Minimum wage, baseball, hotel fees, doing it all wrong and more
Investment Zen — Hazel presents an infographic that lays out a 10-step plan for successfully existing on a minimum wage. She does admit this won’t work for everyone, especially if you have circumstances that cost extra money, like taking care of an elderly family member.
Her first step is moving to an affordable location. She believes too many people make excuses for moving. She says “you can’t live in an expensive city and be wealthy.” She provides 10 cheap cities where the average rent is below $600 a month. Check out her post and then read this post about The State of the Pay Gap.
Mustard Seed Money — This blogger loves baseball. He even admits that opening day is “one of his favorite days of the year.” Now he’s combining his favorite sport with another favorite pastime, finances. I like the fourth commonality he finds between baseball and finances: “Practice Makes Perfect.”
In baseball, the best players “hone their craft” through vigorous workouts. He asks us, “how often do you put effort into your finances?” Most financial experts believe we should set aside time each week to concentrate on our finances. Do you put in the extra effort?
Money Talks News — Pesky hotel fees can dramatically increase your hotel bill. Marilyn says “fees in the hospitality industry have been multiplying like rabbits in spring.” Fees include: resort fees, early check-in fees and many more. The first tip seems obvious but people don’t do it: “Read the fine print.”
She says ask the front desk representative for a list of the fees. They should have them handy or at the very least, have them on their website. Try the fifth one too: avoid hotels that charge fees. She says some booking sites like Getaroom.com disclose booking fees. Check out this post about hotel booking.
She Picks Up Pennies — Someone left Penny this comment: “You’re doing it all wrong.” And it rubbed her wrong because it not only dismissed her, it also didn’t give any further commentary. She believes criticism like that is not constructive, especially when discussing finances.
She says we all make money mistakes, but we don’t get everything wrong. She also provides four strategies “for shaking off a money mistake.” I like the third: “Tap a weakness.” She once owned over 200 shoes but dramatically cut that expense. Find your weakness and confront it.
Funding Happy — So true. Caren also states that once we purchase something it’s our responsibility to care for it and fix it, if it breaks. In other words, all the expenses associated with the possession become our expenses. She once bought things “on autopilot” without thinking about the consequences.
Now she realizes that her “consumptive habits” were damaging her finances. And as she changed her habits, she feels more free. Free from “the weight of carrying everything I consume.” Howard Dvorkin, chairman and founder of Debt.com, covers this subject in his book Power Up.
Article last modified on May 23, 2017. Published by Debt.com, LLC .