Good Investments You Can Make in Your Home

One important lesson that you can learn from working so much with finances is that you have the ability to make good investments in all areas of your life. Nothing is too insignificant to make a difference. By paying attention to the little parts of your life where you can spend your money wisely, it will add up to a lot of savings in the long run. We will be talking about a few different ways where people can change what they have been doing, and invest their money that will be better for them overall.

Buying a House

Let’s start with the big one. For years, people have been debating over whether it makes more financial sense to buy or rent a house. Many calculations have been done to prove that the decision sways one way over the other. Overall, the answer to this question depends on how long you are interested in the idea. If it is a spur of the moment plan that you have not thought through, you will probably not be better off buying a house. You have to be prepared to hold onto your house and wait until it appreciates to a high enough value to make a profit for yourself. If you sell it as soon as you get bored, you will probably end up losing money on the transaction.

Mattresses

The next area that can be invested in is the items in your home that you will be using frequently. Mattresses are a good example of this because you use them every night that you sleep in your house. If you put your money into a good mattress, it will pay off in the end! Good quality mattresses can be tricky to find but stick with it once you do. It will provide you better sleep than regular mattresses, and so you will have more energy to get through your day. This means that you will have extra productivity in all aspects of your life. Futon mattresses are another concept that people have been embracing recently. They like the idea of combining a futon with a pull-out mattress, so you can save money on having an entire guest bedroom.

Bathrooms and Kitchens

If you have owned your home for a long time, you may decide to put it up for sale. This could be for whatever reason, but hopefully, you have done your research and know where the housing market is at that time. The best thing to do before you put your house up for sale is re-vamp certain areas. Bathrooms and kitchens are the areas that potential buyers pay the most attention to. If these two spaces are done nicely, you will get more money for the whole house. If you have a bit of money stored away, it will probably be worth your while to renovate the kitchen and bathrooms. Be careful about who you hire though because not everyone is going to do work that is up to code. If you have the work done wrong, it will not make any difference to the value of your home, and your savings will still be gone on the renovation.

Roofs

A leaky roof can be detrimental to the rest of your house. One major rainstorm and you could end up having thousands of dollars in damage. Having a new roof done on your house is an investment because it will save you money in the long run. It will cost a lot for you upfront, but you will thank yourself later. Doing maintenance and preventive repairs are always considered an investment for your home.

Conclusion

When people think of investments, they typically picture banks and savings accounts. However, you can get involved in good investments in your very own home! This will be beneficial for you in the long run, and you will end up having more money for yourself as a result. Buying a house (and holding onto it), purchasing a good quality mattress, renovating the kitchen and bathrooms, and performing maintenance on your house are all examples of good investments. You are putting forward a bit of money for a big return!

Investing in Stocks With Little Money: You Can Do It!

investing in stocks with little money
Investing is something that has always interested me. From the time I was three years old I watched the stock market go up and down with my grandfather on television, over the phone and eventually on the internet. Watching your money work for you: what could be better than that?

Of course, investing is never a sure thing. In fact, most of my college savings were dried up in the small stock market crash in the 2000s. There are ways you can start investing in stocks with little money (and minimal risk).

Investing in Stocks With Little Money 

Before you think you have to have a ton of money to invest, think again. You can invest with as little as $20. Once you have some emergency savings put away and all of your high-interest debt paid off, you should think about investing, even if it is just a little bit. Here’s how:

How to Invest $20  

If you’re thinking that investing $20 is a waste of money, it’s not. If after you’ve paid off your debt, have money saved and paid your bills you only have $20 left over the best possible thing you could do with it is invest. Thousands of major corporations offer DRIPs Dividend Reinvestment Plans, which allow you to make an initial invest as little as $20 or $30. Making this small investment now could lead to big returns in the future.

How to Invest $100 

What if you have a bit more than $20 but not quite $1000? Well, if there’s a way to invest $20, there are always ways to invest $100 to $999 as well. One of the best ways to invest a couple hundred is an index fund. Some index funds (if they track the S&P 500 index) can lead to a 10% return each year! Your $100 could be making you hundreds in no time.

How to Invest $1000 

Have an extra $1000 or more to invest? You have a ton of options! The most obvious option is to open a discount brokerage account. If you are able to contribute to the account regularly, you’ll be able to stack up a sizable amount of cash. Keep in mind, however, that the more valuable your account is, the more fees you’ll encounter. Invest in a way that minimizes your fees.


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Other Investments You Can Make With Little Money 

You don’t necessarily need to turn to the stock market to invest your money either. There are other ways to invest with smaller amounts of money. If I was looking to invest a smaller amount of money, here’s where I would start:

  • Savings – Start a new high-yield savings account. If you’re able to find a bank account or credit union with higher interest on their savings account, apply and open one. Some of these accounts will require a higher opening account balance but most simply require $25. It is a great way to start earning interest on your cash.
  • 401K/IRA – Does your employer have a 401K? If so, have you thought about opening a 401K for yourself? Beginning investments for 401Ks are usually pretty low and you contribute out of every paycheck or as you see fit. It is a great way to prepare for retirement, invest and save all in one. Not all employers have this, however, so if you’d still like to invest in a similar platform, ask your financial advisor about ROTH IRAs. You will need more money to invest in an IRA but it will definitely pay off in the long run.
  • Acorns – Last but not least, Acorns is an app I discovered about two years ago. It allows you to invest your spare change. Similar to bank programs like “Keep the Change,” Acorns rounds your transaction up to the nearest dollar and invests your change in a diversified portfolio. The best part about Acorns is that you can tailor it to your personal needs. So, if you want to put in a recurring deposit, you can. If you want to only invest change, you can. If you’d prefer a more aggressive approach to a less risky investing style, you can tailor that as well.

Whatever you do, don’t avoid investing because you don’t have enough money. Your $20 or $30 could be making you even more cash right now so don’t wait!

Photo: Dividend Magic

5 Budgeting Mistakes that Could Sink You

calculator-428294_640Today we have a guest post for you from Jeanne at Everything Finance.

Everyone starts learning about money from a young age. Perhaps you ask your father for money to buy a piece of gum at the store. He hands over some change, you pay the cashier, and she gives you the bubblegum.

When we are older, our wants and needs grow larger than a simple piece of bubblegum, however, and they cost more too. In order to pay the bills we must get jobs and learn how to budget.

But the fact is that some of us are more diligent about budgeting than others. In addition, even when you are a religious budgeter, there are still 5 budgeting mistakes that could sink you.

1. Lack of Accuracy

As you create your very first budget you may have trouble deciding what categories you need and how much they should be. If you use the wrong figures it is one of the budgeting mistakes that could sink you.

In the last few months if you have been making rent payments, buying groceries, and paying other bills you are already part of the way toward creating an accurate budget. Take the last three or four months of spending for each area and average them.

Or, if you are just moving out of your parent’s house and into your own place, use your bills for the next couple of months to get an average for each category. Once you know these figures you should be able to set up a budget.

2. Being Too Strict

It’s easy to say you are going to stick to your budget no matter what. If your budget is too strict, though, you may be guaranteeing your own failure. That is another one of the budgeting mistakes that could sink you.

Life is short not to get some enjoyment out of it. Restricting yourself in such a way that you suck all of the fun out of life makes you wonder what the point is. In addition, you may be more likely to blow your budget.

An occasional indulgence is ok as long as you plan for it. Make sure you give your budget a little wiggle room so you can stay on track with your spending each month.

3. Spending Without Tracking

Spending with no thought or tracking is just the opposite of being too strict. If you are doing this then a budget isn’t helping you.

You must track what you have spent in order to know when you will be out of money. You can do this with budgeting software, paper and a pen, or a simple spreadsheet on a computer. After you begin tracking your spending you will be on your way to budgeting.

4. Forgetting to Add Items

Sometimes people simply forget items in their budgets. Common items that get missed are things like yearly taxes, haircuts, doctor bills, and gifts among others.

Not planning for these expenses is another one of the many budgeting mistakes that could sink you financially. Once you identify these items and their frequency, divide the cost per year by twelve and add them to your monthly budget.

5. Lack of Communication

If you aren’t communicating well with your spouse or partner your budget could be headed for trouble.  Each person in the relationship must have their basic needs provided for along with some wants. To reach this goal you must be clear about these items and their costs.

The consequences of not talking about money and budgeting when it is needed could cause overspending and resentment at the least. Conversely, by working on your budget together you can avoid overspending.

Managing money is a learned skill that is not always clear-cut or easy. But as you can see there are ways of avoiding these budgeting mistakes that could sink you.

What are some of the budgeting mistakes you have made in the past?

Jeanne is a married mother of 2 grown children who works a full time job, has two side hustles, and also helps out occasionally on the farm she and her husband own together. Her background is finance and medical office management, and she hopes to help others improve their finances and change their futures.

Kendrick Lamar’s Net Worth

Kendrick Lamar's net worth
I am an avid Kendrick Lamar fan (always have been) but his latest album “DAMN.” didn’t appeal to me right away. It had to grow on me. But, now that it has it is one of the albums I have it a shuffler on Amazon Music in the mornings. I love it!

Like many others who have listened to the album, one of my favorite songs is “HUMBLE.” However, many people bashed him on social media after he bought his sister a 2017 Toyota Camry for her high school graduation. Although fans loved the idea of “HUMBLE.” they thought Lamar should have bought her a more expensive vehicle. It got me thinking though, how humble is he? What is Kendrick Lamar’s net worth?

About Kendrick Lamar

Kendrick Lamar is an American songwriter and rapper who was born and raised in Compton, California. From birth it almost seemed like destiny placed Lamar in the world of music. His mother even named him after Eddie Kendricks of the Temptations. At the age of eight, he saw his biggest idols (Tupac and Dr. Dre) film the music video for “California Love” in his very own neighborhood.

Lamar didn’t have it easy growing up though. He was raised in section 8 housing and his family was on welfare his entire life but he never let his environment bring him down. In fact, Lamar was a straight-A student in high school.

Kendrick Lamar’s Career

He was still in high school when he released his first full-length project. At the time he released the mixtape (“Youngest Head Nigga in Charge (Hub City Threat: Minor of the Year)”) Lamar was rapping under the pseudonym K-Dot. This mixtape led to Lamar signing his very first recording contract with Top Dawg Entertainment. He began recording with the record label and put out a second mixtape (“Training Day”) two years later.

Under the name K-Dot, Lamar rapped alongside big names, like The Game, Jay Rock and Ya Boy, and went on to release his third mixtape (“C4”) under that name. However, in 2009 Lamar decided he wanted to drop K-Dot and be referred to by his legal name on stage. He then released “The Kendrick Lamar EP” in late 2009 to reestablish his brand with the music industry.

Lamar continued on as an independent artist for three more years before signing a deal with Interscope Records and Aftermath Entertainment. He released his debut single under the new deal (“Swimming Pools (Drank)”) in July 2012. His first major label album, “good kid, m.A.A.d city,” featured that song. The album was released in October of that year and sold 242,100 in the first week being on the shelves.

Since then he’s released numerous albums, including “To Pimp a Butterfly” and “DAMN.” Lamar has won 40 awards in total, including seven Grammy Awards and several civic honors. He’s been praised for remaining humble while rising to fame and never forgetting where he came from. So, what is Kendrick Lamar’s net worth?

Kendrick Lamar’s Net Worth

Kendrick Lamar's net worthCelebrity Net Worth estimates Kendrick Lamar’s net worth to be around $18 million. A bulk of his cash is earned through his concerts, ticket and album sales. In fact, almost all of his cash is earned that way.

What’s interesting about Kendrick Lamar is that he has a lot of hesitation when it comes to endorsing products (even if it’ll line his wallet). He did partner with Rebok in 2014, which provided some income but Lamar hasn’t heavily endorsed anything.So, for now, this means that Lamar’s earnings are easily measurable and, once he’s not producing music anymore, he may have a hard time generating income.

For now, however, Lamar is no where near running through his $18 million. While that is a lot of wealth, Lamar hasn’t been frivolously spending his earnings away either. Heavy reported that Lamar’s house cost him less than $600K and he doesn’t buy many flashy/fancy items. Lamar donates a lot of what he earns and, yes, remains humble.

Have someone you’d like us to cover? Let us know. 


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Photos: GQ and Pinterest