The U.S. Securities and Exchange Commission is probing The Change Company, a California lender that pledges to promote homeownership in underserved communities, over its mortgage-backed securities, according to people with direct knowledge of the matter.
As part the investigation, the regulator is also looking into some of the actions of its chief executive officer, Steven Sugarman, said the people, who asked not to be identified discussing the investigation that hasn’t been made public. Buyers of instruments backed by The Change Company’s loans have included some of Wall Street’s largest money managers, according to data compiled by Bloomberg.
“Neither Change nor its leadership is aware of any SEC investigation,” the firm said in a statement. “Loans included in Change’s mortgage-backed securities have been vetted by third-party due diligence firms who have issued certifications attesting to the accuracy of the data and sufficiency of the scope of their reviews,” the company added, in addition to providing an Aug. 24 attestation letter from an outside lawyer.
The SEC, which hasn’t accused anyone of wrongdoing in the matter and whose investigations don’t always lead to enforcement actions, declined to comment.
The week began with a perfectly normal example of a summertime Monday with lighter volume, no major movement, and trading levels remaining well inside the range of the past few sessions. Bonds started fairly flat but improved at the 8:20am CME open (movement surrounding opening bells = another hallmark of lighter summertime trading). Gains continued at a modest pace despite Treasury auctions. Perhaps bonds are having a ceiling feeling as long as this week’s data plays ball?
09:24 AM
Flat to slightly weaker overnight. Friendly bounce at 8:20am CME open. 10yr down 1.1bps at 4.204. MBS up an eighth of a point.
01:31 PM
Flat through the uneventful 5yr Treasury auction. 10yr down 1.7bps at 4.419. MBS up 3 ticks (.09).
03:26 PM
Best levels of the day with MBS up 7 ticks (.22) and 10yr yields down 3.5bps at 4.401.
Download our mobile app to get alerts for MBS Commentary and streaming MBS and Treasury prices.
Rates for a 30-year and 15-year fixed mortgage fell to all-time lows this week as a resurgence in the pandemic caused investors to buy more bonds, including mortgage-backed securities.
The average rate for a 30-year fixed mortgage was 3.03%, down from 3.07% last week. That marks the lowest in a data series that goes back to 1971, Freddie Mac said in a statement Thursday. The average 15-year rate fell to 2.51%, the lowest in almost 30 years of data, according to the mortgage financier.
Mortgage rates fell as investors reacted to news of a record-setting COVID-19 resurgence in some of the nation’s biggest states. The surges erased optimism from last month’s economic reports showing the jobs market recovering quickly from the virus-induced recession.
The low mortgage rates will boost demand for housing, but it’s a delicate balance, said Sam Khater, chief economist of Freddie Mac. Bad economic news pushes mortgage rates down. However, if states are forced to close businesses again and job losses mount, it will eat into the reservoir of people eligible to purchase properties.
“The summer is heating up as record low mortgage rates continue to spur homebuyer demand,” Khater said. “However, it remains to be seen whether the demand will continue if COVID cases rise to the point that it hinders economic growth.”
The resurgence in the pandemic has “already been much worse than we anticipated, and further restrictions will likely be required in some states to bring the virus under control,” the economists led by Goldman Sachs Chief Economist Jan Hatzius said in a report issued on Saturday.
Mortgage rates have fallen as bond investors’ concerns about a surge in forbearances in April and May has subsided. If layoffs spike, those numbers will mount again, said Joel Naroff, president of Naroff Economics.
The beefed-up unemployment provision in the CARES Act, which adds $600 a week to state payouts in an effort to fully replace salaries, is set to expire on July 31.
“If you’re a middle-income household with a job loss, that $600 a week could mean the ability to pay your mortgage and if it goes away it could put pressure on the housing market in terms of either mortgages or rents,” Naroff said.
The Federal Reserve, which rescued the bond markets in March and April by restarting a fixed-asset-buying program used during the 2008 financial crisis, is still purchasing about $4.5 billion of mortgage-backed securities a day, said Walt Schmidt, FTN Financial’s head of mortgage strategy.
“If it weren’t for the Fed, mortgage rates would be a lot higher,” Schmidt said. “The Fed buying MBS is keeping rates low. The Fed can’t control Fannie Mae and Freddie Mac, but it’s controlling what it can.”
The North East of England, with properties priced at 4.9 times average earnings, and Scotland, with houses priced a five times average earnings, have the most affordable homes. Inverclyde – where homes cost 2.9 times average earnings – is recorded as having the most affordable homes of any local authority area, the Halifax said.
Mat Ishbia, chairman and chief executive officer at United Wholesale Mortgage (UWM), provided more than half of the mortgage company’s outstanding shares as a guarantee to secure loans ahead of the acquisition of the Phoenix Suns, according to a Bloomberg report.
According to the report, Ishbia pledged stock he controls to back two loans that were finalized days before his purchase of the Suns was approved. The deal, which values the Suns at $4 billion, first became public in December. The executive received the NBA blessing in February.
In total, 805 million shares, currently worth $4.6 billion, secured two loans with JP Morgan Chase & Co. Ishbia holds his UWM stake via SFS Holding Corp., which owns 94% of UWM’s outstanding stock and pledged the shares, per the firm’s 2023 proxy statements.
“The number of shares of Class A common stock beneficially owned by SFS Corp. also includes a total 805,281,450 shares of Class A common stock which are pledged as security for two separate loan facilities,” the proxy statement states.
The risk of tying up the shares to the loans is that if the value of the stock falls, the bank can usually request additional collateral or for the loan to be repaid. And if the borrower fails to comply, the bank can seize and sell the shares.
The Bloomberg Billionaires Index shows Ishbia’s fortune dropped by $3.4 billion after the pledged shares were removed from his net worth calculation.
UWM and JP Morgan Chase declined to comment on the topic.
The seller of the Suns Legacy Holdings, which owns the Phoenix Suns and Mercury, was Robert Sarver. The executive acquired both teams in 2004. Earlier in 2022, Sarver was fined $10 million and suspended for one year following an NBA investigation regarding workplace conduct.
Ishbia and his brother Justin bought 50% ownership of the franchises, including Sarver’s interest. They also acquired a portion of the interest of minority partners, who were granted additional sale rights. Mat serves as governor and Justin as alternate governor.
Inside: Looking to celebrate Christmas on a budget? This guide has you covered with creative and affordable ways to do just that.
Are you stressed out about how to afford a fabulous Christmas on your budget? Worry not.
This festive season isn’t about how much cash you fork out, it’s about creating lasting memories and spreading joy.
Why let financial woes dampen the joyous yuletide spirit when you can celebrate a charming Christmas on a budget?
Remember, it’s your money, your decisions, and your rules – no guilt trips or social pressures should force you into spending Christmas in debt.
Today you will learn:
Determine your Christmas budget: Figure out what’s a comfortable amount for you to spend and stick to it religiously.
Be creative with gift giving: Homemade presents or heartfelt letters can be more valuable than pricey items.
Find simple ways to save money: Use these money saving tips to enjoy a festive holiday season.
This holiday season, celebrate responsibly, within your means, for a Christmas that’s merry, bright, and totally guilt-free!
Why Celebrate Christmas on a Budget?
Embracing a budget-friendly Christmas can prove to be not only a smart choice but one filled with warmth, delight, and genuine joy.
Enjoy valuable family bonding time with exciting games and shared activities. Volunteer work, a day of holiday baking, or a simple drive-through Christmas lights sightseeing trip can leave a lasting impression. Look through this Christmas bucket list.
Opt for economical, yet thoughtful gifts or stick to fun gift exchange rules, such as the “four gift rule” for your kids. Remember, it’s the sentiment behind the gift that matters the most.
In essence, an economical holiday season needn’t be a dull affair, rather it’s an opportunity to make it more heartfelt and unforgettable.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What to buy for Christmas on a tight budget?
Yes, friend, you can buy meaningful Christmas gifts while sticking to a budget.
In fact, the thought behind a gift is often what makes it special, not the price tag.
A few ideas include homemade gifts, gift cards, subscriptions, and second-hand items. With a little creativity, you can find the perfect present for everyone on your list without spending a fortune.
Below you will find plenty of great gift guides for Christmas that won’t break the bank.
Benefits of a Budget Christmas
1. Allows you to plan ahead and stay on track 2. Prevents overspending 3. Buy gifts that are within your budget 4. Focus on quality over quantity 5. Ensures that everyone gets a gift 6. Helps you avoid debt during the holidays 7. Prevents you from feeling stressed out about money during the holidays 8. Be creative and come up with unique gifts 9. Save for next year’s holiday budget 10. Stay connected to the spirit of the holidays
Savings with Christmas on a Budget
From homemade Christmas decorations to unique gift ideas, it’s possible to create magical moments that’ll last a lifetime without a hefty price tag.
Embrace the true spirit of Christmas – love, family, and togetherness, rather than commercialism, and read on to discover how.
Learn the simple ways to celebrate the festive season without breaking the bank with our creative and budget-friendly Christmas ideas.
1. Think about a No Gift Christmas
Having a No Gift Christmas is a creative and budget-saving alternative to traditional holiday festivities, especially suitable if funds are tight. Why not consider it?
Here are some benefits:
You can alleviate the holiday stress often associated with spending on gifts.
It fosters the idea of Christmas as a season of togetherness, not just gift-giving.
It offers the potential for unique and memorable experiences, like volunteering or creating fun traditions with your loved ones.
Remember, having a memorable Christmas doesn’t have to cost much, or anything at all Learn more about a no gift Christmas.
2. Make Your Own Gifts
DIY Christmas gifts are your perfect solution. They not only save pennies but are laced with your love and creativity.
Start by exploring plenty of creative gift ideas available for free online. Need help? Look for “homemade gifts for Christmas” and you’ll be surprised.
Compile a list of possible gifts from homemade candles to personalized coupon books, keeping the recipient’s likes in mind.
Remember, your efforts will reflect in your gift. So, unleash your creativity and let the magic begin.
3. Borrow Instead of Buy
Borrowing instead of buying is a clever way to have a festive holiday while keeping things budget-friendly. This concept is simple: swap decorations, games, or even gifts with friends, neighbors, or family
Discuss your idea with your circle and organize swapping parties to exchange items.
The key is to creatively engage and make it a fun, budget-conscious activity. After all, Christmas is about sharing and caring!
Remember, return borrowed items in their original condition to maintain trust.
4. Attend Free Events
The Christmas season doesn’t have to be a strain on your wallet. Attending free community events can provide fun and festive celebrations:
To find these events, check your local newspaper or community websites. Be sure to:
Take advantage of free refreshments, but also bring your own to share.
Consider hosting a potluck dinner before or after community events.
Attending free events supports your local community.
Remember, Christmas is about togetherness, not extravagant spending.
5. Make Your Own Decorations
To create a festive atmosphere this season, you could repurpose items around your house or make your own decorations.
Choose a color theme and gather items in those shades, then place them together on a mantel or coffee table to create a coordinated layout.
For a natural touch, clip pine needles, branches, or herbs from your garden, and enhance them with glitter.
Additional budget-friendly options include taking advantage of sales and discounts at thrift stores or crafting handmade decorations such as ribbons from fabric strips or Christmas cookie ornaments.
6. Keep Track of Your Christmas Expenses
Just like throughout the year, budgeting is critical to your financial success.
Nothing changes with Christmas, it is crucial to track and budget your holiday expenses. Jot down every potential cost – from the Christmas tree, and food, to holiday décor.
Be thoughtful about what you really need and opt for items you can use for years.
This is one of the cash envelope categories I recommend saving for. To effectively manage your expenses, assign specific dollar amounts to each item on the list, ensuring you stay within your budget.
Enjoy guilt-free spending and effortless saving with a friendly, flexible method for managing your finances.
Start Your Free Trial.
7. Share the Spirit
Embracing frugality during the holiday season can not only help you save money, but can also create memorable experiences and meaningful connections.
Small gestures, such as sending heartwarming physical letters to loved ones instead of emails, can still convey thoughtfulness and spur the holiday spirit.
By centering your holidays around family activities and endeavors, like homemade ornaments or a scavenger hunt with small gifts, the focus shifts from materialism to fellowship and unity.
Find more frugal Christmas ideas.
8. Check Out Bargain Stores
Bargain stores provide the perfect solution for savvy holiday shoppers looking to save money without compromising on quality or variety. Not only can you find unique, quirky gifts, but you can also keep a lid on your spending while doing so.
Stores like consignment shops or websites such as Craigslist often have high-quality used toys that are nearly new if you’re willing to look carefully.
Another option is to look at discount retailers like TJMaxx as they often host sales during the holiday season, making it even easier for you to save money while hunting for the perfect gifts.
9. Save Money Throughout the Year
Automating your savings for the Christmas season can be a practical and efficient strategy. The 100 envelope challenge is perfect for this!
By setting aside just $50 each month, you could accumulate up to $600 by December, providing a decent budget for your holiday expenses. This method can ease the financial stress during the holiday season, letting you enjoy the festivities without worrying about overspending.
Consider setting up automatic transfers to a high-interest savings account. This ensures your Christmas funds grow without your intervention.
Lastly, try a no-spend month where you only cover essential bills, giving your savings a significant boost.
10. Start a Side Hustle for More Money to Spend
Engaging in side hustles throughout the year can help you significantly cover your holiday expenses.
By delivering food, completing microtasks, selling gently used items, or shoveling snow, you create extra earnings that can go directly into your Christmas fund.
For instance, extra income from a seasonal retail job could help finance gift-purchasing without straining your usual budget.
This strategy not only prevents potential post-holiday debt but also allows you to enjoy the season without financial stress.
In fact, more people are interested in how to make money online for beginners.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
11. Shop Online Instead of Going to the Mall
Shopping online for your Christmas gifts can seriously ease your holiday stress, and potentially save you money.
Let’s explore why skipping the mall and clicking your way to a merry Christmas might be your best bet this year:
No dealing with holiday crowds or cranky shoppers.
Enjoy sales and deals without leaving your home.
Track prices over time to grab the best deals.
Use Rakuten to save even more money on purchases.
For smart online shopping, prepare a list of gifts before diving in. Take advantage of the “wish list” option on platforms to curate items of choice and make sure you first glance over deal sites before making purchases.
12. Have a Christmas Potluck
Host a festive potluck! Invite friends and family, asking each to bring their favorite dish.
Here are some tips for a successful event:
Get organized and ask guests to bring specific types of food. This prevents duplicate dishes and ensures a balanced meal.
Introduce a fun element. Try a cookie swap or a silly game like “Guess the Cookie.”
Keep decor simple. A large vase filled with greenery and baubles can effectively replace a pricey Christmas tree.
Remember simplicity is key in food and decor. Costly ingredients and complicated recipes aren’t prerequisites for a memorable Christmas.
Remember, the holiday is about togetherness, not extravagance!
13. Make Your Own Cookies
There’s a unique pleasure derived from making your own cookies during the holiday season instead of buying them. More so, the cookies you’ve invested your time and creativity into can double as thoughtful, homemade gifts, adding another level of sentiment.
Apart from being a cost-effective option, it brings an opportunity to bond with friends and family during cookie exchange or decorating gatherings.
Making your personally crafted cookies also gives you control over ingredients catering to specific dietary needs or preference
Indeed, making your own cookies adds value that surpasses the mere cost savings, it infuses the holiday season with warmth, joy, and a sense of shared experience.
14. Cross Off Activities from your Christmas Bucket List
Having a joyful Christmas doesn’t necessarily mean overspending. In fact, integrating cost-effective activities into your holiday routine can make the season more meaningful and fun.
This Christmas Bucket list post offers an extensive and diverse list of creative ideas for budget-friendly Christmas shopping, gifting, and celebrating.
Additionally, downloading the free printables and a Christmas Budget Template will make the process even more manageable and fun.
15. Have a No-Gift Party
A no-gift Christmas party is an affordable and fun holiday celebration where attendees do not exchange gifts. It’s a great option for those looking to save money and still enjoy the festive season.
Here are steps to make it happen:
Step 1: Decide on the party type, either a simple gathering or a potluck dinner.
Step 2: Inform guests about the no-gift policy in advance.
Step 3: Organize exciting, cost-effective activities such as a game night.
Step 4: Engage guests with games for a joyful event.
Expert Tip: Conversation and laughter are your best tools.
16. Make a Christmas Memory Book
Creating a Christmas memory book is an affordable and engaging way to celebrate the holiday season, especially when you’re on a tight budget.
To start, you can utilize items already at your disposal in your house such as old photos, greeting cards, and crafts.
Spend some time penning down heartfelt messages and your favorite holiday memories associated with each picture or craft. Embellish the pages with affordable decorating materials like glitter, stickers, or color pens.
Not only does this create a personalized touch, but it also serves as a nostalgic keepsake that can be cherished for years to come.
Tip: Digitize your memory book by creating an electronic version. This can also help preserve the original items.
17. Spend Time With Loved Ones
Celebrating Christmas on a budget doesn’t mean skipping on the fun.
It’s about cherishing time spent with loved ones, harnessing creativity, and making priceless memories that last a lifetime.
Here are some cost-effective activities you can embrace this festive season:
Share stories of memorable Christmas experiences.
Organize virtual celebrations with extended family and friends.
Create your own family-themed board game.
Bake Christmas cookies or make a popcorn Christmas tree.
Stream a Christmas church service.
If snow is around, engage in snow play.
Dance to classic Christmas music.
Put together an annual family calendar.
Participate in one of these Christmas Challenges!
Remember, it’s not about what’s under the tree that matters, but rather, who’s around it.
18. Stash Christmas presents all year
Do what I do! Begin addressing the issue of holiday budgeting by stashing Christmas presents all year round.
This is a smart and stress-reducing move!
Find deals throughout the year rather than spending lavishly in December. Hang on to items like discounted gifts in your secret gift closet!
As you build an inventory of diverse items, you will be ready for birthdays or sudden party invites – you’re always prepared!
Just be careful to stop shopping when your list is fulfilled to avoid overspending.
19. Write a Christmas Gift List
Creating a Christmas gift list can be an effective way to manage your holiday spending. This helps you understand the overall picture of your holiday expenditure.
Start by writing down the names of every person for whom you consider buying a gift.
Then, determine how much you’re willing and able to spend on each individual. This helps you understand the overall picture of your holiday expenditure.
Take time to brainstorm potential gift ideas within your decided budget for each person. This process can be even easier and more informative if you’re able to reference a gift list from previous years.
Ultimately, the goal is to ensure that your total intended spending is reasonable and manageable for your personal financial situation.
Remember, you may not need to buy gifts for everyone on your list – some individuals might appreciate homemade or free gifts just as much.
20. Choose Great holiday things to do for less
Set aside the societal notion of linking the joy of holidays to copious spending, and welcome small, inexpensive, yet heartfelt gestures.
Adopting a mindset that finds value in low-cost or even free activities, especially during the holiday season, can not only alleviate financial pressure but also create cherished memories.
Instead of focusing on extravagance and materialistic desires, turning attention to experiences and emotional bonding can revolutionize the celebration!
You can always find things to do on Christmas Day.
21. Think Outside the Box With Gifts
Finding affordable gifts doesn’t mean you have to sacrifice quality or thoughtfulness.
By utilizing a gift guide such as the 4 gift rule – something they want, need, to wear, or read – you can ensure a well-rounded and meaningful set of gifts for each child.
Alternately, consulting lists of inexpensive yet creative suggestions like those curated by Money Bliss can help you find unique presents that won’t break the bank. These affordable finds range from books, gadgets, to personal care items, and home accessories.
Regardless of budget, the key to successful gift-giving lies in understanding the recipient’s needs and interests.
22. Consider Re-Gifting
Re-gifting is a practical, budget-friendly, and environmentally-friendly way to celebrate Christmas. It allows unused or unwanted items another chance to be appreciated and might save you some cash too.
Here are some regifting tips:
Ensure the gift is in good condition, unwanted but quality, and not linked back to its original giver.
Consider the preferences of the new recipient, ensuring the gift suits them.
Completely re-wrap the gift to give it a fresh appearance.
Some may debate the etiquette of re-gifting but remember, it’s more about the thought and less about where the gift originated.
Making smart choices can ensure a successful and fun re-gifting experience this festive season.
23. Use Gift Cards or Cash App to Stay on Budget
Purchase a prepaid gift card from your favorite store to ensure you’re limiting your spending to a specific amount and preventing the temptation of overspending.
If you’re planning to shop from a range of places, opt for a Mastercard of Visa prepaid card. While there may be an activation fee, it’s ultimately going to be less than what you’d potentially overspend.
Another great option is using the Cash App card and learn where you can load your Cash App card.
Also, you can use budget tracker apps like YNAB or Simplifi. These can help you meticulously keep track of your spending and stay within your budget.
Remember, the key is to stick to a budget and avoid falling prey to impulsive purchases. Using gift cards or these budgeting apps makes it easier to limit and monitor your expenses.
24. Use Money Gift Ideas Wisely
Money gift ideas can be an excellent alternative to traditional presents, especially when budgeting is a critical aspect.
Too many times, money gift ideas are overlooked as impersonal, but a money gift box or money cake will definitely surprise the recipient.
This will guarantee you will stay within your target budget by using money gift ideas.
For larger families, a gift exchange with a set price limit can keep costs manageable.
25. Donate to Charity Or Volunteer
Volunteering at a charity is a meaningful way to give back during the holiday season that doesn’t put a strain on your budget.
Instead of buying more items a person may not need, you’re investing time, money, and energy in causes they care about. Although this doesn’t require a financial commitment, it’s a generous gift full of sentiments.
Furthermore, donating money to a charity in someone’s name is a thoughtful and effective way to honor someone who already has everything they need. It allows the recipient to feel the joy of giving, yet remains a budget-friendly option for the giver.
If you’re keen on frugal yet meaningful ways to celebrate Christmas, how about considering charitable donations? It’s a splendid alternative to traditional gift-giving – not hard on your wallet, plus it makes a difference!
Most people know it is hard enough to buy gifts for the woman you who has everything or kids who have everything.
How to Make a Christmas Budget
A lot of joy and goodwill is associated with the holiday season; however, it also brings with it the challenge of managing finances meticulously to avoid slipping deep into credit card debt.
One of the effective ways to keep your finances under control during this festive time is by creating an efficient Christmas budget.
In the following sections, we will delve in detail into the simple process of creating a feasible Christmas budget that you can adhere to.
Step 1: Decide What You Want to Spend on Christmas
Determining how much to spend at Christmas depends on your individual budget and financial situation.
On a general basis, most people will overspend at Christmas in order they don’t look broke or not generous.
However, that thought process is backward if you are trying to reach your financial goals. You need to decide on how much you want to spend at Christmas time.
That is why these consumable gifts tend to be popular.
Expert Tip: Avoid surpassing your Christmas budget to prevent feeling the pinch of holiday debt later on. Stick to your allocations and plan things out in advance.
Step 2: Make a List of Christmas Gifts
Creating a list is essential for budget-friendly and stress-free Christmas shopping.
This prevents you from forgetting someone important by intuitively documenting all the people you intend to get gifts for. Also, allows for the clear allocation of your total Christmas budget, preventing overspending on some individuals and under-spending on others.
If you aim to economize, consider the 4-gift rule: something they want, something they need, something to wear, and something to read. This method provides thoughtful gifts for children while maintaining a manageable budget.
More importantly, a well-planned list significantly reduces the time spent shopping and aids in buying gifts early before the holiday rush begins.
Expert Tip: Don’t forget to consider items like stocking stuffers, last-minute gifts, or teacher’s gifts, and the cost of extra food for holiday gatherings.
Step 3: Prioritize Your Spending
Prioritizing where to spend money relative to your financial goals is crucial to achieving long-term financial stability and health. It ensures that your money is allocated effectively, giving priority to necessities and matters that directly support your objectives.
This practice can also prevent unnecessary expenditures and helps in averting serious overspending, especially during high-spending periods like the Christmas season.
Thus, you will need to prioritize your Christmas budget before the festive season. It helps prevent overspending and keeps you debt-free.
Step 4: Limit Your Christmas Spending
First, it is important to abandon the notion of a “perfect Christmas” and focus on enjoying the holiday within your budget.
You can even educate your family members about the concept of holiday budgeting and involve them in your planning process.
Consider proposing less expensive alternatives to traditional gift-giving within your extended family such as handmade or recycled gifts, or conducting a white elephant exchange with budget-friendly novelty items.
Don’t overlook smaller gifting costs that can accumulate, like Christmas stockings – instead fill them with practical, affordable items that your family needs.
Save money on wrapping supplies by using items readily available at home like newspaper or butcher paper and involve the kids in a fun, cost-saving activity by having them create homemade gift tags.
Remember, sticking to your budget doesn’t mean letting go of the Christmas spirit. It’s about celebrating responsibly and starting the New Year without financial stress.
Step 5: Ignore Sales and Keep it Simple
Sales, sales, sales – the deal is too good to pass up!
Here are key ways to overcome this common dilemma.
Resist impulsive purchases compelled by sales, and stick strictly to your shopping list.
Pause before purchasing an item not on your list, consider the necessity.
Keep emotions in check, they run our shopping decisions.
Conquer emotional spending, stay true to your budget.
Discourage additional spending once your list is fulfilled and the budget exhausted.
Remember that it’s better to focus on affordable presents rather than seeking the perfect, but expensive, gift.
Step 6: Shop for Christmas Gifts Early
Start early. Begin watching for sales on items from your Christmas gift list way before the season’s rush.
Begin monitoring for sales early, especially during holidays that precede Christmas, to stretch your budget further.
Make use of Black Friday and Cyber Monday. They provide excellent opportunities to snag deals on your gifts.
Expert Tip: Remember to stick to your list. If it isn’t on your list, pass it up. It’s challenging but keeps your budget in check.
Step 7: Reuse and Recycle Holiday Decorations
Start by taking stock of items in your house. Don’t limit yourself to traditional decorations—choose a color theme and scan your home for items that fit and can be repurposed.
Use the resources outdoors. Pine branches, pine cones, mistletoe, and holly can be fashioned into decorations from nature’s catalog.
Even consider trading decorations with friends or family. This can bring a new look to your home without the need for new purchases.
Get creative with items from dollar stores that can be combined to appear high-end and save costs.
How to buy gifts for Christmas on a budget?
Maintaining a budget doesn’t mean you can’t enjoy giving gifts this Christmas.
Use these gift guides to help you out:
Remember, the joy is in the giving, not in the cost of the gift.
Time to Create Your Holiday Budget and Make it Memorable
Regardless of your financial situation and the extent of your holiday plans, this guide will help you maintain financial stability while fully embracing the Christmas spirit.
By setting aside a prescribed sum for your holiday expenses, you’re able to enjoy the season without the stress of unexpected expenditures or financial shocks after the holiday haze has cleared.
Celebrating Christmas on a budget doesn’t mean skipping the fun or the warmth.
With just a dash of creativity and thoughtful planning, you can make the yuletide season enjoyable and meaningful without breaking the bank.
Use the festive tips provided and start planning your budget-friendly Christmas now. Remember, the true essence of Christmas isn’t in extravagant spending—it’s about love, joy, and spending quality time with those who really matter to you.
Don’t forget to access a free printable worksheet for your customized holiday budget.
Know someone else that needs this, too? Then, please share!!
The Social Security Administration (SSA) considers depression to be a disability as defined under the American Disabilities Act (ADA)
. You may qualify for SSDI benefits and work accommodations if depression prevents you from either doing the type of work that you previously did or adjusting to other work.
Here’s what to know about what kinds of depression qualify for SSDI benefits and work accommodations and how to apply.
Work accommodations for depression
Under the ADA, you have the right to reasonable accommodations to help you do your job
. Some examples of possible accommodations include:
Altered break and work schedules.
Specific shift assignments.
Quiet office space or changes to create a quiet work environment, such as noise-canceling headphones, room dividers and soundproofing.
Changes in supervisory methods.
Permission to work from home.
It’s illegal for your employer to fire you due to a mental health condition, but make sure to ask for accommodations as soon as possible before your job performance suffers.
SSDI benefits for depression
The SSA pays disability benefits to people with qualifying conditions to replace the income they are unable to earn.
The amount of money that you will receive each month is based on your previous earnings and how much you’ve paid toward Social Security taxes.
Disabled workers receive an average monthly benefit of $1,483, according to a March 2023 report from the Center on Budget and Policy Priorities
.
The maximum SSDI payment that someone can earn in 2023 is $3,627 a month.
What type of depression qualifies for disability?
Depressive, bipolar and related disorders are on the SSA’s Listing of Impairments and are considered disabilities that can prevent substantial gainful employment. In other words, if your depression is severe enough that it prevents you from working and operating at your full capacity, then there is a reasonable chance that Social Security will consider it to be a disability. Here are the standards to qualify:
Medical documentation of five or more of the following symptoms:
Depressed mood.
Diminished interest in almost all activities.
Appetite disturbance with change in weight.
Sleep disturbance.
Observable agitation or retardation.
Decreased energy.
Feelings of guilt or worthlessness.
Difficulty concentrating or thinking.
Thoughts of death or suicide.
Also, extreme limitations in one of the following areas of mental functioning:
Understanding, remembering or applying information.
Interacting with others.
Concentrating, persisting or maintaining pace.
Adapting or managing yourself.
Or proof that your depression is “serious and persistent,” which the SSA considers as lasting for at least two years. You’ll also need evidence of the following:
Medical treatment that is ongoing and helps reduce the symptoms.
A limited ability to adapt to changes in your environment or additional demands.
You’ll also need to have earned enough “work credits” to be considered insured for SSDI benefits. This typically means that you worked for at least five out of the last 10 years, though younger workers can qualify with fewer credits.
How to apply for SSDI
You can apply for SSDI online, through your local Social Security office or by phone.
You’ll need to gather information on your medical and work histories.
After filing your application, you have the right to be informed of the SSA’s decision and the right to appeal that decision within 60 days. It normally takes around six months to receive an initial decision from the SSA.
How likely is it that the SSA will approve my SSDI application?
An average of 21% of applicants are awarded SSDI benefits with their initial application
. After appeals, an average of 31% of applicants are awarded benefits.
Frequently asked questions
How much does it cost to hire a Social Security disability attorney?
If your SSDI application is approved, then your disability attorney will be paid 25% or $7,200 of your retroactive benefits, whichever amount is less.
Is there a waiting period for disability benefits?
There is a five-month waiting period for Social Security disability benefits, meaning you’ll receive your first benefit in the sixth full month after the date that SSA finds your disability began. If you were previously disabled within the last five years, the waiting period is waived.
Can you work at all if you are receiving disability benefits?
You are allowed to return to work while receiving SSDI benefits. Social Security has special rules and several programs that allow recipients to work and still receive benefits, including the Ticket to Work program and a nine-month Trial Work Period.
An oasis of sandy beaches, nature preserves and restaurants with stunning views, Key Biscayne offers all the allure of South Florida on a tiny sliver of land.
Just minutes from downtown Miami, Key Biscayne feels a world away from the city’s bustle and South Beach’s party vibe. The tiny island is home to 2 state parks, as well as quiet, palm-tree-fringed beaches, bike paths, and high-end accommodations (including the sprawling Ritz-Carlton on Key Biscayne).
The homes that line Key Biscayne’s streets are just as impressive as the natural beauty that surrounds them.
And one in particular — which hit the market just a couple of weeks back — embodies the ‘Island Paradise’ vibe of Key Biscayne to perfection.
Photo credit: Virtuals 1 courtesy of Coldwell Banker Realty
The $20 million Mariner Dr. property was custom-built built in 2013 by world renowned architect Cesar Molina of CMA Design Studio, known for his signature “tropical modern’ designs.
Photo credit: Virtuals 1 courtesy of Coldwell Banker Realty
Molina combines the clean lines and muted color palette of contemporary design with the warm, natural materials of exotic woods and stones typically found in island environments, and incorporates wellness and resort-like amenities into his projects.
The Key Biscayne house on Mariner Dr. is no exception, featuring beautiful natural stone and wood throughout, and incorporating the perfect amenities to make residents feel like they’re living in their own private resort.
Photo credit: Virtuals 1 courtesy of Coldwell Banker RealtyPhoto credit: Virtuals 1 courtesy of Coldwell Banker RealtyPhoto credit: Virtuals 1 courtesy of Coldwell Banker RealtyPhoto credit: Virtuals 1 courtesy of Coldwell Banker RealtyPhoto credit: Virtuals 1 courtesy of Coldwell Banker RealtyPhoto credit: Virtuals 1 courtesy of Coldwell Banker RealtyPhoto credit: Virtuals 1 courtesy of Coldwell Banker Realty
The waterfront home sits on a canal with ocean access, and offers resort-style living at its finest — including 9 covered balconies, 4 covered terraces, and infinity lap pool, and even a private yacht dock behind the house.
With a generous 5,760 square feet of elegant living space, including a two-story living room, 5 bedrooms, 6 full baths and 1 half bath, the Key Biscayne house was fully refreshed and rejuvenated in 2022 with many upgrades and luxury finishes.
Photo credit: Virtuals 1 courtesy of Coldwell Banker RealtyPhoto credit: Virtuals 1 courtesy of Coldwell Banker RealtyPhoto credit: Virtuals 1 courtesy of Coldwell Banker Realty
It’s now being offered for sale with a $20 million price tag. Carmen D’Ambrosio with Coldwell Banker Realty, Key Biscayne holds the listing.
And we wouldn’t be at all surprised if a celebrity moves in. The area is quite popular among A-listers, who’ve been flocking to South Florida in recent years.
Rapper Rick Ross recently splurged $37 million for a waterfront home in the nearby Star Island, and rumor has it that soccer superstar Lionel Messi is also looking at Key Biscayne as a place to settle down following his move to Miami.
Messi is no stranger to Key Biscayne. Just a couple of years back, he rented a 5-bedroom waterfront mansion here, the former Matheson estate, known as the Mashta House — the most expensive house in Key Biscayne, which last sold for $47 million. Let’s hope the $20 million Mariner Dr. house is on his radar!
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Collaboration within the industry has proven valuable in these circumstances. “Networking with real estate agents, appraisers, and other professionals in the field enhances our ability to serve clients comprehensively,” added Thompson. As the mortgage landscape continues to evolve, staying interconnected allows brokers to stay ahead of the curve and better assist clients. Scott Morgan, a … [Read more…]
Banks less readily provide loans for such purposes, EISA says.
According to the explanation letter concerning the endowment capital increase bill, a housing loan guarantee is intended for people who want to either take out a loan to buy a new house or to reconstruct an existing one, yet want to reduce their down payment obligation, with rural areas a particular focus.
There are five different target groups: Young families, young professionals, buyers of energy-efficient housing or energy-efficient housing reconstruction, families with children, and Estonian Defense Forces (EDF) or Defense League (Kaitseliit) veterans.
The explanatory letter states that: “The guarantee for the target group of buyers or renovators of housing in rural areas is intended for people who want to take out a loan for the purchase of a new housing or for the reconstruction of an existing one, making it possible to obtain a larger loan from the bank than the value of the property allows and the bank would be willing to give under normal conditions.”
“According to the forecast, it is necessary to increase the endowment capital from 2024, when the endowment capital will no longer be sufficient to finance the rapid growth in portfolio. In total, an increase in the endowment capital of €11 million is required,” the communique went on.
Behind this rapid growth in portfolio is an increase in grants for the reconstruction of apartment buildings, which EISA also offers.
The institution predicts the growth of the housing association’s loan guarantee portfolio from €49 million in 2022 to €134 million euros in 2028, i.e. nearly a threefold rise in six years (forecast).
In terms of categories of recipients, a person up to 35 years of age with a higher education, secondary specialized education or vocational education, with whom an employment contract, service contract or board member contract has been concluded, constitutes a young specialist.
An additional condition is that a loan applicant must not be on probation in relation to a court judgment.
The explanatory letter also stated the proportion of self-financing as a condition of the guarantee, which must be at least 10 percent of the value of the collateral for the loan.
For families with children the proportion for self-finance is set at at least 5 percent of the value of the collateral for the loan.
A family with children consists of parents raising at least three children up to 19 years old (inclusive) jointly or separately, or are guardians of the children.
Two people can jointly apply for a loan, at least one of whom must belong to the stated target groups.
The housing to be purchased or reconstructed must be located outside the list of locations prepared by EISA.
The excluded list is: Larger settlements in Harju County and all municipalities adjacent to Tallinn, with the exception of Ardu, Habaja, Loksa, Rummu and Ämari; all cities and townships in Tartu County, with the exception of Alatskivi, Kallaste, Rannu and Rõngu, and also the towns of Haapsalu, lääne County, Kohila, Rapla County, Kuressaare, Saaremaa, Paikuse municipality, in Pärnu County, the City of Pärnu, Rakvere, Lääne-Viru County, Rapla, Rapla County, Sauga, Pärnu County and Viljandi, Viljandi County.
The amount of the guarantee must be up to 80 percent of the unreturned main component of the credit, but at the same time cannot exceed €80,000.
Additionally, the value of the property to be purchased or reconstructed must be covered by at least 25 percent of the loan.
Furthermore, a property may not be let out during the validity period of the loan agreement.
The existing EISA endowment capital has been used so far to provide the guarantee service for home loans in rural areas.
The explanatory letter states that the endowment capital boost is budget-neutral, since it is a financing transaction.
EISA was formed from the merger of the formerly separate KredEx and Enterprise Estonia organizations.
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