Check out these four tricks used to get you to spend more (without you knowing it).
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Here at Dave Ramsey’s place, we keep our finger on the pulse of the culture. You might even call us culture connoisseurs.
Well, not really. But here’s what we can do: We can tell you what will be in and out in 2014 when it comes to money.
For some people, these things might just be a passing fad or a temporary trend. But, if you’re like us, these things are a way of life.
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Out: 30-year mortgages
The longer you have a mortgage, the less you can put away for your golden years. Unless you plan on living with your kids when you’re 70, think seriously about cutting that mortgage down to a 15-year fixed at most. Connect with an investment professional in your area that Dave recommends.
In: Saving for Christmas
Out: Buying for Christmas at the last minute
Wait a minute. Christmas just ended, and we’re telling you to start thinking about Christmas again? Exactly! Put away a little bit of money each month (a.k.a. a sinking fund) so you’re not scrambling come December. That’s the cool thing about Christmas—it’s the same time every year! Make a plan and save for it all year long.
In: Going to college in-state
Out: Going out of state for college
Have you seen the cost of out-of-state tuition? Unless you’ve got a lot of scholarship and grant money, in-state tuition will cost you a lot less out of pocket, and it usually makes a lot more sense. Whatever route you take, The Graduate’s Survival Guide will prepare graduating high school seniors for their college experience.
In: Used cars
Out: New cars
Dave Ramsey has been saying this for years, but do you really realize how much you’ll save by buying a two-year-old car instead of a brand-new one? Buying a new car is a horrible investment. Maybe, just maybe, 2014 is the year America will finally take notice. Read these essential five tips you need to know before buying.
Out: Wingin’ it
Let’s make 2014 the year of the budget. It’s cool to budget—it really is! Wingin’ it might work for you when you’re making dinner plans at night, but it’s a terrible way to plan with your money. In with the budget this year! Get started now with free downloadable budgeting forms.
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In: Finding a job you care about
Out: Working a J-O-B just for the paycheck
Do you hate your job? If so, why are you still there? Make this the year that you re-examine your career and do work that matters—both to you and to others. Sometimes, you need to just work to make a paycheck so you can get out of debt. But it doesn’t have to be that way your whole life. Make a career plan this year and pursue it.
In: Giving money
Out: Borrowing money
You already know that taking out a loan is stupid, right? Of course you do. This year, instead of taking out loans, focus on getting out of debt. When you’re debt-free, you’re much more able to help out other people and make a difference in their life. What if you could provide $100, $500 or even $1,000 worth of Christmas gifts to needy children next year? Make that one of your goals in 2014.
If you know Dave Ramsey, you know all of the above will always be in style. These are not passing fads. They’re a way of life.
So what else do you think will be in and out in 2014?