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4 Money Habits to Adopt Before 2022 Rolls Around – Motley Fool

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by Christy Bieber | Published on Nov. 20, 2021
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They could help you end the year with much more money.
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Many people make financial resolutions at the start of a new year with the goal of improving the way they manage their money. But there's no reason to wait until next year to adopt better money habits. In fact, you still have plenty of time left in 2021, and you may as well start making smart money moves now so you can end the year better off and end up ahead of the game by the time January 1 rolls around.
So, what are some of the best money habits that you should adopt ASAP if you haven't already? Here are four of them.
If you are spending every dollar you earn, you won't be able to do things like save for emergencies, invest for the future, or make big purchases without reaching for credit cards or otherwise going into debt.
You don't want to live paycheck to paycheck and have to wait for your next dollar to cover expenses while not acquiring wealth. That's why it's important to start spending less than you earn ASAP.
The more of your money you can save rather than spend, the faster you can accomplish important financial goals and build more security for yourself.
If you aren't already living on a budget, chances are good that you're engaged in some spending habits that prevent you from getting the full value of your money.
By making and living on a spending plan, you can ensure you make the most of every dollar — and that some of your money is being used responsibly to build wealth and accomplish goals. You can also open up the door to guilt-free spending on things you enjoy by budgeting for them.
Coupons are a great tool that can help you save more and spend less without changing your lifestyle. There are tons of coupons available online and in the newspaper that you can use to make everything from groceries to clothing purchases less expensive.
Before you make any purchase, search to see if there is a coupon available for it. Taking a second or two to look for this savings opportunity can do more to lower your costs than you might expect. Once you've found ways to save by using coupons, you can also adjust your budget so you're doing smart things with the cash that you've freed up.
It's hard to build wealth unless you put your money to work for you. You need to start buying assets that produce a return on investment so you can benefit from compound growth. This occurs when the returns that you've earned by investing are reinvested and start earning returns of their own.
You don't need a ton of money to start investing, nor do you need a lot of knowledge thanks to brokerage firms with no fees, robo-advisors, and ETFs that track financial indexes such as the S&P 500 (an index made up of stocks of 500 of the largest U.S. companies). The key is to do a little bit of research to get educated. Learn about investment options and risk tolerance and start investing as much as you can ASAP. This way, you can improve your net worth and build a more secure future.
If you live below your means, use coupons, and live on a budget, you should be able to free up plenty of money to invest so you can start growing your wealth even before 2022 rolls around.
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Christy Bieber is a personal finance and legal writer with more than a decade of experience. Her work has been featured on major outlets including MSN Money, CNBC, and USA Today.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Many or all of the products here are from our partners that pay us a commission. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.
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The average cost of a vacation: Transportation, food, entertainment and more – Bankrate.com

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Americans are ready for a vacation. According to a survey from AAA Travel, 55 percent of adults in the U.S. are planning a getaway of at least one night before the end of 2022.
It’s smart to plan, save money and budget for a vacation, especially since some places still have COVID-19 restrictions and the cost of fuel, food and most everything else is on the rise.
Vacation costs vary tremendously depending on the destination, accommodations, activities and other factors. The average cost of a one-week vacation in the U.S. for one person is $1,558. Here are some average costs to help you budget for your vacation.
Transportation, accommodations and food and entertainment are the main expenses of a vacation budget. Let’s look at each of these categories more closely.
Getting to and from your vacation destination can account for the single largest chunk of your vacation budget, so start with transportation costs when planning your trip. Besides airfare, if you’re flying, consider other transportation costs. Do you plan to rent a car? If so, you have to figure how much you expect to spend on gas, tolls and parking fees.
If you plan to take public trains and buses or use rideshare services such as Uber and Lyft, tally those costs into your total transportation budget. If you’re leaving a car at the airport, don’t forget to add that in, too.
Airline ticket prices plummeted 19 percent in 2020 due to COVID-19, but prices are rising due to increased demand and higher fuel prices. The majority of Americans plan to take their first post-pandemic trip to visit family and friends.
Hotel prices vary dramatically depending on the location and demand. An oceanfront hotel room in South Florida, for example, will cost more in the winter months than in summer, when deals can be found. If your budget isn’t generous and you’re OK with fewer comforts, hostels or a recreational vehicle park can save you money.
Food and entertainment expenses can lighten your wallet if you don’t draft a thorough vacation budget. They tend to be among the last costs travelers consider when planning a trip.
Budgeting for a family vacation can be trickier than budgeting for a solo trip, especially if young children are coming along. You probably won’t be eating at posh restaurants and strolling museums with kids in tow, but you likely will have to budget for a bigger hotel room and reservations for activities they’ll enjoy. Don’t forget to look for group rates and discounts, if eligible.
AAA’s latest Travel Trends report shows that baby boomers spend the most on vacations, probably because 53 percent of them are retired. Millennials spend the least, but are more likely than other generations to use technology to book plans ahead of time.
In addition, millennials are most likely to go in debt for travel, according to a VRBO survey, with baby boomers least likely to go in debt for vacations.
A “staycation” is a vacation without travel. You stay home, but take day trips. No packing, no checking in and out of hotels, no renting cars, no air travel. A staycation can be less stressful, and certainly less expensive, than a traveling vacation. Aside from the money you save, a staycation has other advantages. Here are some of the pluses of taking a staycation versus a vacation:
Planning a vacation on a budget requires forethought and creativity, but the time and effort invested could not only save you money but also make your vacation go smoother.
Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. Bankrate.com does not include all companies or all available products.
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REITs Are Recurring Revenue Models By Default – Seeking Alpha

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