Thinking of Making a Medium-to-Large Purchase? Consider the Hidden Costs First

Before making a big purchase, consider the hidden fees with each. You may think you have enough money to afford the monthly bills, however there are often times many “hidden” costs we forget about.

  • Owning a home – utilities, furniture and ongoing maintenance are hidden costs many forget to consider. You may have enough to make your monthly payments on your home but what about having furniture? Will you buy the furniture all at once or will you tack this on to your monthly payment? Make sure you have a plan before making as large as a purchase as a new home. Other hidden fees to consider: moving expenses, homeowners association fees, landscape upkeep, closing costs, appraisal fees, home inspection, and pest control – just to name a few.
  • Buying a vehicle – this is one of the largest and most common purchases with hidden costs, besides buying a home. Before you decide you have enough to make your monthly car note, don’t forget insurance and other fees – this may seem obvious but some of us do forget! These include: gas (which depending on the type of vehicle, can be up to 50 or 60 dollars a tank and may require filling up weekly), maintenance (oil changes, tires, windshield wipers), batteries and required inspection stickers every year. Inspection stickers average about $15-$20 and oil changes cost about $40 every three months. Continue reading “Thinking of Making a Medium-to-Large Purchase? Consider the Hidden Costs First”

September National Yoga Month

We have discussed before the close relationship between physical health and financial wellbeing. When you are healthy, you spend less on doctor’s visits, medications and much much more! One of the best ways to a healthier mind and body is yoga – and September is national yoga month. Get started by visiting http://www.yogamonth.org/ to learn about yoga day and even look for free yoga classes … Continue reading September National Yoga Month

The Three Costliest Money Mistakes: Week 3 of 3

Last week we discussed why it is important to have an emergency fund set up. Now, for our third and final week we will take a look at why paying your bills late is another costly mistake. Paying your bills late will have more of an effect on your finances than just paying a onetime late fee. As reported in Shape Magazine, paying your bills … Continue reading The Three Costliest Money Mistakes: Week 3 of 3