Save Money on Golf
Some things in life are quite expensive. Here are some ways to save money on golf
This article was submitted by the Golf Ball Driver, author of rss feed). He strongly believes in discount golf balls. If you like the guest post please check out his website and consider subscribing to his rss feed.
Golf is a passion for many, but it can also be a very expensive hobby. If you are looking for ways to indulge your love of this sport and still have money left over, there are some great ways that you can cut costs.
- Do your shopping at a online discount golf pro shop. While on-course pro shops usually have a pretty good selection and they are very convenient, there is definitely a price for that convenience. You can save a lot of money on golf clubs
- Look for specials on a course’s website. This is one of the easiest ways to save money on greens fees, but many players overlook it. Before you book your next tee time at your favorite course, take a look at their website and see if they are offering any specials. Most courses will offer monthly specials, but they may not let you know right off the bat. By taking the time to take a quick look at their website, you may be able to get a sizable discount on your next green fee.
- Purchase used golf balls. This is another easy way to get a great deal without sacrificing quality. You can find some terrific prices on used golf balls from designer brands and most will provide you with many rounds before they give out. This is ideal for those that are still learning the ropes and have a tendency to dunk their golf balls in the nearest water hazard. When shopping for used golf balls, make sure that there are no dents or cracks since this can impact how well they will perform.
- Check out stay and play packages. Many hotels and resorts now offer stay and play packages for local courses. If you are planning a trip and would like to get in a little golf, this is a great way to save on fees. In many cases, you can not only get a reduction on your green fees, but your lodging costs will also be reduced.
- Take advantage of yearly packages. Most golf courses will offer a package deal where you can purchase full access for an entire year at a reduced rate. This is usually best for those that golf regularly. To see if this would be a good deal for you, add up how much you would normally spend on a year’s worth of green fees. If it’s more than the package deal, take advantage of that savings.
These are just a few ways that you can easily save money on golf. You can also take advantage of twilight specials on many courses, or get a group discount if you play with several friends. Golf doesn’t have to be expensive and with these great money saving tips, you can enjoy it even more.
Photo Credit: Fevi Yu
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Posted by Lazy Man on September 16, 2008 in
Frugal
I try to take a couple of weeks of vacation outside of America and Wall Street explodes. Lehman is filing for bankruptcy. Bank of America is buying Merrill Lynch. I don’t even need to get into American Insurance Group losing a third of value. It will teach me to get away from it all in isolated resort in Phuket, Thailand. I should be sipping Singha’s by the pool now, but I found myself drawn to the financial news.
One analyst on BBC World was asked about Lehman’s reported bankruptcy filing. He made a great point they don’t have a steady stream of deposits - and they don’t enjoy the same Federal protections. This is in contrast to companies like Bank of America and Citigroup who are much more diversified. It is this diversification that is allowing Bank of America to buy Merrill Lynch. Once again, we are reminded the value of diversification. Interestingly the next question was about whether it’s no longer worth it to “focus on one thing and do it well.” The analyst kind of panned the question. I would have said that it’s great to be focused in a popular area when times are good. When times are bad, it can be trouble.
Doesn’t that bring up an age old dilemma - is it better to diversify or focus? In many instances, I believe in diversifying. For investing, I think it’s just a certainly the way to go. When it comes to income streams, I believe in diversifying as well. Perhaps, I don’t give focusing it’s due. When it comes to being really successful, it seems that most do it by focusing on a few things and being the best at them. Aerosmith lead singer, Steven Tyler, says that anything worth doing is worth doing right. I mention that example, because he’s one of the best in the world at what he does. More than ever before, I’m reminded that diversifying seems to lead to a safety and possibly an average to above average lifestyle, while those looking for more may be better off focusing - just be prepared to end up bankrupt in your quest for greatness.
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Posted by Lazy Man on September 15, 2008 in
News
This is a guest post from Kevin at No Debt Plan where he writes about helping you get and stay out of debt before building wealth. If you’re too busy to visit his site, why not subscribe to his blog and catch up later?
There are some amazing similarities between exercise, dietary habits, and personal finance. I’m sure that’s why Lazy Man started this second blog. These things go together extremely well. I thought I would share a few similarities with this health conscious crowd.
Inertia is Everywhere
I hate getting up early in the morning. I love to sleep in, but the dog needs walking. I have to overcome inertia every morning to not ignore my alarm clock — to get out of bed, go for a walk, and get some exercise. Once I make that first step of simply getting out of bed, I’m awake and ready to go. But that first step is the hardest.
There is a certain amount of inertia that must be overcome to make any positive change in your life. You know you should exercise more. You know you should eat healthier. You know you need to save more and spend less. You know these things. Yet convincing yourself to actually start doing them can be incredibly difficult. It’s all in your head. A good kick in the rear by a friend, blogger, or inspiring author can get you started. All it takes is one step — get out of bed, walk outside, don’t buy the snack cakes, up your 401k percentage — to get started.
You Must Walk Before You Can Run
These small steps soon lead to big successes. There’s the story of the 400 pound man that walked half of his weight off. I’ve read other stories on CNN of people in the 400 to 500 pound range that lost a significant amount of weight simply by walking. First to the mailbox and becoming winded before making it back to the house. Then to the stop sign. The next thing you know they are doing laps around the neighborhood and the pounds are flying off. One foot in front of the other. “The journey of a thousand miles begins with a single step” (Lao-tzu) is absolutely true. (Granted these folks also changed their diets as well.) They didn’t have to run a marathon or bench press 300 pounds. Simple walking helped them achieve their goal.
This principle holds true for your eating and money habits as well. You don’t have to switch to a 100% organic, vegan diet overnight. That’s rash, expensive, and you likely won’t stick with it. How about removing soda from your grocery list this week? It’s a small change, but simply removing soda from your diet and drinking water (tap please) is a big step in the right direction. You can’t save one million dollars overnight. Consistent payments into an IRA, over time, can grow to that amount. Small steps. One foot in front of the other.
Multiple Paths, One Goal
Another interesting coincidence between these three topics: there are multiple paths to the same goal. For exercise you may hate running and decide to hit the gym more often to get your blood pumping. For diet changes there are several popular dieting programs for you to choose from — or you can not choose one at all. Saving more money can be done by budgeting, paying yourself first, or automatic increases in your 401k contributions. All of these things reach the same goal, but on different paths. One person may climb the mountain, the other may ride a mountain bike. They reach the summit regardless of the mode of transportation.
The neat thing about exercise, diet choices, and personal finance is they inter-connect. Imagine you start exercising regularly and become healthier because of it. Your blood pressure and cholesterol get back to healthy levels — to the point where you can drop both prescriptions. Not only are you more healthy, you’ve saved money. Your future healthcare costs could be dramatically lower by removing yourself from a health danger zone (risk of heart attack, diabetes, etc.). As you adjust your budget and pay off debt, you might have more money to dedicate to that vegan lifestyle… which in turn makes you healthier. A positive cycle ensues.
So go ahead, make a change in your life. Stick with a good habit for thirty days. Force yourself to get up early to go for a walk, cook a healthy breakfast, or balance your budget. One foot in front of the other on your journey to success. You’ll have to excuse me — time to walk the dog.
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Posted by Lazy Man on September 11, 2008 in
Health
The follow is a guest post by Tanesha Morgan a writer for Personal Finance Analyst. Personal Finance Analyst is an online community of bloggers dedicated to taking the mystery out of money and helping you to live a happier, more successful life with the money you have.
Lately, I have been seeing many advertisements about reverse mortgages. From what I gather, it sounds like a pretty good deal. As I understand it, once you reach the age of 62, you can tap into the equity of your home. You can receive the equity as either monthly payments or as a lump sum. And you never have to pay it back… as long as you do not sell the house. However, upon death, the home is sold by the lender. The mortgage company recoups its money out of the deal and the remainder goes to your heirs.
It seems like a good deal. Many people are equity rich and cash poor. And equity will not pay medical bills or afford you trips around the world. However, a reverse mortgage does just the opposite… you’ll be cash rich and equity poor.
The down fall though, you will be tapping into your children’s potential inheritance. But I don’t think that is a bad thing. I feel the same way about this as I do about whole life insurance. When you are 60, 70, 80… your children ought to be self sufficient. They should not be depending on your money to sustain them. I am sure adult children would be much happier to see their elderly parents enjoying the benefits of their years of hard work and sacrifice. And besides, you’ll have enough extra riches to invite them to Cape Town with you.
Anyhow, all I know about reverse mortgages is what I have seen on television. So I decided I would learn a bit more about it for myself… the specs, the good and the bad.
The Specs
What is it? A reverse mortgage is a home loan that allows the owner to convert their home equity into cash. However, this is a special loan that is only made available to those 62 or older who own their home, or have a relatively low mortgage balance. These loans can only be taken out on the home in which the borrower occupies. There are different ways to receive loan payments… but in general, the borrower can get a lump sum or monthly payments.
The Good
Reverse mortgages allows your home to pay you back. After taking 20 or more years to pay off a home, it is nice to have some real hard cash to show for your investment. Reverse mortgages takes equity off paper and puts it into your pocket.
And as long as the borrower remains in the home, the loan does not have to be repaid. Upon the death of the borrower, the home is sold and proceeds are used to repay the lender. Remaining proceeds, if any, are distributed to the decedent’s heirs.
If the loan is originated though a public lender, such as HUD, there may be a limitation on the use of the funds. However, if you use a private lender, no such limitations exist. You can use the money to supplement your retirement income, buy an RV, spoil the grandkids, pay medical bills… or anything else you come up with.
For tax purposes, the cash you receive under a reverse mortgage is not considered income. This is great, especially for those seniors that are bordering on a higher tax bracket.
The Bad
There is a limit on the amount of money you can borrow under a reverse mortgage. So even if you have a million dollars worth of home equity, you can’t borrow more than the legally set ceiling. The average national limit now is about $400,000.
Many people are deterred by the associated loan costs. Private lenders typically charge application fees, servicing fees, appraisal fees, origination fess, high interest rates, closing costs… and fees, fees and more fees. However the Housing and Economic Recovery Act of 2008 has placed some restrictions on these fees.
One huge disadvantage to reverse mortgages is that you are increasing your debt and decreasing your home equity. If the loan becomes due during a period of declining home values, you may owe more on the loan than what your home is worth. But this should be of little concern, because in most economies, property values generally increase over time.
Overall, I like the whole concept of reverse mortgages. The majority of most people’s net worth is comprised of their home equity. While home equity is a real asset, it is not tangible. Transferring equity into a liquid asset can ease many financial burdens and can also improve a person’s lifestyle.
Lazy Man’s Take: - I’m not sure that anything with “fees, fees, and more fees” is a good deal. Another good option is to downsize into something with less maintenance. Of course downsizing has it’s own set of fees: moving, selling a home, buying or renting a new one, etc.
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Posted by Lazy Man on September 9, 2008 in
Real Estate
I’ve been in Australia for a few days now and one thing I’ve noticed is that almost everything seems backwards here. The water goes down the drain the clockwise. People drive and walk on the wrong different side of the road (my wife has been right to remind me that there’s no definitive way these things should be done). I even struggled with a zipper for five minutes because I didn’t realize that the “inserty” part was on the opposite side. (You might want to remember this before acting on anything I say.)
However, despite all the opposites, I was amazed to read that things are surprisingly the same. It’s interesting that Australia’s Reserve Bank Chairman, Glenn Stevens, seems has the same problems as Ben Bernanke - not knowing what to do with the interest rate as it balances recession and inflation worries.
I think I need to make a return back to the United States as soon as possible. The world of opposites is tearing the fabric of the world apart. Britney Spears looks hot at the VMA awards and Tom Brady is injured for the season. I’m spending the rest of my day simply just shaking my head.
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Posted by Lazy Man on September 8, 2008 in
News
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