Guest Poster, Author at Lazy Man and Money

Environmentally Friendly Money Saving: Make Your Home Energy Efficient

May 17, 2017 by Guest Poster 9 Comments

The following is a guest post by Kostas Chiotis. He is an economist who shares tips on how to save money and manage finances at FinanceBlogZone.com. Connect with him on Facebook and Twitter.

Every time we think about home improvements, the first question that comes to mind is, “ Will this save me money”? Your goal might be getting out of debt, or saving money or just keeping your budget in place, but did you know that you can save money while being kind to the planet? I will talk about how we can make our homes energy efficient without hurting the environment.

In recent years, many people have become sensitized of the need to conserve the environment and save money at the same time. The perception that eco-friendly homes must be newbuilds is misleading because you can start making small changes to your home with the few bucks that you have. Such improvements can be done with any budget, without breaking the bank. If you want to make a start, here are suggestions to reduce your energy bills and help the planet.

Top 10 Eco-friendly Home Improvements to Save you Money

1. Seal Leaks and Drafts

Sealing air leaks during winter and summer will help you save some dollars off your energy bill. Check your house for possible drafty doors and windows, that bring in cold or hot air, forcing your air HVAC system to work extra hard to maintain desirable temperatures. Overworking the air conditioners or furnace means that more energy will be used up, putting a strain on your wallet. Test for leakage in draft-prone areas such as window frames, doors, baseboards, pipes and chimney and use weather stripping or caulk to seal them.

2. Roof restoration

Investing in roof restoration will save you money in the long run, although the price for the restore services could be high. During the summer, roof restoration will prevent heated air from entering your house, thereby reducing strain on the cooling system. It also helps in keeping the house warm during winter. You can lower the cost of roof restoration by using green roofing products and hiring a local contractor.

3. Use wood-framed windows

Replacing your UPVC and metal windows with wood-framed windows will save you money and protect the environment. Wood-framed windows last a lifetime, are more insulating and less polluting than the popular UPVC windows which emit toxic compounds. Also, wood-framed windows are easy to repair.

4. Install a Programmable Thermostat

If you use an old air conditioner at home, you are likely to see inflated utility bills during the summer, since these systems have to do extra work to maintain the home temperatures. Ideally, you have to turn off the AC when there is no one at home or lower the temperatures when people are asleep. You can quickly forget such actions.

With the programmable thermostat, you can regulate your home’s temperatures depending on the settings you choose for specific times of the day. Plus, it is inexpensive to install, and it will shave off some bucks from your bill.

5. Buy Energy Efficient Electric Appliances

When purchasing new appliances or upgrading your home equipment, check if they have the Energy Star label. The label means that the devices have been certified by Energy Star and meet a high level of energy efficiency. They offer significant energy savings without compromising on the performance. Also, some electricity providers offer incentives for replacing old appliances with the energy star rated models.

6. Install Solar Energy

Solar energy power is a renewable source of energy that is provided naturally from the sun. Although solar panels are expensive to purchase and install, they can result in huge savings in the long term, making your home green.

To take advantage of solar power, make sure you locate it in a place where it can collect as much energy as possible. Hire a local contractor to advise you on the best location for the solar panels. Also, you can benefit from tax breaks, grants, and incentives from the government, as they continue to encourage the public to utilize the natural power around us and bring down electricity consumption. If you are in debt, getting advice on how to manage debt and taking advantage of such government grants and incentives is good for your wallet.

7. Use Sustainable Building Materials

Did you know that you can use eco-friendly materials when building every part of your home? Using materials such as recycled plastics, recycled glass, reclaimed lumber, bamboo, and cork will help reduce the impact of the construction on the surrounding. They can be used as building materials, roofing materials, floor insulation and sealing air leaks in your home.

In addition, insist that your contractor recycles old wood floors, doors, and windows instead of sending them to the landfill.

8. Eco-friendly Lighting

Replacing your old bulbs with compact fluorescent lamps (CFLs) and light emitting diodes (LEDs) will lower your electricity bills over time. CFLs and LEDs have a longer lifespan than the traditional bulbs, even though they are pricey. They are an ideal option for eco-friendly home improvements.

9. Add heavy curtains over windows and doors

Although they may seem cumbersome, heavy curtains or drapes will help conserve energy by trapping warm air inside during cold weather. Also, the curtains will keep the sun’s heat out during the summer, thus reducing an overwork on the air conditioner. This helps to reduce energy bills in the long term.

10. Water Saving Improvements

Moving from high flow to low flow faucets and showerheads will contribute to water conservation and cutting down your water bills. Also, you can help the environment by taking a shower rather than a bath that requires a lot of water.

Collect rain water by installing a water harvesting system and storing it in a tank. Use the rainwater for household activities such as watering your landscaping and flushing the toilet. Also, using tankless water heaters instead of hot water tanks will help save space and energy, since it heats only water that is passed through the electric coil. The extra space can be used for holding the rain barrels that store rainwater.

No matter how limited your budget is, you can make your home energy efficient and save the planet. The best part is, you do not have to make complete upgrades to be eco-friendly. Instead, start making small improvements, and your home will be green. In the course of the year, plan to make small improvements such as replacing your old bulbs with LEDs or CFLs, upgrading your electrical appliances to Energy Star rated models and sealing the air leaks around your window frames and doors.

Photo Credites: Pixabay

How Much Does Creating a Website Cost?

April 9, 2020 by Guest Poster Leave a Comment

The following is an article from Trent Anderson. It’s especially timely because I’ve spent the last couple of days dealing with a pile of other work. So while this isn’t a typical personal finance article, I think it can be helpful for small business owners. I hope to get together my monthly financial review for tomorrow.

If you run a business, you need to have a website that performs well. After all, a website is your global shop window, so you need to make sure it’s designed effectively. There are options such as WordPress available, which you can use to design and host your own website. This limits the amount of cost involved, but is time and effort intensive; if you want to do a good job.

It makes sense to search for a web design company or a professional SEO agency, to cater for all of your web design needs. They can handle the creation of your website, and the ongoing hosting and maintenance. But, how much does all of this cost?

The cost of a high end website

The costs of creating and maintaining a high end website have risen in recent times. This is due to the use of technology such as responsive web design. You may think that paying an average of around $9000 is a substantial investment, and you would be right. That being said, if you have the budget to invest, it can be worth it.

You get a website that is designed for use by users of all devices, including mobile users. Given that more people browse the Internet using a mobile device than using a desktop, you can see why this is a valuable advantage.

Lower priced websites

The fact is that not every business can afford to invest in a high end website. The good news is that website design priced at the lower end of the market has become more affordable. This is partly due to the fact that there are many more web developers and designers out there, and competition has led to price reductions. There are also more free design tools that are accessible online.

This means that you should be able to have a good basic website designed for an average of around $2000. You need to remember that basic means just that, and your website is unlikely to be optimized for viewing using a mobile device.

[Editor’s Note: I disagree with the author here. If the website is created in WordPress it is easy to choose a theme that is optimized for mobile users. It can be as easy as just clicking a few boxes. If you are paying $2000, you should demand that it is mobile-optimized.]

Ongoing website hosting and maintenance costs

It’s not just about the initial cost of setting up a website; it also has to be maintained and hosted on an ongoing basis. The cost of this varies greatly depending on aspects such as the functionality of your website, the type of maintenance and the choice of hosting option. Generally, you can expect to pay anything between $75 and $1000 per month.

An effective web site is a vital tool for any business. You need to make sure that your website is designed and maintained to have the optimum potential effect. Obviously, the performance of your website can be affected by the amount of money you pay for it; generally speaking you get what you pay for. There are options available for most budgets though. You should seek professional advice about how to make the most of your budget, to create a website that works for you.

Request Financial Risk Tolerance Assessment Software from Your Advisor

November 6, 2016 by Guest Poster Leave a Comment

[The following is a guest post by Mark Friedenthal, the founder and CEO of Tolerisk®. Tolerisk is a risk tolerance assessment tool that is created for financial advisors and those in the wealth management industry. Prior to launching Tolerisk®, Friedenthal started Friedenthal Financial, where he worked as an investment advisor for private clients.

I think financial risk tolerance is a very big deal that doesn’t get a lot of attention in the personal finance space. Having witnessed the dot-com bust in 2000 and the subprime bust in 2008, I know that they can be painful for those who aren’t prepared. We’ve gotten close to another 8 years without a big collapse. Maybe the next one is around the corner.]

Whether you invest a significant amount in the markets, or you’re simply trying to grow a nice retirement savings account, you will want to work with a financial advisor who can provide expert insight and guidance. That being said, it is essential that you and your advisor agree to the amount of risk that is right for you, as you manage your investments.

Don’t feel like you have to attempt to figure out your risk tolerance level on your own. Instead, request that your financial advisor use advanced risk tolerance assessment software, such as Tolerisk®, in order to create the right plan of action for your specific situation.

Top Reasons Why Clients Request Tolerisk® Financial Risk Tolerance Assessment Software

They want to know the right level of risk to be taking — and how it will likely evolve over time. Risk tolerance questionnaires are not new. Most financial advisors have been using these questionnaires with their clients for years, but most of these questionnaires lack a scientific approach. The majority of these questionnaires provide clients with a vague ‘moderate’ risk level. This leaves lots of room for interpretation by Advisors and clients alike. With good risk tolerance assessment software, scientific calculations are used to provide advisors with personalized results for each individual client. Ultimately, the assessment results provide clear guidance as to the next steps that should be taken with your particular portfolio risk.
They want to understand how differing decisions (how long they work, how much they save, or how well they live) will impact risk level and how long their money will last. Your basic risk tolerance questionnaire is going to ask you a lot of questions about your personality. While this is one thing to consider when determining your risk level, there are also several other important factors that must be incorporated into your decisions. Request that your financial advisor use good risk tolerance assessment software that evaluates both your willingness and ability to take risk. There is a non-linear relationship between these two factors that must be analyzed in order to deliver expert results.

Ultimately, by working with a financial advisor who utilizes good risk tolerance assessment software, you can receive the expert care and guidance that you need as you maneuver through the financial markets. Tolerisk® is risk tolerance assessment software that takes into consideration both your willingness and ability to take risk. After the assessment is complete, your advisor will review a report that incorporates all of your unique information and produces very personalized results. This report, which is easy to read and interpret, can be used as a valuable resource when it comes to managing your investments and your expectations.

10 Ways Frugal Living Prepares You for an Emergency

October 20, 2016 by Guest Poster 1 Comment

[Editor’s Note: The following is a guest post by Carmela Tyrell. After she introduced her site to me, I asked if she’d be willing to write a guest post and here it is! (Obviously!) Carmela is an experienced prepper that enjoys spending time working in her garden and exploring new ways to generate off-grid electricity and water for her family’s home. She prides herself in working hard to cut reliance on all things “municipal” and transition to a more self-sustainable living. She is also very knowledgeable about herbal remedies, surviving a nuclear disaster and bugging in. You can read more of Carmela’s work on Survivor’s Fortress.]

As someone dedicated to both frugal living and prepping for short and long term disasters, I can tell you that it is possible to achieve both goals. In fact, my experiences lead me to conclude that frugal living is one of the most important things you can do to be ready for any emergency. Sadly, I’ve seen more than a few of my fellow penny pinchers run to the stores to buy all sorts of useless stuff before an emergency hits because they completely lose sight of what frugal living has already made available to them. Have a look at how your frugal lifestyle may make surviving an emergency easier (and less expensive) than expected.

Your Priorities Will Always Be Clear

I don’t know about you, but when I’m focused on saving money for a new computer or paying down a debt, Kim Kardashian’s antics are the last thing on my mind. When you have a set of priorities, few things can steal your valuable attention and cause you to waste energy and money on less important matters.

From Frugal Guru to Survivalist: The ability to remain focused on tangible objectives is also very important in an emergency. No matter whether it takes hours to prepare potable drinking water or days to reach a safe location, keeping to your financial priorities is an excellent practice that will translate to other situations even if no money is involved.

Your Goals Will be Tangible and Practical

If you are as frugal as I am, there is also a very good chance that everything you buy must:

be something you can use to make more money than you spend on it
have a tangible purpose that advances some basic necessity of life
be cheaper to operate and last longer than comparable items on the market
must be on sale, or marked well below the average cost.
Must never make you get that naggy feeling that you are spending too much.

From Frugal Guru to Survivalist: During an emergency, the most important thing you can do is start off by understanding what must be done and what isn’t as essential. When you are careful with your money, then it is very easy to measure everything you do in terms of what will best advance your goals as quickly and efficiently as possible.

Become Immune to Marketing Ploys Many people are surprised when I reveal that I have a smartphone that cost well under $200.00, yet it has a better camera, a faster processor, and overall better performance than some of the most expensive phones on the market. Now, frugal living isn’t always about choosing an “off brand”, nor is it about doing without things that are important for achieving your goals. It is, however, about taking the time to shop around and actually have clear ideas about similar products that are available. Why buy a “premier” smartphone scandalized by exploding batteries or an expensive cell phone plan when the most frugal among you already know that:

there are unlocked phones with stellar features and safety ratings
a phone with WIFI can work right off your home router, or a public hotspot for calling, texting and getting online without spending an extra dime on a cell phone plan.

From Frugal Guru to Survivalist: Frugal minded people that also want to be ready for any emergency must also always keep in mind that a fool and his/her money are soon parted. You can prepare for most emergencies with relatively cheap, multi-purpose items if you do your research carefully and learn how to master some basic skills. Remember, there is a world of difference between the hype used to sell the newest model knife and your ability to actually use it to build a shelter. When pressed to prepare for an emergency, your frugal mindset can keep you focused on what you need as opposed to what a marketing specialist wants to sell you.

Practical Improvisation Saves Money

Being frugal doesn’t mean you must put up with dirty clothes because the washing machine died or your home must be a mess because furniture
and home care products are so expensive. On the other hand, you don’t need to spend $10.00 or more on the Laundromat when you can make a reusable bucket washer (complete with wringer) for a fraction of the cost. By the same token, many frugal people are well acquainted with making soap from scratch as well as many other things required for daily living. If you rarely go to the store for routine living needs, then rest assured you already have a number of valuable skills that will help you get through a number of emergencies.

From Frugal Guru to Survivalist: Now, if you still buy soap, food, and other “necessities”, this is a perfectly good time to learn how to make your own goods, grow your own food, and collect your own water. Aside from being fun, you will be taking your frugal lifestyle to a whole new level and be ready for both large and small scale disasters.

Practice Using Time Wisely When I tell people that it only takes a few hours to make enough soap for one year, they laugh because they think it is wasted time. These very same people never mention the fact that the average trip to the supermarket takes well over an hour between getting there, shopping, standing in line, getting home, and unpacking. Even if you only buy soap products once a month, you will spend a minimum of 12 hours on this task, plus you will spend well over $1,000 dollars a year just on dish detergent, bar soap, laundry soap, and shampoo. Compare that to my measly afternoon making soap and around $70.00 in cost for a year’s worth of the above mentioned soap types.

From Frugal Guru to Survivalist: Time is incredibly valuable regardless of the situation. Invariably, when you spend your money carefully and know how to make do with what you have, you will also find that your time is also spent wisely. Perhaps if you don’t have enough time to pursue a cherished hobby, you should try making soap as a starting point for saving money, saving time, and also being ready for any emergency.

Useless Clutter Will Never be an Issue

To be honest, when I visit my friends and family members, I can always tell which ones are sensible, frugal people and which ones are “wannabes”. Nothing says “wannabe penny pincher” like a spotlessly clean house filled to the gills with knick knacks and other assorted … well… to my eye… junk. People that are legitimately frugal and know how to manage their money don’t need to be surrounded by useless stuff. Rather, when you walk into their home, you will see clean rooms free of clutter.

From Frugal Guru to Survivalist: There is always plenty of counter space for cooking, canning, or making all kinds of daily living needs. A frugal survivalist is likely to have old, but well-maintained tools and equipment and there will be plenty of signs that everything has a purpose and a place. When you can only take one bag of items along with you to a place of safety, being able to pick the most important items is truly critical. Practice this skill by decluttering your own home.

Fewer Pieces to Pick Up Makes Rebuilding Easier

Some of the most frugal people I know can literally pack their belongings in a matter of minutes and be ready to move hundreds of miles with very little difficulty. These people know exactly what is important and they never worry about what they left behind. Not only have these people saved thousands of dollars over the years, starting over in a new location is much easier.

From Frugal Guru to Survivalist: In an emergency, the less you have around that can be broken or ruined, the easier it will be to move on and make a new life for yourself. In fact, if you put the money away that you would squander on things that are likely to be lost or ruined in a hurricane or other disaster, you will be amazed at how much easier it will be to start over if needed.

You Will Focus More on People Instead of Useless Junk

One of the things I love most about frugal living is the strong connections with friends and family members that legitimately care. When you live a frugal lifestyle, you aren’t tempted to base your associations on outdoing each other in the spending department. There is truly more joy and tangible satisfaction in spending an afternoon fishing or helping with a building raising than spending a small fortune on a new evening dress so that everyone will be jealous.

From Frugal Guru to Survivalist: Never forget that possessions are possessions. They can do nothing without you. On the other hand, good friends that aren’t bound by money can work together to meet any emergency and come out ahead of the situation.

Less Debt Equals More Options to Succeed

To be fair, far too many people (including frugal ones) wind up using credit cards to make it from one paycheck to the next. Chances are, you may also be in search of ways to save money because you have a mortgage, car loan, and other debts to pay off. Now, as in any emergency situation, the less you owe, the better off you will be.

From Frugal Guru to Survivalist: Even something as simple as cooking your own meals in bulk can reduce your debt and make it easier to manage an emergency. The options are truly endless and span every area of daily living.

Gives You a Chance to Save for a Rainy Day

Within a very short period of time, frugal living can lead to saving money. Even though money will become useless at some point in both large and small-scale emergencies, having some extra on hand is never a bad idea.

From Frugal Guru to Survivalist: Expand your savings methods to include foreign or alternative currency options. Make sure that you know when it is best to use barter and when it is best to use cash.

Are you surprised at how similar frugal living is to prepping for emergencies? If so, you may not have realized that some of your most prized money saving habits translate directly to skills needed to manage an emergency. Please feel free to share in the comments below about some of your frugal living methods and how you think they can be translated into meeting emergency situations more easily.

Starting A Stock Portfolio? There Are Apps For That

July 21, 2017 by Guest Poster Leave a Comment

The following guest post on investing methods was written by Jim Cooper. Jim is a part-time freelance blogger who covers lifestyle, finance, and similar topics.

“Step 1: Open a brokerage account if you have several thousand dollars.”

This is the first line I saw when, some time ago, I somewhat-embarrassingly started googling things like “How do I open a stock portfolio?” Literally speaking, it’s a pretty logical first line in describing the process. But where I was concerned, it was immediately overwhelming. Full disclosure: I wasn’t sure what opening a brokerage account entailed, and I wasn’t sure if I wanted to commit “several thousand dollars” when I was really just looking to get my feet wet.

Let me back up a little bit. I think for the average young person, investing can seem pretty complicated. Not so for this lucky writer. I grew up in a household in which it seemed about as simple as could be. My mother was, for much of my life, a day trader who would sit in her home office listening to people yelling at her on CNBC and glancing at a few different computer monitors making snap buy or sell decisions. To me, it looked pretty straightforward: buy low, sell high, look for recognizable patterns in charts, and hope that the little number showing the change in the overall account for the day is green instead of red.

As it turns out, the average young person’s understanding is far more accurate than my warped and simplified one. Sure, the trading process is more or less what I saw it to be once you’re up and rolling with everything set up. But the part I never really witnessed (or, frankly, thought about) before I started to look into setting up my own portfolio was the logistical side of things. You have to choose a brokerage, set up your trading software, pay fees for transactions, and go about managing all kinds of other not-so-fun details as you go.

Perhaps it was silly of me to only see what was on the surface for all those years watching my mother, but then think about it with regard to other professions. If your parent is a lawyer, do you see the meetings and stacks of paperwork, or do you wonder how he or she went about obtaining PLLC status and renting out office space? If your parent is a teacher, do you envision the actual teaching and grading, or do you picture in-depth lesson planning and meetings with faculty and administrative people to outline a year’s worth of education? I digress. But my point is these things can look a little simpler when you’re close to them but not actually in them yourself.

The point is, I wasn’t quite prepared for the involved process of setting up a trading portfolio through an online broker, even if it’s something that millions of people learn how to deal with. And it turns out I’m not the only one. Having done a little bit more research on the topic, I’ve learned that a lot of so-called “millennials” (yes, I’m one of them) are weary of traditional investments.

What I also discovered is that my fellow millennials have gravitated toward alternatives more suitable to our general preferences as a generation. In a post specifically about how young people are approaching forex, it was mentioned that the availability of financial resources has surged as a result of companies developing new tech-based platforms to appeal to new audiences. In other words, financial apps are getting more popular because they speak the millennial language.

The first app I came across was Acorns, a clever tool that invites its users to experience “micro-investing.” To be perfectly frank, it was the image and interface of the app that drew me in first. Like Monument Valley in gaming, Acorns stood out as a particularly beautiful app that I’d actually enjoy using. Make no mistake, in the age of instant gratification, you can judge a book by its cover; something that looks nice has a better shot at grabbing a young person’s attention, and Acorns looks terrific.

As for what it actually does, it’s kind of like a digital piggy bank that knows how to invest. This app links up to your cards to take small amounts of money (rounding up to the nearest dollar when you make a payment) and then place them into a portfolio that’s already been compiled and is managed by professionals. You can choose from a few different portfolios by risk level and then simply watch your account generate income from your spare change. It’s not going to double your bank account or anything, but it’s completely effortless.

Two other apps that also popped up in my searches were Stash and Robinhood, which do largely the same thing. Basically, these are more hands-on mobile investing tools that actually challenge you to make your own buy and sell decisions. The fun part is that they don’t charge fees for transactions and they’re just a whole lot simpler than going the online broker route. Like Acorns, both are very attractive in a minimalist way, and both are simple to use. Robinhood and Stash offer real and active investing in addition to various tips and tools that can help you to analyze your own performance and learn on the go. So far I’m going with Robinhood, but it’s only because I like the look of it a tiny bit more. Both apps have generated some really positive attention and strong reviews.

Overall, I’d file apps like these under the category of “life hacks” for anyone else, like me, who looks at traditional stock trading and sees something far more complex than it needs to be.