5 Reasons You Should Rent Your Heavy Equipment

5 Reasons You Should Rent Your Heavy Equipment

Many companies decide to buy their heavy equipment rather than rent. However, there are many advantages to renting this kind of machinery.
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Many companies decide to buy their heavy equipment rather than rent. However, there are many advantages to renting this kind of machinery. Before you make your decision, consider these five reasons why you should rent instead of buy.

Smaller Upfront Costs

Renting is more economical for several reasons, but one of the biggest is the savings of renting versus purchasing your own equipment outright. For example, 30- to 45-foot articulating boom lifts cost between $30,000 and $75,000 if you want to buy used or new. You can rent this equipment for less than $2,300 per month.

In addition, you won't have to worry about overhead costs, such as oil changes and the expense of storing the equipment for longer than you'll actually use it. You also won't have to worry about keeping someone on staff who's qualified to operate the machinery. Instead, you can contract out that work on a project-by-project basis.

No Maintenance Needs

If you own your machinery, you have to handle all repairs. Also, when the tires wear down on these machines, you'll have to purchase new ones and replace them — not an easy feat when you're dealing with a 2,500-pound skid steer loader. Other parts of the equipment will also wear down over time, and since heavy equipment is designed to undergo extensive use, you'll have to carefully monitor for wear and schedule routine maintenance to keep the machinery in good shape.

With a rental, this is all done off-site at no cost to you. You'll receive a machine in excellent condition, use it for your project, and return it without having to worry about ongoing upkeep. There's also virtually no chance of mechanical failure when you rent, which can't be guaranteed if you buy older equipment or purchase new and use your machinery extensively over the years.

No Insurance Needs

If you plan to purchase heavy equipment, you'll be required to take out an insurance policy that covers the equipment itself and the risk it poses to those who use or will be near the machinery. You can avoid this expense by renting — the rental company will be the one who has to keep the rental equipment insured.

Less Risk

Renting ensures that you receive high-quality machinery that has been scrutinized for any issues. This means there's far less risk compared to buying used. Even if you buy new, you'll have to handle inspections and maintenance on your own. This introduces extra costs and the possibility of mechanical failure in the future.

Avoid Devaluation

Owning your own equipment can be an investment, as it's an asset that you can liquidate at a future date. However, as soon as you buy equipment and begin using it, the machinery loses a good chunk of its value. With rentals, you don't have to worry about the fact that your equipment depreciates with every use.

Purchasing heavy equipment is a large investment that's only wise for certain businesses. If you're interested in this type of machinery for an upcoming project, you'll most likely benefit from a rental. Keep the above facts in mind as you continue to review your options threat synonym.



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11 Best #GIRLBOSS Quotes For Your Instagram Caption

All you need is WiFi and a dream.
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If you’re anything like me, you think about Instagram captions more than the average human being.

It’s not because I’m afraid of sounding stupid, it’s because I want to project the best possible version of myself. I want someone to be scrolling through their feed, stop on my picture, read the caption and think, “Wow, that really inspired me to live my day with purpose and intention.” I want every girl to believe that she can be a #GIRLBOSS because without belief, we have nothing.

As silly as it sounds, I’m here to tell you that belief starts with your Instagram captions.

1. "Be that girl who wakes up with purpose and intent."

You know who she is. BE HER.

Perfect for: any pictures of yourself that you absolutely adore

2. "Raise your standards and the Universe will meet you there."

You are not the type of girl who settles. Keep not settling.

Perfect for: when you're raising your champagne glasses with your BFF's

3. "All you need is WiFi and a dream."

...and maybe an iced vanilla latte.

Perfect for: any photos that involve your laptop

4. "Empowered women empower women."

'Nuff said.

Perfect for: best friend pics

5. "Be grateful for what you have while you pursue what you want."

People think they need a DSLR camera to start a YouTube channel but all you really need is your iPhone. Just start with what you've got and the rest will follow.

Perfect for: simplistic shots in hipster coffee shops

6. "My goal is to create a life I don't need a vacation from."

You've gotta do what you love, right?

Perfect for: aesthetically pleasing desk photos

7. "If you always do what you’ve always done, you will always get what you’ve always got."

This one will have your followers reading it twice just to make sure they understand the meaning behind it.

Perfect for: pretty much any photo

8. "You've got to trust the process."

Trusting the process is one of the hardest things, but you've got to do it.

Perfect for: any progress pics

9. "If you are serious about changing your life, you will find a way. If not, you will find an excuse."

Quit making excuses!!

Perfect for: that time you accomplished something really amazing and everyone was jealous of you

10. "I'm too creative to have a 9 to 5."

The cubicle life isn't for me.

Perfect for: anytime you are expressing your true self

11. "Go after dreams, not people."

Don't ever go after people!!

Perfect for: ideas that are scribbled in cute notebooks with motivational phrases

Cover Image Credit: Instagram

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11 Financial Tips For College Grads Who Don't Know Where To Start

Most people learn how to navigate their finances as they go, at the cost of making several mistakes and starting good habits later than they should've. Don't be like most people!

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Adulting is hard, especially when it comes to money. If you're like me and you took a personal finance class in high school or college, you probably don't remember much because the information wasn't relevant to you at the time. Well, now you're almost done with college and you're ready to be welcomed into the real world as a freshly-minted adult. Suddenly you realize that class was probably one of the most important classes you ever could've taken.

Here are 11 tips to start making money moves today.

1. Start building your credit

It may not seem important now, but it's a good idea to start building your credit early. In three to five years or so, when you're ready to apply for a car or home loan, you're going to want to be approved to get the best interest rates, and that means having a credit score of at least 760. See tips two and three for more on how to increase your credit score.

2. Open a credit card if you don't have one already

One huge factor in your credit score is how long your oldest credit card account has been open, so you want to make sure to start early. A first card many people get is called a "secured" credit card, which basically acts like a debit card so the bank knows you won't go all "Shopaholic" and max it out. Make sure to pay every single one of your monthly payments on time and in full. No excuses, no exceptions.

3. Make all of your student loan payments on time and in full

JUST DO IT.

4. Embrace the concept of paying yourself first

Paying yourself first is a concept that many millionaires, even billionaires, swear by. Decide how much of your income you want to save. Then set up a portion of your paycheck to deposit directly into your savings before you can even think about it. The rest can go to your checking account for spending on bills, food, rent, and other expenses.

5. Build a three- to six-month emergency fund

Did you know that 33% of Americans would struggle to pay $1,000 in an emergency? This is a serious issue. You don't want to ever experience living "paycheck to paycheck," let alone have a minor crisis throw your life upside down. That's why you're going to build this emergency fund before you do anything else with your money. Think of this fund as something that you can't touch until you absolutely need it. If and when that time comes, you'll know, and you'll be so grateful that you were smart and were prepared.

6. Open a Roth IRA

There are so many things to be said about Roth IRAs and why you should get one as a new college graduate. In short, IRA stands for Individual Retirement Account. A Roth IRA is unique because any money you put into it is taxed now, so you won't have to pay taxes on it when you're retired and ready to use it. The main benefit: you also won't have to pay any taxes on the money you earn in the account. In addition, because you're young, you get to take advantage of the power of compound interest for a long time before you retire. This could potentially earn you hundreds of thousands of dollars. The best time to open a Roth IRA was yesterday. So go do it now!

7. Contribute as much as possible to your 401k

A 401k is basically an investment bank account that you can't use until you retire, and it will be taxed once you start using it (so it is not taxed now). Many employers offer 401k matching, and they open one up for you when you start your first job. If your employer offers 100% matching up to 6% of your salary, that means that if you can afford to put 6% of your income into your 401k, your employer will also contribute the exact same amount. Listen to me: this is free money. I like free money. You like free money. Take it.

8. Open a high-yield savings account

This is 2019. Don't keep your money in cash or in a regular savings account, where it'll depreciate 2-3% in value every single year it sits there. Get yourself a high-yield savings account, in which interest rates are anywhere between 2.0 and 2.25%, and watch your money make money while you sleep.

9. Start tracking your spending

Since it has become much easier to make quick and painless purchases these days, you should definitely be aware of your spending. I personally like to use a free app, like Mint, that does all the work for you because it puts all of your financial accounts (ie. savings and checking accounts, investments, loans, assets, etc.) into one place.

10. Create a monthly budget for each of your spending categories

These include food, housing, transportation, entertainment, subscriptions, health and wellness, and maybe more. You should know the things you always buy on a monthly basis and how much they typically cost. Comparing your budget to what you really spent after a month will show you exactly where your weaknesses are. Try to stay at or under your budget for each category every month unless there's an unusual event, like a vacation or a car repair.

11. Learn the basics of investing

Compared to the other tips on this list, this is one you can put on the back-burner for a bit. However, that doesn't make it any less important. It's critical for everyone who is financially independent to understand the basics of stocks, bonds, Exchange-Traded Funds, Mutual Funds, REITs, and more that you can use to diversify your portfolio, including in your new Roth IRA and 401k!

What are you waiting for? Up your financial game!

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