The truth is that many problems contribute to low black homeownership statistics and homeownership rates. Yes, inequalities and racial disparities exist in the housing industry. But improving the black homeownership rate is still important, necessary, and attainable. Let’s take a look at the statistics and what we can do about them.

Why is black homeownership so important?

Becoming a black homeowner and understanding black homeownership statistics is about more than just a home purchase. It’s about laying a foundation for building generational wealth. In addition to being one of the biggest wealth-building assets, it’s also the base for family and financial security.

Here are more specific details about why it’s absolutely worth striving for.

Black homeownership helps build generational wealth

Looking back now at how history is affecting the present, early Black Americans had tremendous difficulty purchasing land and homes in the United States. And unfortunately, this has impacted how easy it is to leave a legacy to future generations.

Passing down a home is just one way that black families can begin to build generational wealth. Without a house as a key asset, each generation must find other ways to acquire enough wealth to leave to their children.

Owning a home provides financial options

A home can be your main vehicle for building wealth and increasing and tracking your net worth. And net worth is a goal worth improving.

But sadly, single black women have one of the lowest rates when it comes to net worth. How can this be changed? One way to close this racial wealth gap is by investing in real estate.

So, what’s the draw of being a first-time homebuyer? Well, for one, you can build home equity which can provide you with more financial options in the future. And you can use this equity in numerous ways.

Perhaps to pay off debt, increase your savings, or invest? Current homeowners can even buy a new home of greater value.

Another way to increase your net worth is to keep your home so it appreciates in value. Its value will increase over time. With this in mind, a home can be one of the greatest methods of wealth creation.

Homes provide safety and community

The benefits of homeownership go further. Not only does owning your own home provide a foundation for wealth building, but it’s also important for families.

A home is a safe space where families can grow and is the cornerstone of communities. A neighborhood filled with homeowners rather than tenants will have pride in their property and the local area.

Black homeownership statistics

Now, let’s examine the numbers and percentages to see how homeownership, income, and other factors affect Black Americans.

Percentage of Black Americans who own homes

Recent data from Census.gov reveals some information about black homeownership statistics:

• In the United States, Black or African American homeowners accounted for only 7.9% of the population, while black renters accounted for 18.8%.
• White households reached a percentage of 73.1% homeowners, with renters at 50.2%.
• The other largest categories of homeowners were Hispanic Americans at 10.5% and Asian Americans at 4.7% for homeownership.

This list reveals significant differences in homeownership. There is a much higher percentage of white families who own their homes compared to black families as well as families of other races.

In addition, the amount of black renter households is much higher than those that own their home.

The data is cause for concern, but we will discuss ways to improve these statistics for Black Americans. Let’s take a look at other factors that affect homeownership rates.

Incomes and other factors

Income affects our everyday lives, including how high of a mortgage payment we can afford. Because of this, it’s crucial to know about income statistics.

According to Census.gov and their chart about real median household income, Black Americans make an average of $52,860 per year.

An average salary of approximately $53,000 may make it difficult to afford a mortgage, depending on circumstances and location. This salary is approximately $4400 a month before taxes, and the median monthly mortgage payment is over $2200, according to Bankrate.

Location also shows differences in black homeownership statistics.

For example, according to the National Association of Realtors (NAR):

• The states with the highest black homeownership rates are South Carolina, Mississippi, and Delaware.
• North Dakota, South Dakota, and Alaska had the lowest rates.
• Including Washington DC, 16 states rated homeownership as higher than 44%.

Why black homeownership statistics are disproportionately low

But black homeownership statistics are still incredibly low. Why? Let’s take a closer look at housing equity and the factors that contribute to the disproportionately lower rate of homeownership for Black Americans.

Lending biases and interest rate disparities impact opportunities for black homebuyers

Housing discrimination is a practice that impedes the ability to rent or buy housing. It also prevents people from getting a mortgage or other housing-related activities. Discrimination is based on race, religion, sex, and other identifying factors.

Redlining was a form of mortgage discrimination or bias. It allowed lenders to deny mortgage loans to people living in areas that African Americans densely populated.

The Fair Housing Act was passed in 1968 to make such practices illegal. Other efforts have been made to undo these years of discrimination in the housing market, such as the Home Mortgage Disclosure Act data, which promotes lending transparency.

However, the effects of these practices still exist. Even today, they still impact homeownership rates.

Another form of home-buying discrimination is the disparities in interest rates.

According to Housing Matters, black homeowners on average are charged a higher interest rate by mortgage firms than white homeowners due to risk based pricing with credit and loan-to-value ratios.

Additionally, African Americans are more likely to be denied a loan. Statista shows that black households have the highest denial rates for mortgages from 2019 to quarter 3 of 2023.

One reason for this may be a lack of information for first-time homebuyers. Black mortgage applicants may not always be aware of the various programs that exist to help them become homeowners. And this continues to put black families at a disadvantage when it comes to acquiring lending.

Disproportionate debt load within the black community

Something else that affects black homeownership statistics is Black American households also have higher debt than other ethnic groups. Specifically with the student debt crisis.

Black students take out the most student loan debt, according to Bankrate, when getting a bachelor’s degree. Bankrate also explains that this has quite an impact following graduation.

Four years after finishing college, black students have nearly double the quantity of student loan debt that white students have. However, this is mainly due to the differences in interest accrual and borrowing money for graduate school.

Debt directly affects home buying. Why? Too much debt could mean lenders decline your mortgage application due to the risk of default.

Debt makes it hard to gain the funding required to buy a home.

Additionally, wage gaps for minorities and women also negatively impact your ability to pay off debt. Again, this makes it more difficult for black borrowers to get a mortgage.

Lack of access to capital for a downpayment

When you buy a home, you need to put down capital as a down payment for the property. Usually, this means saving hard to create this down payment for your future home. But the ability to save enough depends on how much you earn.

And this is another area where Black Americans are at a disadvantage. The annual median wage of all US workers is $42,000, but 43% of black workers earn less than $30,000 per year, according to McKinsey research.

In addition, many families live paycheck to paycheck, unable to even save for emergencies. One study found that most Americans have less than $1,000 in savings.

The result? Some people struggle to earn enough to save for the down payment of a home.

Expert tip: Don’t be discouraged, you can own a home

With all the negative statistics around black homeownership, it can be discouraging to think about owning it a home but it is possible and black homeownership is rising.

That said, it’s important to start saving for your any required home downpayment depending on where you plan to buy and the type of mortgage you qualify for as a first-time homebuyer. The down payment for a home is usually a large expense, but don’t forget that there are also other costs and fees to save up for.

When I was considering a home purchase, I also thought about HOA fees, property taxes, and maintenance costs. These are part of homeownership, so be sure to consider them in your budget before looking to purchase a house. You’ll also need to consider moving costs once you purchase your home.

Steps to improve black homeownership statistics

Ongoing work continues to level the difference between black and white homeownership rates. But in the meantime, there are ways to make housing affordability more likely. Let’s take a look.

Focus on getting financial education

First, focus on financial literacy basics, including budgeting your income. Budgeting means creating a plan to save, reduce debt, invest for the future, and pay bills.

Need some support? Check out our Clever Girl Finance Roadmap. You can also take advantage of our completely free personal finance courses.

Work to reduce debt

As we’ve discussed, debt impacts your ability to purchase and maintain a home.

So before buying a home, work to reduce your debt using a tactic like the debt snowball method. Ideally, you’ll have zero, but if not, try to pay down as much as possible.

Lenders evaluate your debt-to-income ratio. They want to know how much you earn each month and how much of that goes towards paying down your debt. It helps them determine your ability to make your monthly payments.

So, if you have too much debt compared to your income, this could reduce your likelihood of getting approved for a loan. Or it could mean you cannot borrow as much as you need for the home you have your eye on.

If this is a problem for you, consider these debt reduction strategies for attacking your debt.

Begin to prioritize savings (not just for a down payment)

Now that we’ve discussed black homeownership statistics, take steps to secure your financial future before buying a home. Having money saved for emergencies and retirement is necessary for financial stability. So, prioritize this before thinking about saving for a down payment.

But saving on a tight budget can be difficult, so there’s no harm in starting small. Every little contribution you make is a step in the right direction, which eventually adds up. Once you’ve saved for emergencies and put money toward retirement, start saving for a house down payment.

Improve your credit

Unless you’re a cash buyer, you must take out a home loan to buy a property. And credit plays a significant role in getting a home loan.

If your credit score is low, improving it will increase your chances of getting approved for a loan. And better yet, you’ll be eligible for loans with better interest rates.

So, what does your credit score include? Lenders will likely look at several factors, such as your credit utilization, payment history, and credit history length, in addition to other factors like credit mix.

Before applying for a home loan or any other type of loan, it’s essential to know how credit works and how these factors impact your credit score. From here, you can regularly monitor your credit and take the necessary steps to improve your score.

Research the mortgage and lending process

It’s important to know what to expect in a real estate transaction. Loan applications and the mortgage process involve a lot of paperwork.

Be aware of the steps you’ll need to take before purchasing a home, as well as how much house you can comfortably afford to buy.

According to Rocket Mortgage, you’ll need to have information about your job history and what you earn, your credit, and more. They also explain that the process includes a preapproval, an approval letter, and making an offer on a home.

In addition, find out what the cost will be for a median-priced home where you’d like to live. Numerous costs are involved besides the typical home price, including home appraisal/inspection, the cost of furniture, etc.

What is the racial homeownership gap?

The racial homeownership gap refers to the differences between homeownership by race. For instance, there is a large gap between the number of white homeowners and black homeowners in the United States.

As of 2022, the homeownership rate for white homeowners was 75%, compared to 45% for black homeowners, according to the U.S. Department of the Treasury.

What are the barriers to homeownership for minorities?

Some of the barriers for minority home buyers include lender biases tied to higher interest rates.

In addition, income can also be a factor, as lower incomes do not allow potential homeowners to save up a large down payment. Black Americans on average have lower incomes, making saving difficult.

These factors can be daunting, but together, we can all advocate for fair practices with mortgages.

Furthermore, budgeting and consistent saving can help with being financially prepared for a home.

What are the benefits of black homeownership?

Some of the benefits include the ability to build wealth over time with your house as an asset, especially with home improvement, and the option to make rental income if you want.

A house also provides you with security. Once your home is paid for, it gives you a permanent place to live and contributes significantly to net worth.

Articles related to homeownership

If you learned something new from these black homeownership statistics, read these posts to learn more about home buying and finances!

• Should I Buy A House Now Or Wait?
• Is A House An Asset Or A Liability?
• 13 Personal Finance Books By Black Women
• Advice For First Time Homebuyers: How To Prepare

Black homeownership is within reach

The statistics may not seem promising. But the truth is that homeownership is still attainable for black families. Becoming a first-time buyer is an excellent goal to have. Owning a home provides a legacy to future generations and helps build the foundation for generational wealth.

So, if your ultimate goal is to purchase your home, don’t let black homeownership statistics scare you. We can and will close the black homeownership gap with the right education and tools.

What’s next? If you’re ready to purchase your first home, check out our free first-time home buyers course and you’ll be starting on the right path!

The post Black Homeownership Statistics And How Things Can Be Improved appeared first on Clever Girl Finance.

Losing a job is scary for anyone—especially if you haven’t attained financial independence. Not only do you have to figure out how to live without a job, but there’s the added stress of having to find a new one. Though it can be daunting to navigate unemployment, it is possible. Keep reading to learn how.

Here are some key tips for managing your money when you are in-between jobs.

1. Cut back on your expenses

When it comes to how to live without a job the first thing we should all do is to reduce our living expenses by cutting our budget. This includes what we spend on housing, food, and other living essentials. These costs usually take up most of our income, so reducing them will help our money go much further.

Get rid of non-essential spending

Many times, we include things in our budget that we don’t need. These are luxuries that we treat ourselves to but aren’t necessary expenses.

So, when you need to figure out how to survive without a job, it helps to start with your non-essential items.

Some non-essential items to consider eliminating include:

• Subscription services
• Shopping
• Dining out
• Nail & hair appointments
• Entertainment
• Vacation

You can always go back to splurging on these things once you’ve established yourself in a new job. Or, you may find that you don’t want to incorporate them back into your spending.

Save on groceries

Food is another big expense that can cause stress when finances are tight. Of course, you need to eat, but you may have to change what you’re eating and where you’re getting it from.

Here are a few simple ways to reduce food spending and start grocery shopping on a budget.

1. Meal plan

Meal planning is when you create a menu for what you’ll eat for the week. It allows you to shop specifically for those ingredients without wasting money on others you don’t need. I like to think of budget meal planning as having a budget for my food. It’s something I’ve learned how to do consistently to save money over time.

2. Meal prep

When you meal prep, you prepare all of your meals ahead of time. It not only allows you to save time, but you save money by not buying fast food or dining out.

Meal prep helps eliminate the need to buy extra food because it’s already available. And to save more, you can create frugal meals.

Sunday afternoons are the perfect time for me to do my meal prep to prepare for the week ahead. So pick a time where you have a few hours to spare to prep and cook your meals for the week.

3. Use coupons

If you haven’t used coupons for groceries before, now is the time. Look through the best coupon websites or in grocery store’s weekly ads. Saving a few dollars can go a long way.

I make it point to browse my grocery store app for sales and do a quick online search for coupons before I go food shopping.

You can also try to find coupons for all your other shopping needs e.g. for clothing, personal care items, cleaning products etc.

Reduce utility costs

Utilities include the cost of electricity, water, gas, and more. These costs typically fluctuate throughout the year based on the season and are determined by usage.

However, we can all do our part to reduce costs by monitoring our usage.

Simple things like turning off lights when they’re not in use, not idly running the water, and even turning off our heating or air conditioning while we’re away can make a difference.

Implementing these small changes can help reduce your monthly costs while you figure out how to live without working.

Get a roommate if you have the space to spare

The easiest way to reduce living expenses is by cutting them in half.

You can do this by getting a roommate. A roommate can help share some of the expenses and split rent bills so that you can save your money while finding a new job.

So if you know someone looking for accommodation and you have the space to spare, consider renting a room to them.

2. Contact lenders and creditors

Without a job, the priority is ensuring you have your essentials covered. That means any other expense, including debt, should be reduced, eliminated, or deferred.

In addition, as you navigate how to live without a job, you can always contact your lenders and creditors to work out payment arrangements.

Here are some specific things you can do if you are unable to pay your bills.

Ask to defer payments or do a hardship plan

Your lenders can arrange to defer your credit card debt payments due to a job loss.

Your payments will be paused and resumed at a later date. This can be a great help if you are figuring out how to live without a job.

Deferring payments or a hardship plan could apply to credit card debt, car loans, student loans, etc. You may also look into mortgage forbearance if necessary.

Ask for a reduced minimum payment

You may also ask to have your minimum monthly payments reduced. Though this may mean that the length of your debt repayment is extended, it can temporarily relieve you of some expenses.

Ask to reduce or temporarily remove interest

The interest on loans makes the payments significantly more than the original loan amount. Lenders can also reduce or temporarily remove interest so that you don’t accrue more debt and have a smaller payment.

3. See what benefits you qualify for

You may be able to qualify for some benefits, that can assist you with income as you plan out how to live without a job. Most governments and community organizations have assistance programs to help in these situations. See below:

Ask about severance (if not communicated)

Before leaving an employer, knowing if you will receive a severance package is important. A severance package is a financial payment and other benefits extended to an employee who has been laid off. The amount is usually based on your time with the company, and not all employers provide it.

Check with your human resources department or employer to determine if you will receive this benefit.

Apply for unemployment benefits

If you have been laid off from your job at no fault of your own, you may qualify for unemployment benefits.

Each state has different requirements; however, the premise is that you will receive a percentage of your former salary as you look for a new job.

Consider government assistance programs

If you still cannot afford your basic life necessities, the US government has assistance programs. Specifically, there is the Supplemental Nutrition Assistance Program (SNAP), which provides food assistance.

The program provides financial assistance to help people pay for food for themselves and their families. Each state has different requirements to apply and to determine eligibility.

You can find out more on the SNAP website.

Several rent assistance programs are also available if you are struggling to keep up with paying your rent.

You can also explore your state’s Temporary Assistance for Needy Families (TANF) program.

Consider continuing health coverage

Your previous employer likely provided your health insurance coverage.

So once you became unemployed, you also lost your health insurance coverage. For these situations, leverage COBRA.

The Consolidated Omnibus Budget Reconciliation Act (COBRA) allows you and your family to remain on your employer-sponsored health plan for a limited time after your employment status has changed. With COBRA, you will be required to pay the monthly premium that your employer subsidized.

You should research your individual situation to see if the cost of continuing your health coverage is cheaper/better than finding insurance elsewhere. It could be more expensive to keep your old employer’s insurance. Every bit of money you can save counts when you’re figuring out how to survive without a job

4. Find ways to make side income

How to live without working is a big question for anyone to answer, and supplementing income will be crucial. Even with taking all of the steps to reduce expenses and get assistance, you may still want to bring in another income stream as a short-term solution.

Here are some ways to make money without a job.

10 side gig ideas

Starting a side hustle or gig is nothing unusual in this day and age. Even those with full-time jobs sometimes find it necessary to take on additional work to make ends meet.

These flexible gigs are great for extra money, especially if you’re figuring out how to live without a job. Even if the income from your side gig is lower, it’s still worthwhile because it brings in something.

Some might even consider becoming self-employed as a part-time gig. There are plenty of options to be your own boss, from internet jobs like starting a blog or becoming a writer to opening a cleaning business or doing yard maintenance.

Check out these ten ideas for side gigs if you aren’t sure where to start:

1. Food and grocery delivery

Many people don’t have the time or resources to go to the grocery store, so they hire someone to bring their food to them. You can do anything from delivering pizza to shopping and delivering groceries with a company like Instacart.

2. Car share driver

Drive for Uber to pick up some extra cash. It’s a fun way to make some money and help people to get around your city easily.

3. Virtual assistance

Help others to stay organized. General virtual assistant skills include making schedules, answering emails, and handling administrative tasks.

You can work from home and make an income. Use this list of the best virtual assistant companies to help.

4. Freelance marketing

If you excel at content creation and social media, consider freelance marketing. Building up a list of clients may take some time, but you can probably work from anywhere and make a good side income.

5. Server

If you’re social and like a fast paced job, becoming a server in the evenings or on the weekend can be the perfect thing. Check your local restaurants and see who’s hiring, to help you with how to live without a job.

6. Graphic design

If you are an artist or designer, graphic design is easy to do as a side hustle. You can get started by signing up with Upwork to find clients who need design work for their businesses.

7. Pet sit

Are you an animal lover? Pet sitting is not only fun and fairly easy, but it can pay well! Watch people’s pets while they’re away on vacation.

Start dog walking or sitting in your neighborhood using apps like Rover.

8. Deliver newspapers

Yes, newspaper delivery still exists! Check with the circulation department for the paper to see if they need someone to deliver. It’s a good way to enjoy the fresh air and make some money.

9. Sell crafts or handmade goods

If you have a flair for all things creative, making crafts or handmade items to sell can make you a good side income! Try setting up an online store or even selling at local craft fairs. Sell candles, knitted blankets, or any other items you are talented at making!

10. Rent out your car or parking space

If you have a car you don’t use much, or a parking space you don’t need in a busy city, both can make you money, and with little effort. Rent out your car on days you don’t need it using Turo. And if you want to rent your parking space, check out Neighbor.

There are tons of other ways to make money online and in-person. We even have a book dedicated to helping you build your side hustle.

Find something that compliments your skills and available resources, and start making extra cash!

Sell unused items in the house

A simpler way to earn extra cash is to sell unused items in your house. Platforms like Amazon allow you to sell these goods online.

No need for a yard sale when you can simply post your listings on a site. Of course, if you want quick cash, then having a yard sale is always a good option.

Airbnb additional space in your home

Those of us with extra space in our homes may consider advertising our homes on Airbnb. We can temporarily rent out our spaces to travelers to help subsidize our expenses as we figure out how to live without a job.

It’s important to be cautious when considering this as an option. Nonetheless, Airbnb has proven to be a viable solution for making additional income.

You can also choose the schedule you want for guests in your home. And remember, it doesn’t have to be a long-term solution, but just something to get you the amount of money you need for now.

Expert tip: Prioritize your health to reduce stress

Figuring out how to live without a job can be a stressful and challenging experience. Though there are steps that we should take when considering our finances, our health is equally important.

When I need to process how I feel about something, I like to spend time journaling or talking to a trusted friend.

In addition, I prioritize exercising and eating well. Doing this keeps my physical and mental wellness in a good place, which can be especially helpful if you are processing the loss of a job and income.

How do I cope without having a job?

When you are coping with something like job loss, it’s important to focus on the positives and what is within your control.

For instance, you can apply for a certain number of new jobs each day and engage in meaningful tasks and hobbies to keep your spirits up.

You might try gardening, yoga, spending time with loved ones, and other enjoyable pastimes.

Focus on bare-bone budgeting, being frugal, and continue to look for opportunities to make extra income.

What to do if you are broke and unemployed?

If you are broke and unemployed, the first step is to create a more secure financial situation. Once you do that, you’ll have breathing room to think about what’s next.

Start by selling items around the house, take on a side job, or get a roommate to earn an income.

If you have to leverage debt until you find a new job, be as frugal as possible and stick to a budget. Once your income is restored, you can lay out your plans to start paying off this debt.

Be intentional about looking for a new job and networking with friends and past colleagues. Soon, you’ll be back on your feet and earning a paycheck again.

How long can you be unemployed?

How long someone can be unemployed depends on their financial situation. Those who have a large emergency fund or a second income may be able to be unemployed indefinitely or for several months without much of a problem.

However, others who don’t have much savings and rely on a single income will need to find a new job quickly to avoid going into debt or having financial struggles.

I think it helps to create a financial buffer while employed, if possible. Having extra money helps us to avoid feeling stressed should something happen with our current job.

If you are currently unemployed and desperately need to bring in cash, you can consider taking on a short term job, even if it’s below your skillset, to help you get by in the short term.

Articles related to jobs and unemployment

If you found this advice about living without a job helpful, check out these other great reads!

• The Importance of Savings: How I Lived A Year Unemployed
• How To Deal With Long Term Unemployment
• Where To Find Rent Assistance For Single Moms
• Key Resources And Money Tips For Low-Income Families

Final thoughts on living without a job

There are many things that we can do to lessen the financial burden of how to live without working. So consider each of these tips and utilize them.

Additionally, remember to spruce up your resume, learn new skills (there are so many free resources online), and network to help you find a new job quickly.

You can always join our community and take our free financial courses to get help and support as you navigate your transition. Remember, when it comes to how to survive without a job, you can weather through it.

The post 4 Tips On How To Live Without A Job appeared first on Clever Girl Finance.

Learning how to make a money vision board can be incredibly helpful for financial management. When it comes to goals, the adage rings true: “Out of sight, out of mind.” But if you take the time to create a vision board, you’ll constantly be reminded of your goals.

As cited in Verywell Mind, vision boards can improve success and mindfulness. For this reason, creating one can help us stay focused on working toward our financial goals.

What is a vision board?

A vision board is a collage of pictures and phrases that depict things you want to accomplish in your future. It’s a visual representation of your hopes and dreams. Its purpose is to serve as inspiration and motivation for working toward your goals.

Being able to see exactly what you want to accomplish gives you something to work toward, rather than just letters on a page. After all, even though there’s still value in writing your money goals down, seeing is believing!

I personally create a money specific vision board every year to keep me focused on the money goals I want to accomplish.

Why is a money vision board a good idea?

If we think about it, most goals are connected to our finances in some way. Our dream house, car, and vacation will require money. Having a money vision board can help us stay focused on attaining those things.

A money vision board is a great idea because it’s designed to visualize your intentions for money. Whether it’s how to save money, paying off credit card debt fast, or increasing your income, your ideas can be put into visual form.

Financial vision boards often utilize charts (such as a savings goal thermometer) to track progress. So if your vision is to become debt-free, you may include a debt payoff tracker on your financial vision board.

When it comes to saving money, I love coloring in my savings thermometer as I cross each savings milestone that I’ve set for myself. Just seeing this visualize reminds me of the progress I’m making.

Using a vision board to achieve your money goals

Using a vision board for your financial goals is no different from any other goal. The whole point is to create a physical representation of what you want to accomplish. If you’ve had a hard time handling money in the past, perhaps this fun exercise will help keep you motivated.

Plus, building a board for your money can easily be integrated into your financial planning process. As you develop a plan, simply create a board to go with it.

For example, you can think of it as the final seal on your list of money intentions. Here are some steps that I personally use and find helpful. You can leverage them to bring your vision board ideas to life:

1. Decide on a physical or digital vision board

There are several different ways to make a vision board.

For example, you can go the old-school route by cutting out words and images from old magazines, this is my format of choice. Or you can make a digital one using an online graphics tool, like Canva. Both options are free and/or very affordable, so it just depends on your personal preference.

Here’s what you’ll need to create a physical vision board:

• Poster board or cork board: Though most vision boards are pictures glued to a poster board, you can also use a cork board and tack images instead.
  
• Old magazines: You’ll use magazines to find pictures, phrases, and other visual inspirations that represent your goals. They’ll need to be old because you’ll be cutting things out. You may be able to grab old editions of magazines from your local library or convenience store for free or at a reduced price.
  
• Your affirmations or inspiring quotes: These are words, phrases, and sentences that inspire, motivate, and help you focus on what you can achieve.
  
• Images from online: If you can’t find old magazines, you can always find inspiration online. You can print out images that you find suitable.
  
• Glue or tacks: You’ll need to glue or tack your pictures to your poster or corkboard. I recommend a glue stick if you’re using glue.
  
• Scissors: You will cut out images to add to your board, so have a pair of scissors handy.

Here’s what you’ll need to create a digital vision board:

• Powerpoint, Keynote, your Notes app, or a graphics app like Canva
• Digital images
• Affirmations or inspiring quotes

2. Write down your financial intentions before you start

Your intentions will be your foundation. So, the second step in figuring out how to make a vision board is to write down your goals.

These goals should be very clear so that you know exactly what you’re trying to accomplish and how you’ll accomplish it. One way to do this is by using the SMART goals method.

This goal-development method teaches you to create specific, measurable, attainable, realistic, and timely goals. When you have SMART goals, you can easily see what you’re working toward.

For example, my financial goal may be to “save $10,000 for emergencies by Dec 31, 202X.” This goal is very specific; its success can be measured; it is realistic for me, and it has a timeframe.

Since this goal has a very clear description, finding a suitable visual representation will be easy.

No matter what your financial objectives are, it’s important to clearly define them and write them down on paper before you start getting creative and building your money vision board.

3. Consider including charts and graphs

Whether creating a digital or a physical vision board, you want to choose pictures and words that motivate and inspire you.

But don’t forget about numbers! Including charts and graphs alongside the visual elements on your vision board can help make it even more specific to your goals.

Now, when you’re putting together a financial vision board, you may also include money savings charts. Money savings charts are charts that help you with tracking savings for specific goals.

For instance, if one of your intentions is to pay off debt, you could include a debt payoff coloring chart that tracks your progress. Every time you make a payment, mark it on your debt payoff chart—and watch your vision board become your reality!

These charts come is several different styles and formats. You can even design your own. My favorite money chart is the thermometer format.

4. Place your vision board somewhere you can see it every day

The point of creating a vision board is to have visual inspiration for the goals that we’re trying to accomplish.

That said, your board needs to be in your vision literally. In other words, you have to put it somewhere you’ll see it every day!

So think: What place do you most frequent in your home? That’s exactly where your vision board should be.

Put your board in a place where you can see it every day. That way, it’ll serve as a daily reminder to continue working toward your vision.

Consider places like your bedroom, office, or even your refrigerator door. You can even take a photo and make it the screensaver on your mobile phone or computer desktop. I have mine as my phone screensaver and also in my home office.

Additionally, now that you’ve created your vision board, take a moment to review it. Is there anything that you want to add? Do you feel motivated?

If you haven’t already, add phrases and money affirmations that align with your goals.

5. Stay motivated by hosting a vision board party

We all know that there’s a lot of temptation to spend and, thus, a lot of temptation to stray from our money intentions.

So, to help yourself stay motivated and on track, consider hosting a party.

Gather friends together who are also focused on improving their personal finances. You can spend the day together outlining your goals, cutting out pictures, and creating your vision boards. Then, you can check in with each other monthly to follow up on your progress.

Believe it or not, this sense of accountability can go a long way in helping you achieve your goals. As Forbes explains, “…accountability groups can positively impact task performance and academic performance.”

6. Track your progress with a money journal

Creating a board for money goals is a great way to get inspired and energized to start working towards your long-term financial goals. But over time, it’s easy to lose some of this initial momentum.

One way to help yourself stay on track with your personal finances is to start a money journaling habit.

Money journaling is more than just writing down what you spend and save each month. It’s also a place to take notes on how you feel about your spending and saving, your thoughts on your finances, and your observations on your goal-tracking.

Don’t think journaling is worth the extra step? One study discovered that those who write their goals are 42% more likely to actually accomplish them.

7. Edit as you go

Another way to track your progress toward your financial goals is to edit your money vision board.

We already talked about adding money savings charts. But if you’re not a facts-and-figures person, there’s still another way you can track your progress visually on your board.

For example, suppose you’ve added three goals: 1) Pay off credit card debt; 2) Start emergency fund; 3) Open retirement account.

Every time you meet a goal, you can draw a big green checkmark next to it. For one, drawing this checkmark will probably feel satisfying. (You know that feeling of crossing an item off your to-do list?)

Plus, it’ll be another visual reminder that you are making progress on your goals—which will give you more motivation to keep going.

8. Consider creating multiple vision boards

If you have a lot of different financial goals, making more than one vision board may make sense.

Here are a few different ideas:

For example, suppose one of your goals is to save up for a down payment to become a first time homebuyer. That could be the subject of one board, where you’ll include pictures of your dream house and inspiring quotes about homeownership.

At the same time, you might have another financial goal to spend less each month by adopting minimalism. On this vision board, you can focus on minimalism.

Write down minimalist quotes to remind yourself that less is more, and you don’t need to buy that new dress this month. You can also include a chart where you list all the things you wanted to buy but didn’t to congratulate yourself on your willpower—and keep up the good work!

Vision board ideas

If you are still stumped on what to include in your vision board, you can always find inspiration on sites like Pinterest. Doing a quick Google search will also lend some examples as well. Remember that your vision board is unique to you, so only use them as inspiration.

Travel example

Here is an example of a financial vision board I created several years ago. At the time I was on my debt-free journey. I also wanted to save money, overcome budget challenges, and budget effectively so that I could travel the world.

As you can see, I included phrases like “saving money,” “debt-free,” and “budget” on my money vision board as a reminder of what I was working toward. I also included flags and cutouts of different countries I wanted to visit once debt-free.

If you have a keen eye, you’ll notice that debt-free is crossed out and that there’s a checkmark beside the word budget. There’s also a year under the flag for the United Kingdom. That is because I was able to actually accomplish these things!

After getting on a budget, I could pay off debt, save money, and travel abroad. There are still several flags and countries that don’t have a year below them, which means it’s still something that I’m working toward.

Though this board is several years old, I still keep it nearby as a reminder of the things that I still want to accomplish financially.

Debt-free & savings example

If your goal is to become debt-free, here is a debt-free vision board example. As you can see, this board includes images of someone cutting up a credit card and a savings goal of 26%. This is a very vivid representation of their financial goals.

First home example

Need some inspiration for buying a house for the first time or even your dream house? Here’s my latest board that includes images of home elements I plan to have.

The board also includes images and a phrase related to money. That’s because I’ll need to have money saved and a plan of action to achieve this new financial goal.

Investing & early retirement example

Are you interested in retiring early? Check out this simple vision board.

Investing and retiring early often go hand in hand. That’s because if you can invest strategically, you can withdraw from your investments to retire early. Learn more about what it means to achieve early retirement.

As a reminder, these examples are all meant to inspire you. Find what motivates and inspires you when creating your board.

Expert tip: Keep a positive money mindset

It’s clear that building a vision board can play a big part in helping motivate us to work towards our money goals. But don’t forget to approach it with the right financial mindset.

After all, learning how to create a mindset of financial abundance can help you realize your dreams.
Whether you want to save a certain amount of money, retire early, buy a house, etc., a mindset of financial abundance helps you remember that the goals on your vision board are achievable—and that with the right planning and action, you can make them come true.

How do you format a vision board?

There are several different ways to format a vision board, but the first step is to always clearly define and set your short and long-term goals.

You can do this digitally, with a Word document, a spreadsheet, or just your Notes app. Or you can go old-school and just start writing on a blank piece of paper with a pen. You can even get creative and color-code your money intentions with a marker.

After you know what your goals are, find images and words that align with them, and add them creatively to your board. It’s all about creating something that’s to your liking visually so that when you look at it you feel inspired and motivated. So tap into your inner artist!

You can also find great vision board photos and examples on sites like Pinterest or watch YouTube videos on how you can create a vision board.

What questions should you ask yourself when creating a financial vision board?

Creating a financial vision board isn’t just about cutting out pictures of things you want to buy. Instead, you need to take the time to sit down and really assess your personal finances and your goals.

You can ask yourself questions as they related to your financial goals. For example, ask yourself:

• Do I have debt I want to pay off? How quickly do I want to pay it off?
• Do I want to build an emergency fund? How much do I need to save?
• I want to save for my children’s college education with a 529 plan; What would that cost?
• Am I saving enough for retirement? How do I bridge any gaps?
• How do I adjust my retirement strategies to retire at 50 instead of 65?
• What does my dream home look like? What views do I want to see from the windows?

Questions like these can help you get clear on what you should place on your vision board.

Articles related to having a plan for your money

If you know that having a vision board will help you with your money, these other posts will also inspire you!

• Changing Your Perception Of Money
• Motivation For Saving Money: 12 Top Tips!
• 10 Money-Savings Charts To Save More Money
• Examples Of Financial Goals

Knowing how to create a money vision board can help you improve your finances!

Money vision boards are an extremely valuable tool for helping you reach your financial goals. They’re also a fun exercise, and you can get as creative as you want when making your own.

The truth is that merely writing your goals down and visualizing them won’t automatically help you achieve them. You must also do the necessary (sometimes hard!) work and hold yourself accountable.

The best way to do that is to surround yourself with others working toward similar goals. You can even get an accountability partner to work alongside side you.

If a community is what you’re missing on your financial journey, then check out the Clever Girl Finance courses and community. Here, you’ll find the resources and accountability you need to be successful with your money.

The post 8 Tips To Make A Money Vision Board appeared first on Clever Girl Finance.

Pre-approved credit cards are one way that credit card companies attract new customers. These offers are typically sent by mail to potential cardholders who meet some minimum criteria for approval.

If you’ve ever received one of these offers, you may be wondering how it impacts your credit score. Or perhaps you are wondering what to do next. But first off, what does pre-approved for a credit card actually mean? Unsure what it means to be pre-approved or what to do if you are pre-approved? Keep reading!

What does pre-approved for a credit card mean for you?

Being pre-approved for a credit card means that based on certain criteria, you are likely to be approved for a credit card if you were to apply. This may also be referred to as pre-qualification. However it is not a guarantee.

In most cases, it simply means you have a minimum credit score and a good credit history. Sometimes the issuer asks you for more information such as pay stubs or annual income. You will still have to go about completing that application process to be approved for the advertised credit card.

Additionally, in most cases, a pre-approval is simply a form of promotional and marketing material. The purpose is to encourage you to apply for the credit card that is being offered. In some cases, you may be offered specific rewards for applying. It’s a tactic credit cards companies typically use to get new customers.

Keep in mind that getting a pre-approved credit card offer in the mail, by phone, or email does not mean that you have been fully-approved.

What is the difference between pre-qualified for a credit card and pre-approved for a credit card?

So what does a pre-approved for a credit card mean versus being pre-qualified? Pre-approved vs pre-qualified credit cards are often used interchangeably but they do have one slight difference.

Pre-approval credit card offers

A pre-approval offer is initiated by the credit card company e.g. American Express, Discover, Bank of America, Chase etc.  When you’re pre-approved for a credit card, it typically means that the credit card company has reviewed your credit history and financial information in more detail and has determined that you meet their criteria to apply for the card.

Pre-approval often involves a soft credit inquiry, which does not impact your credit score. However, the issuer may still perform a hard credit inquiry when you formally apply for the card. In some cases they may run a hard inquirary on your credit score. They may also ask for additional information about your financial situation, such as your pay stubs or W-2 statements.

Pre-approved offers are more likely to result in an actual approval when you submit an application. However, they are still not a guarantee.

Pre-qualified credit card offers

Contrarily, a pre-qualified offer is an earlier step in the screening process. A pre-qualified offer is usually based on even more limited information about your credit profile, but does not involve a hard credit inquiry or other financial information.

When you’re pre-qualified for a credit card, it means that the credit card company believes you may be eligible for their card based on the information they have. That said, it’s not a guarantee that you’ll be approved when you officially apply.

Now you know how to decipher what pre-approved vs pre-qualified means the next time one of these offers come your way.

Expert tip: Only apply for a credit card if you are ready

While getting an email or letter that says you are pre-approved for a credit can be exciting, don’t be swayed into getting a credit card unless it makes sense for your finances.

Even if a credit card offers a ton of rewards, it can still lead to a life of debt. If you do get a credit card, make sure you are responsible with it and pay it off in full each month to avoid getting into debt.
How to get pre-approved for credit card offers

Credit card issuers and other lenders have the ability to access information on your credit report in order to offer pre-approval to you.

Consumer reporting companies, or credit bureaus, provide a list of qualifying persons who meet the company’s requirements for pre-approval. Obtaining this information is considered a soft inquiry on your credit report.

In general, if you maintain a good credit score and have a good credit history, you’ll increase your approval odds. You don’t have to wait for an offer to be pre-approved for a credit card. Most credit card companies allow you to check to see if you are pre-approved for their credit cards by completing a brief application on their website.

By filling out a short form with your social security number, information about your income, employment, and financial obligations, you can quickly find out if you qualify.

A pre-approval offer isn’t necessary to apply for a credit card, though. You can simply apply for a card directly on a card issuer’s website.

Do credit card pre-approvals impact your credit score?

When a credit card issuer does a soft inquiry on your credit report to check for pre-approval, it does not negatively affect your credit score. These types of credit checks also do not lower your credit score. You will be able to see them in your credit history if you request your credit report from any of the three main credit reporting bureaus: Experian, Equifax, and Transunion.

However, when you actually apply for a credit card, a hard inquiry is made. This does lower your credit score. Because of this, you want to limit the number of hard inquiries made on your credit.

Before applying for a credit card, check to see if you are pre-approved on the card provider’s website. This will help you avoid having a hard inquiry that lowers your credit score for a card that you don’t qualify for.

What to do if you get pre-approved for a credit card

If you get pre-approved for a credit card, the first thing that you should do is decide if a credit card is right for you.

You may not have been thinking of applying for a credit card prior to receiving the promotion, so don’t feel pressured to apply. If a new credit card isn’t right for your financial situation, simply toss the offer away (securely). There are many advantages and disadvantages of credit cards, so make sure it makes sense for you before you apply.

If you are in the market for a new credit card, follow the instructions provided in the offer to apply. Remember, applying requires a hard inquiry on your credit. So be sure that you are truly interested in applying.

What to consider before applying for a credit card

A credit card can be a big financial commitment. Before applying for one, there are a few things that you need to take into consideration.

Interest rates

The annual percentage rate (APR) is the interest rate that you will pay on any balance that you carry from month to month. The higher the rate, the more money you’ll have to pay above your principal balance amount.

Credit card interest rates can get extremely high, so it’s important that you know this rate before applying for a card.

Fees

Some credit card companies charge annual fees, foreign transaction fees, and late fees. These are charges that you should be aware of and prepared for as a potential cardholder.

You don’t want to be blindsided by additional fees on your bill. Take the time to review these fees beforehand so that you can learn how to avoid them.

Rewards

Credit card companies are always competing on incentives to attract new customers. Some offer cash back incentives, while others may offer travel points. Look up the different rewards offered by the credit card company.

Take these into consideration when you’re deciding which credit card offer to apply for. Ideally, you’ll want to apply for a card with rewards that are advantageous to you.

Your current debt load

A credit card should always be handled responsibly. Without a solid financial plan to manage your money, you can easily find yourself in mounds of credit card debt.

If you already have a significant amount of debt, applying for a credit card may not be the best option for you. Instead, work to pay off your debt first.

Does pre-approval mean you will get approved for a credit card?

Pre-approval for a credit card increases your likelihood of approval, but it doesn’t guarantee it. Pre-approval is based on a soft credit inquiry and preliminary information.

Final approval, on the other hand, depends on a more comprehensive assessment, including a potential hard credit inquiry and the credit card issuer’s discretion. Your financial situation can change between pre-approval and formal application, impacting the final decision.

Can you be denied a pre-approved credit card?

Yes, you can be denied a pre-approved credit card. Pre-approval is based on a preliminary assessment and soft credit inquiry, but the credit card issuer may still decline your formal application after conducting a more thorough review, including a hard credit inquiry. Factors like changes in your financial situation or discrepancies in your application can lead to a denial despite pre-approval.

Is getting pre-approved a good thing?

Getting pre-approved for a credit card is generally a good thing. It indicates that a credit card issuer believes you meet their initial criteria, increasing your likelihood of approval when you formally apply. However, it’s not a guarantee of final approval. You should still consider factors like interest rates, the annual fee, and any rewards before deciding to accept the offer.

Will accepting a pre-approved credit card hurt my credit score?

Accepting a pre-approved credit card normally include a soft credit check, which does not hurt your credit score. However, in some cases, it can involve a hard credit inquiry.

A hard inquiry can temporarily lower your credit score by a few points. However, this impact is usually minor and can be offset by responsible credit card usage over time.

More articles related to credit

Found this article on what pre-approved for a credit card means? Check out this related content!

• Does Checking Your Credit Score Lower It?
• Does Refinancing Your Car Hurt Credit?
• How To Use Credit Cards Wisely
• 27 Tips For How To Pay Off Credit Cards Fast

Make smart choices if you are pre-approved for a credit card

Now that you know what pre-approved means for a credit card, you can figure out your next steps. Remember that getting pre-approved for a credit card does not guarantee that you will be approved. It also doesn’t mean that you even need to apply. It is simply an offer to apply that you can choose to accept or decline.

If you no longer want to receive these offers, you have the legal right to opt out of this marketing at OptOutPrescreen.com. Note that it can take up to 60 days before you stop receiving these offers.

Ultimately, credit cards can be used responsibly to build your credit. If you’re interested in learning more about building or improving your credit, enroll in our free credit course!

The post What Does Pre-Approved For A Credit Card Mean? appeared first on Clever Girl Finance.

Budgeting as a couple is critical in managing your household finances. Your budget not only allows you to plan and track where the money will be spent, but it enables you to direct the course of your finances together. It also helps you stay on the same page on your financial goals.

If you or your spouse haven’t created a budget before, you’re not alone. The NFCC’s Consumer Financial Literacy Survey found that only about 47% of Americans have a monthly household budget that closely tracks their spending. 

For couples, budgeting can be a touchy subject, especially if one is a saver and the other is a spender. But you can be successful at it and have fun while doing it, too. When budgeting as a couple, the most important thing to remember is that a budget is simply a plan for your money.

And, like all plans, you should discuss, tweak, and revisit it often to ensure that you reach your end goal.

5 Steps to get started budgeting as a couple

Figuring out how to budget can seem confusing in itself since there are so many ways to approach it. Keep in mind that it can be a fun and positive challenge you take on with your partner. It comes down to six basic steps:

1. List all of your combined income sources and amounts

Knowing how much money you have coming in to cover your expenses and other items in your budget is of utmost importance. In fact, your income should be the first item that is listed on your budget.  

To begin creating your budget, list out all of the expected income that you and your spouse will receive during the time period that you’re budgeting for. Again, this could be a week, two weeks, or even a month. 

Income can come from more than just your 9-to-5 salary. Don’t forget to include income sources like:

• Side-hustle money
• Bonuses
• Dividend income
• Rental income
• Royalties
• Refunds

Once you’ve created a list of all of your combined income sources, list out how much you expect to receive from each one. Add these numbers together to get a total of how much income will be coming into the household to cover expenses for that budget. 

List this number at the top of your budget and remember that your expenses should NOT exceed it. 

2. List out all of your joint household expenses

After calculating your total income, list your expected expenses in one column. There are some expenses that don’t change from month to month.

For example, rent or mortgage, groceries, and electricity are recurring expenses that you’ll need to account for. These recurring expenses can be sorted into twelve standard household budgeting categories.

12 Common household budgeting categories

1. Saving
2. Giving
3. Housing
4. Transportation
5. Utilities
6. Food
7. Personal Care
8. Medical/Health
9. Insurance
10. Household goods/supplies
11. Debt payments e.g. student loans, credit card debt, car payments
12. Entertainment/Fun such as at home date night ideas

Grouping your expenses into these categories not only keeps your budget organized, but it allows you to see where the majority of your money is being spent.

Simply list your expenses within the categories that they belong to. For example, your “housing” category could include mortgage, homeowners association dues, lawn care, and property taxes.

Even if an expense doesn’t occur each budgeting period, you can still include it in your standard list of expenses.

3. Estimate how much you will spend on each item

Though some expenses may be recurring, the total cost may not be the same every time. Therefore, it’s important to review your expenses each time you create a new budget.

Estimating and listing your expenses also allows you to see what can be reduced in your budget to free up cash for other things.

The easiest way to estimate your expenses is to take an average of what you’ve spent over the prior months. An example would be taking a three-month average of your grocery costs to get an estimate for the coming month.

In some cases, you’ll know the exact amount from a billing statement, while in other cases you’ll just need to make a decision on what your limit will be.

This is true for expenses like gifts and savings. You can determine what you want to budget for these line items. However, the key is coming up with realistic budget amounts that you can both afford and stick to.

Total up these estimates and subtract them from your estimated income. Does it exceed your expected income? If so, you need to reduce some of your expenses. If it’s less than your expected income, allocate the additional money to savings or debt payments.

4. Track expenses

The most important part of budgeting is tracking your expenses. After all, you need to know if you’re staying within your budget.

Keeping an eye on your expenses also doubles as reminders for due dates. It helps you pay for bills on time and avoid penalties and fees.

There are two ways that you can easily track your spending with your spouse:

Shared spreadsheets or templates

You can house your budget spreadsheet on Google Drive or Dropbox so that you and your spouse have access to reference or edit it at any time. Here are some awesome budget templates as well as an example of a budget.

Budgeting apps

There are tons of budgeting apps that allow you to connect your bank account and debit cards to track your spending. These apps even go as far as putting your expenses in the right category and alerting you when you’re nearing your budgeted amount.

You can log your expenses as they occur or have a set time each day to do so. Either way, you’ll need to be consistent about tracking your spending if it’s not being done automatically by finance apps. 

5. Schedule a standing budget meeting

Remember, in order to be successful with budgeting as a couple, your budget is a plan that needs to be discussed, tweaked, and revisited often.

To ensure that this happens, schedule a standing budget meeting with your spouse. The intent of your budget meeting should be to review your spending and to create your next budget before you get paid.

Make the conversation fun and relaxing (cook a nice dinner!) and plan out your bills and expenses that you know are coming up. This way your dollars are allocated in advance.

You can also discuss upcoming expenses and go over your money questions. At its conclusion, there should be an agreement on what the upcoming budget will be and it should be documented.

6. Talk about your finances often

Your budget meeting does not negate talking to your spouse about the budget and spending as needed. You should be in constant communication about your finances and spending. It’s all about getting to the point where talking about your finances is just something that you do!

Expert tip

Budgeting as a couple requires dedication and being accountable to each other. Remember that your goal is to support each other and achieve your goals together.

The first step is to create a budget you both agree on. Then, keep checking in and talking about what’s working, what’s not working, and what needs to change.

What is the best way to budget as a couple?

The best way to budget as a couple is by coming up with a budgeting approach that works for you. That said, you’ll both need to keep in mind and agree on a few other things to make it all work:

Create your budget with your spouse before you get paid

You must be proactive and not reactive with your money. If you wait until after your income arrives to create your budget, it is no longer a plan. 

Before you sit down to create your budget, talk about how you both approach money. Understand each other’s spending habits and goals so you have a basis moving forward.

Budget as often as you get paid

Correlate your budgeting to every time you get paid. If monthly you should budget monthly; if bi-weekly you should budget bi-weekly.

This allows you to align your expenses with your income and not overspend. Make sure you are both aware of each others’ pay dates so you know when to expect income.

Don’t budget for more expenses than your income

Your budget should help you stay within your financial means and not overspend. If you find that your expenses exceed your income, it’s time to sit down and take a long hard look at where you can cut back or how you can increase your incomes.

Track your expenses jointly and consistently

This is the only way that you will be able to see your performance and progress toward the plan. You have to know what expenses you both have. You also need to know what irregular expenses you both have coming up.

Make budgeting and tracking your expenses easier by calling your providers and changing the due dates on your bills. So, they coincide with when you get paid.

Stick to the plan you both agree on

If you have to deviate from your budget, make sure to talk about it first. Not only will this avoid conflict, but it will also help you maintain trust with your significant other around your finances.

The last thing you want is to get into a big fight or feel disappointed because one of you didn’t honor the agreement (i.e. your budget) you both made.

Review how you’re spending against your plan regularly

Your budget will evolve as your needs, wants, and goals change. That’s why it’s important to review and pivot if necessary.

Talk about your transactions, go over your bank statements together. But remember to make it an exercise, not an argument.

Talk about your long-term goals as well

Take some time out to talk about your dreams and goals and how you plan to approach them. Want to launch a business? Travel the world? Save a million dollars and get a Certified Financial Planner to manage your portfolio?

These are conversations you should have and start planning together. A good idea is to create specific categories within your budget that includes your long-term goals like retirement savings, no matter how small you start.

Listen and communicate

Communication is the foundation of success in marriage and in budgeting as a couple. There will be times when you don’t always agree on your money choices.

The key to getting past the disagreements is by listening, communicating your own point of view, and coming to a common ground or mutual agreement. Remember, you are a team, not rivals.

Leverage budgeting tools

Budgeting as a couple is still doable with finance apps and budgeting tools. Apps allow you to track your income and expenses, update your budget categories, or keep an eye on your savings accounts balances.

YNAB (You Need a Budget) is a great app for most budgeting needs. Budgeting for couples is easier with Honeydue. Meanwhile, Goodbudget works like digital envelopes. Check them out and see which ones you like best.

What is the best budget for a married couple?

The best budget for a married couple all depends on your personal preference. You can create a budget using cash envelopes, percentage based budgeting, zero based budgeting, or reverse budget, for example.

Cash envelope budgeting is exactly what it sounds like. You put cash into different envelopes based on your spending categories. If you find yourself over drafted one too many times, this might be an effective method for you.

Percentage budget like the 50-30-20 method is as simple as can be. The rule is to divide your after-tax income into three categories like so; 50% to needs, 30% to wants, and 20% to savings.

On the other hand, a zero-based budget asks you to assign a job to every dollar you earn while reverse budget tells you to put money in savings first before figuring where to spend the rest of your income. Try either of these methods if you’re focus is on saving or if you have irregular income.

There are several other budgeting methods, you just have to find one that suits your lifestyle.

How do you split finances as a couple?

When it comes to how you split finances as a couple, who pays for what in your relationship comes down to personal preference. There is no right or wrong way to do it, but communication is key.

Start with being open and honest about your needs and goals. At the same time, consider the differences in your income. So, one partner may pay for the mortgage, and the other picks up the electric bill and car payments.

You can also open joint accounts where both partners contribute each month. Then, use the account to pay for your spending. Conversely, you can use joint accounts to save for expenses like a wedding or a down payment on a home.

Articles related to budgeting as a couple

If you enjoyed reading this article and would love to learn more about managing your finances as a couple, check out this related content!

• Is Opening a Joint Bank Account a Good Idea?
• 20 Couples Challenges To Improve Your Finances And Relationship
• 20 Money Questions To Ask Your Partner In A Relationship
• 23 Best Side Hustles For Couples

Budgeting for couples can be a breeze!

By applying the tips we share in this article to your budgeting practice, you’ll stay on track with your financial goals and your spending. Ultimately, you want your budget to help you manage your finances, not feel like a trap.

Budgeting as a couple is one of the best financial decisions that you can make in your relationship. It allows you to talk about and work toward your financial goals together.

So use budgeting as a tool to generate much-needed money conversations in your marriage and to avoid disagreements around how money is spent. Be sure to check our top relationship advice for women about money!

The post Budgeting For Couples: How To Budget As A Couple appeared first on Clever Girl Finance.

When it comes to relationships, talking about money can seem a bit taboo. After all, queries about finances are hardly considered romantic questions. Nonetheless, knowing what practical money questions to ask your partner is important when you’re thinking of a future together.

With money being one of the leading causes of divorce, it’s important to talk about it before you say, “I do.” So if your relationship is headed toward marriage and you’re already looking at the average wedding cost, or you’re wondering about questions to ask before moving in together, finances are one thing you want to talk about for a long-term relationship.

Learning how to communicate with your partner about finances is an adventure and it’s also very important, so let’s get into the top financial questions couples should discuss.

20 questions to ask your partner about money

Money is worth discussing in any committed relationship. Finances are an essential part of each person’s life.

Not sure how to bring up the topic? Here are 20 financial questions to ask in your relationship.

1. How would you describe your spending habits?

Differences in spending habits can cause huge riffs with finances in marriage. Imagine being someone who saves every penny while your partner spends every cent they earn. It’s hard to get on the same page when you’re at two opposite ends of the spectrum.

It’s important to know how your partner spends their money when sharing finances. And it goes beyond whether they are a spender or a saver. You need to understand if they actually spend responsibly or on a whim—without regard to a budget.

Knowing how each of you spends money will allow you to determine how to manage your money together.

2. How do you feel about debt?

The unfortunate reality is that most people have some kind of debt. Debt includes student loan debt, car loans, credit card debt, mortgages, and more.

Having an excessive amount of debt can cause both financial and emotional strain on a relationship. Debt hinders your ability to save, invest, and simply enjoy life, which may create debt stress.

The purpose of asking this question is to learn how your partner feels about debt, not just to determine if your partner has debt and how much.

Does your partner believe in keeping debt, or do they believe in being debt-free?

Knowing the impact that debt can have, it’s important to know how your partner handles their debt. If you’re a person who doesn’t like having debt, being with someone who is ok with it may be an issue. That’s why it is one of the most important questions for couples to ask as a relationship gets serious.

3. What did you learn about money growing up?

A lot of what we do as adults stems from what we learn as children. The things that we see, hear, and are taught as children ultimately shape our adulthood. Which includes how we handle our money.

If you’ve never learned how to spend money wisely, it’s likely that you’ll also handle money irresponsibly—if you aren’t taught otherwise.

Asking your partner what they learned about money growing up will shed some light on why they handle their money a certain way. It will also allow you to give some grace when they may make some mistakes.

You might ask if they had a job or earned money from doing chores as a kid. Were they given spending money? Did they save any money or spend it all?

Any questions like this will give you an idea of where your partner stands with money today.

4. How did your parents handle money?

For many of us, our own money story came from watching our parents. You may have seen them paying bills, or maybe you had the kind of parent who was stressed by unexpected expenses. You may have also seen one parent handle the money while the other didn’t.

How your parents handled money informs how you may handle money within a relationship.

For instance, if your parents managed money together, it may be important for you to do the same with your partner.

If you grew up in a single-parent household, you probably learned to be financially independent at an early age.

One of the good questions to ask your partner is how their parents handled money and, in turn, how they would like to handle money within a serious relationship.

Do they have specific views on who should handle money in the relationship? Do they believe that both partners should make money? Not knowing about your partner’s expectations can lead to relationship communication problems.

5. How do you think couples should manage their finances?

Although our parents shape how we handle money, it’s important to know your partner’s perspective on how couples should handle finances. Their beliefs about how couples should manage their money may not be the same as their parent’s beliefs.

Do they believe that you should combine finances? Is the man responsible for managing the money? Should you have separate bank accounts, or do you want to consider opening a joint bank account?

These are all things that can help you understand how you will handle money together.

6. What tools do you use to manage your finances?

You should have a plan for managing your money if you’re going to be financially responsible. Whether it’s a written-down budget, an app that you use, or even one of the best budget templates, you should have something that allows you to plan where your money is going.

The actual financial tool that they use to manage their finances really isn’t important.

What you really want to gauge is if they are proactively planning their money. Are they being fiscally responsible or just leaving everything up to chance? Do they have at least an example of a financial plan they’d like to follow?

7. Are you saving for retirement?

As you and your partner think about the future of your relationship, you should also be thinking about your financial future. In other words, are you preparing yourself for retirement?

Although retirement may seem far off, it’ll give you a good perspective on your partner’s forward-thinking and planning for tomorrow. Are they saving for retirement? If not, this may pose a problem later on if you choose to get married.

Not having retirement savings means that you and/or your partner will have to continue working in order to have the funds to live on in old age. Is this something that you’re ok with?

Even if they aren’t saving for retirement now, asking them questions may spur them to get started.

8. Is investing important to you?

Investing is a vehicle for building wealth. If you want to build generational wealth, you should be thinking about how you can invest your money so that it can grow.

If wealth accumulation is your goal, you’ll want to know if your partner is on the same page. Even if they aren’t investing at the moment, having a plan to at least invest in the future will show their commitment to building wealth.

In addition, what sort of investing do they prefer? People have different tastes and risk tolerances regarding investing. Some people prefer low-risk options like bonds, while others are more interested in investing in single stocks.

Although these are extreme examples, you can see why you’d want to know if your investment styles are similar.

9. Do you financially support anyone else?

If you’re planning on combining finances after marriage, you’ll need to know where your money will be going. So one of the most vital questions to ask your partner is if they are financially supporting anyone else. It could be a child, parent, or other family members.

Financially supporting someone outside of your household could become a financial strain. Being aware that this is a responsibility ahead of time will allow you to plan and budget accordingly.

It’s also the perfect time to decide if financially supporting family members outside of children is something that you agree with. You should seek to understand each other’s financial boundaries when it comes to supporting others and how that will affect your relationship.

10. What are your short-term financial goals?

It’s important to have goals when it comes to your finances. You should always have a plan for your money. Otherwise, you’ll find yourself wondering where your money has gone.

Short-term savings goals and financial goals are things that you want to achieve within the next 2 years. It can be anything from saving for a vacation budget to starting an investment account. Knowing your partner’s goals shows you where they’re headed and, ultimately, what they are working towards.

Everyone’s goals are different, so it’s not about whether they have the “right” goals. It’s about understanding their aspirations and how you can support them.

11. What are your long-term financial goals?

In addition to understanding your partner’s short-term financial goals, you should also inquire about their long-term financial goals.

Goals that take a long time are things that you plan to accomplish with a 5-year plan or even longer. It can include things like deciding to pay off debt or save, purchasing a home, or even hitting a specific savings milestone.

Again, this question isn’t to judge what their goals are. Instead, use it as an opportunity to gauge if they have a plan of action. Also, consider how your relationship fits into these plans.

12. What do you tend to splurge on?

You may have a lot of curiosity about this question. We all have something that we tend to splurge on. Whether that’s food, clothes, or even the more expensive handbag brands, there’s something that we’re willing to spend more money on. Find out what that item is for your partner.

Although most splurges are harmless, some things can pose a financial risk.

For instance, if your partner has a shopping addiction or spends a lot of money gambling, it can have long-term consequences. So it’s important to understand what they splurge on and if it is something that you’re comfortable with.

13. How do you handle financial emergencies?

At some point, we’ll all experience a financial emergency. The important thing is how we handle them.

The best way to prepare for any financial emergency is to have an emergency fund. An emergency fund is a savings account dedicated to paying for emergency situations, like an unexpected car repair.

You’ll want to know if your partner is financially prepared for emergencies. Do they have money saved to cover these expenses, or do they rely on credit cards instead? It’s one of the important financial questions to ask your partner because you both need to be prepared for unexpected events!

14. Are you currently saving for anything?

Another great money question to ask your partner is if they are currently saving for anything. Saving for large purchases shows their commitment to working towards a goal. It also shows that they’re willing to have delayed gratification.

If they don’t currently have things to save up for, ask if they typically save up for large purchases. You may find that they are in a financial position to cash flow everything. Or, you could find that they leverage credit cards or loans to fund expenses that they can’t afford.

15. Is giving a part of your budget?

You can tell a lot about someone’s personal core values by how they spend their money. If someone values helping others, then giving will likely be an integral part of their spending. That’s not to say that money is the only way to give back; however, if you have the financial means, you’ll likely give.

Find out if your partner thinks beyond themselves financially. Do they give to charities and philanthropies? Is helping others at the forefront of their financial planning process?

Not only does this show a commitment to making the world a better place, but it also shows that your partner is able to think about and help others.

16. If you had unlimited money, what would you do?

One of the more fun questions to ask your partner about money is this one. It’s a low-pressure opportunity to find out what their financial goals and hopes for the future are.

You will also get a good sense of how realistic and achievable their money dreams are, as well as how you might be able to work towards those things together with financial goal setting.

Asking your partner what they would do in this situation can show you how they plan with money, what their dreams are, what they spend money on, and what they value most.

17. How do you want to handle shared expenses in the future?

It may seem like one of the more intense questions for couples to ask about money, but if you’re considering living together, you need to know what expenses each person will pay.

Will you consider opening a joint bank account or keeping everything separate? Who will be responsible for what bills? It can stop a lot of confusion to know these things in advance.

18. Do you make budgets often or never?

Asking about budgets will tell you a lot about where your partner stands with money. Your significant other may say that they never make a budget, that they are budgeting weekly, or even just once in a while.

Since budgets help you organize your finances and decide what to do with your money, it’s best to make them a regular practice. If you start to pay expenses together, a budget that both of you agree to will help keep you on track.

19. What amount of income do you think is needed for your ideal life?

It’s a fun question, and it will allow you and your significant other to dream about what the future holds. Asking them how much money is needed for their ideal life will help you both to consider what you want in the next ten or twenty years, as well as the type of career or income necessary to live richer.

Think beyond expenses to also include things like investing, owning real estate, and other important financial milestones.

20. Do you have credit cards?

Credit cards can often be related to debt, but not always. Some people have credit cards that they use and pay off every month, which shows they are using credit cards responsibly. Others use credit cards without a plan and may build up debt over time.

Asking about credit cards can help you to know where your partner stands with money and how responsible they are when using credit.

Furthermore, do they use credit cards or take out loans to fund their lifestyle? Would they spend more than they can afford on a favorite holiday to get the best gift for everyone? Using debt could mean living beyond your means if you decide to combine finances.

Find out if your partner has credit cards and how they use them to decide if you are okay with that type of lifestyle for your money in the future.

Expert tip

Any time you and your partner can communicate about money is a good opportunity to learn something new about them. You may find over time that you have similar views about finances or very different ones.

Regardless of your previous thoughts about money, as you plan a future together, consider how money can work for both of you and make your relationship stronger.

How do you approach asking your partner questions about money?

As you think about questions to ask your partner, carefully consider how you’ll bring up the subject of finances in your relationship. Try to pick a time when both of you are unhurried and in a good mood.

In addition, you can bring up money while you have a date night at your favorite place. Or try these at-home date night ideas!

Sometimes being in a relaxed atmosphere and not feeling pressured to have all the answers can be a great way to have meaningful conversations.

Remember, being kind and open-minded is important, even if your partner thinks differently than you do about money. Using words of affirmation to let the other person know you care, even if you have a different view, may go a long way toward resolving differences.

At what point in a relationship is it appropriate to discuss finances?

Rather than asking these questions on the first date or in a new relationship, you should wait until you know for sure that you are both committed. Since money tends to be a sensitive topic, you don’t want to bring this up with someone you aren’t serious about. 

An appropriate time to bring up money is if you have been dating for a long period of time or are considering marriage, engagement, or moving in together. Wait until a later time if you’re just casually dating.

How can you make the topic of finance more fun with your partner?

Think of it this way: asking your significant other money questions is an opportunity for quality time, as well as a way to ask deep questions that reveal more about the other person.

To make finances less intimidating, you can also ask fun questions about other topics.

Discuss unrelated but interesting subjects like favorite books or a summer reading list, favorite movies, a favorite family tradition, a hidden talent you each have, or your dream vacation. Ask about a more casual topic like this if you find that the conversation about money is too much.

Also, allow the conversation to flow naturally rather than asking one question after another. And be willing to share your own thoughts and money practices, as well.

Related posts about money questions for couples

If you enjoyed this article, check out this related content:

• 10 Questions To Ask Before Moving In Together
• 20 Couples Challenges To Improve Your Finances And Relationship
• Budgeting For Couples: How To Budget As A Couple
• 23 Best Side Hustles For Couples

Communicate effectively with these important questions for couples about money!

These questions to ask your partner are intended to provide insight into their views of money. It’s important to know how they think and feel so that you can determine if it aligns with your own beliefs. Knowing the answers can also bring more security to a relationship.

Just because you don’t agree with everything that your partner reveals doesn’t mean that your relationship won’t work. It simply means that you’ll have to find common ground so that money issues don’t divide your relationship.

You may find that you’re financially incompatible if either of you is unwilling to compromise on money habits. Either way, knowing allows you to make an informed decision about how you’ll proceed in your relationship. Learn how to build a solid financial future together with our completely free financial roadmap. 

The post 20 Money Questions To Ask Your Partner In A Relationship appeared first on Clever Girl Finance.

Are you looking for the cheapest way to move out of state? The reality is that moving long-distance can be quite expensive, more so than local moves. From packing supplies to transportation, the cost to move can really add up.

Not to worry, this article will help you maximize your budget as you prepare to move!

Depending on how far you need to move and how much stuff you have, it could cost over $14,000. If you don’t have that money saved, that can be a huge expense.

The great news is that there are some frugal tips that you can incorporate to save on moving expenses. Before getting into those tips, you’ll need to understand the expenses that you may incur.

Moving expenses to consider before finding the least expensive way to move out of state

There are a lot of expenses that go into an out-of-state move. Once you’re aware of what they are, you’ll realize that there are much cheaper ways to move out of state instead.

Movers

A significant cost for moving is actually hiring movers, and you’re probably thinking, “What are the options to move my stuff to another state? Can I hire out of state movers near me?”

There are professional moving companies that pack your items for you and transport them to your new home, then help with unloading and unpacking services (with full-service moves). Others will simply transport your belongings that you’ve already packed, depending on the type of customer service they offer.

Either way, there are cheaper ways to move out of state than hiring movers or using a company that offers full-service packing and unpacking for your items.

Be sure you do your research and read the reviews on the moving company you select. Don’t forget to ask for a moving quote or estimate. And be sure you’re using the best moving company, one that has nationwide availability rather than local movers.

Transportation

Although your items may be squared away with professional movers, you’ll still need a way to get to your new location. The least expensive way to move out of state, as far as you getting there, may be driving.

If you don’t plan to drive, you’ll need to consider the cost to transport your vehicle and yourself. That means that you may have to buy a plane ticket to fly.

Supplies

Before you can even move, you’ll need supplies to pack up your belongings. Doing this will require you to purchase packing materials like boxes, tape, and even shrink wrap.

Fragile items like your television may also require special crating so as not to break any household goods in transit. Supplies can quickly get costly, especially if you have a lot of things to load and move.

Deposits

There’s much more to moving out of state than boxes. If you’re moving into an apartment, it will likely require a deposit. Additionally, depending on your credit score, you may also have to pay a deposit for your utilities as well.

Cleaning & repairs

If you’re selling your house or leaving an apartment, you’ll need to clean the place up before you leave. In some cases, this means more than a mop and bucket. Consider the cost of renting a professional carpet cleaner and perhaps even a few buckets of paint.

Remember you may have to do some deep cleaning and minor repairs at your new place too. Which will be another cost to consider upon arrival.

Storage

Are you wondering, “How do I move my stuff to another state when I don’t have much time?” Everything may not make the initial move, or you may have a time frame that means you’ll need to store items short-term. You’ll want to consider these scenarios and the cost of storage units or facilities if you need this.

Also, remember if you’re moving to a smaller space, such as moving from a house to a one-bedroom apartment, you may not have room for all of the things you used to store in your home. Storage facilities will also come in handy then.

Registrations & licenses

A new state means new registrations and licenses for your vehicle. Don’t forget that you’ll need to put money (and time) aside to get all of these updated.

6 Ways to move out of state cheaply

The least expensive way to move out of state is to move your belongings yourself. Instead of hiring professional movers, you can do the work yourself to save on costs.

This means that you’ll be responsible for packing up your belongings and transporting them to your new location.

The great news is that you have some cheaper ways to transport your belongings when you move. Here are some tips:

1. Rent a moving truck

To transport your belongings for long-distance moves, you can rent a moving truck e.g. a U-haul. Depending on the size that you need, the cost of a rental truck can vary.

It’s significantly less than hiring a company, which can help when you’re looking for the cheapest way to move to another state. However, it also does not include gas and any other travel-related expenses that you might require—like food and any hotel stays.

A moving truck is a good option if you have a lot of furniture and other items to move. It also makes sense if you have the manpower (hello, friends and family!) to move all of your belongings into and off the truck.

In this scenario, you can hitch your vehicle to the back of the truck so that you don’t have to pay a separate expense to have it moved.

You can check out moving truck companies that offer online quoting to get started.

2. Rent a cargo trailer

For smaller moves, you can always rent a cargo trailer that can be hitched to the back of your vehicle. Of course, this means that you will need a vehicle that can hitch a trailer.

The same considerations that you use for a rental truck will apply to the trailer. Meaning that you’ll need to plan for travel expenses as well.

3. “Hire” friends and family

Recruiting your friends and family to help you DIY move is probably the cheapest way to move out of state. Instead of paying them the rate you would professional full-service movers, you can cover their travel costs and food instead. They can help you pack and even travel with you to unload.

Having your friends and family help could also mean that you have enough vehicles to not have to rent a moving truck. Perhaps someone you know owns a pickup truck with a bed to put your belongings in.

Getting your loved ones involved can make for a fun and really inexpensive move, and you won’t need to bother with long-distance movers.

4. Get your packing supplies for free

Did you know that you can get boxes to help you move for free? Retail stores constantly go through boxes that they may be willing to let you have for free. For instance, when I moved I was able to get boxes from a local wine store.

Finding the least expensive way to move to another state involves lowering packing costs. Visit some local stores in your area to ask for boxes that they’ll likely break down and recycle anyway. These boxes will be great for the odds and ends that you’ll need to pack up.

5. Ship your items in a moving container

When wondering, “how do I move my stuff to another state”, you may not have thought of this option. If you don’t need your items right away, you can always leverage shipping containers to store and move your stuff. In this case, you’ll have a container delivered to your home for you to pack up.

When you’re done, the container will be shipped to your new location for you to unload. The cost for this option will vary depending on the number of containers you need to rent and the distance that you’re moving. However, it can be cheaper than hiring professionals and way less of a hassle for you.

6. Sell your stuff

If moving your stuff seems like it’ll be too expensive, consider selling your stuff. The least costly way to move to another state is to actually make money instead of spending it, right?

Even if you don’t sell all of it, reducing what you have to pack or ship can help you save space and cost. It will certainly make unpacking easier!

Especially if you have any large items like a piano that you’d rather not move, this could be the solution. The money that you make from selling your items can be put toward renting a moving truck or to fund those deposits and other moving-related expenses.

You can sell items on platforms like Facebook Marketplace, Facebook groups, and on Craigslist.

Expert tip

As you start thinking about moving out of state, be sure to lay out an actual moving plan that includes your moving cost calculations.

Creating your plan will ensure you know how much you are spending and will help you track your timelines and associated costs accordingly.

Moving without a plan can lead to additional costs if you book things last minute or forget to plan for certain things e.g. gas for the moving truck, extra moving boxes or bubble wrap etc. So keep this in mind!

Other ideas for the cheapest way to move out of state

Coordinating an out of state move can become overwhelming. Here are some tips to help make the transition easier as you look for the cheapest way to move to another state.

Weigh the costs

Now that you know how much it can cost to move, you should weigh the cost to determine if you can afford to move. Before moving cross-country, weigh the costs by listing out all of the expenses and creating a budget. You can also use a moving cost calculator.

You’ll need to include the cost of a moving service and packing services if needed, any short or long-term storage, and additional services you may need.

You should also consider compensation for the moving truck company, any hidden fees for moving services, and also everyday expenses for the first month. These could be things like groceries, insurance coverage, and anything else you need to pay for while you are transitioning to a new job.

And remember that where you are moving to can have an effect on your budget. The cost of living may be higher than what you’re used to.

Also consider distance, for example, it is likely a lot cheaper to move from New York to Virginia or Rhode Island than to move from Florida to Washington State.

Create a moving checklist to help you save money

One of the first things that you should do before moving is to create a moving list. Having a moving out of state checklist will help you stay organized with the many tasks that moving requires.

Here’s a quick list of what to do, but you can use our moving out of state checklist for more explanation.

1. Save your money

Even if you’re looking for the least expensive way to move out of state, you’ll still need some money for a move. Start saving now and create a sinking fund to help you get some money together over the next few months. Moving will be much easier with some cash.

2. Decide on a neighborhood

Before you move, figure out what neighborhood you want to live in, and be sure to look around at housing options. Buy or rent your new place before you leave the old one and consider prices to be sure the new place fits your budget.

3. Take care of all paperwork in advance

You’ll need to do some paperwork when you move, including updating your address, getting a new I.D., and more. Try to do all of this before the move or in the first month to make life easier and plan for any expenses.

4. Decide what you need to buy when you get there

Will your new place come with appliances, or are you bringing your old ones? Make a list and save up for what you need to buy, especially anything expensive like furniture.

5. Clean your old and new house

Before you move, clean. After you move into your new place, clean.

It’s pretty simple, but it’s good manners to leave your old house in good shape, and cleaning your new house will give you peace of mind. Remember to plan for cleaning costs.

6. Grocery shop

When you first move in somewhere, it’s easy to justify a lot of eating out expenses, because appliances may not be there yet or you’re too busy to cook.

Even if this is the case, the cheapest way to move out of state would be to cut costs by stopping by the grocery store. Picking up a cooked chicken and some sides is still likely to be cheaper than going to a restaurant, and you can save some serious cash over your moving week.

7. Visit beforehand

If you’re able to, visit the state that you’re moving to beforehand, especially if you’re doing a cross country move. It will allow you to explore the area, experience the climate, and find medical facilities, a local bank, and schools. Visiting can also help you find out more about prices in the area.

8. Avoid holidays or peak moving seasons

Relocation alone can be stressful, especially an interstate move. Don’t make it worse by moving during peak seasons.

If you can, try to avoid moving during holidays or peak moving seasons, like summer. During these times, you can expect to pay premium prices for travel expenses—like gas and hotel stays.

Where can I find out of state movers near me?

So after figuring out how to stay on budget, you may ask, “how do I move my stuff to another state and hire long-distance moving services?” Out of state moving services should be easy to find.

Start with Google and type “out of state movers near me”, and also check out Yelp for reviews of companies.

When you’re asking “how do I find out of state movers near me?” here are a few good options to help you with your search:

• International Van Lines: They offer excellent moving services and have a reputation for being the best company to work with. They’ll even ship your car!
• Interstate Moving and Relocation Group: A moving broker that can help you find the right company for you that is affordable.
• American Van Lines: Fast movers that will get your items to your destination quickly and they offer specialty moving services as well.

How can I move cheaply?

When it comes to moving cheaply it’s all about minimizing how much you spend. So ask your friends and family for help with packing and moving.

Need free moving boxes? Visit your local big-box retailers like Costco, BJs, Walmart, or Target and ask for cardboard boxes that they would typically throw away

Does a family member or friend own a van or pickup truck? Ask for their help with moving as a favor and offer to buy them gas if they drive you. Moving cheaply will require you to get creative!

Is $5,000 enough to move out?

$5,000 may be enough to move out depending on the cost of living where you plan to move to and if you create a plan to live frugally. You’ll need to ensure your moving calculations include packing supplies, moving transportation, as well as any application fees and deposits for your new place.

It’s also important that you factor in 3 to 6 months of emergency savings. If you are not in a hurry, you can focus on saving extra money, so you can move out confidently.

Articles related to moving

If you enjoyed this article on the cheapest way to move out of state, you’ll like these ones too:

• Curb Expenses With A Moving Out Of State Checklist
• Can I Afford To Move Out On My Own?
• How To Split Rent Fairly With Roommates
• 7 Best Tips For The Cheapest Way To Live

Find the cheapest way to move out of state!

Moving out of state doesn’t have to be expensive. Make sure to get a quote for any storage services and Google long-distance moving company options to see what prices are available. And be on the lookout for deals to find the cheapest way to move to another state.

The great thing is that there are cheaper options for many of the expenses that you can expect to incur from moving. Try some of these cheap ways to move out of state to lower your moving expenses.

Looking for ways to save money and also be frugal is a great practice. And there are many ways you can cut costs in the months leading up to your move to increase savings. To find out more about finances, see our free courses.

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Finding the right resources to help you launch and grow your blog can be overwhelming. So before you spend thousands of dollars on blogging courses or even hiring a coach, I suggest reading books about blogging first.

Millions of people leverage blogs and other sites to find information each day. According to Wordpress.com—a leader in blog website hosting—over 20 billion website pages are viewed by 409 million people each month. With so many people searching for information, there’s a tremendous opportunity to start a successful blog. Blogging is also a great way to make some extra money.

The good news is that starting a blog is easier now more than ever. With a few clicks, you can have a site up and running. Although it may be easy to start a blog, growing and maintaining it can have its challenges. That’s why resources like books about blogging are essential. Check out these blogging books to help you start, grow, and monetize your blog.

Blogging books for beginners

Having a successful blog starts with a great foundation. These books will help you get started with your blog-- from setting it up to launching!

Blog, Inc.: Blogging for Passion, Profit, and to Create Community by Joy Deangdeelert Cho

As one of the most popular books for new bloggers, Blog, Inc.: Blogging for Passion, Profit and to Create Community, teaches readers how to start, grow, monetize and build their blog. From choosing the right platform to host your blog to learning how to become a full-time blogger, Joy shares her expert tips as the owner of the award-winning blog and lifestyle brand, Oh Joy! This book is unique in that it shares tips for financing your blog—a topic that’s often overlooked in many blogging resources. She even provides insight on maintaining work/life balance, another important aside.

Blogging All-in-One For Dummies by Susan Gunelius

Looking for an all-inclusive book about blogging? Then grab Blogging All-in-One for Dummies. With over 700 pages, this book covers almost every blogging topic imaginable—from choosing your blogging platform to microblogging on Twitter. This book can be leveraged as a go-to resource to reference as you start and expand your blog.

Writing books for bloggers

The crux of blogging is ultimately writing, so honing these skills will only help make your blog more successful and enjoyable for readers. These books will teach you how to discover and outline content ideas and write like the pros!

Everybody Writes: Your Go-To Guide to Creating Ridiculously Good Content by Ann Handly

In this Wall Street Journal bestseller, Everybody Writes: Your Go-To Guide to Creating Ridiculously Good Content, Ann Handly immediately dispels the myth that you have to have a journalism or writing degree to be a writer. Instead, she believes that everyone should be concerned about their writing skills. Whether it's for your blog post or social media caption, Ann provides a copywriting strategy for it. This book is jammed packed with information on how to become a better writer, marketer, and content creator.

The One Hour Content Plan by Meera Kothand

Constantly producing content for your blog can be time-consuming. Meera Kothand provides the antidote in her book, The One Hour Content Plan. The book claims to show you how to produce a year’s worth of blog post ideas in 60 minutes and is a worthwhile read. Meera walks you through content ideation that’s relevant to your blog’s overall purpose. This is followed by different types of posts that you can use for those ideas. The book concludes with lessons on how to promote your content and tips for managing your content, or editorial, workflow.

Social media books for bloggers

Blogging is more than just typing up a post and hitting “publish.” Social media plays a huge role in getting your content out to more people and building a relationship with your audience. Here are a few books that can help you make the most out of social media to promote your blog and building a following.

One Million Followers: How I Built a Massive Social Following in 30 Days by Brendan Kane

If you’re wondering how to get more social media followers, Brendan Kane has the answer in his book, One Million Followers. With a following of 1 million people on Instagram alone, he shares his strategies for using social media to share your message to the masses. This book walks you through how to target your audience, create a compelling message, and how to strategically use social media platforms for greater reach. Brendan shares the strategies that he’s used to quickly grow the social media reach and influence of Fortune 500 corporations and celebrities.

Influencer: Building Your Personal Brand in the Age of Social Media by Brittany Hennessy

Arguably the only book of its kind, the book, Influencer, goes behind the scenes of the new and booming influencer marketing industry. Brittany shares all of the insights from her career in digital media as the director of talent partnerships. This book breaks down how you can monetize your influence as a content creator. Within the book, Brittany breaks down strategies for working with corporations and even goes into how to price your services. If you’re thinking about expanding your brand beyond your blog, this book is a must-read.

Business books for bloggers

The moment that you make a single cent from your blog, you’ve created a business—or at least a side business. If you want to run your blog like a business, these books will equip you with the tools that you need.

Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz

Business is more than about making money. You have to know how to manage your money as well. The book, Profit First, teaches you how to manage your business finances effectively. Mike Michalowicz shares the major financial lessons that he learned from growing and selling multiple million-dollar businesses. His unique approach to cash management in your business ensures that you will always be profitable.

Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by James Clear

Your life is the sum total of your decisions and habits. The same is true in business. If you want a better business, you must have better habits. In his #1 New York Times bestselling book, Atomic Habits, James Clear shares strategies for forming good habits by making small, easy changes each day. You’ll get the tools needed to improve each day and, ultimately, reach your goals.

Virtual Freedom: How to Work with Virtual Staff to Buy More Time, Become More Productive, and Build Your Dream Business Chris Ducker

Eventually, you may come to a point where you’ll need help with managing your online business. One way to do that is by hiring a virtual assistant and other virtual staff. The Virtual Freedom book is the ultimate guide for hiring virtual staff so that you can find freedom in your business. The book provides resources and a how-to guide for working with virtual employees.

Final thoughts on blogging books

It’s important to remember that blogging is a long term business idea. These are a few books about blogging that can help you get started. They are great resources that you can revisit as you continue to grow your site. With focus, intention, and clear goals, you too can build an incredibly successful blogging business!

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