We recently discussed the large bite that dining out can take from your budget but it doesn’t stop there. Oh no, not even close. Take a look at the following budget busters and think about changing them too. 1. Smoking: Coffin nails cost the serious smoker about $1,600 yearly. Not to mention turning your lungs the consistency of the track at Daytona after a long day of racing. If you want to ever be taken seriously as a thinking human being, give up this habit. 2. Drop the pop: We talked about this one already. Daily liquid sugar overdoses are about as good for your immune system as smoking is for your lungs. Have you noticed how expensive pop drinks are at your favorite fast food franchise? 3. Lattes: This fancy caffeine injections costs about $4. Is this a good business decision for the young wealth builder? We say no. 4. Turn off electronics: Ignore the computer geeks. It saves noticeable money to switch off the gadgets before going to bed or when you’re gone. Opt for energy star models when you can. 5. Television: Do you really watch all those extra channels in the nose bleed subscription and, if so, should you? Go with the basic package or, better yet, none at all. Crack a book and find some real entertainment. Seriously, you won’t die if the television is off. That’s probably about all the budget busting a person can be expected to handle in one sitting but we’re not done yet. Come back tomorrow, if you dare, for five more habits that are killing your budget. The Young Wealth Team

Image Here

Scam-Proof Your Money: How to Spot Red Flags

Lately, we’ve become all too familiar with the term “identity theft”—it has become so easy for our money to disappear. It’s happening online, in stores, and in person. Try as we might, protecting our money has become much more difficult. A lot of companies we deal with on a day...

Renting to People With Pets

If you’re new to the income property game, you might have some questions about renting to people with pets. Because fewer people are willing to do it, there is extra income to be made when you offer your property to renters with four-legged friends. Many pet owners (Jason Hartman, for...

Beginner’s Guide to Interest

Like most financial concepts, interest can be confusing. Chances are, you didn’t cover it in high school and now you’re left wondering exactly how interest works. It really isn’t all that difficult—read below to gain a better understanding. Interest is simply the cost of borrowing money, and can be classified...

Buying Real Estate in a Fast-Paced Market

If you’re investing in your first or fifth income property, there are probably a few things left to learn. Often, you’re going to need to act fast (good deals don’t last forever) because demand is high and supply is low. In these instances, we’re here to provide some inside information...

Should You Hire a Money Manager Now?

Managing your finances can be overwhelming, time consuming, and frustrating. It’s easy to think you’ve got a handle on things or have become so confused that you’re willing to let your financial portfolio do its own thing. Fortunately, there are plenty of experts in the field of finance and investment...

What To Do When You Can’t Pay Your Taxes

Taxes can be a scary thing, particularly if you’re struggling to pay them or have fallen a few years behind. The threat of the IRS coming knocking on your door is a strong one—so strong, we hope, that most people are paying their taxes. When done right, as Jason Hartman...

What You Need to Know About Reverse Mortgages

A regular mortgage may sound like something difficult to understand. Throw in the reverse mortgage, and you may find yourself with a lot more questions than answers. But if you, like Jason Hartman, have a flare for real estate, it might be worth understanding. Basically, you give the bank a...

Archive