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Author Archives: Jason Butler

Avatar photo About Jason Butler

Jason Butler is an Atlanta native, as well as businessman, blogger and teacher. Not only is Jason a prolific flipper, marketer, writer and side hustler his number of years in higher education and student support have given him expert knowledge in understanding the economics of the student loan industry.

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Preparing for the New Year

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prepping for new year, New Year's preparation, New Year goals

Prepping for the New YearHopefully, your 2015 was as good as mine was. I was able to get some things rolling in several areas of my life. If you’re like me you want 2016 to be just as good if not better than this year. For that to happen there a few things that you should do now to prepare for the New Year.

Go over what went right this year

The 1st thing that you should do is go over what went right this year. Did you save more money this year? Did you get your business off the ground this year? Did you or your significant other lose that unwanted weight that you’ve been discussing? You should try to build on whatever it was that went right this year. Even if you only had one thing go as planned, it is still worth building on.

Go over what went wrong this year

The next thing you should do is think about what went wrong this year. If nothing went wrong for you this year you must have a cheat code to life or something. I would love to borrow it. For the rest of us, I’m sure something, even if it was minor went wrong. What I’ve realized is that the best thing that you can do is learn from the things that have gone wrong. In some cases that could be easier said than done, but you have to do it so that it won’t happen again. You may not have started on a goal soon enough or you may have fallen back into your old spending habits. Whatever it was that went wrong, there is always a lesson to be learned.

What do you want to accomplish in 2016?

Have you thought about what you want to accomplish in 2016 yet? I know today is Christmas and hopefully, you’re enjoying this time with your family. In the next few days take some time to really think about what you want to make happen in 2016. I typically do this the week after Christmas. I write down a few things and add them to my planner.  During the upcoming year, you can look over your goals and try to get them accomplished.

Set reasonable deadlines

Now that you’ve figured out what you want to accomplish for next year, now is the time for you to set reasonable deadlines to make it happen. Different goals should have different time frames. For example, it is easier to save $5000 in a shorter time frame than it is to save $15,000. Having a reasonable deadline will hold you accountable. When setting the deadlines stretch them out if you need to. You don’t want to become stressed out because you didn’t reach one of them. Remember, it’s not the end of the world if you don’t reach all of your goals in time.

Taking the time to prepare for the New Year helps you out in so many ways. It allows you to have a plan for each month. Things might not go 100% as planned, but it’s good to have a guide of what you want to do for the next year.

Do you prepare for the upcoming year? If so, what are some things that you do?

7 Ways to Boost Your Credit Score

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credit score tips, credit score advice, boost your credit score

7 Ways to Boost YourYour credit score is very important. Your score along with your credit history determines what type of loans you may qualify for as well as the amount of interest that you will pay. The higher the score, the better the interest rate will be. People’s scores can fluctuate for different reasons. Bad spending habits and trying to keep up with the Joneses are just a few of them. Today I want to discuss 7 ways to boost your credit score.

Check your score

The first thing you should do is check your current credit score. How can you expect to boost your score if you’re not sure what it currently is? Everyone can receive one free credit report every year from each of the three major credit bureaus. Equifax, Experian and TransUnion are the three major bureaus.

Pay off your debt

You should pay off your debt if you’re trying to boost your credit score. Your debt to credit ratio is one of the major things that lenders look at when deciding what you qualify for. You don’t want your debt to credit ratio to be too high. Find a way to get that debt down as soon as possible.

Dispute errors

If you see any errors on your credit report you should dispute them. Sometimes mistakes do happen. I’ve been lucky enough to have not had any errors show up on my credit report. If you have problems understanding your credit report ask someone that you’re close with to help you go over it. If you do have an error on there, contact one of the 3 major credit bureaus so that you can dispute it.

Negotiate

The next thing that you can do is to negotiate a payment with your creditors. People have busy lives. Sometimes we don’t always pay our bills. You might forget about one of them or you could lose your job and not have the funds to pay it at the time you received the bill. In this age of technology, you’d be surprised that writing to your creditors is very popular when negotiating. You can also try and call the company. The main thing that you want to do is get in contact with them and come up with a plan to pay it off.

Pay on time

Another thing that will boost your credit score is to pay your bills on time. On time payments account for a little over a third of your credit score. I used to pay a few of my bills a couple of days late every month. At the end of 2014 I stopped doing that. Since then my credit score has went up by 168 points.

Use your card less

The 6th item on this list is to use your credit cards less. You don’t need to swipe your card for everything. It all goes back to the debt to credit ratio. You don’t want it to be too high.

Keep cards open

If you pay off a credit card and cancel it, it could possibly drop your credit score. It does that because your available credit goes down. The next time that you pay off a credit card keep it open for a few months so that doesn’t happen.

Does your credit score need a boost?

What to do if you Want a Career Change

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carer change, career tips, career advice

What to do if You Want a Career ChangeGood morning Dinks. Have you ever woke up dreading your job? You feel like you hate going to that place every day. You’re looking for a way out, but you don’t know what to do. You’ve been with that company for a while and you feel stuck. Many people feel that way about jobs that they have. I want you to realize that you don’t have to stay there forever. You still have options. Changing your career may not be the easiest thing to do, but it can be done. Below are a few things that you can do to help you get the process started.

Discover what you actually like

What interests you? What do you see yourself doing every day? What do you want to do? Those are some questions that you need to ask yourself when you’re thinking about making that career change. You can’t change your career without knowing what you really like. It’s good to take some time and figure it out.

Try doing it on the side first

Before you transition fully you should try doing your future career on the side at first if that’s possible. An example would be if you wanted to start freelancing, you could do it on the Weekends to see if you actually like it. If you do like it you could eventually transition into doing it full time.

Go back to school

The third thing you can do is go back to school. These days schools offer night, weekend and online classes. What’s stopping you from attending any of those? There should be some type of financial aid options out there for you. Also, check with your current company to see if they offer tuition reimbursement. Tuition reimbursement is when your company pays some if not all of your tuition in school while you work with them. You may have to stay with that company for a certain amount of time, but it is something you can consider.

Network

The next thing that you should do is to network with people in the field that you’re trying to get into. Networking is one of the easiest ways to get a job in a new field. People will help someone they know before they help a stranger a lot of times. If you don’t know anyone if that field, check the website LinkedIn. LinkedIn is a site that allows you to connect with thousands of professionals around the world.

Save money and take the leap

The final thing that you can do is to save money and take the leap of faith. You want to save between 6-12 months of income before you make that leap. The money saved is your nest egg. You have that to fall on if your career change doesn’t work out once you make the leap. If it doesn’t work, the worst thing that could happen is that you may have to go back to your old career. If you have to do that you can try again until you find that or create your next career.

Have you made a career change after working somewhere for a long time? If so, how did it go?

10 Reasons Why I Like Mint.com

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financial advice, financial tips, mint.com

10 Reasons Why I Like Mint.comHave you ever heard of Mint.com? It is a free secure web-based financial website where people can link all of their financial info such as accounts, credit cards and investments in one place. I’ve been using them for over a year now and I know the site has helped me do better with my finances. In today’s post, I want to go over 10 reasons why I like Mint.com.

Account info in 1 place

As I stated earlier Mint allows you to store all your info in one place. For me, it’s good that I can see everything in one centralized location. It shows me what’s in my account or what’s not in my account.

Budgets

Mint allows you to create monthly budgets on their site. The budgets are up to date. They show you how much you spend and how much you have left to spend for each month.

Transactions

Mint has an area where you can see all your transactions. It shows you the date of the transaction along with a brief description and a category. It also gives you the ability to edit the details if you need to.

Alerts

They have a section on their site titled alerts. There are several type of alerts that you can get notified about. A few of the alerts that you can choose to receive are ones for low balances, unusual spending, credit available and large deposits. The alerts show up on the mint overview screen. You can also have them emailed to you or sent to you via text message.

Upcoming bills

Mint has an upcoming bill tracker that shows you your upcoming bills for the next 4 weeks. You can edit it to view whatever bills you want to see.

Goals

There is a section on the site called goals. It allows you to create different types of goals. Paying off credit card debt and saving for an emergency are just a couple of the goals that you can create. You can also make custom ones as well.

Trends

The trends section has graphs that show your spending, your income, your net income, your assets, debts and net worth over time. It can be a real eye-opener to some if they have never really tracked their money, but it’s good to know your habits. You can also view the trends by the type it is and by the account.

Ways to save

Mint has a section called ways to save. It gives you tailored suggestions on how to save money on banking, investments, and insurance. You have the ability to compare the suggestions and see which ones work the best for you.

Investments

They have a section titled investments. Mint offers several brokers to choose from. They let you know the minimum cost to start the investment along with other important stats.

Mobile App

Mint’s mobile app is very nice. It shows you everything that is on the main website, just in a compact view. It’s up to date with its account information as well.

What are your thoughts on Mint.com? Have you used it before? Would you use it?

Disease Called Debt

Why I Like My Credit Union

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credit union, credit tips, credit advice

Credit unionYears ago my mother opened up a checking and savings account for my siblings and me at one of our local credit unions. When she did that I had no idea what a credit union was. Now, in my early 30’s I am glad that she took the time to do that. My credit union has been great to me over the years. I’ve had a couple of accounts with major banks over the years and can honestly say that my whole banking experience has been remarkably better at the credit union. Today I would like to share with you why I like my credit union.

The first reason why I like my credit union is because they treat me like a real person, not just another customer. From my experiences the tellers in the credit union seem to value their customers a little more than tellers in banks do. They also seem to go the extra mile a little more as well.

The 2nd reason why I like my credit union is because they are not constantly trying to sell you things or get you to open up another account. I typically go to my credit union twice a month. They have never asked me to sign up for a credit card or a loan. It feels good to go into a financial institution and not be bombarded with questions. I have a credit card with one of the major banks. I go to one of their branches every once in a while to make a payment. Every time that I am there the teller asks me to open a checking or savings account with them. Every time I tell them no!

After working as a bank teller for nearly 2 years I understand that the more you sell the higher your bonus will be, but some tellers go overboard. One of the reasons I stopped working in the bank was because of the excessive selling. I couldn’t justify trying to get someone who had a negative in their savings account and $2 in their checking account to open up a credit card. By the looks of the first two accounts, they are already struggling. A credit card for them would only make things worse.

The next reason I like my credit union is because their fees are not as high. When I was younger I over drafted on my credit union and major bank (when I had one) checking accounts a few times. The overdraft fee that my credit union charged me was $15. The major bank charged $35. That’s a $20 difference. Something else that irked me was that my major bank tried to charge a fee each month if I didn’t have a certain amount in there. I closed that account after they told me they couldn’t waive the fee. I now have accounts with 2 different credit unions. They don’t charge any crazy fees at all.

The 3rd reason that I like my credit union is that I have received better interest rates on products from there in the past. I’ve had two car loans in my life. Once was from a major bank and the other was with my credit union. The interest was lower on the loan from the credit union.

The final reason that I like my credit union is because they have different events throughout the year. They have a couple customer appreciation days. They also have educational workshops on money from time to time. Lastly, they have good used car sales.

Do you use the credit union? 

Things to Do if You Start a New Job

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career tips, career advice, job tips

Things to Do fGood morning Dinks. In my post a few days ago I discussed some things that I think you should do if you lose your job. Today’s post is a follow-up to that one. I will be going over a few things that I think you should do if you start a new job.

The 1st thing that you should do if you start a new job is to put your best foot forward. Putting your best foot forward means that you should do your best. You should be on time every day. You should also make sure that you learn your job quickly so that you can get your work done in a timely manner. You are being watched very closely during the first couple months at a new job. You want to show your new employer that they made the right decision by hiring you.

The 2nd thing you should do if you start a new job is to review your benefits package thoroughly. You should go over your medical insurance options immediately. If you’ve been out of work for a while and haven’t had insurance you may want to schedule a physical and also get any medications that you may need to have refilled. You also should check out the type of dental and vision insurance as well. You should also see if your new employer has a 401k or other type of retirement program. You may also want to see if they offer any stock options. One of the previous companies that I worked for offered them. I didn’t know much about stocks at the time, but I signed up for them anyway. Some employees also offer discounts with their benefits package. Some of the discounts could be on things such as hotel rooms, rental cars and cell phone plans.

The 3rd thing that you should do if you start a new job is to create a new budget. In the previous post, I stated that you should eliminate some things from your budget to help you save money during your job loss. With your new job, you may be able to add some of them back. I would only add things back if they are truly needed. That mocha latte every morning isn’t technically needed. Try to keep your expenses as low as possible with your budget. Also, replenish any money you withdrew from your savings during your time of unemployment.

The last thing on my list for today is to live below your means. Some people have the tendency to spend more once they get a new job where they are earning more. Don’t fall for that trap. That’s one of the worst things that you can do. Sometimes people spend more to keep up with the Joneses and other times it’s to buy something for instant gratification. That’s not financially smart at all. Living below your means will allow you to save more money and pay off some debt quicker.

What are some things that you would do if you started a new job?

Things To Do If You Lose Your Job

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career advice, job tips, losing your job

Things To DoIf You Lose Your JobLife has its unexpected ups and downs. At times, it can be great such as when you win a contest or a giveaway for $1000. It can also suck like when you lose your job unexpectedly. Whether you’re fired or laid off losing your job can knock the wind out of you. In today’s post, I go over a few things that you can do if you ever lose your job.

File unemployment

You want to file for unemployment as soon as possible if you lose your job. Unemployment provides you with money weekly while you’re looking for your next job opportunity. The unemployment benefits will not be as much as you made at your job, but it should be enough to help you pay for necessities.

Cut unnecessary spending

The next thing you should do is cut your unnecessary spending. It may be hard, but you have to look at your budget and figure out what is a necessity and what isn’t. If you have cable or an expensive gym membership they have to go until you get another job again. If you are a person who drinks Starbucks every morning you have to eliminate that from your routine for the time being. Using your money for necessities should be the only thing on your mind right now.

Think about your options

A day or two after you lose your job you should think about your options. You should write out a list of companies that you want to apply for. You should decide if you want to work in the same career or if you want to switch it up. Something else that you should consider getting a part-time job until you get another full-time position. Remember, the part-time job is only temporary. You are only working part-time to bring some money coming in.

Network

Networking with your friends and family is very important when you’re looking for another job. They may be able to help you find another opportunity sooner than later. Your network is very important. My network has helped me secure a couple of jobs in the past. Besides family and friends you can also reach out to former coworkers, church members and former classmates. If you have a LinkedIn account you should also network on there.

Apply for jobs

The next step is to apply for new jobs. When I was unemployed last year I applied to at least 10 jobs every day Monday – Friday. Some days the number was closer to 20.  You have to get those applications out there to those employers. Your goal should be to get another job as soon as possible. You don’t want to be unemployed for too long. If you haven’t had to look for a job in a while a few websites that you should check out are Monster, Indeed and Craigslist.  I’m sure you will see some jobs that you qualify for on those sites.

Stay Focused

The last and most important thing that you can do is to stay focused. It can be a struggle when you don’t have a job. In 2014, I was unemployed for 3 months. At times, I felt depressed and wondered if I would ever get an interview. I never gave up. I worked 2 part-time jobs for 7 months until I found my current full-time job. Tough times don’t last, but tough people do. Stay focused.

 

How to Save Money on Your Christmas Shopping?

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christmas shopping, holiday shopping, seasons budget

Christmas ShoppingChristmas will be here in a few weeks. It’s one of my favorite times of the year. I get the chance to relax and spend some quality time with my family. I also get to exchange cool gifts with them. Since I’m getting older, I’m just happy to still receive a few gifts here and there. Most of my family members feel the same way. We really enjoy this time together. Sometimes families can a go a little overboard with their Christmas gift purchases. They may get everyone what they want on their list, but end up still paying for those gifts come March. That’s not financially smart. In today’s post, I will be sharing a few tips that will help you save money while shopping for Christmas gifts.

Budget

The 1st thing that you can do is to create a budget for your Christmas shopping. Once you reach that budget you can’t buy any more gifts. That may take some discipline, but it can be done.  You can also set a small budget for each person that is on your list as well. That will probably work best if you’re shopping for a few people.

Limit the number of gifts

Limiting your purchases can save you a lot of money during this Christmas shopping season. If you usually purchase everyone in your family 3 gifts each, try getting them only 1 or 2 gifts. By doing that, you should be able to save a little cash.

Draw names

Some families are so large that they have to draw names. Drawing names is when someone writes the name of each family member on small separate sheets of paper. The pieces of paper are then put into a hat or bucket. Each member of the family then draws someone’s name and gets them a Christmas gift. Imagine having a family where you have 8 siblings. It could be tough financially trying to get them all nice gifts. By drawing names, you only have to worry about one person. That will be much better on your wallet.

Take your family to dinner

Taking your family to dinner for Christmas is another way to save money. This idea might turn heads if your family is traditional or used to celebrating Christmas in a particular way. If it does turn heads don’t let that bother you. It’s your gift to your family. I’m not sure how anyone could get mad about free food. This should probably be done if you have a relatively small family. If you have 20-30 people in your family you might want to stick to drawing names.

Ask people what they want

I will be the 1st to admit that I’ve wasted money in the past by just buying random gifts for people. I’m sure some of the things I purchased in the past are collecting dust in their closets. To save time and money, you can ask people what they want this year for Christmas. I actually did this a few weeks ago. I’m usually a last-minute shopper, but I’m finished and I still have money left over this year. You may be surprised at some of the simple things that people may want.

How do you save money on Christmas shopping?

brokeGIRLrich

How to Save Money Traveling During the Holidays

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traveling tips, traveling advice, traveling during the holidays

Save Money TravelingHello Dinks. Many people will be traveling during the holiday season. This year the holiday travel season is forecasted to be one of the busiest ones in years. With it being extremely busy, I can imagine the prices getting higher each day. In this post, I will share with you a few ways that you can save money while traveling during the holidays.

Book in advance

Booking your flights and hotel rooms in advance is one of the easiest ways to save money. Flights get more expensive the closer you get to the departure date. A good rule of thumb is to try and book your flights about 6 weeks in advance.

Travel on the day of the holiday

For some reason traveling on the day of the holiday such as Christmas or New Year’s Day yields a lower price. In the past, I’ve saved lots of money on my New Year’s trips by coming back home on January 1st. This may not work for every destination, though. When you’re booking check different dates to make sure you do get the cheapest price.

Drive, ride the bus or train

You have a few other options besides flying when traveling during the holiday season. If your destination is close enough you can drive, ride the bus or catch the train. With gas prices in most places being under $2.30 per gallon what better time than now to do a holiday road trip. If you don’t want to drive you do have the option of catching the bus or the train. Both of those should be cheaper than flying in most cases.

Pack Light

Packing light can help you save money when flying. By packing only a few items, you won’t have to bring a large suitcase. You could bring your bag on your flight as a carry-on. That way you will save money by not having to check it in. Just make sure that you’re not flying an airline carrier that charges for carry-on bags!

Check multiple sites

When booking your holiday travel make sure to check multiple sites for price differences. You may be surprised to see that your tickets may be a few bucks cheaper on another one. Every dollar counts. I usually check the prices on 3 different sites. If the price is the same on all of them I will book the flight or hotel on the brand’s website. An example of this is if I’m looking for a Marriott hotel room I’d check Marriott’s site, Priceline, and Expedia. If all three of the sites have the same price I will book the room through Marriott’s site.

Stay a day or two longer

If you’re flying somewhere over the holidays check to see how much your ticket would be if you stayed at your destination a couple extra days.  I’ve seen ticket prices go down by a good amount if you leave a day or two later. I know trying to stay longer during the holidays isn’t an option for everyone, but if you have the flexibility you should consider it.

How have you saved money traveling during the holidays?

Why You Might Not Need A Credit Card

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credit card tips, credit card advice, credit card options

credit cardA lot of people have credit card debt. The amounts vary per person. If you’re responsible you should be able to pay it off in ample time. Unfortunately, everyone isn’t that responsible. Many people let the credit card debt add up over time and struggle just to make minimum payments. Some are actually better off without a credit card for various reasons. Today’s post covers a few reasons why you might not need a credit card.

You already have large debt that you’re struggling with.

If you already have a large amount of debt that you’re struggling with you may need to think twice about getting a credit card. Getting a credit card and using it irresponsibly can make your debt much higher. In the past, I’ve made the mistake of using my credit card when I shouldn’t have a few times. I’ve gotten a grip on it now, but I am still working to eliminate that debt. The name of the game is to save money, not dish more out for debt payments. If you really want to get a credit card eliminate some of your debt first.

You’re not exactly sure how it works.

The next reason you might not need a credit card is because you might not be sure exactly how it works. I know when some people hear the word credit card they think they have money to spend. While technically you do have money (credit) to spend, many don’t immediately think about repayment. Some people, especially younger ones fail to think about interest rates. Many people also only make the minimum payment because that’s the amount that their bill tells them to. Make sure you educate yourself about your credit card if you do decide to get one.

Family has a history of debt problems

How were your parents with money when you were growing up? Did they have a lot of credit card debt? Do they still have a lot of credit card debt? Did they educate you about credit card usage? If the answers to these questions are not generally positive you may need to think a while before you get a credit card. History repeats itself if you’re not careful. You don’t want to make the same mistakes as your parents did. As I stated in the previous paragraphs take as much time as you need to learn and understand your credit card fully.

You have a spending problem

If you have a spending problem you don’t need a credit card. It will only make things worse. For some people, a credit card allows them to become impulse buyers. I’ve seen people splurge for no reason once they get that credit card. Don’t fall into the trap. That money has to be paid back. Get your spending problem is in order before you decide to get a credit card.

These are just a few reasons why you might not need a credit card. Everybody is different. These reasons may or may not apply to you. If you choose to get a credit card please use it wisely.

Do you have a credit card? Have you had spending problems with it?

 

 

Disease Called Debt
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