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Apache is functioning normally

June 7, 2023 by Brett Tams

If endless live music, mouthwatering tacos, natural pools and beautiful parks are your idea of a perfect trip, it might just be time to visit Austin, the bohemian capital of the Lone Star State.

Home to events like South by Southwest, Austin City Limits festival and bachelorette parties galore (not to mention barbecue and the University of Texas at Austin), ATX truly has something for everyone.

There’s also a place to stay for every type of traveler, from historic motor lodges converted into chic motels to luxury names we all know. There’s even a lakeside spa resort designed to help guests recharge and relax in the stunning beauty of Central Texas.

Whether you’re a city slicker in town for business, a foodie lookin’ to taste the best Texas has to offer, or you are embarking on a western road trip, here are some of Austin’s best hotels (including some excellent points options), where you can settle in and make a temporary home.

Just don’t forget: Keep it weird.

Related: Why Austin Airport keeps its vendors local to create an airport for foodies

The Line Austin

Austin, Texas, USA

THE LINE HOTEL/FACEBOOK

Best for: Folks looking for a stay that matches Austin’s effortless cool vibes.

Why stay here: The year-round heated pool overlooks the Congress Avenue Bridge, making it the perfect spot to watch the city’s famed bats take flight.

Best way to book: Book direct for the best rates and packages, or through your favorite credit card travel portal.

This Line Austin is one of this hotel reporter’s favorite hotels in the world — and I’ve stayed at some pretty incredible places.

For starters, the location in Downtown Austin, butting up to the Colorado River, is perfect for exploring the eclectic shops and restaurants of South Congress and the lively (though touristy) bars and nightlife on 6th Street. It also sits right along Lady Bird Lake and the Congress Avenue bridge, so you can watch the largest colony of bats in North America put on their natural show as you take a dip in the hotel’s heated pool. (Sounds scary, but it’s one of Austin’s main attractions!)

Inside the hotel, rooms are simple but chic, with a modern, industrial aesthetic made comfortable with Bellino linens, a curated assortment of local snacks and drinks, and floor-to-ceiling windows that fill the space with light radiating from that big Texas sky. Request a lake view room so you can spend a lazy morning watching locals and tourists take advantage of the water.

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At Arlo Grey, “Top Chef” winner Kristen Kish serves up an inspired menu rooted in local fare (think: crispy rice with saffron aioli and cilantro and a Texas-raised Wagyu ribeye with spring onion fritter) alongside cocktails and an international wine list. Wet your whistle at P6, a lovely lounge atop the parking garage serving creative cocktails, elevated bar food and dramatic sunset views over Lady Bird Lake.

Rates at Line Austin start at $225 per night.

Austin Proper Hotel

Austin, Texas, USA

AUSTIN PROPER HOTEL/FACEBOOK

Best for: Design lovers looking for an Instagram-worthy moment.

Why stay here: The Austin Proper Hotel is one of the most visually appealing hotels in town — if not the entire state.

Best way to book: Book through our partner Skylark to earn Marriott points while enjoying elite-like benefits and on-property credits, or redeem your points by booking through Marriott directly.

In a place as trendy as Austin, it’s only right to stay in a hotel with just as much texture and style as the city itself. That’s why Austin Proper (part of Marriott’s Design Hotels), located Downtown on 2nd Street, should be a top contender.

Designed by the influential creative Kelly Wearstler, the hotel exudes a sort of unbridled confidence that will have you posing in plush armchairs and planning outfits to match all that over-the-top wallpaper just to make your followers jealous.

Rooms at this Proper outpost (the others are in California with more East Coast properties coming soon) are grounded in natural hues and elements, such as local stones and woods, and complemented by giant windows with motorized shades, Simmons Providence mattresses and comfortable robes from Parachute. Even better are two amenities every single hotel in the world should include: Apple TV and a fabric steamer.

If you don’t fill up on local art, stop by The Peacock for Mediterranean food, followed by a nightcap at Quill Room, a clubby lounge with live music. During the day, beat the Texas heat with a spicy marg from the rooftop pool restaurant, La Piscina, or borrow a bike and cruise along the river. To really relax, hit up the Verbena Spa for an agave- and tequila-infused treatment ($338 for 90 minutes).

Rates at Austin Proper Hotel start at $350 or 42,000 Marriott Bonvoy points per night.

Miraval Austin

Austin, Texas, USA

SUMMER HULL/THE POINTS GUY

Best for: An ultraluxurious tune-up for the mind, body and soul in the heart of Texas.

Why stay here: When you want to do a little self-care, it’s always best to let the pampering Miraval team take care of everything else for the duration of your stay.

Best way to book: Book through our partner Skylark to enjoy elitelike benefits and on-property credits; or reserve through American Express Fine Hotels + Resorts for value-added benefits like upgrades and late checkout based on availability, plus on-property statement credits.

One of the crowning brands in Hyatt’s robust portfolio, Miraval Resorts offers tranquil retreats that help guests center themselves in the day-to-day hustle we call life, as well as give them a chance to disconnect from technology thanks to its mostly unplugged cellphone policy.

The adults-only Miraval Austin is tucked away in a sprawling complex in the hills. Guests have plenty of wellness-focused activities to choose from, including sound healing sessions, yoga and meditation classes. There are also experiences with horses, farming activities like chicken keeping, and even more physical activities like a ropes course challenge and climbing walls (note that some activities are not included in the mostly all-inclusive pricing structure of Miraval Austin.)

Food is served at The Hilltop Crossings Kitchen, which is designed to be as calming, healthy and nourishing as the rest of any stay. Beyond the standard three meals daily, a rotating menu of food-focused activities, like “Conscious Mixology” and lessons on gut health, are on offer.

Related: A review of Miraval Austin Resort and Spa

Then, of course, there’s the Life in Balance Spa. Experiences here range from a deep tissue massage ($235 for 50 min) to Eastern-inspired experiences like the “Crystal Energy Balancing” session ($195 for 50 min) that uses Reiki and crystals to help cleanse the soul.

Rates at Miraval Austin start around $1,200 or 57,500 or 72,000 World of Hyatt points per night, both based on double occupancy. Note that every award booking includes a $175 resort credit per person.

Fairmont Austin

Austin, Texas, USA

FAIRMONT AUSTIN/FACEBOOK

Best for: Austin visitors who want a stylish stay close to all the action.

Why stay here: A resort-style, year-round rooftop pool is the perfect place to escape the downtown crowds.

Best way to book: Book through our partner Skylark to enjoy elite-like benefits and on-property credits.

For those looking for a more refined stay in Austin, high above the boozy bars of Downtown, the Fairmont is a top-notch choice with an array of superb amenities that make it difficult to decide how to spend your time.

You could reserve a cabana for privacy or snag a pool lounger to soak up the sun beside the Texas-size, resort-style rooftop pool. Or, pamper yourself at the Fairmont Austin Spa for a Himalayan Hot Salt Stones Massage ($195 for 50 minutes) or take a soothing dip in the indoor, infinity-like soaking pool.

Rooms at this Fairmont radiate classic luxury, with plush beds, floor-to-ceiling windows, comfortable lounge chairs and a neutral colorway with pops of blue and green. In the bathroom, who could ask for anything better than Le Labo Rose 31 toiletries?

While Austin boasts some of the best dining in the state, the Fairmont has plenty of its own restaurants to wade through. There’s the Texas-style, open-flame steakhouse Garrison; the Room 725 Champaign and Caviar Bar; seasonal bites and drinks at Fulton; and more.

Rates at Fairmont Austin start around $207 per night.

The Driskill

Austin, Texas, USA

THE DRISKILL/FACEBOOK

Best for: Refined travelers who clean up for the day but want to let loose on buzzy 6th Street at night.

Why stay here: This hotel perfectly marries its storied place in Texas history with its convenient physical location to Austin’s main nightlife corridor.

Best way to book: Book through our partner Skylark to earn World of Hyatt points while enjoying elite-like benefits and on-property credits, or redeem your points by booking through Hyatt directly.

Though Austin’s skyline is full of glitzy new highrises, the city also has a handful of hotels loaded with history — none more than the Driskill, part of Hyatt’s Unbound Collection, which dates back over 100 years to 1886. Here you’ll find a mix of old and new glamour, but all with a Texas twist. Rooms feature wrought-iron beds with cowhide benches at the foot, trunk-style nightstands, wooden writing desks and large drapes with valances depicting the exterior of the hotel.

Right near the action of 6th Street (which, be warned, can get rowdy) and not too far from the state Capitol, this hotel is a great place to steep yourself in Texas traditions — especially when it comes to food. Stop by the leather- and cowhide-clad Driskill Bar, and you might find yourself sippin’ on a local draft beer with a helping of pimento cheese. Next, head to dinner at The Grill, where former President and Lady Bird Johnson had their first date, for a biscuit board (it’s exactly what it sounds like!) and filet mignon.

Rates at The Driskill start at $204 or 21,000 World of Hyatt points per night.

Four Seasons Austin

Austin, Texas, USA

FOUR SEASONS HOTEL AUSTIN/FACEBOOK

Best for: The luxury-obsessed and people who want quick access to the water.

Why stay here: The on-demand margarita cart will have a bartender mixing margs in the comfort of your room.

Best way to book: Book through our partner Skylark to enjoy elite-like benefits and on-property credits.

The Four Seasons is known for giving its guests the most in unbridled luxury — and in Austin, that comes in the shape of an on-demand margarita cart because what’s more luxe than a Clase Azul Añejo marg at just a phone call away?

Actually, there are plenty of things equally as luxe at the Four Seasons Austin, like rooms featuring the Canadian brand’s signature beds, views of Lady Bird Lake, Byredo bath products in a travertine shower and twice-daily housekeeping. For a little more, opt for a Lake View Balcony Room so you can take that aforementioned margarita (say that five times fast!) right out into the fresh air.

If you’d rather enjoy your drink at the bar, stop at Live Oak, where you can sample a chili-infused mezcal cocktail served in a glass boot by an oversized fire pit. At Cicilo, Texas and Latin flavors merge to create a menu featuring fare like enchiladas rojas, sea scallops and pork belly, grilled steaks and smoked Texas quail.

However, there’s more to do than eat and drink. Relax by the pool or grab a hiking trail guide and explore the paths right outside the hotel, which is along the river in downtown Austin. Head to the fitness center for a yoga class, or book a treatment of your choice at the luxurious spa.

Rates at the Four Seasons Austin start at $640 per night.

Thompson Austin

Austin, Texas

THOMPSON AUSTIN/FACEBOOK

Best for: Hyatt loyalists wanting a taste of Austin’s eclectic style.

Why stay here: Celebrated culinary duo Mashama Bailey and Johno Morisano (behind Savannah’s famed restaurant The Grey) lead the food and beverage programming.

Best way to book: Book directly through Hyatt to earn or redeem World of Hyatt points and enjoy any elite benefits.

One of the most exciting new hotels in town (included in TPG’s list of most anticipated hotel openings of 2022), the Thompson Austin is a sleek, moody new World of Hyatt property right at the heart of all the action.

Here, guests can expect stylish rooms designed by Chicago-based Simeone Deary Design Group, with terrazzo floors, green leather headboards, big TVs to catch up on Netflix, rainfall showers with D.S. & Durga bath amenities and fabric steamers to easily work out the wrinkles in your garments without wrestling with an iron and ironing board.

The real star of this property is The Diner Bar, where James Beard Award-winning chef Mashama Bailey and restaurant partner John O. Marisano (the forces behind Savannah’s hit restaurant, The Gray) serve seasonal southern food with a Texas flare. (There’s also a grab-and-go counter from the duo if you’re short on time.)

On the fourth floor, a pool deck offers lounge chairs and cabanas to relax in while grazing on snacks from Wax Myrtles, a Texas-meets-California Mexican restaurant serving bites like fish tacos and shrimp tostadas alongside heat-beating frozen drinks, fun cocktails and local beer on tap.

Rates at Thompson Austin start around $300 or 21,000 World of Hyatt points per night.

Lake Austin Spa Resort

Austin, Texas, USA

LAKE AUSTIN SPA RESORT AND SPA/FACEBOOK

Best for: People who want a wellness experience combined with all the fun of a beautiful lake.

Why stay here: Located near one of the country’s most booming cities, this spa resort is equal parts fun, relaxation and style.

Best way to book: Book through our partner Skylark for elitelike benefits and on-property credits.

The all-inclusive Lake Austin Spa Resort is the place to leave the “weird” of Austin behind, set your intentions on rest and relaxation and enjoy the better parts of life on 19 acres of lakefront property.

Half an hour from downtown Austin, this dreamy resort is accessible by car — but the more fun way to get there is by water taxi. As the water taxi is less crowded than the highway, so is the resort itself, with just 40 sun-filled rooms with porches, relaxing soaking tubs, tall ceilings and even cottages that have their own hot tubs.

The pricing structure here gets guests three hearty meals a day (room service counts), plus healthy smoothies, juices and snacks. Also included is a 24-hour fitness area, lake activities like kayaks and paddleboards, a lakeside beach, outdoor pools, swings and hammocks (to finally read that book you’ve been carrying around), a heated indoor pool and tons of activities ranging from belly dancing classes to hiking in the hills.

Just don’t forget, it is a spa resort — and this one has a whopping 25,000-square-foot facility that offers whirlpools, saunas, steam rooms and more. Treatments range from the ultra-luxe (we’re talking a caviar-infused facial that’s a little north of $1,000) to more standard options (like a deep-tissue massage, starting at $225).

Rates at Austin Spa Resort start at $1,550 per night, based on double occupancy.

Hotel Van Zandt

Austin, Texas, USA

HOTEL VAN ZANDT/FACEBOOK

Best for: Travelers who want a boutique stay on an Austin-centric street full of popping bars, live music and local food trucks.

Why stay here: Located in the Rainey Street District, this hotel is steps from where locals and tourists both come to play.

Best way to book: Book directly through Marriott to earn or redeem Marriott Bonvoy points and enjoy any elite benefits.

Formerly a Kimpton hotel, the now-independent Hotel Van Zandt towers over the Rainey Street District, a strip of houses-turned-bars, parking lots filled with food trucks and a generally younger crowd looking to live it up on one of Austin’s main party drags.

Though Rainey Street might seem a little college-like, the hotel feels all grown up, with rooms featuring a color palette of deep blues and airy beiges, large wooden desks, plush linens and a table with leather chairs. Non-standard rooms include a spa suite with a soaking tub; 900-square-foot Presidential Suites, complete with kitchenettes and vinyl record players; and pool view rooms.

Speaking of the pool, the rooftop pool deck has plush cabanas and a poolside bar serving snacks and drinks, and there’s a massive fireplace where guests gather on crisp evenings. If you’re hungry, stop by Geraldine’s, offering Texas-inspired brunch and dinner, plus daily live music. You might think Texas is all country, but make a reservation for Jazz Brunch, and you’ll leave realizing why Austin is called the “Live Music Capital of the World.”

Rates at the Hotel Van Zandt start at $206 per night.

W Austin

Austin, Texas, USA

W AUSTIN/MARRIOTT.COM

Best for: Marriott loyalists who want a points property in the heart of Austin’s downtown action.

Why stay here: With four distinct areas, including a room filled with hundreds of records and a bar designed for tasting legendary tequilas, the hotel lobby is a destination in itself.

Best way to book: Book through our partner Skylark to earn Marriott points while enjoying elite-like benefits and on-property credits, or redeem your points by booking through Marriott directly.

At W Austin, located downtown, Marriott loyalists can find a funky slice of home that’s fitting for a trip to one of America’s funkiest cities.

Rooms that would otherwise be considered bland or stale are brightened with whimsical pops of color. Also, staying true to the W brand aesthetic, there are fun red couches and armless chairs to lounge in. Other elements include images from local photographer Scott Newton, Bricor Venturi shower heads and 300-thread-count bedding because every visitor to Austin knows a good day requires a good night’s sleep.

Know, though, that Austin isn’t the kind of place you spend too much time in your room. Instead, the home base at this hotel is the immaculate lobby, split into various sections. They include the Tequila Bar, with a vast assortment of spirits and games to play; the Record Room, where guests can pursue over 8,000 different vinyl records; and the Living Room, which offers a club-like atmosphere with a live DJ some nights.

The hotel also has a restaurant, Trace, serving breakfast, brunch, lunch and dinner with a menu of locally sourced foods ranging from pasta dishes to brisket sandwiches. There’s also a fourth-floor pool deck with lounge chairs and cabanas, a spa and a 3,600-square-foot gym.

Rates at W Austin start at $257 or 44,000 Marriott Bonvoy points per night.

Commodore Perry Estate

Austin, Texas, USA

COMMODORE PERRY ESTATE, AUBERGE RESORTS COLLECTION/FACEBOOK

Best for: Jetsetters or city folk looking for an urban escape.

Why stay here: Set in a palatial estate, rooms trade in Austin’s contemporary vibes for European panache fitting of Lone Star royalty.

Best way to book: Book through our partner Skylark to enjoy elite-like benefits and on-property credits.

Auberge Resorts knows luxury well — and that’s exemplified at its Austin property, Commodore Perry Estate, which is set in a European-meets-Texan walled estate sprawling over 10 acres. An iconic landmark given a new life, this retreat offers stunning, Renaissance-inspired suites in the historic mansion and a series of rooms and suites in the Inn, all filled with various accents like four-poster beds, leather couches, ornately-framed artworks and local goods to take home from the room in an area cleverly called “The Estate Sell.”

Guests can relax by the cooling pool waters but don’t miss out on the many events scheduled throughout a stay, including tequila tastings, custom boot experiences, hiking and live music. For the wellness-minded, there are HITT and yoga classes, meditation sessions and personal training instructors. Across the street, a nine-hole public golf course invites folks to practice their swing.

Meals are savored at Lutie’s Garden Restaurant, named after the estate’s original matriarch and designed by the eclectic visionary Ken Fulk. Meals consist of fresh, seasonal produce with an underlying focus on incorporating ingredients and meats from local farmers and ranchers. Guests can also eat poolside from a menu of select pool snacks.

Rates at Commodore Perry Estate start at $520 per night.

Austin Motel

Austin, Texas, USA

AUSTIN MOTEL/FACEBOOK

Best for: A trip with friends or bachelor or bachelorette parties.

Why stay here: With retro design, a buzzy outdoor space perfect for sipping a craft margarita and an ideal location on South Congress, the Austin Motel is the epitome of what makes Austin so fun.

Best way to book: Book direct for the best rates and packages, or through your favorite credit card travel portal.

If you’re a fan of retro vibes, ’70s decor and Wes Anderson films, you’ll be right at home at the Austin Motel, a staple of South Congress and the Austin hotel scene.

At this vintage motel, guests sleep in rooms with quirky wallpaper, brightly colored headboards, Sferra sheets — and peace of mind from knowing that you’re in one of the coolest places in town.

Spicy margaritas are best had beside the kidney-shaped pool, where red-and-white plastic fold-up pool chairs invite guests to relax in the sun (or pose for a very likable photo). Next door, in a space shared with the hotel, Joann’s Fine Foods serves tacos throughout the day (breakfast tacos are life in Austin) alongside enchiladas, sizzling fajitas and lots and lots of queso.

Just don’t forget to stop at the hotel’s bodega, or general store, for some Austin-centric goods to take home, like fun T-shirts, funky swim trunks and other goods worthy of a splurge.

Rates at the Austin Motel start at $149 per night.

Hotel Saint Cecilia

Austin, Texas, USA

HOTEL SAINT CECILIA/FACEBOOK

Best for: People who know that a hotel can be so much more than a place to rest your weary head.

Why stay here: Built around a Victorian-era home, the Hotel Saint Cecilia is playful, chic and one of the trendiest places to stay in one of the country’s trendiest cities.

Best way to book: Book through our partner Skylark to enjoy elite-like benefits and on-property credits.

Found in South Austin, Hotel Saint Cecilia (named after the patron saint of music and poetry) is an intimate abode that oozes charm and Austin’s fresh sense of cool. Rooms include minimalist studios, ornate suites and poolside bungalows with record players, king-size Hästens beds and outdoor seating where you can sit back and relax.

At the 50-foot heated lap pool, children are allowed until 2 p.m. Then, the area turns into an adults-only space where drinks, like a chili-infused reposado tequila, and snacks (try the charcuterie board) are on offer from the Lounge. Guests can also enjoy a full bar and food menu away from the pool in a charming seating and bar area that’s generally not open to the public.

Rates at Hotel Saint Cecilia start at $449 per night.

The Loren at Lady Bird Lake

Austin, Texas, USA

THE LOREN AT LADY BIRD LAKE/FACEBOOK

Best for: Travelers to Austin who want to feel part of the scene without being directly in the middle of it.

Why stay here: This new hotel is perfectly located near Austin’s legendary green spaces but still close enough to walk to its bustling entertainment districts.

Best way to book: Book direct for the best rates and packages, or through your favorite credit card travel portal.

Another hotel new on the scene, the Loren at Lady Bird Lake, has all the character you’d expect from such a vibrant city but is slightly removed, geographically speaking, from the true hustle and bustle of downtown.

The public areas are industrial chic, with concrete walls adorned with beautiful plants everywhere you look, soft wood tones and cozy couches on which to relax. Throughout the hotel, an impressive collection of art themed around science and architecture also commands attention.

In the rooms, floor-to-ceiling windows provide views of the best parts of Austin, vibrant green carpet brings the outdoors inside, and a charming mix of leather furniture, patterned headboards and sleek white Sferra linens effortlessly ties it all together. Bathrooms feature beautiful stone countertops, walk-in showers (some rooms have free-standing tubs) and Malin+Goetz products to wash away the day.

Inside the hotel, the rooftop restaurant Nido features a menu of seasonal offerings throughout the day, from a blue crab omelet for breakfast to pasta dishes, meat and seafood dishes for dinner. Room service is also available, and a coffee shop in the lobby can help jumpstart your day with a caffeine fix.

There’s also a gorgeous 8th-floor pool deck with lounge chairs for catching some sun, a spa and a fitness center. With its waterfront location, you can borrow kayaks and hit the lake for a true taste of what Austin’s all about.

Rates at The Loren at Lady Bird Lake start at $380 per night.

Hotel Zaza

Austin, Texas, USA

HOTEL ZAZA/FACEBOOK

Best for: Those looking for a boutique stay near the neon lights of downtown.

Why stay here: Just steps away from the city’s storied nightlife, this Austin hotel is the perfect home base.

Best way to book: Book direct for the best rates and packages, or through your favorite credit card travel portal.

Hotel ZaZa is a Texas-based boutique chain with four eclectic properties in Dallas, Houston and Austin. In the state’s capital city, ZaZa offers a little something for everyone, from a great 7th-floor pool deck to the ZaSpa, which offers massages, facials and couple’s experiences.

Throughout the hotel, the design offers a little of this and a little of that — in the best way, with bold patterns, vibrant textiles and a philosophy contradicting the age-old saying “less is more.”

In standard guest rooms, expect refined style, plush couches, leather armchairs, a stocked mini-bar and robes. But, for a quirky upgrade, book one of the “Magnificent Seven Suites.” Rooms include the campy Bungalow 6, which feels like a set from “Golden Girls,” and the 880-square-foot “Orient Express,” which serves Agatha Christie novel vibes.

With two great on-site restaurants, it’s easy to eat well at Hotel ZaZa. Meals at Group Therapy start with dishes like crispy calamari and jalapenos or a trio of deviled eggs (hello, caviar) before moving into a sprawling selection of mains like a chicken-fried Wagyu steak po’boy with poblano gravy dip, slow-braised short ribs or pork belly tacos. At Cabana Bar, the poolside bar and eatery, seared ahi tuna tostadas pair perfectly with a frozen pina colada.

Rates at Hotel ZaZa start at $240 per night.

Hotel Magdalena

Austin, Texas, USA

HOTEL MAGDALENA/FACEBOOK

Best for: People who want a boutique taste of Austin’s distinct style, music and culinary offerings.

Why stay here: A converted motor hotel, the Hotel Magdalena is fun, friendly and within walking distance to some of the best shopping in town.

Best way to book: Book direct for the best rates and packages, or through your favorite credit card travel portal.

Bunkhouse really does have a hold on Austin, and Hotel Magdalena is another of the company’s great hotels to consider. At this particular hotel, right off South Congress, guests can enjoy an intimate experience that’s full of fun and culture but without too many other guests considering there are only 89 rooms.

Though the rooms are few, they’re certainly big on character and feature monochromatic bathrooms with bright blue, green or yellow tiles; vintage music photography from Austin’s own Scott Newton; Sferra linens; Sangre de Fruta bath products; and a laid-back but homey aesthetic.

This hotel has many of the staple Bunkhouse amenities, including a killer pool and a fun gift shop with curated products to take home. It’s also pet friendly. There’s a full-service, all-day restaurant, Summer House on Music Lane, plus the Magdalena Bar for drinks and poolside cocktails. But the real star is Equipment Room, a tech-savvy, speak-easy-like basement bar with a focus on good sound, craft cocktails and elevated bar food and a world-class record collection.

Rates at Hotel Magdalena start at $237 per night.

JW Marriott Austin

Austin, Texas, USA

JW MARROTT AUSTIN/FACEBOOK

Best for: Business travelers and Marriott loyalists.

Why stay here: Though Austin is full of quirky boutique hotels, the JW Marriott Austin is a more buttoned-up affair for people in town for business.

Best way to book: Book directly through Marriott to earn or redeem Marriott Bonvoy points and enjoy any elite benefits.

For Marriott Bonvoy loyalists, business travelers or people who want a classy, resort-like property in the heart of downtown, the JW Marriott Austin checks all the boxes. The hotel is the perfect mix of work and play, with well-appointed rooms that feature plush beds, padded armchairs, a desk space to get some work done and then a smart TV to unwind with your favorite shows after.

That’s not all, though. There’s a spa offering curated treatments, massages or facials; an upscale fitness center with tons of workout equipment; and a big pool with chairs and cabanas to lounge on.

If you get hungry, head to one of the hotel’s many bars or restaurants to quell your appetite. There’s the upscale Dean’s Italian Steakhouse, serving Wagyu from Texas and Japan; a popular walk-up burger spot called Burger Bar; a casual Texas-themed restaurant named Corner Restaurant; and a rooftop restaurant.

Rates at JW Marriott Austin start at $237 or 41,000 Marriott Bonvoy points per night.

Source: thepointsguy.com

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Apache is functioning normally

June 7, 2023 by Brett Tams

[Editor’s note: Originally published here.]

Pilots are a critical touchpoint for property companies and PropTech firms alike. They give real estate businesses an inside track to innovative technologies and provide tech startups with crucial real-world information on what works, what doesn’t, and ultimately, what is saleable. Getting pilots with the right partners can dramatically reshape the growth trajectory of startups and provide traditional real estate businesses with a big competitive edge, but the actual process can be daunting, particularly for property companies with limited tech experience.

We’re changing that with this article. We spoke to experts at real estate companies and a rapidly growing PropTech firm to get the inside story on what property firms should do to optimize for their next pilot partnership, and set the stage for a winning, long-term program.

Homework 

If you’re considering launching a pilot at your property company, it might be tempting to jump straight to looking for partner candidates. Before you do that, though, take some time to get your ducks in a row. Identify where solutions could be most helpful for your organization, and ensure that you have the infrastructure in place to actually execute on what you sign yourself up for.

“If you’re going to do a pilot it is probably worth going through the effort to map out the entire process,” said Aki Karja, head of Fairstead Ventures, the PropTech arm of Fairstead, a New York-based developer specializing in affordable housing.

“It’s not something you can really do ad hoc. You need to set up champions in your organization who are responsible for seeing the pilot through to success, and this can become very complicated.”

Identifying champions within your team will help not only give your pilot program some internal momentum, it’ll also make collaboration a lot easier for your future PropTech partners. A big part of this is understanding how inherently friendly your organizational structure is to nimble partnerships like tech pilots. If you’re at a major real estate company with levels of bureaucracy, you may find it difficult to get buy-in, and represent all of your stakeholders’ concerns. For a pilot to be effective, “you need to get buy-in from a lot of people,” Aki said.

Identifying a strong pilot partner

With your ducks in a row, finding a pilot partner will be much easier. The more you engage with the PropTech community as a real estate firm, the more startups you’ll have reaching out to you, hoping to partner. HLC Equity, a multifamily investor based in Pittsburgh, also runs the tech conference PropTech360. This has led to many PropTech firms contacting HLC to discuss partnership opportunities.

David Molitor, head of operations for HLC, said that his firm has a few high-priority criteria any tech solution needs to meet if it is to be considered. “How does it work in our portfolio, at our size, in our locations? The next big item is whether it integrates with our existing technology systems.” If it checks these boxes, David said that’s when he would consider a demo, and speak with other users of the system to get their feedback.

Once you get that far in the process, it’s critical that you give the pilot the bandwidth it deserves. “You have to bring the startup founder under the hood and with them look very pragmatically at the problem, what the solution is, and how much money it will take. It’s a very long sales cycle,” Aki said. “Once you gain that conviction on both sides, that there is a value add and a path to something reasonable, you can move forward.” If this process reveals fit, you’ve likely identified your next pilot partner.

As a real estate professional, you may wonder if there are negotiating table faux pas to be aware of when making first contact with a startup. Aki said he doesn’t worry too much about concerns like that. “If it’s an interesting project that will generate value for us while being good business for the startup, I’m certainly interested,” he said. “A lot of startups are founded by very smart engineers. They are not marketing people and what they lack is developing the value proposition for their product. Through discussion, we can help them understand that value proposition from our perspective. Even if the discussion doesn’t amount to anything, this is still a learning process for the startups we partner with.” At this stage of the partnership, trust and openness is very important. You’ll need to rely on your tech partner to communicate and perhaps  iterate in a direction that aligns with your goals, and they will need to trust you to be upfront with your feedback and stick with them through potentially challenging implementation roadblocks. Beginning the relationship with a guarded, overly protective perspective is a recipe for failure.

Ideally, the first contact between real estate firm and PropTech team will be more of a low-key informative chat and less of a sales pitch. Wouter Merkestein is CEO of laiout, a PropTech startup that produces automated floorplans for architects and property companies. “We’re PhDs and physicists, not some big sales engine,” he said.

“For us every conversation starts casually: ‘‘We are a bunch of people very excited about actually solving this problem. We were told it is of significance for similar companies to yours and someone mentioned you might be interested. Can we have a chat to see if we could make this tool work for your workflow?’”

This kind of to-the-point early discussion of problems and goals is important for boosting your chances of pilot success.

In terms of vetting specific startup partners, there are few one-size-fits-all red flags to be aware of ahead of time. However, you should keep in mind the risks that your tech partner may be exposed to. Daniel Farber, CEO of HLC Equity, said that you will occasionally see tech companies that are dependent on venture funding fail as a result of being unable to raise a round. “If they close, where does that leave our data, especially with regard to security? When the market was going up people weren’t really thinking about it, but people are thinking more about downside protection now.”

Finally, when you’re going into your first pilot, be aware of timing. One of laiout’s pilot partners is Areim, a large Nordic property owner. Philip Knis, junior asset manager with Areim, explained that “One crucial factor to consider when we are piloting a tech tool is the element of time. We typically establish clear timelines and deadlines to keep the pilot on track and ensure that all stakeholders have sufficient time to provide their feedback. Real cases or applications of the tool also provide a sturdy foundation for evaluation, enabling a better understanding of the tool’s functionality and limitations, and empowering us to provide more constructive feedback.”

Opportunities and pitfalls during the pilot process

With a partner in place, the pilot can begin in earnest. Depending on your business and the type of technology in play, this may be as simple as gaining access to a web-based platform or as complex as working through an on-site hardware system install.

During the pilot, you should be constantly measuring the costs and benefits of the tool being trialed. You also have an opportunity to embrace organizational best practices even before concluding the pilot. If an IoT pilot reveals an opportunity for substantial energy savings outcomes, that is a lesson that you may want to internalize and explore, with or without your pilot partner. Aki suggested focusing in particular on identifying opportunities to boost your measurement and control capabilities, in that order.

The best way to avoid subpar outcomes during the pilot itself is to deliberately stay in very close contact with your tech partner. Consider establishing a cadence of touchpoints at the beginning of the engagement, and then sticking to it over time, using each call as a chance to collect new information and represent the perspectives and feedback of your internal stakeholders.

Winding down a pilot: outcomes

The ideal result for a pilot is the long-term implementation of the tool being trialed. Of course, this is not always the outcome. If you realize that your pilot is not yielding satisfactory returns, it may be time to consider a parting of ways with your partner.

If the time comes that you need to end your pilot, don’t necessarily consider it a failure. A pilot that fails to convert into a long-term partnership could be indicative of misaligned needs more than a specific failing on either party’s side. For Aki, a discontinued partnership is still a chance to educate and guide the startup partner. “Explain what is missing in what they offered. That is hugely valuable for them.” Wouter, of laiout, agrees with Aki’s assessment, saying that he goes into pilots hopeful but not assuming a sale is the most likely outcome. In the event of a pilot failure, “I’d like to know what would make them happy,” he said. Property firms, take note: Even while parting ways you have an opportunity to add value to a once, and perhaps future, partner.

If your first pilot doesn’t meet expectations, don’t be discouraged. Make a frank assessment of where things went off track. Was there a misalignment in terms of desired outcomes, or was it simply a failing on the part of one party or the other? If you find that your pilot program lacks support throughout your organization, and that you have to pull teeth to get stakeholder engagement, consider cutting your losses and holding off on future pilot engagements until you

can marshal more internal support. Otherwise, once you’ve internalized the lessons of your first pilot, it’s on to the next one.

Conclusion

Every PropTech pilot program will be different based on the unique DNA of the real estate company running it. Nonetheless, these best practices are relevant regardless of your particular niche, strategy, or market.

If there is any final take away from the conversations we had with experts on both sides of the pilot, it’s the importance of communication. If you communicate with your tech partner thoroughly from day one, setting clear expectations and then staying in contact on what is working and what is a pain point, you stand the highest chance of turning a short-term pilot into a long-term boost to your business.

Source: geekestateblog.com

Posted in: Paying Off Debts Tagged: About, actual, ad, affordable, affordable housing, All, Applications, ARM, assessment, asset, before, Benefits, best, best practices, big, Blog, Built World, business, Buy, CEO, chance, clear, collaboration, communication, companies, company, data, developer, energy, energy savings, engagement, engagements, equity, estate, event, existing, expectations, experience, experts, Financial Wize, FinancialWize, foundation, friendly, future, goals, good, growth, guide, helpful, Housing, in, install, Investor, IoT, jump, lessons, low, Make, making, market, Marketing, money, More, Move, Multifamily, needs, negotiating, new, new york, Operations, opportunity, or, organization, Other, Partnerships, party, pilot, pittsburgh, place, play, portfolio, project, property, Proptech, protection, Raise, Real Estate, returns, right, running, sale, sales, savings, security, short, Side, simple, smart, stage, startup, startups, story, Strategies, Tech, Technology, time, timing, traditional, trust, under, unique, value, Venture funding, will, work, working

Apache is functioning normally

June 6, 2023 by Brett Tams

Hello, GRSers. Today, let’s revisit something I tacked on to the end of my nine lessons from The Millionaire Next Door:

[T]here are actually two benefits of learning to live on much less than your paycheck.

  • The first, of course, is that you can save more.
  • But secondly, it also means that you ultimately need to save less.

Permit me to demonstrate.

Someone who makes $50,000 but lives on just $40,000 can contribute $10,000 a year to her nest egg, and can retire when that nest egg is big enough to generate — along with Social Security and other benefits — $40,000 a year. However, someone who makes $50,000 but spends, say, $48,000 is contributing just $2,000 to a portfolio that must eventually help provide $48,000 a year in retirement. In other words, she’s saving less yet needs to accumulate more.

I thought I’d add some heft to this argument by drawing out the illustrations with some calculations (yay, math!), as well as add a third hypothetical person with a savings rate in between the aforementioned folks.

Save Now, Profit Later

Let’s assume we have three 40-year-olds who each earn $50,000. Here’s how they look in 2011:

  Investor A Investor B Investor C
Annual living expenses $40,000 $45,000 $48,000
Annual savings $10,000 $5,000 $2,000
Savings rate 20% 10% 4%
Savings rate is the percentage of income contributed toward retirement accounts.

Besides their ages and salaries, let’s assume they’ll also experience the same rate of inflation and wage growth (both 3% annually) and investment returns (8% annually). Finally, they each would like to retire at age 67, when they will be able to claim full Social Security benefits.

Note: Yes, I know we can argue about the assumed inflation rate and investment returns. Let’s not, though. They’re incidental to my main point here, which is comparing investors with different savings rates. Whatever inflation and investment returns the future holds, they will affect these investors identically.

Now, let’s fast-forward 27 years. Thanks to raises, each of our three guinea pigs earns an annual salary of $111,064. But they’ve maintained their savings rates, and thus their annual expenses (since they’re just different sides of the same 11,106,400 coins, assuming those coins are pennies). Here’s how things will look at the end of 2037.

  Investor A Investor B Investor C
Annual expenses $88,852 $99,958 $106,622
Portfolio value $1,245,623 $622,811 $249,125
Income coverage ratio 14.0 6.2 2.3
Income-coverage ratio is the portfolio value divided by annual expenses.

As you can see, the super-saver has more than a million dollars, quite a bit more than the other two investors. Furthermore, that portfolio is 14.0 times Investor A’s annual expenses; in other words, not factoring in investment growth, inflation, or any other retirement income (such as Social Security), Investor A’s portfolio could cover living expenses for fourteen years.

The other two portfolios would only last 6.2 and 2.3 years. This is mostly due to Investor A having a bigger portfolio, but it’s also due to Investor A needing less each year because she’s learned to live on a lower level of annual expenses. This is why living below your means is like saving for retirement twice: It allows you to contribute more to retirement accounts, and you can retire sooner because you need to accumulate less to cover your expenses in retirement.

Still Not Enough?

Thus ends the lesson about the whole “saving for retirement twice” concept. I hope you enjoyed the show.

For those who wish to continue, we’ll address another question: Does Investor A have enough to retire, even after saving 20% of income for 27 years? The answer: It depends. If Investor A were a real-life person on the verge of retirement, I’d recommend 1) a thorough retirement-plan analysis, and 2) a psychoanalysis of her parents for naming her Investor A. But since this is a blog post and there are plenty of funny YouTube videos to vye for your viewing (such as this one), we’ll do some simple calculations (yay, more math!). It involves two numbers:

  • Four percent of $1,245,623 or $49,825: Financial-planning geeks (and the people who love them) know the “4% rule,” which is a guideline for how much of a portfolio a retiree can spend in the first year of retirement. It’s just a rule of thumb, with plenty of quibbles. (For an explanation and some of the criticisms, read this from Vanguard’s John Ameriks.) But it serves as a good baseline for our purposes.
  • The future, inflated, annualized value of Social Security benefits, or $55,668: That’s the number I got from using the Quick Calculator from Social Security Online.

Add them together, and you get $105,493 — a good bit more than the $88,852 Investor A needs to cover living expenses. Perhaps she, being the great saver that she is, could retire before age 67.

But wait! That assumes she’ll receive her full Social Security benefit as currently estimated, and everyone knows that the program is bankrupt and all she’ll receive is “10% off” coupons from Denny’s. That leaves her with just that $49,825 — only half of what she needs.

Well, not quite. As I’ve written before in these cyber-pages, you will receive something from Social Security — but it’s prudent to assume it’ll be less than currently projected. The Social Security Administration estimates that future payroll taxes will cover approximately 75% of scheduled benefits in 2037. Let’s play it safer and assume Investor A will get just half of her benefit, or $27,834, for a total retirement income of $77,659. That’s still less than $88,852.

This is where that “thorough retirement-plan analysis” would come in. Could Investor A get by on less than $88,852? Can she downsize to a smaller home? Could she work just a few years more (by delaying Social Security to age 70, her benefit will be more than a third higher than if she takes it at age 67) or work part-time (and thus retire part-time)? She likely has a few options, which are more numerous and will entail less sacrifice than those available to Investor B and Investor C.

But even they have more options than Investor D, whose situation looks like this:

  Investor D
Savings Rate 0%
Portfolio value $0
Chance of retiring 0%

If you can’t save 20% or even 10% of your income, save what you can, as soon as you can. You’ll always be better off than someone who doesn’t save anything.

Source: getrichslowly.org

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Apache is functioning normally

June 5, 2023 by Brett Tams

Is fear stopping you from starting a new business or side hustle?

Almost every day, I receive an email that goes something like this: “I am afraid to start my side hustle and put myself out there. How do I get over this fear?”Woman sitting at table reading a book

Woman sitting at table reading a book

This is a common fear for anyone starting something new.

Today, I am interviewing my friend Christine on ways to overcome your fears when starting a new side hustle or business. Plus, I ask her other mindset and productivity questions I often hear.

Christine is a former full-time blogger turned certified life coach, freelance writer, and online marketer. She has tried a variety of side hustles and online businesses, and she is here today to share helpful advice to get you started with your business or side hustle. Christine is also the creator of The Harbor, a life coaching monthly membership specifically for online entrepreneurs.

Some of the questions I ask her include:

  • How can a person decide if a side hustle or business is for them?
  • How can someone get over their fears of starting a business and actually begin?
  • What’s the best planning method for productivity?
  • How can entrepreneurs create better work-life balance?
  • How can someone stop being overwhelmed when starting a new business?
  • What do you think a person should do if they are feeling burnout from their side hustle or business?

And more!

Starting a new business or side hustle can lead to many questions and fears, which can prevent people from pursuing their dreams and finding ways to make money.

With today’s article, you will learn how to overcome your fears and take the necessary steps towards starting a successful business or side hustle.

Please enjoy this interview.

Mindset and Productivity Tips For Starting A New Business

Please give us a little background on yourself and what led you to become a coach.

After college, I was stuck in jobs that paid barely above minimum wage. I didn’t have any valuable work experience or skills. And shockingly, my arts degree was not a money maker 😅.

Eventually, I started blogging on the weekends as a creative outlet from my soul-sucking full-time job. I eventually was able to replace my full-time job income (Thanks in part to your Making Sense of Affiliate Marketing course! I enrolled when you first launched it). 

I spent four years as a full-time blogger and as my blog and I each grew and evolved, I started to feel ready for a change. My blog provided a lot of step-by-step, actionable advice. I saw over and over again that my readers weren’t creating lasting change in their lives because there wasn’t a deeper mindset shift. 

This is what led me to pursue coaching. I wanted to learn how to help people use their minds to create lasting change in their lives. 

Instead of keeping my blog and transitioning it to this new niche, I decided to sell it, give myself time to immerse myself in an amazing coach certification program, and start fresh with a brand new coaching business. 

What side hustles and online businesses have you tried in the past?

I often feel like there’s not much I haven’t done! 

I tried my hand at proofreading but realized it wasn’t for me. I’ve created low-content journals for Amazon KDP (super fun!). I’ve just barely scratched the surface of selling Canva templates on Etsy.

With my blog I pursued many forms of income:

Because of my blogging experience, I’ve been able to do some amazing side hustles. 

I’ve done a good amount of freelance writing. This has been a good income source for me. However, I find it quite mentally taxing, so I can’t do a large amount of it. 

I still have a few very part-time virtual assistant clients. I enjoy the variety of virtual assistant work and getting a peek into how other people run their online businesses. Plus, the pay is good! 

I also do marketing work for a mid-sized literary company. 

Because I was a one-woman show and did everything myself as I built my successful blog, I’ve found that I have a lot of valuable skills! My successful side hustles have come because of my blogging background. 

What do your thoughts and emotions have to do with making money?

Everything! If you want to make money, learning to manage your thoughts and emotions is extremely important. Especially for side hustlers and entrepreneurs. 

Here’s how our lives basically work:

Our thoughts create our emotions. Based on our emotions, we take action (or don’t). Our actions create the results we have in our lives. In this case, the result would be making money (or not). 

Thought ➡️ Emotion ➡️ Actions ➡️ Result

When we talk about making money, we’re usually focused on our actions and results, right? But our actions are created based on our thoughts and emotions. 

So! An example: 

You want to send a series of three sales emails to your list to make money. Making money is the result that you want. 

If your thoughts are things like: I don’t want to bother people, people will think I’m pushy, or tons of people will unsubscribe, you’ll probably feel timid.

When you feel timid, what actions do you think you’ll take? You might procrastinate, send one email instead of three, and come across as apologetic instead of confident.

The result of your actions is likely going to be that you don’t make much money from your email list. 

So just to sum it up, here’s what happened:

Thought: I don’t want to bother people.

⬇️

Emotion: Timid.

⬇️

Actions: Procrastination, sending fewer emails than planned, apologetic vibe.

⬇️

Likely Result: I don’t earn much money. 

But what if you had a different thought? Maybe you intentionally choose to think: What I’m sharing has the potential to help my readers immensely. That is going to lead to very different emotions, actions, and results. 

Thought: What I’m sharing has the potential to help my readers immensely.

⬇️

Emotion: Excited.

⬇️

Actions: Write emails with confidence from a place of wanting to help people, send all three planned emails because I don’t want anyone to miss this valuable information.  

⬇️

Result: I follow through with my plan, serve my audience, and (probably) earn money.

Our thoughts and emotions completely change how we show up for our businesses. This massively influences the amount of money we make as well as our daily experience of being an entrepreneur. 

How can a person decide if a side hustle or business is for them?

I think that alignment is the key. There are endless ways to make money and everyone will tell you that their way is the best and for good reason–it worked for them! But it worked for them because it felt in alignment for them.

I am extremely introverted and have tried to follow methods from extroverted entrepreneurs for gaining clients. While I had a bit of success, I hated every second of it because it was so darn draining for me! 

To decide if a side hustle or business is right for you, it’s important to think about the actual day-to-day work you will be doing, not just the result you’d like of making lots of money. 

If you enjoy the daily tasks, you will be more likely to succeed. You’ll make more money AND enjoy the process. 

How can someone get over their fears of starting a business and actually begin?

I love this question because I’ve seen it come up since the day I started blogging.

I’d see new bloggers spend months trying to make their website look just right and get every single little element in place and then get super panicked about making their website public. 

Side note: Making your website live does not mean 10,000 people are instantly going to find you (if only!). Your website can be live the entire time you’re working on it. Almost no one is ever going to see it until you start really marketing it. 

So much fear comes from perfectionism. This is not about wanting everything to be perfect because we have high standards. It’s wanting things to be perfect so that we can protect ourselves from all possible criticism. 

There are two things that most experienced entrepreneurs know:

  1. Nothing will ever be “done” or “perfect”. Your business will always be growing and changing. So press publish, share it on Facebook, and tell the world about it. Striving for perfection stops you from making money and helping people. 
  2. What you do is not for everybody. Criticism can actually be a good thing. It means that what you’re doing is not bland, safe, and boring. It is memorable and will likely help you gain raving fans! 

Yes, it can feel vulnerable to start a side hustle or business. This is another reason why learning how to manage your thoughts and emotions is a powerful skill. 

If you have the desire to try something, I hope you will honor that desire and do it! Nothing is ever wasted. No matter what happens with your venture, the skills you learn along the way will be valuable and may lead to bigger and better things later on. 

What’s the best planning method for productivity?

I get this question a lot and the answer is: whatever works best for you in this phase of your life as long as you use the 4 keys I’ll share below. 

I spent years getting epic amounts of stuff done by using time blocking to schedule my weeks. However, a year and a half ago, my husband became unable to work due to chronic illness and I became his caregiver. 

Suddenly, time blocking did not work for me at all because I never knew how much assistance my husband would need each day. I needed a planning method that offered more flexibility. 

Some weeks, I use a good old-fashioned to-do list. I also have developed a planning method called the Check-Boxes Method that I use quite often. And sometimes I use a more simplified version of time-blocking. 

Any planning method can work, but it needs to incorporate these 4 keys:

  • Strategy: having an end goal for every single task on your schedule.
  • Prioritization: decluttering your schedule so that you’re doing the few things that make the most impact. 
  • Working distraction-free: everyone knows they should do this, but hardly anyone does.
  • Daily power hours: scheduling a chunk of time each day to do all the little stuff so that you free up more time for focused work. 

(I go into each of these in more detail within The Harbor’s foundations course.)

If you feel like you can’t find the right planning method for you, it’s probably because you’re missing one or more of these keys. The method matters much less than the execution. 

How can entrepreneurs create better work-life balance? 

The #1 most important thing to do if you want to create better work-life balance is to define what that means for you. 

The term work-life balance is really vague! It conjures up images of one of those banker’s scales where you have to have exactly the same amount of weight on each side for it to be balanced. But work-life balance is more about intentional imbalance than 50/50 balance. 

There are weeks when we spend tons of hours working and times when our personal lives take higher priority. The key is to have this happen on purpose. 

So what does ideal work-life balance look like for you? 

  • Is it working 35 hours per week? 
  • Is it never working at all on the weekend? 
  • Is it working 60 hours this week so that you can fully unplug for an upcoming vacation?

Work-life balance can be about where your thoughts are. 

For me, work-life balance is mostly about my mindset and being intentional. I want to be “all in” on whatever I’m doing. 

  • If I’m watching TV in the evening, I want to be all in. Single-tasking. Not also scrolling on Facebook or checking emails. 
  • When I’m working, I want to fully focus on one task at a time with as many distractions eliminated as possible. 

Here’s a journaling exercise for you: What do you imagine your life would look like if you had perfect work-life balance? Out of your answer, what can you do today (even if it’s little) to start incorporating better balance into your life? 

This exercise is worth repeating regularly. Maybe ideal balance this month looks very different than it did last month because of the life changes you have going on. 

How can someone stop being overwhelmed when starting a new business?

Learn one new skill at a time and ignore 99% of the advice out there. 

It’s sooo easy to get overwhelmed when you’re starting out. There can be a lot of new skills to learn and every piece of advice will tell you 21 more things you need to do to be successful. 

When I started out as a blogger, I focused completely on creating a regular posting rhythm. I just wrote and posted blog posts weekly. That’s it. 

Once I felt comfortable with that, I learned Pinterest marketing and incorporated that into my schedule. So I was writing blog posts and marketing them on Pinterest. That’s it. 

Each time I got comfortable with a skill, I learned something new: Creating an email list, adding affiliate links to my posts, creating digital products to sell, etc. (Not the order I would recommend doing these things in anymore, BTW.)

Whatever business you want to create, you don’t have to come out of the gate with every ideal element up and running. This is a marathon, y’all. You’ve got to be in it for the long haul.

Also, if you want to buy a course to learn a new skill, buy one course and incorporate everything you learn from that course BEFORE buying another course. One thing at a time! 

What do you think a person should do if they are feeling burnout from their side hustle or business? 

Oh man, this is such a big important topic for entrepreneurs! I’ll just dive into one aspect of it that I see most often in my clients. 

Someone experiencing burnout should work on improving the quality of their rest and downtime. Us entrepreneurs and side hustlers have a tendency to always be half-working. 

We work while we’re watching TV, check our email throughout the weekend, and respond to social media comments as we’re getting into bed. 

This means that we’re never fully “off the clock” and we have a really crappy quality of rest and downtime. 

Surprisingly, rest can be super uncomfortable! Our brains often tell us that it isn’t safe for us to rest. You might have thoughts like:

  • I should do more.
  • I could be doing…
  • I haven’t gotten enough done yet.

When you’re thinking about all of the things you could or should be doing, resting brings up underlying fear and anxiety. That’s OK! This is an opportunity to feel your emotions, allow them to be there, and then redirect your thoughts to ones that will serve you better. 

Some ideas of intentional thoughts for your downtime are:

  • It is safe for me to relax.
  • I am allowed to rest. 
  • Rest is good for me even when it doesn’t feel amazing. 

Creating more separation between work and downtime helps us recharge and recover from burnout. You need time to be fully off the clock–even if it’s just for two hours before bed. The quality sometimes matters more than the quantity. 

Side note: Your best business ideas will probably come to you when you’re fully disconnected from work. I get amazing ideas in the shower. When your mind is free to wander, it comes up with fabulously creative plans. 

What other tips do you have for someone who wants to start side hustling or start their own business?

Just do it! 😂

Honestly, my tip is to stop looking for tips and start taking messy action. Do it wrong. Do it badly. Consider every part of it an experiment and a learning process. 

You can’t research your way to success. 

Picture of Christine on a hike

Picture of Christine on a hike

What can a person learn from your coaching membership? How would this benefit someone looking to start a business or side hustle? Can you tell us about some of the people who have successfully taken this?

The Harbor is for online entrepreneurs who want to step into mindful productivity. I show my clients how to earn more while doing less by zeroing in on the tasks that will truly move the needle in their businesses and then making those happen. 

A huge part of this process is learning how to process your emotions and choose thoughts that serve you. It’s this deeper work that most people don’t want to do. But it leads to success that is anti-burnout and anti-busyness. 

If you’re just starting your business or side hustle, you will learn so many foundational skills that will help you set up a sustainable business: reducing overwhelming, creating a doable action plan, time and energy management, taking action from an empowered mindset, and more.

Some client-favorite topics that I coach on include:

  • Creating Your 1-Hour Growth Plan
  • Quality Rest and Downtime
  • Setting and Sticking to Boundaries
  • Overcoming Procrastination
  • Accountability
  • Time Management Methods

Workbooks are included in the membership so that everyone can apply the lessons to their unique situation. Plus clients can always get one-on-one help through weekly group coaching calls and unlimited written coaching. 

I work with online entrepreneurs and side hustlers just starting out as well as established entrepreneurs that are working on expanding their teams. Bloggers, virtual assistants, life coaches, writers, and more. 

I’ll share a few results directly from my clients:

“In just a few months I have gone from burnt out and overwhelmed to excited about my business and working on the things that are really going to move me forward in the direction of my goals. The Harbor has really helped me to get clearer on how to balance my business and personal life.” ~ Kayla, Virtual Assistant

“Each week I left with systems to implement that freed up more of my time. With the time that I was able to reclaim, I was able to work towards getting ideal clients. Not only was I able to get two new ideal clients, but they were booked at my highest fee pricing yet.” ~ Cassie, Pinterest Manager

“I realized during our sessions that I wasn’t working strategically, and even though I was busy, I wasn’t doing the things I needed to in order to get results… My biggest wins were getting new clients and seeing that I had everything I needed to keep making that happen.” ~ Shayna, Life Coach

“I was struggling with putting too many tasks on my weekly to-do list and feeling bad about not getting more done. Now, I have a streamlined weekly schedule that makes me focus on only the most important tasks with less guilt over what I’m not getting done.” ~ Jessica, Blogger

“I struggled with figuring out how to scale my business. I was mentally exhausted and so stressed at the end of each workday, and couldn’t see how I could take on any more work or clients. I enjoy my work far more with the new systems and am scaling my business to levels I never thought possible.” ~ Erin, Email Marketing Specialist

Most entrepreneurs and side hustlers think that they need to learn a new strategy to earn more money. What they actually need is to learn skills like mindful productivity, how to overcome procrastination and overwhelm, and how to do fewer, high-impact tasks. 

I often tell people that you don’t need to learn a new strategy. You know enough. You need to fully apply and incorporate what you already know. That’s what The Harbor is all about. 

You can learn more about The Harbor by clicking here.

What’s holding you back? What questions do you have for Christine?

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Source: makingsenseofcents.com

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Apache is functioning normally

June 3, 2023 by Brett Tams

INSIDE: Need help knowing how to budget? This step-by-step guide will help you create a budget that actually works. Includes free printable budget spreadsheet template!

This post may contain affiliate links. That means if you click and buy, we may receive a small commission. Please see our full disclosure policy for details.

When you’re trying to pay off credit card debt or save money, you’ll hear it time and again: “You need a budget.” But if you’ve never created a budget, the mere thought may make you want to run and hide. Making a spending plan that works is not hard, however, if you have someone to help you.

create a budget that works

create a budget that works

If you’re ready, I can help. Below you’ll find step-by-step instructions to follow to create your budget, whether you’re a beginner or have budgeted in the past.

You can use a pen and paper with our printable form or software for online budgeting.

Improving your money management skills doesn’t just mean spending less. It also means learning about your spending habits and making changes.

A few tweaks may help you pay off your debt and reach long term goals, such as saving for retirement.

MY BUDGET JOURNEY

I know it can be terrifying to really look at how you spend your money. Trust me, I’ve been in your shoes. But I’ve learned that the things that were the most challenging in my life have led to the biggest rewards.

Declaring bankruptcy was a low point for me. But it also taught me many valuable lessons about personal finance. Most importantly, I learned why I must have a budget.

My husband and I used to have a “bare bones budget.” Except it wasn’t, really. Rather, it was a piece of paper where I’d write down who I had to pay every month, so I didn’t forget.

When we began our journey to become debt-free, we had to look at all aspects of our finances. One thing we did was sit down together to create a budget.

Seeing our expenses and income in writing for the first time still sticks with me. I remember being in tears. It was shocking to see that we had not been in better control of our money.

Creating a budget made us acknowledge where we were, and we realized that we didn’t like what we saw. It instantly provided us with a goal: We wanted to make positive changes and get out of debt. It took time, but we did achieve our goal (and that was one of the best moments of my life).

I am going to be blunt here. Creating your first budget and managing your money with it will bring significant challenges your way.

But I can guarantee that it will be worth it in the end. Just wait until you can finally control where your money goes instead of the other way around. It is liberating.

Before we begin, you can download our free budget form by clicking on the pink box below.

If you want something more high-tech, I recommend You Need A Budget (YNAB) or EveryDollar. These are apps I’ve tested and reviewed. Both work very well, so I’m confident recommending them to you.

WHAT IS A BUDGET?

A budget is a plan that lists your estimated income and expenses for a specific period of time. Most people use a monthly budget period. Budgets are helpful for everyone, no matter what your financial situation is.

Tracking your spending in the past helps you predict your future cash flow so you can start saving more.

WHAT SHOULD BE INCLUDED IN A BUDGET?

It’s important to include every dollar you earn and spend when making a budget. Tracking your income is easy, but your budget should also include spending categories. Some you need to remember to use include:

Your list may include more categories or fewer. Our budget template includes categories that will cover just about anyone.

Read more: The categories you need to include in your budget

HOW TO CREATE YOUR BUDGET

Now that you have your categories, it’s time to start filling in the numbers. Follow these instructions to prepare your budget.

Step 1: Gather Necessary Papers

Before you begin, be sure you have all the things you’ll need. These include (but are not limited to):

  • Bank statements, including debit card payments
  • Pay stubs
  • Credit card statements
  • Utility bills
  • Monthly bills from various stores
  • Personal/vehicle loan information

Step 2: Calculate Your Income

Next, look at your pay stub(s). Your budget should reflect your monthly income. If your paychecks come more frequently than once a month, some simple calculations are necessary to come up with an accurate monthly income.

Here are some formulas to help you:

  • If you’re paid biweekly (i.e., every other Friday), add four pay stubs and divide by two to get your average monthly income.
  • For monthly pay, you can use the income you see if the amount listed for each pay period is the same. Otherwise, add three or four months’ worth of income and divide by the same number of months.
  • If you’re paid weekly, take the total of four income periods.
  • When you’re paid hourly or on commission (i.e., your income fluctuates), add your last four months of salary and divide by four to reach an average. If your income varies frequently, you’ll need to adjust your budget more often than someone with a regular income. You may also want to follow our tips for creating a budget with irregular income.

Step 3: Determine Fixed Expenses

You must make certain payments, such as your mortgage or rent, insurance premiums and car payments, on a regular basis. These recurring expenses are usually a fixed amount.

If your bill varies slightly each month (for instance, if your utilities aren’t on a budget billing system), take the past three months’ worth of statements and average them to get your estimated payment.

You can use a spending form to figure out the exact amounts to include in your budget. For example, say your October gas bill is $45.79, your November bill is $52.95, and your December bill is $49.22.

Add those three numbers and divide by three to reach your average (in this case, $49.32). I recommend you look at the months when your utility bills are the highest. For instance, you may use more gas or oil in the winter, so use those months as the basis for your budget.

One of the most important rules of personal finance is to pay yourself first. Do this by adding categories for saving. You need to save for a rainy day as well as for long term goals, such as college or retirement.

You can set up automatic transfers each month from your checking account to a savings account for your emergency fund (aim to build up at least three months’ worth of living expenses). If you have a retirement plan at work, such as a 401(k), your money is automatically withdrawn from each paycheck before you get it.

Step 4: Calculate Discretionary Expenses

Your discretionary expenses include those that vary more, such as food, gasoline and clothes. Treat them the same way you treated the gas bills described in step 3. Make sure you take the average of three months’ spending to get the figures to add to your budget.

Be sure to include occasional expenses, such as car repairs and maintenance. The goal is to pay these bills with your regular income instead of running up credit card bills.

Step 5: Fill in the Numbers

Transfer the figures you’ve calculated above to the appropriate spots on the budget form or spreadsheet. Put your monthly income at the top, followed by the amounts for each expense category.

The categories listed on our form are a guide for tracking your spending. You can add categories that aren’t included or ignore the categories you don’t need.

Add all your income and all your expenses. Then subtract your expenses from your income. The result should be zero. If it’s not, then figure out the changes you need to make.

  • If your total is a negative number: You’re spending more than you earn. Reduce your spending until the total reaches zero.
  • If your total is a positive number: You haven’t spent everything you make. Either increase your debt payments or your savings.

FINE-TUNE YOUR BUDGET

After you complete your budget for the first time, you may feel discouraged. As mentioned above, it happened to us. But once we started to rework the numbers, I began to feel better. I began to feel like I could live with a budget. It was tough, but nothing in life worth having is easy!

To balance your budget, first look at your fixed expenses. One I always like to mention is cable. We found out we were paying way too much and found a way to cut the expense in half. (As much as we would like to cut the cord entirely, we’re not yet there.)

Perhaps you could do the same and sign up for a lower-cost cable plan to free up some income. There are many other ways to reduce your monthly expenses, such as reshopping your insurance or refinancing your mortgage.

Once you’ve cut back your fixed expenses, it’s time to look at your discretionary spending. Perhaps you’re eating out a bit too much, so your budget takes a hit. You may even be overspending on shoes. These are areas where you might need to scale back to balance your budget.

Making these decisions isn’t fun, but consider what is more important: paying off debt or buying a bigger television. These are choices only you can make. But if you’re willing to scale back now and pay off debt, it will be worth it when you can buy that new TV or those new shoes without guilt!

If you’ve scaled back on everything you can and your budget still doesn’t balance, make some calls to your debtors. Ask for a reduced interest rate or a lower minimum payment on your credit cards. You never know what they will accept until you make those phone calls.

My husband and I wanted to get out of debt, so we decided that we wouldn’t eat out as often. For more than two years, we ate dinner out no more than 10 to 20 times a year. We saved a lot of money, which we used to pay off debt. It was challenging, but the result was well worth the temporary sacrifice.

WHAT TO DO ONCE YOU HAVE A BUDGET

First of all – congrats! You now have a budget you can use. You should revisit and update your budget at the end of each month.

After a few months, you probably won’t need to make any changes. But if you get a raise, have an added expense or finally pay off your car, that will require a shift in your budget numbers. Remember that your budget must always end in zero!

Creating a budget isn’t easy, but once you have one set up and continue to refer to it, it will pay off. You’ll find it helps because you are now telling your money where you want it to go rather than it telling you where it is going each month. Financial control is a fantastic feeling.

how to budget for beginners

how to budget for beginners

Source: pennypinchinmom.com

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Apache is functioning normally

June 3, 2023 by Brett Tams

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.


The numbers never cease to amaze me.

In fact, I’ve always been a fan of comparisons because they help us understand how we compare to others and what areas in life are more important.

However, should you compare yourself to those with 10 figures?

I was recently asked the question, “How much is 10 figures salary?” and my first thought was well beyond 99.9% of people’s salary range.

So then I had to ask this person what they meant by “10 Figures.”

This led me on a journey of figuring out exactly what 10 Figures means when it comes to money.

Many people are curious about the value of a 10-figure career. While it is not easy to become a 10-figure earner, there’s no reason you can’t start working toward your goal.

In this article, we’ll look at how much 10 figures really mean and why it’s important to understand this term.

How much is 10 figures? How much money does it take to make $1 billion or more? What does 10 figures look like on a paycheck or bank statement. Could 10 figures salary be yours?

What is 10 Figures?

10 figures is a term used to describe the amount of money in a given period of time. It is typically used to describe the amount of revenue that a company makes in a month or the amount of net worth someone has.

A number that is over 1,000,000,000 but less than or equal to 9,999,999,999 is a 10-figure number.

If the number is between those two values then it is a ten-figure number.

What is a Ten Figure Number?

Picture of a pile of cash for what is a ten figure number.

Ten figures refer to any number that has 10 digits.

They are important for many reasons, but some of the most important include being able to easily calculate someone’s wealth or income.

How Much Money is 10 Figures?

Picture of someone holding lots of 100 dollar bills

Earning 10 figures can mean earning anywhere from $1,000,000,000 to $9,999,999,999.

That number is unfathomable for most people earning six figure salaries, which are often viewed as an income milestone by many people.

Simply put, 10 figures in money equates to a billionaire dollars.

Individuals who earn ten figure salaries are usually uber-successful in their careers.

What is 10 Figures Salary?

A ten figure salary means in one year you make more than $1,000,000,000.

Earning a 10 figure salary does not mean you have to earn all of your income from one job source. You can also earn income from investments, royalties, and other sources.

There are many different jobs that can lead to a 10 figure salary. It is possible for anyone with the right qualifications, dedication, hard work, and skillful negotiation tactics to achieve this level of income.

For the common folk, earning a 10 figure salary is an extremely unlikely event. A more doable amount is a $100k salary.

However, if you want to become a billionaire and earn ten figures, by all means, go ahead.

Even earning six or seven figures in a year is a huge accomplishment.

How Much is Ten Figures a Year?

People will use the phrase “10 figures” when talking about how much someone is worth or how much money a business makes.

Ten figures is any number between 1,000,000,000 and 9,999,999,999 that is earned in a span of 365 days or one year.

10 Figure Salary Jobs

Silhouette of a businessman in a suit near the downtown skylight for 10 figure salary jobs.

A ten-figure salary is a salary that starts at the first 10 figure value which is $1,000,000,000.

This amount of money is not easily earned and usually takes many years of hard work and dedication. It’s important to remember that while having a high salary is great, it’s not everything.

Most people who earn 10-figure salaries created their own companies as a start-up and grew them into massive empires. These jobs can be found in a variety of industries, including technology, fashion, business, finance, and law.

To earn a ten-figure salary, you need to have an aggressive mindset and excellent skills in your field. With the right combination of talent and ambition, you can definitely achieve this goal.

For these people, a business degree was worth it.

Examples of people who earn 10 figures or more

People who earn 10 figures or more are typically some of the wealthiest and most influential people in the world. They often have a great deal of control over resources and economies.

There are only 724 people in the United States that are billionaires (source) with a collective total of over 2700 billionaires globally.

Here are examples of people who earn 10 figures or more:

Elon Musk

Well known for his social media tweets and swings in TSLA stock.

Elon Musk is the founder and CEO of Tesla Inc, a maker of electric high-end luxury cars.

Elon Musk is the richest person in the world, with a net worth of $223 billion as of February 28, 2022. He made his fortune as the founder of Tesla Inc., SpaceX, and several other startups. He is also known for being an advocate for renewable energy and space exploration.

Jeff Bezos

Jeff Bezos is the founder and CEO of Amazon.com, an online retailer that offers a wide range of products and services to consumers globally. In 1994, he founded the company with a vision to make the world’s largest bookstore and offer low prices for books. Bezos had worked on Wall Street in his twenties.

Jeff Bezos held the title of the richest man in the world with a net worth of about $203 billion until Elon Musk overtook his spot.

From 1998 to 2021, Bezos made $88,840 per year or more with extra compensation bringing the figure to a little over $1.6 million each year.

Bill Gates

Bill Gates is an American business magnate, investor, and philanthropist. He founded Microsoft Corporation with Paul Allen in 1975 in Albuquerque.

His net worth is estimated to be over $122 billion with a salary of $1 million per year.

Bill Gates was the richest person in the world for a number of years. However, he dropped to the second richest person in the world in July 2017 when he was overtaken by Amazon founder Jeff Bezos.

Melanie Perkins

Melanie Perkins is the co-founder and CEO of Canva, a design software company that was valued at $40 billion by private investors in September 2021. Perkins started the company in 2012 with her then-boyfriend and now-husband Cameron Adams. The company has since become a major player in the design world, with over 15 million users and offices in 17 countries.

Though some were skeptical of her idea, Melanie Perkins and her team persevered in the development of their freemium software, Canva. 60 million monthly users later, 500,000 teams from companies like Intel and Zoom are now paying for it. This goes to show that with hard work and a great product, anything is possible.

Her net worth is estimated at $6.5 billion.

Gina Rinehart

Gina Rinehart is an Australian billionaire, businesswoman, and philanthropist. She was the world’s richest woman until her daughter took over in 2018. Rinehart has been involved in the Australian mining industry for decades and was the director of Hancock Prospecting, a company her father founded.

Her net worth is estimated at $31 billion.

Susanne Klatten

Susanne Klatten is an extremely wealthy woman. Aside from her BMW stake, she also has significant ownership in Entrust, a company specializing in digital identity and data security, as well as carbon and graphite producer SGL Group. Additionally, Klatten’s brother Stefan Quandt owns 23.6% of BMW- making the two siblings the automaker’s two largest individual shareholders.

Susanne Klatten is the richest woman in Germany and the third-richest person in Europe.

She has a net worth of $25 billion.

Some of the other Richest People in the world include:

  • Larry Page
  • Sergey Brin
  • Warren Buffett – Check out where he eats for breakfast.
  • Bernard Arnault
  • Amancio Ortega
  • Carlos Slim
  • Micheal Bloomberg
  • Larry Ellison
  • Mukesh Ambani
  • Alice Walton
  • Arne Morris Sorenson
  • Charles Koch
  • Dara Khosrowshahi
  • Dustin Moskovitz
  • Eric Schmidt
  • Eric Yuan
  • Francoise Bettencourt Meyers
  • Oprah Winfrey
  • Kim Kardashian West
  • Jacqueline Mars
  • Abigail Johnson

10 Figures Net Worth

In short, becoming wealthy requires having a net worth of 10 figures. That will give you billionaire status.

To have 10 figures net worth, your net worth is over $1,000,000,000.

Net worth is assets minus any liabilities.

Much of the billionaire’s net worth is made up of high income, stock options, real estate, and diversified portfolios.

Tops Ways to Earn 10 Figures

The following are some of the top ways to earn a billion dollars in a year. Even if you don’t get close, you will still earn way more than a traditional 9-5 job.

There are many ways to become a 10-figure earner, but the most common paths are entrepreneurship, investing, and influencer status.

All of these paths have their own challenges and rewards, but they all provide opportunities for anyone who is willing to work hard and take some risks.

1. Entrepreneurship

Picture of an entrepreneur.

Entrepreneurship is the process of developing, launching, and running a new business venture. Entrepreneurs start a business with little or no outside funding in an attempt to generate profit for themselves and their investors.

They are generally risk-takers and may work long hours in pursuit of their vision.

There is no ceiling to how much you can earn as a successful business owner.

You can make a 10 figure salary if you are innovative and work hard. For example, one of the most successful billionaires has made their fortune by starting innovative technology companies. Additionally, there are many other opportunities for entrepreneurs such as franchise restaurants and clothing companies.

2. Investing

Investing is one of the most important aspects of becoming a billionaire.

Most of the net worth of billionaires is made from their stock options from when their company went public. Then, they slowly moved to a more diversified portfolio.

In addition, investing can be used to grow and protect wealth, and there are many different types of investments that can be made.

For the average Joe, investing needs to be crucial for growing your wealth. There are also many different ways to invest, so it is essential to find the right option for each individual.

Learn how to invest in stock for beginners.

3. Influencer Status

Influencer status is a term that refers to the type of person who has an influence on social media, through books, or in fashion.

Typically, influencers are individuals who have a large social media following and have the power to make or break products.

Becoming a media star is the first step, but it’s only likely to make someone a billionaire if they can leverage that star status into building successful businesses. For many celebrities, this means starting their own production companies, launching product lines, or creating exclusive content deals.

At 21 years old, Kylie Jenner is the youngest self-made billionaire in the world due to the success of her company, Kylie Cosmetics. The company was founded in 2015 and has since sold over $630 million worth of products. Jenner’s story is an inspiration to young entrepreneurs who want to make it big.

Now, Take Some Lessons from Billionaires

Picture of stacks of hundred dollar bills for some billionaire lessons.

The chances of you becoming the next billionaire is slim. However, there are plenty of lessons to learn from those earning 10 figures.

There are a lot of lessons that can be learned from billionaires. They have achieved a level of success most people only dream of, and there is a lot to be learned from their stories. One thing that stands out among all billionaires is their resilience in the face of failure. They understand that failures are an important part of the learning process, and they use them to propel themselves forward.

While some people might see billionaires as lucky, the truth is that they have worked hard for their money.

In addition, excellence is a habit for billionaires; it is something that they do on a daily basis. In fact, many have a set billionaire morning routine.

Sure, billionaires have long-term goals, but they also take the time to break these goals into manageable milestones. This allows them to focus on their end goal while ensuring that they don’t become overwhelmed by it. In addition to setting goals, billionaires also know the importance of being decisive and taking calculated risks.

From the 3-comma club members, we can learn a lot about work ethic. Most of these billionaires achieved their wealth through sheer hard work and perseverance. They are not afraid of long hours or tough challenges, and they never give up on their dreams.

Now, the chance is for you to see how many figures you can earn.

Know someone else that needs this, too? Then, please share!!

Source: moneybliss.org

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Apache is functioning normally

June 2, 2023 by Brett Tams

Inside: Enjoy these millionaire quotes about achieving success! These statements will help you motivate yourself to achieve your goals and become a millionaire.

Success is not a destination- it’s a journey.

When you find yourself stuck, struggling to make progress on your goals, often the only thing that will inspire you to keep going is by reading quotes from other successful people who have been there before. So grab some time and read these meaningful quotes now!

Quoting people is a great way to remind yourself of your goals and stay motivated.

It’s easy to get distracted by the demands of life, so I like reaching for quotes that tell me what I need most right now.

Quotes by millionaires are a great source of inspiration and motivation for anyone looking to achieve success in life. Not only do they offer wise words of advice, but they also remind us that failure is an essential part of learning and achieving greater things.

So don’t be afraid to dream big and work hard towards making those dreams a reality.

In fact, here are the most inspiring millionaire quotes.

These millionaire quotes about achieving success will help you motivate yourself to achieve your goals and become a millionaire.

The power of millionaire quotes

Millionaire quotes have the power to change your life. If you’re feeling down or unmotivated, reading a few words from a millionaire can give you the boost you need to get back on track.

For example, Tony Robbins is one of the most successful millionaires in the world with a net worth of over $600 million. And he’s not the only one; there are countless millionaires out there who have made their fortune through hard work and determination.

When it comes to making money, these people know what they’re talking about! Their advice is worth listening to, and if you take their words to heart, you’ll be well on your way to success.

So next time you feel like giving up, read some inspiring quotes from millionaires and see how that changes your outlook on life. You may be surprised at just how powerful these words can be!

How to use millionaire quotes to achieve success

Picture of lots of dollars for how to use millionaire quotes to achieve success.

There is no one-size-fits-all answer to this question, as the best way to use millionaire quotes to achieve success depends on your personal goals and objectives.

However, some tips on how to use quotes to achieve success include:

  • Find quotes that resonate with you and inspire you.
  • Keep your goals in mind when reading quotes and using them to motivate you.
  • Write your own quotes and keep them in a place where you can see

If you’re looking to achieve success, millionaire quotes can be a great way to get started.

They provide inspiration and motivation and remind you that failure is not an option – which can be a great thing if you’re willing to learn from your mistakes.

The benefits of using millionaire quotes

Quotes by millionaires offer great advice and motivation for anyone looking to achieve success. They provide a unique perspective that can help you focus on your goals and push through any obstacle in your way. Additionally, these quotes can help increase productivity in any context and inspire creativity.

While it’s important to remember that not everyone is able to become a millionaire, following the advice of those who have achieved this level of success can be incredibly beneficial.

As Thomas A. Edison once said, “I have not failed. I’ve just found 10,000 ways that won’t work.”

This type of attitude will help you stay motivated even when things get tough.

Walt Disney also had some profound words of wisdom: “If you can dream it, you can do it.” This quote speaks to the idea that anything is possible if you put your mind to it.

Reaching your goals may seem difficult at times, but with enough determination and hard work, you’ll be able to accomplish anything.

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

Millionaire Mindset Quotes

Drawing of a head with a dollar sign in the brain for millionaire mindset quotes

These inspirational, motivational, and wise words from millionaires who achieved success despite all odds teach us that determination and perseverance is the key factor in life.

Your mindset will determine your outcome.

Enjoy some of the best millionaire mindset quotes…

1. “I can accept failure, everyone fails at something. But I can’t accept not trying.” – Michael Jordan

2. “Start with the end in mind. If you want to be a millionaire, talk like one, act like one, work like one.”- Bob Proctor

3. “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” – Henry Ford

4. “The easiest thing I ever did was earn a million dollars. The hardest thing I ever did, and it took years, was believing I was capable of earning a million dollars.” – Les Brown

5. “There is no monopoly on becoming a millionaire. If you’re jealous of those with more money, don’t just sit there and complain – do something to make more money yourself.” Gina Rinehart

6. “You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something – your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.” – Steve Jobs

7. “Think like a queen. A queen is not afraid to fail. Failure is another steppingstone to greatness.” – Oprah Winfrey

8. “To win big, you sometimes have to take big risks.” – Bill Gates

Picture of a quote from Dream Big - “Fail trying; don’t fail watching.” – Bob Goff

9. “Fail trying; don’t fail watching.” – Bob Goff

10. “There are a ton of ups and downs, and many times our highest points come immediately after our lowest.” – Pat Flynn

11. “Valleys don’t stop victories.” – Marshawn Evans Daniels

Motivation Millionaire Quotes

Picture of a magnifying glass over the word motivation along with more motivating words for motivation millionaire quotes.

Motivation is key to success. It is what drives us to achieve our goals and reach our potential.

There are many reasons why motivation is so important, but here are some of the most important ones:

  • Without motivation, it’s hard to stay focused and push through difficult tasks.
  • You’ll be more likely to give up if you’re not motivated.
  • Motivation gives you the energy you need to work hard and achieve your goals.
  • When you’re motivated, you’re more likely to take action and make progress towards your goals.

Now, here are the best motivation millionaire quotes to keep you going.

12. “When something is important enough, you do it even if the odds are not in your favor.” – Elon Musk

Picture of a quote... “I’d rather be optimistic and wrong than pessimistic and right.” – Elon Musk

13. “You simply have to put one foot in front of the other and keep going. Put blinders on and plow right ahead.” – George Lucas

14. “You cannot push any one up a ladder unless he be willing to climb a little himself.” – Andrew Carnegie

15. “The future of humanity: a choice between the past and the present, between stagnation or progress.” – Vladimir Vernadsky

16. “If people are not laughing at your goals, your goals are too small.” – Azim Premji

17. “Before you can become a millionaire, you must learn to think like one. You must learn how to motivate yourself to counter fear with courage.” – Thomas J. Stanley

18. “Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition.” – Steve Jobs

19. “I’d rather regret the things I’ve done than regret the things I haven’t done.” – Lucille Ball

20. “Do not be embarrassed by your failures, learn from them and start again.” – Richard Branson

Success Millionaire Quotes

Picture of a key with a rope saying success millionaire quotes.

Your goals will help guide your lifestyle and create a more meaningful journey for you.

By reaching your goals along the way, you find success. It is those small milestones that can help you along your journey. Believing bigger is about knowing deep down inside you are successful.

Now, here are some of the best success millionaire quotes to start believing in today!

21. “My dad encouraged us to fail. Growing up, he would ask us what we failed at that week. If we didn’t have something, he would be disappointed. It changed my mindset at an early age that failure is not the outcome, failure is not trying. Don’t be afraid to fail.” – Sara Blakely

22. “Success if not final. Failure is not fatal.” – Teri Ijeoma

23. “It doesn’t matter how many times you fail. You only have to be right once and then everyone can tell you that you are an overnight success.” – Mark Cuban

Picture of quote from Larry Ellison - “I have had all of the disadvantages required for success.” – Larry Ellison

24. “I have had all of the disadvantages required for success.” – Larry Ellison

25. “It’s fine to celebrate success but it is more important to heed the lessons of failure.” – Bill Gates

26. “Obviously everyone wants to be successful, but I want to be looked back on as being very innovative, very trusted and ethical and ultimately making a big difference in the world.” – Sergey Brin

27. “You don’t have to be a genius or a visionary or even a college graduate to be successful. You just need a framework and a dream.” – Michael Dell

Picture of Tony Robbins Quote - “Setting goals is the first step in turning the invisible into the visible.” – Tony Robbins

28. “Setting goals is the first step in turning the invisible into the visible.” – Tony Robbins

29. “You can never quit. Winners never quit, and quitters never win.” – Ted Turner

30. “All of us, in a sense, struggle continuously all the time, because we never get what we want. The important thing which I’ve really learned is how do you not give up, because you never succeed in the first attempt.” – Mukesh Ambani

Millionaire Mentor Quotes

Picture of someone bing mentored with millionaire mentor quotes.

Self-made millionaires offer great insight and motivation for those working towards success. They remind us that failure is often a part of the journey, but it’s important to stay true to ourselves along the way.

When you are building a business or starting a new endeavor, wouldn’t you want to have a mentor looking over your shoulder and motivating you?

So, although you may not be able to afford to meet these millionaires in person, you can write their quotes on your planner or near your computer to keep you focused on making your million.

When we spend time with people who have achieved success, their positivity rubs off on us.

We can begin to see the world through their lens and get motivated to achieve our own goals.

31. “The biggest risk is not taking any risk… In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg

32. “I believe people have to follow their dreams – I did.” – Larry Ellison

33. “If you don’t live your life, then who will?” – Rihanna

34. “Money is just a consequence. I always say to my team, ‘Don’t worry too much about profitability. If you do your job well, the profitability will come.’” – Bernard Arnault

35. “If you want to be successful, find someone who has achieved the results you want and copy what they do and you’ll achieve the same results.” – Tony Robbins

36. “Dedicating myself to actually following through was my single biggest achievement.” – Nick Woodman

Picture of quote from Nick Woodman -  "Dedicating myself to actually following through was my single biggest achievement." - Nick Woodman

37. “Always make a total effort, even when the odds are against you.” – Arnold Palmer

38. “I’m an entrepreneur. ‘Ambitious’ is my middle name.” – Kim Kardashian

39. “Talent without working hard is nothing.” – Cristiano Ronaldo

Strong Millionaire Quotes

Picture of a laptop and coffee mug with a sticky not that says today is the day for strong millionaire quotes.

Okay, there are times you need to hear the hard stuff. Like the coach whispering exactly what you need to be told when you weren’t executing as you should be.

These strong millionaire quotes are the ones that put us back on track.

They remind us why motivating yourself to achieve great success is necessary.

40. “Swim upstream. Go the other way. Ignore the conventional wisdom.” – Sam Walton

41. “Winning is not always the barometer of getting better.” – Tiger Woods

42. “If you’re afraid to fail, then you’re probably going to fail.” – Kobe Bryant

43. “If you don’t find a way to make money while you sleep, you will work until you die.” – Warren Buffett

44. “If you’re changing the world, you’re working on important things. You’re excited to get up in the morning.” – Larry Page

45. “Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” – Oprah Winfrey

A picture of a quote from Oprah - “Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” – Oprah Winfrey

46. “As long as you’re going to be thinking anyway, think big.” – Donald Trump

47. “Confidence is the most important single factor in this game, and no matter how great your natural talent, there is only one way to obtain and sustain it: work.” – Jack Nicklaus

48. “You have to be able to accept failure to get better.” – LeBron James

Millionaire Quotes about Life

Picture of a tropical setting for millionaire quotes about life.

Successful people are usually happy because they have found a way to be content in life while still reaching for more.

Regardless of the type of millionaire they are, they all find happiness in some form or another from their work. This in turn leads to greater motivation and a desire to keep growing and achieving more. Additionally, small challenges help to keep these levels of happiness and motivation high.

Here are the best millionaire quotes about living life to the fullest!

49. “I’d rather be optimistic and wrong than pessimistic and right.” – Elon Musk

50. “A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.” – Jeff Bezos

51. “Everybody has equal opportunity, and I think that is true for everything.” – Mukesh Ambani

52. “If you are born poor it’s not your mistake, but if you die poor its your mistake.” – Bill Gates

Picture of Ray Dalio quote - “Treat your life like a game.” – Ray Dalio

53. “Treat your life like a game.” – Ray Dalio

54. “Self-praise is for losers. Be a winner. Stand for something. Always have class, and be humble.” – John Madden

55. “Being rich is a good thing. Not just in the obvious sense of benefitting you and your family, but in the broader sense. Profits are not a zero sum game. The more you make, the more of a financial impact you can have.” – Mark Cuban

56. “People should only profit to the extent they make other peoples lives better.” – Charles Koch

Future Millionaire Quotes

Picture of a really excited lady giving a thumbs up for future millionaire quotes.

Success is a tricky thing to quantify.

This perspective can help you stay motivated as you work towards your goals- knowing that things are always changing and evolving. Additionally, it’s important not to compare yourself with anyone else in this world. You’ll only end up insulting yourself!

So from one millionaire to the next millionaire (you), here are the future millionaire quotes to memorize.

57. “You can’t just wish to be a millionaire; you have to figure out how to earn it.” – Dolly Parton

Picture of Steve Jobs quote - “Sometimes life hits you in the head with a brick. Don’t lose faith.” – Steve Jobs

58. “Sometimes life hits you in the head with a brick. Don’t lose faith.” – Steve Jobs

59. “The key to life when it gets tough is to keep moving. Just keep moving.” – Tyler Perry

60. “Have fun. The game is a lot more enjoyable when you’re trying to do more than just make money.” – Tony Hsieh

61. “Education is the most important for our children, and it’s also the best investment.” -Bill Gates

62. “I never took a day off in my 20’s. Not One.” – Bill Gates

63. “At the end of the day, you know yourself best.” – Abigail Johnson

Millionaire Quotes about Money

Picture of a lady holding a bunch of hundred dollar bills for millionaire quotes about money.

Millionaire quotes are a great way to get motivated and inspired to achieve success. They offer a glimpse into the mindset of millionaires and what drives them.

Money is often seen as the key to happiness.

And while it can certainly bring a level of comfort and ease, it is not the only thing that can bring happiness. Hard work and dedication are essential for success, and it is important to believe in yourself and your dreams.

So, enjoy these millionaire quotes about money…

64. “Never depend on a single income. Make investments to create a second source.” – Warren Buffett

65. “If you do not see riches in your imagination, you will never see them in your bank balance.” – Napoleon Hill

66. “Most people fail to realize that in life, it’s not how much money you make. It’s how much money you keep.” – Robert Kiyosaki

67. “Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1” – Warren Buffet

Picture of Steven Spielberg quote - “Why pay a dollar for a bookmark? Why not use the dollar for a bookmark?” – Steven Spielberg

68. “Why pay a dollar for a bookmark? Why not use the dollar for a bookmark?” – Steven Spielberg

69. “I want the last cheque I write to bounce.” – Chuck Feeney

70. “It’s not about the money, it’s about what you can do with the money.” – Thomas J. Stanley

Which Thing will You do to Result in More Wealth Opportunities?

Picture of hundred bills hanging on a rope for successful millionaire quotes.

So there you have it, 70+ powerful millionaire quotes to help you motivate yourself to achieve success.

These are people worth at least 7 figures – maybe even 10 figures.

If you want to become a millionaire, it all starts with taking action towards your goals.

Use these quotes as inspiration and fuel to keep you going on your journey to success.

Remember, it’s not about the destination, it’s about the journey.

Enjoy the process and don’t stress too much about the outcome. As long as you’re taking action and moving forward, you’re on the right track. Who knows, maybe you’ll be the next millionaire!

Know someone else that needs this, too? Then, please share!!

Source: moneybliss.org

Posted in: Financial Freedom, Money Tips Tagged: 2, About, action, advice, age, All, Amazon, ask, balance, ball, Bank, before, Benefits, best, big, bill gates, brick, brown, buffett, building, business, Buy, Children, choice, College, college graduate, commission, company, confidence, cost, creativity, dell, disclosure, disney, Donald Trump, dream, drives, earning, education, energy, equal opportunity, faith, Family, Financial Freedom, Financial Wize, FinancialWize, Ford, front, fun, future, get started, Giving, goals, good, great, guide, Happiness, How To, impact, in, Income, Inspiration, investment, investments, job, jobs, journey, Kim Kardashian, Learn, learned, lessons, Life, Lifestyle, Links, Live, Living, Make, Make Money, making, Making Money, Millionaire, mindset, mistake, Mistakes, money, More, more money, Motivation, motivational, Moving, natural, needs, net worth, new, nick, offer, opportunity, or, Other, Personal, place, planner, points, poor, present, productivity, Quotes, reach, rich, right, risk, second, setting goals, single, sleep, stress, thankful, time, tips, trust, tyler, unique, wants, warren, warren buffet, wealth, will, work, working, wrong, zero sum

Apache is functioning normally

June 1, 2023 by Brett Tams

Our rights as women have come a long way since we earned the power to vote on August 26, 1920.

But the financial playing field between men and women still isn’t level. Not even close. 

To help you make waves in your own financial life, I interviewed several Millennial and Gen Z women to find out what financial advice they’d give to other women today

Here’s what they had to say.

What’s Ahead:

  • 1. “Don’t be afraid to negotiate your salary.”
  • 2. “Take advantage of any employer match ASAP.”
  • 3. “Avoid high-interest debt.”
  • 4. “It is SO cliché, so hear me out… please start saving early for retirement!”
  • 5. “Start using a spending plan or budget. Zero it out each month, and save the rest.”
  • 6. “As a Millennial myself, the best money advice I would give women in their 20s and 30s is to diversify how you save and spend money.”
  • 7. “Protect yourself and your people financially.”
  • 8. “Educate yourself so you understand how money, interest, and debt works.”
  • 9. “Sign up for Experian Boost. It’s free and will report monthly bills that generally don’t boost your credit like a phone bill, gas, and power!”
  • 10. “When you buy your first home, pay biweekly (most working people get paid on these terms anyway). You’ll make one extra payment a year, shaving off seven years of your loan life on a 30-year mortgage!”
  • 11. “When it comes to money, you can have your cake and eat it too.”
  • 12. “Do not share bank accounts with anyone you’re dating but not married to, even if you live together.”
  • 13. “Do not lease your car. Take out a loan instead.”
  • 14. “Be a minimalist, especially if you rent.”
  • 15. “The greatest gift you can give yourself is to save and invest early.”
  • 16. “Becoming a financially grown-up woman means unlearning a lot of money lessons society taught us as girls: that men are better at money and math (they’re not), that investing is scary (it’s not), and that the best route to financial stability is to marry a high earner (absolutely not!).”
  • 17. “Surround yourself with people with similar money values.”
  • 18. “Make saving a habit as soon as you start making income.”
  • 19. “Budget, but give yourself room to indulge.”
  • 20. “Cash back offers are everywhere, from brands like Rakuten, to credit card perks, to apps like Coupons.com. Use them!”
  • 21. “Learn to use credit cards wisely.”
  • 22. “Get a side gig by turning a passion into a money-making opportunity.”
  • 23. “Know your worth and advocate for yourself when negotiating.”
  • 24. “Set goals and actively work toward them.”
  • 25. “Forget FOMO. Don’t be afraid to say no.”
  • Summary

1. “Don’t be afraid to negotiate your salary.”

Women’s Equality Day: 25 Money Tips From Women For Women - Negotiate your salary

Anna Barker, Founder of LogicalDollar, offered me this advice. 

There’s no question that it can be scary to ask for more money. Especially as women, we often internalize the feeling that we’re going to be seen as pushy or demanding if we ask for a raise. 

However, various studies show this is actually one of the reasons women end up earning less over their lifetimes than men, who tend to be more likely to ask for more money.

2. “Take advantage of any employer match ASAP.”

Barker also talked with me about retirement. One of the best things that you can do for your future financial security is to start investing as early as possible.

If your employer offers any matching of your 401(k) contributions, this is basically free money and you should do everything you can to invest up to the limit of the match.

3. “Avoid high-interest debt.”

According to Barker, a big money mistake that a lot of women in their 20s and 30s make is signing up for high-interest credit cards. To be clear, credit cards can actually be a great tool if used correctly — which primarily involves paying the balance off in full by the end of each billing cycle.

The problems start to arise once those interest-free periods run out and you realize you’re not able to immediately pay off the debt you’ve accrued.

4. “It is SO cliché, so hear me out… please start saving early for retirement!”

Heather Albrecht, Financial Coach and Founder of Balance Financial Coaching, discussed this with me. 

It’s hard because when you’re young, you seem to have SUCH a long time until that money is needed. But the math doesn’t lie.

Starting young makes it easier because you can save less. Gosh, I wish I had made the space in our spending plan to save earlier even though it seemed impossible. The $25 here or there would have been huge by now.

5. “Start using a spending plan or budget. Zero it out each month, and save the rest.”

Women’s Equality Day: 25 Money Tips From Women For Women - Use a budget

Albrecht also spoke with me here. And I have to say if I had been able to get myself into the mindset of “saving money is spending money on my future freedom” at a younger age, there would have been a lot less stress at times.

Budgeting doesn’t have to be difficult, either. Just pick the right method and it’ll become just another habit.

6. “As a Millennial myself, the best money advice I would give women in their 20s and 30s is to diversify how you save and spend money.”

Siobhan Alvarez, Founder of Budget Baby Budget, shared this wisdom with me.

I am a big believer in not being dependent on one checking and savings account! I have a long-term high-yield savings account for an emergency fund, a savings account at my local bank for big purchases, a checking account for everyday expenses; and a checking account for fun purchases throughout the month.

This has helped me not only pay off a huge amount of debt over the past few years but do it in a way so I didn’t feel like I was missing out on life and fun!

7. “Protect yourself and your people financially.”

Brittney Burgett, Head of Communications at Bestow, gave this little nugget of advice. Emergency savings, disability insurance, and life insurance matter, especially if you have financial dependents.

Insurance, in particular, is more affordable to buy the younger and healthier you are. I, for example, have life insurance because I own a home.

My mom is my beneficiary, so if anything were to happen to me, the payout from a policy would enable her to continue the mortgage payments and decide later on what to do with my house — keep it, rent it or sell it. Life insurance would give her flexibility when it’s needed most.

8. “Educate yourself so you understand how money, interest, and debt works.”

Women’s Equality Day: 25 Money Tips From Women For Women - Educate yourself

Lindsay Feldman, Publicist and Founder of BrandBomb Marketing, broke down this for me.

It wasn’t until I really started reading financial books and listening to podcasts that I really began to take control over my financial situation. Understanding how money, interest, and debt works are key to being able to make your money work for you. I look at everything differently now which has empowered me to make smarter decisions.

9. “Sign up for Experian Boost. It’s free and will report monthly bills that generally don’t boost your credit like a phone bill, gas, and power!”

Feldman offered up a way for folks to finally help their credit the easy way. Experian Boost™ is free and it takes just a few minutes to sign-up.

Always be on the lookout for ways to improve your credit – it’ll only help you in the long run.

Feldman shares a great tip that can help homeowners own their home sooner (and pay wayyy less in interest). If it’s possible, work those extra payments into your budget.

11. “When it comes to money, you can have your cake and eat it too.”

Youmna Rab, Founder of Brilliantly Budgeting offered me this quote.

Women’s Equality Day: 25 Money Tips From Women For Women - Enjoy your money

You don’t need to save every penny you earn and give up your favorite indulgences like spa days or dinners out.

If you make a plan for your money, you can enjoy what you like while also saving money for the future.

12. “Do not share bank accounts with anyone you’re dating but not married to, even if you live together.”

Shannon Vissers, the Financial and Retail Analyst of Merchant Maverick, shared some tough love here.

If you break up or your partner spends on things you don’t agree with, you’ll have no legal recourse to get your money back apart from suing them in small claims or court (which is expensive and stressful and may not go in your favor).

13. “Do not lease your car. Take out a loan instead.”

Vissers makes a good point here as well. A lease is essentially a very expensive car rental, and it’s a bad choice unless you’re wealthy enough to comfortably afford this luxury.

This doesn’t mean you can’t get a new car when you’re young. Rather than leasing a car out of your price range, opt to finance a cute, reliable car that you’ll own in three or five years (ideally three). You’ll build credit history this way and, in a few years, you won’t even have a monthly car payment.

14. “Be a minimalist, especially if you rent.”

Women’s Equality Day: 25 Money Tips From Women For Women - Be a minimalist

While this tip may not be for everyone, there’s a good reason Visser’s offers this pearl of wisdom as well.

A good case can be made for spending on experiences when you’re young – trips, concerts, etc. — but overspending on retail goods is another story. Ever heard of the saying, what you own, owns you?

It’s true.

Remember, you’ll have to deal with all your clothes, shoes, furniture, kitchen items, knick-knacks, etc. the next time you move — and your headaches will be compounded if you have to move to a smaller place.

15. “The greatest gift you can give yourself is to save and invest early.”

Sarah Jane Paulson, CFP® at Valkyrie Financial, gave me this bit of guidance.

The classic pay yourself first mentality is the easiest way to a financially strong future. Build that emergency fund (or F*** You fund, if you prefer) of three to six months worth of expenses in a separate account other than your everyday checking.

Then go out and open an IRA or Roth for yourself. Put your money into cheap, diverse index funds and keep adding to it. The greatest money strength you have on your side is that you have years for the market to create an avalanche out of the first few snowflakes of money you invest.

16. “Becoming a financially grown-up woman means unlearning a lot of money lessons society taught us as girls: that men are better at money and math (they’re not), that investing is scary (it’s not), and that the best route to financial stability is to marry a high earner (absolutely not!).”

Sara Rathner, credit cards expert at NerdWallet, wanted to share this with other women.

Women’s Equality Day: 25 Money Tips From Women For Women - Throw sexist financial "advice" in the garbage

So throw all those old lessons in the garbage, because that’s where it belongs. Now, today, learn everything you can about managing your finances on your own.

There is nothing more empowering than being the boss of your own life, and of being an equal partner in your relationships. No one will ever care as much about your money as you will.

17. “Surround yourself with people with similar money values.”

Sue Hirst, Co-Founder and CFO of CFO On-Call shared her experience when we talked.

When I was in my 20s, I used to hang out with many people who didn’t share my money values. As a result, almost every time I went out with my friends, I splurged money recklessly due to peer pressure.

This was one of the top reasons I was unable to save as much money as I would have liked each month. Looking back, I wish I had either told my friends directly that I wasn’t comfortable spending huge amounts of money routinely, or made new friends whose financial values aligned with my own.

18. “Make saving a habit as soon as you start making income.”

Imani Francies, Finance Expert at US Insurance Agents, shared this little mind shift.

Saving becomes easier when you look at yourself with the same significance that you look at your power bill or any other bill. No matter what, you are going to do your best to pay your power bill. You should feel the same way about putting money into your savings.

Paying yourself first every month is investing in your future. Even if you can only put $5 into a savings account once a month, start early.

19. “Budget, but give yourself room to indulge.”

Women’s Equality Day: 25 Money Tips From Women For Women - 19. “Budget, but give yourself room to indulge.”

Lisa Thompson, Savings Expert at Coupons.com, offered up ALLLL the good tips when I spoke with her.

What’s your weakness: designer handbags, weekend getaways, fine dining with a great bottle of champagne? Make room for things you love by controlling what you spend in other areas.

20. “Cash back offers are everywhere, from brands like Rakuten, to credit card perks, to apps like Coupons.com. Use them!”

Thompson also offers this bit of advice. Refuse to pay full price for anything until you’ve looked for an offer. If you can pair a coupon or cash back offer with a store discount or sale, bam! That’s a savvy way to shop.

21. “Learn to use credit cards wisely.”

To tack on, Thompson also had this to say.

She makes a good point, too. Today, there are so many options for credit cards that offer perks from cash back to miles to points, as well as incentives, like a free Dash Pass for DoorDash or money toward a Peloton membership. The key, of course, is to not carry a balance and pay so much interest that it cancels out the perks. But if you can learn to use credit cards wisely by paying them off each month, the perks and incentives can help make everything from dining out to travel more affordable.

22. “Get a side gig by turning a passion into a money-making opportunity.”

Finally, Thompson ended our conversation with the quote above.

Do you love essential oils? Make balms, rollerballs, and pillow sprays, and sell them on Etsy or at pop-up shops.

Do you love thrifting, going to estate sales, and visiting antique shops? Find items worth more than what you’re paying and resell them! Facebook Marketplace is the perfect spot for that, and it’s free.

If you can turn a hobby into a source of income, that’s extra money for you to invest, save, or use as your slush/entertainment fund.

23. “Know your worth and advocate for yourself when negotiating.”

Women’s Equality Day: 25 Money Tips From Women For Women - Know your worth

Amy Maliga, Personal Finance Consultant at Take Charge America, tells it like it is with her wise advice above.

Since the gender pay gap is still a real thing (ugh), it’s important to do your research on salaries for your position and advocate for yourself when negotiating a new job or discussing your annual performance review.

24. “Set goals and actively work toward them.”

Maliga offered me a simple but strong piece of advice above.

Whether it’s buying a home, starting a business, or embarking on world travel, setting financial goals gives a structure and framework to how you plan your finances.

25. “Forget FOMO. Don’t be afraid to say no.”

Maliga also makes a good point here.

TikTok made me buy it – or did it?

It’s way too easy to shop these days, and social media knows exactly what it takes to get you to press “add to cart.” When you’re tempted to buy something you hadn’t planned on, or friends are trying to talk you into activities you can’t afford, keep those long-term financial goals in mind, and don’t be afraid to say no.

Summary

We celebrate Women’s Equality Day every August 26th to commemorate the day the 19th Amendment finally recognized that women have the right to vote. But that same equality hasn’t trickled to the financial space yet, where the gender pay gap, wealth gap, and investing gap still exist today.

We’ve made a lot of progress over the decades, but a lot still needs to happen at the company, state, and national levels to achieve equal pay and equal opportunities for equal work. Until then, I hope these financial tips from awesome Millennial and Gen Z women serve as inspiration for how you can up the ante in your own financial life.

Are there any tips you’d add to the list? Let me know in the comments below!

Read more:

Source: moneyunder30.com

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Apache is functioning normally

June 1, 2023 by Brett Tams

Financial success can be due to making good decisions or avoiding big mistakes. In many cases, the biggest mistakes happen after good decisions, because the stakes have become higher.

As an example, let’s consider the dilemma of Motley Fool reader Jim, who emailed us this question: “Did I make a substantial error when taking money out of my IRA?”

To help answer that question, Jim sent along some details:

  • He’s retired.
  • His IRA was worth $325,000.
  • He couldn’t get a mortgage.
  • He used $150,000 of his IRA to buy a house.
  • He receives $24,000 annually from Social Security.

Now, that’s not all the information we’d need to determine whether he treated his IRA with TLC. But from what he told us, I’m going to make an initial diagnosis: He made a few mistakes.

As a cautionary tale for all us retiree wannabes, let’s take a look at some important lessons from Jim.

Lesson #1: Crunch your numbers before you retire

The good thing that Jim did was save for retirement. In fact, he had a bigger nest egg than most retirees, according to the Employee Benefit Research Institute’s 2012 Retirement Confidence Survey. Only 15 percent of the participating retirees reported having more than $250,000 saved up.

Unfortunately, being significantly above average still may not be good enough, especially since it’s my opinion — based on studies and anecdotal evidence — that too many people retire too early. (NPR’s series about Americans working longer mentioned a woman in her 90s who had to go back to work.) Having more than most retirees may be like being one of the best players on the practice squad.

Determining whether you have enough to retire can be a complicated analysis, perhaps best done by paying a fee-only financial planner who charges by the hour or by the project — such as many of the folks in the Garrett Planning Network — to help with the ‘rithmetic. However, for the purposes of this article, we’ll use the 4 percent withdrawal rate rule: a rule of thumb that says retirees should withdraw no more than 4 percent of their portfolio in the first year of retirement, and then adjust that amount every subsequent year for inflation. (There’s plenty of debate about whether 4 percent is actually best number, but it’s good enough for this discussion.) So, 4 percent of Jim’s $325,000 IRA is $13,000. Add it to Social Security, and he has income of $37,000.

But wait! He no longer has $325,000. That’s because he didn’t know about Lesson #2, which is…

Lesson #2: Get a mortgage before you retire

Ideally, you kill your mortgage (after all, “mort” is “death” in Latin, and the “gage” part means “pledge”) before you quit your job. However, if you’re in the position of needing a mortgage in your 60s, you’ll be more likely to get one while you’re still working because you’re still earning a paycheck and likely have a higher income. Also, it’s against IRS rules to use an IRA as collateral for a loan.

Lesson #3: Avoid large traditional IRA distributions

Unfortunately for Jim, he didn’t get a mortgage, so he made a $150,000 withdrawal from his IRA. Assuming this is a traditional tax-deferred IRA, that withdrawal was taxed as ordinary income — likely vaulting him from the 15 percent tax bracket to the 28 percent tax bracket. Thus, to have $150,000 to spend on a house, he likely would have withdrawn something closer to $180,000 to cover both the price tag and tax tag.

All still may not be lost

Assuming Jim has $145,000 left in his IRA (i.e., he withdrew $180,000 from the $325,000 he had), applying the 4 percent rule of thumb to that amount (resulting in $5,800), and adding that to his Social Security ($24,000) gives Jim an estimated annual income of approximately $29,800. According to the Department of Labor’s 2010 Consumer Expenditure Survey, the average household led by someone age 65 or older has annual expenditures of $36,802. Jim might be OK if he keeps his retirement modest; he doesn’t have a mortgage, so he just needs to worry about maintenance as well as food, utilities, transportation, taxes (which will be low for him going forward), and health care (not so low, and growing). Also, if he needs extra funds, he can get a reverse mortgage, which could add another few thousand dollars of annual income, depending on his age. However, this doesn’t leave much room for unexpected big-ticket home repairs or health repairs.

Even though he’s retired, it’s not too late for Jim to crunch his numbers to determine whether he can be reasonably sure that his portfolio will last the rest of his life. If it looks like that isn’t likely, then he has to change one of the key variables – income (i.e., go back to work), expenses (lower them further), or life (shorten it — the least-attractive option). Even working for a few more years, even part-time, can have a powerful impact on your retirement security. And it’s better to do it now rather than wait until your 90s.

Source: getrichslowly.org

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Apache is functioning normally

May 31, 2023 by Brett Tams

This reader story is by a longtime GRS reader Sumitha from afineparent.com, a blog founded on the simple belief that “Good Parents Are Made, Not Born.”

Some reader stories contain general advice; others are examples of how a GRS reader achieved financial success or failure. These stories feature folks with all levels of financial maturity and income.

How much would you think it would cost to treat an ant bite?

Yes, an ant bite.

Nope, its not $100. It’s not even $1,000. How about $2,356?

On Easter Sunday, my husband and I got together with a bunch of friends and took the kids for the annual egg hunt at the neighborhood park. As the little ones were scrambling around for the eggs, we parents stood on the sidelines discussing their antics, the weather and the latest gossip. My husband, who is extremely allergic to ant bites, happened to be standing at the edge of an ant hill.

Suddenly, he started to itch all over and then right before our eyes, he began to inflate like a big red balloon. Considering that it was the Easter Sunday, we thought nothing would be open and rushed him to the closest emergency room. After a shot and an hour of observation, they sent him home, hale and healthy, to enjoy the rest of the weekend with our friends.

We thought nothing about it for a few weeks, until the bill arrived. When I opened the bill, I just about needed an emergency room. Since we have a high-deductible insurance plan, the entire portion of the bill was our responsibility!

Once I regained my bearings, I huffed and puffed — railed and ranted. Normally, after letting out the steam, I would have grudgingly paid the bill. But this happened just the month after I‘d quit my job, and I was not going to spend a chunk of my savings on an ant bite. I don’t mind paying a doctor for a complicated procedure – they sure do earn their fees. But, this wasn’t brain surgery; it was an ant bite!

I sat on that bill for a couple of days until I calmed down a bit. And then one day after my husband left for work and my daughter was in school, I settled down in a sofa with my phone and the bill.

First, I called the billing phone number. Unfortunately, I ended up talking to a very unsympathetic lady. When I failed miserably to appeal to her sympathy, in frustration, I asked her if she could provide me the hospital’s direct number. She suggested that I talk to someone in their business office instead.

I was feeling quite hopeless already by the time I called the business office. This time, however, I got lucky and ended up talking to an extremely kind and sympathetic lady.

Did you even know that you could bargain down a medical bill?

I didn’t either. Here’s how our conversation went.

Me: <explaining our woe at length>

She: <listening patiently>

Me: So, is there anything you can do to help me out? I just can’t bring myself to pay $2,356 for an ant bite.

She: Well, I have to offer you the same thing that I offer our other customers. Will you be able to pay the bill if I extended the due date on your bill by 30 days?

Me: No, you don’t understand. It’s not that I can’t pay the bill, I just don’t want to. It does not seem right to pay thousands for an ant bite

She: <Still very patient, and talking in a slow conspirator voice> I understand, but I have to offer you the same thing that I offer our other customers. Now, would you be interested in delaying your bill by 30 days?

Me: <Sighing deeply> No.

She: How about if I offered to split it into six equal payments?

Me: <Starting to feel hopeless again> Please try to understand. It’s not that I cannot afford it. On a principle, I cannot bring myself to pay thousands of dollars for an ant bite.

She: <In the same, slow conspirator voice as before> Ma’am, I understand. But, I have to offer you the same thing that I offer our other customers. Now, would it help if we split your bill into no equal payments?

Me: No, thanks.

She: OK. How about if I offered you a 10 percent discount? Would you be able to pay the bill today? That would come up to $2,120.

Me: <Slowly catching on> No, thanks.

She: How about if I took off 20 percent? That would come up to $1,884. Would you be able to pay the bill today?

Me: You are very kind, but no, I still cannot pay that.

She: That is the most I am authorized to offer.

Me: <Sigh. Silence>

She: Do you mind if I put you on hold for a minute? Let me talk to my supervisor and see if there is something more we can do.

Me: Thank you very much! I will hold.

She: <After a short silence> Ma’am, my supervisor said we can offer you a 30 percent discount. That will bring your bill to $1,649.20. Is that something you can pay today?

Me: <Feeling like I’m in an episode of “Deal or No Deal”> Thanks, but I will pass.

She: <It’s easier now. She knows I’m onto the game.> How about 40 percent? That will come to $1,413.60.

Me: No, thanks.

She: I can offer you 50 percent off to bring your balance to $1,178.00. Will you be able to pay that today?

Me: No, thanks.

She: <In a soft voice signaling that the game is over> Ma’am, this really is the best we can offer.

Me: Thanks, I appreciate that you have been so kind. But I really don’t want to pay more than a thousand for an ant bite. Is there anything you can do to bring it to triple digits? Can you speak with your supervisor again?

She: I wish I could, but this is the most our department is allowed to offer. I could offer you 30 days to pay it or let you pay it in six equal payments, but that is as far as we can go.

Me: <Still not ready to give up> No, I don’t need extra time, I just need some more reduction in the bill. Put yourself in my spot: Would you be willing to pay $1,000-plus for an ant bite?

She: <In a very kind and gentle voice> I completely understand. But please understand that this is really the best we can do. There may be other means you could pursue…

Me: <I suspect she meant that I let it go to collections. I let out a deep sigh.> OK, thanks. Let me go ahead and take care of it then.

So, I ended up paying $1,178. It’s a lot more than what I would have liked to pay, but also a lot less than what I would have paid had I not picked up the phone and negotiated!

The adjusted medical bill

The adjusted medical bill

Lessons learned from this experience:

  1. Don’t rush to the emergency room if you can avoid it. I learned later that going to an urgent care facility, which is usually open on weekends, might have resulted in a much lower bill.
  2. Medical bills are negotiable. Don’t just pay the bill if you feel that the services rendered do not justify it. Call up the billing number and ask to be connected to the business office and see if they can help you reduce the bill.
  3. Be kind to the representative on the phone. I’ve recently been reading a lot of Dale Carnegie and Napoleon Hill’s books and so, I decided to let myself calm down before making the phone call and venting out my frustration. I suspect this helped persuade the lady on the other end to show me (despite my slowness in catching on!) that it’s possible to negotiate a medical bill.

How about you? What’s the worst medical bill you’ve had to pay? Did you try negotiating it down?

Source: getrichslowly.org

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