Tag Archives: money

Dec18

Car Loans VS Dealership Financing: Which Is Better For You?

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Car Loans VS Dealership Financing: Which Is Better For You?

You usually have two roads to travel down when you want to buy a car:

  • Buy it outright with your own money
  • Seek some sort of financing option

Most people can’t use 100% of their money to buy a car so they go down the financing route, though this also throws a fork in the road:

  • Buy your car using an auto loan
  • Buy your car with dealership financing

Both are very viable options, but which one is better from a personal finance standpoint? Let’s take a closer look at them and see how they compare:

Car Loans Explained:

A car loan is one of the most straightforward auto financing options available. You approach a lender, apply for a loan, and receive enough money to cover the full cost of your purchase. Deposits/down payments are required – and this is usually a secured loan, meaning the car itself is collateral. In essence, if you fail to repay the loan, the lender can repossess your vehicle.

A very simple idea that comes with some massive benefits:

  • You own 100% of the car straight away
  • Car loans tend to come with lower interest rates, making them less costly
  • You gain the flexibility to buy your car from any dealership or brand

There are only a couple of downsides to a car loan, particularly when compared with regular dealership financing. It normally requires more effort to find a suitable lender and apply for your loan – and lenders are strict when it comes to accepting applications. Still, if you’ve got a great credit history, then there’s no need to worry about approval.

Dealership Financing Explained:

With dealership financing, you normally approach a car dealer and buy a vehicle from them, using their financing product. You pay a deposit, and then the dealer charges monthly payments based on the vehicle’s value and how much you already paid. The interesting thing here is that you’re normally locked into a 1-4 year deal. When your term ends, you either pay a balloon payment to own the car or take out a new deal on a new vehicle.

Dealership financing is popular for a couple of key reasons:

  • It’s fast and easy to set up
  • You normally get better deals than buying a car outright with a loan
  • It’s easily accessible
  • You can cycle through brand-new cars every few years

However, the main downside is that you do not own your car. The dealer will retain a majority share of your vehicle unless you pay the balloon payment at the end. This means you lack any flexibility when it comes to modifying your vehicle – and you’re also often forced to go to specific garages for servicing.

Which Is The Better Option Financially?

Speaking from a strictly financial standpoint, car loans are the better choice. You have lower interest rates, gain ownership of the vehicle right away, and have a longer term to split your repayments, making them more manageable. Truthfully, dealership financing only makes sense if you like cars and want to buy a new one every few years.

If you’re on the market for a new car, explore your financial options carefully and don’t rush into a decision you’re not fully comfortable with!

Featured Image By: Unsplash

Dec11

Can You Truly Be Prepared For A Financial Emergency?

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Can You Truly Be Prepared For A Financial Emergency?

Financial emergencies can strike any of us at any time. Whether it’s due to a personal injury, an incident on the road, or a sudden major household cost we can find ourselves scrambling to get our finances in order and to avoid falling into debt any more than we need to. Today we’re going to look at some of the preparations you can put in place to make sure that you’re better able to handle those emergency costs when they do arise:

Build An Emergency Fund:

The best way to prepare for an emergency is to make sure that you have some safeguards in place well in advance. First and foremost, put together a savings goal to establish an emergency fund. These should typically cover three to six months of essential expenses, including housing costs, groceries, transport, and other non-negotiables. That way, you can make sure that you have enough of a cushion to get through crises that are as major as even a job loss.

Buy The Insurance That You Need:

Insurance is often overlooked until a crisis hits, but having the right policies in place can prevent emergencies from becoming financial disasters. Make sure that you’re investing in the essential coverage, such as home or renters’ insurance, health insurance, and car insurance (that covers as much as you need), and consider additional coverage, such as income protection to ensure you’re protected even if you’re put out of work for a while. Keep an eye on your policies, checking them yearly to make sure they cover the most probable issues you might face.

Know When You Need A Lawyer:

Sometimes, a financial emergency may stem from an event that wasn’t your fault or responsibility. Whether it’s an injury at work or a car accident, having the number of a reputable lawyer can make a big difference. With a personal injury lawyer, for instance, you can make sure that the person responsible for your injury is also made responsible for your medical bills, as well as any money that you might lose as a result of being put out of work. A good lawyer can help you understand your rights, avoid costly mistakes, and navigate insurance claims more effectively, too.

Keep Your Credit In Good Shape:

While you typically want to avoid having to borrow in order to deal with sudden expenses, sometimes you might have no other readily available option. Keeping your credit score high can offer a significant advantage, allowing you to utilize loans or credit cards with good interest rates, instead of having to rely on more unreliable sources of funding, like payday loans or secured loans that could lead to much worse financial outcomes and higher interest payments.

Emergency situations are an unfortunate part of life and the best thing you can do is be prepared to face them!

Featured Image By: Pexels

Aug7

Side Hustles You Can Start ASAP

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Side Hustles You Can Start ASAP

Howdy! Literally everything is SO expensive now and it often feels like you’re breaking the bank as soon as you leave the house. For this reason, the side hustle culture has been thriving. You might think side hustles are limited to creative based endeavors like crafting, a stand at the farmers market, or teaching music lessons on the side. This is great for the people who can do so and it’s amazing to support the local makers in your community. However, if you don’t have a talent that is monetization worthy, you might not know where to start. Let’s take a look at some side hustles that you can begin ASAP with no artistic strings attached:

Dog Walking:

If you love pets and you have some free time on your hands, dog walking could be the perfect side hustle for you. As a member of several Talk Of The Town groups on Facebook, I am always amazed by how many people are interested in this service when someone offers it in a post. It makes a lot of sense, though. A senior member of the community might not be able to walk their dog safely in the winter. Families with children might not have the extra time to walk their pup in the morning when school is back in session. Whatever the reason may be, it will not be as hard as you think to get a couple of clients quickly. From there, it could blossom into house and pet sitting too as the natural next step.

Housekeeping:

If you are a member of Talk Of The Town pages too, you will certainly have seen posts about housekeeping services. You don’t need to have experience with a professional housekeeping service to have a passion for a good, deep clean and if you have the skills to achieve it – why not give it a shot? Like dog walking, housekeeping is a task that families with children or senior citizens are typically seeking. You will have the satisfaction of cleaning to a shine as well as the fact that you are really helping someone who might not be capable of doing it themselves. Total win/win!

Tutoring:

With the first day of school looming just around the corner, the posts looking for tutors for the school year have been flooding my newsfeed. If you are a fresh out of college kid with a degree to flaunt, this could be an amazing way to make some extra cash as you seek out employment options. Tutoring could also be a great gig for retired teachers, teacher’s assistants, those who speak more than one language, or have a wealth of knowledge for the subject at hand. Having a tutoring job for an entire school year will not only be lucrative but really cool. You will be helping your student earn better grades and improve their learning skills which they will have for life.

DoorDash/Uber:

I know countless people who DoorDash on the side and I have heard nothing but good things about their experience. The key points they always mention are the same: 1) It’s easy. 2) They can do it whenever they want. And 3) The money is pretty good. If you have a car and are a safe driver, it can’t hurt to try a few DoorDash or Uber shifts. I, personally, would not be a good DoorDash driver because I would want to eat everything lol. However, if you have more self control than I, this could be an awesome side hustle when you have a couple of extra hours to spare.

Honestly, it sucks living in a world where a forty hour work week isn’t enough to get you by. The side hustles above could be a really good thing should you need a little extra cushion!

Do you have a side hustle? What do you do? I want to hear from all of you, so leave me a comment and let’s chat! Much love. -Sarah

Jun9

Sweet Surprises: Random Money Edition

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Sweet Surprises: Random Money Edition

Hello!! This past week, I had a little moment on my break at work that simply tickled me and I just had to share it with all of you. I don’t know about you, but every once in a while I will see a post on Facebook about someone finding random money on their person. Unfortunately, I can’t relate because I am one of those people that rarely carry cash… Primarily because I want to spend it immediately! However, that statement is no longer true because that is what happened during my break time surprise and, I’ve got to say, it was just as delightful as I imagined it being.

After finishing up some work on the computer, I still had a bit of time to kill. So, I started reading a new book called The Missing Half by Ashley Flowers (Peep the Book Club review soon!). As I was reading, I reached in my purse for anything that could be used as a bookmark and pulled out the first thing that felt like paper. As per ushe, I was expecting a receipt that I didn’t need but wasn’t going to leave my purse until cleaning it out. Rather, it was a small envelope. You can only imagine my surprise when I opened it to discover it was Christmas cash from last year from my parents. I must have stuck it in my purse with the intention of spending it, it got lost in the black hole that is my handbag, and I straight up forgot about it.

When I made this discovery, it seriously felt like getting a hug from my mom and dad. Yes, the cashola was nice but it was even better to have a Christmas surprise in June! I immediately called my mom to announce my findings and what I thought would be a short call turned into a ten minute gab fest and that was the cherry on top. I was already having a great day but this made it an excellent one and it really is the little things in life that make it so much sweeter. ❤

Like I said, as soon as I have cash – I want to spend it! I used it to buy more leafy greens for the bunnies, a couple of dinner options for me and Johnny, and some super yummy dill pickle trail mix too. Dinner and snack time for us and the bunnies were proudly sponsored by mom and dad. I just love them!!! :*)

What is a little thing that made you happy recently? Have you found random money before? I want to hear from all of you, so leave me a comment and let’s chat! Much love. -Sarah

May7

A Car Repair Cautionary Tale

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A Car Repair Cautionary Tale

Hello!! My car, AKA the Little Red Love Machine, is my little pride and joy. She is basically me in car form and I worked very hard to be able to buy my dream car. It is so important to me to make sure she is running in the best, safest way possible and I always stay up to date on regular maintenance. I began going to a shop down the street from me for oil changes and have had a positive experience every time. Except for the last time…

After my last oil change, I was informed that my car needed some extra work and that the price was going to be steep – the bare minimum being around $1340. YIKES! Right away, my feelers went up because what they were recommending was something that I had gotten done before and for way cheaper. Rather than commit to anything right away, I called another repair shop I go to on occasion and got a quote from them. The price just on the phone? $960. That was much more like it! Better yet, when I took my car to get fixed, the true price when they called me was $820. That was even more like it and over five hundred dollars less than the original quote!

While I was doing the happy dance for a repair that was even less than anticipated, I was a bit peeved. Did the people at the first repair shop think I was stupid or something? In fact, after they high balled me, I got a text from one of the team members saying I could get a free oil change if I wrote a review and I’m pretty sure they knew I had their number lol. (And, no: I did not write the review as temping as a free oil change is!)

This is why I decided to share my cautionary tale. If you are getting a major repair on anything done and the price seems way too high, get a second quote from a different source. Hell, get a few! If the prices are similar across the board, then that’s okay. However, you might find yourself in a situation similar to mine and will be so glad that you called around. This might seem like a no brainer but it is definitely worth the reminder so that you can continue to get the most bang for your buck and find professionals that are trustworthy. You couldn’t pay me to go to the original shop I went to again!

I am pleased to report that the Little Red Love Machine is back in excellent condition and my savings speak for themselves. You can’t beat that!

Do you have a story similar to mine? How much money did you end up saving by getting additional quotes? I want to hear from all of you, so leave me a comment and let’s chat! Much love. -Sarah

Oct11

That’s So Fetch

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That’s So Fetch

Hello!!! I used to be an avid user of the site InboxDollars and haven’t been on it in weeks. InboxDollars is a survey taking website to earn money for gift cards and I used to get Amazon cash pretty frequently with their paid emails. Then, they did away with them and I haven’t visited the page since. Luckily, my bestie introduced me to her favorite gift card app called Fetch when we were at dinner last week. I have been using it every day since and I am obsessed!

Fetch is really neat because literally all you have to do is take a picture of receipts from purchases and you earn points for gift cards. The receipts can be any price and from anywhere. In fact, I just submitted a receipt that was barely over a dollar from McDonald’s lol. You guys know I love a crispy Diet Coke! Fetch is a handy little app and I thought I would share it with all of you. Why not get something back from the items or services you are buying anyways?! I am already a fifth of the way there to a ten dollar Amazon gift card – it’s that quick and easy.

Below is my referral code so we can both earn points when you create your own Fetch account. Here’s to free money!

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Have you used gift card apps or websites before? Which one is your favorite? I want to hear from all of you, so leave me a comment and let’s chat! Much love. -Sarah

Jun23

Money Is Tight: Tips To Help Pay Your Rent

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Money Is Tight: Tips To Help Pay Your Rent

As the cost of living rises across the globe, many people are wondering how they’ll manage to continue to pay for everything. Food, gas, energy, and rent have been steadily increasing for the past twelve months. If you’re struggling to pay your rent on time, you’re not alone. Rather than burying your head in the sand, now is the time to sit down and make arrangements with your finances. Being in total control of your income and spending will put you in the best position for paying your rent. Take a look at these tips:

Consider a Roommate:

If you’re renting a property and have a room to spare, you may want to consider advertising for a roommate. Sharing your property is one of the easiest ways to significantly reduce the amount of rent you have to pay. It’s important to check with your landlord before making any decisions. If your landlord agrees, ask family and friends before making a public advertisement. Someone you know and trust will often make the best roommate. However, it’s essential that you do all of the appropriate checks before accepting any applicant.

Reduce Your Spending:

Look at where you’re spending your money each month. If you’re buying coffee every morning, paying for subscriptions you barely use, or splashing on takeaways, it could be time to change your habits. By reducing your spending, you may be able to find the extra money you need to cover your rent costs without needing to worry further. There may also be ways of lowering other bills. For example, using less energy at home or negotiating lower payments with debtors. You’d also be amazed by the deals you can get by telling your internet provider that you are considering switching!

Consider Mobile Homes:

More and more people are starting to consider mobile homes instead of other properties. There are many benefits to living in mobile homes, including reduced rent payments and a higher chance of being able to purchase a mobile home. For example, Mobile Homes Direct 4 Less guarantees to beat the price of their competitors in the same area. It can be a great starting point for anyone who is looking for their first home and wants to build up proof of rent payments on time. Mobile homes can prove to be a great option, but the removal of them can be tricky if you are ready for an upgrade. If you have reached the point of moving out, consider doing a search for “mobile home transport in Alberta” (or your local area) to find the most efficient option for you.

Take On A Side Hustle:

It’s important to rest and stay healthy, but if you’ve got a few hours to spare each day, you could top up your income enough to make all of your payments. For instance, you could make deliveries for a local takeaway or care for someone elderly who needs assistance with meals and medication. Another alternative is to try your hand at freelancing. If you’re a talented writer, graphic designer, or you have experience in customer service, you could find opportunities that allow you to work from home in your spare time.

These tips are not a cure all, but they can be helpful to boost your wallet even a little bit!

Featured Image By: Pixabay

Jun17

Aldi’s Haul Success: Pickle De Gallo

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Aldi’s Haul Success: Pickle De Gallo

Hello!!! For the past several years, Johnny and I have done our grocery shopping at the Giant Eagle. The convenience of curbside and the fact that it is barely five minutes away from us was hard to beat. However, the prices at GE were simply getting out of hand and the amount we were spending to keep us fed and watered was ridiculous. So, we decided to make a change by shopping at Aldi’s and getting what we couldn’t find there at the GE.

We had our first Aldi’s trip together earlier this week and it was nothing short of a remarkably GREAT SUCCESS. Outside of about six things that weren’t available, we found everything we needed and paid over one hundred dollars less for it. The nearest Aldi’s to us is about twenty minutes away but, needless to say, it was well worth the trip!

I haven’t gone “real” grocery shopping in so long because I freaking LOVE online shopping with curbside. However, I always enjoyed a trip to the grocery store and going to Aldi’s with Johnny was a blast. There were SO many new to us options and we filled our cart with can’t say no finds. One of which being, pickle de gallo. I had seen people posting about it on Facebook before and I told Johnny that I really hoped it was at the Aldi’s we were going to. Lucky for me, it was!

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Johnny and I are avid dippers. No, not in the chewing tobacco way! We just love chips and dip and like to make what we call “dip island” AKA a wide variety of dips on a table lol. So, when I heard talk of a pickle based salsa, I NEEDED it. Pickles are one of my favorite things to snack on and pico de gallo is my preferred style of salsa. A combination of both of these things really blew my mind and I couldn’t wait to dig in as soon as we returned home from our shopping trip.

At Aldi’s, there were two different types of pickle de gallo – a mild one and a thick and chunky medium heat one. Obvi, I got them both! I decided to try the mild pickle salsa first and it was everything that I hoped it would be and so much more. The pickles were tangy, the onions were sweet, and the red pepper had the perfect amount of zip to make my taste buds soar. Every bite had an insane amount of crunch and it wasn’t from the tortilla chips I purchased which were kind of a dud. Several chips in, I had to exercise self control because I most definitely could have kept on going!

If you are a pickle fan and looking for a new and exciting way to eat them; RUN to Aldi’s. Also, if you are looking to save money on groceries; RUN to Aldi’s. This shopping trip was a complete game changer and I can’t wait to go back! 😀

What grocery store do you shop at? What is the best thing that you have found at Aldi’s? I want to hear from all of you, so leave me a comment and let’s chat! Much love. -Sarah

Dec2

How To Better Protect Your Money

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How To Better Protect Your Money

If you want a secure life, then you need to look after your money. Money buys security and can prevent you from a lot of stress and worry. It is not a good feeling wondering if you can pay the heating bill this winter. As we get older, this security is ever more needed. We are going to have to retire with no real set income coming in and making do with the money we protected in our youth. So, let’s discover a few ways we can protect our money better:

Get Out of Debt:

If you have debts, then you must get out of debt and stay out of it too. There is nothing worse for your finances than paying interest rates. This is a great way to have nothing. If you can, contact your creditors and increase your payments to get rid of the debt as fast as possible. For some of you, it may be wise to enlist the help of a financial planner. You may be able to consolidate all your debts to make them far easier to understand and more manageable. 

Learn to Live Within your Means:

A lot of people spend more than their wages every month, which means they dip into their overdraft. If this is a continual thing, you will end up further and further into your overdraft and this leads to debt. It is not like a mortgage where you will have something at the end of it, it is simply wasted money. So, you need to start living within your means. There are many methods to do this. First, you need to become more financially aware so you need to track your spending better. You can download a banking app if you have not done this already and keep an eye on your balance. You can even set alerts to message you when your account is running low. Other methods include disabling the contactless feature on your bank card, trying to save your income that is not used for essentials, and only using a set amount for spending cash. You also need to learn how to practice delayed gratification. Instead of caving into your urges to buy something, you need to wait and see if you still want it in thirty days or once you have saved the cash for it.

Invest:

Investing wisely is one of the best ways to protect your money. Unlike savings, you can actually invest and keep up with inflation. One of the best ways to do this is invest in property. Buying your own home is wise. It can actuary end up being a lot cheaper than renting. A dual occupancy home from Meadan Homes, for example, allows you to rent out part of your home and make money on it too. Other ways to invest are with bonds, either corporate or government, the stock market, and collectibles. Investing in yourself is another great one, meaning paying for a higher education. You can do things like side hustles too, which is essentially running your own business and giving you valuable experience.

Spending money is an obvious part of life but you need to be smart about it to keep increasing your savings. Get started with the tips above today!

Featured Image By: Pixabay

Nov18

Essentials To Boost 2023 For Your Children

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Essentials To Boost 2023 For Your Children

2023 is on the horizon, and there are a lot of factors that you need to think about when it comes time to try to improve the year for your children. There are loads of things that you can do in the family that will help to make the coming year better and more exciting for your kids, and it’s important to think about the different ways in which you are able to do this.

Being the head of the family these days comes with its fair share of struggles and challenges, and the more you can do to deal with these effectively, the better it will be long-term. There are plenty of things that you have to think about that are going to play a big role in this, and being able to boost the coming year for your kids can play a huge role in making family life better. These are some of the key essentials that you can use to help you achieve this:

Extend the home:

Making positive changes to your property is something that plays a massive role in allowing you to improve the year for your children, as well as giving them more space and comfort. There are a lot of ways in which you can extend your home more effectively, and this is even something you can discuss with your kids in advance as well. Maybe you could turn the attic into a reading nook? Or, perhaps, finish the basement and turn it into the ultimate game room!

Look after finances better:

As a modern family, there are a lot of responsibilities and considerations to make, and one of the biggest things you need to get right as a parent is to make sure you manage money better. With the cost of living crisis beginning, it is essential for a lot of families to look for ways of being able to tighten their purse strings. The more you can do to help you look after your money, and ensure the family is more financially comfortable, the better. There are a lot of different ways in which you can achieve this like focusing on cutting costs, saving money little by little, and making better financial decisions.

Improve family health:

Working on improving family health is absolutely vital and you can do a lot to make sure 2023 gets off on the right track for the family, health-wise. One of the key things that can help you when it comes to achieving this is to swap your family’s diet for something healthier and more nutritious. It is also important to think about some of the best ways of being able to create a healthy family dynamic. This means you need to think about boosting mental health and well-being, and this is something that plays a massive role in helping you work on boosting your family health.

Plan more activities:

One of the best ways of making the most of 2023 is to plan more activities. How about visiting some adventure centres? Weekly family hikes? Cooking a meal all together? Being able to enjoy multiple different activities and keep your children active and engaged gives the opportunity to bond and have lots of fun too!

2023 will be here before we know it and you can make it the best year yet for your family! Spend time together, make improvements where you can, and continue to move forward as a strong family unit.

Featured Image By: Pexels