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Pennysaver 100 Day Challenge Update 1

Ten days down, 90 more days to go for the Pennysaverblog 100-Day Challenge. So far it has been going well. I have been managing to get at least 15 minutes of exercise everyday. One day I cheated a little but I made up for it by going for a long walk the next day. As I thought, taking the time out of my day to exercise has been my biggest challenge. I know 15 minutes isn’t much, but for me it will take some time to realize that exercise really should be a priority.

So far I haven’t given into the temptation to buy anything frivolous, although I am finding it tough to keep the grocery bill down. No matter how much I try, I always seem to spend more than I expected when I grocery shop. I will have to work harder on that. We haven’t eaten out, though, and I haven’t let myself near any dollar stores lately.

March 25, 2010

General

The Costs of Buying And Selling A Home

When you consider the costs of buying and selling a home, it’s a good idea to wait to buy a house until you are sure that you will live there for at least 3 years if not longer. The reason is that the cost to buy and sell a home can be quite high and you will be unlikely to recoup all of your expenses if you only live in your home for a short time.

Some of the expenses you will incur include:

Appraisal fees – Your lender may want you to get your home appraised in order to have an independent assessment of your home’s value. This can cost from $150 to more than $300.

Inspection fees – It’s always a good idea to have a qualified home inspector inspect the home before you commit to making the big purchase. A good inspector will help you to identify problems with plumbing, electrical, the roof, the foundation, and much more. This will help to ensure that you are buying a home that is in good shape. Inspectors vary in price. We paid about $350 for our home inspector when we bought our home. It was worthwhile because it bought us peace of mind.

March 17, 2010

General

Pennysaverblog 100 Day Challenge

I’m sure you’ve all made New Years resolutions and hopefully you are sticking with them. Although it’s not exactly the New Year anymore, I have decided to create the Pennysaver 100 Day Challenge that will run from March 15th until June 23rd.

I am doing this because I know I need to make some changes in my life, and if I write them down and share them with others, then I will be accountable, instead of just allowing myself to cheat. So, here’s how I will do it. I will write updates every couple of weeks letting you know how I am doing, and if I have failed in some way I will be sure to let you know.

These are the following things I hope to achieve over the next 100 days:

1. I will buy only what I need and I won’t buy anything frivolous. I’m already quite careful with what I buy, but sometimes I splurge on things that are unnecessary. For the next 100 days, I am determined to only buy necessities. This means I will need to steer clear of dollar stores because this is where I usually buy useless items. I will also have to be more careful when grocery shopping and limit myself to only purchase the items on my list.

March 15, 2010

General

When It Comes To Money – Are You A Saver Or A Spender?

Before you can improve your financial circumstances, it’s important to understand whether you are a saver or a spender. Some people don’t even realize that they are actually fairly decent savers, while others don’t think they overspend when they actually do. Take this short quiz to discover whether you fall into the category of saver or spender.

If you are a spender, then you more than likely find great satisfaction in buying tangible things like cars, video game systems, and practically anything else that could be considered a gadget or gizmo. You would far prefer to spend your money than to save it. You like to buy products when they first come out on the market even if they are overpriced.

March 11, 2010

General

Is it Better to Lease or Buy a Car? It Depends

Cars are among the most expensive purchases we’ll make. It’s therefore understandable that consumers want to make the right choice in deciding how to pay for a new car, whether to buy or lease.

When deciding on the best option for your unique circumstances, it really depends on your lifestyle and priorities. Car buying is just one consideration that needs to fit in a much larger picture. In reality, the perfect option for one person can be totally wrong for another.

First off, let’s consider how a lease differs from financing. When you lease a vehicle, in effect you are paying for your “use” of the car. You don’t own it. Rather, you get exclusive rights to use the car, for a predetermined period of time. Basically, you are paying for the equivalent amount of the car that you “use up”. Leasing has a number of cumbersome restrictions, not the least of which is that it is very difficult to get out of or transfer a lease. Generally, once you’re in a lease, you’re in it for the entire term.

March 9, 2010

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