Jason Butler, Author at Dinks Finance

About Jason Butler

Jason Butler is an Atlanta native, as well as businessman, blogger and teacher. Not only is Jason a prolific flipper, marketer, writer and side hustler his number of years in higher education and student support have given him expert knowledge in understanding the economics of the student loan industry.

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Great Stock Market Tips

Posted on January 18, 2017 - 6:30 am by Jason Butler 2

stock market tips, investment tips, stock market advice

The stock market is something that many people want to get into. Before you spend your hard-earned money, you should do a little research first. It can be hard to figure out where to get started. By reading today’s article, you can get some good advice on what you should know before giving this type of investing a chance.

Diversify

Avoid placing all of your eggs in one basket. If you put all of your money into one or two stocks and those stocks fail, you have lost everything. If you choose to diversify, you will have stocks in many different areas to turn to. That will give you a more diverse portfolio that you can see gains from. You should also diversify your holdings. By investing your money in various sectors and investment vehicles, you limit the risk of losing money. It is wise to invest in a combination of stocks, bonds, and cash vehicles with the allocations varying depending on your age and your comfort level about risks.

Shop around

If you are investing in the stock market, be sure to shop around on the front and back load fees in addition to any other fees. Depending on the type of trading you plan to participate in, fees can eat away quickly at your at your earnings. Compare the rates of many investment companies before making your decision.

What do you want?

Before you decide how much you want to invest in the stock market, take some time to figure out what you want your investments to do for you. Are you looking forward to building a retirement fund? Are you looking to make some extra income? Once you get that figured out, you will be able to decide how much you are willing to risk on the market.

Do your research

Do not blindly follow the recommendations of your investment broker without doing some due diligence of your own. Ensure that the investment is registered with the SEC and find some background information that shows how the investment has performed in the past. There have been instances of fraud whereby the info presented by the broker was fabricated.

Have an objective

Keep your adjective and time horizon in mind when choosing your stocks. If you have many years left and are saving for a retirement decades away, invest aggressively. Look at small cap growth stocks or related mutual funds. The percentage of your portfolio in the stock market should be as high as 80% if this is your personal situation.

Education

Having a good education is important when it comes to the stock market. Investors who understand basic accounting principles are much more likely to have success with trading. This does not mean you have to get an accounting degree. You just need to know the basic scoring system of how the stock market works, such as annual reports and stock history.

Terms

Learn to invest in the long-term, as well as in the short term. When you invest in stock, you should have a pretty good idea of how long it will take for the stock to gain value. A short term investment should be made if you notice a trend. However, you should make a long-term investment if you know a particular company has a good chance at beating its competitors in the next year or so.

Tips on Reparing Your Credit

Posted on January 16, 2017 - 6:30 am by Jason Butler 1

credit repair, credit repair tips, credit repair advice

Having a personal loan application denied due to horrible credit can be a real eye opener. That happened to me in 2014. My credit was not the best. At the time, I wasn’t working full-time and I was struggling financially. Thankfully, things have changed for the better. My credit score is much higher now than it was back then. Many people are in similar situations. They have bad credit, and they don’t know what to do. Improving your credit for a number of reasons can be hard. Poor credit can be hard to talk about or share with others, so it’s hard to get the kind of info you need to make a change. There is info out there if you get out of your comfort zone and look. Here are a few tips that may help you to repair your credit.

File a dispute

Sometimes the information on your credit your report can be wrong. You may need to file a dispute about an incorrect item. Be sure to include as much info as possible in your dispute. The more information the credit reporting agency has on your dispute, the faster it can be dealt with and the sooner your credit score will increase.

Consider a savings account

If you’re serious about changing your spending habits, consider opening a savings account. Most banks or credit unions offer that service for free. You set up auto deposits each month to help you get your savings started.

Become an authorized user

The third thing that you can do is ask someone close to you if they can make you an authorized user to one of their accounts. Make sure that it’s an account with a low balance compared to its limit. It should also have a perfect history of payments. Lastly, it should have been open for at least a few years. As an authorized user, the history of this card will become part of your credit history. That would give you a significant boost.

Control your emotions

When you are trying to repair your credit score, do not let yourself become depressed when you experience setbacks along the way. Your credit score might drop as you try to fix it. This does not mean that you did something wrong. Keep working at it. Your credit will eventually improve.

Review your credit reports

Order your credit reports when you get the chance. There are three different credit bureaus that you can get your report from. They are Experian, TransUnion, and Equifax. You are entitled to one free copy from each bureau, each year. Take the time to review each report for accuracy. If there is anything wrong, you should try to get it taken care of as soon as possible.

Pay off your debt

The next thing that you should is to pay off your debts. First, you need to cut back on your spending. Decide what things are needs and which things are wants. Second, negotiate with your creditors for lower monthly payment installments. Third, use the extra money to start paying off your debts. Fourth, come up with a side hustle that will generate more money. That money will help you pay the debts even quicker. When your debts are reduced, your credit score improves.

For more ways to get out of debt, especially if it’s a large amount, check out these articles.

The Strangest Reasons People Have Gone Into Debt
What You Should Do to Get Out of $20K Worth of Credit Card Debt
Three Immediate Actions to Reduce Debt

Have you had to repair your credit before?

Things You Can do to Become More Frugal

Posted on January 13, 2017 - 6:30 am by Jason Butler 1

frugal tips, becoming more frugal, frugality

It’s still early in the New Year. Hopefully, everyone has been working on their finances this year. If you’re still struggling with saving money, I have a few things that you can do to become more frugal. These are tips that anyone can do.

Cut your cable

Cutting cable is one of the easiest ways to help you become frugal. A lot of cable bills are over $100 per month. That is too much money to be paying for it. More people are cutting the cord each month as cheaper alternatives continue to present themselves. There are options like Netflix and Hulu. You can also stream sports online as well

Buy store brands

How many of you all have been to Walmart and seen the Great Value brand before? If no, it’s the Walmart brand. They sell a lot of different Great Value products. From my experiences, store brands are just as good as regular brands. Depending on what the item was I couldn’t even taste the difference. Store brands are also cheaper than the name brands too.

Go out less

By going out less, you can save a couple of hundred dollars each month. There are several things that you have to pay for when going out such as food, drinks, and parking. If you go out three times a week and spend $30 each time, that’s $90 a week and $360 per month. If you stop going out, you could save that extra $360 each month. Imagine what you could do with that extra money.

Use coupons

Using coupons is a very popular thing to do if you’re frugal. There are coupons for almost every item out there these days. It doesn’t make sense to pay full price for things anymore. There are several places where you can get coupons from such as the newspaper or online.

Cook more

It’s no secret that cooking is cheaper than going out. One way to become more frugal is to make your lunch and bring it to work with you every day. This is a practice that I’ve been doing for the last few years. I can say that I’ve saved at least a couple hundred dollars by doing this.

Work out at home

Canceling the gym membership and working out at home is another way to become more frugal. Gym memberships can be expensive. If you’re not going to the gym at least twice a week that membership could be considered a waste. You should cancel it and exercise at home. Working out at home can be very easy. You can grab some weights and a small mat from your local thrift store and start a workout plan. If weights aren’t your thing, you can look at hundreds of workout videos on YouTube.

Used car

The final thing on my list is to purchase a used car. New cars depreciate by a few hundred dollars once you leave the car lot. A good used car can be just as good as a new one. It is also much cheaper. Just make sure that you don’t by a lemon. That could cost you more money in the long run.

Learning How to Save Better

Posted on January 11, 2017 - 6:30 am by Jason Butler 2

saving money tips, budgeting, save better

There was a time in my life where I had nothing in my savings account. I was bad at budgeting my money and spent it all every month. I pretty much hit rock bottom and realized that things had to change. I started saving a few bucks from each paycheck, and things began to get better. If any of you Dinks are in this situation, I want you to realize that you can change your habits and start saving more money.

One of the hardest disciplines there is in the world today is learning how to save money. For many people, it is essential that they find ways to save. While many things can be done to reach their budget goals, learning how to do it better is always needed. Some things can help you accomplish your goals.

Monitor your spending

Monitor your spending habits for two months. This should give you a clear image of spending habits you might have. You will find out where you are most likely to succeed and likely to fail. I saw the good, the bad, and the ugly when I started monitoring my money. Problem areas will become evident. Make sure that you are honest in your assessment.

Separate essentials and non-essentials

The next thing that you need to do is separate your essentials from non-essentials. Realize that in tough economic times you might be going through, that you may have to go without certain things. Choices will have to be made between items that you usually wouldn’t even question buying. What will always help you make decisions is by honestly answering the question if it is essential or not?

What can be downgraded?

Ask what can be downgraded. If you are used to buying certain brands that are more expensive, ask yourself what the real benefit is in opting for the more expensive version. A lot of times the items are the same. It is rare that there is enough of a drop off in quality to warrant paying more for. You should do this for everything from cars to electronics to food. Also, treat stores in the same way. Is there really a benefit to shopping at Macy’s instead of shopping at TJ Maxx or Marshall’s?

Budget

Set up a budget. Break it down into simple categories and have it be something that is realistically attainable. Look at it, in the same way, one would a diet. In making a budget and creating a diet plan for yourself you are altering habits that may have been around for a long time. You may have to make sacrifices to reach your goals.

Give yourself room to play

This is vital. You should try to give yourself a little wiggle room so that you can buy the occasional treat. For dieters, many will find more success by rewarding them with things not on their list of foods to eat. In trying to meet your budget, you will find it easier to stick with if you allow yourself a little extra luxury item. Keep it within reason and don’t let it destroy what you worked so hard to accomplish.

Review your budget

Review your budget from time to time. Look at where you succeeded and where you didn’t. We are all human meaning that we all make mistakes from time to time. Find areas that you could do better in and lower the bar for yourself, each time making it more of a challenge.

When you learn how to save money, you will usually find that there are ways that you can do better. Turn your goal of saving money into a lifestyle. Keep seeking ways to improve your spending habits, and you will find long-term results that will have you in better shape in ant situation that comes along.

Tracking Your Finances in the New Year

Posted on January 9, 2017 - 6:30 am by Jason Butler

Hello, Dinks. With it being the New Year, this is the perfect time for you to take your finances seriously. Many people go into the New Year wanting to change things, but they seldom do so. This is the year that you can make that change happen. If your financial habits aren’t the best, they don’t have to stay that way. You can improve your finances by doing a few easy things.

Watch what you spend

The reason that a lot of people are in debt is because they spend without paying attention. A lot of people don’t have a budget. They swipe until their card doesn’t work anymore. That shouldn’t be anyone’s financial goal. That sounds more like a financial nightmare. Paying attention to how much money you spend will help you attain better finances. Below are three ways that you can track your finances.

Spreadsheet

The first thing that you can do is use a spreadsheet to track your finances. You can easily create one in Excel. Your spreadsheet will need to have information for money that you earn and spend. It should also have categories for things like rent, the mortgage, utilities, groceries, debt repayments and entertainment. There is no wrong way to create your spreadsheet. You just have to make sure that you remember to update it weekly.

Balance Register

A balance register is another good way for you to track your finances. It might be old school to some people, but it’s my favorite was to update my finances. I update it several times a week. In the past, I used to guess the amount of money that I had in my account. There were a few times when I spent money that I didn’t have. Overdraft charges are not good. It’s not fun having to pay that fee and get your account out of the negative. Using a register has helped me get better with my finances over the years. If you’re considering using a balance register, go to your bank or credit union and ask for a few. The teller will give you a few of them for free.

Online Sites

There are a lot of online sites that will help you with your finances. I use two of them. They are Mint and Personal Capital.

Mint

I’ve been using Mint for three years now. Hands down, it’s my favorite online budgeting tool. Mint allows you to link your financial accounts, including savings, checking, credit cards, loans, and bills to your profile. Once things and linked, you can see what you spend and where. You can also see income that you make as well. You can also set up goals that you want to achieve as well. For example, I created a goal for when I wanted to have my Bank of America credit card paid off. It helped track my progress for me. I’d recommend Mint to anyone.

Personal Capital

Personal Capital is similar to Mint. They focus a little more on tracking your investments. My only gripe with them is that my main checking account will not link to their site yet. Their website doesn’t pull up my credit union yet.

There are many ways that you can track your finances this year. Find one that you like using and make it happen.

What to Do if You Can’t Find a Full-Time Job

Posted on January 6, 2017 - 6:30 am by Jason Butler

What’s going on Dinks? I hope the New Year is starting off right for you. Hopefully, you’re enjoying the winter and making money at your job. Unfortunately, I know a few people who lost their jobs last year. They are currently looking for employment. There are a couple of things that you should do while you’re looking for that next job.

Lower your expenses

The first thing that you should do is lower your expenses. You have to start spending less. Reviewing your expenses will allow you to do that. One expense that you can eliminate or cut back during this time is going out to eat. The money that you were spending at the restaurants should now go towards your necessities. Buying your food at the store and cooking at home will save you some money.

Get a Part-Time Job

The next thing that you should do if you lose your full-time job is to get a part-time job. You want to generate some income as soon as possible. Getting a part-time job will do that for you. Some people look down on part-time jobs, but they shouldn’t. You never know what can happen in your life. Sometimes you have to do what you have to do. The part-time job is not forever. It is only temporary. A few years ago, I had to work a part-time job when I couldn’t find a full-time job. It helped me pay the bills. I only had to do that for six months.

Start a Side Hustle

The third thing that you should do is start a side hustle. Side hustles can be game changing. There are hundreds of them for you to choose from. Below are three that you can start this week.

Flip things on Craigslist

People will buy almost anything. If you have a lot of stuff in your house that you don’t need or that you aren’t using, you should try and sell some of it. It is very easy to sell things on Craigslist. Create a free login, take some pictures and list your item. Then wait for people to contact you. It’s really that easy.

Wash cars

The next side hustle that you can do is wash cars. With it being winter time, you should be able to get a lot of business. Many people dislike washing their car when it’s cold. If you don’t mind doing it, you can be making money sooner than later.

Yard Sale

The last unique side hustle is to have a yard sale. If you have a lot of things around your house, you might as well sell them. I had a semi-successful yard sale a few years ago. I stayed outside for a few hours and made almost a hundred dollars. It was easy money.

If you lose your job, it’s not the end of the world. You just have to focus on creating income and get your grind on. The three side hustles that are listed are just a few things that you can do to generate some income until you find a new full-time job.

6 Reasons You Might Need Life Insurance

Posted on January 4, 2017 - 6:30 am by Jason Butler

Good morning Dinks. I hope all is well. In today’s post, I will be discussing something that I’m sure most of you have thought about, life insurance. Some people have it while others don’t. Life insurance can be a lifesaver if you get the right coverage. Below are six reasons you might need life insurance.

The Cost of a Funeral

The first reason that you should get life insurance is to help offset the cost of funerals. I know a lot of people don’t like to think about funerals, but they are something that everyone should prepare for. They are not cheap by a long shot. The average funeral costs over $6600. A lot of individuals don’t just have an extra $6600 sitting around. The life insurance policy can help pay for your funeral and burial costs. It can be a final present to your family members.

It can protect your loved ones

Life insurance can protect your loved ones. It will help them out financially during their time of need. The life insurance policy could protect your spouse and children from financial problems if you pass away unexpectedly. That money can be used for a number of things.

Pay off estate taxes

The third reason that you should purchase a life insurance policy is that your family can use the money to pay off estate taxes. Those taxes could fluctuate depending on a person’s lifestyle. Estate taxes is something that your family may not have the money to pay for out of pocket. The insurance will take care of that for you. That would be one less thing for you to stress about.

Peace of mind

Another reason that you should get life insurance is that it provides a peace of mind. With life insurance, your family won’t have to worry how they are going to pay for your funeral and burial. Life insurance takes care of all that for them. Losing a family member is a stressful time. The fewer things that you have to worry about, the sooner the healing process can begin.

Things happen

Life is unpredictable. Good and bad things happen all the time. Some of the things that happen are outside of our control. Life insurance can help your family if the something bad does happen.

Provides a cash value

The sixth reason that you should consider life insurance is because it provides money when it is needed the most. During your time of need, the policy will pay the benefits to the beneficiary. Different plans pay out different amounts. Make sure that you do your research and pick the best one.

In review, the reasons to get life insurance are to help with the costs of funerals, it can protect your loved ones, it can pay off estate taxes, it gives you a piece of mind, it will be there for you if something happens, and it provides cash value. Life insurance is something that everyone should consider.

Do you have life insurance?

How to Get Your First Credit Card

Posted on January 2, 2017 - 6:30 am by Jason Butler 2

first credit card tips, getting your first credit card, first credit card advice

Hello, Dinks. If you have no credit history, how do you get a credit card? Do you remember getting your first credit card? I remember when I got mine. I was in college when I applied for it. Your first credit card marks your first experience into the world of adult finance and responsible lending. It’s a major step for anyone to take. Getting a credit card today can help set up your credit for future car loans and even mortgages. Today’s post will show you how to get your first credit card, even with zero previous credit history.

Source of income

The first thing that you need to do is have a source of income. It’s tough to get a credit card if you don’t have one. Credit card lenders see people who are trying to get access to credit but don’t have a way to repay it with suspicion. That would be suspicious to me as well. Even if you have a minimum wage job, that will help you lenders see that you are working.

Start with your bank

Most of us have an account with either a bank or a credit union. Those are the best places to start your credit card search at. Walk into your bank or credit union and ask to talk to a personal banker. Tell them that you are interested in applying for a credit card. The banker will go over several options and let you know which one is the best for you. If you’ve been banking there for a while and have a steady income, you have a very good chance of qualifying.

I got my first credit card when I still had an account with one of the leading banks. The process was very simple. I was able to get a credit card with a thousand dollar limit under an hour. Who knew that it would take me nine years to pay it off? That’s a story for another day, though.

Student card

Getting a student card is another option. If you are in college, this option is specifically for you. It’s quite easy to get a credit card as a student. There are many credit card companies out there that specialize in giving credit to students. If you are considering one, make sure that you read the credit card agreements very carefully. Sometimes lenders deliberately target college students. They do this because a lot of them are eager to get their first card.

Gas or department store card

Depending on your situation a gas or department store card may be your next option. Gas stations like BP or Citgo offer credit cards that are usually pretty easy to qualify for. The same thing goes for department stores like Macy’s and JCPenney’s. Don’t forget to read over the interest rates and terms carefully. Department store cards are easier to qualify for, but they’re also often more expensive.

Leverage your parent’s credit

If you’re a younger reader, this option may work for you. If you have trouble getting a credit card on your own, you can leverage your parent’s credit to help. There are a couple of ways for you to do this.

The first way is that you can have your parents co-sign on your credit card for you. This means that although you are responsible for paying back the credit card if you fail to, the responsibility shifts to your parents. I’m not a fan of co-signing anything. The second method is to add you as an authorized user to your parent’s credit card account. This will allow you to share in the credit history generated by that credit card.

8 Items You Can Sell to Make Money Today

Posted on December 30, 2016 - 6:30 am by Jason Butler 2

make money. extra cash tips, items you can sell

Good Morning Dinks. Can you believe that it’s the last Friday of the year? 2016 has come and gone. Some people had a great year, while others can’t wait to begin 2017. If you want to end 2016 with a bang and try to make a little more money, I have a post that features eight items that you can sell. Earning some extra money that you can share with your wife or husband is an excellent way to end the year. Keep reading to find out what the eight items are.

Different types of Services

The first thing that you can sell to make money is your services. Do you have a cleaning company? Are you great with Photoshop or Gimp? If the answer to those questions is yes, then you can be on your way to be getting paid. A lot of people need help with those things. You can be their savior.

Old Cell Phones

People like to buy old cell phones. Some people use them, while others buy them for their parts. Depending on the phone brand and model you could get over $100 for it. A good place to sell your old phone is on eBay. You can get hundreds of dollars for old Apple phones.

Old Furniture

Furniture is the next thing that you can sell to make money. People are always looking for different pieces, so the market is always there. Some people go to thrift stores or garage sales and purchase old furniture. They then fix the pieces up and sell them

Books

Books are another item that you can sell. Depending on the title, they can be sold for pretty good amounts. I’ve noticed that you make more money by selling books in groups or sets. Making money by selling books does take a little bit of research, though. You need to know what books are popular at the moment.

Shoes

Selling shoes can make you some decent money. Dress shoes and tennis shoes are two types that you can sell for decent prices. Brands that sell pretty good are Nike, Adidas, and New Balance. Before you sell them, you should check eBay. They have a sold listings feature where you can see how much similar types of shoes have sold for.

Video games

Selling old video games is the next thing on the list. People love their video games. I’m sure there is someone that will buy them from you. You can sell them on eBay or in Facebook groups.

Jewelry

Jewelry is another thing that you can sell to make money. Gold necklaces, chains, and rings will always sell for a decent amount. Besides selling your jewelry online, you can also pawn it. I’ve pawned jewelry in the past and got a decent sum of money for it.

Clothes

Clothes are the final item on the list. Certain name brands sell for a higher price than others. Pants, jackets and certain brands of shirts sell pretty well too. When selling, make sure that you list the correct sizes and measurements. If not, you may have to give people refunds.

8 Inexpensive Date Ideas

Posted on December 28, 2016 - 6:30 am by Jason Butler 1

inexpensive date ideas, frugal date ideas, affordable date ideas

Hello, everyone. Going on dates with your significant other can keep your relationship going well. It can be very expensive if you’re not careful, though. Many people are spending crazy amounts of money during dates even if they don’t have it. It’s helping them stay in debt. I’m sure that nobody who’s reading this today has done that. In today’s post, I will discuss eight inexpensive date options that should keep some money in your pocket.

Go for a hike

If you and your significant other are active, going for a hike would be a great inexpensive date. You ca do that at your local state park. The entrance fee shouldn’t cost too much. Many of the parks also have designated free days. A hike gives both partners time together in the great outdoors. You also get a good exercise walking the trail.

Happy Hours

It is five o’clock somewhere. Happy hours are a good place to have a cheap date. When you mention happy hour, you usually just think of cheap drinks and one or two appetizers. More and more restaurants are adding more food to their happy hour menus. Many places have a late afternoon or early evening happy hour and one during the late night usually after 10 pm. I’ve had a few nice dates at restaurants with happy hours.

Bookstores

The next cheap date option is going to the bookstore. There are hundreds of books that you can look through. You can also peruse the different sections in the bookstore or just stay near one. You can find books that interest you too.

Drive-In

If you have a drive-in movie theater near, you should definitely visit it. Drive-ins are not as popular as they once were, but they are an excellent date option. With a drive-in, you can usually see two movies for the price of one. Also, you can bring your own food with you. Most drive-ins have a good selection of movies to choose from.

Picnic

The next thing on the list is to have a picnic at a park. It’s easy and fun to do. You can cook your food at home or grab a few items from a restaurant. After that, you just have to grab a blanket and find a park. This would be a perfect date to do in the spring or the summer.

Be a tourist

Being a tourist in your own city is the next thing option on this list. If you live in a large city, you and your date can visit different parts every month. There may be new attractions opening such as new theaters or museums.

Festivals

The next inexpensive date idea is to attend festivals. Most cities have free or low-cost festivals throughout the year. Check your city’s local website to see what they have to offer. A lot of festivals happen in local parks, so I’m sure you will have a good time.

Go to the Beach

I love beaches. Not only are you near the ocean, but you also have the opportunity to have dates on the beach. You can quickly grab some food and enjoy a day on the beach. If I lived near a beach, I’d probably go there on dates multiple times each month.