For many who want to expand their business, learn new ways to improve, or network, you'll need to travel. With expenses rising, you'll want to save as much as possible. Here are a few tips:
1. If you are traveling close to a friend, ask if you can bunk on their couch. Make sure to compensate them for the extra utilities they will use while hosting. If they won't accept money, try taking them out to dinner or mailing a care package after you return home.
2. Check websites for hotel deals. Priceline, Travelocity, Hotels.com, Booking.com, and Hotwire are just a few of the many sites you can book a hotel for less with. Groupon and LivingSocial also have some great deals on hotels, dining, and other traveling goodies. Do your homework and find the best deal.
3. To fly or to drive, that is the question. With gas prices rising, it might be cheaper to fly. www.drivingrouteplanner.com will help you pick out the route and give you the mileage to calculate how much it'll cost.
4. Keep track of all receipts so you can inform your accountant of travel expenses. The more you save, the better your net profit will be. Meals and entertainment only use 50% of what spent so keep that in mind.
5. Try to avoid busy traveling times such as holidays and spring break. All expenses will be higher. By using the slower traveling times, you'll save money and not have to deal with congestion in the hotels and airports.
I could go on and on about traveling but these are my top five tips. Happy travels!
Sunday, March 31, 2013
Sunday, February 3, 2013
Selling My First Home...and Hoping to Come Out on Top!
Many people tell you in life to try out new things and learn from them. Since I moved to Kansas City this summer, I tried the landlord business and rented out my first home. I did everything you're supposed to do: background check, previous landlord reference, made sure the home was clean and prepared for new tenants, and asked friends/family to keep an eye on the property in case of damage or trash. I rented to a young family with two children and all seemed well at the lease signing. Yes, I did create a legally binding lease to help ensure a constant twelve month income to supplement my mortgage. I spelled out all the terms and penalties for breaking a part of the lease and they understood. I got a call in November from the tenants saying they needed to move out immediately due to family problems. Since they signed a twelve month lease, I told them this was not going to happen without an approved subleaser. They vocalized that they understood but at the end of 2012, they were gone.
Despite my disappointment in the conversations with the tenants, I was glad to have that headache overwith and was ready to find a new tenant. When I checked out my home a couple weeks after they moved, it was heartbreaking. There was trash and disgusting furniture left in the home as well as some damage that I wasn't expecting. I had to purchase three doors, hard cleaning products, and some plumbing equipment. I had planned on remodeling the smaller bathroom anyway so this seemed like a great opportunity to get it done.
After assessing all the work that needed done before another tenant could move in, I had decided to put my home on the market and release the tie to my small town. In order to sell it, however, there would need to be some sweat and money. After purchasing the doors, my father and I went to see how we can get the bathroom updated. He seems optimistic and he knows his stuff after repairing older homes my whole life so I know I'm in good hands. I had originally wanted to expose all the hardwood in the home, but the condition is uncertain so we're going to keep the hardwood exposed in the bedrooms, and clean the carpets with a freshening aspect to keep it warm and inviting. Since the carpet is in great condition, there's no need to add more dollars with resurfacing hardwood.
Once all the minor upgrades are complete, then I can contact my real estate agent (who sold this home to me almost three years ago) and hope for a quick sell. I'm definitely going to research ways to keep my value of the home up with the least amount of cost. As long as I break even and get my money back from what I put into it, I'll be one happy camper. Here's hoping!
Despite my disappointment in the conversations with the tenants, I was glad to have that headache overwith and was ready to find a new tenant. When I checked out my home a couple weeks after they moved, it was heartbreaking. There was trash and disgusting furniture left in the home as well as some damage that I wasn't expecting. I had to purchase three doors, hard cleaning products, and some plumbing equipment. I had planned on remodeling the smaller bathroom anyway so this seemed like a great opportunity to get it done.
After assessing all the work that needed done before another tenant could move in, I had decided to put my home on the market and release the tie to my small town. In order to sell it, however, there would need to be some sweat and money. After purchasing the doors, my father and I went to see how we can get the bathroom updated. He seems optimistic and he knows his stuff after repairing older homes my whole life so I know I'm in good hands. I had originally wanted to expose all the hardwood in the home, but the condition is uncertain so we're going to keep the hardwood exposed in the bedrooms, and clean the carpets with a freshening aspect to keep it warm and inviting. Since the carpet is in great condition, there's no need to add more dollars with resurfacing hardwood.
Once all the minor upgrades are complete, then I can contact my real estate agent (who sold this home to me almost three years ago) and hope for a quick sell. I'm definitely going to research ways to keep my value of the home up with the least amount of cost. As long as I break even and get my money back from what I put into it, I'll be one happy camper. Here's hoping!
Tuesday, January 1, 2013
Welcome 2013! The year of decisions
Even though I didn't make it to midnight, 2013 was heard all around the world. 2012 brought lots of change in my life so 2013 is going to mean decisions. Instead of resolutions, I make goals. First one is to reduce debt, especially revolving debt with high interest rates. Second one is to build equity. My current rental home is in need of updating and I'll be making extra payments to reduce the loan amount. Third one is to build savings. Emergency savings is the first goal followed by a fun savings for vacations and personal luxuries. Last one is travel. Since I'll be focusing a lot on reducing debt, I want to get my passport and make a couple small trips to enjoy 2013. One of which is a trip to El Paso to see a friend. Since I couldn't go to North Carolina in December (due to medical debt), I'm going to make that happen in 2013 for sure.
Bring it on!
Bring it on!
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