Why is gold a substantial investment during recession periods?

Gold is a haven asset that performs well during economic turmoil and uncertainty. Investors worried about the economy’s direction tend to flock to gold as a haven investment. This demand for gold drives up the price, making it a good investment during recessionary periods.

There are many reasons why gold may be a good investment during a recession. First, gold tends to be less volatile than other assets, such as stocks and bonds. This means that it may hold its value better during economic uncertainty.

Second, gold has historically outperformed other assets during periods of recession. This is partly because investors see gold as a haven asset and are willing to pay more for it when other assets are losing value.

Third, gold is a finite resource, so it is not subject to the same inflationary pressures as other assets. This makes it an ideal hedge against inflation, which can erode the purchasing power of different investments.

Fourth, many central banks worldwide have been increasing their holdings of gold in recent years, which adds to the demand for metal and contributes to its price stability.

How to invest in gold during a recession?

When it comes to investing in gold during a recession, there are a few things you need to keep in mind. First, you must remember that gold is a volatile commodity. That means its price can go up and down drastically, and you need to be prepared for that.

When most people think of investing in gold, they think of buying gold bars or coins. However, there are many other ways to invest in gold during a recession. Here are a few:

1. Gold ETFs: Exchange-traded funds that invest in gold are a popular way to invest in gold during a recession. They offer the advantage of being able to be traded like stocks, but with the price of gold underlying their value.

2. Gold Mutual Funds: These mutual funds invest in companies involved in producing, refining, or selling gold. They offer exposure to the gold market without owning any physical gold.

3. Gold Mining Stocks: Gold mining stocks are another way to get exposure to the price of gold without owning any physical metal. These stocks represent ownership in a company that mines for gold and, therefore, will go up or down based on the price of gold.

4. Physical Gold: Of course, you can always buy physical gold bars or coins as an investment during a recession (or any other time). This is the most direct way to own and benefit from changes in the price of gold.

Finally, remember that no investment is guaranteed. There’s always a chance that the price of gold could go down, even during a recession. But if you’re looking for a haven asset, gold is worth considering.

What significant steps can be taken while investing

When it comes to investing in gold during a recession, there are a few key steps that you can take to maximize your chances of success. 

First and foremost, you must ensure you are diversifying your portfolio. This means investing in various assets, including stocks, bonds, and gold. By diversifying your portfolio, you can protect yourself from the potential risks associated with any particular investment.

Another major step you can take while investing in gold during a recession is focusing on quality over quantity. This means buying gold coins or bars from reputable dealers rather than low-quality gold items from unknown sources. Focusing on quality can help ensure that your investment will retain its value over time.

Finally, remember to stay patient when investing in gold during a recession. The economic conditions that lead to a recession can sometimes take months or even years to play out fully. This means that it may take some time for the price of gold to rebound. 

However, if you are patient and wait for the right opportunity, investing in gold during a recession can be a great way to reach potential profits.

Advantages of investing in gold

Investing in gold has many advantages. For starters, gold is a highly secure investment. Its value does not fluctuate much, so you can be sure that your investment will be safe. Gold is also a very liquid asset, so it can be quickly sold for cash if needed. Finally, gold is an excellent inflation hedge. When the prices of other investments, such as stocks and bonds, go down, the price of gold often goes up, preserving the value of your investment.

Disadvantages of investing in gold

The high price of gold is one of the main disadvantages of investing in gold. When the economy is struggling, the price of gold usually goes up. This means that you may be unable to sell your gold for as much as you paid. Gold is also a very volatile investment. In a short amount of time, the price might swing dramatically up and down. This can make it difficult to predict what will happen to the price in the future.

Another disadvantage of investing in gold is that it doesn’t produce any income. Gold does not pay dividends or interest like equities or bonds. This means you’re relying entirely on the price to make money from your investment.

Finally, there are storage and insurance costs when investing in gold. You’ll need to store your gold somewhere safe and secure, which can cost money. You’ll also need to insure your gold against theft or damage, adding to your costs.

Conclusion

Gold has often been a good investment during economic recession and turmoil. While there is no guarantee that gold will always increase in value during these periods, it has historically been an excellent investment. If you are considering investing in gold, research and talk to a financial advisor to get the best advice for your situation.

Gold As Investment In Recession? Key Reasons Why Buying Gold Is Good Investment is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

Voice acting for videos is one of the most well-liked at-home occupations that use your voice. Online, numerous businesses employ people to perform these voice-overs. Finding a clever technique to advertise oneself to that demographic is required. Additionally, you can sign up for websites where you can advertise your services for a fee.

Do you want to use your voice to earn money from home? So, allow me to assist you. It is not difficult to use your voice to earn money from home. So how to make money with your voice? Here are some suggestions to get you started on the road to working from home doing voice-overs.

Commercial voice-overs

How to make money with your voice? One approach to using your voice to earn money from home is to voice ads. Online businesses that produce commercials employ voice actors. Once you have perfected them, these tasks are likewise quite simple to complete. It is advisable to compile a portfolio of voice-over ads if you are interested in doing voice-over work so that you have a sample to show potential employers. Keep an eye out for locations seeking individuals to appear in ads and send them a demo to get started.

Promote radio ads

Another way to make money through your voice is you can sell radio advertisements while working from home. For their advertisements, many radio stations employ folks like you and me. A good microphone, adequate soundproofing, and audio editing software are all you need. Look for places that need radio advertisements, such as podcasters and online radio stations. Additionally, you should record a voice-over demo of yourself reading several radio advertisements so they can hear your demo when you apply to a radio station.

Publish audiobooks

Because they make it simple to read while doing other activities like cleaning dishes, working out, gardening, driving a car, or even working, audiobooks are becoming more and more popular. The best way to learn is by listening to audiobooks, as it is a highly effective method. I constantly listen to audiobooks on my iPhone at x2 speed so I can process information twice as fast! Due to the significant demand for audiobooks, several businesses employ professionals to convert their written works into audiobooks. 

Gig economy on Upwork

Upwork is a well-known website for independent contractors with a variety of specialties. There are a few options for singers, and it’s a terrific location to find freelance writing or design projects. Sign up for the website, then look for performances that look interesting. There are jobs available for singing and using your voice, including song features, producers, vocal coaching, and many others. The cost of each gig will vary based on the task at hand and the employer, but Upwork is an excellent place to look for online singing jobs or even regular work.

Offer singing lessons online with TakeLessons.com.

If you have experience singing, you can make money by giving students throughout the nation online singing lessons. You can provide voice lessons only offered online through TakeLessons.com. Make a business profile on the internet that highlights your talents and qualifications. Then, Take Lessons will manage student scheduling and payments, so all you have to do is teach. You will have complete control over how you organize your time, allowing you to book lessons with students.

Read books aloud using ACX.

Have you ever heard someone compliment your voice? You might be able to earn money by reading audiobooks. Authors can convert their novels into audiobooks using the website. Create a profile on the website if you are a narrator looking to get paid for audio recording opportunities. They will then begin uploading samples and seeking jobs.

Voice Over Work That Utilizes the Ear

A media website called Ear Works offers voice-over services in addition to copywriting, video production, and audio production. For the projects of their clients, they use voice actors. To work for this organization, you must meet a few location restrictions; however, you can learn more and apply here. You can look at their resources page here if you believe you still need to improve your voice-over abilities.

For work as a professional voice actor, use Voices.com.

Another website that rewards voice actors is Voices.com. Voice is a prestigious platform that connects voice actors with freelancing chances to work on audiobooks, e-learning, videos, mobile apps, film projects, and more. (Find out how to pursue a career as an audiobook narrator). To achieve a better ranking profile that will allow you to apply for more jobs, you can either create a free account or pay for a premium membership. You can email an MP3 recorded file as an audition when you locate changes you like. For voice-over acting jobs, Voice.com offers good pay. Your potential earnings per project range from $100 to $2,000, as indicated on their rate sheet.

Develop Your Voice-over Career with Snap Recordings

Another voice talent website that is very similar to Voices.com is Snap Recordings. Talent can register for free, make a profile, and submit bids for jobs. The type of job that is accessible is the only significant distinction. Snap Recordings typically offer to record voice messages for their phone system or other parts of the business. They have more than 100 voice actors who perform a range of responsibilities for various companies, including greetings, messages on hold, and voice prompts.

Talking Bunny

To discover voice-over jobs in English and other languages or accents, you can register with Voice Bunny. The voice actors can choose their fees. Customers locate your profile and pick to hire you. Although applying to Voice Bunny is difficult due to its stringent qualifications, it is worthwhile to give it a shot if you are searching for flexible and lucrative online voice-over work and have expertise.

Conclusion to how to make money with your voice

As you can see, you will likely utilize your voice while working from the convenience of your home. And the best part about this is you can also determine your schedule, allowing you to accomplish this work on the side if you choose.

How Can You Make Money With Your Voice? Great Side Hustle Ideas! is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

The impacts of how inflation affects a common man are as discussed below-

Damages the common man disproportionately

Common man with lower salaries typically spends a higher percentage of their total income on needs than those with higher incomes, leaving them with less safety net against the erosion of purchasing power brought on by inflation. It is what economists mean when they say that a higher marginal propensity to consume is with lower incomes.

Policymakers and players in the financial markets frequently concentrate on “core” inflation, which excludes food and energy costs because they are more volatile and hence less representative of the longer-term inflation trend. However, lower-income wage earners in industrialized economies and people in emerging economies spend a disproportionately high amount of their weekly or monthly household budgets on food and energy, which are difficult to substitute or forgo as prices rise. Additionally, the common man is less likely to hold assets like real estate, as it is a hedge against inflation.

Instead, recipients of Social Security benefits and other government transfer payments get cost-of-living adjustments based on an index of consumer prices for hourly wage earners and clerical workers, which protects them from inflation.

Effects of inflation on a common man? Prevents deflation:

To fulfill its goals for stable prices and maximum employment, the Federal Reserve aspires for inflation of 2% over the long term. Instead of aiming for constant prices, it aims for modest inflation since this helps the economy function, gives room for error if inflation is overestimated, and prevents deflation, which can be far more destabilizing than equivalent inflation.

Lenders can charge interest during times of inflation to counteract the likelihood of a devaluation. By enabling borrowers, primarily regular people, to make future repayments using inflated money, inflation also aids in the repayment of debt. In contrast, deflation increases the cost of debt repayment because borrowers’ income would presumably decrease along with prices. Deflation deviates from the usual, so it’s also more likely to inspire predictions of deflation, leading to further losses in spending and income and a widespread loan default that might spark a banking crisis.

Because wages are sticky to the downside, mild inflation rather than deflation is more common. Layoffs are the most likely option for businesses facing a decline in demand because workers typically oppose attempts to reduce their pay during an economic slump.

A wage freeze will result in a decrease in actual labor costs if inflation is positive. Since inflation can also spiral out of control if it is high enough, it loses some of its benefits as a defense against deflation if it exceeds the usual and anticipated rate. It will have an increasing impact on the life of the average person.

When high, inflation consumes itself affecting the common man

A small amount of inflation is a strong economy and is unlikely to raise inflation expectations. Even 2% inflation is virtually unnoticeable if it was 2% last year and is 2% this year. In that scenario, businesses, employees, and consumers would probably anticipate that inflation will stay at 2% in 2019.

However, expectations of future inflation will eventually rise in line with the inflation rate when it suddenly accelerates and remains high. A wage-price spiral for the average person is triggered as expectations rise and workers start demanding higher wage increases, which companies then pass on by boosting production prices.

How inflation affects the common man? Interest rates are raised:

Governments and central banks have a strong motive to control inflation, as the examples indicate. The strategy has been to use monetary policy to control inflation. Policymakers can increase the minimum interest rate when inflation threatens to surpass a central bank’s target (usually 2% in industrialized economies and 3% to 4% in emerging ones), which raises borrowing costs throughout the economy by limiting the availability of money.

As a result, inflation and interest rates frequently follow one another. Central banks can tame the economy’s animal spirits or risk appetite as well as the price pressures experienced by the average person by increasing interest rates when inflation increases.

Lowers the cost of debt service for the common man

While those with fixed-rate mortgages and other loans benefit from repaying these with inflated money, which lowers their debt service costs after adjusting for inflation, while new borrowers, who are typically members of the public, are likely to face higher interest rates when inflation rises.

Consider borrowing $1,000 at a 5% yearly interest rate. The annual decrease in your inflation-adjusted loan balance will outweigh your interest charges if annual inflation rises to 10% in the future. This does not apply to adjustable-rate mortgages, credit card debt, or home equity lines of credit, all of which normally permit lenders to raise interest rates in response to inflation and increases in the Federal Reserve’s benchmark rate.

Increases employment and growth in the short term

Short-term economic growth can be accelerated by rising inflation. High inflation makes saving less appealing since it gradually reduces the purchase value of money. Consumer spending and company investment may increase because of that possibility.

As a result, unemployment frequently initially drops as inflation increases. Higher inflation can, at least temporarily, increase demand while bringing down inflation-adjusted labor costs, resulting in job growth. But eventually, a hard recession that resets expectations will be required to pay the price for chronically high inflation, or else the economy will continue to perform poorly.

Possibly lead to painful recessions affecting the common man

The issue with the trade-off between inflation and unemployment is that if higher inflation is accepted for an extended period to protect jobs, inflation expectations may escalate to the point where they trigger a vicious cycle of price and pay increases.

The Federal Reserve will therefore be obliged to hike interest rates far higher and maintain them high for a longer time to restore its damaged credibility and persuade everyone once more that it would control inflation. In turn, this will result in skyrocketing and persistently high unemployment.

How Inflation Affects Common Man: 7 Common Effects To Know is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

As brick-and-mortar establishments have become less popular as places to
conduct business, the online market has increased. In the online world, there are
various available things you can do. Those who have always wanted to start
their own business can finally do so. 

Creating your company is easier when you have lower startup costs and use
social media to sell your firm. Make this choice appealing to a wide range of
people, even those over 50. In the USA, many women over 50 are starting
enterprises because they are eager to learn new skills and adapt more quickly
than their male counterparts. How can you create an online business if you’re
above 50 and retired?

Recognize your strengths over-50 entrepreneurs have
various options:

Consider affiliate marketing, stock trading, or drop shipping. Many people want
to be consultants. Consider your qualities, skills, and hobbies if you’re going to
be an entrepreneur.
Starting a business beyond 50 does take time and work. Fun makes business
more accessible. Women have a learning advantage at this age, so try something
new and start a business. Make sure your business aligns with your passions.
You’ll be proud to show off your thriving web business after 50.

Determine the initial costs accurately

Online businesses have lower initial costs than traditional ones, but you’ll still
need money. An online business after 50 requires a website subscription.
Websites cost $10 to $50 per month, depending on your provider.
Social media ads need $5-$10 every day. Other costs must be considered. Your
tools and systems are crucial. The right method or application can save hours of
work and follow-up. Calculate startup costs with tools and systems.

Internet businesses don’t need a storefront, employees, or capital investments
like machinery and equipment. If you’re over 50 and considering an online
business, you may know how much to take from your retirement account! Your
internet business investment depends on how much you’ve saved for retirement
and spent on food and transportation.
When uncertain, use the 4% rule. This amount will keep your savings account
healthy. $500,000 can support a $20,000 business venture, allowing you to live
comfortably.

Create a marketing strategy

Marketing is an important part of starting an online business. Start with a
business plan. Starting a company requires a business strategy. In your business
plan, describe how you’ll get new consumers, provide goods and services, and
advertise—needed funds.
Social media and sponsored ads offer the best marketing ROI. As your company
grows, you will also be able to increase your daily ad budget to $50 to reach a
broader audience.

These user-friendly solutions are easy to master. If you don’t use technology,
you can hire specialists. Fiverr and Freelancer offer $5-per-task help. As you
grow, your online marketing strategy changes. Adjust your plan every year.

Bottom Line

It is possible to start an online business after 50, especially for women. There
are so many fantastic online opportunities available rights now, so don’t miss
out! Because of this, the online market is expanding and becoming more
diverse.
It would help if you had a straightforward concept, a solid business strategy,
and some initial funding to get started. Hopefully, you’ll be one of the many
successful entrepreneurs above the age of 50 shortly.

How to start an online business at 50? is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

Financial Compatibility In Couples

Arguments over money and how to deal with finances are all too common and can cause real harm in a relationship. Sometimes couples who agree on everything can have different views on money. 

We learn how and when to compromise with our partner about where to put the toothbrush and how to make their favorite tea or coffee. Similarly, we should have an early understanding about how to manage finances. Couples who don’t talk about money before marriage put themselves at greater risk of finance-related divorces down the line.

If you want your marriage to have the best start possible, do yourself a favour. Sit down and have the difficult talk-the one about money-with your partner.

When You Marry Your Partner, You Marry Their Finances. 

You may be marrying the love of your life, but money will still be a part of the equation. That’s why it’s so important to know everything about each other’s finances well in advance. From the amount of debt you both have to the types of assets you hold and any inheritances you might expect, don’t leave anything to speculation. Laying all the financial cards on the table should be viewed as an essential part of starting a new life with someone. 

Finanial Trust In Couples

Trust is an essential component of any relationship, and once broken, it may be impossible to put right. Financial disloyalty takes many forms — from undisclosed debt to secret credit cards and overdrawn bank accounts. Any of these could threaten your financial future or that of your partner.

Even if your relationship can survive a financial indiscretion, it could still take years for your family’s finances to recover. And if the situation ends in divorce, it could leave both parties worse off than they would have been otherwise.

If you want to maintain a relationship built on trust, you have to be honest with each other about your financial challenges and learn how to tackle them together.

Take A Step

We need to talk a lot about money. But it’s such a taboo topic that it can be daunting to get started.  In a perfect world, conversations about money and finances wouldn’t be so uncomfortable. But in the real world, financial discussions can be a considerable source of conflict, especially in a new relationship. It’s perfectly fine if you don’t want to talk about money on a first date. But as a relationship gets more serious, discussions about money, debt and interest payments become more important.

If you and your partner learn how to talk about finances now, those discussions will be a lot easier by the time you’re planning a wedding. And it’ll put you both on the right track to have a more successful future together.

Why Couples Should Discuss Finances is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

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.

4. The Ignoramus

There are those who are flat-out uneducated when it comes to their finances and show no interest in learning. They too may have the “you only live once” mentality when it comes to money — and end up spending all of it. This can be someone who doesn’t view money and credit as a tool for their future.

With all the resources out there to boost your financial literacy, it’s important to learn how to respect your money and use it to your benefit. Consider regularly reading personal finance articles and blogs. There is always more to learn about managing money, and it doesn’t have to be boring.

5. The Pessimist

Unlike the Risk Taker, the Pessimist may be afraid of taking risks because they fear things will not work out. This may be someone who puts off saving for retirement because they don’t think retiring is possible. A pessimist may also be afraid to invest in the market or buy a home. While having these reservations may make them feel more secure, they could be missing out on a chance for success by depriving themselves of growth.

Again, this is where finding the right balance in your portfolio comes into play. A well-balanced portfolio can limit risk while providing an opportunity for returns.

6. The Giver

Many find comfort and happiness in buying lavish items and things for themselves, while others prefer to purchase such things for their loved ones. Whether for a family member, partner or friend, they find joy in giving. This doesn’t sound like a bad trait to have, right? Well, it can be if it comes at the expense of your happiness. As much as you want to shower those loved ones with gifts, there ought to be limits.

If you find yourself being a giver, you may want to include a category in your budget for gift giving. Consider setting limits on how much you spend on gifts, and ensure it doesn’t keep you from reaching your goals.

More from Credit.com

• The Best Student Credit Cards in America
• Best International Travel Credit Cards of 2017
• The Best Credit Cards for People Who Hate Foreign Transaction Fees

This article originally appeared on Credit.com.

6 Types of People Who Have Trouble With Money is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

If you have any money at all, it doesn’t stand still. There are several ways this happens. If you want to get in control of your money, and your future wealth, it’s important to appreciate the way money moves and evolves. Without this knowledge, it’s hard to understand how your wealth will change over time.

Money Gets Stolen

Fraud is becoming ever more common in the personal finance space. Even if you haven’t had your own money stolen through fraud, you almost certainly know someone who has.

Between credit card schemes, data breaches, and the ongoing PPI scandal, it’s easy to lose money simply because someone else found a clever way to steal it. To keep this from happening to you, it’s important to: use credit cards (much easier to recover money stolen through fraud than with debit cards), contact Canary Claims – PPI claims company (if you have been victim of the PPI scandal), and never to put delicate personal information in places where it could easily be stolen (like in your primary email).

Money Loses Value on its Own

Money is just a physical placeholder of value, whether you’re talking about a physical dollar or a virtual dollar. The amount of value that a dollar can be exchanged for changes over time. Most of the time, money loses value due to inflation.

The best way to combat the natural loss of money’s value is invest it – to earn money at a faster rate than the value it loses due to inflation and other factors. There are a million ways to invest – stocks, bonds, real estate, futures, etc.

The thing not to do is to just put cash in a savings account or hide it under your mattress. If you do that, your wealth will be steadily slipping away.

Money Gets Wasted

If you manage to keep the previous two problems from happening to your money, all that’s left to manage is your own spending and saving habits. Lots of people never really get the bang of a budget. We spend impulsively, we neglect savings, and we don’t prepare for the future through investment.

No matter how much money you make, it’s possible to shoot yourself in the foot with excessive spending and debt. Without managing your spending and living beneath your means, it’s impossible to have an accurate sense of where your money is going and, often, how much you even have. Keep an eye on the money ingoing and outgoing from your accounts each day, and your money will stop slipping away.

Money isn’t static. As a placeholder for value, pieces of currency have the appearance of being set in stone. In reality, their value changes over time. The only way to preserve and grow wealth is to keep it from slipping away in the areas mentioned above.

3 Ways Regular People Lose Money Without Noticing is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

1. Avoiding Financial Conversations

The most important part of a relationship is honesty and trust. If you are getting serious with your partner, then you should consider sitting down and having a conversation about money before taking the next step. Speaking about your finances with your partner can be personal, however, if you plan to move in together and build a future, then you want to make sure you are on the same financial page. Ask yourself, Will you share a joint account? Joint credit cards? Who will be in charge of paying the bills? All of these questions should be addressed before taking the next step with your partner to avoid issues down the road.

2. Keeping Money Secrets

It is okay to keep some things personal from your partner, however, you might want to reconsider hiding financial secrets. If you or your partner has a large amount of debt, then it’s important that you let the other party know. (Not sure where your finances stand? You can view two of your free credit scores, updated every 14 days, on Credit.com.) Depending on how serious your relationship is, you should be aware or have an idea of how much your partner is making and how much they are spending on expenses. If you are hiding some big financial secret from your partner, then don’t you think they may be wondering what else you are hiding? Avoid this and consider establishing some ground rules with your partner before getting serious; make sure you can trust them.

3. Not Using a Compatible Budget (for Two)

The first step to staying organized financially is establishing a budget. Now, you may be following a budget already, but have you redesigned your budget to include two people? Budgeting for one is not the same as budgeting for two. You may have more money and more expenses. You might even be sharing a credit card. Consider speaking with your partner about their budgeting techniques and combining a new budget for the both of you. If you notice that you are getting tight on money at the end of every month, then consider trimming some of the expenses on your budget. It might be difficult at first, but focus on staying positive and making compromises. If you are experiencing trouble with budgeting, then consider downloading an app to help.

4. Not Having Savings

Sit down with your partner and discuss your short- and long-term goals. Do you plan to take a vacation together in the future? Are you planning on paying off all of your student loans in the next five years? Consider coming up with a list of financial goals you both plan to achieve, pick one and start saving! Work as a team to reach your goal. It can be very rewarding once you reach your number and go on that tropical vacation you both always wanted.

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This article originally appeared on Credit.com.

4 Bad Money Habits That Can Hurt a Relationship is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

As someone who writes about personal finance every week, I of course thought back to the money lessons I’ve learned during marriage. Some, such as saving for retirement and investing in mutual funds, may just be from getting older and aren’t entirely attributed to marriage.

But other money lessons I’ve learned were either from my wife or something we came across together as a married couple. Here are five money lessons I’ve learned while married:

Joint accounts

In the months before we got married, I asked a married couple we were friends with if we should have separate or joint checking accounts. I was leaning toward separate accounts, figuring we’d split the bills and pay them together, as a couple.

But that sounded too much like having a roommate. Our friends said that having a joint account was best because once you’re married, everything is shared and her money is his and vice-versa. Your money as a couple is commingled and it doesn’t matter where it came from when you’re paying life’s expenses. Two people become one, at least where money is concerned.

We’ve done that as a couple. Our joint checking account is used to pay our bills, and our joint savings account is used for emergencies and other purposes.

Still, a little separation

Everyone needs their own space, however, and a separate bank account can be a good thing in a marriage.

Why? Everyone needs a little spending cash in their pocket, and a separate account to draw on from time to time for purchases you want to make. This can be because you either don’t want your spouse to be aware of them, or the joint checking account only has enough money to cover the family’s expenses.

We each have separate accounts with enough money in them so that if something comes up that we really want — books are my common go-to items — then we can buy them without the guilt that our grocery budget is going to take a hit or there won’t be enough money in the bank to pay the mortgage this month.

Discuss the big expenses in marriage

We don’t have a set dollar amount that one of us can spend without consulting the other, but an expense of a few hundred dollars is the general area where we usually discuss it together as a couple.

This happens for a few reasons, the main one being that we don’t have enough of a family income to support large expenses without the other person agreeing to it ahead of time. If a big electric bill arrives and I go and spend $300 on new clothes, then we might have trouble paying that bill.

Another reason is to avoid surprises. I’m sure my wife doesn’t want to see me roll up in a new Porsche that I’ve just bought by depleting our savings account when that money is needed to pay property taxes and other expenses. However, if I’ve somehow saved for that car by squirrelling away money in my separate savings account for years, then that’s a possible purchase I’ll do solo. Doubtful, but possible.

Spend more if it makes your spouse happy

Maybe I’ve watched too many House Hunters shows on HGTV, but it often seems to have couples who disagree about how much to spend on buying or fixing up a house. He’s a cheapskate who wants to cut costs at every corner, and she just wants a nice kitchen that includes more than a hotplate.

I haven’t been married for an incredibly long time, but 17 years of marriage and being a cheapskate myself have taught me that if spending a reasonable amount of money above and beyond the norm will get my wife what she wants, then it’s money well spent.

We recently hired a contractor to redo our upstairs bathroom. I wanted quality components that wouldn’t break or fall apart in a few years, so I told the contractor to always buy quality items that were around the midpoint of what was available. If he needed to, spend the extra money to get the better quality faucet or whatever.

Make your expenses count

Partly as a joke, I used to tell my wife when she went to the farmer’s market or grocery store to stop and buy herself some flowers as a way to remember our marriage. I’ve tried to stop doing that and to instead go buy the flowers myself.

That small expense of marriage is more about the effort of remembering to get her flowers than it is the actual cost of the flowers.

Because marriage is the daily thought of someone you love, making small but thoughtful acts toward your spouse should be natural. But we all need reminders.

And it doesn’t have to be anything that costs you money. It can be as simple as opening the door for them, cooking them dinner, or giving a compliment. Or it can be as easy as remembering to buy flowers.

5 Money Lessons I Learned in Marriage is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

Nearly everyone has stuff in their home they no longer use, but they can’t stand the thought of just tossing the items in the garbage. After all, those things still have value, right? So why not sell it? You’ll not only declutter your home, but you’ll pocket a little cash as well.

Decluttering your home is a good way to make some extra money and make it easier to clean and maintain your home in the future. Here’s how you can get rid of your junk, declutter your home, and make money. I’d call that a win-win-win!

1 Designate a Collection Zone.

Depending on just how much stuff you have and how large the items are, you might need to decide on a specific location in your home to temporarily place items you are collecting until you can get them sold in a garage or yard sale, or online. Make sure it’s out of the flow of traffic, but somewhere you can easily access.

2 Identify Items to Sell.

Go through the rooms in your home one by one. Scour them from top to bottom. Be ruthless as you declutter your home. That dress hanging in the closet you love from ten years ago might need to go. Yes, you still love it, but it hasn’t fit for the last four years and it’s probably out of style, so why are you keeping it? Styles have changed and tomorrow you’ll love something else just as much. Put it in your sale pile. Hopefully it’s not too late to get it sold. The more often you tackle this project the easier it will get and the more money you’ll be able to recoup from your stuff as it gets more timely and not as out-dated.

3 Choose a Sales Medium.

Are you going to list the items on E-bay or Craigslist, or, will you be having a garage sale? The choice you make could have an effect on how much money you make from a particular item or group of items. For example, a designer handbag will probably net you more if you sell it online than you would get at a garage sale. However, you might have trouble selling those old shorts on-line, so put smaller items like those in a garage sale instead.

4 Determine Each Item’s Value.

This might not take long for some things, such as a pile of old t-shirts. If you are having a garage sale, for instance, you might consider making all t-shirts the same price rather than marking each item. Think about the time you are willing to invest in stuff you aren’t keeping and streamline as much as possible. For other items, such as the name brand purse, you might want to invest a little more time researching what similar items are bringing online and list it at a comparable price. Keep in mind shipping costs and seller’s fees also affect the final amount you make from selling the item if you list it online.

5 Don’t Get Emotional.

If you let your feelings get involved, you could end up losing a sale. Just because you paid a certain price for something doesn’t mean you will actually get anywhere near that much when you sell it. Remember, the ultimate goal here is to declutter your home and recoup some money at the same time.

Hopefully these ideas will help you declutter your home while at the same time adding a little money to your budget.

Have you had success decluttering your home and selling some to make money?

Ways to Make Money: Declutter Your Home is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.