Erin H, Author at Beating Broke

How to Find the Right Car That Won’t Break Your Budget

April 14, 2023 By Erin H Leave a Comment

Are you on the hunt for the perfect car? Before you start, it’s important to know your budget. If you start looking without a spending limit in mind, it’s easy to get overwhelmed and even anxious looking at all the market options. As soon as you put yourself in a price range, you can lower the number of cars you have to look at, instantly making the process easier. After that, there are other aspects to consider, like fuel efficiency, different types of vehicles, the features you want, and what you’ll be most comfortable in. Take a look at some of the specifics before heading out to begin your vehicle shopping experience!

Consider Fuel Efficiency

One way to ensure your new car won’t strain your bank account is by choosing one that’s fuel-efficient. According to Consumer Reports, a hybrid car will save you around $500 per year in fuel costs compared to one powered by gasoline. With increasing fuel prices, selecting a car with better efficiency is both environmentally friendly and cost-effective. Moreover, hybrid vehicles usually have a longer life expectancy. So, you won’t be back on the market looking for another car right away.

Explore Electric Vehicle Options

The popularity of electric vehicles or EVs has definitely increased in recent years. According to Policy Advice, there are over 5.6 million electric vehicles around the world. These cars offer many benefits, including reduced emissions and operating costs. Furthermore, many governments give incentives for purchasing EVs, which will lower your initial cost. If your situation allows for it, consider investing in an electric vehicle to save money on fuel and maintenance.

Think About Safety Features

While finding a car that fits your budget is important, you should never compromise on safety. For example, larger trucks are involved in less than 4% of all accidents. Look for vehicles with good crash test ratings and advanced features like blind-spot monitoring, lane departure warning, and automatic emergency braking. Spending money on a car with these added bonuses helps you avoid getting into unexpected accidents, which can get rather expensive.

Assess Your Needs

When searching for a car that won’t break the bank, it’s important to solidify what features are a must for you. First, consider the vehicle’s main purpose. Are you going to be commuting to work, taking it on family outings, or exploring on weekend road trips? Then, list the features you need and those you can probably live without.

For example, prioritize fuel efficiency and a comfortable interior if you have a long drive to and from work. On the other hand, if you need a car for family trips, focus on the above-mentioned safety features and lots of storage space. Knowing what you need, you’ll be better equipped to find one that meets your requirements.

Shop Around and Compare Prices

Once you clearly understand how much money you can spend and the features you’re expecting, it’s time to start shopping! Visit several dealerships, go out for test drives, and compare prices. Additionally, research online to find the best deals and see if there are any promotions available. Finally, don’t hesitate to negotiate with dealerships and ask for a better price. Many will haggle with you and you can end up saving thousands.

Buying a new car is supposed to be an exciting experience. So, don’t let the stress of getting the perfect one keep you from enjoying it. The best way to do that is by preparing ahead of time. Know your budget, understand what you’re looking for and what you want, and take into consideration the costs you may incur down the road. In the end, just make sure that you’re comfortable with your new ride and that you can afford it. Then, happy cruising!

Can You Have Two Car Loans At Once?

These Budget-Friendly DIY Ideas Will Transform Your Master Bathroom

April 10, 2023 By Erin H Leave a Comment

Your master bathroom should be one of the most luxurious parts of your home. It’s where you go to prepare for your day in the morning and where you unwind at night. However, bathrooms become dated over time, and renovations can be very costly. Fortunately, there are many budget-friendly ways to transform your space.

Transforming Your Space with a Cost-Saving Strategy

If you’re sick of your bathroom, you are certainly not alone. According to Statista, in 2020, 33% of homeowners who renovated their master bathroom did so because they couldn’t stand the way it looked anymore. You might have installed a brand new bathtub or shower, and at the time, you couldn’t wait to bathe, but now it shows signs of wear and tear.

Trends come and go, and what looked stylish 10 years ago will seem dated today. That doesn’t mean you shouldn’t take inspiration from modern features and current color schemes, but consider that you’re about to devote a lot of time to creating your dream space.

Classic Versus Trendy

A common mistake people make is not separating classic versus trendy styles. Categorize the features in your bathroom that you know are popular right now and the ones you’ve seen in houses throughout the years. If you’re worried about your budget, the more classic styles you follow, the fewer long-term maintenance costs you’ll have.

Create a Blueprint

Before you begin, put a plan in place. It might sound obvious, but once you start building the room, overdoing the space might be tempting. Since you’re on a budget, you’ll need to get creative. Take some time to look at pictures, even if they’re of bathrooms that you could never afford to install as they are, and use that as inspiration for your blueprint.

Start with the basics. If you want to create a more peaceful room, then your instinct might be to pick a color scheme and paint the walls. Now, choosing the right shade will certainly optimize your space, but choosing the right lighting is crucial.

Choosing the Right Lighting

Bright lights can be too strong, and dim lights can be depressing. Overhead ambient lighting should be between 4,000-8,000 lumens. If you’re worried about it being too bright, consider adding a dimmer to tone it down. The lighting around your mirror should be at least 1,700 lumens. You can get creative when you pick the actual light fixtures; they don’t have to be expensive. Many of your local hardware stores will have economical options and a plethora of places to find what you’re looking for online.

Wall and Cabinet Color Schemes

People often use colorful paint on their walls and neutrals for their cabinets. Soft colors like lavender, light yellow, or sky blue will make the room more tranquil. Using a color like navy blue, a dark accent wall can also make it feel bigger. Think about the shades that make you feel the most peaceful, and swatch the walls before you begin, as sometimes the color looks different in the can.

According to a survey, almost 33% of homeowners prefer white finishes for their bathroom cabinets. It gives them a fresh and clean look and guarantees that they will match no matter what color you paint your walls. Even better, white paint costs a lot less than brand-new cabinets.

Decorative Pieces and Keeping Your Space Manageable

Choose some decorative pieces that enhance the space but keep it manageable. There’s a fine line between the two, but you don’t want to go to all this effort for the room to be cluttered. Choose some accent towels, a picture or two for the walls, and some candles.

Home renovations are expensive, but being on a budget shouldn’t stop you from creating your dream space. With some creativity and research, you’ll have a tranquil and inviting bathroom while expressing your style.

6 Tips for Surviving Your 20s When You’re Broke

April 5, 2023 By Erin H Leave a Comment

Hello, fellow broke 20-somethings! Are you sick of living on instant noodles and dreaming of the day you can afford avocado toast or a five-star meal? Well, worry not. This piece gives you some tips on how to get through your 20s without going bankrupt. So get your piggy bank, and let’s dive in!

1. Have a Budget

A budget may seem obvious, but making one is the best way to manage your money after going broke. Find out how much money you receive each month and where it needs to go. Ensure you have enough for basic needs like rent, utilities, and food before spending on anything else.

Once you have a budget, check your spending carefully to see where to cut back. For example, do you truly require that subscription service to a streaming app you rarely use? Canceling unnecessary expenses can save you a lot of money over time.

2. Give Your Savings Accounts Fun Names

Instead of having a savings account that says ‘Savings Account #100’ when you log in to your bank account, you might want to change the name to something more specific. Maybe it could say, ‘I’m quitting my job in January 2024’ or ‘Going to Maldives in May 2024.’ The more specific you are, the less likely you are to keep taking a little money off the top every time your checking account gets a little low.

3. Be Mindful of Expensive Cosmetic Procedures

Before deciding to get a cosmetic procedure, it’s essential to do your research and fully understand the costs. Don’t just rely on what the plastic surgeon or clinic tells you. Research online and talk to people with similar procedures to understand the possible costs.

Research shows that about 11.36 million plastic surgery procedures were done worldwide in 2019. It indicates that more people know these procedures, so shop around for financing options that are more accessible. Getting caught up in wanting to look better is easy, but remember, stay moderate and spend what you can afford.

4. Avoid Unscrupulous Deals

You might fall victim to embezzlement if you work a white-collar job. Embezzlement is one type of white-collar crime. In this crime, a person mishandles money they are in charge of and uses it in a way that is not allowed. It’s wise to implement solid financial controls like performing regular audits or reviewing financial records to avoid the devastation of embezzlement. Promote a culture of transparency and accountability and save yourself from going broke

5. Be Responsible and Invest in Yourself

A survey says drivers between the ages of 25 and 34 are most likely to be drunk behind the wheel. However, you don’t have to be among them. Choose a responsible life and avoid situations that could lead to such an occurrence. Instead, focus on investing in yourself, like improving your skills or getting an education or training that will help you earn more.

6. Have an Insurance Cover

Insurance can keep you from going bankrupt in your 20s by protecting you from sudden financial losses caused by accidents or things you can’t control. For instance, if you suffer from a severe illness or injury, health insurance can assist in paying your hospital bills. You might have to pay these expenses out of cash if you don’t have health insurance, which can be costly and cause financial strain.

Being optimistic and focused on your goals will help you get through the rough financial times that often plague your 20s. Set yourself up for long-term financial success. Remember, you can make the most of your situation and set yourself up for long-term success with the right attitude and good money habits.