Erin, Author at Dinks Finance

Easy Ways to Save Money and The Earth

Posted on September 19, 2022 - 9:49 am by Erin

It’s important for everyone to consider the implications that their actions have on the state of the environment and to adjust them accordingly. Sometimes, doing this can also help with your finances. This is because you may lower your energy demands and thus pay less money. Read on to see some easy ways in which you can save money and the earth simultaneously, giving your best to both.

Maintain Your Appliances

By keeping your appliances running efficiently, you can save on the energy that you consume at home. This can be done by either doing it yourself or calling a technician to service them on a regular basis. When you do this, you will also inadvertently lengthen their lifespan and may keep them until the time comes when you can comfortably afford an upgrade. Spending a bit of cash to maintain an item is typically much cheaper than repairing or replacing it. For instance, you can save between $5,000 and $10,000 every year on energy costs by cleaning your heat exchanger regularly.

Check Your Plumbing

Your plumbing should be in good shape, with no leaks or issues that could lead to your paying for more water than you’re actually using. That said, perform a visual inspection of your pipes to see if there are any leaks and other issues that need to be fixed. If you’ve been hearing strange sounds coming from the pipes, notice a foul smell emanating from the drains, or notice slow-moving drains, you need to call a plumber immediately. They will look at your plumbing and make sure that the problem has been resolved. By staying on top of any minor plumbing problems you encounter, you can avoid costly repairs that may only become more expensive down the line. A leaky faucet is bad for both your wallet and the earth.

Buy an Electric Vehicle

If you don’t already drive an electric vehicle, this is your cue to buy one. You can help save the environment by reducing the emissions your vehicle produces. You will also spend less money running it and buying it in some instances. For example, there’s a federal incentive program offered by the United States Department of Energy. It gives up to $7,500 in federal tax credits to people buying an electric vehicle. For some people, this may be an attractive enough offer to ditch the gas-guzzling vehicles they currently use.

Recycle and Reuse

Recycling and reusing whenever you can is another way in which you can save your money and the environment as well. This is because you not only keep items from ending up in the landfill and fuelling a growing problem, but you also end up needing to buy fewer items. You can upcycle things like old furniture by using them in a different room in your home or giving them to someone in need. You can also turn old t-shirts into rugs or bedding for a beloved pet. Over time, you may realize that you need to buy less in order to maintain your lifestyle. As it gets easier for you to do this, you will be able to scale up your efforts even more and make a bigger difference.

Install New Windows

Finally, if your home’s windows are the same ones it has had for at least a decade, you should consider upgrading them. You can save up to $465 on energy costs when you install new windows for your home. That said, shop around for energy-saving windows such as double-pane windows. These will insulate your home a lot better than single-pane windows, allowing you to spend less on heating and cooling. If you have had your windows changed recently but still feel as though they’re letting drafts into your home, you should check to see if the weather-stripping is intact. If it’s missing anywhere, replace it immediately and caulk any gaps left in your window and door frames.

With these simple methods, you can save money and the earth as well, hopefully leaving it in better shape for future generations. Make efforts consistently and you will notice that it gets easier to maintain good habits the longer you do them.

Simple Lifestyle Changes That Can Multiply Your Money

Posted on September 8, 2022 - 2:43 am by Erin

Small lifestyle changes can greatly impact savings and multiply your money. The good thing is that the changes must not be drastic and don’t have to compromise your lifestyle. Adjusting daily habits, reducing monthly bills, and smart investing can add up quickly and improve your finances. Below are three simple but effective lifestyle changes that can multiply your money.

Increase Your Income

Increasing your income is an excellent way to multiply your money. You can adjust your lifestyle to accommodate income-generating activities like a second or part-time job. You can also use your hobby to make surplus money. Consider freelance writing, blogging, cooking, painting, pet sitting, and gardening.

Returning to school can also boost your income considerably by increasing your competitiveness in the job market. Improved credentials mean better jobs and more pay. The secret to increasing your income is thinking through all of your possibilities and choosing the best one. Some income-generating activities may be more feasible depending on your schedule and personal preference.

Increasing income goes hand in hand with reducing expenses. You don’t have to be a finance guru to know that you won’t save money if your expenses grow with your income. Simple habits to cut expenditures include eliminating impulse buying, shopping in bulk, eating at home, getting rid of unnecessary expenses, and opting for cheaper housing.

An excellent way to keep expenses down is to create a budget. A budget gives you a solid financial footing today and in the future. It also tracks your spending habits by shedding light on where your money goes. This way, you can make adjustments to reduce unnecessary expenses and optimize spending.

Reduce Energy Consumption

Research reveals that the average US household spends $2,000 on energy bills per year, with heating and cooling systems accounting for half of this amount. Luckily, it’s possible to lower your utility bills and reduce the money spent on gas, water, and electricity. You need to adopt energy-saving habits and invest in energy-efficient appliances.

Good energy-saving habits include turning off lights when not in use, taking shorter showers, using natural lighting, unplugging unused electronics, and fixing leaky faucets and appliances. Investing in energy-efficient appliances like showerheads, refrigerators, ACs, and dishwashers can reduce your electricity bill significantly and save you money.

Upgrades around your home can go a long way to saving money on utilities. Drafty windows, for example, overload your heating and cooling systems by leaking air, thus increasing energy costs. Replacing these windows and investing in insulation is a good energy-saving measure. You can expect to lower your energy bills by up to $501 annually by replacing single-pane windows with energy-efficient ones.

Invest Wisely

It’s not wise to discuss lifestyle changes to multiply your money without including investing. Investments allow you to build wealth, meet financial goals, stay ahead of inflation, and secure your future. Also, it keeps you in control of your finances for greater success and stability. Acquiring assets like real estate, stocks, bonds, and mutual funds is a smart way to make your money work for you.

It’s important to note that successful investing is not a habit that can be done in a day, but developed over time. Start with a financial plan. It offers the foundation for investment success by helping you align your goals to investment opportunities. Also, you create a game plan to achieve your investment objectives and goals.

Real estate is an excellent investment because it generates ongoing passive income, creates wealth, and increases value over time. It offers numerous investment options, ranging from commercial real estate to raw land, REITs, and residential real estate. You can opt for property management to avoid the hassle of dealing with real estate. In fact, the property management industry is growing at an astounding rate, recording revenue of $88.4 billion in 2020.

In the current uncertain world, adjusting your life to meet financial goals and objectives is increasingly important. The lifestyle changes above can help you accomplish saving goals and multiply money. They can make a huge difference in your financial health and propel you to financial freedom.

Planning a Trip to Renew Your Vows? Consider These Budgeting Tips

Posted on July 21, 2022 - 6:26 am by Erin

Renewing vows can be a very special occasion for any couple, especially if done right. If you want to make it even more special by planning a trip for it, you may be wondering if you can do it on a budget. Read on to see some helpful budgeting tips that can help you have a beautiful trip and renew your vows.

Look for Reasonably Priced Accommodation

Take time to look for accommodation that’s not going to break the bank but that will be comfortable nonetheless. This is especially true if you’re traveling as a group and have children and seniors with you. Rather than book expensive individual units, for example, look for larger spaces that can host all of you. If you can get a package with food as well, this can help you save some money and considerable hassle. With the average homeowner in America spending about $1,105 each year on house maintenance, you don’t want to use more money than you have to spare at a resort or other place and leave your own home unattended.

Travel Light

Pack early enough so that you can pack light and take fewer things with you. This can save you the money you would have to pay for extra baggage at airports and more. It will also make the travel experience a lot more fun when you don’t have to lug around several large bags. Set a limit on the number of items that each person s allowed to have because you will only be away for a little while anyway. Fewer bags also mean you will have a lower risk of misplacing items due to the hassle of keeping tabs on what you have.

Only Replace the Rings if Necessary

Remember that you don’t have to get brand-new items for your vow renewal ceremony. Your rings, for example, don’t have to be different from what you currently have unless you have serious problems with them. If they are too large, which you can tell if they more around 360 degrees easily whenever you move your hands and you don’t have overly large knuckles, you could simply have them resized. Doing this will save you from buying other rings, which are generally expensive and not the best financial choice. The fact that this is a repeat expenditure will make it a cost that you could have avoided had you tried to do so.

Shop for Deals

Another way to keep a leash on your finance expenditure is to shop for deals rather than just pay for the first item you come across. From items of clothing that you may need to buy to food and more, consider everything that you spend on an opportunity to save. Use price-comparison applications to find out if there’s a cheaper alternative that meets the purpose you intend and takes these options to make your vow renewal trip more budget-friendly.

Consider Affordable Transport Options

Transport is yet another area in which you can make savings during your vow renewal ceremony. Unless you cannot do so, take advantage of public transportation throughout your trip. Don’t splurge on fancy rides during the trip as they may be expensive without adding anything to the event. Limousine drivers, who average approximately 105 trips each week, would be more expensive to hire alongside the limousine than regular drivers with average vehicles would be. Make the right call as far as your transportation goes and this may be one great way to save.

Follow these tips to have a budget-friendly vow renewal trip and you will be happy that you did. This is because you will go back home with no guilt of having spent more than you should have on your trip and life will be the better for it.

Tips for Finding a Dentist Online

Posted on April 5, 2022 - 10:21 am by Erin

Having a good dentist on your side can help you maintain the best oral health possible, so it’s important to know how you can go about finding one. Use the tips outlined below to help you do this fast and effectively, so you get the very best out of every visit you pay them.

Make Sure Their Website is Legitimate

Because most dental websites can be completed in 90 days, it’s important to check the integrity of any dental website you visit. If it says that it’s under construction for longer than this or you always encounter issues when you try to access it, this could be a sign that it’s not legitimate. Steer clear of websites that offer you a poor experience as this may be a red flag, serving as a preview of what the actual practice will be like.

Browse Your Dental Insurance Network

Another easy way to find a good dentist is to go over your dental insurance network. You will find listed all the dentists that are covered by the insurance you use in this database. An obvious advantage of finding a dentist in this way is that you will know that they accept your insurance and it won’t be a matter of guesswork whether you will be covered or not. You will have an easy time keeping a tab on your finance, making this an efficient and advantageous way to get affordable dental care. If you find one that stands out to you, you can proceed to vet them thoroughly based on other details and make sure that they will be competent and provide good oral health care to you.

Read Their Reviews

It’s important to read any reviews that a dentist you want to work with has online before you make the decision to work with them. With 87% of consumers saying that they read the online reviews for local businesses in 2020, which was an increase of 81% since 2019, it’s clear that many people understand the importance that reviews have. If there are more neutral or generic-sounding reviews than there are positive ones, this may be a red flag and a sign to look out for. Only entrust your oral health to someone who has a solid track record and has other people vouching for them.

Go Through Your Dental Society’s Database

Another great way in which you can find a good dentist to work with is to find a dental society that you feel has good standards and practices, then go over their list of dentists. Some of the societies available include AGD, ADA, AADSM, and others, and, likewise, using your dental insurance to find a dentist you want to work with, this method will make it easy for you to know that you’re getting at least one thing right. From this point, you can proceed to check if the ones you settle for tick other boxes so you can be confident that you will get the best treatment.

Check With People in Your Social Circles

Finally, reach out to the people in your social networks, asking them if they know of any good dental health care providers. With over one out of four or 26% of adults in America suffering from untreated tooth decay, you can be sure that you will find one or a few people who know a good dentist. Talk to them on the social media platforms you can access and find out if they can point you towards a good dentist and you will be making good use of these platforms.

These tips will enable you to find a good dentist online, and you can then proceed to the step of physically visiting their offices. Here, you will finalize whether they will be good for you or not.

Cutting Back on Luxuries to Save Money

Posted on March 7, 2022 - 2:38 am by Erin

Are you struggling to get your financial health in great shape but just can’t seem to balance your budget? Then, there’s a chance you can eliminate some unnecessary luxuries from your financial planning. While the following things are all nice to have and may improve your life, you may find your life is a little bit better if you avoid them until you get your financial health back on track.

Minimizing Renovation Needs

You want to improve your kitchen or other elements of your home, which is understandable. However, a typical kitchen remodeling costs around $14,000 as of 2018. When you’re struggling financially, you simply can’t afford that kind of expense. As a result, it is essential to either cut out your renovations or focus on smaller steps and create a modular upgrade that makes your home attractive.

Avoiding Unnecessary Expenses

Spending money on things like collectibles and hobby items is not a great idea when you’re struggling financially. For example, the online jewelry and watch market hit $7.6 billion in 2021 in the US alone. You can save yourself hundreds and even thousands of dollars a year by avoiding these unnecessary luxuries. That doesn’t mean you can’t spoil yourself occasionally but do so much less frequently.

Cutting Back on Dining Out

Dining out is not only unhealthy but very expensive. Even if you’re dining out alone, you’re spending between $15 to $20 per meal. With a family, you might pay close to $100, especially if you go out for other events after. Just think of this fact: people in Arizona spend an average of $2,795 yearly when dining out. That number is typical for the rest of the nation and is money you’ll never get back.

Limiting Your Cell Service

Lots of people get the most expensive cell phone service simply because they don’t want to worry about data limitations and text restrictions. However, it is possible to downgrade your services and save yourself money. For example, cutting out international calling might save you $20 or more per month, which is nearly $300 every year. Likewise, dropping unlimited texting can save you a similar amount every year.

Eliminating Your Cable

The average cable bill is about $217 per month or $2,609 every year. That kind of cost is enormous, mainly since so many inexpensive streaming options are available today. People can pay $5 to $10 per month for streaming services or even $80 for some online TV subscriptions. Others may switch entirely to free online television, which, while limited, still has plenty of unique entertainment options.

Watching Movies at Home

Going out to the movies is not a wise decision when trying to eliminate luxuries. Finance experts will tell you that spending more than $20 to $40 per month is not uncommon when going to the theater. When adding multiple people, you could be spending hundreds of dollars a year on movies. Modern streaming services often provide release-day streaming options for a fraction of this price.

Stopping Vacation Plans

While everyone deserves a break from their daily life, it might be hard to plan your traditional vacation when balancing your budget. That doesn’t mean you can’t do something fun. However, instead of flying to Mexico and enjoying the sun, you can rent a small cabin or visit a family cabin and pay a fraction of what you would for these costs usually. Also: cook at home on vacation instead of going out to save even more cash.

These simple finance tips should help you get your budget back in line and minimize unnecessary spending. By temporarily cutting back on your luxuries, you can funnel your savings into paying off your debts and handling other essential costs. Then, once you have paid off your debts, you can move to saving your cash and spending a little less on luxuries to avoid further financial issues.

How to Financially Care for an Aging Loved One

Posted on March 1, 2022 - 8:02 am by Erin

In a perfect world, finance plans are always in place. Unfortunately, it is not a perfect world, and you may have to step in and help your senior loved one with finance matters. Seniors are especially vulnerable when it comes to finance scams. They often have not planned far enough ahead and need assistance managing their finances. These tips will help you to financially care for your aging loved one.

You Are Not Alone

Many people are finding themselves in a position where they need to step up and take control of a senior loved one finance management and more. According to a recent study by the American Medical Colleges Physician Shortage Report, our population is rapidly aging. It is expected from 2018 through 2033 the US population will grow from 327 million to 361 million. That is a 10.4% increase in the population, and a big sector of that population growth will be people 65 and over.

In other words, in the next coming decades, more people than ever will need to know how to financially prepare and manage financial situations for their aging loved ones. It is estimated today that 21 million households take responsibility for financial management for an elderly relative.

Protection is The First Step

One of the first things anyone should do when they are helping their senior loved one to manage financial planning, budgeting, and other financial matters is to make sure everyone is protected. There are legal instruments that can be put in place that can help you to manage finances for your senior loved one.

There are attorneys that specialize in elder law who can help. Typically, you will have to pay a flat fee to the attorney before they get started. It is strongly suggested that you withhold 10%-20% of the fee just in case the attorney does not perform as expected.

The attorney can structure documents that will help to protect you, your senior loved one, and other family members while you manage financial needs for your loved one. The attorney can help your aging relative to get their documents in order to ensure that if they fall ill and cannot make their own decisions, someone else can. The attorney can also provide you and your loved one with other documents like limited Power of Attorney, so you can manage banking needs, property sales, motor vehicle registration, and more.

Having these protections in place is important if you are going to oversee managing financial transactions, paying bills, and other financial matters. It is important that the right legal documents are in place.

Know The Elder Laws

There are special laws that protect seniors but there are typically caveats to those laws. For example, claims of elder abuse in a nursing home have to be filed before a three-year period has lapsed. There is a statute of limitations. Study up on Medicare laws and how Medicare insurance works. It is important that you have a good understanding of the laws that affect seniors.

Open and Frank Discussions

It can be very uncomfortable for an adult child to speak to his parents or parents about the parent’s financial standing. It can feel intrusive for all parties, but it is a conversation that must be had. Understanding how a loved one plans on having the finance that they need to live after retirement is important. There are other topics that also need to be discussed including:

- Insurance. Health insurance, life insurance, long term care insurance should all be discussed.

- Bank accounts, investments, and other finance instruments.

What your senior loved one envisions for their future.

There is one other thing you may want to discuss, which is going to be very hard. If you are going to take financial responsibility for your senior loved one, will you be compensated for it in the will? For example, you have a brother and a sister that cannot financially contribute. You take on the expenses. Will you be reimbursed in the future? It’s hard to ask that question, but being upfront, honest, and frank is important to avoid resentment. Of course, if you do not mind, then you do not have to ask.

The best way to manage finance for a senior loved one is to have a plan and know exactly what you are getting into. Talk about it, even if it is uncomfortable, then formulate a plan.

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