Money Saving Tips For Time Share Properties

Shereen Travels Cheap

We may hope to retire to this property some day and most likely use it as an extra revenue stream by renting it out to our fellow tourists when it’s not in use. In order to make a timeshare property a viable and profitable enterprise we need to find ways to cut costs wherever we can.

2018 130

Introducing: Family Budget Spreadsheets

Family Balance Sheet

There was a month in 2013 where I hadn’t planned on a large property tax bill and I wasn’t sure where we were going to find the money. We could afford a camping trip, we could pay our tax bill on time, and we could pay cash for Christmas, but we needed to PLAN for it. Personal Escrow – Use this spreadsheet to plan for your high yearly expenses, such property taxes, association fees, insurance, etc.

Budget 140

Create a Personal Escrow Fund | 31 Days to Organize Your Finances

Family Balance Sheet

Does your property tax bill give you anxiety? Our homeowners insurance and property taxes are not tied in with our mortgage so we receive those bills and are responsible for paying them instead of the bank that owns the mortgage.

Four Reasons to Have a Gravel Driveway

Prairie Eco-Thrifter

Because of this, in April 2013, Maryland lawmakers implemented what is referred to as a Rain Tax. According to The Washington Times : “The Rain Tax essentially charges homeowners for any surface of land they own that does not absorb rainwater. I grew up with gravel driveways.

A Goal Without a Plan is Just a Wish

Family Balance Sheet

On top of our normal day to day expenses, the new property taxes were due, we had more ownership expenses than we realized, and we had a family to feed. As much as I wanted to be a property owner, the extra debt was beginning to suffocate us.

Goals 236

5 Books with Insights that Changed the Way I Think About Money

Prairie Eco-Thrifter

We have to pay for maintenance and property taxes and the interest on the loan. These costs are are only partially offset by the fact that, in the United States, I get a tax deduction for some of them. When I was growing up, my ideas about money were limited.

Money 248

Selling Your Investment Property?

Prairie Eco-Thrifter

If your relationship with that investment property has soured, maybe it is time to sell. You bought the property in hopes that your renters would pay your expenses while the property appreciated. Taxes. Real estate is subject to yearly taxes by the county.

2014 203

Things I’ve Learned During 30 + Years of Home Ownership

Prairie Eco-Thrifter

Eminent domain allows governments to seize personal property if it is in the public good. At that, we were luckier than some, who in areas around us lost their entire property (well they were paid a pittance for it) so that a race track and shopping area could be built.

2015 222

Benefit from My Financial Mistakes

Prairie Eco-Thrifter

I also wish that we had taken on loans to buy investment property after we got financially established after our first 15 years. Although my spouse and I have done well financially, there are things I wish I had done differently! Here are some of my financial mistakes.

2014 199

Why You Should Be Skeptical of Financial “Rules of Thumb”

Prairie Eco-Thrifter

And what happens when you add in property taxes, utility, home insurance, and maintenance? Rules of thumb are often used to make various financial decisions.

2013 226

How Much Money Can You Live Off Of?

Prairie Eco-Thrifter

Any housing related insurance fees and property taxes are also important to include. There was a story that went viral last year about a young couple that was determined to see how little they could live on each day. The project was called the One Dollar Diet Project.

Money 180

Should YOU Buy a Boat?

Prairie Eco-Thrifter

We own a lake front property, yet do not own a boat. These will include things such as insurance, property taxes, gasoline (to get to the lake and to boat on the lake), maintenance, boat slip fees and storage fees in off season. Although we live in the Midwest US, every weekend (and weekday during summer months) we see folks in their pickups hauling boats on trailers.

2016 135

How to Save Money on Your Home’s Mortgage

Prairie Eco-Thrifter

The lenders use it to protect their interest in the property. PMI should automatically terminate once you have paid the loan’s balance down to 80% of the total property value. Get a property tax assessment. Your tax bill could be incorrect.

Money 151

How to Save on Rental Cars

Prairie Eco-Thrifter

The sales tax, plus the ongoing higher property tax and insurance are really turning him off – and the van does fine if we drive it locally or just for a few hours to the lake. Airports are notorious for tacking on fees and taxes.

How to Say No When a Sibling Asks for Money

Prairie Eco-Thrifter

She has not been able to pay the real estate property taxes on your parent’s house (which she inherited) and has come to you for help. Don’t forget to enter to win an iPad 3 here at PET. Only 1 day left.

Money 271

Save Taxes: Negotiate A Reduction in Your Assessed Value

Prairie Eco-Thrifter

If you own real estate, you have been, or someday will be, confronted with a rise in your assessed property value. This usually leads to an increase in your real estate taxes! Increases in your assessed value can sometimes be negotiated downward, saving you tax money.

Taxes 182

How to Start a Budget (and be successful at it!)

Family Balance Sheet

Many years ago, our cash flow sucked, we put Christmas on a credit card, and I wasn’t sure how I was going to pay for a large tax bill. A zero-based budget is planning for every single dollar of after-tax income. At the top, write the word, “INCOME” and then list all of your after-tax income sources for the month you’re planning, and total the income. If your paychecks are inconsistent, you will need to cautiously estimate your after-tax income.

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