Dealing with student loan debt can seem unbearable and overwhelming. As mentioned in the article, 15 Ways To Deal with Student Loan Debt, the average student owes a whopping $40,000 after graduation but almost 19 percent owe $50,000 and above with 5.6 percent owing over $100,000.
Maybe you worked hard to save money in college diligently keeping your student loan debt in mind. Maybe you made some huge financial mistakes during college and ended up taking out much more than you imagined. Whatever road you took to have this student loan debt, now is the time to start planning your exit route.
We get it. You’re starting a new businesses and you’re strapped for cash. There are a million questions going through your head. We empathize with bootstrapping entrepreneurs and small-business owners everywhere, and today we explore meaningful ways (that add up) where your business can save money in the early phases. That said, every small-business owner and entrepreneur has a unique set of circumstances that pertains to their business, industry, strategy, and execution. Here we will outline some of the key choices, some obvious, some less obvious, on ways you and your small business can save money.
Whether you have a set of shiny new wheels or a decaying rust bucket, cheap car insurance is a must for staying legal on the road. The good news? You have more control over factors that influence your auto insurance rates than those that affect other types of coverage, such as life insurance or home insurance.
The No. 1 key to finding affordable car insurance is to find and compare cheap car insurance quotes in your area, which you can do by entering your ZIP code below:
Once a month (or so), I share a dozen things that have inspired me to greater personal, professional, and financial success in my life. I hope they bring similar success to your life.
1. Colin Grant on being the son of a difficult father
From the description: Colin Grant has spent a lifetime navigating the emotional landscape between his father’s world and his own. Born in England to Jamaican parents, Grant draws on stories of shared experience within his immigrant community — and reflects on how he found forgiveness for a father who rejected him.
For starters, I love hearing the stories of people with lives that have been much different than my own. While I can hear a few echoes of similarity in Colin’s story, most of it is on completely different ground than what I’m familiar with and I find that fascinating. It’s a window into another world of human experience.
Dear Readers of The Simple Dollar,
I’m writing to you today to inform you of some improved changes that you’ll see coming to the site very soon. I ask that you please take a few minutes to read this to ensure that you get the most value from our site in the future.
Here’s a brief overview of what I’ll be covering:
New Contributors And More Content
As many of you know, The Simple Dollar was started by Trent Hamm. Since 2006, Trent has shared his story, advice, and other wisdom with you. As the founder and main contributor, Trent continues to be a big part of The Simple Dollar today by writing 6 posts each week. Trent will also continue answering your questions every week in the Reader Mailbag.
A couple of days ago, I posted a list of fifteen items I don’t skimp on. That list mostly consisted of extremely heavy use items and maintenance of my health and my most expensive purchases (homes and automobiles).
So, what do I skimp on? In truth, I skimp on a lot of things… but they’re mostly things that don’t seem to affect my quality of life when I spend less on them. This article lists fifteen of those things.
A few caveats:
This list doesn’t include stuff that I just don’t buy. I don’t spend my money on most junk food options. I don’t buy a lot of hobby supplies, either, outside of the occasional board game or book. This list focuses on things that I do buy regularly, but where I seek out the lowest possible price.
You know those moments that happen in life where you wish you had the right words at that moment, but instead they come to you days later? I’m about to tell you about one of those times.
An old friend of mine – we’ll call him Jeffrey – has struggled throughout his adulthood with, well, many aspects of adult life. He’s struggled with maintaining a steady job. He’s struggled with alcohol dependence and substance abuse. He’s struggled with parenthood, too.
He has an older sibling – we’ll call him Will – that has done reasonably well with his life. This older sibling has a challenging but well-paying job and two children that are on solid professional tracks.
Whenever Jeffrey is feeling down on his luck, he’ll often go on a drinking binge and find someplace to hide out for a while. If you try to talk to him, you’ll hear the same few refrains over and over.
“Will gets all of the breaks in life. He gets all of the luck and I get nothing.”
Frugality is a major part of our financial independence strategy. Since we live on only one income and save the other one, we have to be quite careful with our spending.
As I’ve mentioned many times, my perspective on frugality is to spend as little as possible on things that aren’t as important to us so that we can spend adequately on things that are important to us.
Still, there are a number of things that I simply don’t skimp on. Buying the “dirt cheap” version of these things seems to cause more problems in my life than the savings will ever be worth, so instead I either choose to buy these items “for life” (meaning I shoot for highly reliable versions of the item) or I buy the best “bang for the buck” version I can find (relying on recommendations from trusted sources like Consumer Reports).
This is by no means an exhaustive list, but it does provide a great example of some items that I don’t skimp on.
What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question.
1. Buying cheap or for life
2. Best financial decision?
3. Grocery store ethics
4. Stuck in a tough spot
5. Taxes and early retirement
6. Being “rich”
7. Organizational credit card
8. Trusting the bank
9. Buy it for life: skillet
We’ve all faced it at some point in our life.
Your next paycheck isn’t due to arrive for a week or so. You don’t have much in your checking account and there’s not too much in the cupboards, either. You need to put food on the table for the next week but you have only a tiny amount of money.
What do you do?
In this situation, many of the usual strategies don’t work. Grow a garden? Useless; you don’t have three months to wait for food to grow. Buy in bulk? How exactly are you going to do that with an extremely limited budget?
I’ve been in this situation a few times, particularly during my college years, but even a couple of times later on. It’s hard, especially when you have family members relying on you, particularly children.
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