Author Archives: Aaron

About Aaron

Aaron is the owner of Add-Vodka.com and other personal finance websites. He is a freelance journalist who specializes in personal finance writing and editing. Find out more about his work at AaronCrowe.net or follow him on Twitter.

Personal leasing deals are growing in popularity with motorists and it is easy to see the attraction when you get the chance to swap your car every couple of years for a new model, but is it the most cost-effective form of motoring?

There is always a cost attached to leasing a car and the obvious downside is that you never actually own the vehicle at any point, but if you own a car outright you will also have to consider repairs and maintenance over time.

It is a bit of a dilemma, so here is a look at some of the key points that could you decide whether you would be better off financially owning a car rather than taking the highly popular route of signing up for a personal lease.

A fair comparison

One of the fairest ways of trying to make a direct comparison between owning a car or leasing it would be to look at the typical period that you are likely to own a car for.

The median average for owning the average family car is about six years so in order to try and make a cost comparison between leasing and ownership it needs to be an equal length of time.

As the average lease period is normally no more than three years it is quite likely that you will have taken out two lease deals covering the average period that you will hold on to a car that you have bought.

The cost of leasing, therefore, needs to be doubled up so that you can take an equitable look at what it has cost you to service and maintain a vehicle you own against the price of leasing one that may not require repairing so often in that time, but costs you monthly lease payments.

Using those parameters it is likely that buying a new car will cost you the most money when you look at all of your out-of-pocket expenses, followed by a leasing deal being more cost-effective, but trumped by buying a used car and maintaining it.

It is not a precise science of course, and you could arguably sign a free maintenance program so that you don’t have any additional servicing or maintenance costs during the leasing period, but that will be factored into the monthly payments.

How long you want to keep your car for

If you want to keep changing your car to the latest model and don’t mind paying for that flexibility and convenience then leasing is probably a good way to go, but if you are someone who is happy to get their money’s worth, car ownership is likely to prove a more cost-effective option.

If you are happy enough to do some of the more simpler maintenance tasks and repairs yourself, you can download Ford repair manuals, for example, and learn how to do things properly and save a lot of money compared to paying a garage to do it for you. ...continue reading

tutorBeing a student is supposed to be a great life experience for everyone. You get to meet new people and learn both academic and life lessons. Unfortunately for most people, this is rarely the case because they are short on funds.

To help students cope with short finances, the tips below have been drawn up to help them have a more convenient and less financially stressful academic experience.

1. Get a job

The surest way to expand your income as a student is to get a job. The added income is bound to enable you live the student life you want. But be careful not to pick a job that’ll interfere too much with your academics.

A job that’s in line with what you’re studying will be most suitable because it’ll look good on your résumé.

2. Pay rent and bills on time every month

Bills are an unshakeable reality of life. Regardless if you are a student, employer, or employee, there will always be bills to pay. But one efficient way to manage your finances is to ensure all your bills as well as your rent are paid on time.

The reason for this is, ignoring bills won’t make them go away. Instead, they’ll just build up over time and leave you with a larger and more daunting debt to settle. ...continue reading

We all have quirks in our personalities, particularly when it comes to spending. Whether you’re in good financial standing or not, sometimes these qualities can keep you from achieving your financial goals. Fortunately, whatever your personality, there are ways to ensure you are not holding yourself back. Here are six personality types that can keep you from financial success and how to spot them:

1. The Spender

The spender may have the “you can’t take it with you when you go” attitude. They may spend well beyond their means and swipe credit cards to their max. Unfortunately, this can be a quick way to incur massive amounts of debt and hurt your chances for financial success. If you’re not saving, you’re not helping your future. (You can see how your habits are affecting your finances by viewing two of your credit scores for free on Credit.com.)

To avoid overspending, it’s important to not only create a budget to track your habits but to try and find the triggers that cause you to spend in the first place. Whether it’s your emotional state or the shopper’s high you get from a purchase, addressing these triggers can help you curb your spending.

2. The Risk Taker

Perhaps you like to take risks with your money. High risk can lead to higher rewards, right? At times, yes, but they can also leave you with less. For example, just because you are approved for a mortgage doesn’t mean you can afford that amount. If you take a risk on this purchase, you may stretch your budget beyond its limits. Finding the right balance can help you limit risk and keep you on track for long-term financial success.

3. The Procrastinator

You’ve heard the phrase, “Don’t put off for tomorrow what you can do today.” So if you’re ignoring or putting off your fiscal responsibilities, you could be spelling doom for your financial wellness. Making late payments, waiting to save for retirement, letting bills pile up, or putting off goals are all common examples of financial procrastination. Putting your finances aside will only make things worse.

Consider taking a bit of time each day or week to work on your finances. Also, you may want to sign up for automatic payments, which can make it easier to keep up with due dates. ...continue reading