Social media platforms have brought about many influencers to teach, talk about, and even try to influence people on their money decisions. Honestly, there are a bunch of grifters out there trying to make it for themselves. Then there are those trying to help people create wealth and do well financially. Here are 10 of the Worst Financial Pieces of Advice That is Making You Poor 1. Carry A Balance On Your Credit CardWhoever gave this advice does not know what they are talking about. Carrying a balance on your credit card will show that you cannot pay your bill on time. The interest rate on the balance is anywhere from 15-26%, and the compounding effect on that can be so significant that you could be stuck with credit card debt for a long time. Take this piece of advice. Pay off your bill at the end of the statement every month. No balance means no interest on your payment. If you can’t pay for it then don’t buy it. 2. Save 10%, And You’ll Be SetSaving is significant for the budget and for getting you ahead. Breaking that paycheck-to-paycheck cycle is one of the best things, but only saving 10% is no way to be set. A 10% savings rate that is invested will allow you to stop working in 51 years. So if you start work at 22 years old, you can retire at 73. The more you save, the less time you have to work. At 15%, you can stop working in 43 years. That is the whole eight fewer years by saving an additional 5%. So try to keep as much as you can early on. 3. YOLO (You Only Live Once)People say life is short. That is true, but if you live to be 100 years old, spend all your money, and never save, that life will feel very long. Try to save money to have it when you need to retire. It is better to be prepared than have spent everything and need to work until you are in your 80s. 4. Never Use a Credit CardCredit cards get a bad rap for credit card debt. Some people need to improve their finances and not overspend. That is why they must learn to control their spending with better budgeting and personal finance education. Credit cards are not evil. They give great sign-up bonuses, some which can reach up to over $1,000. They also help you get some cash back on the items you already pay for. They give insurance and warranties and protect you from fraud. They can even help build your credit if used correctly. So they are a helpful tool. Don’t be afraid; get educated and use credit cards to enhance your wealth. 5. Renting is Throwing Away Your MoneyOwning homes is a costly undertaking. It can be expensive, from property taxes, property maintenance, homeowners insurance, interest on the loan, and so many other things. Renting can give you options. If you need to move, you can go without putting up your house on sale, find a new place to buy, and miss opportunities. 6. Crypto is The FutureCryptocurrency may be the future, and it may not be the future. Who knows what will happen in the future? We could be trading coffee beans as our primary currency. If some people try to influence you on cryptocurrency is the future, research and figure out what you should do. Just know that we may not know what the future holds. 7. College is UselessA recent Forbes Study, showed that a college education gives more job opportunities and higher salaries than those without a college education. In 2021, the year after the pandemic started, 86% of college-educated people had jobs, while only 68% of those with high school diplomas were employed. A college education opens up more doors than not having one. 8. There is No Such Thing As Good DebtThere are plenty of places where debt is good. If you can pay for something that brings value to your life, it can be good debt. Buying a house can be considered good debt. It allows you to have a place to live and create a habit of saving money as you pay your mortgage monthly. Business loans can be good debt. 9. Don’t Worry About Saving; Just Earn MoreEarning more does not mean you are saving more. If you are not saving now, what makes you think you will save when earning more? The best place to look is to cut expenses that are not necessary. If you can work on trying to save 10-20% of your income, then earning more will increase that. So living on less is much better. 10. Investing is GamblingWith gambling, the odds are stacked against you. Investing is much different. There is a history of investing in the S&P 500 will make you rich. The markets go up and down, but buying a simple index fund that follows the market will do well enough to create great wealth. Many people have made their fortunes from just simply investing. This thread inspired this post. Via https://thefrugalexpat.com/worst-financial-pieces-of-advice/
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10 Seemingly Expensive Purchases That Are Actually the Smart Frugal Options in the Long Run5/19/2023 Making a big purchase is anxiety-inducing, especially if you're not sure it's worth the investment. A user on a popular online forum asked for advice: “What seemingly expensive purchase is the smart frugal purchase in the long run?” People shared their responses in the comments. 1. Construction![]() Suppose your home needs repairs or you plan to add an addition. In that case, hiring a quality contractor is essential rather than going for cheaper options. A botched job will cost you more in the long run when you hire a second maintenance specialist to fix someone else's mistakes. 2. Therapy![]() While therapy is expensive, especially because many therapists in the U.S. don't take insurance, taking care of your mental health is essential for your quality of life and your ability to make money. According to one commenter, they pursued therapy to help resolve self-sabotaging behaviors and found success came much more naturally. “I've already received a return on investment financially, and I no longer feel like suffering is a fact of life.” 3. Tires![]() Good tires are worth the investment because they will last longer and keep you safer. If you drive your car daily, tires require a lot of wear, so always buy reputable tires. 4. Winter Coat![]() If you live somewhere that gets ice-cold in the winter, you want to invest in a high-quality winter coat. Cheaper winter jackets can be heavier than quality ones and still feel half as warm. Unfortunately, the cheaper the jacket, the quicker it will fall apart, and you will need to buy a new one. 5. Deep Freezer![]() While many people might wonder why on Earth they'd ever need a massive freezer, others believe purchasing a brand-name deep freezer can help save tons of money. Why? Because that way, you can buy food when deals are good and freeze fresh meats, fruits, and vegetables for weeks instead of relying on current prices for your daily meals. 6. Shoes![]() Good shoes can make or break your foot health. If you always purchase the cheapest shoes, you'll never get the arch support your feet deserve. That can lead to many problems that could lead to injuries that require physical therapy or even surgery to resolve. Prevent expensive procedures when you invest in high-quality footwear. 7. Mattress![]() “My dad always used to tell me, ‘There are two things in this world a man should never cheap out on. His boots and his bed, because if he's not in one, he's in the other,'” shares one commenter. This person's dad was a wise man. The average person spends one-third of their life in bed. Knowing that, don't you want to ensure your mattress is as comfortable and supportive as possible? 8. Cast-Iron Skillet![]() While non-stick pans typically cost a fraction of the price of a quality cast-iron skillet, investing in the latter will save you money in the long run. Non-stick pans will only last a couple of years before the non-stick materials begin to peel off. But according to one respondent, “I own a cast-iron skillet that's well over 70 years old. It looked the same when it belonged to my grandmother.” 9. Electric Toothbrush![]() If you live in the U.S., you probably know that good dental insurance is hard to come by. That means it's essential to care for your teeth every day. If you invest in a good electric toothbrush, chances are you'll need less dental work in your lifetime, which saves you from spending money and being in pain. 10. Solar Panels![]() If you're a homeowner, consider switching to solar power to fuel your electricity. While solar panels cost a big chunk of change upon installation, your electricity prices will surely drop significantly, saving you big overall, not to mention the bonus that it helps the environment. Do you have any favorite purchases that cost a lot upfront but save you big in the long run? This thread inspired this post. More Articles From The Frugal Expat![]() It's always great to save money in the long run. Especially now, with financial times being challenging and more uncertain for many. Sometimes purchasing more products or costlier items can, in fact, save you money. From everyday home purchases to footwear, here are some purchases to save money. 12 Things Frugal People Spend More To Save More Money On 10 Best Examples of Spending Money To Save Money in Australia![]() How do you get ahead in life? Generally, the best way to start doing that is to get ahead of problems before they happen. For example, spending money to save money can be painful at first but undoubtedly can give you huge benefits in the long run. 10 Best Examples of Spending Money To Save Money in Australia Top 10 Convenience Services That Frugal Folks Deemed Worth the Money![]() “Convenience” and “frugality” aren't words you'll often find in the same sentence. Unless that sentence is “convenience and frugality aren't words you'll often find in the same sentence.” Convenience is not cheap. And yet, even the most frugal savers recognize that some convenience services are well worth the higher price tags. Top 10 Convenience Services That Frugal Folks Deemed Worth the Money 10 Best Purchases Frugal People Said Amplified Their Quality of Life![]() What is frugality? By definition, frugality refers to saving money and approaching monetary transactions with mindfulness and care. Whatever the word means to you, sometimes frugal individuals spend more than they usually would improve an aspect of their life. Here is a list of ten items that enhanced the quality of life for self-proclaimed frugal individuals. 10 Best Purchases Frugal People Said Amplified Their Quality of Life 13 Frugal Tips to Control Food Spending That Could Save Big!![]() Saving on food is imperative to keeping a reasonable budget. Some simple actions are needed to ensure you are not overspending or even wasting money on food. These 13 frugal tips to control food spending should help you to create more savings and enjoy life a bit more. 13 Frugal Tips to Control Food Spending That Could Save Big! Via https://thefrugalexpat.com/expensive-purchases-that-are-actually-the-smart-frugal-options/ Can we genuinely evaluate a location by simply perusing the many professional images that appear in the search bar? The pictures might only show you the positive aspects of your holiday destination, but they don't tell you about the dangers you might encounter abroad. Nobody likes being taken advantage of, especially while on vacation, so it's crucial to do your research to avoid any uncomfortable situations. And nobody can inform you about these frauds better than the locals! For anyone who plans to visit Europe in the future, reading the responses and reviews concerning tourist traps in their regions is a must. Let us write twelve European tourist traps you must avoid because we care for your time and money! 1. The Mona Lisa in Paris, France![]() The Mona Lisa is located in the Paris Louvre. It's only a small painting that is hanging in a very packed space with lots of tourists. Mona Lisa is a stunning, well-known picture, but it isn't reason enough to go to the Louvre. More striking than the Mona Lisa are the majority of the other works of art in the museum. Without a selfie stick or camera, it will be impossible to take a picture. So, if you're going to the Louvre, it's advisable to skip the masterpiece by Leonardo da Vinci and go for the Louvre's overlooked treasures instead. 2. The Eiffel Tower, Paris![]() The Eiffel Tower appears on everyone's wish list and Instagram feed. Its lacy staircase of vertical bridges is impressive. Other parts of Paris, though, have superior vistas and don't have to deal with crowds of tourists, tight security, pickpockets, swindlers, or vendors pestering you to buy flashy trinkets. The base of the Eiffel Tower is currently enclosed in an 8-foot-tall bulletproof glass shell. To walk beneath the Eiffel Tower, you must go through a metal detector and bag check. It is far nicer to observe the Iron Lady rather than climb her. Simply put, it is not worth the cost and lengthy waits. 3. Hallstatt, Austria![]() Because of its UNESCO status and popularity, Hallstatt is well-known and has made significant adjustments to the tourism industry. Some have labeled it the most romantic location in all of Europe. The town is filled with little shops that sell local products made with salt that is produced nearby. Additionally, there are lots of restaurants that focus on local cuisine. If you've looked at images of the town online (all of which were captured from the same two angles), you've probably already seen it. Despite being beautiful, it is crowded with tourists and home to cheap souvenir shops. There are a tonne more actual lakefront communities there. Hallstatt can be completely missed. 4. The Little Mermaid Statue in Copenhagen, Denmark![]() Even though the word “little” appears in the name of this “attraction,” you'll be surprised by its true size. Once more, it is unclear why people are shoving one another aside to take pictures of this 4-foot sculpture. You're better off going to the Louisiana Museum of Modern Art's Sculpture Park, which has over 60 magnificent sculptures and amazing views of the Sound. 5. Leaning Tower of Pisa, Italy![]() The Leaning Tower of Pisa is unquestionably one of the most popular towers in Italy. It became famous because of a mistake in the drawings for the design that finally led to the tower leaning. As a result, the tower draws an average of 5 million visitors per year, making it a popular tourist destination. The tower does not stand out from other structures around Italy, save from the evident leaning factor. As a result, it has no more distinction than a typical selfie site where a million other individuals also take selfies. 6. London Eye Ferris Wheel![]() The London Eye has been called one of the overrated attractions in London, with the worst view of the city. A 30-minute trip on the Ferris wheel will cost you about 36€, while a fast-track ticket would cost you about 73€. You'll need the fast-track ticket. Hundreds of other tourists will barrage you, and the lines can be incredibly long. The London Eye receives over 3.5 million visitors each year. That is almost 10,000 people each day. That's insane! 7. Piazzale Michelangelo in Florence![]() The Arno River, the Duomo, and the Ponte Vecchio are all visible from Piazzale Michelangelo, which is famous for this reason. But regrettably, those breathtaking views are frequently detracted from by vendors of David figurines and diluted gelato. By continuing to climb the mountain past the flowering rose garden to San Miniato, you can avoid all of this. One of Florence's most impressive Romanesque basilicas, it was constructed in 1018. If you're fortunate enough, you might even hear the Gregorian chanting of the monks. 8. Durres Beach in Albania![]() This tiny Balkan republic has beautiful coasts on the Adriatic and Ionian seas. The most lovely location for cooling off and soaking up some sun is Durres Beach, located west of Tirana, the nation's capital. But good luck trying to discover even a single particle of sand among the crowds of people. Cocktail parties and extremely sweet beverages are popular here. Instead, have a look at Gjipe Beach. It is less famous, more south on the Ionian Sea, and well worth the effort. 9. Mozart and Strauss Concerts in Austria![]() A lover of classical music must visit Vienna. The Austrian capital produced many of the finest composers, although that was long ago. Nowadays, when Mozart & Strauss concerts at the Kursalon feature music by the two musical giants, most tourists remember the greats. These tourist-targeted concerts are frequent, pricey, and, quite frankly, not of a caliber to warrant the expense, especially when they come with exorbitant dinners. See a live show at the renowned Musikverein, where all the greats formerly performed, rather than spending your money on one of these kitschy performances. 10. Dubrovnik in Croatia![]() Despite being a stunning walled fortress, tourists from all over the world have completely taken over Dubrovnik. We can mostly “thank” “Game of Thrones,” which used the location to depict King's Landing, for this, as over-tourism turned the area into a crowded nightmare. On that note, stay away from the tourist trap Game of Thrones tours here. Visit any more than 1,000 islands in Croatia instead or destinations along the Dalmatian Coast like Split and Zadar. All offer amazing views with some breathing room. 11. Madame Tussauds in London![]() Outstanding national institutions with extraordinary artwork are abundant in London, and practically all are free. On the other hand, Madame Tussauds is a wax museum in a large city that features several British celebrities you would not even identify. But if you truly want to see fake celebrities rather than just looking for them online, get ready. You'll spend a lot, endure excruciatingly long admittance lines, and visit a busy, noisy museum. Due to the crowding, it can be challenging to get a good shot with the Marvel comic characters or the royals. 12. Picadilly Circus and Leicester Square in London![]() Picadilly Circus and Leicester Square are extremely obnoxious, busy, and raucous versions of Times Square. They are the graveyard of excellent taste. You'll be surrounded by fast food restaurants and inexpensive souvenir shops selling souvenirs made in China. When visiting London, do you want to dine at Burger King? The Lego store and M&M World are located in Leicester Square, and Angus Steakhouse is the worst restaurant on earth. Some Great Tips on Avoiding the Tourist Traps in Europe![]()
Research and Plan![]() We have mentioned the places that are not worth your time, money, and effort. Therefore, if you plan to visit Europe or anywhere, do deep research and gather all the information about the place so you do not get trapped. 12 US Tourist Attractions That Are Overrated![]() We all enjoy traveling because it is one of the few activities that enable us to discover new places and make lifelong memories. But only a few of the destinations are worth the hype. In reality, many well-known U.S. tourist sites are rated higher but frequently disappoint visitors. So, we have gathered together the names of places that are overrated so that you can save time. 12 US Tourist Attractions That Are Overrated 12 Countries That Are Underrated Traveling Experiences You’d Enjoy![]() Perhaps, you want to avoid visiting the same old tourist traps and following the crowds. If you are looking for new and exciting adventures that will leave you with unforgettable memories, look no further. From stunning mountain landscapes to vibrant cultures and delicious cuisine, these destinations are the getaways you never knew you needed. 12 Countries That Are Underrated Traveling Experiences You’d Enjoy 15 Outstanding Things to Do in Peru![]() View the mountain's rainbow-colored minerals, experience the traditional Peruvian poncho's woven texture, and enjoy the charming song of the Amazon rainforest and its creatures. Yes, you read that right—home to 75% of the world's alpaca population and some of the greatest spectacles ever seen! Peru's Amazonian rainforest is gradually gaining popularity as a popular tourism destination for all people. The country, perhaps one of the coolest in the world. 15 Outstanding Things to Do in Peru Via https://thefrugalexpat.com/european-tourist-traps/ Have you ever encountered something online and thought, “Who in their right mind would pay for that?” Well, we've done some digging and compiled a list of the most outrageous things that people pay for. In this blog, we will share the shocking truth about all these outrageous items, from cake made out of gold to a lifetime supply of pasta. 1. Gold-infused Cakes![]() Believe it or not, some people will shell out big bucks for a cake infused with gold. These extravagant desserts can cost anywhere from a few hundred to several thousand dollars and are often served at high-end events or weddings. While the gold doesn't add any flavor to the cake, it certainly makes for a visually stunning presentation. 2. $100,000+ on Plastic Surgery to Look Like a Celebrity![]() Some people are taking their love for celebrities to a new level by spending over $100,000 on plastic surgery to look like them. From getting nose jobs to lip fillers, these individuals will go to great lengths to achieve their desired celebrity look. However, this trend has raised concerns about the impact of social media and unrealistic beauty standards on our society. 3. Designer Air in a Can (Yes, You Read That Right)![]() We don't know if you are aware of this not, but yes, you can eventually buy air which we all have been using for free since birth! Designer air in a can is exactly what it sounds like – high-quality air from around the world that has been bottled and sold for upwards of $20. It might sound ridiculous, but apparently, some people are willing to shell out extra cash for “better” quality air. 4. Bottled Water for Pets![]() It's no surprise that pet owners are willing to do whatever it takes to make sure their furry friends are happy and healthy. Still, the latest trend of buying bottled water specifically tailored for pets definitely raises some eyebrows. These waters can often cost up to five times more than regular tap water and offer no real benefit to your pet. While they might be marketed as having special vitamins or minerals, in reality, these waters are just regular water with a hefty price tag. 5. A Lifetime Supply of Pasta![]() No one loves pasta more than Italians, but it turns out that some people even love it enough to pay for a lifetime supply! Yes, you read that right – there is actually a company out there that will provide you with an unlimited amount of pasta for the rest of your life. For around $10,000, you can get a lifetime supply of various types of pasta shipped to your door every month. We're not sure if this is worth the hefty price tag, but hey – if you love pasta that much, go for it! 6. Customized Pillows![]() The idea of customizing your own pillow may seem strange, but apparently, some people are willing to pay hundreds of dollars for the privilege. These high-end pillows can be customized with a variety of materials, from luxurious satin and faux fur to velvet and even personalized embroidery. Whether you want a pillow for decoration or for comfort, these customized pillows can cost up to $500 – and that's just for one! 7. Single Parking Spots![]() If you thought paying for a lifetime supply of pasta was outrageous, wait until you hear this – some people are willing to pay up to $400,000 for a single parking spot! Yes, it's true – some spots in New York City and other major cities can cost that much due to their desirable location. So if you ever find yourself in need of a parking spot, don't be surprised if you end up shelling out quite a bit for it! 8. Caviar![]() Want to have something fancy for dinner? Well, you might want to check out some of the most expensive caviar available – which can cost up to $1,000 per jar! Caviar is basically fish eggs, and it is usually served as an appetizer or a garnish. While it may not be everyone's cup of tea, some people enjoy the rich flavor and smooth texture. It might cost you a pretty penny, but caviar is definitely worth considering if you're looking to splurge on something fancy! 9. Paying Someone to Wait in Line for You (up to $1,000 per Hour!)![]() Yes, you heard that right! For those of us who hate waiting in lines, a service will pay people to wait in line for you – up to $1,000 per hour! The service is offered by companies such as TaskRabbit and Postmates. All you have to do is specify what you need to be done (wait in line for a concert, restaurant, etc.), and they will find someone to do the job. So if you've ever wanted to skip the lines without having to wait them out yourself, now is your chance! 10. Diamond-encrusted Dog Collar![]() Some people go insane when it comes to their pets! A well-known example of this is the diamond-encrusted dog collar that was recently put up for sale in China. This extravagant item can cost $10,000 up to $30,000 and is designed for luxury-loving pet owners who want to give their furry friends the best. But the main question is, do the dogs enjoy it? Only the dog would know! 11. Pokemon Cards![]() If you were a 90s kid, there is a good chance that, at some point, you collected Pokemon cards. Those same cards can now fetch a fortune on the collectors' market – with some rare ones going for up to $100,000 or even millions! There are people who like to collect these cards and make a living by trading and selling them. It may sound crazy, but it's actually true. 12. Luxury Tents for Cats![]() Cat lovers are willing to do almost anything to make their cats happy. That includes spending hundreds of dollars on luxury tents! These tents are designed with your cat's comfort in mind, and they can cost anywhere from $1,000 to $10,000. They usually include features such as a hammock, scratching posts, heated beds, and even a mini-fridge for food storage! Stop Spending Start Saving![]() It's safe to say that some people have interesting spending habits. While some of these purchases may seem ridiculous to us, they hold value for others. Whether it's for status, novelty, or sheer enjoyment, these 12 items show that people will pay a premium for just about anything. It's truly amazing what people are willing to pay for! 14 of the Biggest Wastes of Money According to an Online Forum![]() People all around the world waste money. It happens to us, maybe we have buyer’s remorse on an item, but it happens. Searching for some of the biggest wastes of money, an online forum had tons of responses, and here are the 14 biggest wastes of money. 14 of the Biggest Wastes of Money According to an Online Forum 12 Wasteful Spending Habits Keeping You Poor![]() It's well-known that saving money is an integral part of achieving financial stability. However, in today's consumer-driven society, it's easy to fall into the trap of wasteful spending habits that can keep you broke. 12 Wasteful Spending Habits Keeping You Poor 10 Frugal Habits That Are a Total Waste![]() Are you looking to save money in your household but unsure where to start? If so, this list of ten frugal habits is for you! We've all heard about taking small steps toward saving money and cutting back on unnecessary expenses. While some of these recommendations are sound financial advice, many can be a waste of your time and energy. 10 Frugal Habits That Are a Total Waste Via https://thefrugalexpat.com/ridiculous-things-people-actually-pay-for-strong/ Society creates rules and regulations on how people should live, but only some things we do are as bad as it seems. There are many things that society may deem incorrect, wrong, or even taboo, and we should correct ourselves. These items are better than they seem. 1. Making MistakesMaking mistakes is okay; choosing not to learn from them is a mistake people may make. We learn from our mistakes and strive to get better. Society should allow us to make mistakes and get better from them. 2. Admitting You Don't Know Something.“I'm a gen X and I have always been under the mantra if I don't know the answer I will find it.” -anonymous- Many people fear that they may not know something and could make a mistake or fail. It has been seen in the workplace, where some people are expected to know all. It is okay only to know some things if you can go and find the answer. 3. Failing“Trying is the first step towards failure” – Homer Simpson. Trying is the best thing to do to learn something. You must try to learn from your actions. So do not let the naysayers put doubt in if you fail. Try, try, and try again. 4. Having Disagreements.Totally normal to disagree with people. It's even more normal to disagree with your friends and remain friends. Disagreements help create good communication, learn various viewpoints, and enhance a relationship. People do not want to live in an echo chamber. It is better to learn from others. 5. Doing Things Alone“Enjoying a meal on my own time, people watching, reading while I eat. That's part of why I enjoy Paris; they seem to embrace this mentality more than in the U.S.,” said an anonymous poster. Doing things alone is cool. It shows independence, and sometimes people need alone time. It is good for the soul and learning from doing things by yourself. 6. Politicians Changing Their Minds When Presented With New Information.Most people accept that we live in a quickly changing world where new information always becomes available. We all hold a small computer in the palm of our hand. The world constantly evolves, so we should expect our leaders to grow. We should expect our leaders to have different opinions and thoughts than they did 5, 10, or even 20 years ago. 7. Admitting You Were WrongIt is hard to admit you are wrong, but sometimes new information is available to us; therefore, we can see that we made a mistake or were wrong. Many of us must let our pride go and admit it and move on. It is not harmful to realize you are wrong. It takes a stronger person to admit they were wrong instead of holding on to something for too long. 8. Sticking Around Through Hard Times“A problem that is fixable should be worked on because it might lead to something truly good.” by an anonymous poster. Hard times can test our limits. If something is fixable, work hard to make it work, and the good will come out afterward. Those that quit too early may miss out on something special. 9. Not Working 24/7 or Participating in the “Hustle Culture”The only thing that matters is what you do with the time you're working. People can be successful by working their 9-5 job. You do not have to be hustling all the time to show pure success. So work hard at what you can and make the most out of it. Via https://thefrugalexpat.com/things-society-considers-to-be-bad/ Your credit score plays a significant role in your personal finance, allowing you to access different loans and credit cards. Unfortunately, many people struggle to keep their credit scores high, and it leads to higher interest rates or even being denied credit. If you are facing the same problem – you are not alone – thousands of people struggle with their credit scores. Fortunately, there are some simple and surprisingly effective ways to boost your credit score. In this article, we will share the top 5 surprising ways to boost your credit score and achieve better financial health. What is a Credit Score?Before we jump into the solution, let's first revise the basics – a credit score is a numerical representation of your financial record, which impacts your ability to access different loans and credit cards. Most lenders and credit card issuers use your credit score to decide if they will approve or deny your application. The most common type of credit score in the US is the FICO (Fair Isaac Corporation) Score, which ranges from 300-850. Simply put, the higher your credit score, the more likely lenders will approve your applications. How do Credit Scores Work?Lenders mainly use 5 types of credit scores to evaluate your creditworthiness. 1. Excellent Credit Score: 750-850 2. Very Good Credit Score: 700-749 3. Good Credit Score: 650-699 4. Fair Credit Score: 600-649 5. Poor Credit Score: 300-599 These scores are based on your
It would be best to remember that credit scores are not static – they can change over time, depending on how well you manage your finances. Top 5 Ways to Boost Your Credit ScoreNow that we know one or two things about credit scores let's find out how you can boost your score fast. 1. Keep Your Credit Utilization Ratio Under 30%Credit utilization is the ratio of your current outstanding credit to your total available credit. Keeping this ratio under 30% can help you significantly improve your credit score by showing lenders that you are not over-utilizing the existing credit. This means anytime you go shopping or make a purchase using your credit card, try to stay close to the 30% mark. If your credit utilization ratio is higher than 30%, your lender may think you are not managing your finances properly, which will harm your credit score. For example, if your credit limit is $20,000 and you have an outstanding balance of $6,000, your credit utilization ratio will be 30%. This means if you spend less than $6,000 on your credit cards, you can maintain a healthy ratio and improve your score over time. 2. Review Your Credit Reports CarefullyIt's not a secret that sometimes mistakes can occur on your credit report, and if you don't review them properly, it may hurt your score. Your credit reports include late payments or overdrafts that could be reported incorrectly. So, make sure to check out your credit report at least once every quarter to see if there is anything that needs to be changed or updated. This will help you keep your credit score high and prevent identity theft and other serious issues. For free, you can easily download your credit reports from websites like Experian, TransUnion, and Equifax. 3. Pay Your Bills on TimeThe most effective and easiest way to boost your credit score is to ensure you pay your bills on time. Your credit score heavily depends on your payment history; when you miss a payment, it can drastically impact your score. It could be anything from your rent, electricity, phone, or credit card payments. One late payment can stay on your report for as long as 7 years, so make sure to pay all your bills promptly. Most lenders take late payments very seriously, and it is one of the most critical factors when evaluating you for a loan or credit card. The best thing you can do is set up a reminder or automatic payment system to ensure you don't miss any payments in the future. 4. Don't Apply for too Many Credit CardsIt's not a secret that applying for multiple lines of credit all at once can harm your score. Every time you apply for a new card, it will trigger a hard inquiry, which will stay on your credit report for up to 2 years. This will lower your score and make it easier for you to get approved for loans or more cards in the future. Also, the more credit cards you have, the more likely you are to overspend, which can lead to more debt and lower your score. Also, if you have multiple credit cards, your lenders might think that you need too much credit to manage your finances. It is a huge red flag for lenders and will show them that you are not correctly handling your finances. 5. Don't Close or Cancel Your Old AccountsYour credit score is largely determined by the age of your accounts or how long you have had active lines of credit. In simple words, lenders will look at you more favorably as a borrower if your accounts have been open for a longer time. Do not close the old credit accounts you're not using – they will remain on your credit report. If you close them, it would lower your available credit and increase your credit utilization ratio. That could decrease your score, leading to higher interest rates and other unattractive loan terms. Final ThoughtsSo there you have it! These are 5 simple ways that can help you keep your credit score high. With some dedication and discipline, you can easily maintain a healthy credit score. A higher credit score will help you get favorable loan terms and help you achieve your financial goals. So start implementing these tips today and get on the right track to financial success! Good luck! Via https://thefrugalexpat.com/credit-score-boosters/ Vanguard has been revolutionary in the creation of low-cost funds for investors. They were the first to create the index fund and then started to develop low-cost ETFs to compete with companies like Blackrock, which owns iShares ETFs. As you can see, you can choose from many different Vanguard ETFs. These three Vanguard ETFs are some of the highest-performing ETFs, and with a good amount to them, you can take advantage of the high performance to reach millionaire status. VTI: Vanguard Total Market Index Fund ETFVTI is the first Vanguard ETF ever created with its popular VTSAX index fund. VTI tracks the total market index allowing investors to have a piece of every company on the U.S. stock market. It does have a high concentration of the S&P 500, making it track closely to the S&P 500, but it has a minor concentration in small and mid-cap stocks as well. Allowing this diversity to help grow your money even more. If you want to grow your money with a simple all-in-one ETF, then VTI would be a great ETF to make that happen. Over the last ten years, it has averaged 11.81% and a dividend yield of 1.58%. The average in the previous 15 years has been around 8.93%, beating the S&P 500. So it will take about 19 years to hit million dollars if you invested $20,000 a year at 8.93%. That return also accounts for crashes in 2008, the covid impact, and 2022. So good of a recovery in a long period. Past returns do not indicate that future returns will be the same, so it would be best to use a more conservative rate of return, but as you see, VTI has done well for the last couple of years. It is hard to beat. Related: VOO vs VTI, Which ETF Would You Choose? VUG: Vanguard Growth Index Fund ETFVUG is a growth ETF that seeks to track the performance of the CRSP US Large Cap Growth Index. It is a great ETF that invests in growth companies like Google, Amazon, and Tesla. It is mainly compared to ETFs like QQQ. VUG has been averaging 13.16% returns over the last ten years. In the previous 15 years, it has an average return of 10.06%. With a low expense ratio of 0.04%, it is a cheap ETF to hold compared to QQQ, which has an expense ratio of 0.20%. If you want to make a million dollars off of VUG, it will take 18 years to use the average of 10.06% and invest $20,000 per year. So that is one year sooner than using VTI as your ETF. With a growth ETF, there will be more volatility in the market. Many growth companies could go belly up or skyrocket to the moon. The Dotcom Crash of 2000 saw many growth companies go to zero, and in 2022, you saw many companies on the Nasdaq crash down as well. If you have a long time horizon investing in VUG can help you reap the rewards of buying and holding. VGT: Vanguard Information Technology ETFVGT is a Tech ETF that seeks to track the MSCI US Investable Market Information Technology 25/50 Index. VGT and QQQ are the top growth and tech ETFs out there and have been competing with each other to see which is better. VGT invests in companies like Apple, Microsoft, Visa, and Texas Instruments. Many other technology companies help make this ETF a high-return ETF. It has 367 different companies and an expense ratio of 0.10%, making it much cheaper than QQQ. If you are looking for a suitable Vanguard ETF that will help push you to a million dollars, VGT is one of the best choices. Over the last ten years, it has averaged 18.66%. In the previous 15 years, it had a CAGR of 13.48%. If we invest $20,000 for the next 15.5 years, you will hit a million dollars by investing with VGT. Final Thoughts:ETFs will also go up and down as markets go up and down. So it is always best to diversify your investments. If you invest in one or even all of these ETFs, you can hit a million dollars within the next 20 years by investing $20,000 a year. Investing takes time, patience, and continuing to invest money. These Vanguard ETFs can help make it happen. Via https://thefrugalexpat.com/vanguard-etfs-for-a-comfortable-retirement/ If you are thinking of investing simply, look no further; invest in an index fund. That may sound too simple to most folks. Financial advisors, relatives, and many others have their views. Some believe that individual stocks are the way to build wealth, and others believe that actively managed mutual funds can win. If you are tired of analyzing stocks or allowing someone else to manage your portfolio, start with index funds like VTSAX or VFIAX. Some of the best index funds on the market that we can compare are VTSAX vs VFIAX. The Index FundThe index fund is considered “Bogle’s Folly.” The legendary Jack Bogle, the creator of Vanguard, created the first index fund called VFINX. It tracked the S&P 500 and gave average investors the key to building wealth simpler. As the index fund market grew, so did the types of index funds. The Vanguard Group has created diversified index funds to help people win. Vanguard index funds are some of the best index funds on the market. They are tax-efficient and have a long history of excellent performance. Fidelity has some good index funds as well. They created some zero-fee funds a couple of years ago. Creating a portfolio that will outperform the market is not an easy task. Matching the market through indexing allows you to have a diversified allocation that can be used as a passive investing strategy. You may wonder which one is the best. JL Collins, the author of “The Simple Path to Wealth,” would say VTSAX is the best. Like Warren Buffett, he believes that one that tracks the S&P 500 would be the best, like VFIAX. So let’s see which wins in the index funds battle. VTSAX vs VFIAX. Let’s see which one is the best. VTSAX Overview:The Vanguard Total Stock Market Index Fund (VTSAX) is a total stock market index fund that tracks the entire market of the U.S. stock exchange. It follows the CRSP US Total Stock Market index. It is comprised of around 4000 different companies. This may fluctuate between 3500-3800 companies depending on which companies survive and which ones dissolve with history. The index fund does a great job of exposing the entire market. Here are the top 5 sectors of the fund:
The Top 10 companies that occupy 23.90% of VTSAX:
Over the last ten years, VTSAX has had a great run. It has averaged about 16.09%, an excellent run for the previous ten years. As you continue investing your money, you should expect it to grow. To make this fund even more popular, Vanguard created an ETF that goes along with it. This ETF is VTI. If you want to learn more about the differences and similarities, here is an excellent article on VTI vs VTSAX. When looking at index funds, this one cannot go wrong. It is full of many companies creating good diversification and excellent financials showing positive growth over the last ten years. VFIAX OverviewVFIAX is a bit different. VFIAX is the Vanguard 500 Index Fund Admiral Shares. This is the admiral shares part of VFINX, the first index fund. This index fund tracks the S&P 500. The top 500 companies in the U.S. are a part of this index fund and weighted by the same weight as the S&P 500 weighs these companies. Warren Buffett is a great fan of this fund because it allows you to have exposure to the best of the best when talking about companies in the U.S. The index fund does a great job of exposing the entire market. Here are the top 6 sectors of the fund:
The Top 10 companies that occupy 29.20% of VFIAX:
After looking at some of these numbers, you already see a difference between VTSAX vs VFIAX. Some things are weighted higher on VFIAX. VFIAX also has the ETF VOO. VOO competes with many other ETFs like VUG and VTI. I would say VUG vs VOO would be comparing two of the most popular ETFs around. One is growth, and one is the S&P 500. As ETFs are growing in popularity, and VOO is an ETF to invest your money into. VTSAX vs VFIAX: The Similarities Between the TwoThese index funds are pretty similar, and there are many similarities between these two index funds. Investment Style:They are large blend index funds comprised of a large percentage of large-cap stocks and growth stocks. They have a low expense ratio which is 0.04%. This allows them to keep costs to a minimum for their investors. Most mutual funds have much higher expense ratios, which could be anywhere from 0.50%-2%. Having huge savings on expenses is excellent for the investor. Minimum Investment:VTSAX vs VFIAX are both admiral shares versions of index funds in Vanguard. A while back, Vanguard broke up different index funds into investor and Admiral share funds. They have stopped selling the investor share funds and have focused on selling the Admiral shares. Admiral Shares have:
These admiral shares have also lowered the expense ratio from a 0.14% to 0.04%, as seen with VTSAX and VFIAX. Top 10 Holdings Are SimilarThey both have the same top 10 holdings comprising over 20% of the portfolio. VFIAX has a different bottom three companies as the order is moved up a bit, but these funds have the same top 10 holdings. They Have ETF EquivalentsAn ETF is an exchange-traded fund. So the index fund can be traded like a stock market stock. The index fund cannot and can only be traded at the end of the day when all trading occurs. VTSAX = VTI VFIAX = VOO Suppose you want to learn more about the differences between VOO and VTI. Here is a good article. VOO vs VTI: Which One Would You Choose? The Differences Between VTSAX vs VFIAX:Composition:VTSAX is made up of about 3500-4000 different companies. It tracks the large caps, but it also has mid and small caps as a part of the portfolio. This allows more diversification within the portfolio. VFIAX is made up of the top 500 companies in the U.S, and it is a subset of VTSAX. So the S&P 500 happens to be some of the largest companies in the U.S. they comprise about 75% of VTSAX. Since these are both Large blend index funds, they generally are comprised of the same companies and are close to the same weight. VTSAX has 25% of its portfolio in small and mid-cap stocks. Performance Differences:Since both of these are composed of similar companies, their performance happens to be similar. It all depends on the year. In some years, the VFIAX is up, while VTSAX may be higher in others. VTSAX: 1 Year: 44.06% 3 Year: 21.67% 5 Year: 18.93% 10 Year: 16.09% VFIAX: 1 Year: 42.88% 3 Year: 21.44% 5 Year: 18.89% 10 Year: 16.18% ![]() The overall performance has been quite similar, but new companies will start in VTSAX and later move onto the S&P 500. Tesla just got into the S&P 500 in December of 2021, and they are now one of the largest companies on both indexes. If you take a more extended look at the overall performance, you will see that VTSAX has outperformed in the long run. Since its inception, it has gone up 8.56% on average, and VFIAX has grown an average of 8.08%. As I look at this, it is hard not to choose VTSAX, but this is my opinion alone. VTSAX vs VFIAX: Which One Should You Choose?VTSAX holds every public company on the U.S. stock exchange, giving you more diversification by adding mid and small-cap stocks. This can be a hard choice. As you think about it, what would you instead choose? VFIAX only holds the 500 companies. The answer is simple to me at this point, but you will have to choose for yourself. Both Index funds are significant to invest with. They are some of the best index funds out there, with a low expense ratio of 0.04%. Their ETFs can give you an entrance into the market with a lower threshold. As you can see, their performances over the long term are hard to beat. Whichever you choose is not going to be a wrong choice at all, and it will help you create wealth and keep your investing simple. Final Thoughts:Investing is not always an easy task. Picking between VTSAX vs VFIAX is not an easy task either. So the choice is yours on if VTSAX vs VFIAX works for you. When trying to make investing simple, choose an index fund that works. I like buying-and-hold index funds and allowing them to do the heavy lifting for me. So, picking one will leave you a winner. I will go with VTSAX, but either one will help you build wealth. Which one would you choose? VTSAX or VFIAX Related Posts:
Via https://thefrugalexpat.com/vtsax-vs-vfiax/ Many people long to live in Europe but are discouraged by the high cost of living there. European cities like Frankfurt and London are among the priciest places to live. Even on a tight budget, you can live in Europe if you search outside of the main cities and most well-known tourist attractions. There are hidden gems like the cities listed below throughout Europe that let you live more opulently and stretch your euro further while still taking in some of the most stunning towns on earth. The rating indicates that European towns continue to have one of the finest quality of life in the world and are still the top choices for expats, with German and Swiss cities ranking among the most liked worldwide. If you are moving anytime sooner within Europe, consider one from this list of thirteen cities. 1. Munich, Germany![]() Munich has something for everyone, whether you want to unwind with a locally brewed beer or listen to upcoming performers at a festival. Germany's second most visited city, after Berlin, is Munich. One yearly event, Oktoberfest, attracts more than seven million people to its beer tents alone. But Munich is not only about beer and pretzels. There are many reasons why this place is among the European cities that offer high quality of life. Around the city are numerous stunning monuments and museums. Additionally, it is the ideal starting point for visiting southern Germany's numerous Alpine lakes. 2. Vienna, Austria![]() From 2009 through 2019, Vienna was consistently ranked as the finest city in the world to live in by Mercer's quality of living survey. It boasts many green areas, affordable, effective public transport, a very low crime rate, and is in an excellent place geographically because it is in central Europe. With a low crime rate, Vienna is very safe. In case you weren't aware, the city is also well known for its cuisine and wine. There are numerous benefits to considering moving to Vienna. In addition, Vienna's strategic location makes it simple to reach many of Europe's most important cities in a few hours. 3. Belgrade, Serbia![]() Belgrade is a developing and underappreciated city in Serbia that provides many of the facets of the European lifestyle that nomads desire while still having a very inexpensive cost of living in comparison to the rest of the continent. We consider Serbia to be one of the most underestimated nations for ex-pats to live, and many people who visit Belgrade and take advantage of the city's many outdoor cafés, stroll through its cobblestone streets, interact with the kind residents, and explore the surrounding area will say the city truly attracted their eye. If you want to get the most for your money and experience the best of Europe, you should pay attention to the Balkans! 4. Zagreb, Croatia![]() Zagreb, the capital of Croatia, an EU member state, is another place worth considering for obtaining excellent value and leading a nomadic European lifestyle close to Serbia. You can use Croatia, a non-Schengen nation, as part of your plan to travel around Europe for an extended period while alternating between Schengen and non-Schengen nations. Expats in developing countries frequently enjoy lower living expenses, more access to economic opportunities, and a growing network of nomads and like-minded individuals, giving them the best of both worlds. In light of all the recent tourist interest in Croatia's coast and islands, Zagreb is a city that somewhat slips under the tourist radar. Don't overlook, nevertheless, what this former Yugoslavian capital has to offer in terms of culture, accessibility, and affordability to other significant European cities. Croatia deserves a spot on a nomad's list if looking for a pleasant lifestyle, despite being slightly more expensive than its neighbors in Serbia, Macedonia, etc. 5. Lisbon, Portugal![]() Although Lisbon has never experienced the high cost of living that other European cities have, it does have a warmer climate and a more relaxed way of life. The city is one of the greatest European cities for value and has a reasonably low cost of living, even though Portugal might not be the best spot to start a business because things move a little slowly. Portugal, which has everything: affordability, safety, entertainment, openness, accessibility, a nomad-friendly environment for doing business and getting second residency in the EU, and the potential to pay zero income tax with non-habitual residence, is a country that ranks top on the list of affordable cities. 6. Geneva, Switzerland![]() Geneva has many parks, and visiting one in the summer feels like entering a tropical paradise. It is a fantastic place to live in for a variety of reasons. With its spectacular lakefront location and vistas of the Snow-capped Alps, it is, first and foremost, one of the most beautiful cities in the entire world. With a diversified population and a wide variety of cultural events available, it is also a fairly cosmopolitan city. The quality of life is another factor to consider. Due to its low crime rate, first-notch infrastructure, and high standards for both healthcare and education, Geneva consistently ranks as one of the world's most livable cities. Even though it's a small city, there are many things to do, such as free music performances, lake cruises, art shows, and film and music festivals. 7. Edinburgh, Scotland![]() Edinburgh is a small, welcoming city with a wealth of amazing attractions. It is ideal for tourists or newbies because it has historical sites and hospitable residents. Scotland is a beautiful country to explore, and Edinburgh is a fantastic city. It is only a few hours away from the Scottish islands. You may go to some of its cutest towns or the islands off the northwest coast, such as the Isle of Skye, among the most incredible places to go on a road trip. 8. Dublin, Ireland![]() Dublin is one of the happiest cities to live in, which makes sense given that Irish people are among the most entertaining and hospitable you will ever encounter while traveling. Living here will be an experience you'll never forget because of the city's old architecture and the history that can be learned about everywhere in this small Irish capital. Dublin is both a party and a tourist destination, so save some time in the evenings to sip on some local beer and take in some fantastic live music! 9. Stockholm, Sweden![]() Stockholm has a lot to be proud of, including an amazing work-life balance, some of Sweden's best fika breaks, and a welcoming community for raising a family. However, as a city spread across 14 islands and encircled by waterways, it also serves as a starting point for some of the most breathtaking hiking in the country. In the city's 26 parks, stay-at-home dads frequently push strollers on weekdays. Stockholm is a progressive city that pioneers gender equality. Buses are free for parents pushing strollers, and there is a monthly stipend to help with the cost of rearing kids up to the age of 16. 10. London, United Kingdom![]() The capital, London, is acknowledged for being one of the most popular and exciting cities in the world. It is the biggest in the UK and has the most diversified communities, lively scenes, and the largest area. Since a long time ago, London has ranked among the top financial centers in the world and is famous for its technological advancements. The streets of this mega city are lined with some of the best eateries, bars, and coffee shops in the globe. When it comes to leading a healthy lifestyle, looking for a job, and taking in peaceful environs, London is unquestionably the greatest option in the UK. The city provides you with many possibilities to learn, develop, and gain experience. It is the center of economic growth in the United Kingdom. However, as the population has remained constant for many years, there is fierce competition for jobs if you move to this lovely city without clear work stability. But when it comes to the booming trend of co-working spaces, London stands out. You'll never get bored in London, we wager! 11. Baku, Azerbaijan![]() The largest city on the Caspian Sea, which separates Europe from Asia, is Azerbaijan's capital city. It is the lowest-lying national capital in the world because it is 92 feet below sea level. Given that Baku is known as the “Paris of the East,” you better expect that its architecture is stunning, fusing elements of the Old City with contemporary buildings that make up Baku harbor. If you're looking for history, go to Baku's Inner City, recognized as a UNESCO World Heritage Site, along with Shirvanshah's Palace and Maiden Tower. The city's more modern area provides a place for merriment, making it a fantastic location for urban nightlife. 12. Tbilisi, Georgia![]() Georgia, another country at the nexus of Europe and Asia, is situated to the east of the Black Sea, with Tbilisi serving as both the nation's capital and largest city. A city with deep origins established in the fifth century A.D. has long served as a hub for trade, especially given its closeness to the Silk Road. It is an ethnically diverse town with more than 100 distinct ethnic groups due to its central location, making it a highly welcome place for those who visit. As a result, there is a wide variety of architectural styles present all around. To Wrap Up![]() The twelve above-stated European cities are the best if you plan to move. The standard of living, affordability, and incredibly beautiful tourist sites are a reason for their fame. Choose one that fits your criterion and plan to reside there. More Articles From The Frugal Expat![]() Traveling to Europe is usually more expensive for frugal travelers. The cities have higher costs than those countries in South East Asia in which you can live on pennies. Europe does have a variety of affordable cities to visit. Here are the 16 cheapest cities in Europe to visit for frugal travelers. The 16 Cheapest Cities in Europe to Visit for Frugal Travelers! Top 10 Countries to Retire Abroad For Americans![]() As the population ages in America and many retirees have money to spend, they are looking for ways to enjoy life. Many retirees have been looking in other countries to live it up as they see more affordable countries to live in. Countries are taking notice of this influx of American expats and have been creating incentives to attract more retirees. Top 10 Countries to Retire Abroad For Americans Discover the Top 15 Safest Countries in the World![]() A safer world is a priority for many people, such as travelers, those with families, and all sorts of others. Many countries are safe to travel to and to live in, with strong economies, laws that prevent gun deaths, and political stability. So let's look at a list of some of the safest countries in the world to live in or to travel to. Discover the Top 15 Safest Countries in the World 10 of the Most Dangerous Countries for Americans To Travel![]() Traveling can be an exciting and enriching experience. However, being aware of the potential dangers and risks involved is critical. While some countries are relatively safe for Americans to travel to, others can be dangerous. 10 of the Most Dangerous Countries for Americans To Travel Via https://thefrugalexpat.com/european-cities-that-offer-the-high-quality-of-life/ Money is an essential part of our lives. Whether we like it or not, it's a subject that we have to deal with regularly. But how much do we know about money etiquette? Did you know that certain money habits could be considered rude? You may not even realize that you have been guilty of them! In this blog post, we will explore 10 rude money habits you may have been unknowingly committing and what you can do to avoid them. So, let's dive in and learn some valuable lessons on handling money with grace and respect. 1. Not Paying Back Borrowed Money on Time or at All![]() Failing to pay back borrowed money on time or at all can be considered a rude money habit because it shows a lack of consideration for the lender's financial situation. Borrowing money can create an obligation, and not fulfilling that obligation can damage relationships and lead to financial stress. It is essential to maintain transparency and communicate any issues related to repayment in advance to avoid misunderstandings and maintain healthy financial relationships. 2. Constantly Complaining About Being Broke![]() Everyone has that one friend or family member who is always talking about being broke. While sharing your financial woes with those close to you can be understandable, complaining constantly can come off as rude and insensitive. Remember that everyone has struggles and financial issues that they may be dealing with, so it's essential to be mindful of how often you bring up your financial struggles. It's better to make your situation more relatable by talking about money positively, such as asking your friends or family members how to create a budget or save money. 3. Expecting Others to Cover Your Expenses![]() It's great to have friends and family willing to lend a helping hand when times get tough. However, constantly expecting others to cover your expenses is rude and unfair to them. Whether borrowing money without the intention of paying it back or always assuming that someone else will pick up the tab, this behavior can strain relationships and create resentment. So, let's be mindful of our financial obligations and not burden others with our expenses. 4. Talking too Much About How Much Money You Have or Make![]() It's important to be proud of your accomplishments, including financial success. However, constantly discussing how much money you have or make can be insensitive and obnoxious. It's understandable to want to share the good news with friends and family, but flaunting your wealth can create feelings of discomfort and envy. Instead, let's focus on building meaningful connections without making money the centerpiece of our conversations. Remember, there's more to life than just the size of our bank accounts! 5. Being a Bad Tipper or Not Tipping at All![]() Whether you're at a restaurant, getting a haircut, or receiving any other type of service, it's common practice to leave a tip to show appreciation for a job well done. Being a bad tipper or not tipping at all is rude and can harm the livelihoods of those who rely on tips as a significant portion of their income. So next time you receive good service, remember to show appreciation by leaving a reasonable tip. It's a small gesture that can mean a lot to someone else! 6. Not Respecting Other People's Financial Situations![]() It's important to remember that everyone has their financial situation and challenges. Not respecting other people's financial situations can come across as insensitive and can create unnecessary tension or conflict. Whether constantly suggesting expensive outings or making assumptions about someone's ability to afford certain things, it's essential to be mindful and respectful of others' financial circumstances. Focus on building inclusive and supportive relationships that consider everyone's unique financial situation. 7. Asking Intrusive Questions About Someone's Income or Financial Status![]() Asking intrusive questions about someone's income or financial situation can make them feel uncomfortable and defensive. Whether you're curious about how much money someone makes or how they can afford certain luxuries, it's best to avoid asking personal financial questions altogether. Instead, Focus on getting to know each other beyond our bank accounts and building genuine connections based on mutual interests and values. 8. Using Coupons or Discounts Inappropriately![]() Coupons or discounts can be a great way to save money and get more for your buck. However, it's essential to use them appropriately and as intended. Using an expired coupon or a coupon for a different item than specified can be seen as dishonest and disrespectful to the store or business offering the discount. Plus, it can also cause issues for other customers who may need help to be able to use the same discount in the future. So, let's make sure we're using coupons and discounts responsibly and only as intended. 9. Not Sticking to a Budget When Going Out With Friends![]() Going out with friends is always fun, but it's essential to be mindful of your budget. Not sticking to a budget when going out with friends can cause unnecessary stress and financial strain. It's okay to say no to expensive activities or suggest more affordable alternatives that everyone can enjoy. By communicating openly and honestly with your friends about your financial situation, you'll be able to find a balance that works for everyone. Ultimately, spending quality time with friends should be about the experience, not the price tag. 10. Not Offering to Split the Bill Evenly When Dining out With Friends![]() When dining out with friends, it's essential to consider everyone's budget and financial situation. Not offering to split the bill evenly can create awkwardness and tension, especially if some people order more expensive items than others. By suggesting splitting the bill evenly, you can ensure that everyone is paying a fair share and no one feels left out or taken advantage of. If you're on a tight budget, it's okay to speak up and suggest alternative solutions, such as requesting separate checks or only paying for what you ordered. Check Your Manners![]() So there you have it! There are many ways we can all be more financially conscious and respectful. From being mindful of our spending habits to respecting other people's financial situations, let's remember these tips and ensure we're practicing good money etiquette. By following these guidelines, we can ensure that everyone feels included, respected, and financially empowered. More Articles From The Frugal Expat![]() People all around the world waste money. It happens to us, maybe we have buyer’s remorse on an item, but it happens. Searching for some of the biggest wastes of money, an online forum had tons of responses, and here are the 14 biggest wastes of money. 14 of the Biggest Wastes of Money According to an Online Forum Are You Flushing Your Money Down the Drain? 10 Surprising Ways You’re Wasting Money![]() Money is a tool that can help you achieve your goals, but you must use it wisely. Making money is relatively easier than keeping it! It doesn't matter how much money you make – if you don't know how to manage it, you'll end up wasting a lot of money. 10 Surprising Ways You’re Wasting Money The 10 Things Rich People Never Waste Their Money On – And You Shouldn’t Either!![]() Do you ever wonder why some people are so much wealthier than others? Well, one big reason is they know what not to spend their money on! That's right – wealthy people have a secret that helps them stay rich. They know how important it is to be frugal and budget wisely, which means being very selective about where they choose to put their hard-earned cash. The 10 Things Rich People Never Waste Their Money On – And You Shouldn’t Either! 12 Things Frugal People Spend More To Save More Money On![]() t's always great to save money in the long run. Especially now, with financial times being challenging and more uncertain for many. Sometimes purchasing more products or costlier items can, in fact, save you money. From everyday home purchases to footwear, here are some purchases to save money. 12 Things Frugal People Spend More To Save More Money On Via https://thefrugalexpat.com/rude-money-habits/ |
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