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6 Ways to Be More Prudent and More Financially Stable

6 Ways to Be More Prudent and More Financially Stable

We are taught to manage our finances while we are still kids. Our parents give us an allowance and see how we distribute our money throughout the month or week. Then when we move out during our studies, we have to pay bills and buy food so managing finances becomes a bit more difficult. Then we start to live in a home of our own, where there are all sorts of other bills and repairs to worry about, so staying within your budget becomes even more difficult.

If we are not careful, we can easily end up having money problems and this can lead to a very stressful life in the future. Furthermore, we live in a time of consumerism, so a lot of people out there are trying to sell you things you don’t even need, but they are making compelling cases so that you end up becoming a customer. Due to these reasons, managing finances becomes more challenging, so here are some tips that can help you become more frugal.

Plan out how much you are allowed to spend

Alright, one of the most basic mistakes one can make when handling salary, is to adopt a “go with the flow” point of view. When you get your paycheck, it would be wise to have some sort of basic budget plan i.e. a rough estimate of how much you can spend on a daily basis, so that you can go through an entire month living fairly comfortably.

Once you have that, you should by no means spend the entire daily budget, since you are bound to face unexpected expenses and you’ll need an emergency fund. Also, this daily budget is a good starting point for future financial strategies. You’ll need to find different ways of increasing your daily limit and challenging yourself to save more.

Do not be financially dependent on other people

Of course, if you are going through a bad financial patch, chances are you will borrow money from friends or family. However, you should not allow this to become a habit. Being financially dependent on other people makes you one step closer to financial suicide.

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Truth be told, you might not borrow much and your close friends or family won’t mind you borrowing some money, but this is more of a personal issue. If you constantly need to depend on other people, then you have a problem that has a rather simple solution. You can either spend less or find a way to earn more.

We live in a world where earning a bit extra cash is really not that hard, it’s simply tedious. You can complete surveys or install apps that you can use to earn money online and then can cash-in later. If you continue to rely on others from one month to another, it will only send a message that you refuse to solve your problems and this can leave severe consequences in the future.

Do thorough research before important decisions

It is important that you do not make any big investments without thorough research. You can visit different types of agencies and speak to different financial advisors, but bear in mind, that these people can have a vested interest when they tell you what to do. If the advice is not coming from a close friend or a family member who genuinely cares for you and who is well-versed in money management, don’t immediately adhere to it.

You can do online research and find more accurate information this way. Of course, the people who tell you how to handle your finances are also online and will probably advise you the same thing there, but there is a difference. Google has its own base of trusted websites, and there are always ways to check if sites are trustworthy. Here are some explanations on how to do it, but you can find even more online.

These big decisions are usually loans and these loans are sometimes a necessity, because it is unrealistic to expect that you can simply pay for an entire house with cash. So, at one point you might need to get a house mortgage. When someone explains to you how this whole process works and you feel that the explanation is oversimplified, then chances are that, the person has a vested interest in your investment.

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It’s important that you are vigilant and that you explore all of the other options before you go through with this type of decision. Here is a good guide that can help you gain a deeper understanding of mortgage rates; make sure you go through it if you plan to buy a new home, or if you want to be a real estate investor.

Another important thing to remember is not to turn to the payday loan industry. These are also known as predatory loans, because their interest rates are ridiculously high. They only offer a quick solution, but everyone ends up regretting their decision due to the astronomical interest rates.

In other words, if you really need a loan and intend to pay it back, then it’s far better to borrow from friends or family. People usually end up borrowing money from others, or pawn their possessions in order to return payday loans and they could have done those things in the first place instead of taking that loan.

Use money management tools

I have already mentioned how you can use apps to earn money, but you can also use apps to save money. There are apps that can calculate your expenses and give you good financial advice, but it’s always better to seek a financial advisor you can trust. However, there are apps which can help you get coupons or discounts in stores.

They will also provide you with insight into which stores currently have discounts, sales etc. These are really useful and with a good shopping strategy you can save a lot of money. It’s also important to know that some of these quality apps come at a price, so you should only buy them if you absolutely need them.

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In other words, if you are already having a hard time managing your resources and have debts, then these apps won’t do much good; they will only be an additional expense. On the other hand, if you want to create a good savings strategy, then buying them is a good idea, since they will eventually pay for themselves.

Use saving tactics

When it comes to saving money, there are so many viable tactics out there that you would be surprised. In this section I will only list some that I really like, but as mentioned you can find a lot more online.

  • Weekly challenge: Basically you set the amount of money you wish to put aside each week (it can be $1, $5, or $10). Then at the end of the week you put that amount in a piggy bank or a savings jar, but at the end of next week, the amount needs to be doubled and so on.

So, if you go for $5 then, next week you place $10, and a week after that is $20, and the last             week of the month is $40. You reset the amount at the beginning of the next month. Also it             might be better to place the money in the jar at the beginning of the week, so that you know             you cannot count on it.

  • Wait for a discount on general goods, like cleaning products, toilet paper, toothpaste etc. Then feel free to buy these goods in bulk and you won’t have to spend money on them in the near future.
  • If you need new furniture, check out sites like freecycle.org to see what you can get free of charge.
  • Instead of buying cleaning rags, you can save your old clothes that are no longer wearable, and use them to clean floors.
  • Before you go shopping, write a list and stick to it; don’t be tempted to buy anything you don’t need. In any store, the most essential items are usually in the back, so that shoppers are tempted by expensive products they do not need while they are walking to the back of the store to buy what they came for.
  • Learn how to repair clothes so you won’t have to toss it away at the first signs of wear and tear and you can also earn some extra cash if you monetize these skills.
  • Buy light bulbs that do not use as much energy as regular light bulbs, they last longer and even though they are expensive, they will pay for themselves and save you money.

Once you manage to accumulate a fine amount of resources with these saving tactics you can invest in things like solar panels and a tankless water heater, since these will also save you money in the long run. Moreover, in case you want to discover more saving tactics, you can use websites like thesimpledollar.com, and you can find some good tips in this article as well.

If you go through the links, you’ll find out that if you choose to live healthier you’ll also save a lot of money. We all spend too much on food and if you learn how to prepare it yourself, you will eat better and spend less.

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Furthermore, if you buy bottled water, you should stop and buy a filter for tap water; this way you can drink tap water and you won’t have to buy it from the store. Also, if you carpool with your colleagues from work, you save the environment and money that would go on gas. In other words, we spend a lot just to have a bit more convenience and we don’t really need to sacrifice much to save quite a  bit of money.

Eliminate minor but unnecessary expenses

Finally, you must never forget that we live in a world that is dominated by micro transactions. These are really tricky, since you can’t argue that someone is trying scam you and we have almost no issue with small fees, so we part from our money lightly.

However, one small subscription after another and you start to lose a significant amount of cash, and you barely notice it. These small subscriptions are very often for a magazine, for account maintenance, for private network channels or cable channels etc.

In reality we  rarely use these services, mostly when we are bored and quite frankly there are other ways to be entertained. It only seems cheap and convenient with these subscriptions, but in the long run, we end up regretting the decision when we find out just how much we could have saved. The point is, you should not fall for micro transactions for products you won’t use frequently.

As you can see, being more prudent is not that hard. All it takes is some effort and minor life changes, but there are long-term benefits for those willing to apply them. Make sure you go through the links in this article, as they can tell you how to save and how to think before investing, and they can also help you earn a bit extra.

Remember to operate within the borders of your daily budgetnand to invest in items that can help you save more money in the future. If you manage to do this, you should be just fine.

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Djordje Todorovic

Blogger, Gamer Extraordinaire

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Last Updated on July 4, 2019

25 Killer Sites For Free Online Education

25 Killer Sites For Free Online Education

Whether you’re five or ninety five, the internet has a lot to offer. Particularly when the topic is education, the resources on the internet are endless.

Best of all, many high quality sites are completely free. From history to coding, excellent free online education awaits on the following 25 sites.

1. Coursera

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    Coursera is a website that partners with universities and organizations around the world. This brings a wide variety of topics and perspectives to one searchable database.

    Coursera is a powerful tool for free online education, and includes courses from many top universities, museums and trusts. This gives the site an extremely wide range of in-depth courses.

    Coursera is extremely useful if you’re looking to study many different topics, or want courses from different schools and groups.

    2. Khan Academy

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      Partnering with many post secondary schools, Khan Academy offers a useable, well organized interface. Also curating many courses from around the web, Khan Academy offers impressive depth on many different subjects.

      Among the more well known educational sites, Khan Academy is also incredibly useable, which may make it easier to keep learning goals.

      3. Open Culture Online Courses

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        If you are struggling to find exactly the material you are looking for, try Open Culture’s listing of free online education courses. The page highlights 1000 lectures, videos and podcasts from universities around the world. The site features a lot of material found only on universities private sites, all in easy to browse categories. This means you can find hundreds of university courses, without having to visit and search each university’s own site.

        Open Culture’s list features courses from England, Australia, Wales and many state universities around the United States. A very helpful resource for finding many courses in one area of study.

        4. Udemy 

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          Udemy’s free courses are similar in concept to Coursera’s but additionally allows users to build custom courses from lessons.

          Working with many top professors and schools, the site mixes the customizable platform of other sites with a heavy emphasis on top quality content. This is another site however, that mixes free and paid content.

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          5. Academic Earth

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            Another site with courses from many different schools is Academic Earth. Much like the three sites above, Academic Earth brings together top notch courses from many different sources, and focuses on offering a wide variety of subjects.

            Academic Earth lists courses by subject and school, so it might be easier to find what you’re looking for.

            6. edX

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              Another great option for free online education is edX. Also bringing together courses from many different schools, the site has impressive, quality information for everyone. edX covers a great range of topics.

              7. Alison

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                Unlike the previous sites on this lists, Alison is a free education site offering certification in some areas. Alison offers courses mainly in business, technology, and health, but also includes language learning courses.

                It’s a great option if users need certification for their learning as Alison also offers school curriculum courses.

                8. iTunesU Free Courses

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                  A very convenient place for free online education is iTunesU, because it integrates seamlessly with your iPod, or any app-ready Apple mobile device. On iPad, iPhone, or iPod touch, users download the iTunesU app.

                  Desktop users can access  iTunesU on the upper right hand corner of the iTunes Store. iTunesU is also convenient because the store is categorized much like iTunes.

                  Users can search learning materials in many different ways, including genre and topic. However, courses are often a mix of free podcasts or videos, and paid content.

                  ITunesU does include courses on a pretty wide scope of topics, but does not integrate with Android, Google or Windows mobile devices.

                  9. Stanford Online

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                    Your hub for all the online offerings from Stanford University, Stanford Online offers self-paced and session based courses. While Coursera features some courses from Stanford, many classes are only available via other hosts. Some courses require iTunes, but most are completed in your web browser.

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                    Stanford Online is a great site for high quality courses, though the topics are somewhat limited compared to sites partnered with more than one school.

                    10. Harvard Extension

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                      Like Stanford Online, Harvard Extension features free online education courses from Harvard only. This is another excellent source for top notch course material, though the course variety is less rich than multi-school sites.

                      Additionally, Harvard Extension allows you to search for courses by professional certificate. This makes it much easier if your online education goal includes certification.

                      11. Open Yale Courses

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                        Open Yale Courses echoes Harvard Extension and Stanford Online, in that it offers only courses from Yale. While the site is similarly limited to topics taught at the school, Open Yale Courses offers a lot of videos of actual campus lectures. The availability of videos makes the site a great option if you’re looking for quality courses, but learn better by watching than by reading.

                        12. UC Berkeley Class Central

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                          Much like the other schools on this list, UC Berkeley has a variety of free online education options. The school has slightly fewer courses than the schools above, but includes some supplementary lectures, webcasts and RSS Feeds, making it easy to keep up with the topics you choose.

                          13. MIT OpenCourseWare

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                            Similarly, MIT offers a variety of free courses. The school has a comparable number of courses to the schools above, plus includes very in-depth course materials on the subjects available. MIT also offers free RSS feeds, a convenient way to continue learning.

                            14. Carnegie Mellon Open Learning Initiative

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                              Carnegie Mellon’s free online education site is comparable with the other school’s on this list, however, Open Learning Initiative also covers a smaller range of topics. But for the topics that are covered impressive, in-depth material is available.

                              15. Codecademy

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                                Codecademy is a website dedicated specifically to teaching coding. Where other coding sites follow an example/practice session workflow, Codecademy includes a live practice window. This means you can practice coding while still viewing the lesson material.

                                The courses at Codecademy are well written and easy to follow and the website is organized very nicely. Codecademy features a centralized dashboard where you can monitor your progress, plus organizes lessons into complete modules. This lets you learn an entire language without needing to pick the next course manually.

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                                16. Code

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                                  Code is another website focused on coding and app writing. A site with high quality courses, Code also features learning options for kids.

                                  In addition to kid friendly courses, Code offers free online education classes on a wide variety of technology topics. These classes include app writing, robotics and Javascript.

                                  Most of the courses are also geared in a such a way that they can be useful in a classroom setting. This makes Code a great resource for harder to find coding topics, as well as various learning settings.

                                  17. University of London Podcasts

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                                    The podcast page on the University of London website is another great source for free education. While the courses are limited to podcasts, the site features podcasts from it’s own campus, as well as eleven universities in and around London. This gives learners a wide base of topics and lectures, but still ensures in-depth material.

                                    18. University of Oxford Podcasts

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                                      Similar to the University of London, the University of Oxford features many different podcasts. Most are public lecture series or lectures from visiting professors, with several different recordings available.

                                      The advantage to this particular site is that podcasts are organized into series, making it easy to subscribe to multiple lectures on one topic. Another good site for thoroughly in-depth lectures.

                                      19. BBC Podcasts

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                                        For the more casual learner, the BBC offers a wide variety of podcasts on many different topics. Most podcasts are updated weekly, and focus on everything from finance, to sports, to current events.

                                        Through the World Service line of podcasts, there are also many in different languages. The focus of these podcasts are less in-depth and theory based, which may be more accessible to the average person.

                                        20. TED-Ed

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                                          Another great destination for more general learning is TED-Ed. From the same people that brought you the all encompassing, motivational web series, comes a site chocked full of educational videos. Most include impressive animation, and all are ten minutes long or less.

                                          Not only is TED-Ed an excellent site for the curious, it also includes supplemental materials and quizzes on the videos. This makes the site extremely useful in formal education settings, as well as in entertaining ways to brush up on new discoveries and topics.

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                                          21. LessonPaths

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                                            LessonPaths is another great tool for those looking for a more usable and convenient way to access learning material. On this site, users create link playlists of their favorite learning materials from other sites. Users then rank these collections, making it easy to find many different high quality, accessible sources on a given topic.

                                            22. Memrise

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                                              Another impressive free online education site offering ease of use and convenience is Memrise. Available both on desktop and as an app, Memrise is a particularly powerful tool if you are studying a language. The site encompasses many other topics as well, though some of the course material is user generated content.

                                              Part of what makes Memrise special is their integration of games into the learning materials, mixing learning with entertainment.

                                              23. National Geographic Kids

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                                                The kids site for National Geographic is another site that makes free online education applicable for younger users. For those looking for kid friendly education, a large variety of games, puzzles, videos and photos keeps kids interested on this site.

                                                National Geographic Kids doesn’t organize learning into courses, making materials available by topic and medium instead. This makes National Geographic Kids a good option for those looking for a more casual learning environment.

                                                24. Fun Brain

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                                                  Fun Brain is another good option for kids who want to learn online, but focuses on games and fun puzzles. Particularly focused on math and reading, Fun Brain’s game based approach can be valuable if the child in question struggles to pay attention.

                                                  Fun Brain offers rewards and challenges as well, and is another site aimed at a casual learning experience for kids K-8.

                                                  25. Whyville

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                                                    Similar to the sites for kids free online education is Whyville a destination for preteen online learning. The site includes a variety of social features, with a focus on learning materials geared for young teens.

                                                    Whyville also mixes in educational games, to make the site a well rounded option for kids too old for simple games, but too young for heavy reading based material.

                                                    More About Online Learning

                                                    Featured photo credit: Dai KE via unsplash.com

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