Search Results for: ignore-your-budget/573/brown-bagging-your-way-to-savings/budget-lesson-part-2/medical-costs-and-choices/budget-lesson-part-3/subscribe-by-email/how-to-complain-the-squeaky-wheel-gets-the-grease

The Do-Over

This post is from Kevin @ DebtEye.com.  Kevin is a co-founder @ DebtEye.com, where he helps consumers manages their finances and find the optimal way to get out of debt. .  This is guest post is part of a blog swap for the Yakezie, answering the question “If you had one financial do-over, what would it be and why?”.

I usually look on the brighter side of things.  There’s never an incident where I wish I could go back in time and change things.  Everyone will eventually make mistakes, but it’s up to them to learn from these mistakes and make sure it never happens again.  However, if there was one moment in the past I could change, It would be not buying a house straight out of college.

Throughout my college days, I have been fortunate to have saved up enough money for a down-payment on a house.   That’s not enough to maintain debt-free living. I worked with several internet gaming companies and acted as an affiliate for them.  I saved up around $25,000 and decided to buy a condo with my brother.

I thought it would be cool to own a condo in the city.  I was really looking forward to turning this new place in a bachelor’s pad.  This was probably the worst decision I’ve made.  I always believed that it was better to buy a property instead of renting one, since some of the payment would go towards paying down the loan.  Of course, I realized that this wasn’t the smartest of ideas.

Here are some reasons why I regret it:

  1. Property Taxes:  Property taxes in Chicago are one the highest in the nation.  For a $320,000 property, annual real estate taxes were roughly about $5,800/year.  Property taxes usually go up every year, it can be difficult for some people to maintain these payments.
  2. Valuation:  Thankfully, the property only decreased 10% in the past 2 years.  It’s not as bad as some areas, but the timing to buy a property was poor.
  3. Cost:  Buying a property involves more money to spruce up the place.  New paint, new appliances, new floors, etc.  Most of us won’t get a free appliance from the government.  Many homeowners have to put in extra care of the property, so when they sell it, it’s still in great condition.

Looking hindsight, I definitely wish I rented instead of owning a home.  In this day of age, I think most people can make the clear argument that renting is worthwhile to look into.

Enhanced by Zemanta

Sunday Roundup

Eye of horse.
Image via Wikipedia

My girls have been riding in horse shows lately.  Sometimes, it seems like that’s all we’ve been doing on the weekends, but they love it.  My wife’s favorite hobby now matches my daughters’ favorite pastime.   As a bonus, we’ll never have to paint their room again, with the way they are accumulating ribbons.

Best Posts

It is possible to be entirely too connected.

My life is now complete.  It’s possible to buy 95 pounds of cereal marshmallows for just $399.   Breakfast at my house just got perfect.

I wholeheartedly agree with Tam, “You don’t need to make any excuses for crashing things into each other at the speed of light in an underground tunnel longer than Manhattan that’s had the air pumped out and been chilled to a couple degrees above absolute zero. That doesn’t need a reason. “

Carnivals I’ve Rocked 

Credit Cards: My Failed Experiment was included in the Best of Money Carnival, the  Carnival of Wealth, and the Totally Money Blog Carnival.

My niche site article on how to Make Extra Money with Keyword Research was included in the Totally Money Blog Carnival.

Thank you! If I missed anyone, please let me know.

Enhanced by Zemanta

4 Ways to Change Your Life for the Better

Everybody has bad days.   Everybody has horrible days.   That doesn’t matter.   The important thing is how you feel about your life as a whole.   What can you do to make your life more worth living?

1.  Get out of debt.   When you’ve got no debt to pay, you have more options and less risk.   If you’re paying $1500 just to service your debt, it will be $1500 harder if you lose your job.   If you’ve got no debt payments to make, the impact of losing an income stream is far less.    On top of that, you’ll have that much more money to do the things you love every month.

2.  Find something you love to do…and do it.    Everybody has to do things they hate.  For some, it’s cleaning up the cat’s litter box, for others, they die inside a little each time they punch a time clock.   Life isn’t all puppy dogs and ice cream, but it’s important to have a little ice cream in your life.  What do you love doing?   Is there anything you love that you can start doing?  Start a business, write a book, volunteer for a charity that matches your values, or grow the world’s largest pumpkin.  Whatever it is, it’s time to get started.

3.  Eliminate the things you hate.    Life’s too short to live with the things you hate.   If something is destroying the value of your life, get rid of it.   Now, I’m not suggesting you off your mother-in-law, but it may be worth ignoring the phone when her number shows up on the caller ID and skipping Sunday dinner with her.   If you hate your job, find another.   If you can’t find a way to eliminate what you hate, embrace it and learn to love it, or you will eventually hate more of your life than just the bit driving you crazy.

4.  Let the ones you love know you do.   Do your children know you love them?  Does your spouse?  Are you sure?   If a meteor fell on your head today, would your kids spend the rest of their lives wondering how you felt?   If your wife were in a car accident today, would there be anything you wish you would have said?   Now, today, this morning, this second is the right time to let your loved ones know you care.  Don’t wait.   If you haven’t made it a habit, it may feel awkward.   Get over it.  Your wife and kids will love you more knowing beyond doubt that you love them.    A tight bond with your family can’t be bought, it can’t be bribed, and it can’t be faked.  It is worth everything.

What’s one thing you could do today to make your life better?

Enhanced by Zemanta