VW confirms Aussie cars to be recalled

VOLKSWAGEN has confirmed it will recall approximately 90,000 cars in Australia to fix software designed to cheat diesel emissions tests.

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Glencore to make tough decisions

MINING giant Glencore says Australian coal mines will be shut down if the long downturn in commodity prices makes them unprofitable.

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When is leather not leather? Ask Ikea

IKEA’S “leather” couches, ‘flushable’ wipes put to the blender test and a $50 magical laundry machine ball that’s as worse than washing in plain water. Australia, you’ve been duped.

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Cheaper spirits to come from TPP

PRICES of some popular imported spirits are set to fall as their tariffs are abolished under the new Trans-Pacific Partnership.

Source NEWS.com.au | Business http://ift.tt/1OkBXqF

How to Invest $500,000 Without Blowing It

“Jeff, we have $500,000 and have no idea how to invest it”.

I admit, having $500,000 sitting in a checking out earning little to no interest is one of those “good problems to have”.

But if you find yourself in this situation, and have a level head on your shoulders, it can be a very overwhelming.

This was the exact case for a recent client of mine.

An aunt who had no children left her only nephew and his wife a $500,000 inheritance.

The couple, never really having invested before, were terrified they would invest the money poorly and loose it all.

That wasn’t going to happen on my watch.  

Here were the basic principles I explained to them and how I would talk to anyone else that was seeking the best way to invest $500,000.

1. Don’t Tell Anyone You Have It – And Don’t Brag About It!

It’s unfortunate that anytime anyone falls into money, they suddenly have a all kinds of new friends that they never had before. You may even find that some long-lost family members come poking around looking to “rekindle” a relationship that never even existed in the first place..

Money can bring out the worst in people, that’s why the fewer people you inform about your windfall, the better your life will be. Everyone will be looking for a handout, and that will leave you with one of two lousy outcomes:

1. Either you will meet every request – until your windfall is gone, or
2. You will alienate a lot of people who think that your windfall is something that needs to be shared.

You can avoid that whole mess by keeping your mouth shut about your new-found wealth.

2. Payoff Any “Bad Debt” You Have

Most debt falls under varying degrees of bad debt, so a case can be made for paying off all of your debt once and for all. But that’s far too general, and it ignores the benefits that some debts provide.

That said, I recommend this debt-payoff pecking order:

• Loans from family and friends. This is more about personal responsibility than it is about financial sense, if only because people often forget they even have these loans. But if you do, now is your chance to pay them off, and secure/protect your relationships. Some things are more important than money, and this is certainly one of them.
• Credit cards and other unsecured debts. Pay them off. That includes a home equity line of credit (HELOC) on your house. HELOCs aren’t virtuous – they’re just gigantic credit cards secured by your home. No further discussion is necessary.
• Student loans. The only way to make these go away is to pay them off, so get to it. Even if you have a low interest rate, these are just big, fat unsecured debts, and for that reason you need to make them history in your life. You’ll feel worse than awful if you somehow blow your half-million dollar stash before paying these off.
• Car Loans – Maybe. If you use your vehicle for business and it’s a tax write off, or if you’re within two years of paying it off anyway, a case could be made for keeping it open. Otherwise, pay it off.
• Your Mortgage – An even bigger Maybe. Since a house is a very LONG term asset, a mortgage actually makes sense, particularly if you’re getting a generous tax deduction in the process. However, if your mortgage is of the exotic variety – interest only, an ARM, a balloon, or a sub-prime – ditch it. You don’t need any of that uncertainty in your life.

3. Make a One-Time, Big-Time Charitable Contribution

To fully appreciate having big money, you first have to prove to yourself that it doesn’t own you. That means giving some of it away, and doing it as early as possible.

I’m a Christian, so for me that means making a tithe. That involves donating 10% of my increase to furthering the Gospel of Jesus Christ. If you’re a Christian, I recommend doing the same.

It’s easy to pretend that this biblical directive doesn’t apply to windfalls, but it actually does. It’s all about “walking the walk” of your faith walk. As it says in the Good Book,

“From everyone who has been given much, much will be required…” – Luke 12:48 (NASB).

You’re rich now, so the giving bar has just been raised in your life.

If you’re not a Christian there are all kinds of needs all around. Pick your favorite charity, or group of charities, and be generous. This is your chance to make a difference. It’s about helping others when you’ve been richly blessed, and also about exercising your mastery over your money.

And I can tell you from experience that it’ll feel pretty darned good too…

4. Decide What Kind of Life You Want to Create

In previous posts on this topic, I recommended doing nothing as the first, best way to handle a large windfall. That will give you time to come to grips with your newfound fortune, and hopefully to make better decisions on what to do about with it. But I’ve refined that recommendation a bit, and think that it will be better if you spend that doing-nothing time thinking deeply about what kind of life you want to create for yourself and for your family.

Here’s the thing…a windfall of $50,000 can do a lot to improve your finances. Unfortunately, that kind of money probably won’t be a game-changer in your life. But $500,000 – I’m sure you get where I’m going with this.

This kind of windfall creates all kinds of new options. And let’s face it, that kind of money probably won’t come more than once in your life. For that reason, you should think seriously about how the money can best be used to create the kind of life that you may have only dreamed of up until this point.

Exactly how that will play out will be different for everyone, but here are some directions that are well worth pondering:

• Do you want to retire, as in right now?
• Do you have other assets or passive income sources that will make that possible? Or can you make it happen on $500,000 alone?
• Do you want to change careers, and do work that you totally enjoy, even if it doesn’t pay the kind of money you have been getting up to this point?
• Do you want to live in a radically different place, like on a farm, or even in a foreign country?
• Do you want to start a business?
• Is there a dream that you’ve always wanted to pursue, but couldn’t because of financial limitations?

Coming into $500,000 means that you can dare to dream. And you should, because that kind of money can make dreams come true. The choice you make will affect everything else you do with the money, which why this hurdle has to be crossed early.

5. Do Some Deep Soul-Searching About Your Risk Tolerance

This step is important because you will likely invest most of the windfall, and you have to decide in advance how much risk you are willing to live with in the process.

More than anything else, risk tolerance is about how you will feel and react to the loss of a significant portion of your wealth. It might be best to start with the assumption that you will invest 100% of your $500,000 in the stock market. Then ask yourself how you will feel if your portfolio falls by 10%, 20%, 50% or even more.

Given the performance of the stock market over the past 15 years, it’s not unreasonable to assume a loss of 50%. If that kind of loss really troubles you, then you will have to keep only a minority of your money in the stock market.

For example, if you would be okay with a 10% loss, you probably don’t want to invest any more than 20% of your money in stocks. This is because a 50% loss on a 20% stock position will translate into a 10% loss on your entire portfolio.

You need to address this issue before investing any of your windfall in risky investments.

6. Emphasize Safety of Principal

In #4 above I said that a $500,000 windfall is a game changer when it comes to creating a life for yourself. But it’s also a game changer when it comes to investing your money. If you are a new investor with say, $10,000 to invest, you might want to invest the money aggressively so that you can grow it. But when you have $500,000, you have a lot to lose.

That idea needs to dominate your investment strategy. That’s why safety of principal becomes more important as your wealth grows. For that reason, you should emphasize fixed income type assets.

Here are some that I really like:

• Set up a generous emergency fund. I’m talking about up to 24 months of living expenses here, so that no matter what happens you’ll be covered in the short-run. You can earn some decent rates of return with either high-yield money market funds or certificates of deposit with online banks such as Capital One, Synchrony, or Discover Bank. you
• Peer-to-Peer (P2) Lending. These are online lending platforms where you act as a direct lender to individual borrowers. As a direct lender, you earn interest rates on your money that far exceed anything you can get with a bank investment. This is an investment activity that I myself have been involved in since 2008. I’ve been averaging something on the order of 9% per year. Not only is that much better than what you can get at a bank, but it competes with long-term rates of return on stocks. Only P2P investments are a lot less volatile than stocks.

Two of the best P2P lenders are Lending Club and Prosper, and you should consider splitting your P2P allocation about equally between the two.

You certainly don’t want to put your entire fixed income allocation into P2P lending, but having a large share of in these alternative investments can really improve your overall rate of return.

• Bonds. With interest rates being as low as they are, you have to get a bit creative here. I would favor tax-free municipal bonds, since the tax savings provides a higher net yield. I would also hold short- to intermediate-corporate bonds, and maybe even some mortgage-backed securities and convertible bonds. Bonds should make up at least half of your fixed income portfolio allocation. Yes, they’re incredibly boring, but are also fairly safe, and safety of principal has to become one of your new investment guidelines.

Buying individual bonds is not only time-consuming, but can also be expensive. For that reason, your bond holdings should be held through either mutual funds or exchange traded funds that specialize in each bond category.

What percentage of your portfolio should be invested in fixed income type assets? To my thinking, as much as possible!

But even if you think of yourself as an aggressive investor, you should still have at least 50% invested in fixed income assets. People invest aggressively to get $500,000; now that you have it, your strategy needs to change completely.

7. Invest in Yourself

Somewhere in the middle of all that investment allocating, you should be prepared to invest some money in yourself. That should happen sometime after you set up your fixed income allocation, but definitely before you start investing in risk assets, like stocks.

Investing in yourself is an opportunity to both improve the quality of your life and to increase your income and net worth in very tangible ways. You need to take this step very seriously.

What exactly do I mean by “invest in yourself”? On the financial/career side, it could mean any of the following:

• Investing in a new business venture
• Investing in your current business (new equipment, marketing campaigns, product lines, etc.)
• Creating passive income streams, like rental real estate or silent partner business arrangements
• Acquiring or improving critical business or job skills
• Improving/increasing your education
• Taking investment courses, or attending investment seminars

Any of these can improve your income in the future, which is exactly what a good investment is supposed to do.

On the personal side, you may want to invest in opportunities for better health, such as exercise or weight loss programs. You may also want to spend some in areas that will help to improve the quality of your life.

For example, maybe you have always wanted to learn how to play a musical instrument or master a foreign language, but because you were so busy earning a living, you just didn’t have the time or the money. Now you do, so have at it.

8. Add Risk Investments in Measured Steps

I just want to re-emphasize that this is an investment area where you don’t need to get crazy. If you already have at least $500,000, you’re no longer a small investor, and you shouldn’t be thinking like one.

Still, you will have to build growth into your portfolio, if only to make sure that it keeps pace with inflation. That’s what stocks can do, at least in the long run. But don’t overdo it! Keep your stock allocation to something well below 50% of your total portfolio. That will provide you with the growth that you need, but without exposing you to a ridiculous level of risk.

That said, here are some of the possibilities:

• Mutual Funds and Exchange Traded Funds (ETFs). Unless you’re a successful and seasoned investor, you’ll probably prefer funds over individual stocks. That will eliminate the need to worry about security analysis, buying and selling, and re-balancing. I like actively traded mutual funds, because they offer an opportunity to beat the market rather than just keeping up with it.

But if you are content just to keep up, then you might want to favor index based ETFs. You’ll probably want to spread your mutual fund allocations across at least 10 different funds, particularly the ones that are actively managed. That will keep you moving forward in case one or two of the fund managers starts to lose their investment touch.

• Robo Advisors. If you prefer a totally hands-off approach to investing in stocks (or even bonds) you can always punt and go with a robo advisor. These are online investment platforms that provide professional investment management at extremely low fees.

For example, Betterment charges only 0.15% of your portfolio to manage an account of at least $100,000. They determine your risk tolerance, allocate your money between about a dozen stock and bond ETFs, rebalance your account regularly, and even perform tax loss harvesting to minimize your capital gains tax liability. That’s a whole lot of value at very low cost.

• Individual Stocks. Even if you know little about investing in stocks, you may want to try your hand at it anyway. After all, you may find that you have a hidden investment talent. Just understand that investing in individual stocks is much more risky than the alternatives. For that reason, you should keep only a very small percentage of your portfolio in individual stocks, thoroughly research any stocks you buy, and maintain a trading account with a low-cost brokerage firm.

Take a close look at firms such as E*Trade and Scottrade. Not only do they have low fees, but they also have the widest investment selection available.

AssetLock. This isn’t a stock investment, but rather an asset protection software package. AssetLock lowers your investment risk by creating what they call the AssetLock Value. They use proprietary software to alert your financial advisor to contact you in the event of adverse market conditions. This will enable you to get out of certain investments before losses reached the point of no return.

I’m actually an AssetLock approved advisor, not so much because I make money on the program, but because I love the product. People are usually much better at buying into investment positions than they are at selling them. AssetLock helps with this surprisingly difficult process, and keeps you from losing money at the worst possible times.

The Financial Success Blueprint. This is my own comprehensive retirement plan review, that will help you stay on top of your retirement investing. With this program, I can offer you the following:

• A specific strategy for retiring when you want and how you want – even if you don’t think it’s possible.
• The special technique I use to help clients visualize what their ideal retirement actually looks like.
• An easy way to organize all of your investments into a logical framework so you can really see what’s going on.

There’s a lot more that we can do with the Blueprint. If you like what you’re reading in this article, check out The Financial Success Blueprint and see all that it has to offer you.

9. Spend a Little on a Few Things that You REALLY Want

This is where we come to the fun part of getting a windfall. But take this step seriously – coming into a windfall should be fun!

If you have been driving an old clunker for the past couple of years, now would be a good time to break the bank and upgrade your ride. If there is a dream vacation that you have been wanting to take, you have the money so make it happen. Spending a small amount of money on a few luxuries can help you to avoid going into a full-blown consumption frenzy later on.

Naturally, you don’t want to get carried away with this step. I’ve had clients who come into very large inheritances, only to blow most of the money on new houses, new cars, boats, and high living. That’s not a mistake that you want to make! It could very well set you up for a lifestyle that you will not be able to afford in just a few years.

So there you have it – a nine step strategy to preserve and grow your capital, improve your life, and even have a little bit of fun!

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Aussies set to reinvent the wheel

A LITTLE known Australian company has taken on the global car industry with the most advanced wheels for some of the fastest cars on the planet.

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Shonky tricks big companies pull on you

ARNOTT’S, Kleenex, Ikea, Samsung and the NAB are among the big companies exposed in the 2015 Choice Shonky Awards.

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Big businesses named and shamed

ARNOTT’S, Kleenex, Ikea, Samsung and the National Australia Bank are among the big companies exposed for poor business practices in the 2015 Choice Shonky Awards.

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MCTI considers smaller living options for student house project

Talks of a full size student house project at the Monroe Career and Technical Institute has switched gears to focus on smaller living options.During a recent joint operating committee meeting, discussion on the project turned to building a modular house or small living house on the site of the school. The suggestion was made by board member Rusty Johnson after a recent trip to the Carbon Career and Technical Institute with director Adam Lazarchak. Johnson said the Carbon [...]

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Light rail fail: Will trams really stop jams?

TRAMS are popping up all over Australia, and they’re prompting an awkward question. Will light rail actually help with congestion, or just add to the rush hour crush?

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9 Creative, Inexpensive Wedding Venues: Save Up to $16,000 on Your Wedding

Planning to tie the knot? As a former wedding florist, I know how stressful wedding planning can be. Add in budget woes, and stress levels start to skyrocket.

For example, couples spend an average of $14,000 on their reception venues, and another $1,900 on a ceremony site, according to a survey by The Knot. That’s nearly half of the average wedding budget!

Ouch. A little resourcefulness can drastically reduce your wedding expenses, and the cost of the venue is no exception.

Don’t be shy: If you’re serious about cost reduction, you need to be inquisitive. Ask about all the options you can think of, then bring your plan to life.

Check out these awesome free or low-cost wedding venues.

1. Friends With Ponds

Image courtesy of Broad River Photography

If you know someone who owns a pond, ask to host the wedding there.

You can ask friends to help prepare the grounds and, with permission, provide small fishing rods to keep children busy. For safety reasons, consider posting a “No Swimming” sign.

One clever bride rode to the pond on a horse, and then kept the horse for the reception so children could take rides. It’s great when one idea can pull double-duty!

Another couple married on a pond with a small dock. As the wedding party entered, a family band played for guests. With simple decorations and flowers, they cut their costs significantly.

2. A Big Barn

Image courtesy of Broad River Photography

Does your neighbor have a barn? Ask if you can use it.

A barn might require deep cleaning and possibly a coat of paint. The aisle could double as a ceremony location — and then a buffet area — and decorated stalls can hold guest tables. Don’t worry; horses will only add to the scenery.

If you don’t want the ceremony in the barn, you can marry in a nearby pasture and save the barn for the reception. A friend married in her pasture, with a backdrop of her barn. With a rented arch and aisle formed from close-cut grass, a simple, quick ceremony was frugal and fun. Lights and candles enhanced the reception mood, and the barn was only a few steps away.

3. A Family Member’s Field

Image courtesy of Kelli H. Clevenger

Think wildflowers and gorgeous views; it’s spacious with lovely pictures to boot. All you need to do is mow the lawn and do some light decorating for a beautiful event.

One bride chose her parents’ field. With a gorgeous view and a lake in the distance, it was beautiful. Guests could walk to the ceremony site or hitch a ride on decorated farm equipment. Buffet tables and champagne were just feet away.

Tip: If you go this route, have a quick ceremony and skip chairs; chair rental is pricy and labor-intensive.

4. A Backyard Pool

Stròlic Furlàn – Davide Gabino under Creative Commons

Have a friend with a nice pool? This can be your ticket to a low-key, low-cost event. Rent an affordable arch and have a simple ceremony. Then, walk to your reception by the water.

One couple used their friend’s lavish pool with multiple waterfalls. A rented arch, Christmas lights, flower-filled Mason jars and a few tables and chairs rounded out the location. Throw in some floating candles, and you’re set.

5. A State Park or Landmark

Robert Jinks under Creative Commons

Want a huge waterfall for a backdrop? A state park might be your answer.

Some parks require reservations and special permits. Entry fees are free, or as low as $5. Pick a park and contact them to learn more.

Most parks are open throughout the year, even on holidays and weekends (though you might want to choose a weeknight so the park’s not packed with strangers during your ceremony).

The downside to hosting your wedding in a park? Many might not allow decorations to be attached to their property (such as rocks and trees). The plus side? You’ll save on decorations!

One thrifty couple married at their local South Mountain State Park. They held their ceremony in a spot flanked by towering trees, friends and family. Afterward, they enjoyed a family-donated Southern feast in the picnic area. With no additional charges, free admittance and minimal decorations, they saved a ton of money.

Note: There was no fee to use the park’s amphitheater; however, they did need to get a special activities permit. Each park will vary.

6. A Favorite Street

Volodymyr Ivash under Creative Commons

If you book a restaurant for your reception, your city may allow you to block off a street for your ceremony. As a special option, it may require a fee and permit.

Plus, if you notify them ahead of time, the local newspaper may even cover your celebration. What a cool memento to show your grandchildren one day!

My mom’s friend got married in front of a Florida courthouse surrounded by restaurants and nightlife. After a simple ceremony, they walked across the street for dinner, then enjoyed the nightlife at a nearby brewery.

It’s cheap for you, and the city benefits from the exposure. Many cities charge by the hour, and rates will vary.

7. A Sports Field

Galina Tcivina under Creative Commons

If you met in college, why not take advantage of the school’s stadium? It may require a board meeting, but don’t let that stop you. Schools love supporting their alumni, not to mention free publicity. Policies vary, and some may not allow festivities on expensive turf. Inquire at your school to see about the rules.

You have other options at your alma mater, as well. At Gardner Webb University in Boiling Springs, North Carolina, couples can marry in the chapel, in the rose garden or by the pond. They just need to pay a small housekeeping fee ($40 to $200, depending on venue), according to a spokesperson.

8. A Foyer

Volodymyr Ivash under Creative Commons

Do you know someone with a large foyer and gorgeous staircase? It may require an intimate ceremony, but if that’s what you’re planning, then ask away.

Picture yourself descending the stairs, then heading to your favorite restaurant for the reception. Better yet, head to the airport for a tropical honeymoon — you just saved big bucks, after all!

My grandparents had a beautiful foyer, which is where my sister married. She dressed at a neighbor’s house across the street, and, flanked by two bridesmaids, used the front walkway to enter the foyer.

Simple decorations included two large arrangements on the front porch, a bouquet for her and boutonniere for the groom. My parents saved a ton of money with this option.

9. Churches

Rebecca Photography under Creative Commons

If you’re dead-set on marrying in a church, many will let you use their sanctuaries and fellowship halls.

Some churches charge fees for use or cleaning. If the latter is the case, ask a family member to become a janitor for a day, and the church might waive the fee.

Be willing to negotiate. And if your favorite church is too expensive and won’t budge on price, move to your next choice.

Some churches require you use their in-house director for an additional fee. Be wary. Before you sign the contract, let them know you have your own director. Then, enlist a family member or friend to help you manage the ceremony.

A friend’s daughter married in her church, with the reception in the fellowship hall. Not only was it free, church members helped with decorations and food. She saved money, it was beautiful and the homemade food was delicious.

With creativity and an open mind, it’s easy to save on your wedding venue. Be willing. Be creative. And have less wedding debt afterward!

Your Turn: Would you get married at one of these venues to save money?

Kelli H. Clevenger is a freelance writer from North Carolina. She is the former owner of a wedding floral business, pet-grooming business and weight-loss consulting service. She has a long bucket list and plans to write about it all.

The post 9 Creative, Inexpensive Wedding Venues: Save Up to $16,000 on Your Wedding appeared first on The Penny Hoarder.

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10 Underrated Perks of Working for Someone Else

The appeal of entrepreneurship is undeniable, but you give up a lot of perks when you leave the corporate nest – including office holiday parties. Photo: The Office NBC via Facebook

In the personal finance world, finding a way to be your own boss is a common aspiration. The many benefits of entrepreneurship  — such as flexible hours, unlimited income potential, and autonomy — are alluring and constantly espoused by those who embrace “the hustle.”

But what about everyone else?

While self-employment can be rewarding, a large swath of the population has no desire to break off on their own – and for good reason. The fact is, the perks that come with working for someone else can make being an employee more than worth it.

Here are some of the biggest advantages:

Benefit #1: Retirement Money

While it’s always possible to save for your own retirement, working for someone else can certainly give you an edge. From company 401(k) plans to stock options and other benefits, the retirement money that comes from employers can add up in a huge way.

• Related: Not Investing Yet? Here’s How to Get Started

Some employers even offer a 401(k) match as an incentive for you to contribute to your own account as well. This “free money” is generally offered up to a certain percentage of your pay, although each employer does it their own way. To get the full match, you generally have to contribute an equal or larger amount to your account as well.

According to research conducted by the 401(k) Help Center, the average 401(k) match offered by employers is 2.7%.  So, an employee that ponies up 2.7% of their pay for retirement might actually end up saving 5.4%.

Some employers also match a considerably higher percentage of pay for their employees, which can obviously help them save a lot more over time. For example, an employee that saves 10% of their pretax pay in a retirement account and receives a company match on the first 6% would wind up socking away 16% of their gross annual income each year.

Benefit #2: Paid Time Off

When you work for yourself, you can theoretically take an unlimited number of vacation and sick days. But since you don’t get paid for them, taking these days can present a huge problem.

That’s especially true when you run your own business or are self-employed; when you are a one-man show, it’s often impossible to take even a few days off. While you can technically turn off the email and disappear if you want, you run the risk of losing business if you fall too far off the radar. Further, taking too many days off means taking a huge pay cut, which is simply not possible for many who are trying to get a small business off the ground.

Meanwhile, hired workers took an average of 16 days of paid leave in the United States during 2013. While this figure is down from the year 2000 when employees took a total of 20.3 days off, it still represents a healthy amount of vacation and sick time that employees can benefit from.

Benefit #3: A Reliable Paycheck

It’s true that self-employment can mean unlimited income potential, but it’s also true that you could go broke. Only about half of new businesses survive the first five years, according to the Small Business Administration, and some estimates put the figure much lower. That’s right: The dream of entrepreneurship continually lures people in, but for many, it’s over just as quickly as it started.

While you may not earn as much as you want or deserve at a 9-to-5 job, you can at least count on a steady paycheck. And when you earn a steady paycheck, it’s a lot easier to stay on top of your monthly bills while also saving for the future.

Everyone wants to earn a lot of money, but for many people, earning consistently is even better. And when you have a steady paycheck to count on, you don’t have to spend your entire life worrying or wondering if you’ll still make the mortgage next month.

Benefit #4: Regular Work Hours

Ask any entrepreneur or small business owner about the downside of their situation, and most will tell you the long work hours take their toll. When you’re a one-person show, you have to do all of the work required to keep your business afloat, plus take care of all of the administrative tasks and grunt work. And even if you’re able to hire employees at a certain point, you still have to manage them!

When you’re employed by someone else, on the other hand, you usually have a predefined set of work responsibilities and pre-set hours. And when you’re done at the end of the day, you can go home and let someone else worry about it.

Benefit #5: Taxes Are Taken Out On Your Behalf

While working for yourself can help you enjoy some tax breaks that aren’t available to the 9-to-5 crowd, it generally means paying more in taxes as well. Without an employer to chip in for half of your Social Security taxes, the self-employed are left paying both halves on their own. Because of this, self-employed small business owners effectively pay one of the highest tax rates in the country.

When you’re an employee, your employer shoulders the burden of part of your tax liability. Further, they make paying taxes easier by taking your tax dollars directly from your paycheck dependent on your desired level of withholding.

People who work for themselves are forced to jump through dozens of complicated hoops in order to pay quarterly estimated taxes to their state and the federal government. And even then it’s not over; once they figure out what they owe, they have to write a huge check and fork that money over. (Trust me. That part hurts.)

Benefit: #6: Health Insurance and Other Benefits

While the Patient Protection and Affordable Care Act (PPACA), commonly known as Obamacare, intended to increase health care options for everyone, including small business owners and the self-employed, it isn’t necessarily affordable for everyone. And that is part of the reason some self-employed workers are avoiding the health insurance marketplaces and opting to pay the penalty or even join health care sharing ministries instead.

Meanwhile, those with employer-sponsored health care are almost always better off. While not all employees are happy with the health insurance their companies offer, many people point to their health care as the main reason they stay put in their careers.

Further, health insurance benefits can be worth huge sums of money. According to the Henry J. Kaiser Family Foundation, the average employer contribution for a family HMO plan for their workers was $12,129 in 2014, and the average contribution to a family PPO plan was $12,456. While employees are asked to pay varying amounts of money to cover their share of health insurance premiums, it’s hard to deny that the employer contribution can represent a huge chunk of change.

Benefit #7: Free Training and Opportunities for Self-Improvement

If you’ve been in your career for a while, you have probably participated in some type of training or continued education program- all paid for by your employer. While this type of training is often necessary, is can also be a huge benefit to you even after you move on to bigger and better things.

Workshops, employed-paid trips to conventions, and in-house training are benefits that can help you learn new skills, stay up-to-date on new technologies and methods, and network with other professionals in your field. And if you ever leave your company, you can take the knowledge you learn – and the contacts you make in the process – with you.

Benefit #8: You Don’t Have to Put it All On the Line

Remember how half of entrepreneurs fail in the first five years? That statistic proves just how risky starting your own business can be, and just how many people fail to launch their dreams into something tangible.

If you have people depending on you, the risk you’ll take to strike out on your own can be too much to bear. After all, risking it all to maybe make it big isn’t always an attractive proposition.

Working for someone else, on the other hand, isn’t quite as risky. While you may not be your own boss, you can often secure your place at the company and earn more each year just by working hard and adding value to the company. And if you have kids, a mortgage, and a slew of other financial responsibilities, a steady paycheck and a job you can count on can be a dream scenario on its own.

Benefit #9: Generous Perks

Employer-paid cell phones. Catered lunches. Company Christmas parties. Technology and tuition reimbursements. What do all of these things have in common? They’re perks you might receive as an employee, and things you’ll give up if you strike out on your own. With the average cell phone customer at the big-name carriers paying $90 a month for an individual plan, giving up that perk alone could mean losing out on more than a thousand dollars a year!

• Related: 11 Benefits You Should Be Taking Advantage of at Work

While benefits like these may not mean much on their own, they can add up in a huge way when lumped together and offered on a consistent basis. And that’s part of the reason smart employers offer extra perks to begin with; by being generous to their most valuable employees, they can keep them happier and extend the length of their employment as a result.

Benefit #10: A Sense of Belonging

While self-employment can be extremely fulfilling, it can be very lonely as well. When you’re on your own, you don’t normally have co-workers or team members to bounce ideas off of, vent to, or celebrate your successes with. And without those people, you can wind up feeling very isolated and uninspired.

On the other hand, working and collaborating with others allows you to be part of something bigger than yourself. It allows you to play off the strengths of others and use their insights and talents to improve your own work performance.

Further, co-workers can offer the kind of friendship that is hard to find elsewhere. When you work with others, your peers understand your struggles and aspirations like no one else can.

Maximizing the Benefits of Working for Someone Else

While you may dream of striking out on your own, working as an employee in a job you love may be good enough, too. In fact, working for someone else and becoming a valuable part of their team could actually make you wealthier over time – and without all the stress that comes with running your own business.

As always, the key is finding an employer that truly values the work you do. Furthermore, negotiating your pay and benefits from the beginning can help you maximize your earning potential from the get-go.

• Related: How to Negotiate Salary and Juggle Job Offers

In the end, it’s all about finding the best deal for you – the deal that makes the most out of your talents and personal abilities while also leaving you fulfilled and lining your wallet.

Whether you get there through self-employment or working for someone else is totally up to you. Just remember, both options come with a slew of benefits and perks – and plenty of drawbacks.

What is your favorite benefit of working for someone else? Do you prefer being an employee?

The post 10 Underrated Perks of Working for Someone Else appeared first on The Simple Dollar.

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No Kids? You’re Not Off the Hook for Financial Planning

Without children in the picture, make sure to align your money priorities in your 30s and 40s.

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Savvy Parents: 10 Ways to Get Free or Nearly Free Clothing for Your Kids

As the mom of two young daughters — Penny, 3, and Georgia, 1 — I understand why the average American family spends roughly 3.8% of their annual household income on clothes. Children are constantly growing, and their clothing needs change nearly every season.

Since we’re a lower income family, my husband and I decided early in our parenting journey to spend as little as possible on our kids’ clothes. My children are both well-dressed, typically wearing the latest fashions and the best designer brands.

Yet I spend virtually nothing.

How do I do it? Let me share my secrets. Here are 10 ways to get children’s clothes for free or next to nothing.

1. Host a Community Clothing Swap

This is a fun way to exchange clothes! Gather together for a few hours of light refreshments and swapping.

Invite friends, neighbors and community members who have children within a certain age category. Considering the ages of my kids, I would invite families with newborns to children about 6 years old.

Time your clothing exchanges about two to four weeks before the start of a new season. This way, your children will have some new items at crucial times, such as back-to-school season and summer break.

2. Sell Used Clothes at a Consignment Shop

Trade in your pre-worn clothes at consignment shops in person or online. Depending on the clothing’s quality, staff will usually offer you a store credit of 40%-50% of the selling price, which you can then use toward new clothes.

One store my family frequents is Once Upon a Child. This buy-and-sell children’s shop offers 30% of their selling price in cash. I take the money they offer me for my used children’s clothes and head to their 70% off rack, where I have found entire outfits for $1 and T-shirts for 40 cents, often brand-new with tags still on them.

3. Trade Your Services for Outgrown Clothes

Find a friend who has children one or two sizes up from yours, and offer to trade your time and effort for their kids’ outgrown clothes. For example, two nights of free babysitting for a garbage bag full of used clothes.

If babysitting isn’t your thing, consider what you bring to the table, whether it’s making them frozen meals for a week, cutting hair or changing the oil in their cars.

4. Create a Facebook Clothing Trade Group

Many local Facebook groups cater specifically to moms and parents.

Consider creating your own group focused on trading children’s clothes, with an emphasis on free clothing. People can post a photograph of an outfit and what they’re seeking in return.

This has the same feel of a community clothing swap, except it’s ongoing and you can request specific items, like rain boots, from a much larger group of people.

5. Repurpose Old Clothes

My children are always in need of pajamas. The problem: They rarely go on sale, and it’s hard to find used ones in good condition.

The good news is pajamas are for sleeping — not wearing outside — so who cares what they look like?

Consider putting your kids to sleep in T-shirts and track pants that are stained or worn out. Or, search through your own drawers and find some old shirts you don’t wear. Use them as nightgowns or cut them in half. If you have any sewing abilities, you can even create a shorts and T-shirt set.

6. Create a List and Sort Through What You Have

Sit down for a moment and write out a list of clothes you think your children need. Perhaps you think they don’t have enough shorts, so you write down, “needs two extra pairs of shorts.”

Set aside an hour and go through all your children’s clothes. Make sure to check their dresser, under the couch, in overnight bags and in the dirty laundry. Sort and count all their clothing and write down each item in columns.

For example: 12 T-shirts, 10 pajamas, 15 shorts

Look at your original list. You wrote they needed extra shorts, yet you found a bunch you forgot about, and they actually have more than necessary!

Keep that list in your wallet, and when you feel tempted to buy them another pair of shorts, remind yourself: They already have 15 pairs!

7.  Borrow One-Time-Use Items

We all have those annoying events where our children need a pair of white shoes or a black dress, and you know they will never have to wear that item again.

Instead of blowing money for a single-use item, ask friends on social media or in-person if they happen to have that item in the correct size. Borrow it for the event, write a nice thank you card and offer to do the same for them next time.

My daughter has worn dresses slightly too big to events; nobody noticed, and my daughter loved knowing she was borrowing her older friend’s dress for the day.

8. Request Items for Birthdays and Christmas

Some might call this tacky, but I call it smart: If you have family and friends who typically buy your child a gift, make sure it’s something he or she needs.

Before a holiday, consider sending a quick email to your closest family members to let them know some of the items your child is running low on. Perhaps Grandma’s birthday present can be a new winter coat or a pair of rubber boots.

9. Check Craigslist for Free Items

Sometimes people post free clothing out of the goodness of their heart. Check out Craigslist every so often to see if someone giving away clothes for free.

10. Use Referral Programs

Look for online clothing retailers that provide referral credits, which can lead to free clothes for your family. Thred-up is one example of an online retailer that sells used clothing and offers a great referral program.

Your Turn: What are some ways you get free (or nearly free) clothes for your children?

Brianna Bell is a wife, mother and freelance writer specializing in articles on personal finance and family. She has been featured in the Globe & Mail, and has been referred to as a “tiger mom of personal finance.” You can find her blog at mrsbriannarose.blogspot.com and on Twitter @briannarbell.

The post Savvy Parents: 10 Ways to Get Free or Nearly Free Clothing for Your Kids appeared first on The Penny Hoarder.

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13 Hacks to Winterize Your Home – and Trim Your Heating Bill

Fall is an excellent time to make repairs that will make your home more energy efficient.

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Cool Job Alert: Want to Get Paid to Give Away Target’s Money?

Do you consider yourself a philanthropist? Want a job with “increase guest love” in the description?

If you have a bachelor’s degree and experience in business, Target’s Corporate Social Responsibility Manager role might just be for you.

What Does a Corporate Social Responsibility Manager Do?

You’ll spend your workdays performing market research to discover which social issues are most pressing in your area — and then working to address them.

You’ll be a leader and strategizer for Target’s Local Needs team, managing a $10 million to $100 million philanthropic budget.

That’s right: You’ll get paid to give away Target’s money.

How About the Job Perks?

For starters, Target promises “one of the best earning packages anywhere,” including flexible scheduling, great insurance coverage and a 401(k).

Plus, you’ll get to travel for work — and feel great about being a professional philanthropist.

What You Need to Get the Job

So what qualifies you to apply?

You need to have a bachelor’s degree and eight to 10 years of experience in business, strategy or public policy, including experience managing and leading teams. If you have an MBA, previous corporate social responsibility experience or a track record of leadership in your community, you’ll stand out.

Target wants someone with a passion for doing good and building community, as well as strong interpersonal communication and strategic thinking skills.

Sound like a fit? Head on over to Target’s career page and submit your application.

Your Turn: Would you like to get paid to give away Target’s money?

Jamie Cattanach is junior writer at The Penny Hoarder and a native Floridian. She’s passionate about learning, literature, chocolate and finding ways to live the good life as cost-effectively as possible.

The post Cool Job Alert: Want to Get Paid to Give Away Target’s Money? appeared first on The Penny Hoarder.

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How Global Conflict Can Boost Your Portfolio

Defense stocks have done well despite sequestration, and there's reason to believe that will continue.

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4 Communications Skills to Highlight on Your Résumé

How to demonstrate these skills rather than just claim to have them. 

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The Ten Bulls Revisited

Over the course of the last decade, I’ve seen my perspective on financial issues change radically many times. I started off as a person who spent money freely without any consideration for the future. That gave way to a person who was very careful with money and about his own future.

From there, things grew through several stages. I became quite proud of the choices I had made. I adopted a bit of pride and smugness in comparing my own financial choices to others. I began to be obsessed with moving faster and faster toward financial independence. Then, at some point, I began to step back from all of that and see things in a completely new way once again.

One of the first posts I wrote for The Simple Dollar was Ten Financial Bulls: Moving From Desperation To Financial Enlightenment Using A Zen Parable. In it, I took a classing Zen Buddhist parable that had brought me a great deal of peace at various points in my life and compared it to what I saw as a path to financial success.

Looking back on it now, I can see that I made those comparisons from a very different position from where I am at now. I believed I had achieved most of – if not all of – the steps in that journey at the time. Today, I see that I have actually achieved very little.

The lessons I take from Ten Bulls today are much different than what I took from them years ago, and so I think it’s time to look back on that parable that has served me so well over the years with a set of fresh eyes.

1. The Search for the Bull

In the pasture of this world, I endlessly push aside the tall grasses in search of the bull.
Following unnamed rivers, lost upon the interpenetrating paths of distant mountains,
My strength failing and my vitality exhausted, I cannot find the bull.
I only hear the locusts chirring through the forest at night.

Most of my life up until the last several years involved an endless struggle for meaning and for understanding my place in the world. Why am I here? What should I be doing with my life?

Although I had those questions in my heart – like many people do, I’ve found – I didn’t have the first clue as to how to answer them. When I did try to address it, through things like religious experience or studying philosophy, I would find myself tired and unfocused and without any answers that I didn’t already have.

My life’s journey felt largely empty. I wanted there to be a grand meaning, but I had no idea where it was.

At the same time, modern society is built to make it easy to drown those feelings in immediate pleasures. It is so incredibly easy to spend your money and your time chasing quick, fleeting pleasures – a rich dinner at a restaurant, a latte at the local coffee shop, yet another superhero movie with a plot you’ll forget in three days, countless hobbies and diversions that require an endless supply of stuff. All of those things provide a big surge of pleasure when you lay your money down, allowing you to forget your cares and worries for a little while.

But those cares and worries return. Spending money on simple pleasures is a powerful temporary fix, but unless you have infinite resources, it does not provide an eternal answer. Eventually, you find yourself right back where you started, seeking deeper meaning but never quite finding it.

2. Discovering the Footprints

Along the riverbank under the trees, I discover footprints!
Even under the fragrant grass I see his prints.
Deep in remote mountains they are found.
These traces no more can be hidden than one’s nose, looking heavenward.

I think my first steps beyond bouncing back and forth between empty searches for meaning and spending money on short term pleasures came from the birth of my son, both during the months of my wife’s pregnancy as well as in the months afterward as I experienced being a father. For the first time, I was forced to start addressing some difficult truths in my life.

Then, suddenly, in my first real burst of insight about my future, I discovered what you might call my first set of footprints, and once I saw those, I began to see them all over the place.

The truth that I was beginning to see was that the choices I made today, the choices I make in this very moment, have real consequences regarding the choices I’m going to be able to make tomorrow and next year and when I’m old. Those choices and their consequences also ripple out into the lives of the people I care most about. At the time, I began to see the ripples as they would spread across the innocent face of my infant son.

3. Perceiving the Bull

I hear the song of the nightingale.
The sun is warm, the wind is mild, willows are green along the shore,
Here no bull can hide!
What artist can draw that massive head, those majestic horns?

Most of this parable of the Ten Bulls is about someone tracking a bull and what happens after the bull is discovered. Since it is a parable, it’s clear that the bull represents something else.

What is this bull that I am tracking, you might ask?

For me, at least, I see the bull as being the side of me that makes impulsive choices without really recognizing their consequences. It’s the side of me that yearns to run wild. It’s the side of me that can take me on incredible journeys if I allow it to, but it can also lead me straight into disaster.

This third step, in my eyes, is the realization that the “bull,” as I see it, is a part of me, but it is a distinct part that I can observe and control if I allow myself to do so. The “rational me” (represented by the “I” in this story) and the “impulsive me” (represented by the bull in this story) both live within my own skin. Digging into the relationship between the two and getting them to work together is what I find that much of the rest of the parable of the Ten Bulls is discussing.

In many, many ways in my life, I’m still sitting here at the third step in this parable. It is only in the most narrow of moments and specific experiences that I have seen anything beyond this. Beyond this point are mostly things that I understand to exist and that I have seen in brief, fleeting instances, but I have not yet come to truly incorporate into my life.

I often perceive the bull in many aspects of my life. I see him sitting there. I know what he is capable of. But instead of catching or taming the bull, sometimes I allow the bull to run completely free, without consequence. It is in those moments that I make mistakes.

My journey is far from over.

4. Catching the Bull

I seize him with a terrific struggle.
His great will and power are inexhaustible.
He charges to the high plateau far above the cloud-mists,
Or in an impenetrable ravine he stands

At that point in my financial journey, when I finally saw the bull, I sought to tame it through some incredibly strict self-discipline. I decided that the only way I was going to catch and control my sense of impulsive spending on short-term desires was to put some intense constraints on it.

So I locked things down. I practiced things like money free weekends. I tried every frugal strategy under the sun. I forced myself to spend money only within the strictest parameters to address life’s needs. I locked down a very tight budget and I willed myself to stick to it.

It was hard. It wasn’t fun. I felt beat up and miserable most of the time. My desire to spend without constraint was strong and getting it under control made me feel like life was full of misery and it wouldn’t get better.

I think that many people reach this point in their personal finance journey and they simply stop. For me, this stage is definitely the epitome of the hard path, the road less travelled.

5. Taming the Bull

The whip and rope are necessary,
Else he might stray off down some dusty road.
Being well trained, he becomes naturally gentle.
Then, unfettered, he obeys his master.

What I found is that, over time, several changes occurred to that strict self-discipline.

First, I discovered that some of the self-discipline elements were very self-defeating. They didn’t achieve anything truly positive in my life. I would do things that would take a great deal of time, for example, and it wouldn’t save me much money at all.

It took a while to really recognize which elements were self-defeating. I had to begin to really understand how I value certain things – free time, time with my children, my energy level, time with my spouse, time for experiences and hobbies, and so on – before I could realize how self-defeating some elements of over-the-top self-discipline can be.

For example, doing things like washing Ziploc bags was wasteful. In order to get them clean and dry, I had to spend a surprising amount of time. I came to realize that the solution wasn’t to start tossing Ziploc bags, either, but to move to resealable containers for everything.

I also began to notice that many of the truly sensible elements of that self-discipline – the stuff that really made sense and really worked in terms of spending less money without contributing an unbalanced amount of time to that effort – started to slowly become natural in my life. Buying generics became the natural way.

The bull slowly became tamed.

6. Riding the Bull Home

Mounting the bull, slowly I return homeward.
The voice of my flute intones through the evening.
Measuring with hand-beats the pulsating harmony, I direct the endless rhythm.
Whoever hears this melody will join me.

This stage spawned most of the early content on The Simple Dollar. In many ways, I started to become an evangelist for the idea of financial self-control and financial improvement. I had a strong desire to share what I learned and thus I launched The Simple Dollar to share it.

We’ve all met people who are kind of evangelists for something new they’ve discovered in their life. They’ve mastered it to some extent and they’re really feeling the benefits. They want others to know about this great thing they’ve found. Some people do this better than others, of course.

It’s worth noting that I found this level to have a bad side, in a way. I began to feel pride and confidence in this self-discipline, knowing that I have improved, but, sadly, also seeing that others had not improved in the same way. I would see myself improving in that particular attribute in life, see that others had not improved, and thus view myself as somehow better in comparison and somehow view them as worse in comparison.

That, too, will pass.

7. The Bull Transcended

Astride the bull, I reach home.
I am serene. The bull too can rest.
The dawn has come. In blissful repose,
Within my thatched dwelling I have abandoned the whip and rope.

Within the specific barriers of personal finance, I feel that this stage describes my current feeling quite well.

In most ways, I feel as though the “bull” – meaning my impulsiveness when it comes to using and spending money – is so controlled that I no longer have to actively train it. In fact, the controlled bull has wholly become a natural part of my life.

I can internally sense when something is amiss when I make a spending error. It feels wrong when I spend money in a way that I shouldn’t. As with normal life, I naturally try to avoid actions that feel internally wrong, and taming the bull and transcending it managed to build up that internal sense of wrongness when it comes to money use.

I don’t need hard structures any more. I still budget and track my expenses, but that’s because I enjoy looking at the patterns that I can see in that data, not because I need the structure to keep me on the straight and narrow.

What’s often seen as “good” personal finance practice just seems completely normal to me these days.

8. Both Bull and Self Transcended

Whip, rope, person, and bull — all merge in No-Thing.
This heaven is so vast no message can stain it.
How may a snowflake exist in a raging fire?
Here are the footprints of the patriarchs.

This is the point where I really begin to struggle with things.

I’ve come to realize that my inner self is full of bulls to be tamed. I constantly make poor choices when it comes to using time, using my words, using my energy, handling my emotions, being honest, and so on.

I am a gigantic collection of flaws and imperfections and, in many cases, awfulness. I am nowhere near the person I want to be.

And that realization takes me right back to the third stage in almost every aspect of my life. I mentioned above that I perceive myself to mostly be at the third stage in most aspects of my life because I see the flaws.

The possibility of what I could be – and how far I am from that – feels almost incomprehensibly vast. I feel as though I have failed in large aspects of my life since the beginning.

9. Reaching the Source

Too many steps have been taken returning to the root and the source.
Better to have been blind and deaf from the beginning!
Dwelling in one’s true abode, unconcerned with that without —
The river flows tranquilly on and the flowers are red.

If there are infinite bulls out there, if there is such a great distance between myself and who I could be, and that ocean is so vast that I can never really cross it, is there any purpose in self improvement?

If being the best possible person is just simply unattainable, what’s the point of all of this? Why bother to improve? It is often tempting to just shut down and give up, to return back to the first bull where I am completely oblivious to the bull and just acted on impulse in every regard.

The thing that keeps me from running back to that impulsive state is one simple realization. Life goes on. The past flows into the present, and the present flows into the future.

I have seen, over and over again, that the things I have done in the past shape what my life is like now, and thus the things I do now shape what my life is like in the future.

Making myself a more virtuous person – regardless of the virtues I choose – is hard. It is very hard. However, I’ve learned that in the moment, working hard on improving one of my virtues – whether it’s my financial responsibility, my spending habits, my honesty, my communication with others, my physical health, and on and on and on – turns out to be a great moment. I feel great when I push myself and I constrain myself and then I step back and think about and feel how I handle all of that.

I think about when I’m out of breath after exercise, or when I speak honestly and thoughtfully with someone else, or when I try out a better way of organizing my time. It can seem like a burden, like it’s the hard path, but when I let go and just step back and observe that moment, it feels great, almost as if I’m itching at a spot on my back that I can’t quite reach.

In other words, it becomes an appreciation of simply trying to catch the figurative bull. The process of trying to make yourself something better is worth appreciating all on its own, and it turns out that it’s a great moment. It is beautiful to see yourself stretch in a new direction and become something new, something that’s ideally more virtuous than what came before. The butterfly is beautiful, but so is the caterpillar and the cocoon.

10. In the World

Barefooted and naked of breast, I mingle with the people of the world.
My clothes are ragged and dust-laden, and I am ever blissful.
I use no magic to extend my life;
Now, before me, the dead trees become alive.

This final stage is something that I have the vaguest sense of, but it’s something that I am far from ever attaining.

The truth is that success and failure are part of who we are as people and they are just different responses to our experiences. Different people live differently, and it’s okay. They’re responding to the situations in their own life in their own way and, sure, it might be different than my own. That doesn’t mean that it’s wrong. It’s just different, and that’s fine.

When I write now on The Simple Dollar, I try mostly to focus on what has worked for me and what I have learned from that experience that improves my understanding of the world. I hope that it is just a buffet of ideas and options for you from which you can take what will help you with your own journey. I am not a role model, I am far from it. I am a person, however, and every person has something of value worth sharing. I hope that you can find it in my writings.

The moment is what matters most, and the future is just an infinite string of those moments. I like to think of it in terms of a necklace: a moment can be a pearl, incredibly beautiful on its own, and yet a string of them is a beautiful pearl necklace and a beautiful life.

A great day is one that’s full of those pearls, those moments. As always, beauty is in the eye of the beholder. The beauty I see in a moment might be much different than what you see. I have come to believe that there is something great in every moment and my heart and mind hope to find it. I often fail at it, but sometimes I succeed.

Some days, the great days, I succeed a lot. I see a lot of beauty in the most ordinary moments. I find it when I push myself to be a better person in almost any aspect, among the thousands and thousands of bulls, or even when I step back and just observe the things going on around me.

And, yes, money does remain a part of that, perhaps even a big part. It’s an element of what makes it possible to see more beautiful moments, and to string together a lot of great moments. I don’t need money to experience the moment, but having enough money makes it easier to truly experience great moments through lower stress and a greater freedom to just lose myself in the now.

Final Thoughts

As I read through this article, I realize that it seems extremely philosophical at points, so I’m going to finish by breaking it down into something practical that can really help with your personal finance journey or whatever other life journey you find yourself on.

When you’re trying to change yourself, step back and focus on the moment. If you’re trying to improve your finances, ask yourself if, in that moment, you can move forward without spending. If you’re trying to improve your health, ask yourself if, in that moment, you can just take one more step or do one more rep or even just choose to get up off the couch in that moment.

That’s because, in the end, the bigger success you desire is just a string of moments where you made a small success out of that moment.

Then, appreciate those little moments. Relish the feeling of having done the right thing over and over again. Look at what that string of moments has added up to and what it means for all of the things you care about in your life – your relationships, your future, your career, and all of the multitudes of things within yourself.

It’s a journey, one that I find myself in the middle of and I suspect I will find myself in the middle of for the rest of my life. But this moment is beautiful in part because of what I have done to get here, and this beautiful moment might just play a part in making many more.

Good luck.

The post The Ten Bulls Revisited appeared first on The Simple Dollar.

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Earning Cash Under the Sea: Could You Make Money as a Mermaid?

Ever wish you could be part of Ariel’s world?

Turns out you pretty much can. (Except for the breathing underwater part.)

You might even stand — er, swim? — to make some cash while you’re at it.

A new micro-industry has cropped up around self-proclaimed “merfolk,” who perform and play underwater in life-like (and expensive!) silicone mermaid tails.

Thanks to the Internet’s magical ability to bring niche-interest communities together, merfolk across the globe have united through forums like MerNetwork. And where there’s a community, there’s a market.

So, how can you make money under the sea?

How Merfolk Make Money

You could take after Mermaid Melissa (her legal name), who makes her living as a mermaid for hire for events and shows.

Not only is this perhaps the coolest job ever, but Melissa also emphasizes ocean conservation and ecological awareness through her performance. She looks good, does good and makes good money!

How about crafting mermaid tails? Maybe you don’t have the overhead or skills to craft gorgeous tails like FinFolk Productions, which start at $2,700.

But basic options are more manageable, especially for rookie merfolk.

Fun Fin Mermaid started when Idahoan Karen Brown created a tail with her sewing machine as a gift for her granddaughter. A quick search on Etsy reveals hundreds of hand-crafted tails, with prices ranging from $35 to over $100, so it looks like your market awaits.

Once You Learn, Teach Others

Susana Seuma started a mermaid school in Spain after an injury made her previous job impossible.

Similar schools and traveling programs exist, for both adults and children, in Montreal, Los Angeles and, of course, here in Florida. The world-famous Weeki Wachee mermaids even have weekend-long mermaid camps you can participate in for $425 if you’re 30 or over.

Who knows? As the profession grows, there might just be a demand for a mermaid school in your area.

One thing’s for certain: When you follow your passion and think outside the box, you can make magic and money.

Your Turn: Would you become a mermaid as a side gig?

Jamie Cattanach, junior writer at The Penny Hoarder, is a surprisingly bad swimmer for a Florida native. You can follow her as she documents stuff she’s better at on Twitter: @jamiecattanach

The post Earning Cash Under the Sea: Could You Make Money as a Mermaid? appeared first on The Penny Hoarder.

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Millions of skilled graduates needed

AUSTRALIA will need 3.8 million new skilled graduates entering the economy over the next decade to compete in the rapidly transforming global economy.

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The Case for Retirement in Mexico

Puerto Peñasco’s sandy beaches are accessible and affordable.

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Money Steps to Take Before Your 40th Birthday

Greater financial responsibilities mean it's time to take action.

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6 Ways to Celebrate National Hispanic Heritage Month on a Budget

You can learn more about Latino culture through many fun and frugal options. 

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11 Tips for Investors in Their 30s and 40s

As earning potential grows, investors should be putting more money away for retirement.

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The Consequences of Aggressive Debt Repayment

Paying down debt sometimes comes with bad side effects. 

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5 Big Money Mistakes to Avoid in Your 20s

You don't want these consequences to last the rest of your life.

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Drones are useful tools in business, operator says

Drones, an unmanned aircraft nationwide sensation in which dozens were shown on a TV car commercial and one was cast in a "Transformer" movie, may be working their way into Monroe County.Dennis Jeter, president of the Rotary Club of the Stroudsburgs, made a presentation to club members at the weekly meeting of his newest preoccupation that can serve as a fun toy and also a valuable accessory to his business. He explained and demonstrated five different models to members ranging from [...]

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Savings update: Move quickly for best rates

Sylvia Morris

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Savers have to move quickly to grab top rates on easy-access accounts, as these do not stay around for long.

Savers have to move quickly to grab top rates on easy-access accounts, as these do not stay around for long.

Both Tesco and Kent Reliance have launched new deals at lower rates. Tesco Bank new Internet Extra pays 1.5 per cent (1.2 per cent after tax), down from its previous 1.6 per cent (1.28 per cent), which was on sale for just two weeks.

Savings update: Move quickly for best rates

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Savers have to move quickly to grab top rates on easy-access accounts, as these do not stay around for long. Both Tesco and Kent Reliance have launched new deals at lower rates. Tesco Bank new Internet Extra pays 1.5 per cent (1.2 per cent after tax), down from its previous 1.6 per cent (1.28 per cent), which was on sale for just two weeks. The new deal includes a 0.75 (0.6) percentage point bonus for the first year. Kent Reliance Easy Access account now pays 1.35 per cent (1.08 per cent) to new savers. Last month it offered 1.65 per cent (1.32 per cent). The top deal on easy-access accounts comes from French-owned RCI Bank, part of the Renault group, at 1.65 per cent before tax (1.32 per cent after tax) on its Freedom account. But here you are not covered by the UK compensation scheme. If the bank goes bust, you claim from the European scheme where the maximum amount is €100,000 (around £73,500). The latest issue of Post Office Online Saver pays 1.61 per cent (1.29 per cent), including a bonus for the first year you are in the account. After this the rate drops to 0.65 per cent (0.52 per cent). On fixed rate deals, internet bank Charter Savings pays a top 2.07 per cent (1.66 per cent) for one year. RCI Bank pays 2.06 per cent (1.65 per cent) and Shawbrook Bank 2.05 per cent (1.64 per cent). For two years you can earn 2.4 per cent (1.92 per cent) with Paragon Bank, 2.35 per cent (1.88 per cent) with RCI or 2.32 per cent (1.86 per cent) with Charter Savings Bank. On easy-access tax-free cash Isas, Virgin Money now pays 1.56 per cent on its Defined Access Isa, which limits you to three withdrawals a year. The top deal with no bonus or withdrawal restrictions is 1.4 per cent, from Nationwide. Both accept transfers from other providers. On fixed rate cash Isas, Shawbrook Bank pays a top 1.85 per cent and Virgin Money 1.81 per cent for one year. For two years Mansfield Building Society offers a top 2.1 per cent, but you can't transfer your existing cash Isas into this account. Virgin Money pays a 2.06 per cent and accepts transfers.

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Funeral expenses rise 3.9% to £3,702

Mark King

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The average cost of a funeral has now hit £3,702, an above-inflation rise of 3.9% or £140 on last year, according to a new survey. Around one in ten people now struggling with funeral expenses, says life insurance and pensions firm Royal London.

The average cost of a funeral has now hit £3,702, an above-inflation rise of 3.9% or £140 on last year, according to a new survey. Around one in ten people now struggling with funeral expenses, says life insurance and pensions firm Royal London.

 

Funeral expenses rise 3.9% to £3,702

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The average cost of a funeral has now hit £3,702, an above-inflation rise of 3.9% or £140 on last year, according to a new survey. Around one in ten people now struggling with funeral expenses, says life insurance and pensions firm Royal London. Its 2015 National Funeral Cost Index indicates that cremation costs rose by more than burials last year, up by 4.2% to £3,294 compared to 3.7% and £4,110. The price you pay to say a final goodbye to loved ones also depends on where you live, with a cremation in Greenock costing just £2,976, compared to £7,216 for a burial in Beckenham, Kent. Simon Cox, a funeral cost expert at Royal London, said: “A loved one’s funeral can be expensive. ‘[It is] a major (and sometimes unexpected) outlay, costing thousands of pounds. The rising cost of an average UK funeral is very concerning; it’s outstripped inflation considerably for many years – almost in line with house price rises, which as we know continue to rise rapidly as demand outstrips supply.” Funeral costs rose the most in Wales last year – up by 5.2% compared to a rise of just 2.4% in Scotland. On a regional basis, costs rose most in the West Midlands and Yorkshire and Humberside, by over 4% in both regions. Royal London said it is “not surprising” to see funeral debt rising in UK households, with more than one in ten people (13%) now struggling to pay for a funeral. The average debt incurred due to a funeral now stands at £1,318, which is why people are cutting-back when it comes to paying for essential items such as coffins, and optional elements such as flowers, the insurer added. “The most striking example is coffins: last year’s Index found people spent £1,108 on average, but the 2015 report shows this has dropped to £989, a decrease of 11%,” Royal London stated. “Our study shows people are striving to meet funeral price hikes, which they have little control over,” Coz said. “Given the stressful situation, shopping around for a funeral is often not an option. Instead people are coping by cutting back on non-essentials if possible, and reconsidering how loved ones are buried. “The UK funeral system still displays fundamental failings, which we reported last year. Vulnerable bereaved people are taking on increased debt; and we predict this problem will worsen if steps are not taken to tackle the many, persistent causes driving up the cost of funerals.” Royal London is now calling for the government to “find better outcomes for bereaved UK citizens” including an overhaul of the Social Fund Funeral Payment, which was designed to cover the cost of a basic funeral for people on low incomes where there was no other relative with the means to pay. The Fund now routinely covers just 35% of the cost of a basic funeral.

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House prices rise 8.6% in a year

Tom Wilson

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The average price of a home in the UK rose by 8.6% to £202,859 over the year to September, fuelled by short supply and rising mortgage approvals, according to the latest house price index from the Halifax.

However, prices actually fell by 0.9% in August and the annual rate of growth fell from 9% the previous month.

House prices rise 8.6% in a year

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However, prices actually fell by 0.9% in August and the annual rate of growth fell from 9% the previous month. Property transactions are on the rise though. HM Revenue & Customs (HMRC) says property sales rose 3% in the month to August, to the highest level since February 2014. While mortgage approvals increased for the third consecutive month, also to the highest level in over a year, according to the Bank of England. Martin Ellis, housing economist at the Halifax, said: “Housing demand has been strengthening recently, underpinned by economic growth, rising real earnings and very low mortgage rates.” Housing remains in short supply, with the National Housing Federation recently estimating about half the required number of new properties were built between 2011 and 2014. The Royal Institute of Chartered Surveyors says properties on the market reached a record low in August, as the number of people listing properties for sale fell for the seventh consecutive month. Ellis added: “Increasing demand is combining with very low supply to drive robust underlying house price growth. There is little reason to expect any fundamental shift in the key market drivers over the coming month.” The Halifax report said prices for flats are increasing much more quickly than other residential properties. The average price of a flat is 60% higher than a decade ago, while detached houses have increased by just 21%.

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