Second Hand Buying

The best way to stretch your dollar farther is by buying second hand used items.

I like to shop, but I can’t afford to have everything brand new. As long as I am using the item, it works, and it is in good condition then I am happy with it.

Sometimes you buy something, and after time passes, you don’t want it anymore. It’s taking up space, and you would like to get rid of it. If you bought that item new, you will be taking a big hit financially, but if you bought it used, then it won’t be nearly as bad.

Saving Goals / Safety Net

Savings goals a.k.a. safety net means money that you put away in a savings account and it’s purpose is to sit there and be there in case you need it. It is not meant to be spent. It is there to be borrowed from and paid back. It is better to borrow money from yourself than someone else that would charge you interest.

In an ideal world you are reading this blog post right before entering the work force. Once you get your first job, then give yourself a doable goal of saving $10/week or $500/year or more. You could sacrifice buying fast food once or twice a week. Your goals would look like this if you were 16 and got your first job:

$500 age 16
$1,000 age 17
$1,500 age 18
$2,000 age 19
$2,500 age 20
$3,000 age 21
$3,500 age 22
$4,000 age 23

Now lets say you followed my suggestion, and you have a safety net; that money is going to come in really handy when unexpected things happen in life. It could be anything, but you will be prepared.

How long should you save like this? I think you should either save like this indefinitely or at least until you save up enough to pay your bills for 6 months. Feel free to increase your savings goals if you have a high wage job and low monthly expenses. Believe in yourself! You can become the master in the game of life!


June 26, 2017

In 2015 I decided to make a budget and save $50 a month. I wanted to have a safety net built up for emergencies like car repairs. Now it is 2017, and it is a struggle to save that same $50/month amount. The reality is that the cost of living and vehicle repair expenses are very high. I am lucky to not have student loans, but for people that do, that makes it even more difficult to save money. Saving is difficult. The important thing is to have a financial plan and try. I am doing that, which is better than what I was doing.

Pyramid Scheme / Distributor / Start Your Own Business

This is a warning about the pyramid scheme/distributor/start your own business things. It Works! seems to be the most popular that I see friends of mine doing.
Everyone wants a better life, more money, and a flexible schedule. These businesses offer these things and that is how they prey on your vulnerabilities. Someone I know was interested in investing $1,000 to start a business selling healthy weight loss juices (not It Works!), and I immediately replied. “If you do that, you are a sucker, and you would have to find other suckers to make money off of. Do you really want that on your conscious?”
Do your research online and if the word pyramid scheme comes up in a search engine, I wouldn’t do it.