Search Results for: budget

Who Says Second-Hand Fashion Can’t Be Glamorous?

May 21, 2021 By Justin Weinger Leave a Comment

Historically speaking, quality clothing has never come cheap. Believe it or not, but when adjusted for inflation, today’s clothing prices are significantly less than what they were in the past.

With that said, few households have the income to justify paying what stores are charging for designer clothes, shoes, and accessories. Unless there’s a good reason to buy new, you’re always better off buying preowned.

But who says second-hand fashion has to look dull and disappointing? The truth is that, with a few tweaks to your approach, it’s possible to look absolutely stunning in nothing but preowned attire.

The following are a few ways you and your family can save money on nice clothes, shoes, and accessories while still looking sharp:

Antique jewelry

Nothing adds a splash of refinement to an outfit like a nice piece of jewelry. Unfortunately, most strip-mall jewelry stores make it difficult for customers to know whether or not they’re getting a deal or getting ripped off. If you want fine jewelry at a relatively fine price, consider going the antique route. An antique necklace or pair of earrings will be expertly crafted from precious gems and metals without unfair markup. While all fine jewelry is inherently expensive, the unique style and elegant flair of antique pieces will justify the cost, especially since older jewelry was made to last centuries with minimal maintenance.

Vintage style

Retro fashion has been paradoxically en vogue for decades. These days it seems like the styles of the 1970s, 80s, and 90s are considered an acceptable part of modern fashion, so use that to your advantage. Thrift stores, online auction sites, and old-fashioned yard sales are goldmines for vintage clothing items. However, as far as looking your best is concerned, it’s a good idea to avoid looking like you just stepped out of a time machine. In other words, incorporate one or two pieces of vintage fashion into your outfit, rather than a head-to-toe throwback ensemble.

Tailored outfits

Gowns, suits, and other formal wear are meant to be custom tailored for an optimum fit. That means you shouldn’t buy nice clothing at thrift stores – or does it? Tailors can make adjustments to preowned clothing the same way they do for new items. With this in mind, consider buying gently used formal wear that’s a little too big for you. Take it to a reputable tailor and nab yourself a gorgeous outfit for hundreds less than what you’d pay otherwise.

Posh resale

Many companies these days make a business out of reselling gently worn designer label clothing items. These businesses operate with reduced overhead by shifting everything online other than the cleaning, storing, and shipping of the clothing itself. They pass the savings onto the customer while still earning enough to make it worth their while.

Hidden treasures

Sometimes you just have to get lucky. It could be a heavily discounted jacket you find at the flea market, or a beautiful brooch you come across at an estate sale. Whatever the source, the only way to uncover hidden treasures is to get out there and start hunting. With that said, it’s crucial to do your research prior to purchase. Just because the sales staff claim it’s a steal doesn’t make it true. Consult online pricing guides to gauge the true value.

Quality clothing should be made to last. Unfortunately, today’s trend of disposable fashion means people pay more for the brand than the clothing itself. In order to look great without spending a fortune, folks ought to opt for preowned clothing, shoes, and accessories. Doing so ensures you aren’t going broke just to stay fashionable.

Handy Financial Resources Every Parent Should Know About

May 18, 2021 By Justin Weinger Leave a Comment

You need money for virtually everything, and people see this clearly when they have children. At this point, lack of money can put your children’s lives in jeopardy, and no parent wants that. The good thing is there are a few financial resources out there that parents should know about to make their lives easier.

Financial Calculators

One thing you should do is use a financial calculator. There are many online, and most of them are free though there are a few apps you can download that’ll do the same thing for you. When it comes to choosing one, look for good reviews. You also want to pay attention to the way the information is presented. You don’t want something that’s hard to use. What a good financial calculator does for you helps you figure out how much you need to set aside for your kids’ college fund and other similar savings. It’s hard to figure this out on your own, but this tool should help.

Community Lenders

The next thing parents need to be aware of is community money lenders. The reality is raising children can get expensive. This is something all parents know. Ideally, you will always have a steady stream of income and never need anything, but that is not always the case. You can’t predict what’s going to happen in the future. If for some reason you hit money issues, you don’t want to jeopardize your family’s wellbeing. You do have a choice. You can start applying for a personal loan in Chicago and other major metropolitan areas to solve whatever financial hurdler you’re going through.

Debt Consolidation

Debt in various forms, be it credit cards, mortgages, and student loans, are everyday things for most people because they have no other choice in modern times. It is best to use debt during an emergency, as mentioned above. When you’re in debt, you’re accountable to someone. You want to decrease your debt obligation as much you can because you have to think about your kids. The good thing is you can use debt consolidation to try to reduce your debt and gain your freedom back. These professionals will help pull you out of financial stress.

Credit Reports

You can gain access to your free credit report each year, and you should take advantage of that. You need to do this not only because your credit score is essential but also to spot identity theft. Yes, identity theft can put you and your family’s finances in jeopardy, and you don’t want that. If you see something suspicious on the report, you’ll be able to do something about it. All you have to do is report the problem, and the issue should be resolved. Having an excellent report helps your family because you get lower interest rates and other benefits.

Financial Advisor

Financial advisors are a vital resource, yet sometimes, people don’t take advantage of their services. These folks will get to know you and your family’s finances intimately. After doing so, they’ll be able to analyze your finances and cash flow. They’ll factor in some of your goals, like having enough to buy your kids’ first cars and other things. They’ll create a plan so that you can do all of this, and they’ll also suggest a few steps you can take that’ll help put your family in a better financial position than you are in. These folks will teach you how to budget better and may even teach you about creating new income streams if you need them.

There you have it. You’ve got plenty of tools and resources to help you as a parent. All you have to do is take advantage of each one because you’ll be happy you did. Talk to an advisor for more tips.

Here Is the Difference Between Spending and Investing

April 30, 2021 By Justin Weinger Leave a Comment

Big investors are not always big spenders. They tend to cultivate more careful and measured spending habits. No one ever got rich by wildly spending money. One of the secrets to remaining wealthy is not to blow your wealth on things that don’t increase your wealth. Some of the wealthiest people in the world are also some of the cheapest cheapskates. But don’t judge them too harshly. There is a method to their madness that often whizzes right over the head of people who have been broke all their lives. It is a lot easier to go from rich to broke than it is from broke to rich. The rich are all too aware of that.

One of the reasons the poor stay poor is in many cases, they cannot differentiate between spending and investing. This is more than mere semantics. The poor work for money. The rich have their money work for them. It is not a magic trick. One of the reasons the rich get richer is because they put their money to work the moment it comes into their possession. Everyone can invest. Here is how to know when you are spending rather than investing:

Nothing You Have Appreciates in Value

It is a well established fact that Macs hold their resale value a lot better than Windows PCs. However, they will almost never increase in value unless they were signed by Steve Jobs. You might consider a computer an investment if used to make money. But typically, computers are not investments. They don’t appreciate in value.

You know you are spending if your home is cluttered with things that depreciate rather than appreciate. Instead of looking to pour thousands into more gadgets you don’t need, why not seek out original art for sale? Not only will you be able to add timeless beauty to your home, you will have an asset that traditionally increases in value over time.

As a collector of art, you might have some pieces that have middling value right now. Perhaps you spent a little at a yard sale and got lucky. Here is where you need to be careful not to think like a spender. If you have something of value right now, hang onto it while it gains real value for later. Try to maintain at least one thing that tends to increase in value.

You Buy Expensive Things on Impulse

If you really want to go broke, continue making expensive purchases on impulse rather than taking the time to do some proper research and soul-searching. Good investments aren’t made lightly or quickly. Bad spending happens in the blink of an eye.

Emotional spending is the death of a good budget. You are cold sober when making your budget. But spending can be like a drunken high. At the moment of decision, you can come up with all kinds of reasons why your budget was overly conservative and why you really can afford that thing you suddenly want so much. Investors keep a level head when forking over large amounts of cash.

You Don’t Know Where All Your Money Is Going

Everyone has had that moment near the end of the month when they could have sworn they had more money in the bank than their balance suggests. This happens to some people every month. They blame the spouse, the bank, and even the dog. They are spenders not investors.

An investor knows where every penny is going at all times. They know, or can quickly determine how every investment is doing, which are performing as expected, and which are underperforming. They are not confused about their money even when an investment fails to pay off. And they never blame their spouse for decisions they made in the heat of the moment.

Which type of person are you? Do you have items that tend to increase or decrease in value? Do you make quick decisions on big-ticket items or take the time to get some perspective? Finally, are you confused about where your money is going or do you have a clear picture of your finances? It is never too late to transform yourself from a spender into an investor. Start taking on that investor mindset today.