Dasha Kennedy, financial coach and founder of the 80,000-member Facebook group The Broke Black Girl, is no stranger to struggle. She said she didn’t have the luxury of receiving a quality financial education at a young age, nor did she come from a wealthy background. She taught herself everything she knows about money management.
“My journey involved a lot of trial and error,” said Kennedy, a St. Louis native now residing in Atlanta, in an email interview. “I had to deal with financial mistakes, learn from them, and find ways to build a stable financial future from scratch.”
A mother of two boys, Kennedy has made it a priority to break the generations-long chain of financial trauma. Having early, honest conversations about money management with her children is just one way she aims to do that.
How to start building wealth from scratch
Kennedy said some people from underrepresented communities face systemic barriers, such as limited access to financial education, fewer wealth-building opportunities, and discrimination in lending and employment.
“Many people in these communities grow up without learning basic financial skills, making it harder to manage money effectively,” Kennedy said. “These challenges mean that financial education and resources need to be tailored to address these specific barriers.”
If you want to build wealth, Kennedy said, begin with the basics — educating yourself. She recommends free online courses or workshops about personal finance.
Another essential step in the wealth-building process is understanding your current financial situation, she said. Know what you spend money on, what your budget is, and where you can find room to save even a small amount.
When considering investing for the first time, Kennedy said, start where you are. You don’t need extensive knowledge to invest, or a lot of money — a little bit can go a long way for future you, she said.
“For many people, saving can bring up feelings of anger, frustration, or fear because it highlights past financial struggles or insecurities,” she said. “I encourage people to see saving as a form of self-care and empowerment; changing the narrative from deprivation to investment in their future.”
Generational wealth can look different for everyone
Kennedy said having candid conversations about money is one way to create new norms. Something as simple as looping your kids in on a discussion about the family budget can make an impact.
“Be open and honest with your children about money. Share your financial experiences, both the successes and the mistakes,” she said. “Make these conversations a regular part of your family’s routine so that talking about money becomes normal and not something to be feared or avoided.”
To further set her children up for future financial success, Kennedy teaches them the importance of saving and budgeting by giving them allowances to manage. She guides them in achieving their goals, while stressing the importance of hard work and education in financial success.
For Kennedy, generational wealth isn’t just one person in a family having money; it requires an all-hands-on-deck approach.
It’s not just about money or assets, Kennedy said. Generational wealth can look like helping a family member build their resume or watching their kids while they attend a job interview, she said.
“Generational wealth involves generational support,” she said. “It’s guaranteeing that my children, and their children, have financial stability, access to education, and opportunities to pursue their dreams without the same financial struggles I faced.”
Market analysts attribute the decline in mortgage rates to a recent inflation report showing a drop in the year-over-year core consumer price index, its lowest level in over three years. “Mortgage rates fell for the third straight week following signs of cooling inflation and market expectations of a future Fed rate cut,” Freddie Mac chief … [Read more…]
Important Risk Information for Securities Based Lending: You need to understand that: (1) Sufficient collateral must be maintained to support your loan(s) and to take future advances; (2) You may have to deposit additional cash or eligible securities on short notice; (3) Some or all of your securities may be sold without prior notice in order to maintain account equity at required maintenance levels. You will not be entitled to choose the securities that will be sold. These actions may interrupt your long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as “Morgan Stanley”) reserves the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase your collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
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Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
At Our Place, co-founder Shiza Shahid’s mission is to make sure everyone has a seat at the table, especially at mealtime. The brand honors those of multicultural backgrounds with cookware and utensils that bring heirloom recipes to life at the table. This ceramic set will help you do just that, with essentials like serving platters and bowls and mini bowls for sauces and sides.
For Lighting
Afternoon Light
Now 10% Off
Before launching Afternoon Light, Deirdre Maloney and Minya Quirk worked as business partners for nearly two decades in fashion. They turned to home decor as a way to streamline shopping for “hard-to-find great stuff.” You can find items like this Knit-Wit High Floor Lamp by Iskos Berlin, which is featured in their Made by Hand series.
For Joanna Gaines Fans
Magnolia
Now 20% Off
Joanna Gaines fans need no introduction to Magnolia. The co-founder, alongside her husband Chip Gaines, created the brand over 20 years ago as a mantra that symbolizes home as their favorite place to be. Today, she curates the likes of furniture, rugs, art, and decor in their collection to help accent every area of your house. The intricate, gilded gold design on this mirror will add an elegant touch to your interiors.
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For Bucolic Style Lovers
Sweet July
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For Ayesha Curry, the month of July holds a special place in her heart, so she named her home and lifestyle company Sweet July. (She was married on July 2011 and had her children on the same month in the years following!) Available in stunning earth tones, these linen throw pillows offer subtle rustic appeal so take your pick while shopping them.
For a Coastal Aesthetic
Serena & Lily
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Founded two decades ago by textile designer Serena Dugan and former tech company executive Lily Kanter, Serena & Lily was born out of their desire to build home with character. Within the company’s collection, you’ll find nods to California style (aka: coastal and casual home design), like this seaside-inspired outdoor bistro set.
For Art Lovers
54kibo
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Founder Nana Quagraine is a native of Ghana and South Africa, and she channels both locales through her love of design. After noticing the lack of access to African design on a global scale, she launched the 54kibo marketplace with a mission to spread the creativity of Africa and its diaspora to the world. This adjustable wall mirror is inspired by a traditional Ndebele necklace.
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For Self-Care
Parachute Home
Parachute Home founder Ariel Kaye saw a hole in the market for quality and accessible bedding. Using her advertising and brand development career expertise, Kaye launched her own ethical, direct-to-consumer company with that exact ethos in mind. Also known for its loungewear, the brand’s best-selling robe is made with 100 percent long-staple Turkish cotton for a soft, relaxed fit.
For Minimalists
Johanna Howard x Burrow
Johanna Howard has been designing ever since she watched her mom create handmade dresses at her atelier while growing up in Sweden. After fine-tuning her creative eye in her career, Howard began creating home decor pieces inspired by Scandinavian design. In partnership with Burrow, Howard designed this classic ottoman tray with a lip to seamlessly keep decor, charcuterie, or anything else organized.
For Vibrant Accessories
Brother Vellies
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Brother Vellies founder Aurora James is also the founder of the 15 Percent Pledge, a nonprofit that calls on big-name retailers to allocate 15 percent of their shelf space to Black-owned businesses. Her luxury home and fashion brand include handmade goodies like this statement checkerboard dish you’ll want to keep on display.
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For Plant Parents
Palette Pots
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Latrice Thompson’s mission is simple: To make the plant industry more sustainable and colorful with her Palette Pots brand. Inspired by a coffee mug, this functional planter has a beautiful glossy finish and a drainage hole for small plants.
For Green Thumbs
The Sill
Eliza Blank founded The Sill back in 2012 after combining her love of gardening from her family’s Filipino roots with the need to refresh her own apartment. While the brand has a wide offering of healthy plants to shop, they also sell creative decor for greenery. The Landscape Growframe doubles as art and a planter with its sleek, mountable design and built-in grow lights.
For Abstract Pieces
Vivee Home
Vivee Home co-founders Katya Warm and Meryl Ware create fine and modern art-driven home decor that’s both stunning and sustainable. They utilized their backgrounds in art and marketing to launch the brand and channel their joy for life (vivee translates “to live”) in their collections. Plus, five percent of Vivee Home’s profits go to The Art Therapy Project.
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For Stylish Pet Parents
Approved by Fritz
After adopting her dog, Fritz, in 2021, Danielle Heeren combined her love for canines and design to launch a dog- and planet-friendly lifestyle brand. Her Approved by Fritz collection includes sustainable, modern home goods that can seamlessly fit in your space, like this fully recycled dog bed.
For Luxurious Lounging
Yellow Leaf Hammocks
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Yellow Leaf Hammocks’s co-founder Rachel Connors pitched her brand alongside husband Joe Demin on Shark Tank in 2020. With their million-dollar deal, they launched the brand with the help of craftswomen of the Mlabri Tribe in Northern Thailand, also known as “the people of the yellow leaves.” The co-founders’ Hammock Throne is one of the most luxurious hammocks you can buy, thanks to its 360-degree swivel design and “extremely comfortable” and “customizable” qualities.
For Harlem Residents
Harlem Candle Company
Teri Johnson founded her candle brand, the Harlem Candle Company, to pay homage to the Harlem Renaissance and the iconic figures of the ’20s and ’30s who defined the era. This iteration is inspired by entertainer Josephine Baker, also known as the bronze goddess of the Harlem Renaissance, with its sensual blend of rose, jasmine, warm amber, tonka bean, and sandalwood notes.
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For Modern Furniture
Lulu and Georgia
For founder Sara Sugarman, home decor has always been a family business, thanks to loved ones who worked in hotel, residence, and interior design industries. When building Lulu and Georgia, she kept community and family in the brand’s DNA, even down to naming her company after her grandfather, Lou, and her father, George. This Harlowe swivel chair’s sculpted arm rests give it a modern, cozy feel designed for a corner nook or family room.
For Tea Lovers
The Qi
Translating to “life energy,” Lisa Li’s brand The Qi is rooted in providing energy to all its customers via sensory-based teas. In addition to offering flowering herbs, which helped the founder recover from work burnout, her collection includes heat-resistant glass cups and saucers to help you see your beverage in full bloom.
For Backyard Barbecues
Crow Canyon Home
Founded in 1977 and owned by Cara Barde, Crow Canyon Home is known as an originator of splatter enamelware. The brand offers kitchenware like this durable tray that’s safe to use on the stovetop, grill, and in the oven.
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For Cocktail Parties
Material
Material CEO Eunice Byun and co-founder David Nguyen create stylish and functional kitchen tools like prepware and cookware to help unite people over cooking and sharing a meal. She partnered with Death & Co. to create this cool pitcher with a wavy handle that’s easy to stir and pour.
For Eclectic Home Decorators
Annie Selke
Founder Annie Selke’s self-titled home decor brand started with rugs, thanks to her love of textiles. It has since expanded to feature everything from colorful and coastal to bohemian and modern furniture and decor. This jute rug will bring a textural element to your home with its all-natural, braided top-weave design.
WASHINGTON — The Senate Banking Committee will consider the nomination of Christy Goldsmith Romero to chair the Federal Deposit Insurance Corp. on July 11, the panel announced.
Goldsmith Romero, who currently sits on the board of the Commodity Futures Trading Commission, was just recently announced as the Biden administration’s pick to lead the FDIC in the wake of a workplace misbehavior scandal at the agency.
The committee, in the same hearing, will also consider the nominations of Caroline Crenshaw to be a member of the Securities and Exchange Commission, Kristin Johnson to be assistant secretary of financial institutions at the Treasury Department and Gordon Ito to be a member of the Financial Stability Oversight Council with expertise in insurance.
The Senate Banking Committee hearing marks the first official step in the process to confirming Goldsmith Romero’s nomination — a race against the clock at this point with a limited number of legislative days left in Congress. Goldsmith Romero would replace current FDIC Chairman Martin Gruenberg, who announced he would resign upon the confirmation of a successor.
Should the nominations pass the Senate Banking Committee, they will go to the full Senate.
While Goldsmith Romero hasn’t triggered any pushback so far from Republicans, the confirmation of her nomination is still far from guaranteed.
Democrats have enough votes to usher her and the other nominations through the Senate, but only if they remain united in their support — including among those seeking reelection in vulnerable seats in the 2024 elections. Republicans have been unusually successful in sinking the nominations of the Biden administration’s financial regulatory nominees in the past, pulling Democratic support, for example, from picks like Sarah Bloom Raskin and Saule Omarova.
Should she make it through the confirmation process, Goldsmith Romero would inherit an FDIC that not only is still reeling from the public revelation about the agency’s culture, but that has a busy regulatory schedule.
On Thursday — in what could very well be Gruenberg’s final board meeting as chairman — the agency finalized a rule bolstering resolution plans for large regional banks. Other key rulemakings, like the Basel III endgame proposal, are still pending.
Goldsmith Romero potentially would have only a limited number of months with a Democratic board. Should Donald Trump win the presidential election, Goldsmith Romero would not necessarily have to step down as chairman, but would be up against a 3-2 partisan split that would make governing the agency difficult.
Inside: Here are fun things to do with no money. You don’t have to spend money to enjoy yourself! Plus you save money!
Having fun doesn’t have to cost a fortune! You can have a good time without spending a dime.
But, that is the trap, we find ourselves in. We believe that in order to have fun, you must spend money.
However, we are going to debunk that myth.
It is possible to have fun without spending money. This is something my family does ALL-THE-TIME. There are plenty of places to go when you have no money. There is so much available in our society to explore that you never get bored or run out of ideas. And your wallet and bank account will thank you!
If you are looking for fun things to do when hanging out with friends or fun things to do with kids, your boyfriend, girlfriend, mom, spouse, or anyone in your life, this list is for you!
You will find plenty of activities to do at home, at night, or near you.
Plus the best part… we have tons of memories and experiences from these no money activities ideas!
Today, you will get a glimpse into how you can live differently with your money. Show you fun things to do when you’re broke. Maybe you’re not broke, but choosing to live a frugal lifestyle like us. Either way, you will save money along the way that you can use for something else.
It doesn’t matter if you make $15 an hour or have a 6 figure salary, these tips are for you!
We have found plenty of things to do without spending money.
Today, you are going to learn fun stuff to do that doesn’t cost money.
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 Can You Do Without Money?
Honestly, a whole lot.
There are so many free activities available today. You just need to put on a different perspective than the urge to spend money. These no money activities will keep your hard-earned cash in your hands and then you can use it towards your money goal. That is a win! Actually a HUGE WIN!
The question is… are you willing to try something new? In this case, something new would be a money free weekend or maybe a no spend month.
There are so many free fun things to do available to us, but we opt to spend money because that is the natural societal habit. Whatever your reason for finding fun things to do that don’t cost money, you are in the right place.
We are going to cover an extensive list of things to do instead of spending money.
This will make your no spend challenge easier or just a desire to save more money to reach your money goals.
Without further ado, let’s cover the 101 plus things to do that don’t cost money.
Fun Things to Do With No Money
We are going to dive into plenty of things to do instead of spending money. This list might surprise you with how many things to do for free.
For the frugal green person, this is exactly what they want to do.
You will find specific ideas for fun things to do with friends, over here.
1. Call a Friend: Back in the day, we spent many hours on the phone just talking with our friends. (Hint: like hours on end talking). Pick up the phone and call your friends. I am pretty sure you will come up with another fun thing to do next.
2. Bucket List: This is a must-have for everyone! Do you have a bucket list of things you want to do? Use timeframes to help create your list – one month, one year, three years, five years, 10 years, 20 years. Or in your lifetime? Don’t be worried if some of these ideas on your bucket list cost money. That will be figured out later. It doesn’t cost any money to make your bucket list.
3. Head to your Local Library: This is the best way to begin a frugal lifestyle. Libraries are jam-packed with free things – books, music, videos, games, or events. Plus you can find options for physical items as well as digital versions. Many libraries now have maker spaces, interaction labs, and kid play areas. These STEM spaces are available to further your creativity and not to spend money on equipment. Check to see if your library offers 3D printing!
4. Volunteer Usher. This is a great tip for Money Bliss reader, Elizabeth and one many of my friends did recently. By volunteering your time, you are able to check out the hottest concert or play for free. The key is your availability and finding the right contacts.
5. Explore Like a Tourist: Have you explored your own city the way you would if you were traveling? More than likely not. There are so many no money activities available. Just grab a tourist guide and start exploring.
6. Geocaching: Join in on the world’s largest scavenger hunt. It is easy to participate and a free activity. The goal is to catch hidden caches using GPS coordinates. All you need is a smartphone or a GPS device to participate. Time to find your next treasure!
7. Volunteer: Have you a passion? Then, find a local charity where you can volunteer. There are plenty of great organizations that are always looking for additional help to reach and help
8. Games: This is a favorite in our house. Each Sunday, you can find us playing games. Whether a card game, dominos, or board game, the options are endless. This is a class thing to do with friends and family. One of our favorites is Taco vs Burrito!
9. Get Outside: We are blessed to live in such unique and beautiful areas. Yet, we barely manage to step foot outside. As a family, this is one of the best ways we save money. It probably tops my list of the best frugal living tips. The world is full of free things to do for free and explore!
10 Start a Club: Remember your favorite after-school club from elementary school? What was your favorite part about it? More than likely, it was about connecting with your friends with the same interests and spending time together. The same concept is the same as adults. Dedicated time to hang out with your friends with the same interests. There are plenty of clubs that you can start. Here are some ideas: reading club, sewing club, cooking club, fishing club, mom and tots club, etc.
11. Explore the Outdoors: Fresh air is amazing for our bodies. Plus our world is filled with no money activities to do. Get outside, explore, and see your surroundings in a fresh perspective. You don’t need a ton of fancy equipment that comes to mind when wanting to explore nature. Just head outside and follow where your feet take you.
12. We Got No Money Party: When you are looking for places to hang out with friends, look no further than your own place. Gather some friends and have them over for the night. The only ground rule is they can only bring food and drinks from their house. Same goes for games and other fun activities.
13. Teach Others about your Hobby: What is your passion? Teach others about your favorite hobby. Who knows… maybe you can turn it into a side hustle and earn extra cash.
14. Scavenger Hunt: Kids love scavenger hunts and guess what… inside every adult is someone who loves a good scavenger hunt. Plenty of free scavenger hunt ideas with a little Google search.
15. People Watch: This is probably one of my favorite money-free activities to do when bored especially at IKEA. Just head to any local place and people-watch. Many times it is better than TV sitcoms. Grab a friend and you can create stories to attach to those you are observing.
16. Puzzles: When is the last time you have taken on a puzzle? Research shows it is one of the best things we can do to slow aging and diseases like Alzheimer’s. More than likely, you don’t have an extra puzzle lying around. Ask to borrow some from friends. Also, you can get ones for free on Next-door or Buy Nothing Facebook groups.
17. Host a Vision Board Party: This is a trending activity right now! There is no better time to manifest your dreams and goals than with your favorite people. Plus you can create a better life for yourself. Learn how to host a vision board party today!
18. Museums and Zoos: Many of the smaller museums and zoos are free entry. To check out the major museums and zoos, check their website to see when they offer free days. Most local cities are required to offer many free days in order to get funding from the city. Another way to get free admission is with your credit card, business affiliation, or college affiliation.
19. Free Tours: These are places to go when you have no money, especially in a big city. The options are endless on the types of businesses in the area. Some free tours include the U.S. Mint, candy factories, capital building, parks, brewery tours, etc. The list can be endless when finding free tours.
20. Apple Classes: Want to learn how to use your phone and be more productive? Need to cap your kid’s time on their devices? Want to learn how to take better pictures with your iPhone? You can do that in one of the many classes. Look for classes near you.
21. Pinterest Party: Let’s face it… We pin a lot of things that we want to do. Recipes we want to cook. Desserts to book. Crafts to make. Skills to learn. Time to brush off those Pinterest boards and find something to do.
22. Movie Marathon: Time to sit back and enjoy all of your favorite movies! If you don’t already have cable or Netflix, then you can still do this without spending money. Start a free Paramount+ trial (just make sure to cancel it), head to the local library, or swap movies with friends.
23. Learn a New Skill: Another productive way to use your spare time is learning a new skill. With learning, the options are endless. With the library and YouTube, it is easy to learn new skills without paying for lessons. The new skill I want to learn is how to play the drums. What is the new skill you want to learn?
24. Local Events Calendar: Hello free activities! Every city will offer some local activities throughout the year. Just mark your calendar. These events are perfect for hanging out with friends and for local fun.
25. Go for a Walk or Run: This is the ultimate no money activity. Grab your shoes and head outside to clear your head. The fresh air will do wonders and doesn’t cost a thing. Maybe this is the time to challenge yourself for that 5K or half marathon?
26. Go for a Bike Ride: For those who own a bike, it would be time to dust it off and go for a bike ride. This is a great way to exercise without a gym membership. Plus, if you are a spender on the way home from work, then look at commuting on your bike to avoid temptations. Personally, I enjoyed cycling so much that it made sense to upgrade my road bike. There may be a small cost to maintaining a cycling lifestyle, but it brings hours of exercise and I am too tired to do anything later.
27. Go Hiking: Find a local hiking trail. Before you go, make sure you have water and some sunscreen.
28. Make a Meal: The caveat is you can only use ingredients that you have currently in your house. No running to the store and spending money. Create a meal from what you have available.
29. Go on a Picnic: This is a favorite in our house! Change up your lunch or dinner by eating in a different location. Load uptake food, choose a spot, and go! You can go on foot, on bike, or take a little trip by car. Either way, you have to eat!
30. Write a Letter: When was the last time you wrote a letter? Not an email, text, or social media post. An actual letter that can be given to someone or mailed for a tiny price. Another great idea is to write a letter to someone to open at a future date. Some examples include: to your kids on their 16th birthday or when they get married.
31. Swap Items: This is one of the best ways to not spend money and get something in return!! Go shopping through someone else’s stuff and swap. You can create a host a swap party for items like clothing, toys, games, kitchen supplies, home decor, books, tools, etc. One person’s trash is another person’s treasure. This is something that you can do in person or online.
32. Birdwatch: Never been bird-watching? Then, grab a bird-watching book from your local library to make sure you can tell the birds apart and learn a few new facts.
33. Pick up a Book: What do you prefer – fiction or nonfiction? There are plenty of books to keep you entertained for hours. Also, you could ask a friend to read the same book and then plan a time to discuss it. If your local library doesn’t offer what you are looking for, then start a free trial of Kindle Unlimited.
34. Check Out a Local Gym: Almost all gyms want people to check out their place. Many will offer a free class or up to a free week. Try out a new spin class, yoga class, pilates class, or CrossFit. There are so many gyms popping up on every block that this can keep you busy and fit for a couple of months.
35. Photography: We all know that we have one of the best cameras at our disposal, but do you use the camera in your phone to the best of its ability? You can fiddle around with it, check out some YouTube channels, or head to the Apple store for a free class.
36. Photo Shoot: I stopped buying professional pictures of my kids a long time ago. There wasn’t a point in spending the extra money because as a parent I seriously have taken thousands (if not hundreds of thousands) pictures of them. And we have saved tons of money over the years, especially on sports and team photos.
37. Slideshows: Now, that we have tons of photos… what should we do with them? Turn them into a slideshow or some other digital way to view your photos.
38. Nature Walks: These types of walks have a purpose. To explore and realize the nature around you. Typically, in our house, the goal is to find 10 different types of objects (smooth, rough, prickly, big, small, etc.) or look for something with the same characteristics (like various rocks). The list of types of nature walks you can come up with is endless.
39. Go Sightseeing: There are so many beautiful places to look at in our cities. You can head up to the mountains, the beach, or even urban areas. You can plenty of things to do around here. Don’t forget your camera!!
40. Clean Your House: Really? Does this have to go on the list of ways to spend weekends with no spending money?!?! But, what a great way to spend your time especially when bored. Plus you will have something to show for your elbow grease and hard work.
41. Projects You Put Off: Raise your hand if you can think of a project or two (or ten) that you have put off. When you don’t want to spend money, it is a great time to dust off that list and dig in.
42. Make a Budget: If you are broke or struggling with no money, then it is time for a budget. A budget isn’t meant to be constricting. It is designed to help you spend money the way you want to. Manage your money ahead of time. Learn how to make a budget.
43. Take Surveys for Money: Have spare time, then make some extra money by taking surveys. One of the easiest things to do and not spend money. The best surveys to do include:
44. Declutter: This is one of my favorite things to do, but also one of the hardest. Why? I realize all of the money I spend on wasteful items that we don’t even use in the house. Many were impulse purchases or out of boredom. Then, it is hard for me to declutter and get rid of the items because of wasted money. However, living with less stuff means more meaningful time on things that matter.
45. Dive into Basement Storage: You could be doing one of two things. Cleaning out the basement area and getting rid of the unnecessary stuff burdening your life. Or pull out some of your favorite treasures and find a way to use them.
46. Clear Out Garage: This one makes me cringe, too! A great way to make productive use of your time on a no spend day is to clean out the garage. Clean out the unnecessary items and organize what is left. That way you can find a screwdriver the first time you look.
47. Neighborhood Cleanup: Since we are in the cleaning mood, let’s spread out to your local neighborhood. This is a great activity to do with a group of friends. With just a trash bag, you can leave a beautiful area for many to enjoy.
48. Redecorate a Room: What is more fun than a refreshed space? This is easy to do when changing out seasonal decor. Or just move the furniture around to create a whole new look. We did that with our dining room table direction and people would always think we did something massive!
49. Take a Nap: Who doesn’t want a nap (except for that young child who needs a nap)? Take care of yourself and take a step back from the busyness of life. Nap time is a special treat. Plus you can’t spend money when you are sleeping!
50. Video Gamer Competition: You can get free games through your library or with a free trial on Twitch. Just make sure to grab a friend to join you for a little bit of people socialization.
51. Playgrounds: Something that is easy things to do around here is found right in your neighborhood. Head to the local playground and run around crazy after your kids. Play tag and you will wish you had all of the energy they do! Change things up and find a new playground to check out.
52. Dump Debt: I always felt broke when I was in debt. If I spent money, I felt guilty about it. Figure out your debt free date and learn how to pay off debt faster. Use an app called Tally to help you overcome your debt.
53. Play Chess: This is a classic game that everyone should learn how to play. Plus it is one of the best free no no-money activities. Many cities have full-size chess pieces in local parks that make playing that much more fun!
54. Watch a Documentary: This is spare time well spent. A documentary will open your eyes to various views and perspectives. This is a productive use of your time.
55. Dance Party: This is always a hit, especially with kids. You don’t need to worry about where to go when you have no money. You can bring the party to you! There are so many free ways to listen to tunes and no money is spent for moving your body.
56. Delete Unused Apps: Take a few moments and delete any unused apps off your phone. This will help improve phone efficiency.
57. Art Supplies: Gather up all of the art supplies and see what type of creations you can make with stuff that you already have. Double bonus if you create some gifts, too! This is a great idea of things to do with friends! Here are things to draw when bored.
58. Cancel Unused Subscriptions: When you are broke, you need things to do, then look at what you spend money on but don’t use. This is a great money-saving tip! Use a service like Trim or Paribus to help you.
59. Daydream Life Without Debt: Okay, one of the top reasons people are broke is because of debt. We were in that situation too. I would always daydream about life without debt. And then it happened! Read more about our story on why we became debt free. Now, you can start to daydream about life without debt, too!
60. Listen to Podcasts: This is a great way to increase your knowledge around a certain subject or topic. Find your favorite podcast.
61. Post Skills & Make Money: Do you have a specialized skill or service that you can offer? You can post your skills and services on NextDoor, TaskRabbit, or Fiverr. It could be something as simple as shoveling walks or raking leaves. This is great if you want to double $10k quickly.
62. Make Extra Money: One of the best things to do instead of spending money is to be making money. There are plenty of ways to keep you entertained and not bored. Check out this list 20 Genius Ways on How to Make Money Fast. This cannot be stressed enough!
63. Feed the Ducks: Okay, well today, you aren’t allowed to feed the ducks. But, they are interesting creatures to watch and keep you entertained. But, this is somewhere to go when you have no money.
64. Memory Lane: Let’s take a stroll down memory lane. Pull out old photo books, find your keepsake box, and scroll to the of your pictures and videos. Grab some Kleenex and take a walk down memory lane.
65. Visit a Nursing Home: Looking where to go when you have no money? Then, look no further than the closest nursing home. Their residents are always looking for people to interact with. After striking up a conversation or two, you will walk away with golden nuggets of life lessons and a chance to learn from your mistakes.
66. Meal Plan: This one is a productive use of time plus will save you money over the next week. Use this money saving tip and learn how to meal plan like a pro.
67. Mediation: We are constantly on the go. When was the last time, you were just still? Take time and meditate. Start with mindfulness meditation. This is when you learn to pay attention to your breath as it goes in and out. Clear your mind.
68. Try a Budgeting App: This is a great time to stop living paycheck to paycheck and truly figure out where you spend money. Here are some great budgeting apps:
69. Set Goals: When you are asking yourself, “How can I spend weekends with no money?” Start by setting goals. Without an idea of where you go in life, you will be just bobbing along from one thing to another. Get help on making money goals.
70. Bake: More than likely, you probably have all of the baking necessities on hand. Try a new recipe or make an old favorite. Grab a friend or family member to make it more fun! Have too many cookies? Take them to a fire station or a nursing home.
71. Open Houses: In the market for a house, looking to remodel, or just want to redecorate, then check out open houses for ideas and inspiration. There are hundreds each week and a great way to spend weekends with no money. To add more fun, create a persona and a story on why you are looking at houses.
72. Watch a Sunrise: What better way to experience the wonderful beauty of nature! Find a spot to watch a sunrise and soak up the morning rays. Maybe even combine it with a short hike.
73. Watch a Sunset: The sunsets are us can be magical and absolutely colorful. There are so many spots to watch a sunset. Plus no two sunsets will be the same. Maybe even back a picnic.
74. Time Capsule: Make yourself a time capsule to be opened on a big birthday or in a big life year.
75. Craw Dad Fishing: Calling all dads (and maybe moms)! Head to a local creek with some sticks and hot dogs as bait. This is probably my kid’s favorite summertime activity.
76. Build a Fort: This is the only reason I keep so many blankets on hand. Kids can spend hours on end creating a fort with blankets. Pull in the chairs and start building. This will also include STEM learning because it is a science to get blankets to stay up on the fort without caving in.
77. Camp in Your Fort: Yay! Spend the night in your fort and pretend you are camping. This is a great stay-at-home idea for young kids.
78. Play in the Snow:I will admit it is snowing while I type this. All you need to do is head outside and find plenty of things to do without spending money. You can make snow angels, have a snowball fight, color the snow funny colors, catch snowflakes on your tongue, or shovel for extra money.
79. Built an Igloo Fort: This takes me back to feeling like a kid (at least until the soreness kicks in). Building a fort out of snow is so much fun! You can quickly spend hours outside and have a blast. Then, have fort wars!
80. Visit a Farmer’s Market: Learn what fruits and vegetables are local to your area. This is one of my favorite activities especially in small towns.
81. Learn a Foreign Language: With so many cool apps and websites, you can teach yourself how to speak a foreign language. Maybe you just need to brush up on those high school classes. Then, you can volunteer at a local community center to practice!
82. Find a Pet to Love: Head to your local animal shelter and love some pets that need to be rescued. This is a great way to not spend money and help the community. Maybe donate extra blankets to help out the rescue.
83. Figure Out Your Net Worth: This one hasn’t been popular with many of my readers. But, your net worth has to start somewhere (even if it is negative). However, we have been working to increase our liquid net worth this past year. If your goal is to become a millionaire next store, you have to start somewhere.
84. Dress Rehearsal. This one may be harder to find, but an awesome idea if you can. Some venues will allow people to attend their dress rehearsals for big shows. You won’t have the same experience as the real show. At the end of the show, you will save lots of money and may be asked to provide feedback.
85. Sound Checks: Is your favorite bank headed to town and you can’t afford to go? Then, go a couple of hours before the start of the concert and keep your fingers crossed they are doing sound checks. This works really well for outdoor concert venues. I have a cousin who has become a pro at this!
86. Get on a Realtor’s Mailing List: Realtors are always marketing their services and vying for attention. Many realtors will send out mailers with local activities that you can explore for free. Others may invite you to special events that are really fun and totally free for you!
87. Minute to Win It: Play this game against the clock which will have you laughing for hours. Most of the minute to win it games are with items you can find all throughout your house. This one is a winner to hang out with friends, kids, or families!
88. Find Grand Openings: This is where to go when you have no money. Search for grand openings in your local area. Many times you will walk away with freebies and other goodies! Plus more than likely you will have a story to share about your experience.
89. Free Exercise Routines: No need for a gym anymore! You can download apps for plenty of workouts to keep you fit and healthy. Scroll YouTube for yoga classes. If your goal is to lose weight, then try Healthywage and get paid for losing weight.
90. The Bad Gift Exchange: Plan a party with friends and tell everyone to bring the worst gift they got from the previous holiday. Hold a funny white elephant exchange and laugh at what people spend money on.
91. Free Class at Community Colleges: Check out your local community college for the free classes they are offering. You should be pleasantly surprised at how many free classes you can take.
92. Free Classes at Stores: Hitting up stores may seem backward on where to go when you have no money. However, many stores offer free classes or projects. The goal for stores is to get you in the store in hopes that you will buy one or two things while you are there. Resist the urge to buy something and go for the free projects. Stores I know that offer free classes, projects, and crafts: Ikea, Home Depot, Lowe’s, Joann’s, Michaels, and smaller mall stores.
93. Favorite Recipes List: Too many times we forget some of our favorite recipes and they go un-made for months. Create your go-to recipes that everyone in your family loves. This will make your meal planning much easier and faster. Even better… convert your recipes to a digital file.
94. Research your Genealogy: If you want to know more about your family history, then you can spend hours learning more on the various genealogy websites. Even better, call the family historian to learn more about your heritage.
95. Fly a Kite: Don’t worry about having to buy a kite in order to have fun! Get creative and make your own. This is something my kids have figured out how to do on their own with store grocery bags and string.
96. Invite Your Kid’s Friends Over: Kids always want time to hang out with friends. They can always find something to do with their friends. Then, you can get some quiet time. You don’t need to spend any money for everyone to have fun. It is a win-win situation.
97. Get Your Personal Finances in Order: This is one of the most important things to do. Yet, it always slips to the bottom of your list. Learn how to organize your personal finances and make sure your wills are up to date.
98. Make a To-Do List: There is no better time to power through your to-do list. It is a great idea to not spend money and be productive. You may have to DIY projects or save money to finish them another day. But, you can tackle the hard stuff.
99. Last Text Message: Scroll all the way to the bottom of your text message list and find that friend you haven’t talked to in a long time. Invite them over and have a conversation.
100. Free Apps: There are so many free apps available. You can learn a new skill, play a game, organize your life, sharpen your brain, and connect with friends. The options are endless on this one!
101. Local Festivals or Events: Once again, there are so many free activities. Check out your local area for weekend activities. Bonus hint: pack your own food and snacks so you aren’t tempted to spend money with the food vendors.
102. Camp in Your Backyard: You don’t need to drive anywhere to camp. My kids love setting up the tent to camp right here at home. The tent gets more use and the bathrooms are mighty convenient.
103. Check Newspapers. From Money Bliss reader, Elizabeth recommends checking the local newspaper as they list out all of the local events in the community. Her money saving tip is to use the library’s copy for free. Also, the online digital version may have the same info.
104. Free Trials: When you are looking for things to do for free and that don’t cost money, then look no further for free trials. The options are endless because people want to try out their product. At a bike event, I was able to do a free trial for a road bike. It was a great way to check out what I liked and not spend any money.
Ideas for possible free trials:
Just make sure to cancel before the trial ends!!
105. Count Your Blessing: Too many times we take for granted everything that we have. Take the time a start writing a list of everything you are grateful for. These blessings have enriched your life. Find ways to enrich someone’s life.
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The popular book of coupons is now a downloadable app!
The Entertainment® Book and Digital Membership offer 2-for-1 and up to 50% off discounts, all conveniently accessed on our mobile app, online or in the book.
Great way to save money on local restaurants, activities, hotels, adventures, and more!
Groupon’s top deals updated daily.
Discover and save on thousands of great deals at nearby restaurants, spas, things to do, and more.
How do you have fun without spending money?
Now, we have covered an extensive list of things to do with no money. Hopefully, you have learned that you don’t need to spend money to have fun.
You can enjoy your time and not spend money. You can be productive when bored.
You will always have an answer to what do you do for fun!
There are so many ideas to help you through your no spend days.
That should be a smile on your face (and your bank account).
You can figure out what should I do today.
The less money you spend each day the more money you can save for one of our money saving challenges. That is one of the best things you can do for your finances.
Don’t Miss… 90+ Fun Things to Do on Christmas Day
What are your favorite places to go with friends when you have no money? If I missed one of them, please tell me in the comments.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Purchasing a home is one thing, but purchasing a luxury home is a project at a different level. And if you’re planning to take out a $700,000 mortgage — one that’s just shy of the 2024 conforming loan limit of $766,550 — you’re going to need some pretty serious income to repay that debt. We’re talking about an annual income of around $180,000 – $200,000.
When it comes to qualifying for a mortgage, it’s more than just income that matters — and there’s no one-size-fits-all answer to the question, “What income do I need for a $700K mortgage?” That said, there are some important rules of thumb around how much of your income should be spent on a mortgage that can help you determine what’s appropriate for your income — and other factors that mortgage lenders look at during the qualification process.
Income Needed for a $700,000 Mortgage
Again, there’s no set income level required for a $700,000 mortgage — but a mortgage that large is likely to have a hefty monthly payment, which means you’ll need some decent cash flow to be able to make it work.
One rule of thumb states that your housing costs should be no more than 30% of your gross monthly income — that is, your income before taxes or any other deductions. We can use this rule to estimate how much income you need to make a $700,000 mortgage payment feasible.
First-time homebuyers can prequalify for a SoFi mortgage loan, with as little as 3% down.
How Much Do You Need to Make to Get a $700K Mortgage?
Let’s start by using a mortgage calculator to get a rough estimate of how much money per month a $700,000 mortgage will cost.
To create an example, we’ll assume the property value is $750,000, and that you start out with a $50,000 down payment. While your interest rate will vary depending on factors like market conditions and your credit score, we’ll put it at 7.00%, which is fairly typical as of the second quarter of 2024.
Plugging those numbers into the calculator, you’ll see that the estimated monthly payment comes out to about $4,657 per month. To make our 30% rule above even simpler, we can multiply that total by three to get a low-end ballpark income that’s appropriate for a payment that large. That figure comes to around $170,000 per year. Keep in mind, though, that this figure doesn’t include taxes and insurance, which can add an appreciable amount to that monthly bill. And if you’re putting down a smaller down payment, you’ll also have to pay private mortgage insurance (PMI). Add all that to the mix and you’re looking at an annual income requirement that is closer to $180,000 – $200,000.
For many Americans, that income requirement probably sounds pretty hefty: Per the most recent Census data from 2022, the median household income in the United States is $74,580. (Of course, exact income and cost-of-living figures vary by state.) Still, such a large loan may be within reach for some households — though it’s not just income that matters.
Recommended: The Best Affordable Places to Live by State
What Determines How Much House You Can Afford?
Income is obviously an important part of what qualifies you for a mortgage. After all, lenders are interested in your being able to repay the loan over time. However, your ability to earn enough money to support the payment is only one factor that goes into their overall assessment. While each lender has its own specific requirements and criteria, they all look at similar factors.
What Mortgage Lenders Look For
Some of the factors lenders consider when qualifying a borrower for a mortgage include:
• Income
• Job stability
• Credit history and credit score
• Existing debt
• Existing assets, such as bank and investment accounts
• Money available for down payment
To verify all this information, your mortgage loan officer will likely ask for documentation including your tax returns, W-2s, pay stubs, bank statements, and potentially more. Speak with your loan officer directly to learn exactly what you’ll need to submit as part of the mortgage preapproval process.
What Is a Good Debt-to-Income Ratio?
Let’s take a closer look at one very important part of your mortgage application: your debt-to-income (DTI) ratio. This important measurement is expressed as a percentage, and shows lenders how the debt you already carry compares to your available monthly income. It’s calculated by dividing your monthly debts over your gross monthly income.
While, again, specific requirements vary, most lenders require a DTI of 36% or lower, though in some cases borrowers can be qualified with a DTI of up to 50%. Generally speaking, though, the lower your DTI, the better; even if you can qualify with a higher amount of debt, it’ll be more difficult to make your monthly payments.
$700,000 Mortgage Breakdown Examples
As we’ve seen above, in order to qualify for a $700,000 mortgage loan, you’ll likely need a household income of at least about $180,000 per year — although again, whether or not you qualify will depend on many factors aside from your income, like your credit score and existing level of debt.
One way to get a good sense of how much house you can afford at your current income level is to use a home affordability calculator. If you toggle the “advanced” settings, you can also include costs like homeowners insurance and property taxes along with your income and existing debts. The calculator will spit out an estimate of how much house you can afford given all these circumstances — but remember, again, that this is only an estimate and not a guarantee.
Pros and Cons of a $700,000 Mortgage
Like any financial product (and anything in life), a $700,000 mortgage has both drawbacks and benefits to consider. Here are a few to keep in mind.
Pros of a $700,000 Mortgage
• Home appreciation may pay for the amount you spend in interest and prove a worthwhile investment
• Home ownership offers stability
• If you make timely payments, your mortgage could reflect positively on your credit history — and boost your credit score over time
Cons of a $700,000 Mortgage
• A mortgage is still a form of debt, and you will pay for the loan in the form of interest
• When you own your home, you’re responsible for any and all maintenance and repairs — which isn’t true for those who rent
• Depending on your interest rate, you may end up paying far more than the original home price over the loan’s lifetime
How Much Will You Need for a Down Payment?
There’s an old rule of thumb that states you should save up at least 20% of the home’s purchase price for a down payment. On a property listed for more than $700,000, that would come out to at least $140,000 — a pretty sizable chunk of change to save up!
However, these days, even conventional loans allow some first-time borrowers to put down as little as 3.00% on their home purchase — which, in this case, comes out to a far more reasonable $21,000. There is a caveat to be aware of, though: Borrowers who put down less than 20% will likely be required to pay PMI, which can add a few hundred dollars a month to your mortgage payment. Still, for those who have the cash flow to support this additional cost, it can be a worthy trade for earlier access to homeownership.
Can You Buy a $700K Home With No Money Down?
Some mortgage programs do allow borrowers to take out a mortgage with no money down — though you may have to meet certain eligibility requirements to qualify. For example, government-backed loans from the U.S. Veterans Administration (VA) and U.S. Department of Agriculture (USDA) loans don’t have a minimum required down payment, though these are only available to service members, veterans, and their families or to those looking in designated rural areas, respectively.
Is a $700K Mortgage With No Down Payment a Good Idea?
Even if you do qualify for a $700,000 mortgage with no down payment, it may not be the best idea financially speaking. Along with potentially being on the hook for the additional expense of mortgage insurance, you’ll start out with very low equity in your new investment, and your monthly payments may be substantially higher than they would be otherwise.
Can You Buy a $700K Home With a Small Down Payment?
Short answer: Maybe! As we’ve discussed, your ability to qualify for a mortgage is multifactorial, and the size of your down payment is only one of the many pieces mortgage lenders will consider. If the rest of your application is solid, a lender may qualify you for a $700,000 mortgage with a down payment as low as 3.00% ($21,000) if you’re a first-time homebuyer. Again, though, the only way to know for sure is to actually apply.
Can’t Afford a $700K Mortgage With No Down Payment?
If you’re not yet in financial shape to afford a $700,000 mortgage, or the process of saving up a down payment is getting you, well, down, there are steps you can take to get ready to make the purchase.
Pay Off Debt
It may be one of the most common tips to qualify for a mortgage — but it’s for good reason. Having even a small amount of debt can seriously impact your buying power, so paying off what you can and lowering your DTI can go a long way toward making a larger mortgage possible.
Look into First-Time Homebuyer Programs
If you’re a first-time buyer, it’s worth looking into first-time buyer programs that may be able to help you with your down payment or qualify you for a mortgage when you might otherwise not. One of the best-known first-time homebuyer programs is the FHA mortgage, which is backed by the Federal Housing Administration and may help you qualify even with a lower credit score.
Build Up Credit
Along with lowering your overall debt, building up your credit score can also help you qualify for a lower interest rate — which, over the course of a 30-year loan, can translate to big savings. Even a percentage point difference could save you thousands of dollars in the long run, so taking the time to repair or strengthen your credit today may be a well-placed effort.
Start Budgeting
If you don’t yet have a budget, the time before you purchase a home is a great time to start one. After all, homeownership usually comes with its own slate of expenses, from repairs to maintenance items and more, so ensuring you know where your money is going will help you prepare to meet those financial needs. (And, in the meantime, you may find some areas where you can make cuts that will make the upfront expenses, like your down payment, more feasible.)
Recommended: Refinance Your Mortgage and Save
Alternatives to Conventional Mortgage Loans
While conventional mortgages are the most common — and one of the most affordable options for those who qualify — there are different types of mortgage loans to consider. For example, as discussed, if you’re a first-time homebuyer, you may be able to qualify for an FHA loan from the Federal Housing Administration, which helps buyers qualify with lower credit scores than a conventional loan requires.
USDA and VA loans are also viable options for those looking in rural areas or who are (or are married to) service members or veterans.
Mortgage Tips
Need more mortgage help? Visit a home loan help center to study up on everything from amortization to escrow.
The Takeaway
While it takes a higher income to qualify for (and successfully pay off) a $700,000 loan, for many borrowers, it’s within reach — especially once you’ve found the right lender. Getting a mortgage doesn’t only depend on your income. There are multiple factors in play and learning the right mix could land you in a new home.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% – 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It’s online, with access to one-on-one help.
SoFi Mortgages: simple, smart, and so affordable.
FAQ
How much income do I need for a $700K mortgage?
While there’s no one set income level that will automatically qualify you for a $700,000 mortgage, using the rule of thumb that your housing payment should be no more than a third of your gross monthly income, you’ll likely need somewhere between $180,000 and $200,000 per year to qualify, depending on other factors like your interest rate.
What is the monthly payment on a $700K mortgage?
Specific payment amounts depend on a wide range of factors including the interest rate you qualify for, the property taxes in your location, and the size of your down payment. In an example where you’re purchasing a $750,000 home with a $50,000 down payment at a 7.00% interest rate, your monthly payment would be close to $4,700 before insurance or taxes.
Can I afford a million-dollar home if I make $100K?
Again, how much money you make is only one factor that qualifies you for a mortgage — no matter its size. That said, because of the size of the monthly payment of a large mortgage, a $100,000 salary likely wouldn’t be enough to get you into a million-dollar home.
Photo credit: iStock/DMP
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Mortgages Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
Whether you’re looking at homes for sale in Charlotte, NC, already renting a home in Atlanta, GA, or looking for your first apartment in Charleston, SC, decorating your child’s room is no easy feat. Their rooms are more than just a place to sleep; it’s a space where they can play, learn, and grow. Designing a kids’ room requires careful consideration of their current needs and future growth, ensuring the space is adaptable and flexible.
From selecting the right color palette to incorporating educational elements and ensuring the room is safe and organized, every detail contributes to creating an environment that nurtures your child’s development and happiness. Taryn Pratt reminds moms and parents alike to keep an open mind when curating a kids’ space. “Don’t underestimate what you can transform your spaces into,” Pratt shares. “Simple is best. You don’t need to spend a lot of money to make your room look nice.”
Inspiring and practical kids’ room ideas
Whether you’re designing a nursery for a newborn, creating a fun and functional space for a toddler, or updating a room to suit the evolving tastes of an older child, these inspiring and practical kids’ room ideas will help you transform a simple room into a magical haven that your child will love and cherish.
1. Embrace fun
Before diving into the journey of decorating your kid’s room, it’s important to channel the fun spirit of kids. “Kids are passionate about their favorite characters and interests, making their interests the center of the decorating = FUN,” Eboni with CR8JOI shares. “Whether it’s Batman, Barbie, sports, or a particular trending “aesthetic”- use toys and color to bring the theme to life. Since childhood interests change like the wind, focus on elements that can be easily updated. A themed pillow or picture, for example, can be easily swapped out. A themed room can be a joy-filled space where their creativity can shine.”
2. Themed rooms
Themed rooms, like Eboni shared above, can ignite your child’s imagination and make their space uniquely theirs. These spaces can provide a sense of adventure and excitement, creating an environment that stimulates creativity and play. Themes can also serve as an educational tool, teaching children about different worlds and concepts.
Space explorer: Use starry wallpapers to give the illusion of outer space, along with glow-in-the-dark ceiling stickers of planets and constellations. A spaceship bed can become the centerpiece, making bedtime an intergalactic adventure. Incorporate elements like moon and star-shaped cushions and posters of astronauts and spacecraft.
Nature lover: Create a forest ambiance with treehouse beds and leaf-shaped rugs. Wall decals of animals, trees, and birds can make the room feel like a walk in the woods. Consider adding a small indoor tent or a reading nook with a nature-themed design to enhance the outdoor feel.
Fairy tale: Canopy beds draped with soft, flowing fabrics can evoke a princess’s castle or a knight’s tent. Pastel colors and whimsical furniture like mushroom stools and fairy lights can transform the room into a magical kingdom. Add storybook characters on the walls and a treasure chest for toy storage.
3. Educational spaces
Incorporating educational elements into your child’s room can promote learning and curiosity. This approach ensures that learning is seamlessly integrated into daily activities, fostering a love for knowledge from a young age.
World maps: Use wallpaper or decals featuring world maps to teach geography. This can be both decorative and educational, helping children learn about different countries, continents, and oceans. Add interactive elements like map pins or stickers to mark places they’ve learned about or visited.
Bookshelves: Accessible bookshelves filled with age-appropriate books encourage reading and independence. Organize books by theme or reading level, and create a cozy reading corner with comfortable seating and good lighting to make reading time enjoyable.
4. Multi-functional furniture
Kids’ rooms often require flexibility as they grow. Multi-functional furniture can adapt to their changing needs, maximizing space and usability. Investing in versatile pieces can save money and space in the long run.
Bunk beds with desks: Ideal for shared rooms or small spaces, bunk beds with built-in desks provide sleeping, studying, and storage areas. The desk underneath can be used for homework, art projects, or computer time, making efficient use of vertical space.
Convertible cribs: Cribs that transform into toddler beds and later into daybeds or full-sized beds grow with your child. “Kids grow fast,” shares Mikayla Taylor. “Opt for an heirloom-quality convertible crib. With this crib, you can update your kids’ room with each stage up to a full-size bed. It’s a nice keepsake to remember those precious baby days as your child grows.” This adaptability ensures that the bed remains a fixture in the room for many years, making it a smart investment.
5. Creative storage solutions
A well-organized room can make playtime and cleanup easier. Creative storage solutions help keep toys, clothes, and books neatly tucked away, ensuring the room remains tidy and clutter-free. John with RAD Children’s Furniture recommends implementing a toy rotation system to keep their room organized and uncluttered. “Display a few toys at a time and store the rest out of sight. Regularly rotate the toys available to the child. This not only keeps the environment tidy but also renews interest and engagement with their toys. A minimalistic approach reduces overwhelm and helps children focus better.”
Under-bed storage: Utilize the space under the bed with drawers or bins for toys, clothes, and out-of-season items. This is a great way to keep the floor clear and make use of every inch of the room.
Height-appropriate, kid-friendly shelves: Use vertical space for storage by installing shelves for books, toys, and decorative items. Wall-mounted shelves keep items off the floor and within reach, creating a clean and organized look.Choosing shelving that matches your child’s height, such as our infant and 3-tier shelves is another great option, John with RAD Children’s Furniture also recommends. “This design allows children to easily access their belongings, fostering independence and encouraging self-directed play. It also enhances safety, reducing the need for children to climb or reach for items.”
Toy chests: Classic and functional, toy chests can double as benches. Opt for designs with soft-close lids to prevent pinched fingers and add cushions on top to provide extra seating.
6. Personal touches
Adding personal touches makes the room feel special and uniquely suited to your child’s personality. These elements can reflect their interests, hobbies, and achievements, making the space truly their own.
Customized art: Frame your child’s drawings and paintings to create a gallery wall. This not only showcases their creativity but also boosts their confidence and sense of pride in their accomplishments.
Name decals: Wall decals or wooden letters spelling out your child’s name add a personal touch. Choose designs that match the room’s theme and color scheme for a cohesive look.
Photo displays: String lights with clips can hold photos, drawings, and mementos, creating a dynamic and ever-changing display. This adds a warm, personal element to the room and allows for easy updates as new memories are made.
7. Interactive play areas
Incorporating areas dedicated to play within the room encourages imagination and activity. These spaces can be both fun and functional, providing a dedicated area for various activities.
Reading nooks: Create a cozy corner with bean bags, soft cushions, and shelves of books. A small canopy or tent can make the nook even more inviting, offering a quiet retreat for reading and relaxation.
Art stations: Set up a small table with art supplies for drawing, painting, and crafting. Ensure the area is well-lit and equipped with storage for supplies to keep the space organized and ready for creativity.
8. Lighting
Proper lighting can make a big difference in a child’s room, affecting both functionality and mood. Layered lighting ensures the room is versatile for various activities.
Layered lighting: Combine ceiling lights for general illumination, wall sconces for ambient lighting, and table lamps for task lighting. This approach provides flexibility and ensures that the room is well-lit for different activities.
Night lights: “Using nightlights is also essential to help with any potential nightmares or night terrors that may be happening,” Unnati Patel, certified pediatric sleep consultant and owner of Nested to Rested Sleep Consulting notes. “It also helps provide a clear path at night to the restroom in case they need to use the potty.”
9. Safety protocols
Safety is paramount in any child’s room. Ensuring the room is secure and hazard-free allows for peace of mind and a safe environment for your child to play and sleep.
Furniture anchors: Secure heavy furniture like dressers and bookshelves to the wall to prevent tipping. This is especially important as children may climb or pull on furniture.
Allergy considerations: Something you may not have thought of when planning your child’s perfect bedroom space is how to provide a healthy space with regard to allergies, asthma, sensitivities, and general health. from The Allergy Mom, Melissa Scheichl recommends paying extra attention to materials that attract dust mites.
“Dust mites affect quality of sleep, breathing, and general health and well-being and are attracted to carpeting, upholstery, drapery, stuffed animals, bedding, and mattresses. The dust mite feces can wreak havoc for allergies, asthma, skin sensitivities, etc,” Scheichl warns. “To reduce the effect of dust mites, consider protective mattress and pillow covers that advertise dust-mite protection (they need to be of a particular quality and fabrication to be effective – not just any mattress cover will do – and they need to completely encase the mattress.”Scheichl also recommends purchasing a portable HEPA filter or other indoor air purifier to remove particulate matter from the air in the bedroom.
Soft flooring: Use rugs or padded mats to cushion falls and provide a soft surface for play. Choose non-slip options to prevent tripping and sliding.
10. Don’t discount teenage years
As children grow into teenagers, their room becomes a vital personal space that reflects their evolving identity and provides a sanctuary for study, relaxation, and socializing. It’s important not to discount the teenage years when designing a child’s room, as their needs and tastes will change significantly during this period. Creating a flexible and adaptable space ensures that the room can evolve with them, accommodating their growth and changing interests.
Reduce clutter: “Your teen has a lot going on in their mind so try to keep things less noisy (in the visual sense),” shares Leyla Preston, founder and editor of Motherhood Diaries. “Studies show that maintaining a serene bedroom environment by minimizing clutter can enhance sleep quality. Make sure the room is free from excessive stimuli beyond schoolwork, including electronic devices that emit blue light to help maintain a conducive sleep setting. Blue light exposure from screens is known to disrupt the circadian rhythm, making it harder to fall asleep and stay asleep.
Tech integration: On the other hand, modern teenagers rely heavily on technology for both schoolwork and entertainment. Incorporate solutions for managing electronics, such as a charging station for devices, a desk with built-in cable management, and adequate outlets. Ensure the room has reliable Wi-Fi coverage and consider adding a comfortable seating area for reading or using a laptop when necessary.
Designing a place where kids can be kids
Designing a kid’s room is a delightful journey that allows you to blend creativity with practicality. By focusing on themes, multifunctional furniture, creative storage solutions, and personal touches, you can create a space that not only looks fantastic but also supports your child’s growth and development. Remember, the best kids’ rooms are those that reflect the child’s interests and provide a safe, comfortable, and inspiring environment for them to thrive.
Wesley Masters works on Redfin’s stellar Content Marketing team as a content writing specialist. She has been with Rent. since 2023 and her previous experiences include non-profit communications, graphic design, and content creation. Wesley lives in Atlanta, GA, and loves outdoor walks, hanging out with her loved ones, and finding new recipes to try on Pinterest. Her ideal home is a brownstone with contemporary interiors.
Counterintuitive Weakness Early, But Inconsequential in Bigger Picture
By:
Matthew Graham
Thu, Jun 20 2024, 3:26 PM
Counterintuitive Weakness Early, But Inconsequential in Bigger Picture
The past two trading days each had their own version of counterintuitive movement. Today’s installment featured bond yields rising after a batch of mostly weaker economic data. The only way to justify it using the data itself would be to assume the market’s nearly exclusive focus was on the inflation implications associated with higher Philly Fed prices (a component of the Philly Fed Index). Apart from that, we can consider position-driven trading which may have been behind Tuesday’s gains and now today’s offsetting losses. Regardless, none of the above matters considering the well-contained size of each move. Yields remain just shy of recent lows and have been trading a narrow range ever since last week’s rally concluded.
Jobless Claims
238k vs 235k f’cast, 243k prev
Continued Claims
1828k vs 1810k f’cast, 1813k prev
Philly Fed Index
1.3 vs 5.0 f’cast, 4.5 prev
Philly Fed Prices
22.5 vs 18.7 prev
Housing Starts
1.277m vs 1.37m f’cast, 1.352m prev
09:46 AM
paradoxically weaker after data. 10yr up 6bps at 4.284. MBS down 6 ticks
11:39 AM
gradually off the lows. MBS down an eighth and 10yr up 4.5bps at 4.269
02:32 PM
A bit more healing in Treasuries with 10yr up 2.6bps at 4.249. MBS still down almost an eighth.
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The impact of the elevated Federal funds rate and morgage rates on our economy is stark. The 5-unit sector, in particular, entered a recession in September 2023 and those permits have been at COVID-19 recession lows for an extended period. However, in the last few months, single-family permits have also been falling. The key turning point in every economic cycle is when construction workers lose their jobs in enough numbers that it pushes jobless claims higher.
Let’s take a closer look at today’s housing starts report.
From Census: Building Permits: Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,386,000. This is 3.8 percent below the revised April rate of 1,440,000 and is 9.5 percent below the May 2023 rate of 1,532,000.
We want to keep this very simple. We have a backlog of orders that need to be built out, so that has kept labor on five-unit housing going, as it takes 21 months to finish a 5-unit construction project. Once those projects are done, there will be far less residential work for these construction workers and they will need to look at alternatives, like government-funded projects such as semiconductor fabrication plants. This is why we keep an eye on permit data.
We all know that 5-unit permits have been at COVID-19 recession lows for some time now, but what is different now is that the single-family permits are falling too. We still have a backlog of single-family homes that need to be built and the purchase application data for those new homes is growing. However, once those homes get built, and if permits for new single-family houses continue to fall, that will be an issue for construction labor. Construction labor for single-family homes already took a hit after rates rose toward 7% in 2022.
From Census: Housing Starts: Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,277,000. This is 5.5 percent (±9.4 percent)* below the revised April estimate of 1,352,000 and is 19.3 percent (±10.0 percent) below the May 2023 rate of 1,583,000.
As we can see below, housing starts are at the lows that we saw in the COVID-19 recession. This is happening while permits for single-family homes have only recently started to trend down. As more and more homes get built, if we don’t grow permits soon, then that labor force pool that are building homes are at risk when their jobs are completed. Hopefully, mortgage rates will fall soon, increasing builders confidence and getting more deals in the pipeline. This is what happened last year.
Why is this so important?
Economic cycles have similar patterns: one is that the Fed raises rates too much and is too restrictive, which leads housing to go into recession first, meaning construction workers on the residential side of things go down first. In the past few months we have been creating jobs in this sector, but if this trend of falling continues, then the labor pool is at risk of a decline.
All in all, it is a disappointing trend report on housing starts data, but this has been in the works for some time. The other side of this equation is that if construction labor breaks, mortgage rates will fall and that will spur demand, so hopefully we can limit the future damage of production when that happens.
However, for now, we will keep a close eye on it. For those who hear the stories about higher rates being inflationary, this is what they’re talking about: that eventually, the restrictive policy will prevent the future production of housing. As I always say: “Supply is the best way to defeat inflation. Demand destruction is a short-term fix, supply wins in the long run.”