Is Ordering Takeout Wrecking Your Finances?
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Put together a treat at home that you adore. There are a lot of ways to brew high- quality coffee at home the way you love it — and at a price you adore even more. Meet family, friends, and coworkers at a park or for a potluck. Set up weekly or monthly meal staples. Think now and you won’t have to later. It’s time to go recipe hunting! Consider if the total bill amount will fit in your budget, even if you have coupons or other discounts. Always have fast, lazy meal options when the need strikes. There are even healthy options in the frozen food aisles these days!
It’s worth asking yourself if spending hundreds of dollars every four weeks on cafes and restaurants is getting in the way of your financial goals. If not, great! But if you’re worried, then it’s time to ask yourself what you’re craving. Many U.S. adults buy restaurant food for a number of reasons, including: • A treat to get you through your commute or workday
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Statistically speaking, as a U.S. adult, it’s likely that you eat at restaurants five times a week or more, but even if it’s cheap fast food, it might be doing more damage to your personal finances than you think. Data from the U.S. Department of Labor shows that the average American dines out 5.9 times per week and spends about $3,500 on eating out every year. To put it into another perspective, if you spent $15 per meal five times a week, that’s about $300 over four weeks.
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Quality time with family, friends, or coworkers
Outsourced meal-planning
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Save money with a restaurant discount or offer A helpful option when convenience is needed
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You can also re-prioritize your spending, such as choosing to spend on restaurants while out with friends but not ordering food while at home alone. Even though we all love supporting our local restaurants, don’t forget to look out for your own future, too!
Whether you need a break, a window of time to socialize, or want to enjoy the thrill of a good deal, there are definitely ways to meet these needs in a budget-friendly way. Try doing the following:
DON’T MAKE THIS INVESTMENT MISTAKE! A Property Disaster Confession
Not long ago, a friend of mine got involved with a new investment … only to have his head handed to him on a platter! What happened is a cautionary tale for all of us. My guy was interested in getting better returns and wanted to invest in real estate. He was going to invest with me, but he got impatient waiting for “the right deal.” In the meantime, he saw a property on Loopnet.com. It was a two- unit in Kentucky for only $29,000! Yes, $29,000! The property was occupied with tenants paying $600 per month per unit. That meant $1,000 per month in income! The investor felt that at that price, he absolutely could not go wrong. So, he made a fatal mistake: He decided not to inspect the property himself. I mean, it’s just $29,000 — why spend the time? He closed and waited for the money to roll in.
Here’s the lesson, folks: INVESTING ISN’T THAT EASY.
If this property was such a great deal, why did it have to be advertised nationally? Why was it still available? Cheap deals like this come with huge issues. The owners or lenders want to dump them on anyone willing to take over their money, tenant, location, and property problems.
The good things in life (including investments) take time, effort, and energy.
The properties you’ll hear about from me are quality, so qualifying to invest in them takes WORK! Heck, one investor who got in on a nice 144-unit project with me last year waited over nine months for the opportunity. But the wait was WELL worth the returns! Do yourself a favor: Don’t fall for a cheap price. You might think you’ve bagged a winner, but you’ll ultimately be a loser for years and years to come. Take the time to do it right and you’ll save tens of thousands!
Months later, he has yet to see a dime of income. He’s scrambling to find out why and has to fly to Kentucky to deal with the fallout!
Let me tell you, there will be A LOT of fallout. No doubt this easy-to-buy $29,000 deal will turn into his worst nightmare and take three times that money to fix.
2 DARINGARMAN.COM
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