Making Sense of Cents
by Michelle

1.      How can you manage your time despite of being employed and having a blog site at the same time?

At times, it is tough to manage my time and still enjoy life. I think at this point, however, I am just used to it. I have been working full-time while either going to school or having my side jobs for over 10 years now.

A schedule and a to-do list are both really helpful. They both help keep me on task and realize when I need to get things done.

2.      How can we get out of debt from credit cards or loans?

Focus on lowering your expenses and/or increasing your income. There's probably something that you can cut out of your budget. Find it, and cut it out. With increasing your income, there is probably something that you can do. You could find a part-time job, sell things, start a side business, and so on.

3.      Is it possible to retire young and rich? I think it is possible. Of course, it depends on what your definition of rich is as well. If rich means early retirement or financial independence, then yes, I definitely think that is possible.

Start saving young, ramp up your income, and invest in profitable areas. Live below your means and try not keep up with the Joneses!

4.      I have a present loan but I want a new 2nd car, is it recommended to loan again for the 2nd car?

So, does this mean that you would have two new cars just for yourself? If that is the case, I do not recommend that at all if you would be taking out loans for it.

If you are just thinking about buying another car, see if you can get a discount if you pay in cash. If they can't offer you a discount, and the interest rate is 0%, then sometimes taking this is better, as long as you know that you can invest the difference, and not just spend this money.

5.      After college, is it okay to rent a house our loan it?

It depends on the person. We bought our home when we were 20, and wouldn't change a thing! You should determine why you are buying a home. I actually just recently had a post on this: "Is a house right for you".




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