Lifestyle, Money

Tips To Survive Rising Prices Without Taking On Debt

by Benjamin Roussey|Posted on October 10, 2023 | 4 minute read | Advertiser notice

As the cost of living continues to increase because of government overspending, many individuals and families find themselves facing financial challenges. Rising prices for essential goods and services can put a strain on your budget and make it tempting to turn to debt as a solution. With that said, accumulating debt can lead to long-term financial stress and difficulties.

Reduce Non-Essential Spending

Evaluate your spending habits and identify areas where you can cut back on non-essential expenses. Consider dining out less, canceling unused subscriptions, and finding alternative ways to entertain yourself and your family that don’t require spending money. Redirect the money you save toward essential expenses and your emergency fund.

Shop Smart

Be a savvy shopper by comparing prices, looking for discounts, and using coupons or cashback offers. Buy generic brands instead of name brands when possible, and take advantage of sales and promotions. Additionally, consider shopping at discount stores or buying in bulk to save on everyday items.

Increase Your Income

Finding ways to boost your income can help you weather rising prices without resorting to debt. Consider taking on a part-time job, freelancing, or selling unused items to generate extra cash. Increasing your income can provide a much-needed financial cushion during challenging times.

Negotiate with Service Providers

Contact your service providers, such as cable companies, internet providers, and insurance companies, to see if you can negotiate lower rates or switch to more affordable plans. Loyalty discounts or bundle packages may also be available, helping you reduce your monthly bills without sacrificing essential services.

Invest in Energy Efficiency

Rising utility costs can be a significant strain on your budget. Invest in energy-efficient appliances, improve insulation, and take steps to reduce energy consumption in your home. These efforts can lead to long-term savings on your utility bills which are going up unfortunately because of current policy.

Consider Transportation Alternatives

If rising fuel prices are impacting your budget, explore alternative transportation options. Carpooling, public transportation, biking, or walking can not only save you money but also reduce your carbon footprint. But be careful – public transportation comes with risks – you have to make this decision on your own.

Embrace the Sharing Economy

The sharing economy has expanded in recent years, offering opportunities to save money. Consider using ride-sharing services, renting out your spare room on platforms like Airbnb, or borrowing tools or equipment from neighbors instead of purchasing them. These options can help you reduce expenses and generate extra income.

Participate in a Community Garden

Growing your own fruits and vegetables in a community garden can be a cost-effective way to supplement your grocery bills. Plus, it’s an eco-friendly option that promotes sustainability and self-sufficiency.

Explore Subscription Swapping

If you have subscriptions to services like streaming platforms, magazines, or meal kit deliveries, consider swapping with friends or family members. For example, you can share access to different streaming services with friends, each paying for one, or trade magazine subscriptions you’re finished reading. This way, you can enjoy a variety of content without the full cost.

Bartering and Skill Exchange

Bartering or skill exchange can be an innovative way to get what you need without spending money. If you have a skill or service to offer (e.g., web design, tutoring, gardening), you can exchange it for goods or services you require. Online platforms and local community groups can help facilitate these exchanges.

Use Cashback and Rewards Programs

Make the most of cashback and rewards programs associated with your credit cards or loyalty cards. These programs can offer significant savings on everyday expenses. Moreover, it’s vital to use them responsibly and pay off your credit card balance in full each month to avoid accruing debt.

Explore Buy Nothing Groups

Join local “Buy Nothing” groups on social media platforms, where community members give away items they no longer need for free. This can be an excellent way to acquire household items, clothing, or even furniture without spending money.

Try Second-Hand Shopping

Consider buying second-hand items instead of new ones. Thrift stores, consignment shops, and online marketplaces like eBay or Facebook Marketplace often have quality goods at a fraction of the cost of new items. This approach is both budget-friendly and environmentally conscious.

DIY Home Repairs and Renovations

Instead of hiring professionals for home repairs and renovations, learn to tackle some tasks yourself. There are numerous online tutorials and DIY resources available that can help you save on labor costs while increasing your home’s value.

Participate in Cashback Apps and Surveys

Download cashback apps or participate in online surveys and market research studies that offer monetary rewards. While these may not provide substantial income, they can generate extra cash or gift cards that you can use for everyday expenses.

Practice Minimalism

Adopting a minimalist lifestyle can help you cut down on unnecessary spending and reduce clutter in your life. Evaluate your possessions and focus on what truly brings value and happiness. Selling or donating items you no longer need can also provide a financial boost.

Seek Financial Counseling

If you are struggling to manage your finances during a period of rising prices, consider seeking the assistance of a financial counselor or advisor. They can provide personalized guidance and strategies to help you stay on track financially and avoid accumulating debt.

Avoid Expensive Debts to Live Life on Your Own Terms

Rising prices can pose financial challenges, but taking on debt should not be your first option. By following these tips and strategies, you can create a solid financial foundation, reduce expenses, and find ways to increase your income. Managing your finances wisely will help you navigate rising prices without compromising your financial well-being. Remember that financial stability is a long-term goal, and making informed decisions today can lead to a brighter financial future. We’ve all seen the movie Dumb and Dumber.

Business, Culture, Lifestyle, Money

P&G Good Everyday – It’s Our Home: Join the Movement to Protect Our Planet

by James Flores|Posted on May 1, 2023 | 2 minute read | Advertiser notice

*In a world facing mounting environmental challenges, the need for collective action has never been greater. P&G Good Everyday presents an empowering initiative that allows you to effortlessly contribute to the well-being of our planet.

By becoming a part of this impactful campaign, you not only gain exclusive rewards but also actively support charitable causes dedicated to environmental preservation. Let’s delve into the realms of P&G Good Everyday and discover how you can play a pivotal role in shaping a sustainable future for all.

Earn Rewards and Get Ready to Ignite Change

With P&G Good Everyday, your every action carries weight and purpose.

You can take the first step towards change just by joining the platform. Get rewarded in simple steps like immersing yourself in captivating quizzes, enlightening surveys, or even by simply scanning your receipts featuring P&G products. Each interaction accumulates valuable points, which you can later redeem for a plethora of exciting rewards. From coveted gift cards to thrilling sweepstakes entries, the rewards are as diverse as your engagement.

So, get ready to embark on this transformative journey, knowing that the more you participate, the more you earn.

Click the banner below to find out more!

Donations that Forge a Difference: Fueling Charitable Causes

At the heart of P&G Good Everyday lies an extraordinary commitment to championing charitable causes.

As you earn points and unlock rewards, P&G automatically extends its support to the very causes that resonate with your values. This profound gesture comes at no cost to you, effortlessly channeling resources to organizations that tirelessly protect our planet. By simply being a part of this program, you become an agent of positive change. It also helps in contributing to the safeguarding of our environment and the preservation of its awe-inspiring beauty.

Nurturing Our Natural Heritage: Planting Seeds of Change

By enrolling in P&G Good Everyday, you directly contribute to the restoration of our natural heritage. With each new member, P&G takes an extraordinary step towards reforestation efforts, planting a tree as a testament to your commitment.

Through your active participation in P&G Good Everyday, you play an integral role in restoring and preserving these essential ecosystems, ensuring a harmonious coexistence for generations to come.

Join the Movement, Empower Our Future!

P&G Good Everyday is far more than a mere rewards program—it is a movement that aspires to build a better world for future generations.

By engaging in this visionary campaign, you become part of a passionate community dedicated to safeguarding our planet. Remember, every action, no matter how seemingly small, possesses the potential for a collective impact. Through P&G Good Everyday, you hold the power to enact change and create an enduring legacy for the environment.

Play Your Part in Fostering a Sustainable Tomorrow!

As guardians of this precious planet, we bear a shared responsibility to embrace meaningful action. P&G Good Everyday empowers you to seamlessly integrate environmental stewardship into your daily life. By signing up, engaging with the platform, and redeeming rewards, you actively contribute to the charitable causes that safeguard our planet’s well-being.

It is time to join this remarkable movement and be an agent of positive change. Together, we possess the capacity to leave an indelible mark, crafting a sustainable future for all. Embark on this transformative journey by visiting P&G Good Everyday – It’s Our Home.

Let us pave the way towards a greener, brighter tomorrow!

*This post is sponsored and/or is an ad.

Finance, Lifestyle

Tips To Boost Your Credit Score Fast

by Benjamin Roussey|Posted on February 11, 2023 | 3 minute read | Advertiser notice

A good credit score is one of the most important weapons in your financial arsenal. It tells loan officers that you are a responsible borrower who can afford to pay off personal debt. The higher your credit score, the better your chances that you will receive favorable loan terms when you apply for personal credit, such as a mortgage or a new car loan.

Whether you want to buy a house or just need some improvement in your current credit standing, boosting your credit score can be valuable in times of high inflation and high energy costs. To help, we have compiled this list of quick tips for improving your credit score.

Make Timely Payments on All Debts

The first step to building a solid credit score is ensuring you make all your payments on time. If you have multiple credit accounts, making due dates a priority is vital. Adding these due dates to your schedule can help you stay on top of payments and avoid late fees.

All late payments are counted against you on your credit report, and missing even a single payment can cause severe damage to your credit scores. You should also apply for new lines of credit only when you are ready to use them responsibly—opening accounts without a plan is risky and could hurt your credit score if you’re not careful.

Besides, the best way to maintain a good debt-to-credit ratio is by paying more than the minimum due each month. This not only gets rid of your debt faster, it will also help you avoid late payments and other costly penalties.

Limit New Credit Applications and Keep Old Credit Accounts Open

Banks perform hard inquiries into your credit report when you apply for new credit (i.e., a credit card, a car loan, or a mortgage), and the inquiry can temporarily lower your score.

This is because the inquiries indicate to lenders that you’re looking to take on more debt, making them leery of lending to you—even if you’re an excellent credit risk. The best way to avoid these inquiries is by keeping old accounts open—the longer you have an account, the more it will positively affect your score.

At the same time, you want to limit new credit applications as much as possible because each one results in another inquiry. Since most people are responsible with their finances and don’t tend to ask for new loans too often, there’s no need to open up too many cards at once.

If you need a new line of credit, close an old account before applying for the new one so that you have fewer accounts on record. In addition to limiting inquiries when it comes time for a new loan, it’s also important to keep older accounts open for as long as possible. The longer you have an account, the better your score will be.

Consolidate Your Debt

Consolidating all your debts into one single monthly payment will help you save time, effort, and money. Here’s how it works: if you’re paying off multiple loans and/or credit cards each month, having more than one creditor requires more time to track payments and budgets.

In addition, if one loan starts making late payments, it can have a chain reaction on all other loans. Consolidating allows you to have just one creditor and only one payment due each month. As a result, you’ll save time by no longer having to deal with multiple creditors and the hassle of tracking multiple bills.

Monitor Your Credit Report & Dispute Any Errors

Your credit report is a snapshot of your financial history, and most banks and lenders use it to determine whether you’re someone they want to do business with. That’s why it’s essential to ensure your report is accurate. Not only can wrong information on your report make you look like a higher credit risk than you actually are, but the process of correcting that information can be tricky and time-consuming.

To protect yourself, you should check your report regularly for any errors affecting your score. If you find anything that looks wrong or out-of-date, or if you’re being charged for something you don’t recognize (like a late payment on a debt that’s already been settled), you can dispute it.

If you find any errors on your report, you’ll need to contact the credit bureau directly and submit a dispute form by mail or online. You can also submit supporting documentation along with your complaint.

Lifestyle

6 Signs That You Are Ready For Early Retirement

by Benjamin Roussey|Posted on July 18, 2021 | 3 minute read | Advertiser notice

People work because they like to work or because they have no choice. Some of them find work that they love, and at best, they may ease off on their workload because of other interests or commitments. Others work to earn money and build a nest egg for their later years. In either case, you can always pursue your dream of early retirement if you have prudently planned your finances.

How Do You Make Early Retirement A Reality?

How do we know when we have enough money to live on? This requires determining a reasonable estimate of how much money we will need after retirement, after adjusting for cost inflation, and the foreseeable future trends of the economy. While the economy and inflation are factors that can be uncertain, we can have greater control over our basic needs and even build a cushion for the extras.

We can start by understanding our present financial standing and then make a plan for early retirement. Ask yourself the below questions, and the answers should help you make a detailed plan to turn your dream of early retirement a reality.

Are You Debt-free?

Being debt-free means you have no future payments to account for in your budget. Therefore, ensuring that your debts are cleared has to come first. Your monthly expenses may need to be cut down drastically while you are still working so you can pay off your debts that much faster.

Have You Saved Enough?

Saving money towards retirement from the time you start working may sound a little restrictive. But, it is a sound step towards building enough savings to retire on. It’s an added incentive if you plan to retire early and pursue other interests. Whether you have saved adequately can depend on your financial needs post-retirement. Retiring before social security kicks in could mean that your savings should cover the expenses that would have otherwise been covered through your social security.

Is Your Healthcare Covered?

Healthcare is one of the most significant expenses and can make a deep dent in your savings unexpectedly as many people know since the ACA law went into effect driving up health care costs and limiting choices. Retiring earlier than the age when you become eligible for Medicare means having a backup for health insurance. There are two ways to achieve this. You can either go on your partner’s health insurance plan or get coverage through private health insurance. Starting a Health Savings Account (HSA) earlier would be helpful.

Can You Stick To Your Budget?

Retirees have to live on a fixed income, and it is usually lower than they had when they were employed. So, creating a reduced monthly budget and sticking to it is imperative. You may want to start this plan a few months before you retire to get into the habit. To be safe, have two lists drawn up: one that covers only the basic expenses that you can’t do without, and the other a slightly relaxed budget to include a few you don’t need but would like to have.

Some of us may manage to save substantially with a basic budget bringing the retirement age even closer. Others may desire a slightly relaxed lifestyle and may plan a later retirement. Regardless of the plan, a healthy financial lifestyle is one where you have a budget, and you cultivate the habit of staying within that budget.

Have You Made The Right Investments?

Fixed income post-retirement suggests that you aim to maintain rather than grow your income. This means that you must plan for lower-risk investments. While the returns may be lower, they are also less risky investments. Talking to a financial planner when you are still working and can make a few investments to help you later would be wise.

Do You Have A Plan For Unexpected Expenses?

If nothing else, the COVID-19 or Wuhan virus pandemic has taught us that life is unpredictable. Unexpected expenses may crop up post-retirement. It’s smarter to have a backup plan by either accumulating a few assets that can be sold for better returns or building them into your savings plan. You may still have to prepare yourself for taking up some part-time work that can tide you over.

Key Takeaway

Retirement brings about a profound change in our lives, no matter whether it happens early or late. It would be wise to think beyond financial security and include other retirement aspects such as the free time now that you are not working. Perhaps, a plan to occupy yourself with something you have always wanted to do but never could is in order? Having a backup plan for happy times post-retirement could be a poignant incentive to make you work towards early retirement.

Lifestyle, Money

10 Wealth Creation Principles That Always Work

by Benjamin Roussey|Posted on June 20, 2021 | 3 minute read | Advertiser notice

A lot of people mistakenly assume that true wealth is simply growing your financial net worth. If you think like that, you could not be more wrong. Wealth is a balanced and holistic concept. In this post, we have listed 10 principles that can help you in achieving true wealth in a deeply personal as well as a purely financial sense.

1. Be Deeply Motivated

You cannot sit back and let luck take over when you want to build wealth. Your motivation needs to come from somewhere deeper than regular external trappings. You need to find a cause that will transform your life and drive you to overcome all obstacles which keep you from attaining financial freedom. Internally driven goals can be:

Charity
Freedom
Growth
Leadership

2. Add Value to Whatever You Come Across

Everyone is better off when they add value to the world. Giving more will only help you in the long run. This is an important step in building true wealth. You can greatly improve your life when you help others get better. Exploitation may bring you initial riches, but they won’t provide fulfilment and happiness.

3. Don’t Compromise on Integrity

People think they need to sell their soul to get rich. That’s not true. You don’t need to do things that would prevent you from meeting your father’s eye. You don’t need to harm others, encroach on their property, or violate moral law despite what we may see the FBI doing and all those rioters undermining their own cities. You don’t need to lie, cheat, insult, or damage the environment in your pursuit of wealth – we’ve seen that too much in certain cities in America that many people have moved away from.

You don’t even have to stretch the truth even though we see that all the time in California and New York politics and the White House. Never compromise on your integrity for expediency. There is no amount of money that can replace a clear conscience, a good night’s rest and a peaceful mind.

4. Be Brave and Courageous

You need to have courage to be responsible and a self-starter. You need to be brave to develop new skills and walk new paths. Courage is needed to put extra efforts for standing out from the crowd. In short, you cannot build wealth if you don’t have what it takes.

5. Stay Disciplined

Wealth is an accumulated mass of many small things that are compounded together over a person’s lifetime. Your daily habits play an important role in making and breaking your success. Investing, reinvesting, saving and growing your business and financial intelligence are vital to building wealth. You need to be consistent and persistent in your efforts. You risk falling prey to procrastination without discipline in your life.

6. Don’t Indulge in Conspicuous Consumption

Wealth is not instant gratification. Instead, you become wealthy when you invest your today’s wealth for a more comfortable tomorrow. You should consider living modestly in terms of time, energy, and money. Happiness is not directly related to material trappings. They only keep one from fulfilling their purpose. You have a decision to make every day – consume today or be wealthy tomorrow.

7. Create Supportive Environment

Life has an endless stream of distractions that can sidetrack your plans for building wealth. You can overcome these distractions with focused, persistent and consistent action. The best way to do this is by creating a support system which helps keep you focused on your financial goals.

Your relationships, family environment, financial habits, work environment, and daily rituals should be designed proactively for keeping you interested in creating wealth. They should support and reinforce your plans.

8. Build Wealth by Applying Leverage

You cannot get wealthy on your own. You cannot build wealth by trading time for riches. You need to work smarter instead of harder. These are a few principles of leverage you need to apply:

Marketing Leverage
Network Leverage
Knowledge Leverage
Financial Leverage
Time Leverage
Systems and Technology Leverage

9. Make Your Wealth Work

Wealth is not a one-off standalone concept. It is similar to a business entity. You need to run your money the way you would run a business. Use competitive advantage, accountability, accurate record keeping and leverage to get where you want.

10. You Don’t Possess Wealth

You need to understand that you are a steward to your wealth and not the owner. You would eventually need to move it to others. Money comes with tremendous responsibility. You need to ensure that you create maximum benefit for others who come across the wealth created by you. This can be done using your temporary stewardship wisely.

Finance, Lifestyle

Best Practices to Take Control of Your Personal Finances

by Benjamin Roussey|Posted on June 11, 2021 | 3 minute read | Advertiser notice

You could win the Powerball jackpot and still end up broke simply because you did not manage your money well. You could also be earning a huge salary and find that most of the money’s gone before the month is out, leaving you strapped until the next paycheck (Allen Iverson almost knows about this – as do many others). That’s why it is good to be proactive and take control of your finances instead of asking yourself where the money went.

Here are 10 prudent tips to help you manage your personal finances effectively.

Set up separate bank accounts

You must set up a savings account and a checking account as soon as you land a job. Keeping your salary in these 2 accounts will ensure that you only spend the money from your checking account leaving the savings account intact for future goals.

Save first, spend later

Make sure that you have set up automatic withdrawal and deposit on the same day that you get paid. The deposit might go towards a retirement fund or an emergency fund. Do not miss out on the retirement plans offered by your employer (even the US military has TSP). What is important is to not wait until the end of the month to make that saving. Your spending budget should not take your entire income into account. Automatically moving a percentage of your income first will make sure that you can only access the spending money you have allocated in your budget.

Set up short and long-term financial goals

It is always best to set specific goals, for instance, do you want to buy a property when you reach a certain age? Do you have a clear idea of how much it will cost, even if it cannot be an exact figure as land and property prices can fluctuate? Then, count backwards to calculate the amount you will need to have on hand when that time comes and start saving. It will help to write your goals and the saving plan and place it where you can see it regularly.

Budget

Make a budget and stick to it. This is an important step to take if you wish to be in charge of your finances. When you list down your monthly expenses, you will find that it helps to know the bills that are to be paid routinely and the amount that is left over for saving, investing, or extra spending. This is vital when taxes and costs for goods are increasing because of new policies.

Monitor your spending

Once you know your monthly income and your budgeted amount for monthly bills, you will have a clear picture of how much money you can spend. This requires careful monitoring because it is way too easy to spend money thinking that you can just because you have paid all your bills. This will also help you see if there is an expense you can do without.

Live within your means

It is frugal living that fattens your bank balance. When you understand that you are not deprived of anything by living within your means, you will also realize that it is pretty easy to maintain a lifestyle that takes care of your needs without going overboard.

Set aside money for emergencies

Set aside some of your income each month towards emergencies. If there are no emergencies, you can be happy with the fact that you have saved a lump sum. If there is an emergency, you won’t have to panic and wonder where you will get the money from.

Educate yourself

You would do well to keep abreast of the latest tax laws to make sure that you maximize your savings. Keeping yourself well informed of the stock market and following the financial news will allow you to find safe investment opportunities.

Go for the discounts

There is no shame in looking for discounts and taking advantage of the offers made by retailers. If possible, take a more direct approach and master negotiation skills by working with small businesses. It can be a win-win for the business and you. Buying in bulk could get you a discount just as much as a long term relationship with a vendor. The idea is to avoid wasteful spending.

Take care of your health and property

Health – The body can throw in a lot of surprises along the way. It is best to be self-aware and maintain a healthy lifestyle. Make sure that you schedule regular doctor appointments, including dental care. Eating right and exercising will also keep you away from avoidable health risks.

Property – Regular upkeep and careful handling of the things you own, big and small, can shave a lot of repair costs from your monthly expenses. This is a great habit to cultivate and will also teach you to value what you own.

Regardless of how much money there is to manage, these tips can help you stay on top of your spending and saving, and leave you financially secure.

Finance, Lifestyle

5 Ways to Practice Self-Control With Finances

by James Flores|Posted on May 6, 2021 | 2 minute read | Advertiser notice

Money can provide relief, but it can also be a source of stress. If you find yourself struggling when it comes to practicing financial self-control, here are some helpful tips.

Resist Temptation

Start by cutting yourself off at the source. Yes, we’re talking about fewer trips to the mall and anywhere else you may find yourself at the mercy of impulsive tendencies.

Another effective strategy is to leave home without your debit and credit cards. That way, even if you’ve got your eyes on something, you simply won’t be able to buy it.

Unsubscribe

Once retailers get their hands on your email, they keep those discounts, special offers, and end-of-season sales coming. We know how tough these can be to resist, so do what we did. Simply unsubscribe from those dreaded email lists.

Don’t Save Your Autofill Info

Saving your information after a purchase sounds convenient, but this is actually a marketing strategy. The option to automatically fill out those boxes favors retailers more than it benefits you. When you have to type in your information each time you shop, you may second-guess your purchases. This is the biggest fear retailers have.

We’re pretty sure you can do without that floral scarf; your summer will be perfect without it.

Keep Tabs on How Much You Spend

This tip should really be filed under Financial Self-Control 101. Even someone who’s not actively trying to save will tell you just how important it is to track your expenditures. Maintain a budget sheet; looking at those numbers alone should help curb your spending.

Monthly Deductions

When you get your paycheck each month, immediately set an amount aside as savings. Refer to it as the ‘touch-me-not’ pile. You can even automate this process by setting up a separate bank account for the purpose.

Conclusion

Just like any other habit, financial self-control will become second nature once you start applying these tips. Trust us, it will pay off in the long run…literally and otherwise.

Lifestyle, Money

4 Budgeting Tips You Need to Follow

by James Flores|Posted on April 20, 2021 | 2 minute read | Advertiser notice

Do you hate budgeting because you think it robs you of your freedom to spend your money?

Well, you’re not alone. But it doesn’t mean you’re right.

By making you create a spending plan for the month, budgeting actually ensures that you’ll always have enough money to spend on things you want. It is the best way to stay out of debt or pay off what’s due on you.

Here are some practical budgeting tips to help you get started.

1. Start from Zero

If you want to stay on top of your personal finances, creating a zero-based budget is the way to go. This means you should get a big fat zero when you subtract your expenses from your income. Simply put, you must assign each dollar to something before the month even starts.

Start by calculating your monthly expenses and subtract the amount from your income. If you get a negative value, bring your costs down. You can start a side hustle or sell some items if you need extra money. In case you have a few dollars left, they can go into savings.

2. Set Your Priorities Straight!

No month is the same as the last, which means you’ll have to figure out a spending plan for each month. Some months you’ll be spending on home and car maintenance and other routine expenses, and other months, you may be saving for special occasions or vacations.

When you set priorities for a month, giving and saving should always come first. Then come food, shelter, utilities, clothing, and transportation. Once these categories are sorted, move on to others.

3. Pay Your Debt

One of the most important budgeting tips is to set aside your debt amount first. Pay off what’s due as fast as you can so that you can have complete control over your money.

4. Create a Plan and Stick to It

To eliminate stress from the equation, pick specific dates for your expenses. Follow the plan religiously and track your progress. If you’re afraid of overspending, try the envelope technique and use cash for each category.

Budgeting doesn’t mean you can’t spend as you will. With these budgeting tips, get ready to manage your money in a smarter, more efficient manner!

Finance, Lifestyle, Money

How Long Does It Take To Close On a House?

by Benjamin Roussey|Posted on October 2, 2019 | 6 minute read | Advertiser notice

It is important for homebuyers to know how long it may take to close on a house once their purchase offer is accepted. Except where the deal is all-cash, the buyer’s lender will take some time to process the loan and close.

If you are well-prepared with all the necessary information and documents your lender may require, the closing process could be hastened.

However, chances are that you may still face situations where you have to discuss or negotiate with the other party. Indecisiveness or inaction will only make the closing process longer in these situations.

Average Time Taken for Home Closing

For a new home purchase, according to Fannie Mae, the average closing time is 46 days, while for mortgage finance it is 49 days. A similar time period for closing is also involved in FHA loans.

The closing process is often expedited if the loan has been pre-approved (rather than pre-qualified). If the buyer’s bank statements, employment record, and credit report have already been verified, closing on the property will usually take place within one to two weeks.

Estimated Timeline for Closing

Completing the official loan application – 1 day
Official loan disclosures (and loan estimate) – up to 3 days
Additional document requests and review – 4 to 7 days
Appraisal process – 7 to 14 days
Underwriting – 1 to 3 days
Conditional loan approval – 7 to 14 days
Cleared to close – 3 days
Closing and loan disbursement – 1 day

Factors that can Delay Home Closing

In many cases, delays in closing on a house occur at a stage when the file has been submitted to the underwriters. While an experienced loan officer would be well-versed with underwriting guidelines, it is difficult to predict how an underwriter would respond.

Delays are more frequent with institutional lenders than with mortgage brokers because their procedures may be longer and slower. Here are some of the key issues that could delay or even prevent closing on a home.

Credit Report Issues

If your credit report reveals questionable items, such as a sudden decline in credit score, new debts, errors, or a major late payment reported recently, it could cause a delay in closing.

Lower Appraisal

Lenders usually ask for an appraisal of the home before they finance it. If the property appraisal turns out to be lower than the asking price of the seller, your loan may be refused. You may either have to pay the difference from your pocket or renegotiate your terms with the seller for the loan to be cleared.

Home Inspection Raises Concerns

The home inspection may result in adverse findings, such as faulty wiring or leakage in the bathroom. Repairs will have to be undertaken before the home closing can be done.

Need for Additional Documents

In some cases, the lender may ask for additional documents to explain some doubtful aspects related to your finances. For instance, a document may have a discrepancy about your marital status, or a bank statement may show your maiden name, or some insurance information may be missing.

Problems with the Title

The home sale may be delayed if there are problems with the title, such as lien. Clearing the title may take time and cause a delay in home closing.

Unforeseen Changes with Financial Impact

Right before the closing, any unforeseen life changes with substantive financial impact, such as a divorce or loss or job may also result in a delay.

Inexperienced Loan Professionals

In some cases, both the buyer and the seller may be diligent in accomplishing their role in the process, but the professionals handling your loan may be inefficient.

What can you do to Minimize Delays in Home Closing?

In order to close on your house in a smooth and timely manner, be prepared to respond actively to the requests made by your real estate agent and your lender. While you have no control over how other parties in the value chain perform their role, you can make sure that no delay occurs because of you.

Any time you receive a request for information or documents from the lender, you should be ready to produce it as soon as possible.

Anticipate the requirements and keep ahead of the curve to ensure your home closing process does not drag on like an episode of that 90s show Mad About You.

Don’t move out of your current place of residence until you can actually move into the home you are buying. You don’t want to be sleeping in your car for a few nights or have to get a hotel.

If you are well-prepared with all the necessary information and documents your lender may require, the closing process could be hastened.

Average Time Taken for Home Closing

For a new home purchase, according to Fannie Mae, the average closing time is 46 days, while for mortgage finance it is 49 days. A similar time period for closing is also involved in FHA loans.

Estimated Timeline for Closing

Completing the official loan application – 1 day
Official loan disclosures (and loan estimate) – up to 3 days
Additional document requests and review – 4 to 7 days
Appraisal process – 7 to 14 days
Underwriting – 1 to 3 days
Conditional loan approval – 7 to 14 days
Cleared to close – 3 days
Closing and loan disbursement – 1 day

Factors that can Delay Home Closing

Credit Report Issues

If your credit report reveals questionable items, such as a sudden decline in credit score, new debts, errors, or a major late payment reported recently, it could cause a delay in closing.

Lower Appraisal

Home Inspection Raises Concerns

The home inspection may result in adverse findings, such as faulty wiring or leakage in the bathroom. Repairs will have to be undertaken before the home closing can be done.

Need for Additional Documents

Problems with the Title

The home sale may be delayed if there are problems with the title, such as lien. Clearing the title may take time and cause a delay in home closing.

Unforeseen Changes with Financial Impact

Right before the closing, any unforeseen life changes with substantive financial impact, such as a divorce or loss or job may also result in a delay.

Inexperienced Loan Professionals

In some cases, both the buyer and the seller may be diligent in accomplishing their role in the process, but the professionals handling your loan may be inefficient.

What can you do to Minimize Delays in Home Closing?

Any time you receive a request for information or documents from the lender, you should be ready to produce it as soon as possible.

Anticipate the requirements and keep ahead of the curve to ensure your home closing process does not drag on like an episode of that 90s show Mad About You.

Don’t move out of your current place of residence until you can actually move into the home you are buying. You don’t want to be sleeping in your car for a few nights or have to get a hotel.

Finance, Lifestyle, Money

Is an AARP Membership Worth It?

by John Robinson|Posted on September 3, 2019 | 2 minute read | Advertiser notice

So you just turned 50, and all of a sudden you start seeing online ads for AARP, seeing the magazines everywhere you go, and getting the pamphlets in the mail. I know, you’re just trying to come to terms with the fact that you are now 50 years old, all you need is another reminder that your mid life crisis is sure to start any minute now. Well I’m here to tell you it’s time to embrace your new age with a new attitude. You now get to take advantage of senior citizen discounts all over town, so why not also take a peek at those AARP benefits? Is it worth it? I’ll lay everything out for you now.

How Much Does it Cost?

An AARP membership costs $16 a year. But the more years you pay for in advance, the cheaper it is. See below for the discounted breakdown.

$63 for 5 years — $12.60 per year, with a 21 percent discount
$43 for 3 years — $14.34 per year, with a 10 percent discount
$12 for the first year if you choose to auto-renew — 25 percent discount

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What Discounts are Included?

Members get a variety of discounts at the following popular stores and restaurants.

Retail: Tanger Outlets, 1-800-Flowers.com, Harry & David
Restaurants: McCormick & Schmick’s, Saltgrass, Outback, Bubba Gump Shrimp Co., Denny’s and Rainforest Cafe
Entertainment: Ticketmaster, Regal Cinemas, Cirque du Soleil
Home & Technology: AT&T, UPS Store, Consumer Cellular

What are the Travel Deals?

Rental cars: Members get a discount with several popular rental car companies, as well as a 30 percent discount on Zipcar memberships.
Hotels: Members get up to 20 percent off at several hotel chains, such as Days Inn and Wyndham Hotels and Resorts, as well as up to 35 percent off from Endless Vacation Rentals.
Flights: You’ll get access to the AARP Travel Center Powered by Expedia, which has members-only flight deals, plus you’re entitled to a discount at Park Ride Fly USA for off-airport parking.
Cruises: Members can get discounts on select cruises by Norwegian Cruise Line, Windstar and Grand European Travel.

What are the Health & Wellness Deals?

Exams: Members get a free hearing test once a year, as well as special rates on eye exams and eyeglasses at participating eye doctors.
Insurance: Members get access to exclusive insurance plans through the AARP® Auto & Home Insurance Program from The Hartford.
Medication: Members have access to the AARP® Prescription Discounts provided by OptumRx program and save an average of 61 percent on all FDA-approved medications
Family: Add a spouse or partner to your plan for free so you can both enjoy the benefits
Dating: Members can sign up for the AARP dating site and meet other 50+ singles who are ready to mingle.

This is only a small portion of the discounts and benefits you can get from an AARP membership. You can read the full list of discounts by checking out the AARP Member Benefits Guide.

As you’re nearing retirement, I understand you want to be intentional with how you spend your money. I’ll let you do the math, but if dine out frequently, travel, and want access to health and financial resources to assist in your retirement transition, it might be worth trying AARP for one year to see if you like it. That $16 you spent on the membership will be saved in no time.