Saving more money might seem like a tough thing to do, but with the right knowledge, you can save a lot of money in a short period of time. In this post, you’ll learn a number of ways to save thousands of dollars a year!

There are many ways to improve your financial situation: increasing your income, decreasing your spending, getting out of debt, etc.

One of the easiest ways people can improve their situation instantly is to cut costs and lower their expenses.  It doesn’t cost anything to stop spending money – just a little willpower.

Today, I will be sharing with you nine ways to start saving money – and all of these are strategies you can put into action today.

Let’s get into these 9 ways to save more money starting today.

9 Ways to Save Thousands of Dollars Starting Today

There are a number of ways to save money each and every day. I’ll give you nine in this article that you can take a jab at working on right away:

• Destroying your Debt
• Meal Prep and Eating in
• Couponing
• Planning Ahead for Vacations
• DIY Projects
• Using the Library
• Unsubscribe From Subscriptions
• Practice Smart Banking
• Taking Public Transportation

Let’s go into more detail for each of these money saving methods.

Destroy Your Debt

Debt is a huge expense for many people. For me, it’s my biggest expense: my mortgage payment is $1,702, and I need to pay it every single month.

For me to live in my house, since I’ve financed it with a mortgage, I’m paying around $20,000 a year to service the debt. That’s a lot of money each and every year for 30 years. Unfortunately, many people, including myself, currently have or have had student loans, auto loans, mortgages, and credit card debt.

The first way to save thousands of dollars is to destroy your debt. Pay a little bit extra on the principal of your loan and you’ll be able to pay it off earlier. Check out my these ways to get out of debt fast, and you’ll be on your way to debt freedom – plus, getting out of debt is pretty awesome psychologically speaking!

Meal Prep and Eating In

Eating out is really expensive. Baked in to the price is the cost of the food, the cost of the workers making your food, the cost of the property and all that entails, taxes, etc.

A meal for one person these days can easily run you $10+ a pop – and that doesn’t even include a tip.

Alternatively, meal prepping, bulk cooking, and eating in can help save a lot of money.

For example, in Minnesota where I live, I can get a dozen eggs for $1. I typically will eat 4 eggs, and add in a banana and apple and call that a meal. This “meal” will cost me about $2.

Now, if I wanted to go out for breakfast, this same meal would probably cost around $13. Added up every single day of the year, and all of a sudden that $10 meal becomes $3,650!

Try eating in just once more per week and see how much more money you can save.

Use Coupons

Saving a dollar on 10 items each week can add up over a year. Saving an extra $10 a week is over $500 a year!

Just the simple act of looking at a coupon book and seeing if there are any deals on what you usually buy can help save a few hundred bucks per year.

My mom is an avid couponer. She spends a few hours each week looking through ads to make sure the family can save a few bucks here and there. Over many, many years, these savings add up!

Plan Ahead for Vacations

It’s no secret that transportation, especially air transportation, costs a lot of money.

One way to save more money on vacations is by planning ahead and buying your airfare in advance – whether that’s many months or even close to a year.

I went to Las Vegas at the end of June.  It was a last minute decision on my part – and for that, I paid the price.

For a flight from Minneapolis to Las Vegas, on such short notice, I paid almost $650!

If I had been able to check ahead, say, six months in advance, my flight would have been far less – around the $200 figure. That’s a $450 difference!

Imagine the amount of savings if you had a family or partner.  It’d make this savings even more significant: $450 savings across 4 people is some serious moolah!

DIY Projects

Going to the store and buying a new desk, bench, or storage rack can be a little bit spendy. If you’re handy (or even into learning some new skills), why not go to the hardware store and buy a few 2×4’s and get the job done yourself for cheap?

I did this last year: I went and created a ton of storage space for myself with a few 2×4’s and just a few hours of work. There are so many ways to DIY simple projects, and even if you don’t know how YET, you can always learn something new, especially with things like step-by-step YouTube videos, books, and internet articles.

 

 

Use the Library

Going to the library, getting a library card, and using it to further your education can go a long way in saving money on books and learning materials.

Books from Amazon or Barnes & Noble typically cost anywhere between $10 to $20 a book.  Most libraries have any book you could ever want, including other forms of popular media like movies, television shows, ebooks, audiobooks, etc

This year, I’ve spent $250 on books from Amazon. While I’m happy to do it because it’s bettering myself, I also find myself thinking about how that money could be better served.

That $250 could’ve been put into the bank, or used to fund an investment!

Going to the library and renting your books and movies could help save a few hundred bucks a year.

You can also find other surprising ways to save more money by using the library; I’ve heard of libraries that rent out things like kayaks, cooking equipment, and even zoo and museum passes. Get to know what your library offers and you may find endless ways to save!

Unsubscribe

Monthly subscriptions are dangerous for someone trying to keep their expenses low. Each and every month, you are on the hook for another payment.

What is necessary in your life? Do you really need that subscription to your favorite magazine?  What about the $60 a month subscription for new clothes (something my old roommate had)?

Take a tally of your current monthly subscriptions, and make sure you’re not missing any! Figure out what is necessary and remove what isn’t.

Bank, ATM and Overdraft Fees

A recent study puts the cost of transacting in cash at $200 billion a year – because of different banking fees.

If you need cash, find an ATM that is in your network and take out cash for free. ATM fees typically are at least $3 per transaction.

If we pay attention to where we are, we can usually find an in-network ATM.  But what if you can’t?  It’s always worth calling your bank and asking for a fee to be reversed. They should understand, and if you’re nice and polite, they should do it for you.

Overdraft fees are another hassle, and they make the least sense to me – if you keep money in your bank account and you’re keeping track of how much you’re spending, you shouldn’t be overdrawing your account.

Finally, there are so many free checking account options out there, either through basic packages at banks or credit unions, that it doesn’t make sense to pay bank fees to use your own money.

Stop paying to bank, and remove a few hundred dollars in expenses over the next year.

Public Transportation

Cars are super expensive.

Not only that, but add in insurance premiums (especially if you have a nice car), maintenance, gas, and parking, and a person can easily spend $5,000 to $10,000 a year or more just in transportation costs.

I personally spend a little over $2,000 on my car a year just for check-ups, insurance, and gas.

Instead of driving to work each day, I take the bus. It costs me $50 a month but is much less stressful than driving – plus, no wear and tear on my car!

Another alternative is riding your bike to work – as many people of the frugality mindset do. Plus, it’s great exercise!

Ways The Mastermind Within Community Members are Saving Money

One of the great things about having readers is being able to ask them about their strategies for financial success.  A number of people contributed to the question of the best ways they save money.

Dylan, a friend and blogger at Trail to FI, saves money by staying home!  Here’s what he had to say about saving money:

Don’t go shopping! The easiest way to avoid temptation is to not put yourself in the situation where you might be tempted. I used to browse daily deal websites and end up buying gadgets that I didn’t really need. Now I just don’t visit those sites.

A number of people say they use automation and a strategy of paying themselves first.

Cynthia, an avid reader, says she can’t spend what she can’t access.

On the first day of the month, we transfer a specific dollar amount into our savings.  We live below our means and we drive modest cars. We use a budget and we save 10% in retirement accounts and 35% in after-tax accounts.

Another reader, Diego, does the same:

Save it before you see it. State specific quantities in your one-year​ and five-year goal planning. Monitor, track, and document these goals (very important!) and re-assess the quantities if needed. Check your progress for the yearly goals every 3 months and every year for the five-year goals.

It seems that there are many different ways to save money – I love hearing about what other people are doing to become better and improve their situation!

 

Save More Money Today With These Ways to Save Money

I hope you can incorporate at least one of these tips into your life and start saving thousands of dollars a year. Maybe, you will take all nine and look to cut costs and eliminate what is not necessary.

There are so many ways to either increase your income or decrease your expenses. Figure out which one you would prefer and you’ll be on your way to increasing your savings rate, net worth, and your financial situation.

Take a stand and start saving some more money today!

Consistent actions over time will result in massive success. If you have a great plan, you need to take action and execute. This post is all about how you can be consistent in your life.

The most important habits for success are consistency and action.

You may have the right idea, the best game plan, and a fantastic strategy.

But without ACTION and consistent actions, those ideas and plans mean nothing and will not lead you to success.

In this post, I want to share with you a number of thoughts on consistency, the importance of taking action, and how you can become successful through consistency.

First, I’m going to share with you the story of my introverted friend. This story originally was posted as a guest post on this website, and I’ve re-purposed it for this article.

The following is his story and his perspective of how consistency helped him overcome social anxiety and introversion.

How Consistency Helped Me Overcome My Introversion

A bit of backstory, I was painfully shy back in high school. I’m talking next level… having no friends and spending my entire time in the library.

Of course, there’s nothing wrong with that. Other than the fact that I was miserable.

You see, it’s not that I didn’t want to meet people. It’s just that I didn’t know how. So comes time to go to college and I had enough.

I swore to myself I’d learn how to be social and meet people anywhere. That was my goal.

Now, one of the perks of being a bookworm is that you read a lot. Thinking of a way to get out of my shell, I thought back to a book I had read: The Power of Habit, by Charles Duhigg.

The idea in the book was simple. Do something enough times so your mind is accustomed to it. You no longer have to exert willpower to do it.

Make it Routine and Don’t Break the Chain

Think to your day to day routine. When you wake up, do you actively have to think about putting on your slippers?

No, you don’t. Do you have to think about brushing your teeth?

Most likely not. You just full on entering zombie mode and waddle yourself across to the good ol’ washroom and start brushing away.

You’ve done these tasks enough time that your mind doesn’t need to think about it anymore. I wanted socializing to be one of those things.

Now I knew what to do. But how long would I have to do it?

After doing a bit of research, I found my answer. A while back there was a trend going on the internet called ‘Don’t break the chain.’ It was pioneered by Jerry Seinfeld, he used it as a way to make sure he practiced his comedy routines.

Look at the calendar below:

What Jerry would do is really basic. Every single day, he would practice and he’d put an X on the calendar.

What happens next is fascinating. When he put down a few X’s it became much harder for him to skip practice. Because he was so used to feeling satisfaction from putting an ‘X’ down, that he just couldn’t do it.

Hence, I also tried to ‘not break the chain’.

Meet a New Person Each Day

I decided on a pretty difficult goal: every single day I would talk to a new person. No matter the situation.

Whether or not I was busy,  had a midterm or wasn’t in school that day,  I would go out and say hi to one new person.

The first few days, every fiber of my body was pulling the other way not to do it. It was painful.

For me, personally, it’s usually the first eight to ten days I decided to take on a new habit. It’s just very painful to go through with it.

Because you leave your comfort zone. I hate to admit it, for most people including me, my comfort zone is laziness.

Not doing is much easier than doing, which usually my mind gravitates towards. But something magical happens after the first ten days.

I started to enjoy talking to people. A lot.

Socializing started to become a part of my life. And I got my X’s, all 30 of them.

And whenever I’d go to parties, be in class or go to a networking event, meeting new people was something I wanted to do.

This seemed too easy to be true. Is talking to one person a day really enough?

Let’s break it down.

Today: I’ve talked to one person.

This week: I’ve talked 7 people.

This month: I’ve talked to 30 – 31 people.

This year: I’ve met 365 people.

Now that’s some networking right there. Imagine how much better your social skills would be if you met 365 new people this year?

Make Excellence a Habit

Aristotle had a great quote to reflect this:

We are what we repeatedly do. Excellence, then, is not an act, but a habit.

Every single day you wake up, you decide what kind of future you want.

People who amass huge wealth through personal finance and reach tremendous heights don’t do it in a day.

Everyone wants to see the great result at the end of someone’s journey.

They want to see Michael Jordan scoring the game-winning basket.

They want to see the glory when SpaceX has a successful launch on their latest rocket.

But no one thinks about:

How many hours he’s practiced basketball. Doing little drills over and over again just to get them right.

How many failed launches SpaceX has had and how many all-nighters Elon Musk had to pull through to get that one successful launch.

Small disciplines performed over a long period of time will bring you life-changing results.

For me, I want to become a freelance writer and make a living from it. When I first started it was really scary.

I had no idea how to start or what to even do. But I thought about it and came to a conclusion: if I write every single day for an hour a day, I’ll be a good writer. I keep at it day in and day out and make sure I write every single day.

Hey, if you’re reading this far I’m probably doing something right 🙂

And doing this day in and day out has opened doors I never thought would be open for me. For the first time in a while, I finally feel like I’ll be able to make it in the wild west of freelancing!

The only thing I have to thank is consistency.

What a great story!

Now it’s your turn.

What are your goals?

What are your goals? Is there something you are striving to accomplish this year? What is something you are passionate about and want to achieve?

I’d love to know what goals you have.

And if you already have goals, or are just starting on your goals, consider the following:

• What can I do today to get a bit closer to my goal?
• Are there any actions I can take this week to get closer to your goal?
• What can I do this month?
• What can I do this year?

Big goals are scary.

Breaking them down into mini goals gives you the confidence to achieve them.

With your goals and your game plan, the next step is ACTION and consistency.

The rest of this post will be showing you how consistency and action will bring you success.

Consistent Efforts Daily WILL Result in Massive Success

Things don’t happen over night. Becoming an overnight success takes many years.

That being said, the power of compounding is alive and well in the world.

Start today, and you won’t be sorry. Consistent efforts daily WILL lead to massive success.

A few examples of this in my life has been with my woodworking projects, and also with my exercises and health.

The Importance of Consistency When Becoming Physically Fit

At the end of March 2019, I decided it was time to get back into shape. I wasn’t going to half-do it either, I was going to go all in.

What did all in mean?

Consistent actions with my workouts, my diet, and sleep.

In college, I worked out a ton and was in great shape. However, after college, I let this slip and was not consistent with my efforts.

Starting April 1st, I decided I would work out 3-4 times a week, add a number of supplements to my diet, and look to get 8 hours of sleep a night.

I started out using this 21-day bodyweight bootcamp, and after getting back into the swing of things, have since just been doing different bodyweight exercises (push-ups, squats, planks, pull-ups, etc.).

In addition to these bodyweight exercises, I started rock climbing 1-2 times a week, biking 2-3 times a week, and going on hour long walks 2-4 times a week.

My workouts are fairly intense, but none of this is something the average person couldn’t work up to doing.

The Importance of Taking Action: Success Through Failure

We are capable of so much more than we give ourselves credit for. Why then, do most of us settle for a less-than-ideal life?

The answer is simple: Society has taught us to fear failure.

As a consequence, we are hesitant to step out of our comfort zone and dream big. Instead, we take the easy way out and settle with a this-is-good-enough mindset.

I hope that after reading this article, you will embrace failure and start to break down the imaginary wall between you and your goals.

Addressing the Fear of Failure Head-On

From the beginning, society convinces us that failure is not acceptable.

At a preschool soccer game, every team earns a trophy regardless of place to ensure that no player feels like he/she has failed.

This everybody-is-a-winner mentality persists throughout our childhood and into early adulthood. By the time we enter high school or college, we have an innate fear of failure and rejection.

This fear binds us from taking risks and pursuing our passions. It’s a lot easier to go through the motions and follow the crowd than to branch out and try something different.

Despite what society says, you don’t have to sit in misery at the nine-to-five job you settled for!

Remember when you were young and when asked “What do you want to be when you grow up?”, you’d respond with tremendous goals and dreams?

“I want to be an astronaut.”

or

“I want to be the president.”

Systematically, the conversing adult would respond “That’s great! You can do anything you set your mind to.”

Fast forward to adulthood – what happened to those colossal dreams and desires?

Chances are, society convinced you that these feats were too difficult to achieve. In order to avoid failure, you took an easier route to ensure that you would “succeed”.

I challenge you to reinvigorate the excited little kid from your past and begin to chase your dreams and passions.

The Importance of Taking Action

The reason I mentioned our innate fear of failure was not to demand that we can succeed at everything, but instead, to highlight that dreaming big and failing can cultivate future success.

Let’s look back at the elementary-school student who said: “I want to be the president when I grow up”. In order to prepare for this monumental goal, she would need to practice the necessary presidential skills.

These skills may include public speaking, negotiating, writing, networking, and many more.

For years, the dreamer hones and refines her presidential skill set. Unfortunately, she never makes the presidency.

However, she goes on to become one of the most respected senators in U.S. history.

Did she fail at becoming the president?

Yes.

BUT the skills she gained from her journey to achieve this goal allowed her to become wildly successful in the Senate.

Everything does not always work out in the exact way that we want it to. However, you will never achieve any degree of success if you do not try in the first place. A failure can teach us infinitely more than a success can.

Try, fail, and try again.

The skills and lessons gained from your failures will eventually generate success. Take action and never look back.

Success in Life Requires Making Choices and Being Consistent

Here’s a fact: life is a series of choices. 

Each and every day, we face 100s of choices. You reading this sentence? That’s a choice.

You don’t have to be here. You could be taking a walk. Maybe you could be talking to a friend. You could be driving to visit family. There are so many things you could be doing in this moment, but you chose to read this post.

Thank you for choosing to continue to read on.

I’m choosing in this moment to continue writing and my hope with the rest of the post is to make it enjoyable for you.

Life is a series of choices. Each day, we face 100s of choices. Either these choices can be positive, and lead us to our goals, or negative, and distract us from going towards our goals.

With these choices, there’s a thought and decision to be made.

Are you going to control your life? Are you going to make the right choices leading towards success? Or are you going to decide to not take control and let life happen to you?

Life is a Series of Choices

Starting right now, you have the ability to steer your life in whatever direction you want it to go.

Yes, everyone’s starting point is different. Everyone is unique and has had a different set of circumstances growing up.

However, where you are today is a result of your past choices and where you are going to be tomorrow is a result of your present and future choices.

Compounding is incredibly powerful, and it goes both ways: make positive efforts over time and you’ll see massive results; make negative efforts time and you’ll see poor results.

While in the moment you might feel forced to do something, it is still your choice on whether or not you do it.

Of course, there are consequences with every decision. If I decide to eat go out to eat, instead of eating in, that will result in more money spent. At same time, there will be less effort spent on my part to feed myself.

Controlling what is going on in your life is much better than letting life happen to you.

Where I Am Today is A Series of Choices from Where I Was Yesterday

I met one of my good friends in middle school. Both of us shared a lot of the same interests, and both of us enjoyed math.

Going into high school and looking at colleges, we both had thoughts around getting degrees in math.

Both of us earned a score of 28 on our ACT, and I entered college with 23 credits (from AP and College in the School courses), and he entered college with a slightly higher amount of college credits.

Up until this point, you could say that we had a similar starting point, and many of the same characteristics on our transcript. (28 ACT, 20+ college credits, same high school, similar neighborhood, similar interests).

When I got to college, I decided I was going to graduate in 3 years. A 4 year degree, at the state college I went to, took 120 credits. Each semester, 16 credits was considered a full load (4 classes) and consequently, 32 credits was a full load for the year.

3 years of 32 credits would be 96 credits. 96 + 23 was 119 credits, leaving me one short for graduation in 3 years.

“I can find 1 more credit over 3 years to get to 120 credits”, I told myself.

I wanted to save money, time, and effort.

One Decision Can Have a Huge Effect

I finished my school in three years and saved money, time and effort.

Next, I decided I needed more schooling and went for a Master’s. This was my decision, as if I didn’t go for a Master’s, I would have needed to learn more on my own in programming or math. At the time, I was working in a job paying $12 an hour, and since I had not made enough efforts networking, I didn’t have any salaried job prospects.

Fast forward 2 years, and after my decision to get a Master’s, I landed a job paying $63,000.

I did finance some of my Master’s program with a $15,000 student loan, and understood the consequences if I didn’t land a real job in my field.

5 years after starting college, I had a $63,000 job, and I was in a position to buy a house when I made a ridiculous decision to house hack. I paid off my student loans and now am saving for the future.

My friend, on the other hand, finished in 4 years and struggled to find work for a while, and found a full time job in the 5th year (I’m not sure his salary, but he stayed at home for a while to save up some money).

He is still paying off his student loans, and is smart and I know he will be fine.

It’s just very interesting to see where starting from the same spot can yield different paths and different results.

Every Decision Can Have a Huge Effect

There a compounding which happens over time as well with decision making.

If I didn’t graduate in 3 years, I might not have gone for a Master’s.

I probably won’t have landed a high paying job out of college if I didn’t go for a Master’s.

If I didn’t land a high paying job out of college, I would’t have house hacked at 23 years old.

Not house hacking at 23 years old would have lead to a much lower net worth at age 24, 25, and 26 years old.

One decision to graduate in 3 years lead to a waterfall of great experiences and outcomes.

Not to be dismissive, at each point in this 8 year period (from 18 to 26), there were a number of decisions and experiences which I didn’t talk about: studying, going to class, going out on the weekends and drinking way too much, having fun, traveling, getting into and getting out of relationships, learning on my own and side projects, networking, going golfing with my classmates, hanging out with family.

Each one of these decisions and choices could have gotten me off course. Maybe luckily, or maybe not luckily, I have been able to continue utilizing the power of compounding to continue to succeed with my finances and career.

I can eat cheeseburgers and no greens today, or have a mixed diet. Today, it probably won’t matter, but over time? I’ll become fat or I’ll be healthy. I can make this choice.

Now, what other choices can I make to lead me to success?

Which Decisions Will You Make Today?

Let’s revisit the question from a few paragraphs ago. Are you the owner of your life? What decisions will you make today that will lead you to your goals? Are you going to be consistent and work daily to improve?

Consciously and subconsciously, you will make 100s of decisions today… what to wear, what to eat, who to talk to, where to go, how to walk, what to say, etc.

Are these decisions going to be pushing you in the direction you want to go, or pulling you away from your goals?

I’m making the decision to be the owner of my life. Are you going to make a choice to be the owner of your life and become consistent with your actions and efforts?

Consistency and action are the most important habits for success.

Cultivating a mindset which emphasizes action will lead to great achievement and accomplishment.

Improving your life and financial situation can happen instantly with a change in mindset. You can spend less money by prioritizing your spending on what matters, and looking to not spend money on things which don’t matter!

In this post, you’ll learn how shifting your mindset to cut out unnecessary expenses can be great for saving more money.

There are many different ways to improve your financial situation. One way is to spend less on a monthly basis, and save the remaining amount.

While spending less, and saving more, sounds great in theory, in application, what exactly are you spending less on? What should you cut out of your usual spending? Should you make a budget?

Certain specific budgeting methods and savings ideas may work for you, these strategies do not talk about the mindset behind your spending.

Really, the simplest budgeting method is to look at your spending and see which expenses truly bring you enjoyment and happiness.

In this post, I want to share with you how you can prioritize your spending, bring joy to your life, and get a handle on your finances.

Spending Money on Things Which Bring You Joy

Let’s go back to the theory of improving your financial situation through spending less and saving more.

One of the most famous examples when talking about spending less is “The Latte Factor”, which was made popular in David Bach’s book, The Automatic Millionaire.

“The Latte Factor” are the little daily expenses which have the potential to add up over time.

If you spend $3.50 on a coffee and $1.50 on a bagel daily for breakfast at Starbucks, you are already at $5 for the day.

While $5 isn’t that much, if this is an everyday habit, this is $150 a month – just on breakfasts from Starbucks!

Maybe you don’t drink coffee, but have other small daily expenses which have the potential to add up over time. The idea of “The Latte Factor” still applies.

The point of “The Latte Factor” is that little expenses add up over time and can result in missed savings goals.

In the book, Bach recommends examining your expenses and thinking hard about what you need.

While I agree with the main point of “The Latte Factor”, I want to talk more in general about how I prioritize my spending to make sure I’m bringing fulfillment and joy to my life.

Spending Your Money on Your Passions

I have a few questions for you to think about.

These are more related to your life, than money, but will bring the answers you need to start getting better with your finances.

The questions are:

• What are you passionate about?
• What do you enjoy doing most?
• Is there anything holding you back from doing these activities more?

The purpose behind these questions is to get you thinking about MATTERS to you.

For me, I’m passionate about spending time with my family, being healthy and active, and learning.

Since these are my passions, then I need to align my spending habits with these passions.

What does this look like in practice?

For my health, I’m not afraid to spend a little more money on healthy food and supplements. I am finding spending some money on a relatively nice bike, a rock climbing gym membership, and equipment which can help me reach my fitness goals.

For learning, I’m not afraid to invest in myself and buy a course, a book or seek help.

For spending time with my family, I’m fine spending money at a golf course my dad wants to play, or taking my family out to dinner once in a while.

These are things which matter to me and how I apply this thought.

Now, let’s change it up a little bit and talk about things which I don’t spend money on.

Spending Less on Things Which Don’t Matter to You

At the beginning of the previous section, I asked some questions which were looking to get to the core of what you enjoy doing with your time.

Now, let’s go to the other side.

• What do you not like doing?
• What are things you aren’t passionate about?
• Do you find yourself stuck doing things you don’t enjoy?
• With these things you don’t enjoy doing, are you spending money on them?
  • If so, why?

For example, I don’t watch TV. I realized after college that TV was a waste of my time and not worth my money.

With this, I don’t have Netflix, Hulu, HBO, or basic cable.

If I don’t enjoy watching TV, then it follows logically I shouldn’t pay for these services (and I don’t!).

Another thing I don’t spend a lot of money on is alcohol. While in my college days, I would drink a lot on the weekends, now, I’m fine going to the bar, having 1 beer, and then drinking water the rest of the night.

I’ve realized I can have a ton of fun with just 1 drink, and I can save $15-$25 by drinking water the rest of the night.

Along the same lines, I don’t really care that much about what car I drive. For me, when I bought a car, I had 2 wants: it’s not wimpy, and it gets good gas mileage.

I’m not a car person, so why should I spend a lot of money on a car!

These are seemingly obvious statements which make total sense after the fact, but when approaching these purchases for the first time, you could end up spending more than you actually want.

Is it Possible to be Intentional with All Expenses?

If you are a personal finance optimization weirdo like me, your takeaway from this article might be to look at every expense and purchase you make and categorize it as good or bad.

Unfortunately, you will have expenses throughout the month which you can’t get out of – rent, insurance, taxes, utility payments, etc.

While these expenses you cannot completely remove, there are ways to reduce them to give you an opportunity to have more money for what you really want to do.

For example, with housing expenses, it’s possible you want to live downtown to be close to the action.

That’s great, but do you need the nicest apartment or condo, or could you go with a step down and save a few hundred dollars a month?

Alternatively, does it make sense to get a roommate, house hack, or live in the suburbs and commute in to downtown when activities are going on?

I don’t have the answers to these questions as I don’t know your situation.

However, hopefully this article has given you food for thought with regards to your spending.

I want you to be more mindful of how you are spending your money.

I want to make sure you are being intentional with your spending, and not wasteful with your money.

At the end of the day, you should be spending money on things that matter to you, and not spending money on things that don’t matter to you.

Prioritize Your Spending to Improve Your Life and Financial Situation

I’ve been talking about how I prioritize my spending to align with my passions.

Now, it’s your turn.

What are you spending your money on? Are you spending your money on things which don’t bring you joy? How can you allocate more money towards what matters to you?

Remember, with all things in life, there’s balance.

It’s important to remember there will be items which don’t bring joy which you will need to buy from time to time.

However, with the questions and tips I’ve discussed above, hopefully you will be inspired to examine your spending habits and align them with your passions.

For more money saving tips, check out these articles:

• 5 Simple Steps to Save Your First $1,000 This Year
• Increase Savings Fast by Reducing These 3 Big Expenses
• 9 Money Saving Tips to Help You Live Frugally

Thanks for reading!

Readers: how do you prioritize your spending? After reading this post, are you going to stop any expenses which aren’t bringing joy?

Erik

House hacking is a fantastic way to build wealth, achieve financial independence, or improve your financial situation. With house hacking, you can reduce you expenses, increase cash flow, and build equity. 

What is house hacking? What’s the definition of house hacking? Can anyone house hack?

House hacking has been an integral part of helping me Hou at a young age.

In this post, I will be sharing with you the basics for house hacking, and talk about my experience with house hacking.

I want to share with you my experience with house hacking – becoming a landlord and living with your tenants – and how this experience has had an amazing positive impact on my financial situation.

Below, we will cover:

• What house hacking is,
• How to house hack
• My house hacking story
• How house hacking gets you on the fast track to financial freedom

Let’s get started with the definition of house hacking.

What is House Hacking?

House hacking is buying an owner-occupied property and getting paid to live for relatively cheap or free.

How are you able to live for relatively cheap or free?

House hacking allows you to live for relatively cheap, or free, by owning a house and renting out your additional rooms or units to other people (friends, Craigslist people, strangers, etc.).

By “hacking” your housing expense, you use other people’s money (your tenant’s rent payments) to pay down your mortgage and live for free.

House hacking allows you to get into the real estate game and also have your housing subsidized by roommates or tenants. This post will give you a “House Hacking 101” lesson, starting with the basics.

What are the Benefits of House Hacking and Real Estate?

There are many benefits of house hacking. House hacking helps with cash flow and is also an investment in real estate. You improve your cash flow and get invested in one of my favorite asset classes. Additionally, house hacking is a stepping stone for those looking to buy or sell a house efficiently, especially in competitive markets like Utah, where understanding the right time and method can significantly impact your financial gains. For those aiming to leverage their property investment to the fullest, consider exploring services that offer fast, hassle-free home sales, like Sell My House Fast Utah, which can provide valuable insights into how to maximize your property’s value.

Why do I like real estate as an asset class? Real estate is:

• Accessible
  • Anyone can buy a house
• Appreciable
  • Your real estate can increase in value over time
• Leverageable
  • You can buy real estate on margin and borrow against equity
• Rentable
  • Cash flow is king!
• Improvable
  • Through sweat equity or contracting out repairs, you can increase the value of your house
• Deductible/Depreciable/Deferrable
  • Real estate has some amazing tax benefits

In addition to these great benefits of real estate, house hacking allows you to decrease one of your biggest expenses.

Housing is such a big expense for so many people, and by reducing it through renting out extra space in your house, you can save more money over time.

5 Reasons to Consider House Hacking for Financial Freedom

There are a number of reasons why you should consider house hacking. If you are looking to achieve financial freedom at a young age, house hacking will speed up your progress.

Below, I’ve listed 5 reasons for you to consider house hacking if you are looking to achieve financial success.

1. Decrease your biggest expense
2. Increase your income and savings rate
3. House hacking helps you gain landlord experience
4. Increased cash flow and financial flexibility month to month
5. House hacking gives you ownership of property and land

Now, let’s touch on each of these reasons to house hack in great detail.

1. House Hacking Helps Decrease Your Biggest Expense

Housing is the biggest expense for people in American, with nearly 40% of their income going towards rent or a mortgage.

By house hacking, you can reduce, or completely eliminate, your housing expense.

When I started house hacking, my mortgage payment was $1,820, and my monthly rent was $1,650.

Instead of paying $1,820 a month, I was effectively paying $170 a month for rent – $170 is unheard of for rent these days!

In addition, with principal pay down and appreciation, I was living for free and making money with house hacking.

House hacking allowed me to use my decreased expenses to pay off my student loans and pay off my car loan.

2. House Hacking Increases Your Income and Savings Rate

Similar to the first reason to consider house hacking, house hacking increases your income and savings rate.

Each month, you will be collecting checks from your tenants, and with this, you will be increasing your income.

With an increased income, you can pay down debt, take a vacation, or buy more rental properties!

3. House Hacking Helps You Gain Landlord Experience

When I started house hacking, I had no landlord experience. One of the reasons many people don’t invest in real estate is because they don’t have the experience and knowledge to manage their properties.

With house hacking, you can gain this experience.

Also, since you are living in the house you are renting out, it will be easier to manage any repairs, talk with tenants, and make sure everything is going well.

4. House Hacking Increases Your Cash Flow and Passive Income

If you are working a day job, you probably get paid every two weeks or so. With house hacking, you give yourself another paycheck, and this helps your cash flow over time.

What is great as well about house hacking is this income is passive income, and you receive this extra paycheck without doing any work!

5. House Hacking Gives You Ownership of Land and Property

Finally, house hacking gives you ownership of land and property. While the American Dream isn’t necessarily what it used to be, it is really cool to own something which is real and tangible.

There is finite space on this Earth, and no one is making any more land.

By buying property and land, you can own something which is scarce and can grow in value over time.

How to Buy a House to House Hack

Buying a house to house hack is very similar to buying a rental property.

A very common strategy for house hackers is to buy a duplex and live in one of the units. With buying a multi-family property, you don’t have to see your roommates, and can make repairs on your unit while bringing in rent.

However, before buying a house to house hack, it is important to have a real estate investing strategy for your money.

Real Estate’s One Percent Rule

The basic benefit of investment real estate is its ability to produce rental income. Before buying a property, it’s important to do some calculations and analysis to see if the prospective property will be a good investment.

The One Percent Rule for real estate is a very easy calculation to run to see if a rental property is a good investment.

If the monthly rental income is greater than 1% of the percent price, it could be a decent purchase for your rental real estate portfolio.

For example, if you are looking at a $200,000 house, then the 1% rule would mean the monthly rent would have to be $2,000.

For a house hack, if you plan to move out in the future, it might make sense to look at the 1% rule to see if the property could be a good investment for you. Other metrics might be cap rate, and net income after expenses.

With all houses too, since you are going to live in the house, you will want to think about location, repairs, potential tenants, and budget.

Your criteria should be based on the following factors: price range, discount, cash flow, and appreciation potential.

Buying a house is a big decision to make. While you will have wiggle room with rent coming in each month, you still want to make good decisions with your purchase.

How to Acquire Financing for House Hacking

Acquiring a mortgage and acquiring financing for house hacking is the exact same as getting a mortgage for an owner occupied house.

Real Estate Financing Options in the United States

The median home price in the United States is roughly $200k. Since most people don’t have that kind of cash laying around, they must go to a bank, a credit union, or online to acquire financing.

There are many types of loans. Let’s focus on the 3 main products most home buyers use: 30 year fixed rate mortgage, 15 year rate fixed mortgage, and 5/1 adjustable rate mortgage.

In addition to the type of loan, there are variations within each product: Conventional and FHA to name two.

30 Year Mortgage vs. 15 Year Mortgage vs. 5/1 Adjustable Rate Mortgage

Let’s discuss the 30 year fixed rate mortgage (yes, it is as simple as it sounds). For 30 years, you have the same (fixed) interest rate on your loan. Similarly, for the 15 year fixed rate mortgage, you have the same interest rate for the 15 year period.

Each month, you pay interest equal to the interest rate multiplied by the principal balance. The remaining portion pays off some of the principal.

Typically, the interest rate on a 15 year mortgage will be less than the 30 year mortgage, but due to the time difference, but the payment on a 15 year mortgage will be higher.

Next, we have the 5/1 adjustable rate mortgage (ARM). This product probably sounds complicated but it really isn’t. For the first 5 years, you have a fixed rate. Then after 5 years, your rate will adjust each year after that.

The adjustment will typically be based off of LIBOR rates (a common one is 2.25% + 3 month LIBOR). The fixed rates on ARM’s are generally lower than mortgages with a fixed rate for the whole term since they can increase after the fixed rate period.

With these 3 products, after 15 or 30 years, your loan is paid off and you are debt free!

Conventional vs. FHA Mortgage Loans

As I mentioned above, there are a few variations of the mortgage products: Conventional and FHA to name two. Conventional loans are straight forward loans: lenders typically require a 5% down payment and rates are determined by the market and your credit score.

If you don’t make a down payment of 20%, lenders will have you pay Private Mortgage Insurance (PMI), which protects the lender from a loss if you default on your loan, until you get to 80% Loan-To-Value (20% equity) in the house. Once you get to 20% equity, you don’t have to pay PMI anymore!

FHA loans are mortgages insured by the Federal Housing Administration. Borrowers with FHA loans pay PMI. Since borrowers pay PMI, lenders offer FHA loans at attractive interest rates and with less stringent and more flexible qualification requirements.

Lenders will allow a 3.5% down payment for FHA loans. A big difference between FHA and conventional loans is with an FHA loan, you will always pay PMI, no matter how much equity you have in the house (until the loan is paid off).

How to Find Renters to Live With When House Hacking

Finding renters for your house hack can be as easy as asking friends and family, going on Craigslist or getting started with a service like AirBnB.

For me, I’ve used Craigslist for finding my house hacking tenants. For my Craigslist messages, I look to be descriptive and helpful about what I have to offer, and also, the price expectations for the unit.

If you plan on going with AirBnB for your spare rooms, then you will already have an existing system in place for acquiring renters.

So far in this post, I’ve provided information on house hacking in general. Now, I’m going to share with you my house hacking story.

How I Started House Hacking After College

I’ve been house hacking the last 4 years after graduating from college.

In June 2015, I had just graduated with my Master’s in Financial Math in May, and had been working full-time for about 5 months. Life was good.

Over the few years leading up to that point, I’d been reading about different wealth creation strategies on different blogs. I was interested in building extreme wealth, and was definitely interested in real estate.

At this time, I was renting at the time with 5 other friends. 4 of us were looking to live together, and at the time, we were thinking about finding a place to rent.

The week before my 23rd birthday, I was hanging out with my friends in the house I was renting at the time. We were interested in moving over to the nicer part of town, but our 4 bedroom house or apartment search wasn’t going as well as we had hoped.

Then, a clever idea popped into my head. I was sitting on the couch with my buddy and said to him, “Hey, I know we are kind of striking out with the whole apartment search… I wonder what I could buy.” That set off a 1 week search for my house.

Can house hacking help you become wealthy? I was about to try and find out.

“I’m curious… I wonder what I could buy. Let me look at mortgages tomorrow and see what I can get”, I told my roommate.

I had just graduated from my Master’s program, had about $8,000 in student loan debt, but had a $63,000 salary.

Over the next week, I looked at a few houses and found a great one. Built in 1900, this two story house had been a rental for the past 8 years. The kitchen had been re-done, the bathrooms re-done, and the woodwork was in great shape.

Below are a few pictures:

In addition to the back deck, updated kitchen and bathrooms, and the fact it previously was a rental property, there is a 3 season porch off the master bedroom and a 3 season porch off the front of the house.

The downside was there were only 3 bedrooms (and we had 4 people). However, there was a den, and I was hopeful we could turn it into another room.

The location of the property is in a vibrant area which is very walkable.

I had found a great property, but now had to get financing and get my offer accepted.

How I Financed My House Hack

When I started my search in June 2015, I didn’t know anything about financing a house through a mortgage.

First, I went online and went to my bank’s website and got pre-qualified. I typed in my income and monthly debt information and out spit a number! At the time, I was making $63,000 and had a student loan in the deferral period.

Mortgage lenders typically will try to keep your Debt-to-Income Ratio below 43% of your pre-tax income (per CFPB rules).

Given I was making $63,000 a year, this equates to $5,250 a month pre-tax. 43% of $5,250 is roughly $2,200. After determining the final debt number, the lender will do a calculation based on current interest rates.

According to the bank, I was pre-qualified for a loan of $330,000. Essentially, getting pre-qualified is code for “now the bank can contact you and try to get you to originate a mortgage with them!” 🙂

After being pre-qualified, I sat down with the mortgage loan officer and we chatted about different options. At the time, I only had about $3,000 in cash and was making payments of $2,000 per month towards my student loan.

Since cash was an issue, the lender suggested I do FHA financing and put 3.5% down. After doing a full credit check, I was pre-approved for a $300k loan. A 3.5% down payment on a $300k house is a $10.5k down payment. This would be tough to get to, but I was still optimistic…

After getting pre-approved, sellers and agents are more willing to work with you because they know you are serious: you already have thought about getting financing and have taken action.

Negotiating My Real Estate Deal for House Hacking

After getting pre-approved for financing, it was time to make a deal.

The list price on the property I described above was $289,900. I wanted to see if I could get the house for a little less than the full asking price. I initially offered $280,000, but ultimately paid $287,000.

As I learned in The Millionaire Real Estate Investor,  as a real estate investor, it is important to negotiate everything!

In addition to price, there are numerous things to negotiate to ensure you get the best deal:

• Contingent upon inspection
  • Any repairs from inspection
• Contingent upon funding
• Mortgage Closing Costs
• Buyer’s Agent Fees

First off, you should always say the offer is “contingent upon inspection”. This protects you as the home buyer if the inspector finds something alarming, seriously broken or out of code.

“Contingent upon funding” is also used to protect the home buyer if the home buyer cannot obtain financing. If the home buyer cannot obtain financing, then the home buyer is not obligated to buy the house.

In my case, I was not in a position to pay mortgage closing costs and agent fees. These are two additional things a buyer can negotiate. Many times, if the seller is looking to move the house fast, they will pay your mortgage closing costs.

This usually is a few thousand dollars. In addition to the mortgage closing costs, you can ask if the seller will pay the buyer’s agent fees.

Usually the seller’s agent will charge 3% and the buyer’s agent will charge 3%. If you can get the seller to pay the buyer’s agent’s fees, you can save a fair amount of cash!

It never hurts to ask, I was able to get the seller to pay for my closing costs and my agent’s fees. This was very lucky for me and I look back and realize how fortunate I was. I was going to get into a $287,000 house for about $10,000 total in cash out of my pocket.

One last point, when you make an offer, it is good to put earnest money into an escrow account for the seller.

Earnest money is used to show the seller you will stay true to your word of following through with the purchase. If you don’t, you lose the earnest money. Typically, $1,000 will do. I did $1,500 for my earnest money. The earnest money goes towards closing costs and the down payment.

The Power of Sending a Letter to the Seller in Real Estate

Something that I’ve learned now is that letters work incredibly well in real estate. I’m 2 for 2 getting my offer accepted because I’ve written letters both times.

At the end of the day, people own houses, and with people, there are emotions involved. It’s not all about the numbers. 

Here was my letter for my current house:

Dear Current Homeowner,

My name is Erik and I particularly fell in love with the back porch and the kitchen that you have
put in. I can imagine having fun sipping drinks in the backyard with friends and then coming in to
socialize around the kitchen island. I hope that I have the opportunity to partake in these activities going
forward.

Currently, I work at a bank in risk management and believe in investing and growing for the
future. Currently, I have 3 other roommates and plan to rent the place to them while living with them.
After a few years, I would consider to have this become a rental property for myself. This property has a
lot of potential as I am sure you know: I researched that you have been renting it out for almost 10+
years now. The proximity to downtown, uptown, and the lakes makes it a fine location.

To further prove my commitment, I am offering 280,000, a strong purchase price, and 1,500 as my
earnest money deposit. Additionally, financing should go smoothly, as FHA loans are government
backed. If possible, I would gladly appreciate help with 1,000 of a down payment in exchange for a higher
purchasing price. If not, I am confident that my down payment will suffice.

If you accept my offer, I promise to show your home the same love and respect the previous tenants
have. Thank you again for considering my offer. I, Erik, respectfully look forward to hearing your
response.

Sincerely,
Erik

You might think it’s over the top, but all of that was what I loved about the property. What’s awesome is that after 3 years of living here, I’ve had some great moments in the backyard and in the kitchen.

Letters work when buying a property. Keep this in mind if you don’t have the strongest financial position.

The Importance of Getting a House Inspection When Buying a House

Before buying a house, it is very wise to get an inspection.

This is done by a professional inspector who will go around the property checking pipes, the HVAC system, the circuits, roof, insulation, and every other little thing you can think of in a house to ensure it is up to code. Anything which is not up to code will be listed in the inspector’s report.

After receiving the inspector’s report, as a buyer, you can request some of the items be taken care of. For example, there were some branches hanging over a power line.

I asked if the seller could hire a tree service to cut back the branches. Again, it never hurts to ask!

Negotiating when buying a house never hurts, and can lead to savings and less headache for you when you move in.

What to Expect When Closing on a House

After getting approved for financing, getting the house inspection completed successfully, and saving up for the down payment, it was time to close on the house.

For me, closing was set for a Thursday in late July.

A week before closing, I was stressed out. I had pain in my chest and was not feeling myself. I was feeling a lot of stress due to the closing and was very anxious. Going on a walk with my girlfriend at the time, I wasn’t feeling any better. I needed to relax, but it wasn’t working.

The next day, I went to work and again, I was feeling tightness in my chest. I was nervous and anxious.

To add to my anxiety about the house, I was thinking about how heart troubles run in my family: my grandpa had a heart attack at 52 (he is still living and healthy at 76 now).

This only made it worse… After work, I was with my girlfriend again and decided to have a doctor check me out. Chest pain is never anything to scoff at!

Well, long story short, I was healthy and it was stress. My heart was completely fine and I was not at risk of having a heart attack or heart troubles anytime soon. This was a relief and I was able to take a deep breath and prepare for the week ahead…

Finally, closing day came.

Closing isn’t that exciting. You sit around a table with your agent, the seller, the seller’s agent, and a person from the title company. You sign a bunch of papers (sign your life away… mortgage = death!), and receive the keys to your new place!

I finished up the paperwork around 4 P.M. and was off to the new place! I was a home owner!

How I Got Lucky with My House

When writing about personal finance and financial freedom, many people don’t talk about the environment they live in which allowed them to be successful.

What do I mean?

Something that is incredibly prevalent in the personal finance online community is how everyone is a millionaire and super smart for investing in the stock market over the last 10 years.

Here’s the thing: everyone looks smart in a bull market. 

Why do I bring this up?

I was very lucky in getting my house. What I mean by lucky, is a perfect storm of events had to occur for this to happen.

These events were the following:

1. Interest rates were low, and I could afford a sizable mortgage.
   • My salary at the time was $63,000. When I was doing a job search, I had an offer at $55,000 as well, but instead took the higher salary. If I’d taken the other job, I wouldn’t have been able to afford the house.
2. The Minneapolis housing market was tight, but not on fire.
   • In 2015, things were still turning up in the Minneapolis market. This property was on the market for 10 days before I put my offer in. My offer was less than asking and it stuck. If this property went on the market today (which I’m thinking about), it would be gone in less than a week.
3. I had enough in savings, and also was able to get a small loan from my dad
   • With $7,000 in cash, and a $3,000 loan (not gift, I paid him back) from my dad, I was able to meet the FHA down payment requirement.
   • But even with enough savings, it was very risky for me to put only 3% down on a house.
4. For the past 3 years before looking for property, I’d learned about real estate, investing, and had a goal of building wealth.
   • This can’t be ignored as many people at age 22 are still in school and have massive loans 🙁
5. I had 3 friends willing to move in to reduce my mortgage payment
   1. Using this house hacking calculator, my “rent” was $270 starting off, much less than if I was renting from someone else!

Combining all of these things led to a successful purchase. If the year was 2016, I don’t think I could have gotten this done because the market was getting hot. In 2014, I didn’t have a solid salary.

Again, I don’t want to poo-poo my success. However, to say that it was all me and not recognize the economic scenario I was working with would be a failure to think big picture.

Financial Results from 5 Years of House Hacking

Over the last 5 years, I’ve brought roughly $50,000 in rental income through house hacking. This rental income has allowed me to build an emergency fund, pay down my debts, and build equity in my house.

During my house hacking, I paid off my student loan, I bought a 2014 Jetta for $13,000 and paid off the auto loan associated with it, and have maxed my Roth IRA for 3 years.

In addition to the other debts mentioned above, I’ve paid down my mortgage balance from $282,000 to just over $240,000. This results in an increase of $40,000 in equity gains just through using other people’s money to help pay my mortgage.

As I mentioned above, one of the benefits of house hacking is the tax benefits which come along with real estate.

With my house hacking, I have been able to deduct some of the home improvements I made against my rental income. These deductions have helped with my tax efficiency, and allowed me to save more over time.

Finally, the neighborhood I purchased my house in has started to gentrify and the value of my property has increased 10-20%.

All of these factors have contributed to a net worth increase of over $100,000.

House hacking has allowed me to pay down debt, increase my investments, and grow my net worth by over $100,000. What could house hacking do for your life?

Change Your Life with House Hacking

House hacking is amazing and I recommend anyone who has an interest in financial freedom to consider it. The real estate investing strategy of house hacking is definitely tough with student loans, the want to live in luxury apartments, and the increased responsibility of being a landlord.

However, at the end of the day, it is more than worth it financially.

House hacking has changed my life with this amazing income coming in each month.

House hacking has been my most successful side hustle and has allowed me to take risks at work and now with my business and other side hustle endeavors.

I’m on the path to financial independence, and house hacking has sped this process up considerably.

I’m very thankful I’ve been able to do this, but not sure it’s sense for everyone.

Would I try to house hack today? Probably not.

If I was 22 again, I’d probably try to do it, but again, it’s a different scenario and naively thinking things will magically turn out is a little short sighted. I took a lot of risk (low down payment and no real estate experience) and it paid off. I’ve had real estate friends on both sides of success spectrum (success and failure), and every situation.

At the end of the day though, House hacking is definitely a strategy to consider if you’d like to become wealthy. As I mentioned above, I increased my net worth by $100,000 just by living.

What could you do by house hacking?

Readers: are you interested in house hacking? Have you house hacked before, and what were the results? Will you push your kids to house hack when they are older?

So, you’ve finally found your dream home – congratulations! But now comes the intricate dance of navigating the mortgage application process. You might have found a mortgage buyer in Texas or in another state to take the current loan off of your hands, but now you need to begin the process of applying for another one on your new property. Embarking on this journey might feel daunting, but with the right pointers and some prep work, you can tackle this task head-on. Let’s unravel the essential steps to make your mortgage application experience feel like a breeze.

Step 1: Lay the Groundwork

Before you dive deep into the mortgage world, spend a moment to collate your financial paperwork and review your financial plan. This is the bedrock of your mortgage journey. So, here’s how to start:

• Financial Documentation: Round up essentials like your latest pay stubs, tax returns, bank records, and any other evidence of earnings and assets. Think of it as preparing your financial resume for the lenders.
• Credit Check: Your credit score plays a vital role in the mortgage approval process. Request a copy of your credit report, review it for errors, and take steps to improve your credit if needed.
• Budget Assessment: Evaluate your monthly income and expenses. This will help you determine how much you can comfortably afford to pay towards your mortgage each month.

Step 2: Choose the Right Mortgage

Just like a bespoke suit, your mortgage should be tailored to your needs. The best mortgage broker Norwest based can assist you with this step. There are various types of mortgages available, each with its own pros and cons. Here’s a glimpse of the options:

• Fixed-Rate Mortgage: The interest rate remains constant throughout the loan term, providing stability for budgeting.
• Adjustable-Rate Mortgage (ARM): Interest rates start lower but can fluctuate over time. ARMs are ideal if you plan to sell or refinance before the rates increase.
• Interest-Only Mortgage: You pay only the interest for a certain period before starting to pay off the principal. Great if you need lower initial payments.

Step 3: Get Pre-Approved

Pre-approval is like getting a golden ticket to the mortgage world. It’s a preliminary assessment by the lender to determine how much they’re willing to lend you. This step holds numerous benefits:

Enhanced Negotiation: Sellers are more likely to take you seriously if you come armed with pre-approval. It shows you’re a serious buyer.

Accurate Budgeting: Pre-approval gives you a clear idea of your budget, preventing you from falling in love with a property you can’t afford.

Step 4: Find the Right Lender

Not all lenders are created equal. Just as you’d shop around for the best deal on a gadget, take the time to find a lender that suits your needs:

• Traditional Banks: They offer stability and convenience but might have stricter requirements.
• Credit Unions: Member-owned institutions that often offer competitive rates and personalized service.
• Online Lenders: They operate solely online, which can mean lower overhead costs and potentially better rates.

Step 5: Submit Your Application

Now that you’ve done your homework, it’s time to dive in. Most lenders offer online applications, making the process smoother than ever. But remember:

Accuracy Matters: Double-check your application for accuracy before submitting. Incorrect information could lead to delays or even rejection.

Be Responsive: Keep an eye on your email and phone for any follow-up questions from the lender. Quick responses on your end will speed up the process.

Step 6: The Waiting Game

Once your application is submitted, it’s time to practice patience. The lender will sift through your application, taking into account your credit track record, financial records, and the property’s evaluation. This might span a few weeks, so if there’s radio silence, don’t fret.

Step 7: The Home Appraisal

The lender will require an appraisal to ensure the property’s value matches the loan amount. An evaluator will inspect the property, considering factors like its condition, dimensions, location, and recent sales of similar properties.

Step 8: Underwriting

This is where the magic (and sometimes, stress) happens. The underwriter reviews your application and all the supporting documents to ensure you meet the lender’s criteria. They might ask for additional documentation or explanations during this phase.

Step 9: Loan Approval

You’re on the home stretch! Once the underwriter nods in approval, your loan gets the thumbs-up. A commitment note will land in your hands, detailing the mortgage’s nuances.

Step 10: Closing the Deal

The end is nearly here. You’ll sift through and endorse a series of documents, encompassing the mortgage note and deed of trust. Remember, the closing costs – a collection of fees linked with the mortgage journey – are due at this stage.

Conclusion

While the mortgage application path can feel like a maze, with the right knowledge in your pocket, it’s a cinch. It boils down to being prepped, staying connected, and collaborating with the right folks, be they lenders, representatives, or consultants. So, brace yourself for the exhilarating leap into homeownership and the thrill of unlocking the doors to your dream haven.

 

In today’s fast-paced world, financial decisions play a crucial role in shaping our lives. From securing loans for major purchases to seeking employment opportunities, credit scores have become the gatekeepers of the financial system. As we delve into the realm of credit scores and financial inclusion, we uncover the profound impact they have on individuals and communities worldwide.

Understanding Credit Scores

At the heart of the financial system lies the enigmatic credit score, a numerical representation of an individual’s creditworthiness. Credit scores are calculated based on factors such as payment history, credit utilization, length of credit history, and more, and are crucial when seeking financial assistance. Commonly used scoring models like FICO and VantageScore help lenders gauge the level of risk associated with potential borrowers.

The Impact of Credit Scores on Financial Inclusion

A strong credit score is often the key to unlocking a world of financial opportunities. It opens doors to traditional financial services like credit cards, loans, and mortgages, enabling individuals to achieve their dreams of homeownership and secure funding for personal and professional growth. However, credit scores reach far beyond the realm of banking.

Access to Traditional Financial Services

For many, access to credit is a lifeline during financially challenging times. It can mean the difference between starting a small business or missing out on a promising opportunity. Individuals with lower credit scores may face difficulties obtaining loans or credit cards, limiting their financial flexibility.

Employment Opportunities

Surprisingly, credit scores can also impact employment prospects. Some employers conduct credit checks during the hiring process to assess an applicant’s financial responsibility and trustworthiness. This practice has sparked debates, as it may potentially exclude qualified candidates based on financial struggles unrelated to their job performance.

Housing and Rental Applications

Finding a place to call home is equally influenced by credit scores. Landlords often run credit checks on potential tenants, using credit history as a measure of reliability and rent-paying ability. This process can create barriers for individuals with lower credit scores, making it harder to secure housing.

Credit Score Disparities

While credit scores have become an integral part of our financial lives, they also reveal underlying disparities. Socioeconomic factors, such as income levels, play a significant role in determining creditworthiness. Additionally, racial and ethnic minorities often face disparities in credit scores, highlighting the need for a more inclusive financial system.

Barriers to Financial Inclusion Related to Credit Scores

The journey towards financial inclusion is not without obstacles. Limited credit history poses a significant challenge, especially for young adults and immigrants starting their financial journeys. Furthermore, the underbanked and unbanked populations face difficulties in establishing creditworthiness due to limited access to traditional banking services.

Initiatives and Solutions for Improving Financial Inclusion

To address the barriers and promote financial inclusion, various initiatives and solutions have emerged. Alternative data and scoring models leverage non-traditional data, such as utility and rental payments, to assess creditworthiness. This approach has the potential to benefit individuals with limited credit histories.

Financial education and literacy programs play a pivotal role in empowering individuals to take charge of their financial futures. By providing essential knowledge and tools, these programs equip individuals to make informed decisions and build responsible financial habits.

Community Development Financial Institutions (CDFIs) serve as beacons of hope in underserved communities. By offering responsible credit and support, CDFIs promote financial inclusion, breaking the cycle of limited access to financial services.

Government and Regulatory Efforts

In an effort to protect consumer rights, the Fair Credit Reporting Act (FCRA) safeguards against credit reporting errors and inaccuracies. The Consumer Financial Protection Bureau (CFPB) also plays a vital role in ensuring fair credit practices and addressing credit score disparities.

Public-Private Partnerships

Collaborative efforts between public and private sectors are vital in driving financial inclusion forward. Embracing technology and fintech solutions can democratize access to financial services, making them more accessible to underserved communities.

Case Studies

Success stories abound when it comes to financial inclusion initiatives. Examples of impactful programs and interventions illustrate the positive outcomes achieved when we work towards a more inclusive financial system.

Conclusion

Credit scores are much more than just numbers; they hold the power to shape lives and influence opportunities. By addressing disparities and promoting financial inclusion, we can create a society where everyone has access to the tools and opportunities needed to thrive. Through collaborative efforts, innovation, and compassion, we can bridge the gap and build a financially inclusive world for all.

 

Embarking on a new entrepreneurial venture is both thrilling and demanding, with one of the vital elements being the attainment of sufficient funding. There are several financial options available, but for many business starters, obtaining loans is seen as a practical way to fulfill monetary requirements. Like any business choice, employing loans for startup finance has its merits and drawbacks. Understanding the most effective capital raising strategy for your business has great benefits, and lets you effectively manage your finances to grow your startup. In this article, we will delve into the benefits and shortcomings of using loans as a catalyst for your entrepreneurial pursuits, aiding you in arriving at a decision that is in line with your company’s objectives and risk tolerance.

The Pros of Using Loans for Your Startup

Immediate Access to Capital

Securing a loan can provide you with immediate access to the capital needed to turn your startup vision into reality. Unlike some other funding options that may take longer to materialize, loans can be obtained relatively quickly, allowing you to seize time-sensitive opportunities or address urgent financial requirements. You can use a business loan calculator to determine a suitable amount, complete the application, and receive your funds quickly.

Maintaining Equity Ownership

Securing a loan doesn’t entail parting with any percentage of ownership in your business. This implies that the entirety of profits garnered from your enterprise will be solely yours. Keeping equity ownership lets you guide your startup as you deem appropriate, devoid of intrusion from outside investors.

Building Business Credit

Effectively handling and reimbursing a loan contributes to building a favorable credit profile for your startup. Crafting solid business credit is vital for your firm’s ongoing expansion, as it can augment your chances of obtaining more substantial financing at more appealing conditions down the line.

Predictable Repayment Structure

Loan contracts often include a set repayment plan, simplifying your financial planning. You will be aware of the exact sum you must pay each month and the duration, facilitating the budgeting and administration of cash flow.

Leveraging Other Funding Opportunities

Having a loan in place can also make your startup more attractive to other investors. Demonstrating that you have already secured financing through a loan shows potential investors that you have a solid financial plan in place, making them more likely to invest in your venture.

The Cons of Using Loans for Your Startup

Accrued Interest and Debt Burden

Perhaps the most apparent disadvantage of taking out a loan is the accruing interest. While loans can provide immediate funds, they also come with the obligation to repay the principal amount along with interest over time. High-interest rates or extended repayment terms can lead to a significant debt burden, affecting your startup’s profitability and future growth potential.

Risk of Default

In the early stages of a startup, cash flow can be unpredictable. If your business faces financial challenges or fails to generate sufficient revenue, meeting loan repayment obligations could become a daunting task. Defaulting on a loan can have severe consequences, such as damaging your credit score or even leading to legal action by the lender.

Limited Flexibility

Once you sign a loan agreement, you are bound by its terms and conditions. This lack of flexibility can be problematic if your startup encounters unexpected changes or requires a different financing approach. Unlike equity financing, where investors may be more willing to adjust terms, loan agreements are typically less negotiable.

Personal Liability

As a startup founder, you may be required to provide a personal guarantee when applying for a loan, especially if your business doesn’t have a solid credit history. This means that if your startup fails to repay the loan, you may be personally liable for the debt, putting your personal assets at risk.

Opportunity Cost

Taking on debt can limit your startup’s ability to invest in other critical areas of the business. Money spent on loan repayments could have been used for marketing, research and development, hiring, or other growth initiatives. This opportunity cost should be carefully evaluated against the potential benefits of the loan.

Alternatives to Loans for Startup Financing

While loans are a common option for startup financing, they are not the only route available to entrepreneurs. Exploring alternative funding sources may present unique advantages:

Angel Investors and Venture Capital

Seeking funding from angel investors or venture capitalists can bring not only financial resources but also valuable industry expertise and networking opportunities. However, this often means giving up a portion of equity and accepting some level of external control.

Crowdfunding

Crowdfunding platforms allow you to raise money from a large number of individual backers who believe in your startup’s mission. This approach can help validate your product or service while also building a loyal customer base.

Bootstrapping

Bootstrapping involves funding your startup with personal savings, revenue generated from early sales, or funds contributed by friends and family. While this method allows you to retain full ownership and control, it may limit your initial growth potential.

Grants and Subsidies

Depending on your industry and location, there may be government or private grants and subsidies available to support startups working on specific projects or addressing particular challenges. Researching and applying for these opportunities can be a viable financing option.

Conclusion

As an aspiring entrepreneur, deciding how to finance your startup venture is a critical step that will significantly impact your company’s trajectory. While loans can provide immediate capital infusion and enable you to retain complete equity ownership, they also come with the responsibility of interest repayments and potential default risks. Comprehending the advantages and disadvantages of utilizing loans, along with considering other funding avenues, aids you in making a decision that corresponds to your startup’s fiscal requirements and long-range aspirations. In the end, triumphant funding is not only about the selection of the method, but also the ensuing strategy, preparation, and implementation, steering your startup towards continuous growth and achievement.

Becoming a successful investor starts with having the right mindset. By cultivating a strong investing mindset, you can be prepared for tough investing scenarios and put yourself in better situations for financial success.

Having the right frame of mind is imperative when it comes to investing, whether you’re a battle-hardened day trader or a total investing beginner.

Possessing the right frame of mind can save us from making mistakes, from going against our own plans, and from sabotaging our success.

While it’s true that we can’t control the markets, we can control how we invest in it, and much of that is influenced by our mindset.

If you’re new to the world of investing, here are six mindset tricks you should know to help you succeed in the stock market:

• Have a Financial Plan in Place
• Stick With Your Financial Plan
• Leave Your Emotions at the Door
• Focus on the Big Picture
• Set it and Forget It
• Don’t Chase the Next Big Thing

Let’s get into each of these investing mindset tricks in more detail.

Investing Mindset Tip #1: Have a Financial Plan in Place

It is absolutely critical to have a financial plan in place when you’re investing in the stock market.

Why?

Because, depending on how the market is performing, what you should do and what you’ll actually do are two very different things.

Nobody knows how they’ll react to a sudden market swing (no matter the direction), and the markets are fickle.

Having this plan in place can help keep you on track, even when things don’t feel right or aren’t going well.

Conversely, without a proper plan, it can be difficult to know where you’re going, and if you’re actually following your investment principles or just chasing the biggest returns or latest fad.

To craft a financial plan, you should:

• outline your investment goals
• determine how much you plan to invest and when
• define your risk tolerance
• devise how you expect to reassess your plan through time and
• assess if there are any limitations in your plan

Having a financial plan will also make you impervious to following dumb advice – whether that’s from the news, your favorite pundit or your boss.

With a solid plan in place, no matter what the market is doing, you should be ready to weather anything the market throws at you.

Investing Mindset Tip #2: Stick with Your Financial Plan

Almost as important as having a financial plan at all is sticking to that plan.

While there are many different ways to invest, including valuation-based investing, dividend investing, index investing, etc., oscillating between a number of different approaches willy-nilly will only waste valuable time and money.

Changing investing strategies frequently is a form of timing the market.  Timing the market refers to making buying or selling decisions of financial assets by attempting to predict future market price movements.  In essence, you’re guessing.

Very few people are good at this.

Once you’ve found a way of investing that you’re comfortable with, stick with it.

Investing Mindset Tip #3: Leave Your Emotions at the Door

If you had investments during the 2008 recession, you probably remember the sinking feeling you got after seeing your portfolio get chopped in half.

Oof – that doesn’t feel good.

Unfortunately, this same feeling was used by many investors as a justification for getting out of the market.

While this may have secured their portfolio from losing any additional money, it also meant they missed out on the bull run from 2009 until now – losing out on an over 194% gain.

Conversely, when Bitcoin was on a (quite ridiculous) rally during 2017, people flocked to get a piece of the pie before it went belly up, with many people purchasing at the top for fear of missing out.

In both situations, instead of acting based on their investment plan, people acted based on their emotions – and some people paid dearly for it.

The point is, our emotions affect our behavior. They cause us to second guess our decisions, to take bigger risks than we can afford, or to cash out because we’re afraid of losing all our money.

In short – emotions hold us back.

Emotions have no place in investing. Leave them at the door where they belong.

Investing Mindset Tip #4: Focus on the Big Picture

Another thing to keep in mind when investing is to focus on the big picture.

When you’re a newbie investor, it can be difficult to not watch your investments every day – especially if they’re not doing well.

But focusing on how a stock is performing in the short term doesn’t really tell us anything.

In fact, laser-focusing in on the day-to-day performance of a stock can cause us to make decisions based on our emotions (which we already know is bad).

While every stock goes through periods of volatility, over the long-term, the stock market generally moves in an upward trend.

By staying focused on the big picture, it’s easier for us to shrug off poor performance or volatility, because we know we aren’t planning on selling for a long time.

If you’re planning on holding onto your stocks for many years, then the day-to-day performance of a stock shouldn’t matter – focus on the big picture.

Investing Mindset Tip #5: Set It and Forget It

Another attitude that should be kept in the forefront of your mind when you’re investing is the “set it and forget it” mindset.

While many new investors think that investing is a heavily involved process, with a constant buying and selling of stocks to lock in profits, or the tweaking of their portfolio until it’s perfect, this couldn’t be further from the truth.

In fact, when it comes to investing, many times the best strategy is to do nothing at all.  Simply buying stocks from good companies and holding onto them indefinitely is a great way to become wealthy.

When we constantly fiddle with our portfolios in an attempt to increase our returns or minimize our losses, a strange thing happens – we actually perform worse than if we had just left the portfolio alone!

Simply buying and holding quality stocks over the long term is practically guaranteed to build your wealth.

Investing Mindset Tip #6: Don’t Chase the Next Big Thing

It’s easy to get caught up in the wave of excitement when the next big thing comes along, like cryptocurrencies.

You see people making big money, and you want to get in on the action!

And while it can definitely be argued that many of these speculative investments offer big rewards, the risks associated with them often outshine that.

Many of these investments are loosely regulated, offer little to no protection for consumers, and are subject to manipulation by whales (investors who artificially inflate a stock’s price).

There is certainly big money to be made – but it’s likely not going to be made by you.

Chasing the next big thing in the hopes that it’ll reward big is a sure-fire way of losing your shirt.

Concluding Thoughts on Cultivating a Strong Investing Mindset

Investing for the first time can be scary, but that doesn’t mean you should avoid it.

By utilizing these investment mindset hacks, you can prepare yourself mentally for what’s coming ahead – helping to alleviate some of the fear that keeps people from investing.

Hopefully this article will help you on your path to building wealth and learning more about the markets and investing.

Working out at home is possible and fun with the right guide and training program. Fitness Blender videos are a great start for beginners who want to become more fit and improve their health.

With the advent of the internet and the ubiquity of cell phones, getting a workout in has never been easier.

Whether you’re at home or away, in the wilderness or in the city, we can train wherever we are in the world – with the help of a professional trainer.

But if you’re new to working out, figuring out where to begin can be a challenge.

One of the most difficult parts of starting an exercise regime is simply knowing what to do.

If you don’t have any experience in exercise science, it can be difficult to know:

• what workouts you should be doing
• how often you should do them
• what areas to focus on
• how long you should work out for

This is enough to make the average person just say, “Forget it!”.

But what’s so great about using online videos to exercise is that you don’t have to figure any of that out.

You pick an area of the body you want to target, or do a video based on what you want to accomplish (build strength, tone muscle, lose fat, etc.) and simply show up and do the work.

The trainer will tell you all you need to know during the workout.

All you need to do is show up and give it your all.

With effort and consistent workouts, you’ll have that beach body in no time!

But before you start exercising, you need to make sure you’re prepared to work out at home.

What Sort of Equipment Do I Need to Train at Home?

To have an effective home gym, you don’t need a bunch of fancy weights and equipment.

If you’re just getting started, you can have an effective home gym with just a few pieces of equipment:

• Exercise mat
• Dumbbells

When you’re just starting out, this is really all you need.

Eventually, if you want to start performing harder exercises, you may want to get additional equipment, such as:

• Weight bench
• Free weights
• Cardio equipment, such as rower or stationary bike

What Exercises Should I Do at Home?

Before deciding on the exercises you should do, we need to break down the five main areas of the body that we’ll be focusing on in our workouts.

This will make it easier to choose a workout, though it should be noted that many of these videos target many areas of the body at once.

The five main groups of body parts we’ll be working out are:

• Core – Abs, obliques, and lower back
• Quads – Front legs
• Glutes and Hamstrings – Butt and back legs
• Chest, Shoulder and Triceps – Front chest and back of arms
• Back and Biceps – Upper back and front of arms

While every person is different and you may have more “problem” areas than others, it’s important to focus on training your entire body.
You don’t want to focus on just upper body or back and biceps while avoiding your other body parts.

For the most effective training, you’ll want to make sure you do workouts for all five areas.

Fitness Blender Core Workout Videos

Having a strong core is important for every person, whether you’re an Olympic weightlifter or an elementary school teacher.

That’s because our core helps stabilize us, keeps us balanced, and allows us to perform much easier the variety of movements we do every single day, whether that’s bending or twisting.

Here are five great Fitness Blender videos for strengthening your core:

Abs Workout for People who get Bored Easily – Core and Cardio Workout

 

Core Workout – No Equipment Abs and Obliques Workout

 

10 Min Abs Workout – At Home Abdominal and Oblique Exercises

 

Fitness Blender Abs and Obliques Workout – 10 Minute Abs Workout

 

10 Minute Abs Workout with Kelli and Daniel – At Home Abs Workout

Fitness Blender Quad Workout Videos

Your quadriceps are a group of four muscles on the fronts and sides of your legs. The quads are one of the largest muscle groups in the body, and we use them every day for such ordinary activities as walking, running, climbing stairs and squatting.

Having healthy, strong quads makes performing these and other athletic activities much easier.

Here are five great Fitness Blender videos for working your quads:

20 Minute Pilates Workout: Pilates Butt and Thigh Workout

 

Quick Leg Burn – Beginner to Advanced Lower Body Workout Routine

 

10 Minute Lower Body HIIT – Legs of Pain, Lungs on Fire

 

At Home Butt and Thigh Workout Video with Cardio Intervals – Fat Burning Cardio + Lower Body Toning

 

Lower Body Strength for Mass – Ultimate Home Workout for Lower Body Mass

Fitness Blender Glutes and Hamstring Workout Videos

Your glutes are a group of three muscles on the butt, and are a major component of your body; we use them to help us stand, push us up off the ground, and give us balance.

The hamstrings are a group of three muscles that run along the back of the legs, and they assist in bending the knee and moving your hips backward.

With strong glutes and hamstring, almost every athletic activity can be made easier.

Here are five great Fitness Blender videos for strengthening your glutes and hamstrings:

Lean Mean Legs – Butt & Thigh Workout

 

Leg Slimming Pilates Butt and Thigh Workout to Lift Glutes & Tone Thighs

 

35 Minute Pilates Workout for Butt and Thighs – At Home Pilates Workout

 

No Equipment Butt and Thigh Workout at Home – Bodyweight Lower Body Workout

 

At Home Butt and Thigh Workout – Strength, Pilates and Barre Workout

Fitness Blender Chest, Shoulder, Triceps Videos

Your chest, made up of two muscles, the pectoralis major and minor, are responsible for moving your arms up and down and across the body.  Like most major muscle groups, the chest plays a role in everyday functions such as opening a door or washing your hair.

The shoulder muscles, also called the deltoids, are a group of three muscle fibers (front, side and rear) that are responsible for rotation of the arm and extension of the arm. They help in everyday activities such as lifting objects, waving and hugging. They also allow us to carry objects safely.

The triceps is a major muscle that runs along the back of your arm. The triceps assist with extension and retraction of your arm at the elbow.  We use our triceps in such everyday activities such as throwing or passing a ball or shooting a basket.

Here are five great Fitness Blender videos for strengthening your chest, shoulders and triceps:

Complete Upper Body Workout for Strength & Toning: Arms, Shoulders, Chest, and Back Workout

 

Upper Body and Abs Workout – Compound Upper Body Workout for Strength and Coordination

 

Shoulders, Back, Chest and Arm Workout for Strong Toned Upper Body

 

No Equipment Upper Body Workout with Warm Up and Cool Down

 

Fun Upper Body Workout for Great Arms & Shoulders for People Who Get Bored Easily

Fitness Blender Back and Biceps Workout Videos

Your back is made up of four muscles, extending from the bottom of the back above the butt to the bottom of the neck.

The largest muscle, the latissimus dorsi, is located on the right and left side of your upper back. This is the largest muscle of the upper body, and assists in moving your core, arms, and upper body.

The rhomboids, split into the rhomboid major and minor, are two muscles that connect from the vertebral column to the back of the shoulder, behind your neck.  These muscles are responsible for maintaining posture and the stability of the shoulder.

The trapezius muscle is a sheet of muscle that covers most of the neck and upper back.  It is divided into the left and right trapezius muscles, and assists in moving, rotating and stabilizing the shoulder blade. It also helps extend the head at the neck.

The levator scapulae muscle is located on the back and sides of the neck, and assists in lifting the shoulder blade.

Here are five great Fitness Blender videos for strengthening your back and biceps.

Quick Arm and Shoulder Workout with Dumbbells

 

Quick 10 Minute Upper Body Strength Workout – (Bored Easily)

 

Strength Training for Arms and Shoulders – Strong Toned Arms Workout

 

At Home Upper Body Strength Workout for Arms, Shoulders, Chest & Back

 

Interval Cardio Training and Bicep Workout – Bicep Burnout!

Advantages of Working Out at Home

There are numerous benefits to working out at home using Fitness Blender videos as opposed to going to the gym.

Some of the benefits include:

• No costly gym membership
• Privacy and comfort of your own home
• No traveling to and from the gym
• No waiting to use equipment
• Convenience

I personally like being a home because I don’t have to go anywhere, and can be flexible when I’m doing my exercises. Even if I’m on the road, I can get a workout in because I’m not dependent on a lot of equipment.

I also like how I’m not paying for a gym membership, and can use my money for other uses.

Bodyweight exercises can be very beneficial for your strength and health. I love them and I hope you give them a shot!

Disadvantages of Working Out at Home

While there aren’t many, there are a few drawbacks to working out at home.

Some of the disadvantages include:

•  Limited equipment
•  Limited space
•  No personal help from trainer

For me, what I’ve realized is becoming self aware and listening to your body sometimes is more important than listening to what others are telling you.

While a trainer is good to understand what movements you need to make, now with the power of the internet, you can see what movements you need to make and then make tweaks over time to see what makes most sense for you.

Additional Tips For Working Out at Home

Below are some additional tips I recommend for working out at home.

• Remember to breathe. Sometimes when we’re working out we tend to hold our breath to help us complete the move.  Try to breath as normally as possible.
• The proper breathing pattern is to breath in during rest and breath out during exertion.  If you were doing a bicep curl, for example, breath in while your arm is straight, then breath out  when you flex.
• Always perform a warm-up before exercising, and a cool down/stretch after exercising. This minimizes the chance of injury or strain.
• Form and control is always more important than speed. In fact, performing the exercise slower and more deliberately will give you greater effect than moving as fast as you can.
• Never use momentum to complete a move.  Using momentum to perform the exercise isn’t nearly as effective as using your muscles.
• Don’t be afraid to take a rest when you need to.  If your form is suffering, you’re either going too hard or need to slow down.
• Keep a log to track how you’re doing, if you’re making improvements.

Hopefully these tips will be beneficial and helpful for you if you decide to give working out at home a try!

Will You Give Working Out at Home a Try?

It’s totally possible to get into shape without even stepping foot in a fancy gym.

Using Fitness Blender videos to work out gives you access to a variety of routines you can use to increase strength, lose weight and build muscle, all in the privacy of your own home.

And because they can be accessed on any device, as long as you have an internet connection, you can work out wherever you are!

The only thing you have to worry about is showing up and putting in the work.

You can do it!

Overcoming writer’s block in college can be challenging. The reason is that writing essay often takes too much time and effort, and you need to overcome all your difficulties before a particular deadline. These tips will help you fight your blocks in writing and cope with all your assignments within the shortest terms. 

Seek Support

Don’t be afraid to ask for help. Your college may have writing centers or tutors who can offer guidance and feedback on your writing. Moreover, there are many academic writing websites that can be extremely helpful, too. If you would like to get professional assistance for a reasonable price, writepaperfor.me discount code will allow you to decrease the final cost of your assignment significantly. 

 

Not to mention, it is always good to read the reviews of using different sites that provide academic assistance shared by other learners. For example, www.writingpapersucks.com/paperhelp-org-review/ will give you all the needed information about one of the popular writing services. 

 

Take a Break

Sometimes, pushing yourself too hard can make writer’s block worse. Step away from your writing for a short period. Go for a walk, do some exercise, or engage in a different activity to refresh your mind. This will help you get a clearer vision of what you need to write and how to do it in the most effective way. 

Try Freewriting

Set aside a specific amount of time, like 10-15 minutes, and write without any judgment or focus on grammar and structure. Let your thoughts flow naturally, even if they seem unrelated or nonsensical. Freewriting can help you loosen up and discover new ideas. Don’t worry about having mistakes or typos – your goal is to provide the main idea. You will polish all your writing imperfections later. 

Change Your Environment

If you typically write in your dorm room or a quiet library, try writing in a different location. A change of scenery can stimulate your creativity and inspire fresh ideas. For example, you can take your laptop and try writing in a cozy cafe nearby. The new environment often boosts your writing. 

Create an Outline

If you’re stuck on a particular assignment or essay, create an outline to organize your thoughts and ideas. Breaking the writing task into smaller, manageable sections can make it less daunting. It is important to mention that this technique is usually used by professional writers and experienced students. Don’t hesitate to try this solution, too. 

Write the Easy Parts First

You don’t need to always start with the introduction. If you begin writing the sections, you might feel more confident. This approach can help you build momentum to tackle the more challenging parts later. What is more, this method will give you the feeling that half of your job is already done. 

Talk to Others

Discuss your ideas and thoughts with friends, classmates, or professors. Verbalizing your ideas can help clarify your thoughts and may spark new insights. What is more, you can suddenly discover some important writing aspects that are critical for your type of assignment. The only thing you will need to do is to implement these aspects into your academic paper. 

Set Realistic Goals

Set achievable writing goals for each session, like writing a certain number of words or completing a section. Celebrate your accomplishments, even if they’re small. Positive reinforcement can motivate you to keep going.

Read and Research

Sometimes, reading related articles, books, or papers can inspire and trigger ideas for your own writing. Don’t plagiarize, but use the research to expand your understanding and find your unique angle.

Eliminate Distractions

Identify and minimize potential distractions while writing. Turn off your phone or use website blockers to avoid social media or other time-consuming websites. It is better to avoid scrolling your social media feed and turn off the notifications on receiving new messages. 

Practice Relaxation Techniques

Writer’s block can be linked to stress and anxiety. Practicing mindfulness or relaxation exercises can help calm your mind and reduce creative barriers. Joga, pilates, or breathing techniques are among the best alternatives to relax and make you feel calmer. 

Write In a Different Format

If you’re struggling with an academic paper, try expressing your ideas in a different format, such as bullet points, diagrams, or even a spoken-word recording. Sometimes changing the medium can free up your creativity.

 

Remember, writer’s block is a common experience for many writers, including college students. Be patient with yourself, and don’t be too hard on your writing. Try to compose the outline first, try freewriting, and begin with writing the easiest parts first. If you are feeling exhausted, changing your environment, taking a break, or communicating with your college friends might also help. Feel free to experiment with different techniques to find the best solutions to overcome writer’s block and produce excellent college work.