some of them include: Financial Control A budget puts you in control of your finances. It enables you to know your expenses and the reason behind them. Additionally, budgeting takes away surprises from your financial life. It gives you direction and enables you to evade impending financial crises that could arise. Enables Savings and Investment Investment is one of the best ways to amass wealth and prepare for retirement. But to invest, you need funds that can be gotten through savings. To save, you need to budget. Helps Avoid Debts A budget gives you a clear picture of what you can afford and what you cannot. Thus, it helps you to spend without going into debt. If you're already in debt, a budget can also help you get out of it. Once you understand your spending habits, you can know how to cut down on it to save money that can be directed towards paying off loans. Financial Cushion During Emergencies Financial emergencies have the ability to throw you off balance. But if you have a budget that includes savings for emergencies, you can get back on your feet. Prevents Overspending When paying for bills, subscriptions, food, transportation, or rent, it is very easy to lose track and overspend. But a budget prevents this from happening. A budget lists out your income and what to spend. Thus, it prevents you from spending on unnecessary things.

How To Make An Effective Budget

Not all types of budget can help you save or stay in control of your finances. Thus, it is important to know how to create a budget that works effectively. Here's a simple guide:

Step One: Calculate Your Income The first step to take when creating a budget is to calculate your net income. Keep track of all your sources of income and know exactly how much you earn monthly. Step Two: Track and Understand Your Spending Habit Understanding your spending habits enables you to easily point out areas where savings and changes are possible. For example, if you track your expenses and notice that you spend a lot on subscriptions, you can decide to unsubscribe or seek cheaper subscription deals. When you understand how you spend, you can create a realistic budget. To track your expenses, study three months' worth of your bank statement. Step Three: Point Out The Non-negotiable Certain expenses are non-negotiable - you can't cut down on these expenses however hard you try. They include utility bills, healthcare, and rent. Hence, it is important to differentiate between negotiables and non-negotiables. Make a list of expenses that are negotiable and find out ways to negotiate on them. Step Four: Set A Financial Goal To stick to a budget, you need a financial goal that motivates you each time you feel down. Make a list of everything you wish to achieve with your budget and stick it to where you can always see it. Step Five: Make A Plan Sticking to a budget is not as easy as it seems. Hence, it is advisable to make a plan on how to stick to a budget. You can choose to entrust your credit card to a loved one to avoid unnecessary spending. Most apps provide features that let you stay disciplined. Step Six: Keep Reviewing The Budget Once you're done making a budget, conduct regular changes to make it more effective. Another Interesting Article: 12 Easy And Effective Budgeting Tips For Beginners

How To Make Budgeting Fun

Staying on budget and limiting how you spend money is no fun! But they're ways to turn it into something fun. Make Short Term Goals If you make a one-year or two-year budget, there's a high chance you'll end up not sticking to it. Long-term budgeting can be fun at the start, but you can easily get bored and tired midway. Stick to making weekly or monthly budgets. Create A Reward System To make budgeting fun, you can create a reward system that encourages and motivates you. Read the full article

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How Many Months Of Emergency Fund Is Enough?

What are your plans if you lose your job today? How long until you get a new job? Do you have enough in your emergency funds to cater for yourself when an unexpected event occurs? All the above are questions that need an immediate answer. Emergencies are unpredictable events capable of destabilizing your finances. And if you don't act one step ahead, your financial life may be doomed. So make plans for emergency funds to cushion you from setbacks. If you're curious about how many months' funds are enough to cater for an emergency, read on to find an answer.

What Is An Emergency Fund

An emergency fund is a savings bank account created to act as a financial safety net in the case of a job loss or when unexpected bills arise. When you create an account that is dedicated to emergencies, it becomes your emergency funds - this fund can only be used for emergencies that require it. To build an emergency fund, make a budget and decide on how much to save daily. Make a goal and set up automatic direct deposits. Continue making deposits even after exceeding your goal.

How Many Months Of Emergency Fund Is Enough?

According to many financial experts, you should have at least three months' worth of emergency funds. If you have a family or people that depend on your income, make emergency funds that could cover six months of expenses. To conclude, make three to six months' worth of emergency funds. If you think this isn't enough, you can expand your savings goals.

How Many Months Of Emergency Fund Is Enough For You

Everyone's living expenses are different. Your colleagues may need to save only three months' worth of emergency funds, while you may need to save more. To know how many months of emergency funds is enough for you, here's a guide: Know Your Financial Situation According to Elizabeth Plot, founder of Primas Financial Planning, the right emergency fund is dependent on your circumstances. Once you understand your financial situation, you'll know how many months of emergency funds to save. 1. If you have an unstable job, you may need to be proactive and save many months of emergency funds since the probability of losing your job at any time is high. 2. If you owe debts, do not stress about saving money for emergencies. Focus on paying off the debts to avoid incurring overdue fees. If you make monthly debt payments on time, it'll build your credit score. And with a good credit score, you can take out loans during emergencies. Erin Lowry, author of the Broke Millennial book series advises on saving at least one month of emergency funds if you have debts to pay off. 3. If you're just starting an emergency fund, make a goal to save at least three months' worth of living expenses. Once you reach and exceed twelve months, make other financial goals. 4. If you want to be financially secure, save at least six months' worth of emergency funds. 5. If you have no fallback plans, save six to twelve months' worth of funds. 6. If you're close to retirement, make arrangements for one to two years worth of expenses. Be mindful of how much you spend before retirement. Focus on saving as much as you can. Another Interesting Article: 21 Cheapest Ways to Live to Cut Your Living Expenses

How Much Should You Put In An Emergency Funds Per Month

To calculate how much to put in an emergency fund per month, you need to review all the expenses you make in a month. Here are the expenses to review - Utility bills - Transportation Cost - Groceries and toiletries - Mortgage Payment - Child care - Health care and medical bills - Debt payment - Insurance Request your bank statement and review the expenses you made in the last three to five months. Do this to get the average amount you spend in a month. For example, if you review your bank statement and discover that you spend $2,900 in the first month, $2,500 in the second month, and $2,700 in the third month. Then the average amount you spend in a month is $2,700. $2,900 + $2,500 + $2,700 = $8,100 $8,100 ÷ 3 = $2,700. Since the average amount of expenses you make in a month is $2,700, you should put $2,700 into your emergency funds account per month. In conclusion, put the average amount of money you spend in a month in your emergency funds account. Note: It does not matter how long it takes for you to save up to three months of emergency funds. Go at your own pace. Put away a small amount each week or month until you achieve your goal.

Is 3-Month Emergency Funds Really Enough?

Financial experts advise on having at least 3 months' worth of living expenses in emergency fund. But, is it really enough? Yes! A three-month emergency fund is enough to get you through a period of unemployment. However, if this period gets prolonged, you may fall short of funds. Thus, it is recommended to aim for six months' worth of emergency funds. During these six months, you'll have enough time to go job hunting.

How Do I Set Up My Emergency Fund

If you plan on setting up an emergency fund, here's how to get started: 1. Decide On An Account To Use Funds in an emergency account are not meant to be used until an emergency occurs. So go for an account that does not make your money easily accessible. A savings account is ideal for saving your emergency funds. The number of withdrawals is limited and your money stays liquid and safe. Find a savings account that offers high interest and low annual fees. Note: Do not invest in stocks or bonds with an emergency fund. The market is volatile and the chances of losing your money are high. 2. Set Small Goals Making big and unrealistic goals for an emergency fund can demotivate you. So rather than plan for a three-month worth of expenses, start with a two-week or one-month goal. Set aside little amounts until you achieve your small goal. And once it is achieved, make bigger goals. For example, if your one month's living expenses sum up to $2,700, set a target to save $200 weekly. It doesn't matter if it takes up to two months to save one month's worth of emergency funds. Make small but regular contributions until you save three to six months' worth of emergency funds. 3. Avoid Making Withdrawal Once you set up an emergency fund account, avoid making withdrawals at a minor inconvenience. Only tap from the account when you experience a major emergency. 4. Automate Your Savings Link your savings account to your checking account and automate your savings process. Instruct your bank or employer to deposit a specific amount of money during certain times of the month. 5. Reduce Monthly Spending Setting up an emergency fund account can bring a sense of relief, comfort, and security. While this is good, do not get too comfortable as it can lead you to make unnecessary expenses. 6. Do Not Over Save Saving money for emergencies is great. However, do not deprive yourself of certain enjoyments. Once you meet your emergency fund goal, direct your money into an investment.

Why You Should Have An Emergency Fund

Aside from financial security here are other reasons you should have an emergency fund: - Having a fund for emergencies prevents you from relying on credit cards and loans. Thus, there's a low chance of getting into debt. - Prevents Unnecessary Spending: If you channel parts of your income to a savings account, it will prevent you from having enough to spend on unnecessary things. - Less Stress: Having a financial emergency without funds to tackle it causes stress and other mental problems. But if you save up for an emergency, you'll avoid going into stress. - An emergency fund acts as a shock absorber and prevents you from falling into a financial hole.

How To Build A Larger Emergency Funds

Saving for a 3 to 6 month's worth of emergency funds is easier said than done. Living expenses take up most of your income and leave you with nothing for savings. If you're having problems building a larger emergency fund, here are tips to help you: 1. Do not rush your saving process. Make little contribution until you achieve your goals. If you strain your finances in order to rush the process, you'll be stressed out in the long run. For most people, it takes a couple of years to save for a six months worth of emergency funds. 2. Take a side hustle: If your living expenses do not allow for savings, look into the idea of starting a side hustle. 3. Allow your employer or bank to transfer a certain amount of money each week or month to your savings account. If you set a daily or weekly automatic transfer, you'll end up building a large emergency fund in no time. Another Interesting Article: 18 Side Hustles With Low Startup Costs (Less Than $100)

Conclusion

A three to six month's worth of emergency funds is enough for you. But if you make enough money, you can stretch it to twelve to eighteen months.

Frequently Asked Questions On Emergency Funds

Where To Keep Your Emergency Funds Emergency funds should be kept in a high-yield savings account. Find an FDIC-insured bank with high yields and lower charges. When Should You Spend Your Emergency Funds? Emergency funds should be only used when there is an actual financial emergency like job loss, sudden illness, income reduction, and car repairs. What To Do After You Have An Emergency Funds Once you save enough for emergency funds, make investments, increase your monthly debt payments, save wedding funds, and save for a downpayment on a house. Read the full article