The Frugal Prof

Its Not about the Money. Its about taking charge

5 Reasons Ebay is Great for Quick Cash.

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When I decided it was time to get out of debt, I quickly realized Ebay was going to be my best friend.

 

quick cash

Use Ebay to create quick cash

*Affiliate Disclosure: This page contains affiliate links to products or services that I endorse.  I may receive a commission from our business partners.  I strive to only partner with high quality companies that I believe add value to my readers.

 

I love money. I love everything about it. I bought some pretty good stuff. Got me a $300 pair of socks. Got a fur sink. An electric dog polisher. A gasoline powered turtleneck sweater. And, of course, I bought some dumb stuff, too.

–Steve Martin

 

Momentum is critical when you’re getting out of debt or taking control of your personal finances.   And Ebay can help you get cash quickly.  In my opinion, Ebay is the best way to get fast cash.




 

 

Why do I like EBay so much? Here are five reasons:

1. It’s easy. Find stuff you already own, take pictures, add a listing, and a week later you have cash.

2. You control the entire process.  You get to choose the minimum price you are willing to accept, you control how much time you want to spend on it, you control when the auctions will end, it’s all controlled by you.

3. It creates cash quickly.  You can receive money for your items in 3-7 days.

4.  It is a reminder that you’re buying stuff you don’t really need.  The next time you think about buying something, you can remember the items you sold on Ebay.

(More on this from my post, Why We Buy What We Buy here.)

5. You find out the real value of items.  All these items we buy depreciate immediately and lose much of their value.  Seeing the sale price of items on Ebay is a nice reminder that our purchases retain little value.

 

This month I became really motivated to sell some of my stuff on EBay.  I sold 19 items and brought in $493 of cash to help pay off my car.

I sold:

  • old headphones,
  • dress shoes,
  • a day planner,
  • an old football card,
  • and a bunch of other items.

New to Ebay? Learn more about selling on Ebay here.

 

Relevant Articles:

45 Ways to Increase your Income

9 Best Ways to Save $7K This Year

11 Legitimate Survey Sites for 2018

 

What I learned:  I don’t want to repeat this cycle of buying items, not using them and then trying to recoup their value on EBay.

It’s easier to avoid buying items that I don’t really need in the first place!

My main goal was to use Ebay to create some quick cash to help pay off my car. (Read about my last car payment here.)

However, if you have a discerning eye, it is possible to leverage  Ebay into a real business by flipping items.  It is a legitimate side hustle.  (More on Side Hustle ideas Here.)

I am not a big consignment shopper, but if I was, there is certainly a potential business using eBay.

One woman known in the media by her brand, Girlboss aka Sophia Amarosa, leveraged her eye for fashion into a successful store, brand, and following.  Her brand is worth around $100M and it all began with Ebay.

I never started a business. I started an eBay store, and ended up with a business. I never would have done it had I known it was going to become this big.  –Sophia Amoruso is the founder and CEO of Nasty Gal, which has grown to a $100 million-plus online fashion retailer

 

 

Creating fast cash: Tips for selling on Ebay.

Getting started:

Make sure you buy a few small items to create a rating.  Ebay keeps track of how many auctions you’ve had.  Ideally, you want to have a rating above 10 before you begin selling items.

This will allow you to become familiar with the process before you sell.

Quick tip:  Auctions that end on a weekend always attract the most bidders.

 

Lighting is very important.  My advice: Consider buying a light box if you will sell more than $1,000 in a year.  I believe they add about 10% to the value of an item, so it should pay for itself very quickly I really wish I had done this years ago.

Why lighting is important: High quality photos are very important and make it easier for your listings to sell.  And, your items will sell at a higher price.  The better lighting makes your items more attractive and they will stand out from the competition.  When you sell on Ebay, there are always competitive listings.

More on lighting here.

 

Be Honest:

Be honest about the quality/ condition of your items.  Positive feedback is important.  In the long run, it doesn’t make sense to embellish the condition of your items.

More Tips for Selling on Ebay:

  • The best days to start/ end an auction are Saturday/ Sunday afternoons EST.
  • You want the biggest audience for your items when they’re ending.
  • Make sure your item is worth selling.  Check what past auctions to get an idea of what your item it worth.
  • And make sure you consider the cost of shipping. It can cost up to $20 to ship shoes.
  • Remember to Sell in season. It’s hard to sell running sneakers in winter.
  • Having a PayPal account is very helpful. It’s worth having one even if you don’t want to use EBay.

 

Tools I recommend:

These are the minimum tools to get started:

Quality Shipping Tape

Label Scraper (amazingly helpful to remove price tags quickly and without danging the item)

Poly Mailer Bags for shipping

Good Bubble Wrap

Mister Clean Magic Eraser– To clean up books – Find the cheapest option

An acceptable and affordable shipping scale

A higher quality shipping scale

Quality  Lights for Ebay:  These were on sale ~$35 and they are great for the money.

Thank you stickers:  A classy touch:

Better pictures = higher profits on Ebay.  Lighting is very important.

 

Conclusion:

Keep in mind, EBay is a quick fix to create cash while you’re re-aligning your finances and getting out of debt.

But, for most people, it is not a long-term solution.

 




 

 

 

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My Problem with Side Hustle Ideas and The Best Side Jobs

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side hustle ideas

I’m always exploring new ways to earn extra money.  Even better if you can find a way to make money fast.

 

In this post,  I will offer some smart questions that one should ask before buying into a side hustle. Next, I will offer one of the better side income ideas that I have found.

Earning money on the side is a great idea.  I am in favor of having more money for your family, money to pay off debt, and more income to live a better life.  Absolutely.

I want to make sure that you discover the best side hustle ideas.

  • *Affiliate Disclosure: This post contains affiliate links.  Business partners may compensate me for inclusion on this blog, but I strive to only partner with quality businesses and the reader pays nothing.

Side Hustle Meaning:

Side Hustle:  typically part-time jobs that allow one to make extra money.  Sometimes a side hustle involves making money online, but not necessarily.  Some side hustles involve working from home.

Let me start by saying I like the idea of side hustles- part time jobs or gigs that can earn you passive income online.  And I occasionally listen to podcasts from side hustle entrepreneurs like Pat Flynn and Nick Loper.

In my opinion, you need to analyze any potential side hustle idea critically before you commit to them. You are investing two valuable resources in any side hustle opportunity:  you are investing money and you are investing your time.

 

Relevant Articles:

The Best Personal Finance Books

Survey Sites That Actually Pay

It’s not about the Money.  It’s about Taking Charge.

 

Questions you Need to consider before starting a side hustle:

1.  What is the probability this side hustle will make me money

Yes.  The main purpose of a side hustle is to make money.  I want an extra income.  I need cash.  Period.  So, the idea that you could invest in a side hustle course and not make money and possibly, lose money is something we want to avoid at all costs.

Just because there is a quote from someone on the internet claiming that they made money doesn’t mean much to me.  And also, When did this person make money?

Many opportunities no longer exist.

 

Value Investing

 

Flipping textbooks on Amazon via AMAZON FBA used to be a good money maker.  And then one day Amazon changed their fee structure.  Now, the people who did this side hustle are selling courses to teach a program that worked a few years years ago.

My concern with this side hustle is that you make an investment in inventory and Amazon can change their policy at any time.

It no longer works because Amazon eliminated the profit margin.  And it’s important to ask yourself, which other side hustle jobs have the potential to evaporate like this.

YouTube:  Recently, YouTube  changed their fee structure to smaller content providers.  You now need 1,000 subscribers and 4,000 hours of content to monetize your channel.

Realize that people had spent considerable time creating videos (and buying courses and video equipment), and now have almost no way to recoup their expenses.  They started a side hustle and lost both money and time. 

My intention is to look critically at side hustles to prevent this from happening to you.

2.   How much time will I need to commit?

There are many side hustles that allow you to make an income rather quickly and others you need to wait for a payoff.

Some side hustle ideas that pay immediately include: Getting Paid to Drive:

Essentially, You can Get a Check This Week

  • People Join Door Dash for a variety of reasons: to spend time with their kids, earn extra money, to pay for school, even to exercise and see the world.  You can use any car to deliver, as long as you have a valid driver’s license, insurance, and a clean driving record. Join Door Dash
  • Get paid to drive for LYFT:  Visit the LYFT website and Use this Exclusive CODE: DOUG4287 for an Extra $1,400 payout.

 

3.  How much can I Earn vs. The Costs to begin?

The purpose of a side hustle is to make money.  One needs to consider a realistic estimate of how much money one is likely to make.  And what is the source of the information.

I could show you 100 Pinterest Pins that claim someone has quit their job to blog full time and is making a six figure income.  Blogging is not a great side hustle if you need extra income now.

In reality, that is the exception.  Blogging is competitive and requires a lot of time and commitment before someone can make money.

It can also be a great side hustle for the right person.  See my post on, The 7 Golden Rules to a Profitable Blog Here.

 

Relevant Articles:

45 Ways to Increase your Income

9 Best Ways to Save $7K This Year

11 Legitimate Survey Sites for 2018

 

44 Ways to Make Money Now

4.  Is this Side Hustle Idea still making money?

Do you know who is guaranteed to make money from a side hustle?  The person selling expertise, a funnel guide, or a side hustle program.

Is this Side Hustle idea still making money.  Is this side hustle idea still viable. 

These are real questions.  And it requires research.  Right now, the Subway restaurant chain franchisees are suing the company for not supporting them with advertising.

Its being called a franchisee revolt.

You would never spend the $50,000 or $75,000 to invest in a Subway franchise after you learned this information.  Additionally, you would not want to invest in a side hustle course that is no longer viable.

 

 

5.  Does this Side Hustle add to my skill set?

Great question. A really good side hustle would add to your skill set as well as helping you earn extra money.

 

 

 

 

Become a Certified Closing Agent.

  • One big advantage of becoming a Closing Agent is that you learn a new skill.
  • You Earn Extra Income,  Set your Own Hours, and the Income is Excellent ($75-$200 per appointment).
  • You can get started with absolutely zero experience. You are hired simply based on your location in proximity to the loan signing.
  • Next, you can work from home and be your own boss. Owning your own business can allow you to take advantage its many benefits, such as tax write-offs.
  • • You have the ability to make money almost immediately.
  • It pays nearly 9X more than driving for Uber.  However, it requires you to take a class and invest time and money.
  • If you can do that, then you can start making up to $200 per signing.
  • Learn More about the Loan Signing System here

 

One of the Better Side Hustle Ideas I see:

This side hustle fits with all of the previous criteria I’ve mentioned.

You learn a valuable skill.

You earn an excellent fee of $75- $200 per appointment.

The up front costs are pretty small compared to the actual compensation.

Learn More about the Loan Signing Course.

 

Conclusion:

In this post we’ve reviewed the important questions you need to answer before you invest in a side hustle idea that’s being promoted.  Is this still a great side hustle idea.  Is this person selling a course because the idea is no longer profitable.  What’s the investment of time and money for this idea.  When will this side hustle make me money.  All legitimate questions.

My only interest is in helping you succeed. 

And I would hate for you to invest your time and money into something that is no longer a viable side hustle idea.

I’ve explored a bunch of side hustles and for me, they took too much invested time for a pay off that may or may not come someday.

My time and money is valuable.  And I need that payoff.

Caveat emptor!  Buyer beware.

 

 

 

 

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Have I gone too far? (I cut pizza out of my budget)

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Yes, I cut Pizza form my Budget

 

 Have I gone Too Far?

The first step in getting out of debt is to figure out where your money is going.  I learned a lot when I reviewed my spending last year. It was a bit depressing, but at least I learned how I was wasting my money.

I wanted to take control.  If I spent money on something, I wanted to get value from it.

So, when I reviewed my credit card statement,  I noticed that I spent a lot on pizza deliveries.  Each large pizza was about $23-$25 depending on whether I had a deal, coupon code, or special offer.

I almost always use a coupon code from Ebates and get cash back from my online purchases. More about Ebates Here.  However, pizza delivery is not usually a cash back item.

Either way, it’s a lot for a pizza when you compare it to a pretty good pizza I can buy frozen. It’s an extra $15-17 each time I order delivery pizza. And most of the extra cost is delivery fees.

So, I started buying store bought pizza and I’m saving about $51 each month ($17 savings 3 X per month).

 



 

 

Is it a huge savings?  Not really.  But right now, I’m fired up.  And I want my car payment to go away.  And I’m kind of sick of being ripped off.

Why is the delivery pizza so expensive?  There’s a $4 delivery fee and taxes plus I give the driver a tip.   I don’t know how much of the delivery fee that he/she gets to keep.  I like to tip people who work hard.  But, I would prefer to keep my money.  Delivery pizza is not that great.  And it takes much longer.

 

Related Articles:

44 Best Side Hustles To Make Money Now

 

The key to this process is to align where you’re spending your money with your values.

  • What do you value?
  • What is really adding value in your life?

For some people, cutting the cord on cable is a great way to save money.  For others, that would be crazy.  As long as you’re getting value, then it makes sense.

 

Relevant Articles:

45 Ways to Increase your Income

9 Best Ways to Save $7K This Year

11 Legitimate Survey Sites for 2018

 

What doesn’t make sense is spending money for a service without actually getting value.  I was paying over $100 a month for a storage locker.  That is a great example of an item that was adding zero value in my life.  Yet, here I was spending money month after month for this service.  Until I woke up and said, “No More.”

Bottom line- right now I’d rather be a little closer to paying off the car and being out of debt than pay $100 this month for pizza.  Also, I tend to eat too much of the delivery pizza because it’s better than the store kind.  So, this should help my waistline a bit too.

Maybe I’ve gone too far.  I’m fired up and focused on the paying off my debt. I’m seeing all the stuff I purchased over the last 15 years that added very little value to my life and I’m done spending money that doesn’t add value or make me really happy.

 

 

Please share your comments!

 

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Why You don’t need Lululemon to workout.  

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Consumer Debt is at Record Highs:

In the fourth quarter of this year, consumer debt, excluding mortgages and other home loans, rose 5.5% from a year earlier to $3.82 trillion. (via WSJ)

That is the highest amount since the Federal Reserve Bank of New York began tracking the data in 1999. Moreover, consumers’ non-housing debts accounted for just over 29% of their overall debt load, also the highest amount on record

Each person is responsible for their own choices.  But, it’s hard to imagine that this current debt binge will end well.

 

Value Investing

 

 

  • *Disclosure: My aim is to recommend products that will truly benefit you.    I believe in transparency and want to disclose that I’ve included certain products and links to those products on this page that I will earn an affiliate commission for any purchases you make.

 

I chose to become debt free and make changes to my lifestyle.  One of the things I did was to look at all of my purchases and analyze which products and services really added value to my life.  And paying more for a designer label really started to feel like a large waste of money.

Confession time:  Until last month I had never purchased any fitness clothing other than Lululemon, Nike, Adidas, or Under Armour.

 

I’ve always liked expensive brands like Ralph Lauren.  I make no secret about that.  Now that I am on a journey to early retirement, I try to evaluate which products are truly adding value to my life.

If a product is worth a premium price, then great.  But if not, I will switch to a more economical competitor.  It’s my money.  I want to use it in a way that adds value to my life.

By reviewing my purchases from last year, I know that so many of the products and services I was using didn’t add value.  That extra savings helped me pay off my car and become debt free.

It is about taking control of my money.

 

I use Ebates and they give me cash back for nearly all of my purchases.  Ebates gets a commission from stores you shop at and they share the commission with you.  Average cash back is about 7%, which is great.  Right now, they are offering a Free $10 Gift Card when you join and spend $25.  More about Ebates Here.

 

 

 

 

Frugal Tip:  Now I’m exclusively watching Amazon Deals for most of my new gym wear.  For example, last  month, I found a pair of Champion sweatpants for $14.   Amazon offers some great deals on less expensive workout clothes.  They have exercise clothes, workout gear, fitness equipment, and active wear.   At great prices.

So, I went for it.  And they’re better than the Nike and Adidas workout clothes I usually buy.  They fit better and are more comfortable.  And yes, I like that they saved me about $20-$25.  Yeah, I like that a lot.

Life goes on if you’re not in the most overpriced workout clothes (lululemon yoga pants)!

 

 

 

Relevant Articles:

45 Ways to Increase your Income

9 Best Ways to Save $7K This Year

11 Legitimate Survey Sites for 2018

 

 

I know some single people are thinking, yeah but I need to look good, because I’m single.  And to that I say, you might actually look better in other styles and brands of active wear and fitness clothing.

Again, if you’re getting value from a purchase, then that’s fine to pay a premium.  But, if you’re not, then definitely consider switching.

 



 

Are we getting what we pay for?

My dad used to always joke that every polo shirt is made in the same factory.  And for the Ralph Lauren shirt they put the polo player on it and charge $70, while the other polo shirts have no polo player and sells for $25.

There’s a lot of truth to that.

Luxury does not always equate to quality.  It used to.  But not always these days.  And certainly not in all things.   More on fashion and debt. 

 

Less expensive gyms:

I switched to a less expensive gym about a year ago.  I’m saving a lot of money and I haven’t noticed much of a change.  Working out is important and I know some finance blogs suggest cutting it out altogether.  I think that is a decision that is up to you.  For me, working out is important to keep me healthy both mentally and physically.  I get value from my gym membership.

I do suggest looking for gym deals and comparing gym membership prices.  And negotiating a better deal.

What I’ve learned is that You don’t need expensive yoga pants or an expensive health club membership to feel good about yourself.  It usually comes from inside.

 

Have you switched brands since you started paying more attention to your finances? 

Share in the comments.

 

Subscribe to my email List Here.

 




 

 

Emergency Fund: An Umbrella for your Life

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The emergency fund is the first step in any debt free journey.

Emergency Fund Definition:  An emergency fund is an account used to set aside funds needed in the event of a personal financial dilemma, such as the loss of a job, a debilitating illness, or a major expense.

*Disclosure:  My aim is to recommend products that will truly benefit you.    I believe in transparency and want to disclose that I’ve included certain products and links to those products on this page that I will earn an affiliate commission for any purchases you make.

 

According to financial host Dave Ramsey,  the first emergency fund is a $1,000 that should be set aside for unexpected emergencies.

A larger emergency fund is when one becomes debt free except for your home.  This  should cover 3-6 months of expenses.  So, for many people this could be between $12,000-$24,000, depending on your income.

An emergency fund prevents you from becoming desperate when an unexpected emergency happens.  And they will.   Getting a credit card advance or a payday loan are terrible alternatives.

 

How big should your emergency fund be?

The more stable your income and household are, the less you need in your emergency fund.

If you’re part of a two-income household or you’ve had a steady job for several years, then a three-month emergency fund is probably just fine.

But if you’re a one-income family, you’re self-employed, or you earn straight commission, then a six-month emergency fund is probably a better idea for you since a job loss could make you unable to pay the bills.

Relevant Articles:

44 Ways to Create Extra Income

Getting Results: How I Paid Off $17K

The Best Personal Finance Books

 

Value Investing

Where should I keep my emergency savings?

Your emergency fund should be liquid, meaning you need to keep it in a place where you can get to it easily and quickly.  (See my post on banks that still offer free accounts.)

The best option is a simple checking account or money market account that comes with a debit card or check-writing privileges. That way, you can pay that doctor or mechanic quickly and with no headaches.

But . . . make sure you’re not keeping your emergency fund in a place that’s too easy to access. You don’t want to be tempted to dip into it!

What’s an emergency?

When a sudden expense pops up, it can feel like an emergency—but that might not be true.

Here are three questions to ask yourself to determine if you need to tap into your emergency savings:

1. Is it unexpected?
2. Is it necessary?
3. Is it urgent?

 

How to Quickly Build an Emergency Fund

One of the easiest ways to beef up your emergency fund is to sell some stuff! Go take a look in your garage or dig through your closet—is there anything you could part with? Selling some items that are collecting dust can add up to major cash in your emergency savings. And every little bit helps! You’d be surprised at how quickly $5 here or $10 there can add up.

 

Related Articles:

11 Ways to Earn More Money in 2018

Survey Sites that Really Pay

 

It’s important to note that investments do not count towards an emergency fund. Your retirement or 401 (k) does not count.  These accounts are not liquid or easily accessible (there are serious tax consequences for 401 (k) withdrawals.)

People who don’t have an emergency fund wind up being forced to take out a pay day loan or get a cash advance on a credit card.  Getting access to emergency loans or emergency cash is not what I want for you.

I don’t want this to happen to any of my readers.  The interest rate on a payday loan and credit card cash advance are incredibly high and will delay your ability to become debt free and invest.

 



An emergency fund is vital. It’s vital because emergencies happen.

People get sick, lose a job, car accidents happen, tornadoes, hurricanes, riots, fires, earthquakes all happen as well. As an adult, we prepare just in case something like this happens to us.  Because they will.

  • I am in my late 40’s:
  • I have lost a job,
  • had a health scare,
  • lived in a city that experienced a major riot (Los Angeles 1995),
  • and in a city that experienced a major hurricane and flood (New York 2012).

 

Life happens.  These were all near misses that should have been wake up calls for me.

Don’t wait.  At the very least, start saving for your $1,000 emergency fund today!

 

Having an emergency fund is an umbrella for your life.  Be prepared.

 

Join my E-Mail List Here

 

 

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Taking control of my money

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It’s starting to happen.  As the credit card bills roll in I realize that the steps I’ve taken over the last 6 weeks are paying off.  My credit card bills are down $700 from my average bill.  It feels amazing. I don’t wait to open the credit card bills like I used to do.  I’m keeping track of my spending.  And it’s going down.  I’m using the debit card more often. 

 I’m questioning each charge- do I really need that?  Can it wait?  Is it really worth $40 to me?  Pretty much, when I buy something now, if I don’t love it, it goes back to Amazon.  Yes, I use Amazon for many of my purchases.  Now, I’m also looking at their deals- especially lightening deals.  I want the best deal now.  Before, I would buy anything that was at a discount.  Not anymore.  

I feel in control and not on the defensive.  And it feels really good.  Dave Ramsey always says, “the psychology is more important than the math.”  Winning with money.  Still lots of work ahead of me, but I am on the path and I am in control.  

I estimate I will be done with my car payments in 9 months.  So excited for that.  I’m analyzing that if I can cut back here and there, if maybe it can be sooner like 5 or 6 months.  And then that money will go into saving and investing.  

It’s starting to happen 👍

Do I Regret the $600 Adele Concert? 

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Since starting this blog about personal finance and becoming debt free, I’ve spent countless hours looking to reduce my spending.  So, you might be surprised that I spent so much on a concert.

Do I regret it?

adele concert

Adele in Concert

The backstory: I had a family reunion in New York.  Using credit card miles, my room was free (savings of nearly $500).

One of my best friends wanted to go see the Adele concert. And I wanted to see her too. But, we needed tickets and the concert was only a few days away.

We spent a lot of time on stubhub looking for reasonably priced tickets. There were none.

About three days before the concert, the insider hold tickets became available. These are usually reserved for industry insiders: pr people, record executives etc…

The tickets were expensive, but in a great location: front row for about half the concert!  (see for yourself in this video!)

 

Adele: Live in New York at Madison Square Garden

 

Budget: Choosing Where my money Goes

Getting out of debt and sticking to a budget can be hard.  Inevitably, one will be tempted with something you really want.

The benefit of doing a budget is you can know exactly how you’re spending your money.

Once I took control of my money, I was able to choose what was important to me. And most of the time, experiences are better investments than stuff.  (See my post on, Why we buy What we buy here.)

 

Free travel

 

Experiences vs. Stuff:

I made a lot of progress in cutting back on spending and living a frugal life.  However, when I had the chance to see Adele live in New York with one of my best friends- it was an experience I could not pass up. And it was totally worth it.

We wound up spending a lot on the tickets, but we had the best seats in the house.  This photo was taken by me.  We were basically front row for about half of the concert.  It was amazing!

adele in concert

With that said, I am not sure I would want to spend that much on concert tickets again any time soon. Here are some great tips to help you save on your next concert.

6 Tips for  spending Less on Concert Tickets:

1. Sit near the back

You won’t have the best view, but you’ll still hear the music. In general, a seat farther back at a concert costs less than sitting in the first row. Take a look at the price for nosebleed seats before you dish out more for the front section.

 

2.  Get cash back on your tickets.

I use Ebates and they do give cash back for concerts and tickets.  Ebates gets a commission from stores you shop at and they share the commission with you.  Average cash back is about 7%, which is great.  Right now, they are offering a $10 Gift Card when you join and spend $25.  More about Ebates Here.

3. Buy from a reseller

Check out resale tickets from verified secondary sellers and ticket resale brokers — which can be offered at a better price and with a guarantee, according to Gary Adler, executive director and counsel of the National Association of Ticket Brokers (NATB), a nonprofit trade association and a member of the Council of Better Business Bureau’s National Partner program.

 

4. Wait until the last minute

We got lucky with the Adele tickets because they became available a few days before the show.

While concert ticket prices are unpredictable, in some cases prices could drop as the performance approaches, says Chris Leyden, communications manager at SeatGeek.

 

5. Smaller Cities

Ticket prices can vary depending on the location of the concert — even for the same artist and the same tour, Leyden says. Compare prices at concert venues to find lower prices.

“Check out the nearby shows,” Leyden says. “You don’t have to take a massive trip where you fly from Miami to St. Louis. If you live in New York, you can do a quick weekend trip to Philly or a weekend trip to Boston.”

6. Sit solo

When searching resale options, you’ll generally see better deals on single tickets, says Jessica Erskine, a spokesperson for StubHub.

“Often someone might buy tickets in threes or fours and have one friend who can’t make it, and they’re trying to sell that one ticket,” Erskine says. “It’s so hard to find someone who’s willing to go to a show as a single guest that often you can find single-price tickets at lower prices.”

 

7. Concerts at the Fair

OK, maybe Adele still isn’t in your budget. If you’re not picky about who you want to see live, check the fair circuit. Some county fairs grant free admission to a concert along with paid entry to the fair, which usually costs less than a concert ticket.

This was an Amazing experience for me. Plus, I shared it with one of my favorite people in the world.

We posted pictures and video on social media of Adele singing Hello Live in front of us.  It was an Amazing Night! It was an incredible experience.

Am I telling you to spend $600 on concert tickets?  No.

I learned that an expensive experience can be much better than spending money mindlessly.

 

What I learned is that I want to spend my money consciously.  I want my spending to bring memories that last.  And that paying off debt makes me feel great.  So, unless there is something truly special to spend my hard-earned money on, I’m keeping my money invested so I can retire early.

Share your thoughts in the comments!

 

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Relevant Articles:

44 Ways to Create Extra Income

Getting Results: How I Paid Off $17K

The Best Personal Finance Books

Dumb Stuff I Used to Buy and My Debt Free Action Plan

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How Does Debt Consolidation Work

Financial Freedom

The dumb stuff I bought last year.

The only way to get out of debt and cut spending is to get organized.

Looking at my credit card statements was the only way to analyze how much I was spending from online shopping.   So, it was time to look at the VISA, MasterCard and American Express bills.

  • *Disclosure: My aim is to recommend products that will truly benefit you.    I believe in transparency and want to disclose that I’ve included certain products and links to those products on this page that I will earn an affiliate commission for any purchases you make.

Going through my year-end credit card statements is like a compendium of all the dumb stuff I used to do:

  • Online shopping- Yes.
  • Food delivery-Yes.
  • Bored shopping- Yes.
  • Online shopping- Yes.
  • Restocking fees- Yes.
  • Storage Fees- Yes

I paid $100 as a restocking fee on a chair I bought and didn’t like.  It was a chair for my balcony and I regretted it after I ordered it.  I thought I needed furniture on my balcony.  Because if you have a balcony, you Need furniture on it.  Right?  Wrong.

It was an online purchase.  And an impulse buy.  I didn’t even realize there would be such a large restocking fee.

I paid $100 for a chair I don’t even have.  That’s pretty dumb.

 

I was smart enough to get cash back from Ebates, which is a great resource for discounts and cash back. They get a commission from stores that you shop at and they Share the commission with you. Its a great way to save money.  (More on Ebates here.)

 



Just because I have a balcony doesn’t mean I need to buy furniture for it.  This is a topic covered very well by the minimalists who have an interesting podcast I recommend.

 

 

 

Online Food delivery:   I spent $769 on the  food delivery service Postmates.   That’s like $70 a month for online restaurant delivery:  alcohol, burgers, Chinese, and pizza delivery.  It’s like a lazy tax.  I was tired and hungry and didn’t feel like getting in the car.  What a waste of money!

Related articles:

11 Ways to Earn More Money in 2018

Luckily, I now realize how dumb this spending is.  Also, I quit drinking about 6 months ago, so there will be fewer (hopefully no) future alcohol deliveries.

 

Charity

The one thing I didn’t spend enough on is charity.  There are some token charges here and there, but clearly it wasn’t a priority last year. And I’m going to change that.

I’m a big fan of Donors choose and a few other worthy charities.  I’m hoping to budget and give regularly next year.

 

In order to become debt free I needed to make major changes.  I had to create a plan.  Here are the steps I took to become debt free.  No more dumb shopping.  No more waste.  Just action.

 

Ray Krok Success Quote

 

2018 Goals:  Less stuff.  Fewer online purchases.  Pay off my car.  More charitable giving.

 

1.  Get organized:   Its nearly impossible to stay in debt if you’re organized.  For most people this means opening the credit card statements that are unopened in a box or drawer somewhere.  You can no longer hide in denial about the credit card debt or student debt that has accumulated.  By getting organized, you will be able to Take Charge of your personal finances.  You wont need a personal loan or any debt relief.

Right now, I’m reviewing my year end credit card statements from last year and i see so many charges that I have now cut out.  And I feel great about all the money I am not wasting.  But part of me is calculating how many thousands of dollars of money that just spilled out of my life simply by not paying attention.  Read more about the dumb stuff I bought last year.

 

2.  Create a Budget:

It doesn’t have to be fancy.  On one side is all the income you have coming in.  And on the other side is ALL the expenses you have going out.  Every dime!  Which means you must open the credit card statements and really understand where your money has been going.  One of the advantages of this exercise is that it allows you to find your areas of wasteful spending.

 

Relevant Articles:

The Best Personal Finance Books

44 Ways to Create Extra Income

It’s not about the Money.  It’s about Taking Charge.

 

3. Eliminate wasteful spending.

The most obvious wasteful spending for me was a storage locker I was paying nearly $100 a month for.  It made me so angry that I eventually began this journey and started writing this personal finance blog.  Use the old maxim, A Penny Saved is a Penny Earned.” and realize when you go through your bills that every wasteful thing that you have spent money on in the past that you don’t really enjoy, is earned money.  Don’t dwell on the money that you have wasted in the past.  Focus on your debt free future.  I was paying for auto renew memberships that I didn’t even remember.  Never again.

I began to explore our current consumer culture and why we buy what we buy.  This helped me explore why I was spending so much money shopping.  More on Consumer Culture here.

 

4. Negotiate Discounts:

For those services and memberships that you like but would like to pay less for, you need to contact the merchants and ask for a discount.  Yes, you can do it.  And yes they will give you discounts on your memberships:  Cell phone carrier, cable company, Satellite radio etc…  I have written a whole post about How to negotiate Discounts.

 

5.  Create an Emergency Fund: 

It’s easy to fall into debt when unplanned emergencies happen.  Unfortunately, life is full of unplanned emergencies.  That is why you need to set aside an emergency fund of at least $1,000 to start.  I have written an article on why and emergency fund is so important,  An Emergency fund is an umbrella for your life.

 

6. Increase Income:  Depending on how much leverage you want to achieve or how much credit card debt and student loans you have, it may be time to increase your income.  When I got really motivated to pay down my debt, I wrote financial articles for a financial blog and created this blog.  You may want to find a side hustle or side income.  I have written a number of posts about the best ways to increase income.  45 Ways to Boost your Income is one example.

 

7. Stay Motivated:  I found reading the book, The Total Money Makeover by Dave Ramsey to be incredibly helpful.  Yes, it lays out the framework he used to be become debt free.  But, the big benefit of the book is it gets you fired up to get out of debt.  It is very motivational.  And that is really helpful on the debt free journey.   Don’t take my word for it.  Read the Amazon reviews.

 

Conclusion:

It’s embarrassing to look back and admit all the careless and wasteful spending I was doing.  I wasn’t even consciously aware of most of it.  The great thing about this process is it allows you to take charge of your money.  And your life.

Upward and onward this year!

What about you?  What are some of your purchases that you regret?  Post them in the comments.

 

Join my e-mail list here.

 

 




 

 

How Long Have You Been Waiting to Say, We are Debt Free?

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we are debt free

Financial Freedom

In this post, I share the embarrassing amount of time I have wasted contemplating becoming debt free.  And I show you the steps I took to create a life beyond debt.  I am sure we can all agree that when debt is not a priority, it can simply accumulate and eventually it becomes a problem that needs to be addressed.

It is far better to attack your credit card debt or consumer debt now and soon you’ll be able to say, “We’re Debt Free.”

It just occurred to me that I’ve been putting off creating a budget and getting my finances organized for more than a decade.  Yes, a decade. You can imagine if I was able to tackle these issues earlier, I would have saved thousands and thousands of dollars.

What was I thinking?  Basically, I’ll deal with it later.  And later never came.  Read about my journey in How It All Began.

 

The steps you need to take to become debt free are pretty simple:

we are debt free

 

1.  Get organized:   Its nearly impossible to stay in debt if you’re organized.  For most people this means opening the credit card statements that are unopened in a box or drawer somewhere.  You can no longer hide in denial about the credit card debt or student debt that has accumulated.  By getting organized, you will be able to Take Charge of your personal finances.  You wont need a personal loan or any debt relief.

Right now, I’m reviewing my year end credit card statements from last year and  I see so many charges that I’ve been able to cut out.  And I feel great about all the money I am not wasting.  But part of me is calculating how many thousands of dollars of money that just spilled out of my life simply by not paying attention.  Read more about the dumb stuff I bought last year.

 

2.  Create a Budget:

It doesn’t have to be fancy.  On one side is all the income you have coming in.  And on the other side is ALL the expenses you have going out.  Every dime!  Which means you must open the credit card statements and really understand where your money has been going.  One of the advantages of this exercise is that it allows you to find your areas of wasteful spending.

 

Relevant Articles:

44 Ways to Create Extra Income

Getting Results: How I Paid Off $17K

The Best Personal Finance Books

 

3. Eliminate wasteful spending.

The most obvious wasteful spending for me was a storage locker I was paying nearly $100 a month for.  It made me so angry that I eventually began this journey and started writing this personal finance blog.

Tips on how to start your own blog here.

“A Penny Saved is a Penny Earned.” – cut out every expense that is wasteful and you have earned money.  It’s really that simple.    Don’t dwell on the money that you have wasted in the past.  Focus on your debt free future.  I was paying for auto renew memberships that I didn’t even remember.  Never again.

I began to explore our current consumer culture and why we buy what we buy.  This helped me explore why I was spending so much money shopping.  Thoughts on Consumer Culture.

 

4. Negotiate Discounts:

For those services and memberships that you like but would like to pay less for, you need to contact the merchants and ask for a discount.  Yes, you can do it.  And yes they will give you discounts on your memberships:  Cell phone carrier, cable company, Satellite radio etc…  I have written a whole post about How to negotiate Discounts.

 

5.  Create an Emergency Fund: 

It’s easy to fall into debt when unplanned emergencies happen.  Unfortunately, life is full of unplanned emergencies.  That is why you need to set aside an emergency fund of at least $1,000 to start.  I have written an article on why and emergency fund is so important,  An Emergency fund is an umbrella for your life.

 

Cash surveys

 

6. Increase your Income:  Depending on how much leverage you want to achieve or how much credit card debt and student loans you have, it may be time to increase your income.  When I got really motivated to pay down my debt, I wrote financial articles for a financial blog and created this blog.  You may want to find a side hustle or side income.  I have written a number of posts about the best ways to increase income.  45 Ways to Boost your Income is one example.

 

 

When did I realize things were bad?  I created a rule- do not open a credit card bill on Fridays.  Why? Because my credit card bills Always put me in a bad mood.  Maybe you can relate to this.  Was that a warning sign?  Yes.  Should I have taken it more seriously?  You bet.

But, I’m doing it now.  I’m making progress.  It feels really good to be debt free.  I wish I did it sooner.

 

In this post, I have outlined the steps necessary to begin the journey towards becoming debt free.  Get organized, create a budget, reduce frivolous spending, create an emergency fund, and increase your income.  As with all things, getting out of debt will take some time.  But, with these action steps, you will be on the way to one day being able to say, “We are Debt Free.”

 

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Can I Buy a House: 5 Questions You Need to Answer

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Am I financially ready to Buy a House?

We can all agree that buying a house is a very important financial decision.  So, before you call your realtor or think about a mortgage, or even interest rates,  let’s discuss some of the important questions to consider when buying a house.   Can I Buy a House?

In this post, I will outline the 5 questions that will improve your chances of making a successful move into home ownership.  These home buying tips are a guideline that will prevent you from becoming house poor and drowning in a house payment you can’t afford.

House poor is a situation that describes a person who spends a large proportion of his or her total income on home ownership, including mortgage payments, property taxes, maintenance and utilities.

Let me be honest, these questions might annoy you.  But, whether or not you can buy a house really depends on the answers.  So, let’s begin.

 

Value Investing

 

I believe in a few guidelines for buying a house:

  1. Are you going to live in the area for 7 years?

  2. Can you afford a 20% down payment on the house?

  3. Can you afford to pay off the mortgage within 15 years?

  4. Is the cost of the home at or below 25% of your income?

 

Now, how do you feel about those questions?

If you’re annoyed with me, you might have House fever.  A house should be a blessing and if a home mortgage is too expensive for your budget, it can become a huge burden and become incredibly stressful on a family and on a marriage.

I get it: Real estate in many cities is very expensive: Los Angeles, San Francisco, Miami, and New York etc… Home prices are incredibly high due to low interest rates.

 

I don’t expect real estate returns to outpace the returns available in the stock market.  So, having a huge portion of your income going to housing as an asset is not recommended.

If you can meet the criteria I described above, then a mortgage won’t be a huge burden and you can also save for retirement and meet other financial goals like funding your kids college education.

But if you can’t, you are at risk of having too much invested in a home you may not be able to afford right now.  It may require more savings or even increasing your income.

In addition, once in a new home, many people wind up spending to upgrade the house, buy new furniture, etc…  And these additional expenditures can prevent you from paying down debt and being able to afford to save for retirement.  I am in favor of home ownership and realize that it is difficult in many expensive cities.

However, I am in favor of doing it the right way.

 

Relevant Articles:

44 Ways to Create Extra Income

Getting Results: How I Paid Off $17K

The Best Personal Finance Books

 

I believe one should minimize debt before buying a house.  Getting out of debt and saving for a down payment are good exercises to get one started towards buying a house, condo, co-op, or any real estate.

I grew up in a medium size city outside of New York.  The economy has struggled.  The real estate market did not beat inflation.  Real estate was not a good investment for my parents or my friend’s parents.

If you didn’t allocate portions of your capital to other investments, businesses, real estate, and the stock market, then you are not in a good position financially solely due to your home.  This is not what that generation was told.  And it has been sad to watch many people struggle financially who did what they were told.

I believe in buying a home, but as a portion of an overall investment strategy.

Rent or Buy: For me personally, I’ve moved extensively in my life and have not owned a home.  I have done well in my investments – mostly in the stock market.  It does bother me at times when I pay rent, but it’s not a dollar to dollar comparison.  In order to purchase a home, I would need to allocate 20% to a down payment and then it would be a dollar to dollar comparison between rent vs. owning.  Also, I am not convinced I will stay in this city for the next 7 years.  So, I am following the same rules on, Can I buy a home.

 

 

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