Why Beneficiary Designation Forms are so Important

Let’s imagine a quick scenario: Bob is a newlywed who starts a new job with great benefits. During the hiring process, he signs up for the life insurance policy offered through his company. As a beneficiary for this policy, he designates his spouse, Amy. Time passes, Amy and Bob get a divorce, and Bob gets remarried to Lisa. Years go by and eventually Bob dies, leaving behind his life insurance. When Lisa goes to collect on Bob’s life insurance policy, the insurance company informs her that she is not the beneficiary of his policy. Instead, the money will go to his first wife, Amy. Despite his divorce, Bob never went back to change his beneficiary designation forms. This is unfortunately a common legal issue for people who have been divorced, separated, or remarried.

These beneficiary designation forms are typically included in the paperwork you fill out the first week at a new job. As a new employee, you will have the option to fill out designation forms for your potential retirement assets, including 401(k) or IRA, your life insurance policy, and other benefits. Contrary to popular belief, these beneficiary designation forms legally override any existing will or trust, regardless of which document is most recent. It is easy to forget about beneficiary designation forms while going through the ups and downs of life. Years can pass, and despite many changes in your personal life, you may never think to go back and updated these documents. This is a huge mistake, especially because it is so easily resolved.

We at Veitengruber Law want to stress the importance of changing these documents whenever your circumstances call for it. Some states even have laws protecting insurance policy holders and their loved ones from these oversights, but the legal importance placed on beneficiary designation forms can lead to problems even in these instances. In Minnesota, for example, there is a revocation-on-divorce statue currently under review in the Supreme Court and the fate of cases affected by this statue hangs in the balance. Regardless of the laws in your state, be proactive and protect yourself and your loved ones by ensuring your assets are designated correctly.

Veitengruber Law recommends doing a periodic self-audit to assess your preparedness in these events. Do you have a 401(k), IRA, or other retirement assets? Do you have a life insurance policy? Who is listed as the beneficiary for these assets? If you find that you do have some changes to make in who is designated as the beneficiary on these forms, don’t wait to change them. Life can change abruptly and unexpectedly, so make sure you are prepared today for whatever comes tomorrow.

The last thing you want is for your loved ones to become entrenched in a legal battle after you are gone. For most of us, our loved ones are at the forefront of our thoughts as we plan for the future. If you have retirement benefits or a life insurance policy, make sure you are including updated beneficiary designation forms in your plans for the future.

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What is a Business Credit Score and How Important is it?

Whether you know it or not, if your business has a business credit card, you also have a credit report. This may be completely new to you, or maybe you’re just trying to find a bit more out about what exactly a business credit score entails. Either way, you’re in the right place, so keep reading!

What is a business credit score?

It’s the key to your business’s financial success. If you’re familiar with a personal credit score, such as a FICO credit score, it’s similar to this. In most cases, it’s a number between 1 and 100 that represents your business’s creditworthiness. Your score tells institutions whether or not they should lend your business money and how much they should be lending. They can also discern how likely you are to repay them in a timely fashion. A higher number on your credit score represents a strong history of taking out loans and repaying them on time.

Why do I need a business credit score?

Most likely, if you’ve just started a business, you’re using your personal credit to get the ball rolling. Using your personal credit indefinitely may not be the best decision for your business. Here are a few examples as to why establishing a business credit score is beneficial:

  • Easier to obtain financing: If you are able to establish a business credit score, it will easier to obtain a loan or line of credit in the future.
  • Potentially lower insurance policy rates: Insurance rates will rise as your business flourishes, but with a superb business credit score, these rates may be lower.
  • Separation of business and personal finances: By creating a credit profile for your business, you’ve added a degree of separation between personal and business finances. This makes it easier to track expenses for the purpose of taxes. Also, you won’t have to worry about personal finances, expenses, and debts intermingling with business finances.
  • Increased borrowing power: Larger amounts of financing may be easier to get if you have a decent business credit profile.

Establishing and growing business credit can reap remarkable benefits and financial advantages for a company. With a notable credit profile, businesses have a better chance at leasing equipment, securing lines of credit, obtaining a company vehicle, and getting a business credit card or loan without compromising personal credit.

Finally, it’s important that you know exactly what affects your credit score.

  • Payment history: Likely the most obvious factor, it’s crucial that you make payments on time and for the correct amounts. A string of late or missed payments will result in a lower credit score.
  • Length of credit history: A well-established line of credit is going to create the best credit score. Even if you have a history of a few missed or late payments, this is better than a short or nonexistent credit history.
  • Company size: Though this may vary, some lenders prefer not to lend to businesses of a certain size.
  • Credit utilization ratio: If you max out on all lines of credit every month, this will send a signal to lenders. Essentially, you want to be aware of how much you owe on current credit lines in relation to their limits.
  • Risk Factors: Some businesses possess risks simply based on their industry. For example, a business located in a town with a low population density may be considered high risk in comparison to a business in a highly populated location.
  • Public Records: Filing for bankruptcy or a history of civil judgments or tax liens against a business have proven detrimental. Since these are public, anyone can view this information.

Like many financial matters, credit scores are constantly changing, some of which is in your control and some is not. By focusing on what you can control and knowing what you can’t, you will be a more effective business owner. A commitment to striving for a great credit score will provide opportunities for improved financing, increased cash flow, and better business breaks.

Reverse Mortgage Foreclosures: Can They Be Stopped?

nj reverse mortgage

What are reverse mortgages?

Reverse mortgages allow homeowners ages 62 and up to borrow against the equity of their primary residence to receive a loan in the form of either a revenue stream or a lump sum of money from their lender. In order to be eligible for a reverse mortgage, homeowners must first meet a few basic requirements.

The homeowner(s) have to be at least 62 years old and either own their home outright or have a very strong equity built up and owe very little on their mortgage. They must also occupy their home as their primary residence and hold the title to their home. While they typically get a bad rap, reverse mortgages oftentimes provide senior citizens with a valuable and much-needed source of funding to assist with a wide variety of needs that can occur with aging.

Some common reasons seniors seek reverse mortgages are to:

  • Finance a child’s college education
  • Pay for necessary medical expenses and bills
  • Fund home repairs and remodels
  • Supplement social security income to maintain an adequate standard of living throughout retirement.

It is worth noting that while the homeowner gets to remain living in their home and keep the title to the home as collateral, they are still required to pay all necessary taxes, property maintenance and repair costs, homeowner’s insurance payments, and interest and fees on their loan.

What happens if circumstances change?

While reverse mortgages can be a feasible and even financially sound option for certain people, there are some potential pitfalls to take into consideration before ever opting for a reverse mortgage in the first place. It is important to understand the specifics of what you are undertaking as a homeowner. For instance, a reverse mortgage is immediately owed back to the lender upon the occurrence of any of the following circumstances:

  • The borrower(s) decide to transfer the title or sell the home and succeed in doing so.
  • The borrower(s) reside elsewhere for over a year, thereby relinquishing the primary residence status of the home in the eyes of the lender.
  • The borrower(s) fail to meet the terms and conditions of the mortgage; for instance falling delinquent in homeowner’s dues or property taxes, or allowing the condition of the property to substantially deteriorate.
  • The borrower(s) pass away.

If in the near future you are considering moving, living away from your home for more than a year, or if you currently have a terminal illness, you may want to look into alternatives to a reverse mortgage so that you do not leave your loved ones in a bad financial situation upon your departure.

IMPORTANT NOTE: Once the reverse mortgage becomes due for any of the aforementioned reasons, the homeowner(s) (or their heirs) are legally liable to pay back the lender in full, including any applicable taxes and fees.

Can a reverse mortgage foreclosure really be stopped?

If you find yourself or your loved ones on the verge of a reverse mortgage foreclosure, you are not entirely without viable options. Contact a NJ real estate lawyer or foreclosure defense attorney who can help determine if you are eligible for a reputable loan modification on the reverse mortgage. There is also the option of selling the property yourself or allowing a relative or friend to pay off the remaining balance owed on your reverse mortgage.

A real estate attorney with experience in NJ reverse mortgage foreclosures will be best equipped to help answer any questions you may have and help you weigh the pros and cons of all your options. They will walk you through every step of the decision-making process with the end goal of ultimately helping you avoid a reverse mortgage foreclosure.

Facing NJ Foreclosure? Why You NEED a Foreclosure Defense Attorney

nj foreclosure defense attorney

If you’re facing foreclosure proceedings, it can seem like the worst has already happened to you. In such circumstances, some New Jersey homeowners elect to represent themselves (via filing a pro se answer), skipping meeting with a foreclosure defense attorney at all. The question sometimes seems to be why someone who has already begun to lose their home would need—or choose to spend money on—a foreclosure defense attorney?


You NEED a foreclosure defense attorney in New Jersey!


 

The frank truth is that a defendant who chooses to file a pro se answer is almost certainly wasting both their time and their money at a time when both are most needed. New Jersey Court Rules that speak to mortgage foreclosure are wholly different from those governing other matters, so an individual’s or family’s attorney (who specializes in other areas of the law) may not be able to provide adequate legal advice in such cases.

Did you know that having a modified home loan isn’t a valid defense against foreclosure in New Jersey? So even if you’ve already rearranged your finances and have come to an agreement with the holder of your loan (good luck with that), the court is really only interested in the agreement you had, how much you owed, and the legal right of the plaintiff to foreclose on  you. If you’re expecting compassion and empathy when you get to court, think again.

There are even times when a homeowner HAS had valid legal ground on which they could have based a strong defense, yet due to their lack of information, they have missed this life-altering opportunity entirely. Instead of saving their homes, they have lost their opportunity to influence the foreclosure proceedings at all.

Occasionally, defendants may look through prior foreclosure case outcomes here in New Jersey and conclude that a foreclosure filed this year will follow the same trajectory, from legal hurdles that must be cleared to causes of delays. However, the cause of delays and catalysts for prior successful defense can be entirely different now than they were even five years ago. Furthermore, a competent review of such cases often reveals that mitigating factors were not at all what a lay defendant has taken them to be, thus a defense based on the factors the cases may have in common is not going to prove at all helpful.

If you’re looking for legal advice online, skip the dubious sources of information and instead connect directly to our experienced New Jersey foreclosure defense attorneys.

At the writing of this article, there are no active delays in place that would serve to restrain a foreclosure plaintiff seeking judgment.

Defendants in New Jersey foreclosure cases should not develop their own defense strategies. We absolutely recommend meeting with an experienced foreclosure defense attorney who can ensure that any actions taken are in their client’s best interest.

In particular, we must reiterate that attempting to navigate the New Jersey Court Rules and New Jersey foreclosure laws is always an error that can only consume your time, your money, and perhaps your opportunity to save your home.

By contrast, meeting with an experienced foreclosure attorney can result in you having more options, a full understanding of the impact of each of these options on your finances long-term, and the peace of mind that comes along with knowing you’ve protected yourself. The legal system is not designed to take care of you; that’s our job.

How Financial Stress Affects Your Health

Would you be surprised if someone diagnosed your change of appetite, difficulty sleeping, and incessant headaches as symptoms of financial stress? It might be a hard pill to swallow, but your financial stress can have a tremendous impact on your health.  According to a survey published by the American Psychological Association in 2017, 62% of Americans reported being stressed about finances. Unbelievably, financial stress can cause companies upwards of $520,000 per year! You’re probably asking “why?”


Are you aware of the impact of stress on the human mind and body? You’re about to find out.


Financial stress, and many other kinds of stress, can have a negative impact on your health. There is a positive, temporary response to stress, and that is known as the “fight-or-flight” response. Preparing to run a race, giving a presentation, performing, and being involved in a dangerous situation are all examples of when your body is going to react with the “fight-or-flight” response, or adrenaline rush. Heart rate quickens, pupils dilate, brain functions heighten, and oxygen intake increases as your body reacts to the scenario. This is helpful in the short-term, but in the long run, on the other hand, it can become extremely harmful.

If these stressors are present over a long period of time, other health issues will manifest. Have you ever heard of heart disease? That’s a rhetorical question, since it’s the leading cause of death in the United States for both men and women. Guess what? Chronic stress is one of the main contributing factors to heart disease (along with a poor diet and lack of exercise). Not only is heart disease intensified by stress, but migraines, sexual dysfunction, asthma, gastrointestinal issues, high blood pressure, diabetes, general pain, stomach ulcers and many other health complications are also correlated with stress – money worries in particular.

We know that when you’re stressed, you’re more likely to make decisions that aren’t always the best. But when you accidentally, or purposefully, make a choice that ends up being detrimental, stress will follow. For example, the fear of not being able to pay next month’s mortgage bill can initiate symptoms of depression or PTSD. In turn, this can lead to even more issues with budgeting and over-spending (like racking up your credit card balance to make yourself “feel better”), which only exacerbates symptoms.

In the same way that stress exacerbates physical issues, it can also aggravate psychological problems such as anxiety, sleep disorders, depression, anger issues, and hopelessness. About 10% of high-earning individuals experience 2 to 3 indicators of depression, in comparison with 23% of low-earning individuals. Pair together financial stress and depression, and you’ve got a crippling combination. It definitely isn’t a recipe for productive and satisfied employees. Each day it seems that employee health is worsening, so it’s crucial that employees, managers, and health care professionals work to decrease stress levels and improve coping skills.

Although many of us brush off money worries, the physiological effects actually make sense. How can your body thrive if it’s constantly being beaten down with the incessant worry of money troubles? Simply put: it can’t. The physiological response of the body to stress is so immense that physical and mental health quickly begins to suffer. The lower classes of America undoubtedly experience the effects of financial stress, but studies show that financial worries also plague middle and upper class individuals.

In the United States, approximately 75 to 90% of all doctor’s visits are stress-related medical issues according to The Journal of the American Osteopathic Association. We know that stress causes plenty of medical issues, but some of that can be attributed to unhealthy coping skills. When people are stressed, they tend to resort to unhealthy coping behaviors such as overeating, overconsumption of alcohol, etc., which only worsens other medical problems. Stress management techniques such as exercise, deep breathing, and meditation are all effective ways to lower stress levels.

The heaviness of financial stress can weigh you down, but it’s important that you and those around you find successful ways to decrease stress levels and develop helpful coping skills. Lifting such a weighty burden requires intelligent money management and more important, stress management.

Self-Employment Budgeting Tips

nj asset management

When you’re not working a 9-5 job with a stable, predictable salary dispensed into your bank account on a set schedule, budgeting for recurring monthly expenses can be a bit tricky. While being self-employed can afford you the freedom to work flexible hours, have a varied office location and the ability to do something you love, it does not always provide the easiest and most consistent stream of income to rely on. This is where careful, diligent budgeting comes in handy.

 

1) Always budget for the necessities first!

While you are most certainly deserving of a dreamy resort vacation this summer, that doesn’t mean it qualifies as a necessity, as your vacation can easily be delayed until you can truly afford it. Necessities solely include staples like your rent or mortgage payment; groceries, gas, medical insurance, car insurance and car payment or other required transportation costs; utilities like electricity, phone, internet, water, sewer and garbage. It is also critical that you budget for your income taxes, as they will no longer be automatically deducted from your income. Anything else not featured on the aforementioned list does not qualify as a necessity and therefore you can live without it and save up for it before purchasing it.

 

2) Establish an emergency fund.

If you haven’t done so already, creating an emergency fund that has enough money to sustain 3-6 months worth of your necessary expenses is an absolute must for the self-employed. Not only does this provide you with added financial security and stability, it also buys you time to find a new job or side gigs if your self-employment opportunity does not prove lucrative enough to afford your expenses.

 

3) Once you have your emergency fund in place and have mastered budgeting comfortably for the necessities and have some wiggle room left over in your budget each month, you can start budgeting for “little luxuries.”

When I say little luxuries, I mean just that. Not living large, but treating yourself to small and affordable indulgences in moderation but on a regular basis. This may include something as mundane as ordering a Netflix subscription and Chinese takeout once a month, or something as exhilarating as a night out at a rock climbing gym with friends depending on your tastes and interests.


Pro tip: seek out experiential luxuries whenever possible as they don’t generate physical clutter that you’ll have to deal with down the road. The memories you’ll gain are much more valuable in the long run.


 

4) Think big: now that you’re managing all your monthly expenses (including little luxuries) like a pro and have a solid emergency fund in place, it’s time to consider your long-term financial goals.

When you’re self-employed, saving for retirement is even more important than it is for your peers who participate in employer-sponsored retirement programs. Given that you don’t have the opportunity to participate in employer-based matching programs, you will need to be proactive and learn to not only save diligently toward your retirement fund, but also actively invest your money wisely to make it work for you. There are tons of great retirement-planning resources available online, but if you’re feeling overwhelmed at the prospect of managing your own retirement accounts, consider consulting with a local retirement specialist who can help get you on the right track. If you’re more concerned about meeting more immediate financial goals like purchasing a home or a new vehicle (or even that resort vacation), a financial planner will be able to help you adequately allocate funds for each important goal while still contributing to your retirement so that it can continue to grow as you meet your other major milestones.

Veitengruber Law can guide you through your NJ asset management needs as you get older; with advances in medical care extending life expectancies, you may be facing difficult choices over health care and your legacy. We also have close relationships with expert financial planners and NJ CPAs with whom we are happy to connect you.

Budgeting Basics

Creating a budget is certainly not a walk in the park. Budgeting is an ongoing process and for most people, your budget has the possibility of changing from month to month. Your first try won’t be perfect, but don’t get discouraged.  As with most things in life, the more you practice budgeting, the better you’ll get. Once you figure out a flexible and successful process that works for you, you’ll be ready to go! Before you start, make sure you have 30 to 45 minutes set aside to work through each step. Let’s get started!

Income

Let’s begin at the most obvious place: your income. As we all know, your income is going to determine your budget, or in other words, how much money you have to spend. Your income can come from a variety of sources: your main day-to-day job, side jobs, child support, or even rental properties. It includes any source that brings money into your household each month. To start creating your budget, record the total amount of money that you’re making.

It’s important to take taxes into account, so make sure you’re recording your monetary income post-taxes. Some people refer to this as your “take home pay.” If you’re married, you’ll potentially be combining your incomes, so record them on the same budget.

Plenty of people are self-employed, which makes a budget all the more important. Your month-to-month income may be unpredictable depending on your business. If you have no reason to believe that your income will significantly drop in the upcoming month, average your monthly income for the last 3 months and use that for monthly income.

Expenses

The next part (that no one likes to think about) is what you spend your money on. Though expenses have their own categories, you always have regular “offenders” every month like your utilities, mortgage, or car payment. Sometimes utilities can sway a bit from month to month, but in general, they stay consistent.

You can’t forget about the other necessities like groceries, gas, clothing, household necessities, and other miscellaneous items. For your budget, it’s important to take into consideration everything that is going to require money. Depending on your family’s spending lifestyle, do you need to add or delete any categories? Think about this before moving on to the next step.

Set Priorities

Maybe you have student loans to pay off or maybe you and your spouse have a baby on the way. No matter what situation you find yourself in, your budget health relies on how well you prioritize.

  • Groceries: You have to feed you and your family, so first and foremost, set aside enough money for food. This should come before you worry about other bills. You may have to adjust it a bit depending on other expenses.
  • Utilities (Electric, Water): You have to keep the water running and the lights on, so these should take next priority. You might be asking, “isn’t my mortgage more important?” Well, living in a house without lights or water is no fun. The utility company won’t wait to turn your water and electric off if you don’t pay them. You tend to have slightly more leeway with your mortgage payment.
  • Mortgage or Rent: Don’t put this off unless it’s a dire emergency. Stay on top of it and don’t let it slip to the bottom of the pile!
  • Gas/Fuel: You have to put gas in the car to get to work, and if you can’t get to work, well, you’re not going to need a budget. (This is not a good thing!) Pay the monthly car payment and keep some gas in the tank. Tip: Be smart about your trips or try carpooling.
  • Clothing: You need to look appropriate at work and the kids need to be dressed for school, so if you’re only spending money on necessary clothing, that’s great! Don’t feel required to buy name brand clothing or accessories.

Once you’ve covered these 5 categories, you can move on to other sections of your budget that may vary from person to person. If you still have money left in your budget, you can include things like: Date Night, Cable, Family Entertainment, and other fun categories that should only be a part of your budget if you can afford to spend real money on them (not credit).

Final Touches

Many websites have free budgeting templates that will get you started. These make it pretty easy to figure out spending for monthly bills, since they don’t change much. You will have to make an estimate for gas and groceries. We suggest looking over your spending for those categories throughout the past couple of months and then finding an average. It doesn’t have to be perfect, but you do want the most accurate idea of where your money will need to go.

Once you’ve figured out your grand total of expenses, you want to make sure that it doesn’t add up to more than your total income. If you end with a negative number, you’ll need to go back through and see what unnecessary spending can be cut out. If Income – Expenses = $0, you’ve successfully created your first budget! Some people prefer to have their final number greater than $0, just to provide a little wiggle room. This is naturally preferable so that you can begin to build up a small savings.

As you go through the next few weeks, chances are, you will have to make some edits to your budget. This is more than okay. Remember, it’s a process and it takes time to figure out. Don’t be discouraged at the thought of having to create a budget; instead be proud of yourself for taking a step towards managing your money skillfully.

Top Ten Money Saving Tips for Healthier Living

Cut coffee out of your budget (or at least brew it at home!)

If you have a daily caffeine habit you’d like to kick, let all the money you’ll save by cutting it out of your daily routine serve as an extra incentive to help you achieve that goal! However, if you are among the lucky folks who can enjoy coffee in moderation, there’s no need to deprive yourself even from a daily coffee habit. Just try to avoid coffee stands and restaurants where coffee is costly. Instead, consider investing in a home coffee machine like a cartridge coffee maker or an espresso maker, a reusable travel mug and even a milk frother if you prefer more gourmet-style drinks. These fancy gadgets can be more affordable than you think and will easily pay for themselves within a month or two if you’re a regular coffee drinker. Home coffee makers are convenient and easy to use, and reusing your own mug everyday also has a positive impact on reducing your carbon footprint to help protect the environment.

 

Clip online coupons from the convenience of your home computer

When people think about clipping coupons, it often sounds tedious to go through the newspaper and find relevant coupons each week. However, there are dozens of reputable websites online that offer both printable coupons that can be used in-store and coupon codes that can be used at online retailers. Anytime you’re about to make an online purchase, be sure to search your favorite coupon sites like Retail Me Not or Coupons.com to make sure you’re not eligible for any additional savings, a free gift or free shipping before committing to a purchase.

 

Seek out deep discounts at the grocery store

Did you know that every grocery store puts items on sale that aren’t even advertised in their weekly circular? That’s right! By knowing where to look you can save yourself even more money on your weekly grocery bill. If you’re looking for a dinner to cook the same night you shop, check out the butcher’s counter or the deli counter for discounted items that are close to their expiration date. There is absolutely nothing wrong with the reduced price food items, but they need to be prepared and consumed within a day or two in order to be guaranteed fresh. Many grocery stores also have a clearance section filled with pre-packaged, non-perishable and often seasonal items (think organic Easter candy!) they are closing out.

 

Cook and meal prep at home more to avoid buying lunches out

While eating out can be a fun experience to occasionally treat yourself to, eating out regularly can really dent your budget and your health! Even cheap fast food meals add up quickly, not to mention they aren’t the healthiest options with which to fuel your body. By always bringing a lunch and/or snacks to school or work you will be less likely to succumb to the temptation of eating out or pulling up to the drive-through window when hunger hits. Bringing lunch from home will save you a ton of money over the course of a year and even over the course of a month.

 

Cut back on trips to the salon by DIY

While treating yourself to an occasional trip to the salon should not be forbidden, try to limit the number of times you go to the salon every year. By purchasing a couple bottles of nail polish in your favorite colors and investing in a good quality nail file, with a little practice you can often achieve a salon-quality result at home. Recruit your best friend or significant other to trim your hair between salon haircuts. You can also successfully deep condition your own hair at home and even color your own hair at home for a fraction of the cost if you have a willing helper and a little patience.

 

Call your cable, internet and phone service providers to negotiate a discounted rate—whether you’re a new customer or not!

If you’re in the market to switch companies, now is the time to capitalize on the new customer discounts! Make sure to always inquire about their new customer rates any time you switch service providers. However, even if you’re an existing customer, it’s always worthwhile to call your providers periodically and ask them about any current promotions in your area and customer loyalty specials. You’d be surprised by the amount of money you can save just by asking.

 

Review your insurance policies

Call your insurance company to find out if you’re eligible for any multi-policy or multi-car discounts, non-commuter policies and safe driver discounts. If you have teenagers behind the wheel, ask if your insurance company offers a discounted rate for good grades. Your insurance company may also offer a discount for having extra safety features on your vehicle.

 

DIY your own all-natural cleaning products

Chemical cleaning products are not only expensive, they are also bad for your health! There are several inexpensive and effective alternatives that are much safer than most pre-made cleaning products you can buy at the store. Baking soda, vinegar and hydrogen peroxide are all extremely affordable cleaning staples that you likely already have on hand in your pantry or medicine cabinet that can be used as key ingredients to make multiple cleaning products (think window cleaner, dishwasher tablets, toilet cleaner, etc.) easily and at a fraction of the cost of what you would pay to purchase each product individually. There are many informative video tutorials available online that will walk you through how to make your own all-natural cleaning products from scratch. After you’re done making your own products, you will have a powerful, safe and effective arsenal of cleaning products at your disposal.

 

Use apps to find the lowest gas prices

There are so many free and inexpensive apps that can help consumers uncover extra savings nowadays, even on necessities like gas! Special gas tracker apps find the lowest prices in real time and even show you where the gas stations are located on a map. This is a great option if you live in or nearby a city with multiple gas stations to choose from. Prices are always changing, so be sure to check before you fill up your tank each time.

 

Try consignment shops for clothing—buy, sell and trade!

Consignment shops are a great way to save on high-quality, gently used and sometimes even never-been-worn clothing. Even if you’re not in the market to purchase any new clothes, consider consigning, trading or selling your gently used clothes to a consignment shop to earn some extra cash and clear some clutter out of your closet while you’re at it!