saving money

How to Prepare for a Recession

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A person preparing for recession

It was sobering news this summer when Bank of America economists put out projections of a “mild” recession to take place this year. That projection has since been pushed back slightly, but the fact remains that economists believe a recession is very likely in the near future. 

What does that mean to regular people, as opposed to economists? Well, record inflation rates coupled with high personal debt loads and a waffling jobs market have put many people on edge. So far, unemployment has remained low, and job openings have remained high, but some sectors (such as tech) have had increasing layoffs of late. 

Also: the Federal Reserve has aggressively raised interest rates in its last few meetings, and more increases are expected in order to try to put the brakes on continued inflation. Unfortunately, sometimes those moves by the Central Bank can push a teetering economy into a recession zone.

Prepare Now in Case a Recession Happens

When a recession is potentially looming, it is prudent to make sure your finances are fully prepared to deal with any economic conditions that may come along. Here are some steps to take to secure your financial situation, no matter what the economic weather may bring.

1) Save as Much as You Can

The primary concern in preparing for a recession is that the economy is contracting: companies hire fewer people, wages stagnate, and the possibility of losing your job can increase. That is why your number-one move right now is to set aside as much money as you can in savings or in an emergency fund. If you can, save at least a few months’ worth of income in your bank account. That way you can keep yourself afloat in the event of a job loss during the recession. 

2) Take Down Risky Investments

Right now is the time to reduce your exposure to risky or speculative investments. There may be a time and place for these investments in certain economic climates, but you want to be as far away from them as you can get when things start to get dicey. This is why it is highly recommended that you consider what you have your money in right now and perhaps cash out those positions that are overly speculative. 

3) Look for a Stable Career or a Side Hustle

If you already work in an industry that is stable, then great; count yourself among the lucky ones. But as the economy destabilizes, jobs that aren’t very secure — hospitality, retail, restaurants, entertainment, and manufacturing are among the sectors that feel the punch first — are the first place where contractions take place. 

It’s not always possible to rethink an entire career, but now might be the perfect time to spread yourself a little thin and start your own side hustle. Pursue any small-business idea you have, or create an always-in-need service business, whether housecleaning, babysitting, driving, delivery, or security. 

4) Reduce or Eliminate Debt Pre-Recession

It is a major problem to try to deal with debt when a recession hits. We may feel comfortable carrying a certain amount of credit card debt when we are safely employed and the economy is simmering. But debt quickly becomes a noose that tightens around your neck when interest rates are climbing, inflation is driving prices up, and your job security wavers.

Now is the time to consider a debt consolidation loan or paying off all your debt in another way. You can always try the “snowball method” of paying the smallest debts first or the “avalanche method” of paying the highest-interest debts first. But if you already feel squeezed, those methods might not work for you. Look into whether you qualify for a debt consolidation loan, which can usually offer you a lower interest rate than what you are paying now — and you can wipe out your debt in one fell swoop with the loan. 

5) Speak with a Financial Advisor

Sometimes the best thing to do is to speak with an expert. If you have a financial advisor that you trust, then you should consider speaking with that person about your current state of affairs. He or she can provide guidance about which steps are most prudent for you to take at a time like this. 

If you’re struggling with credit card debt, take action now, and speak with an advisor at Brice Capital. Ask if they can help you get rid of your high-interest credit card debt before you find yourselves in the middle of a recession.

6 Free and Fun Summer Activities

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6 Free and Fun Summer Activities

Summer is all about fun and games when you do it right. Sunny days are reserved for making memories with kids. The fun doesn’t have to affect your budget or cost a lot of money. There are tons of free and fun summer activities for the whole family. Read on to find out more about all the free summer activities you can do and have a sustainable lifestyle this 2021.

1. Picnic

Picnic is one of the best summer activities for people who are looking for free fun. All you need is a blanket, sandwiches, or other easy meals you can make in the kitchen, and you’re good to go. The nearest park is a convenient picnic destination, but you can also go to any other place as well. To make things more fun you can also bring a ball, or maybe a badminton racket and shuttlecock. Options are endless. Take something that your entire family can play with and have a great time.

2. Bike ride

Here’s yet another fun, basic, and free activity for the entire family. You don’t need gas or pay for a ticket or anything else. Just make sure you and your kids wear a helmet and bring a bottle of water. Get the most from this activity by riding your bike through nature.

3. Painting

Painting helps us explore our creative sides. It can also be one of the best free summer activities for your family. To make it more fun, take painting supplies outdoors. Backyard, park, or any beautiful location nearby, options are endless. Paint and create memories.

4. Build an obstacle course

Not only is obstacle course fun, but it also improves fitness levels and coordination. You can build the obstacle course indoor or outdoor. Use chairs, tables, boards, or other tools that can help you build an obstacle course. You just need a plan and find the tools to bring that plan to life.

5. Water fun

When you’re planning free summer activities for the whole family, you shouldn’t overlook water fun. Kids and adults alike need it. Run through sprinklers, have a water balloon fight, or you can use water bottles, spray bottles, and water guns to have fun.

6. Fishing or camping

Summertime calls for outdoor adventures. Is there a better way to have fun for free than spending time outside? Not really! Use the advantage of nice weather and go fishing or camping with your kids. That way, kids will learn a lot about the world around them and have a great time. Not only are these activities free, but also socially distanced.

Other free and fun activities

  • Make homemade ice cream or popsicle
  • Family movie night
  • BBQ
  • Make a lemonade stand
  • Stargazing
  • Hang out at parks or playgrounds
  • Scavenger hunt
  • Hiking
  • Make a birdfeeder

Conclusion

Summer activities serve for making memories. You don’t have to spend money to have fun. Try out some activities that won’t break your budget, and your whole family will have a lot of fun.

How to Sell Stuff Online Fast

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A person taking a picture of clothes to sell online

Whether you’re trying to get out of debt or boost your investment income for retirement, one of the best ways to achieve these goals is to resell items you no longer need.  Thanks to the Internet, it’s even easier to sell things online.  You’ll need to research which platforms would be the best and that would give you the most decent profits.  Make sure your items are in good or excellent condition, and you should research the average prices of what you’re selling so that you’re not overcharging but still charging enough to earn a profit.  Here are some cool ways to sell items online fast and achieve your financial goals.

eBay

This is one of the best ways to sell things online, and here are a few tips on getting sales quicker on this platform.  Start by including as many details as possible on the items you’re selling.  By doing this, the buyer won’t have as many questions, which speeds up the ability to earn profits faster.  Use the Best Offer feature on your listings since this helps buyers who want to negotiate.  Offer multiple payment options and avoid auction-style listings. Take high-quality pictures of your items.

Consider Which Items Sell the Best

Don’t waste time online selling items that people will not want.  It is better to research which items are the most popular among certain demographics and budget levels.  This helps you sell items faster online.  Brand-name clothing is always popular with online shoppers, and if you have outfits from the most popular designers, you’re likely to sell faster.  Other items that do well for online sellers include video games, electronic gadgets, kids’ clothing, furniture, toys, and sports equipment.

Use the Decluttr App

If you have a lot of gadgets that are in good condition, sell them through the Decluttr app.  All you have to do is look up the devices you want to sell then enter the barcodes in the app.  Then the app lets you know the overall value of your items and how much they’ll offer for your items.  After you accept the offer, they’ll send you a shipping label and you can pack up your items for shipping to them.

Try Facebook Marketplace

This is a neat way to sell items fast online.  Start by taking pictures of a certain type of item and then post the pictures and information to Facebook groups that sell specific types of items such as used books or used kids’ clothing.  It would be quicker to sell if you can do it locally and have the person meet you in a public place to pick up the items.  However, you have the option of shipping your items for a 5% selling fee.  

Customer Service Should Be on Point

Be sure to answer potential customers’ questions promptly as this helps you sell items faster.  Be concise with the information in your listings and the pictures should be clear enough for everyone to see.  Make sure the items are priced fairly and exhibit a professional attitude at all times. Offer products that promote sustainable lifestyle.

These strategies will be helpful in selling your items faster online.

5 Awesome Reasons to Buy Used Children’s Clothing

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A toddler walking in a second-hand children's clothing store

Growing children constantly need new clothes. Every growth spurt turns pants into waders and shirts into Incredible Hulk candidates. Kids get taller, fill out, and become more developed as they grow which means new clothes every year. Except that the clothes don’t actually need to be new. As long as your child feels confident and stylish, you can absolutely source kids’ clothes from second-hand children’s clothing stores at a discount in price and an increase in eco-responsibility.

Believe it or not, kids actually love second-hand clothes. You can become a smart-budgeting and eco-friendly parent with a little savvy second-hand shopping.

 1) Children Grow Faster than Clothes can Wear Out

Some kids grow like weeds. Every few months they need a new length of pants or a new cut of the shirt. They grow in size and in stylish taste, so parents are constantly having to replenish childhood closets. You’re not the only parent who doesn’t want to toss perfectly good outgrown clothes. Join the global hand-me-down community by shopping secondhand kid’s clothes and be sure to upcycle when your kids grow out of what they’re wearing now.

2) Second-Hand Children’s Clothes are Less Expensive

If you’re shopping for your children on a budget (aren’t we all?) then used clothing can almost always be found at a lower cost than new garments. Kids go through clothing fast and often kids’ clothing is built to survive more than a few play sessions. You can find some great deals and a cool collection for your child’s closet this year without blowing your budget by shopping for second-hand children’s clothing.

3) Used Clothes are Softer on Sensitive Skin

If you have a picky dresser or a child with sensitive skin, you know how valuable pre-softened clothes can be. New clothes are starched and treated to look good on the shelf. Their fibers are stiff and new, and the tags still have sharp corners. Used clothes, however, have been washed a few times. This means they’re free of retail chemicals and those fibers and tags have softened up for comfy relief on a child’s sensitive skin.

4) Find Hidden Gems Outside Fashion Trends

Parents and kids often don’t care for today’s clothing fashions, and you’re not limited. Shopping for secondhand clothes opens a world of retro fashion and hidden gems for you and your child to explore.

5) The Perfect Source of Costume Supplies

Last but certainly not least, second-hand children’s clothing is perfect for costume supplies. Whether you’re planning for a Halloween or building a child’s dress-up collection, used clothes offer a low-cost and fun way to find all sorts of interesting pieces from novelty shoes to formalwear.

If your children are growing fast and you want to make smart parenting decisions, try using children’s clothing. It’s eco-friendly, soft, and extremely cost-effective for the whole family. You might even find a few hidden gems for yourself in the racks. For more great green living ideas or an apartment with green living priorities, contact us today!

6 Incredible Free Apps for a Good Night’s Sleep

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A woman who uses sleep apps

These days, it’s easy to get stressed out, and it can be difficult to get a good night’s sleep as a result. You may be tempted to pay for sleep apps that will help you wind down, but you don’t have to: You can get some excellent ones for free.

1. HEADSPACE 

This app is absolutely incredible. It offers “sleep casts” that help you visualize a relaxing experience as you’re about to doze off. You’ll have plenty of resources if you simply use the free version, but you could pay $95 per year to have access to over forty themed meditation courses.

2. CALM

Calm is an excellent app with wonderful sleep stories. You can choose the free version, which provides you with plenty of guided meditations, or you can purchase the premium version for $70 per year and have access to more meditations and sleep stories. Honestly, the free version is just as good, although there is a bit less variety.

3. PZIZZ

The free version of this app allows you to set a timer for yourself before you go to bed. It will play beautiful “dreamscapes” for you as you’re dozing off.  You can choose from a wide variety of soothing sounds to listen to as you’re sleeping if you pay $60 per year.

4. SLUMBER

This is an excellent app because it provides you with plenty of bedtime stories, and sleep meditations, and, if you’re in the mood, it even gives you the option to listen to the sound of a Jacuzzi as you rest your head on your pillow and escape into dreamland. The caveat is that you can only listen to around ten episodes. This is more than enough for a good night’s rest, but you can hear more if you pay $40 per year.

5. THE SLEEP CYCLE

Thankfully, this app is completely free. You can use it to track your sleep patterns and get tips for improving the quality of your rest.

6. SLEEPIEST

This is a great app for parents. It offers plenty of soothing bedtime stories for your little ones. If you’re having some trouble winding down yourself, it also provides guided meditations and relaxing white noise to help you drift off to sleep. There is a free version available, which offers more than enough. However, you can purchase the premium version for $100 per year.

Sometimes, it can be tempting to dish out your hard-earned cash on sleep apps, but the truth is, you don’t have to. You can simply use the free versions, go to bed at the same time every night, and maybe even take a bath, pour yourself a bit of lavender tea, or do some relaxing yoga poses if you’re having trouble winding down.

It can be extremely difficult to get the rest you need but doing everything you can to ensure a good night’s sleep can improve so many areas of your life. Sleeping for a minimum of seven hours per night has so many benefits. These include boosting your immune system and improving your productivity.

5 Ways to Make Money on the Side after Lockdown

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The emergence of the COVID-19 pandemic has shattered the lives of many. With it, people lost their jobs and sources of livelihood. Confined to their homes, one can’t help but feel trapped, helpless, and anxious. As the bills keep piling, we are constantly faced with the threat of coping with the over-cumbering stress of dealing with it all.

However, despite the way things are, you can still earn a decent amount of money from your home. In today’s article, we give you five essential ways to acquire money after the lockdown.

1. Online Tutoring and Coaching

There are many vacancies in the educational sector due to the lockdown of schools and educational institutions worldwide. High demand for capable individuals is required to fill in the roles of teachers and lecturers.

Furthermore, many parents will seek the help of trained professionals to tutor their children after the lockdown. Online tutoring is a lucrative opportunity, and one of the many ways to make money from your hobby at home.

All you require is a stable Wi-Fi connection and a webcam to host video sessions on zoom. Online platforms and freelance sites are great ways of getting into the job market and making decent money.

2. Proofreading

Do you enjoy spending time reading novels? If your grammar is impeccable or merely functional, consider pursuing a career in proofreading. Many publishers are willing to pay top dollar on edits simply because they don’t have the time to run through corrections. On average, you can earn up to $15 per hour and more, depending on your employment.

A good internet connection and a word processor/editor are all you need to get started in the comfort of your home.

3. Blogging

With the rise of Instagram, celebrities, influencers, and YouTubers, making a living on the internet is quite a popular trend. Even with entry-level skills, you too can start earning money from your website.

Blogging entails running your domain and writing exciting content to drive traffic and convert them into followers. Advertisement systems such as Google AdSense pay bloggers a decent amount of following daily passive income. Blogs ranging from 5,000 to 30,000 views a day can easily make up to $20 – $120, or more.

You can increase your income using affiliate links from programs such as Amazon affiliates, and earn commissions by advertising their products on your site. This passive income field is quite sustaining; the overall estimates of affiliate market revenue are bound to shoot up to $8.2 billion in the coming two years. 

4. Rent Your Car

With all that’s happening right now, driving is the last thing on your mind. Instead, you can consider leasing out your car to workers and healthcare practitioners who require a vehicle. You can easily post your vehicle online and have people reach out to you from the comfort of your home.

If that’s not enough, you can decide to lend your vehicle as an Uber and get paid daily. For this, you will need to have the required paperwork, such as PSV insurance, license, car check-up diagnostics, and road testing certifications.

5. Playing Video Games

For some, the years of playing World of Warcraft are finally beginning to pay off. The emergence of lockdown protocols has brought about a superb opportunity to lounge around and pass the time gaming.

Nowadays, video games have turned into a multi-billion franchise with the development of E-sports and grand tournaments. Games like Fortnite, PUBG, Overwatch, and Call of Duty warzone, to name a few are topping the charts in popular online games. To get started, all you would need is a

  • Fast internet connection with low ping
  • Screen recording software
  • A microphone
  • Headphones
  • Console or gaming pc.

Set up a Twitch and YouTube account and frequently post your gaming content. As you progress in numbers, more and more followers begin to subscribe to your channel and will even donate money. YouTube analytics is an excellent way to keep track of your traffic. Similar to blogs, the more views you get, the more you can earn passively.

In Summary

While the coronavirus has placed an enormous standstill in everyone’s lives, you can still support yourself and earn money. Our five tips will equip you with the knowledge to help you to make money on the side after lockdown.

Help the Planet and Your Pockets! Eco-Friendly and Creative Ways to Save Money

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A home garden is an eco-friendly way to save money

Eco-Friendly Ways to Save Money

If we asked you what are some of the major issues of our society nowadays, what would you say?

We’re almost 100% certain you’d mention the economy and the environment, and you’d be right to say so. These are two well-known issues that affect most of us, but what some of us might not know is how to start fighting them. Thankfully, we have some answers for you!

Many people think that switching to organic living would be expensive. If you try to make optimal or smart use of the available resources, you may not only be able to conserve them for a longer time but also save money in the process. 

Keep reading and learn six creative and eco-friendly ways to save money.

1. Eat Fewer Animal Products

Many people believe that being a vegetarian or a vegan is way too expensive and, for that reason, they continue to buy animal products on a regular basis.

Our challenge for you is that the next time you go grocery shopping, you compare the prices of vegetables and fruits with the price of meat. Quite different, aren’t they?

You don’t need to go fully vegan but eating less meat will help save the planet and your money.

2. Take Shorter Showers

Yes, we know how relaxing it feels to take a long, hot shower. But do you really need it? Even cutting your shower time by two or three minutes every day makes a difference – in the end, it all adds up!

And since we’re on the topic of showering, think about this: do you ever use the hot water tap without also using the cold one? If not, turning down your water heater is also a good idea. 

3. Grow Your Food

One of the best eco-friendly ways to save money is by growing your own food. However, your ability to follow this tip depends on how much space you have available at your place. If you have a small backyard, why not start planting vegetables that grow well in the weather conditions you live in?

If you live in a small apartment, don’t worry, you can still grow something you probably use on a daily basis: herbs! 

Not just vegetables, there are many other things that you can make at home to save money rather than go out and purchase. Who knows growing your food or making your own beer to save some dough could turn into a fun hobby for you and your family. 

4. Shop at Second Hand-Stores

Fast fashion is one of the biggest producers of waste there is, with 85% of textiles ending up in landfills every year. Furthermore, this industry uses colossal amounts of water (it takes 2700 liters of water to produce one single cotton shirt) and emits 5% of global CO2 emissions.

The good news?

There’s a rising number of clothing stores where you can buy second-hand pieces that are both unique and affordable! 

5. Start Using Your Bike Again

The effects of global warming have become increasingly evident all over the world over the past years and one of the biggest contributors to this major issue is car pollution.

Considering the amount of gas that our cars emit, this isn’t hard to understand.

Yet how many times have you used your car when you could have perfectly ridden or even walked there?

Using your bike (or your feet) will help you reduce your eco-footprint, save money on gas and stay active. What else could you ask for?

6. Buy a Reusable Water Bottle

Single-use plastic is completely 2000 and late and we all know that by now.

So if you still buy plastic bottles, it’s time to change that! By purchasing a reusable bottle, you’ll help reduce the demand for single-use plastic and you’ll be saving money by drinking tap water instead of the often overly-priced bottled water.

Do You Know More Eco-Friendly Ways to Save Money and the Planet?

The tips we mentioned above are some of the most popular ways of helping the environment while also saving some bucks. But the truth is that there are plenty more eco-friendly ways to save money and the Earth!

Do you know of any? If so, let us know in the comments below.

And while you’re here, why not join our group and learn more about living a sustainable life?