Are you searching for a new house? The chances are a condo will be much more suited to your style. There are many benefits to opting for a condo over a house. Here are just some of the reasons you need to consider one.

Home Is Relative

Your home is where you decide to call home. You could have a cave and view it as your home, even if it doesn’t have all the space and luxuries that a three bedroom house does. Instead of viewing a house as the only place you can call home, think about what you need from the place. It’s somewhere you can relax and you want to go to after the end of a long day at work.

No Need for Lawn Care

Lawn care is a thing of the past when it comes to condos. You don’t have a garden to have to worry about, and the communal area is usually cared for by the building manager or between all the people living within the condo.

This can be a downside if you have a young family, but there are often parks very close by.

Often Cheaper

Think about the cost of rent or your mortgage. It is usually cheaper when you opt for a condo, because there is less space and it is valued less. You could find that you’re paying hundreds of dollars less each month, which means it’s better for your finances.

If you really want a home at some point, take advantage of the savings right now and buy the dream home instead of one that you have to make do with.

Small Utility Bills

As well as the cost of the condo being cheaper, the running of it usually is. There are usually fewer rooms and a smaller space to heat and light. Yes, the building overall is bigger, but you only have to pay for the electricity, gas or oil used in your smaller space. You’ll also benefit from the heat of the people around you seeping through your walls, meaning you put the heating on less.

Get to Know Your Neighbours

Getting to know neighbours in a street can be difficult. In fact, it can be impossible depending on where you move to. In a condo, you’re likely to see the people going in and out on a daily basis.

It’s going to make it easier to get to know them, make new friends and find people you can rely on. It could really improve your social life.

Less to Clean

Remember the space is smaller. While that offers a downside if you like having more room, it does mean that you have less to clean! There is no need to worry about vacuuming that space that you hardly every use.

Chances are every space is used for something, but the mess will not pile up as much. Smaller spaces encourage you to me more organised on a daily basis.

You need to spend money on items like your gas and electric, but it doesn’t mean you can afford it all the time. The costs of bills are continually rising, but your wage is likely remaining the same. You need to find ways to reduce the cost of your utility bills and here are some tips to get you started.

Use a Hot Water Bottle

Instead of putting the heating on, why not fill a hot water bottle and sit with that on the couch? There are many advantages to this; and not just saving money. You will be able to localise the heat if any muscles need easing and the heat will continue for a few hours, without having to worry about it eating into your pocket.

Add the Layers

If you’re still cold with the hot water bottle, add another layer or two. You could invest in a dressing gown, which is usually warmer than a cardigan, or have blankets for the couch.

If you’re having a day at home on the couch, why not make it a duvet day with the kids and snuggle up to watch DVDs?

Get Out of the House

If you spend time out of the house, you’re not going to use the electricity or gas as much. There’s no need to have things on if you’re not using it.

Spend more hours outside of the house. You could visit friends or get them to meet you at the park or for lunch. Take the kids out for a walk or find some free days out.

Use the Heat from the Oven

When you’ve had the oven on, you won’t realise just how much heat you’re wasting. Instead of closing the door after cooking, keep it open slightly and let the heat leave the oven and enter your kitchen. That will heat some of the surrounding area, so there is less need for the heating to be on.

Turn Appliances Off

If you’re not using an appliance, turn it off at the wall and unplug it. Leaving it on standby is just a waste of money.

The same applies to the lights—turn them off every time you walk in and out of a room. It may seem annoying at first, but you could save hundreds on your bills every year with this one little trick.

Insulate Your Home

Check if the insulation is up to standard. This applies to the in-wall as well as the loft options.

There are various government grants available if you haven’t got the right insulation, due to incentives to keep your heating costs down.

Seal Your Windows

If you have windows that aren’t in use, seal them up. There are always tiny gaps and the heat will escape from them. Another trick is to invest in double-glazed windows. Not only are they warmer, they are also harder to break so your home becomes safer. This helps to cut down on your home insurance costs.

We all tell lies when it comes to money. Some are minor and you can make up for them but others will really harm your future. You need to be truthful about your budget and the outgoings that you have. That is the only way you can save up for that dream house, holiday, wedding or whatever else you have planned. Here are some of the lies you need to stop telling yourself.

It’s Okay to Hate a Job If It Pays Well

The money may be great but is it really worth sacrificing your wellbeing? You need to be happy in every aspect of your life. If your job is something you really hate with a passion, you need to ask yourself whether that good pay is worth the sacrifice.

Of course, loving a job with a low pay isn’t the opposite problem that is really important to consider.

I Can’t Do Anything About that Bank Statement or Bill

Too many people think that the banks and creditors have all the power. That isn’t the case. You could find that negotiating will help you, whether it is clear a current credit card bill or save up for the future.

You don’t get anything if you don’t ask so pick up the phone or put it all in writing and start getting your own way.

As Long as I Pay My Minimum Balance, I’ll Have Good Credit

It doesn’t necessarily work that way. It will depend how much you have on the credit card and the other debts that you have. If you’re constantly using your card because you are living beyond your means, you will find your credit rating is still harmed.

If you have 60% of your maximum allowance available, paying the minimum only can help.

I Need to Get Onto the Housing Ladder

So many people are so focused about getting onto the housing ladder but they fail to think of the downsides to that. Sure, you have more control and you won’t have to think about moving next year but what about the costs for work that needs doing and the full cost of the mortgage?

You need to think about your current debts and lifestyle to determine if this is the best thing for you.

It Doesn’t Matter If I Just Dip Into My Savings

How often have you said that and then a few months later realised you have none left. You may have the intentions of topping it up and only taking a little but it just never works out that way.

The best thing to do is keep your savings separate and never touching them, apart for whatever you are saving up for!

I’m Too Young to Save for a Pension

It’s never too early to start saving up for your pension. It’s best to do it as soon as you start turning 18; even if you don’t know what you want to do.

Give yourself plenty of time to save up plenty of money and life the future that you dream.

Money is something that everyone wants and needs. At the same time, it’s something that a lot of people don’t understand.

A lot of people, in fact, take money for granted—and if they don’t, it’s a matter of not understanding how to manage it. For women, especially, this balancing act of understanding and not understanding money is something that haunts us throughout our daily lives.

Is it possible to… manage money?

A lot of people, particularly women, are balancing their money enough ‘just to survive.’ We think about having enough to pay for the bills, enough to manage our households (whether we’re single or not) and just barely having enough to ourselves.

We haven’t actually thought about the logic or common sense behind managing money while committing to this ‘balancing act.’ We don’t think about the logic since, well, most of us just don’t know much about money management.

It’s true that a lot of us don’t learn money management from a book—it’s strictly a hands-on life skill. Even though we start out learning about money through trial and error, it doesn’t mean we actually can’t start learning the basics now.

Money management basics simply let us learn more about how to manage and eventually earn more money. If we know more about the basics, we can start making more logical decisions about how to handle our money in real life.

The basics of money management – approaching them with logic in mind

Have you ever wondered about what exactly the basics of money management are? The basics of money management are a common hot topic among many financial experts, in addition to people who want to help others manage their finances better.

Budgeting, in fact, is perhaps the bread and butter of money management—to the point that it’s the go-to topic that a lot of experts talk about. The thing is – do a lot of readers actually understand what it means to use a budget?

If you’re just barely making your bills each month, as an example, think about what you actually buy each month. If you’re buying things considered extraneous when compared to important matters (bills, food, living expenses), you’re probably spending more than you need.

Budgets involve balancing a certain amount of funds against the things that use those same funds. So, if you have to put $50 per month toward a credit card bill, you have to have that $50 for that bill each month.

That $50 is your budget for that particular bill. If it’s a part of a $200 monthly credit expense budget, it’s only one part of that budget that you have to maintain, in order to get those bills paid on time.

Another topic that goes hand in hand with budgeting is planning. Without planning, you can’t exactly budget. Even if you have a budget, it’s incredibly easy to get distracted and spend more than you should spend. That’s why it’s important to always have a plan for everything.

Planning can take shape using only a piece of paper and a pen, using money management software or a combination of both. Think of it this way: plans are your road map, budgets are the places you’re visiting—and your actions define how you’re going to get there.

If you take a detour, you won’t reach any of those end destinations—or rather, successfully manage your money.

Money is a worry for many people. Even once you get out of debt, they can be problematic. Setting a budget is important but what happens when you go off track? It’s going to happen every now and then, no matter how hard you try to stick to it. It can seem like getting back on track is impossible but here are some tips to help.

Stop Spending When You Realise You’re Off Track

Do some damage control. As soon as you realise that you’re off your budget, stop spending! You will find it much easier to get back on track and you won’t have to claw back as much as you could.

Going off track isn’t a reason to keep going off track. Only spend money if you know it is really necessary.

 Readjust Your Budget

Your budget isn’t set in stone. There will be times that you need to readjust it. You could have a new income or one may disappear.

You could have a new bill that you have to pay or you may find that you can drop one. When you go off track, go back to your budget and make changes that you need to.

Don’t Ignore Your Statements

Your bank statements are telling you that there is a problem with your spending. They can tell you when the problems occur, such as the middle of the month when waiting for your next pay cheque.

Look at them and assess where you need to make changes to your finances to help you get back on track.

Keep Checking Your Bills

Always check your bills when they come in. Create a system to check them and note down the amount that you need to pay.

That will make sure you know the amount going out and when exactly that is to help with your budgeting.

Talk to an Advisor

There are many people who will be able to help you with your financial problems.

This doesn’t mean you need to spend money! There are plenty of free and impartial services to give you the best advice for your needs.

Talking about your debt problems is the best thing to do. It will help to make you accountable and start taking steps to improve your situation.

Look Out for Benefits You May Be Entitled To

You never know if you’re entitled to benefits without checking. There are lots of different ones, depending on your circumstances, so go through them and see what you are able to get.

While these can’t be relied on as there are regular changes, they will help you get back on track.

Boost Your Mental Health

Financial worries have a major effect on your mental health. The stress leads to depression but you can fight against that. Boost your mental health with a good diet and exercising.

There are plenty of free forms of exercise while you get back on track and can then start looking into other opportunities that your budget allows.

There are plenty of old-fashioned money tips that are supposed to get you back on track financially. However, scrimping, saving and couponing don’t really lead to a glamorous or fulfilling lifestyle. In order to better understand how women should manage their funds; a wide ranging poll was done to see what advice extremely successful women have on the topic of money. Since these tips and tricks work for the wealthiest women, they can definitely work for you.

Assess Your Current Financial Situation

The fastest way to financial freedom is to understand where your money actually goes. Seeing the figures in print can make your spending habits more real and allow you to feel more in control.

There are even websites that can track your spending habits for you. Mint.com allows you to enter your credit card and bank account information securely, and then sends your constant updates on your spending.

This will keep you informed and allow you to monitor your spending habits. You might decide to get your nails done less often once you realize the actual amount you are spending on this expenditure.

Break Away From Credit Card Debt

All successful and wealthy women have the same advice; don’t carry high balances on your credit cards. Credit card debt is often the downfall of women that enjoy shopping sprees.

Simply swiping your card and carrying a high balance will result in high credit card debt that can be impossible to escape. The best way to avoid high interest rates on high credit card balances is to look into balance transfer options.

Many credit cards regularly offer introductory low interest rates and balance transfer options that allow you to move your high balance to cards with lower interest rates.

This will enable you to pay the actual balance of your card down instead of paying large sums of interest. High credit card balances can also lead to low credit ratings and should be avoided at all costs.

Simply Pay On Time

Getting in the habit of paying your bills on time can eventually lead to financial security.

You will have the ability to avoid late payment fees and can even get incentives for paying your bills regularly and on time. The best way to stay on top of your payments is to make an email account dedicated to bill payment alerts.

This will keep your organized and ensure that all you bills are paid in a timely manner.

Avoid Overpaying On Rent

Rent is one of the most significant expenses that women incur, but overpaying for rent can leave your wallet empty. Only live in areas that you can afford and try commuting to work to lessen your rent expense.

Try to keep your rent payment below 30% of your salary. This will ensure that your living costs are manageable and will not erode your financial situation over time.

Rent is necessary, but like all of your other expenses it should be managed and monitored over time.