Beating Broke

Personal Finance from the Broke Perspective

Special Things You Can Do For Your Spouse During a Difficult Time

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Life has a way of throwing curveballs when you least expect it. What you do during difficult times determines whether you’ll come out of it better or bitter. Things could get even tighter when you have a loved one going through a hard time. Below are three special things you can do for your spouse during a difficult time.

1. Check on Them

Everybody needs a shoulder to lean on, especially during challenging times. Supporting a loved one isn’t a one-time thing. It’s a lifestyle that involves being able to intentionally check in on them whenever you notice a behavior change.

Your “intrusion” may or may not be appreciated initially, depending on past similar experiences or personality differences. However, it’s essential to show genuine concern even when you can’t fathom the gravity of the matter. When you notice something is off, perhaps because your spouse is irritable, angry, isolated, feeling down, or not being their usual self, a simple “Are you okay?” can be a good starting point.

However, this only works if your spouse is more forthcoming with their emotions. It’s not a one-card-fits-all, so if your spouse is not forthcoming with their feelings, find ways of reaching out to them. Try to ease the tension and cheer up your spouse. Reach out to them according to their language of love.

For instance, if your wife loves flowers, go out of your way and buy them to reassure her you are in her corner and that whatever she is fighting, you can fight it together as a team. Win them over, show them appreciation, and you don’t have to wait for special occasions. According to BIGresearch, on Mother’s Day, $1.9 billion worth of flowers is purchased. All these attempts should be targeted at getting to know the source of the problem.

2. Create a Conducive Environment for Dialog

Make yourself a safe space for your partner to pour out their hearts and expose their insecurities without fear of victimization. Be a pillar of strength that your spouse can lean on depending on how they react to stress. Find ways of getting them to share their concerns. Listen and pay attention to both their verbal and non-verbal communication. Be sure to stay within your mandate.

Try not to make the problem about you. Be empathetic to your spouse without losing focus and becoming part of the problem. Help them be part of the solution by appealing to their strength. Remind them of their past victories without belittling their current situation. If your partner needs space, let them know it’s okay and assure them you’re available whenever they need you.

The average American spends about 90% of their life indoors, according to the American Lung Association. Create a comfortable, conducive environment in your home for your spouse. Don’t be overly critical. Be sensitive; listen more and measure your words to avoid jeopardizing a delicate situation. Encourage them to speak more, and if it’s beyond your competence, suggest a suitable alternative. One of the best gifts you can give your spouse is your time.

3. Be Supportive

Small, sweet gestures can be the much-needed break your spouse needs as they take care of their mental health. For example, if your spouse is an automobile enthusiast, it’s healthy to grant them some me-time to work on their car as a stress reliever. Such gestures should be highly welcome since they allow one to blow off steam non-destructively.

Allowing your spouse to engage in a DIY project can be pretty therapeutic. They may choose to paint a room or rearrange furniture. The global market for automotive paint is expected to reach $23,244 million by 2027, up from $18,023.8 million in 2021, according to Astute Analytica.

Take care of your mental health before attempting to help someone. Your well-being is critical in helping your spouse through a difficult time. You need to think objectively, even when your spouse sees you as a villain, without getting offended, which is easier said than done.

How Being a Smart Driver Can Help You Control Your Finances

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Side view of an elderly man in glasses driving a car on a sunny summer day

If you find yourself struggling with debt and financial uncertainty, taking control of your finances may feel unobtainable. However, the feelings of discomfort shouldn’t make it feel unessential. One often overlooked aspect of regaining financial stability is becoming a competent and responsible driver. Your choices behind the wheel can have a notable impact on your budget. Consider being a smart driver to gain control of your financial situation.

Lower Insurance Costs

When you’re in a financially precarious situation, every dollar counts. One of the most direct ways to save money is with a reduction of your insurance costs. Responsible driving behavior includes obeying traffic laws and avoiding accidents. If you want to keep your insurance premiums low, you should maintain a clean driving record. The less you spend on your insurance means you have more money to budget.

Focus on Fuel Efficiency and Savings

Fuel expenses are a hefty chunk of your monthly budget. Being a smart driver includes adopting fuel-efficient habits. You may be surprised to find that keeping your tires properly inflated keeps your vehicle fuel-efficient. Driving at a moderate speed and keeping your car maintained also help you save at the gas pump.

Another consideration is adding a turbocharger, which can save a significant amount on fuel. According to AutoDeal, turbochargers can magnify the efficiency capabilities of an internal combustion engine by anywhere from 10% to 30%. Talk to your mechanic about installing a turbocharger in your vehicle to learn more about the costs associated with this service.

Minimize Repair Expenses

Regular maintenance and responsible driving can reduce the likelihood of costly repairs. Expensive repairs can add up quickly and become a significant financial burden for someone requiring control of their finances. If you are looking to extend the life of your car, seek assistance whenever an issue arises with your vehicle.

Reduce Risk

Motor vehicle accidents pose a risk to your physical health and financial stability. According to Just Great Lawyers, there are more than 2.3 million people sent to the hospital from motor vehicle-related injuries each year. Responsible driving can greatly reduce the risk of accidents. To reduce the chances of high medical bills, avoid distractions and stay focused on the road while driving.

Choose Affordable Transportation

If you’re facing financial difficulties, reconsidering your methods of transportation may make all the difference. Owning and maintaining a car can be cost prohibitive. If possible, explore substitute options like carpooling and public transit. These services reduce the financial burden of vehicle ownership.

Be cautious when looking for financial help through a loan. In challenging financial times, some individuals turn to high-risk financial options like car title loans. These loans require your vehicle as collateral to borrow money. According to BankRate, they often come with exorbitant interest rates, as high as 25% to 50%. Take the time to consider all of your options before taking on a loan such as this to avoid falling further into debt.

Smart Budgeting

Creating a budget is primary to reclaiming control of your finances. Being an intelligent driver should be integrated into your budgeting efforts. Allocate a specific portion of your budget for vehicle-related expenses. You want to be sure to include insurance, maintenance, and potential repairs. When you’re able to stay within the parameters of your budget, you can manage your finances more effectively.

Being a competent driver means making responsible choices that align with your financial goals. When you give your attention to actions related to safety and fuel efficiency, you can reduce your expenses. These aspects of being a smart driver contribute to your financial well-being. Even when faced with challenging condition, you can recover control of your finances.

Here’s What to Know Before Investing in the Marijuana Industry

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The marijuana industry is currently one of the most promising sectors for investment. As legalization spreads across states and countries, it’s safe to say the green rush is on, and the potential for profits is pretty high! Thinking about investing in this direction? Good call! Get your finances in order and go for it. But before you light the investment fuse and jump into this budding industry (pun-definitely- intended) there are some key things you need to know. We’ll roll through what you need to know before investing in the marijuana industry to save you from having to learn through experience.

The Industry is Largely Divided by Two

The marijuana industry isn’t uniform and is broadly divided into two categories; medical marijuana, and recreational marijuana. Medical marijuana, usually extracted from non-psychotic compounds like CBD has gained significant traction in the past few years for its potential in treating a wide range of ailments, from chronic pain and epilepsy, to anxiety and even cancer symptoms. As a result, this section of the industry offers promising opportunities especially as more states and countries recognize the therapeutic benefits of medical weed, and continue to legalize its use. 67% of tree trimmers are more likely to work for private companies than publicly owned companies. This may be similar for marijuana growers and trimmers.

The other half of the marijuana industry is where the fun and profit merge. It’s the “good times” side of the industry, focused on providing consumers with a legal and enjoyable way to partake. On average recreational marijuana products contain about 10% THC since a person is considered to be under marijuana influence if their blood discloses about 5ng THC per millimeter.

Given its increasing popularity, the recreational marijuana market is currently booming in states where it’s legal with entrepreneurs capitalizing on everything from gourmet edibles to cannabis-infused beverages. Investing in this end of the market offers the advantage of a diverse array of products and services you can leverage for substantial profits.

There are Multiple Investment Strategies You Can Take

While the industry is largely divided into two, there are multiple avenues for investment catering to different preferences. If you have a green thumb and want to take a hands-on investment approach, consider marijuana cultivation and retail. As the demand for quality cannabis soars, there will always be room for skilled growers and innovative retail concepts that you can maximize to make money.

Have no passion for horticulture but still want to take a hands-on approach? Ancillary products and services are a good option. You may offer packaging, technology, security, and compliance solutions. As the industry grows, these supporting roles will become even more critical, and profitable.

Prefer a hands-off investing strategy? Consider cannabis stocks. There are now reputable companies that have established themselves in the cannabis sector, offering potential investors like you a piece of the green pie without ever touching a plant. If you choose this approach, invest in different marijuana companies such as equipment, pharma, and consumer products to diversify your portfolio enhancing your profitability while reducing risk. According to Waterproof Magazine, liquid-applied membranes account for 67% of all vertically-applied waterproofing products. Consider investing in waterproof packaging!

If stocks aren’t your cup of tea, you’ll be glad to know there are now cannabis ETFs. These funds typically include various marijuana-related stocks, offering investors a diversified way to venture into the marijuana industry.

The Marijuana Industry Boasts Immense Potential

As an industry still in its infancy, the marijuana industry boasts immense profitability potential. More states and countries are joining in the revolution, leaving plenty of room for innovation, growth, and profits. Additionally, regulatory frameworks are evolving in favor of the industry, and the stigma once associated with the plant is slowly ebbing away. The result? More opportunities for investment and innovation; so don’t shy away from joining in.

The marijuana industry is flourishing like a well-tended plant, and your investments can potentially bloom. However, it’s not without its complexities. From medical and recreational delights to hands-on and off-investment options, there are choices to be made, each with positives, and risks. So, as you navigate this budding sector, knowledge will always be your greatest asset. The above facts just tip off the iceberg, so, research thoroughly, and consider getting professional advice on your finances and business to ensure your investments flourish in this thriving market.