The frugal genius

Homeownership is typically something that people all across the world strive for. A place to call their own and settle down while making their home whatever they want. For years, having a home has been thought of in a positive light and as a good investment in your life. Learning why buying a house is a bad investment may save you both time and money in the long run. Let’s dive deeper into why.

Once you figure out how to make your money work for you, you can start to build wealth and live the life that you’ve always dreamed of. While putting your money to work for you will help you to build wealth, this isn’t an overnight process. The bottom line is that building wealth is the key to a stable financial future, so using proven methods to do it over the long term is the smart, responsible way to approach it. Here are the top 7 ways to make your money work for you.

The nation’s wealth has always been concentrated in the top 1% and this has only grown more in the last few years. Sentiments of a dying middle-class show just how far some believe this divide has gone. It is well known that higher-income households seem to dramatically lower their taxes, despite the fact that one would expect taxes to be higher. This begs the question, how do the rich and wealthy legally avoid paying taxes?

Saving money on a low income can seem impossible. How are you supposed to save if you are barely scraping by? Don’t let this train of thought hamper your savings goals. Retirement, buying a house, and paying off debt doesn’t have to be something that you put off. There are some ways that you can save money even if you don’t make much money.

Being good with money is not just about paying your bills on time. The truth is, life is so much easier when you have adequate financial skills. Your credit score, how likely you are to get approved for a mortgage, and your financial future are all dependent on how you handle your money now. It’s time to start improving your money habits and discover the proper ways on how to manage your money.

10,000 may seem like an arbitrary number, but it is, in fact, a big milestone on your financial journey. Saving five figures shows that you were willing to make major lifestyle changes to reach your goals.  Over 47% of Americans do not have enough money on hand to cover a $400 emergency. This is a staggering number. To prevent financial ruin when an emergency hits, it’s critical to save three to six months of living expenses. 

Frugal living means that you’re aware of your spending and intentional with what you buy. Essentially, you are buying the things that you either need or matter to you most while cutting back in other areas. We’ve compiled the top frugal living tips to help you find financial freedom.

Overspending can lead to credit card debt, low savings, an un-prioritized retirement plan, and missed opportunities to allocate saved cash to investments which can then yield a higher return on your money. Ill leave a link to a free easy to use monthly budget spreadsheet and saving tracker in the description below. So feel free to download the spreadsheet to start tracking your monthly finances. 13 POWERFUL Tips On How To STOP overspending & Start Saving Money.

Anyone born between 1981 and 1996 is considered a Millennial but if you’re older or younger, not to worry this video is still applies to you. Long-term investing with dividends is one of the most reliable methods for building passive income in 2020 and long-term wealth. 

In today’s podcast we are going to go over why you SHOULD NOT wait to refinance your home mortgage. I know the thought of going through a refinance process can be a little overwhelming, but this podcast should.