Search Results for: rent an apartment

Do We Inflict Peer Pressure On Ourselves?

January 15, 2014 By MelissaB 10 Comments

When my husband and I got married, we were flat broke. Broke. We bought the cheapest wedding bands that we could find, and my diamond is small. However, that was my preference. I wanted to stay within budget, and I personally like smaller diamonds rather than the big rocks that some women wear. (All I could think was that when I had babies, I’d accidentally scratch them with a big ring.)

Still, there have been times that I’ve been in the presence of a group of women, each with a huge rock on her hand, and I’ve been a bit embarrassed by my small diamond. I’ve wondered what other people thought of us and our financial situation.

Peer Pressure Doesn’t End in High School

In high school, peer pressure is at its peak. If you want to be popular, you have to follow what the other kids are doing. I didn’t cave to peer pressure often. Instead, I had a few close friends, and I followed the path that was important to me. I was relieved when I graduated because I thought the peer pressure would finally be done.

In college, I found that the peer pressure did relent. People would respect your choice if you didn’t do what they were doing.

However, as I got older, I began to realize that there are societal norms that you’re expected to maintain. This becomes the “keeping up with the Jones'” phenomenon.

The Pressure Becomes Internalized

My husband and I are digging our way out of serious debt. We are scrimping and saving, knowing that in a few short years we will be out of debt and can start fresh. We can have all of our money be our own once we’re out of debt.

Meanwhile, we drive a 10 year old minivan with over 125,000 miles on it. I wear my small diamond ring, which I don’t ever plan to replace with a bigger version. We rent an apartment instead of owning a home.

No one is pressuring me to spend money that we don’t have. No one is passing judgment on us (at least not to us directly). But it’s hard not to look at other people’s lives and see the “stuff” that they have. The nice cars. The nice home with brand new furniture and a manicured lawn.

No one is telling me I’m failing, but I feel it sometimes. I feel that I’m not living up to society’s standards. I can see how easy it is to want to keep up with the Jones’, even if you can’t afford it. I can see how easy it is to pull out the plastic just this once because you’ve been scrimping and saving and just want to be like other people once in a while.

For the people who can afford it, there is no danger in this. For the people who can’t afford it, there’s just debt and heartache. You might then be just like those you want to be like.

Me, I’ll keep resisting the peer pressure, even though now it’s mostly pressure I put on myself.

VantageScore: A New Way to Figure Credit Scores

August 26, 2013 By MelissaB 6 Comments

Dave Ramsey doesn’t have one. I didn’t have one when I first graduated from college.

What am I talking about? A credit score.

Our reasons are different–Dave Ramsey shuns credit, and as a recent college graduate, I hadn’t yet opened a credit card account nor bought a car with a car loan–but we were still in the same situation. So, how did a recent college graduate making less than $35,000 a year get lumped in the same high risk category with Dave Ramsey? Simple. FICO didn’t have a score for either one of us because we hadn’t used credit in the last 6 months.

Life Without a FICO Score

Of course, if you’re Dave Ramsey earning a gazillion dollars a year (just joking, sort of), you don’t really need a credit score. You can pretty much buy what you need with cash.

However, if you’re like the majority of Americans, you need a credit score to do the most basic of things like rent an apartment or qualify for a car or home loan. (Okay, if you follow Ramsey’s advice to stay out of debt, you don’t need to qualify for a car loan, but you still likely need a home loan. Besides, many landlords routinely ask to check your credit before agreeing to allow you to rent their apartments.)

For many, then, there is a problem. How can you shun credit cards as Ramsey advocates and yet still have a credit score? For years, the answer used to be–you can’t.

However, CNN Money reports that hope might be on the way in the form of a VantageScore.

What Is a VantageScore?

A typical FICO credit score simply looks at the last 6 months of your credit history.

VantageScore, which was created by the three credit bureaus (Experian, Equifax and TransUnion) and unveiled in 2006, instead looks at 24 months of payment activity including payments that don’t require credit cards such as rent or house payments and utility payments.

How Many People Could Benefit from VantageScore

According to CNN Money, nearly 64 million Americans don’t have enough credit history or activity to generate a FICO score. Of that group, 10 million have excellent credit, and another 20 million have good credit.

Currently, many banks and other lending institutions are missing out on those consumers because they essentially have no FICO score. The VantageScore would show that these consumers are attractive to lenders because they are responsible with their money.

When Will VantageScore Become Mainstream?

For people without credit to benefit, VantageScore must become more mainstream. Currently, almost all lending institutions rely on the industry standard, the FICO score.

Until VantageScore becomes mainstream, if you are one who shuns credit, you may be faced with a difficult decision–either use credit sparingly every month and pay it off immediately, or save enough money to pay for everything you need in cash. (This, of course, is Dave Ramsey’s preferred method.)

Do you use credit just to keep a high credit score, or, like Dave Ramsey, do you shun credit? If you shun credit, have you had problems with not having a FICO score?

9 Income Streams Retired Guys Wish They’d Started in Their 40s

October 2, 2025 By Teri Monroe Leave a Comment

Income streams guys wished they started earlier — Image Source: 123rf.com

Many retirees admit their biggest regret isn’t overspending. Many retirees feel that they waited too long to build their wealth. It’s easy to do. In their 40s, most men focus on careers, kids, and mortgages. There’s hardly time to think beyond each paycheck. Many men overlooked opportunities that would have compounded quietly. By retirement, time is not on their side. What many learn is that multiple income streams mean freedom, stability, and less fear when markets shift. Here are nine sources today’s retirees wish they’d built decades earlier.

1. Dividend-Paying Stocks

Dividend stocks steadily reward patience, even during market dips. If you reinvest payouts in companies like Johnson & Johnson or PepsiCo, your portfolio can double over time. But you have to start early and let compounding do the work. So, start in your 40s, or earlier. Retirees now collecting quarterly checks regret not beginning sooner. Dividends turn ownership into automatic income.

2. Rental Real Estate

Real estate can be one of the best investments over time. Owning a small rental early builds equity and monthly cash flow. A single property bought early can be paid off, producing income long after. Platforms like Roofstock or Ark7 make investing accessible without full-time management. Delaying entry means missing decades of appreciation.

3. Roth IRA with Growth Assets

Roth IRAs let contributions grow tax-free. This makes every dollar withdrawn in retirement more valuable. Funding aggressively in your 40s locks in decades of compounding without tax drag. Retirees now facing required minimum distributions wish they’d maxed Roths sooner. The earlier you start, the more freedom later. Tax-free income beats taxable gains every time.

4. Online Businesses or Content Platforms

Digital income streams, like blogs, YouTube channels, or niche e-commerce, reward consistency. A hobby site started at 40 could produce ad revenue, affiliate sales, or royalties by 60. Growth takes time and patience. Many retirees now see peers earning passively from work they once refused to participate in. Online ventures scale no matter what your age is.

5. Peer-to-Peer Lending

Platforms like LendingClub or Prosper let midlife investors earn interest by lending small amounts to vetted borrowers. Starting early spreads risk and builds steady returns over the years. Retirees who ignored this niche missed out on hands-off income. Peer-to-peer lending can help with diversification beyond stocks. Any loan interest compounds quietly if given time.

6. REITs and Real Estate Funds

For those not managing property, Real Estate Investment Trusts (REITs) offer passive exposure and regular dividends. Investing consistently builds income tied to tangible assets, like apartments and warehouses. Retirees now rely on REITs but regret missing earlier growth phases. These funds blend liquidity with property potential.

7. Side Hustles That Scaled

A part-time gig started for extra cash, like freelance writing, tutoring, or consulting, can mature into a full income stream. Many retirees now wish they’d kept small ventures alive instead of dropping them when work got busy. Decades of reputation could have created business equity. Flexibility grows from foundations laid early.

8. Annuities with Delayed Payouts

Buying fixed or deferred annuities in midlife locks in guaranteed future income. Rates are stronger when started earlier, and contracts can complement Social Security. Many older men now see the benefit of blending predictability with growth. Early funding means higher lifetime payouts. Security multiplies when time is on your side.

9. Royalties from Intellectual Property

Books, courses, or even patented ideas can produce checks for decades. Those who documented expertise in midlife now collect passive income for work done once. Retirees often regret not turning experience into assets. Royalties don’t require youth, only foresight. Every skill has earning potential if captured early.

Why “Someday” Became “Too Late”

The most successful retirees didn’t wait for perfect timing. Instead, they started small and stayed consistent. Each income stream takes time to mature, but compound growth rewards the early and patient. In your 40s, time is still your strongest asset. Building now means choices later, not compromises. The best day to diversify was yesterday. So, start today.

If you’re still in your 40s, which income stream will you start before it’s too late? Tell us in the comments.