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Elizabeth has a lifehack that allows her to manage both money and space. She writes: “This helped me curb my lifestyle choices when I was in high school and first on my own.” Here is her guest entry.

Possessions scare me. My parents are pack-rats, and their house is full of things that have no right to be there. Desk space is taken up by dirty coffee cups, stacks of notebooks, and priceless, irreplaceable piles of loose paper. My Mom’s office, the biggest room in the house, has three narrow pathways: one to her computer, one to her bathroom, and one to her closet (which will not open because there is too much stuff inside and outside of it). Scary!

When I became a college student with a (very small) room of my own, I learned how rewarding it is to be in control of your living space, and how important thriftiness is on a student-sized budget. This is how I came up with the following method of worth assessment: the cost-per-day expense chart. How much does something you own cost per day you use it? And how long until your assets break even?

I use this technique to get rid of excess stuff, and to figure out how to be economical in possession and in purchase. This is also a good way to figure out what you’re spending money on, and to find alternatives — say, if you buy a lot of books, getting a library card, or if you buy a lot of music, start working at a radio station.

Preparation

You will need:

  • a few pieces of paper
  • a pencil
  • a calculator
  • two highlighters

You may also want:

  • a pen — I like to use two colored pens, red and black: black for numbers, red for comments or uncertain variables
  • a ruler to mark off columns
  • a computer with a spreadsheet program

I should preface this by saying that I am not a math genius. The purpose of this is to look at how much your lifestyle costs, not to make you feel insecure about forgetting sixth-grade algebra. All of the math herein is multiplication and division; you don’t have to solve for x, and you can use a calculator.

List Everything You Own and How Much it Cost

List everything. Don’t worry about order for now. You might want to look up every receipt, but that’s not necessary — I’d only recommend doing that for large purchases, such as a big-screen TV, a computer, or a boat. Exclude gifts you’ve received, since they cost nothing. If this seems daunting, start by writing the cost for each category of possession: clothes, books, furniture, etc. For example, if you have three pairs of shoes you wear in rotation that cost $45, $60 and $50, then group them, writing $150 under shoes.

List Everything You Pay for Monthly

List your mortgage, rent, student loans, insurance, cable, phone, internet, repairs, everything you pay that has an intangible attached to it.

Organize this Data

Make a table, either on the computer or on paper. You need four columns. The first three are the name of the item(s), cost and number of days used since it was bought. The fourth is “cost per day,” which we’ll get to in a second.


Part of J.D.’s cost-per-day table

After you’ve put in both the name and how much everything costs, estimate how many days out of the year you use it. If it’s something like clothes or shoes, chances are you use both every day of the year. If it’s a television sitting in your basement, chances are you use it zero days out of the year. If you’re really not sure, think of how many days you use the object per month and then multiply that by twelve.

Here’s a quick reference:

  • 73 days = 5 days/month
  • 84 days = 7 days/month
  • 170 days = 2 weeks/month
  • 252 days = 3 weeks/month

Calculate How Much Each Possession Costs Per Day of Use

This means you divide the cost by the number of days it’s been used in the last year. For example, I paid $150 for three pairs of shoes which I bought a year ago today. I wear one pair every day, so I punch in the following on my calculator:

$150 / 365 = $0.41095, or $0.41 for every day I wear shoes.

You can also calculate how much it’ll cost if you own or have owned something for over a year. For an $150 purchase which I use every day, the cost after a year and a half is $0.27; after 730 days of usage (two years) the cost is $0.21. If I own these very industrious shoes (or something of equal value) for a grandfantacular ten years and use them every day, then it only costs me $0.04 per day used. Do this first for all the straightforward purchases, such as shoes, clothes, furniture, dish sets, etc. Then proceed to the next step, which is to calculate harder sets.

Calculate Monthly Expenses

Tabulate regular expenses, such as rent, mortgage, utilities, DSL. This is the simplest part, because you multiply the monthly amount by 12 and divide it by 365. My utilities are $35/month for DSL, heating and electricity. $35 x 12 = $420. Since I use DSL, heating and electricity 365 days per year, I’m paying $1.15 per day for all three.

Group Open-Ended Items

Some possessions, such as media, are trickier to calculate. A book you buy might sit on your shelf for two years, only to be devoured in a week and cast aside for another two. The simplest way to calculate media expenses is to collate everything you’ve spent for that year, and how much time you spend on the activity. If you buy $200 worth of books/records/DVDs but spend 200 days out of the year (about two weeks out of every month) using that media, then you’re only spending $1 a day. This gives you a general idea of how cost-effective your consumption is, and gives you an idea if you can save money.

Take a Break

Seriously. Take an hour to do something that doesn’t involve math or thinking about finances. Go hiking, running, etc. But come back. If you’re like me and tend to take more breaks than needed, set a timer for yourself and stick to it.

Decide What to Get Rid of

This is the hard part. First, print a few copies of your chart. Now you’re ready to use your highlighters. One color indicates things that you need or must pay: insurance, rent, shoes, etc. The other color indicates things that have sentimental value: a first-edition book signed by the author, a stuffed animal, a wedding dress, et cetera. There’s always some grey area, and it raises some interesting questions. Do you really need cable? What about a television in the first place? The wedding dress is nice, but is it just taking up closet space? Are you really going to watch all those movies again and again?

This is why you have multiple copies of your chart. After you highlight everything you need/want, do it again and check the differences. You’ll have a better idea of what you can get rid of, and also how much less you can spend.

Conclusion

If you like this method, or if have math errors to point out, let me know. Feel free to ask me any questions (or to vituperate about how starting this was the worst experience of your life).

Elizabeth is a student and freelancer in Berkeley, California. She edits a zine, Zotapine, and does programming for KALX radio, including news features and anchoring.

Source: getrichslowly.org

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The 2023 Women’s World Cup may be wrapping up in a few weeks, but there’s still plenty of soccer to enjoy in the U.S. throughout the fall.

If you’re looking for cost-effective entertainment, attending a soccer match can be an affordable blast, offering the bright lights, concessions and high-octane moments you’d expect from other major league sporting events, often at a lower cost. That’s the case for both men’s and women’s games — but you could probably guess which ones are cheaper.

Men’s soccer games typically cost more than twice as much as women’s

On the resale markets, men’s soccer tickets are always pricier than women’s tickets. Like, a lot pricier.

First, a primer. The U.S. has two professional soccer leagues: the National Women’s Soccer League (NWSL) and the Major League Soccer (MLS), which is the U.S. league for men’s soccer.

To get a broad sense of what fans can expect to spend on MLS or NWSL tickets, consider data from SeatGeek, a ticket resale marketplace that has calculated average ticket costs for teams’ events.

Among tickets listed for resale on SeatGeek, MLS tickets cost an average of $50, while NWSL tickets cost an average of $23. Put another way: On SeatGeek, women’s soccer tickets cost less than half the price for a ticket to a men’s game.

And city to city, the gulfs between ticket costs range dramatically.

The starkest discrepancy is in Houston, where Houston Dash NWSL tickets average $15, and Houston Dynamo MLS tickets average $45 — three times as much.

Tickets to men’s and women’s games are the most closely priced in Washington, DC., with tickets to the Washington Spirit NWSL matches averaging $29, and those of the D.C. United MLS team, at $42, per SeatGeek.

The value of attending a women’s soccer game

So yes, across the board, tickets to NWSL matches are significantly cheaper than tickets to MLS matches — a disappointing byproduct of systemic discrimination in sports, but an excellent reason to put your entertainment dollars toward women’s soccer games.

And chances are, your local women’s team has some of the best professional soccer players on the planet. That’s because NWSL players also make up the U.S. Women’s National Team (USWNT) — you know, arguably the best women’s soccer team in the world.

The U.S. Women’s National Team has won four of the eight FIFA Women’s World Cups that have been held. Meanwhile, the U.S. Men’s National Team (USMNT) hasn’t won any of the 22 FIFA World Cups held since 1930. The women’s team has won four Olympic gold medals, while the men’s team has nabbed one Olympic medal since 1904 — bronze, in 2000.

Americans seem to be catching on to the hype. The NWSL is growing explosively a​s attitudes around women’s sports continue to evolve. Attendance skyrocketed 80% year over year in 2022, and revenue from ticket sales swelled more than 125%, according to CNBC.

Attending a NWSL match means supporting the league — and watching world-class players — for a relatively low cost.

“The rocket fuel behind the growth of any sport league is attendance,” Jessica Berman, commissioner of the National Women’s Soccer League, told ESPN in 2022.

Where to watch soccer

Catch a women’s soccer game if you live near one of the 12 U.S. cities with NWSL teams: Cary, North Carolina; Chicago (technically Bridgeview, Illinois); Houston; Kansas City, Kansas; Los Angeles; Louisville, Kentucky; Harrison, New Jersey (in the New York area); Orlando, Florida; Portland, Oregon; San Diego; Seattle and Washington, D.C.

If attending isn’t feasible, you can watch U.S. soccer matches on streaming services like Fubo, a streamer focused on live sports.

The 2023 Women’s World Cup concludes on Aug. 20, and all of its matches will be streamed on the Fox Sports app, through certain cable providers. Alternatively, Fubo, YouTube TV or Sling TV subscriptions may be your best move. For details, read up on how to watch the Women’s World Cup.

Source: nerdwallet.com

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With the uncertainty the job market has brought to many over the last several years, mortgage unemployment protection insurance has become more popular. While people are fearing the chance of getting laid off, they are more hesitant to take out a mortgage and then not being able to pay it and losing their home. This insurance has strict eligibility requirements, however, so it may not be for everyone.

Unemployment Protection Insurance, unlike mortgage insurance, is designed to help the buyer rather than the lender. Although it does help encourage reluctant home buyers, so this insurance indirectly benefits lenders as well. Mortgage unemployment protection insurance does what you might think it does – protects the buyer if they are unable to pay their mortgage due to a job loss until they can get back on their feet.

Before looking into purchasing this insurance, you need to first realize who this insurance is made for and what the strict guidelines for acceptance are. This type of insurance is truly for full time employees who find themselves laid off or fired. It will not cover people who are fired with cause, have seasonal jobs, are self-employed or those who do not receive a W-2. It will also not cover you if you voluntarily quit your job.

Who Qualifies for Unemployment Mortgage Protection?

For those who do qualify, remember that you will need to pay premiums on this insurance just as you do with other insurances. For instance, factors that affect your premiums are your age, your health history and current health, and your employment history and how long you have been at your current job.

If you decide this is something for you, make sure you do all the research you can beforehand to make sure you know what the benefits and downfalls that this insurance has to go with it. You first need to find a trusted insurance agent who will be able to sit with you to show you all the details of the insurance. You want to look at the duration of the insurance if you ever need to use it. Most companies will pay your mortgage for up to six months. A few may go up to a whole year. Decide if the duration is long enough for you to be able to find another job and be able to take on your mortgage payments by yourself again.

What’s Your Status?

Also check the conditions of the insurance and consider your current job situation. Some of these policies require that you hold them for at least six months before even being able to use them. If you think you are in jeopardy of being laid off soon, the insurance may not even wind up benefiting you. Plus, you usually have to disclose this information to the insurance company before purchasing such an insurance. If the insurance company deems you as too much of a risk, your application is not likely to be accepted.

Final Verdict On Mortgage Insurance

Overall, mortgage unemployment protection insurance can be something that can make those who qualify more comfortable when purchasing a mortgage loan.  The need of this type of policy has much to do about your job situation.  I’m sure there are many that in 2008-20009 that lost their job wished that had taken out this type of policy.  If you feel about the job situation then I would probably pass.

Source: goodfinancialcents.com

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The Federal Trade Commission and the Florida Attorney General are sending refunds totaling more than $540,000 to consumers nationwide who were defrauded by Life Management Services of Orange County, LLC, and related companies who tricked them into paying for worthless credit card interest rate reduction and debt elimination programs. The average check amount is $117.

The FTC is sending checks to more than 4,600 consumers. Recipients should cash their checks within 90 days, as indicated on the check. Consumers who have questions about their refunds should contact the refund administrator, JND Legal Administration, at 1-877-381-0342, or visit the FTC website to view frequently asked questions about the refund process. The Commission never requires people to pay money or provide account information to get a refund.

According to the FTC’s June 2016 complaint, brought jointly with the Florida Attorney General, the Life Management defendants bombarded consumers with illegal robocalls trying to sell them bogus credit card interest rate reduction services. The defendants made phony guarantees about lowering consumers’ credit card interest rates and saving them thousands of dollars in interest payments. Customers made up-front payments but rarely, if ever, got the promised services.  The defendants also pitched a bogus credit card debt elimination service, falsely claiming that they could access funds from the government or from a lawsuit against the credit card industry to pay off consumers’ credit card debt.

A court order announced in June 2019 as part of a law enforcement effort to halt illegal robocalls  partially settled the Commission’s complaint by permanently barring 17 Life Management defendants from engaging in telemarketing and debt relief services and requiring them to pay money to provide refunds to defrauded consumers. The district court awarded the FTC and Florida summary judgment against the scheme’s ringleader, Kevin Guice, in December 2018, and the United States Court of Appeals for the Eleventh Circuit affirmed the district court’s judgment in March 2022.

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The Commission’s interactive dashboards for refund data provide a state-by-state breakdown of refunds in FTC cases. In 2022, Commission actions led to more than $392 million in refunds to consumers across the country.

The refunds being sent today are the result of a settlement resolved before the U.S. Supreme Court ruled in 2021 that the Commission lacks authority under Section 13(b) to seek monetary relief in federal court. Because of that ruling, the Commission no longer has its strongest tool to return money to consumers, and it will become harder to provide refunds to consumers harmed by deceptive and unfair conduct. The Commission has urged Congress to restore the Commission’s ability to get money back for consumers.

Source

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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Source: getoutofdebt.org

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So a guy, an Austrian fellow named Andreas Gindelhuber, with apparent dreams of making money in real estate here in the United States, resorted to selling his home in exchange for an iPhone 6 last week.

He originally purchased the foreclosed 3-bedroom, 1.5-bath Detroit home (you probably already knew it was in Detroit) for $41,000 in April 2010, per Zillow.

Two weeks later, it was listed for rent at a seemingly reasonable $750 per month. After languishing on the market for two months, Gindelhuber lowered the rental price to $695 per month and finally found some tenants.

But the neighborhood where the home is located was hard hit by the housing crisis, prompting nearby residents to move out and leave their properties behind.

Eventually his tenants also headed for the exits, leaving the place vacant and in disrepair. He also had a $6,000 delinquent property tax bill to worry about, so he hired local real estate agent Larry Else to market the property.

It’s unclear how the property got so badly damaged, but it’s supposedly missing all its doors and windows, and also has extensive smoke damage. I’ve heard about houses getting set on fire in Detroit…

Anyway, it seemed no one wanted the thing, even for the price of FREE.

Still, Gindelhuber listed the badly damaged property for $5,000, hoping to get some interest from somewhere, hopefully.

Then reality set in, forcing him to lower the asking price twice in two months, first to $4,000 and then to $3,000.

Then His Real Estate Agent Got Creative

That still didn’t cut it, so Gindelhuber and Else brainstormed. At some point Else remembers Gindelhuber telling him he would trade the house for an iPhone 6 or a new iPad 32 GB.

Realizing it could be a great publicity stunt that would no doubt put Else’s name on the map, they decided to add the potential barter to the official listing.

It didn’t take long for news outlets to pick up on the story, including a local Fox affiliate and Yahoo!, then it went viral.

A short week or so later the property has been sold to a local man (who lives down the street) for an unknown price, but apparently less than $1,000.  He plans to fix it up.

The funny part about the story is that Gindelhuber didn’t actually get his iPhone 6 or iPad in exchange for the sale.

But thanks to the Internet and its greatness, a man from Germany has offered to donate his brand new iPhone 6 to Gindelhuber.

The story also wound up in a German magazine, prompting the man to e-mail Else, claiming the story “touched me somehow.”

So it all worked out.

Source: thetruthaboutmortgage.com

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A new lender has entered the mortgage space, but this one’s a little unique, and its offerings are too.

You see, they’re a “marketplace lender,” otherwise known as a peer-to-peer lender, meaning everyday investors can provide funds to borrowers seeking mortgages.

The lender in question, San Francisco-based Social Finance, or “SoFi” for short, says individuals and institutional investors have the ability to “create positive social impact on the communities they care about while earning compelling rates of return.”

In other words, you can be the mortgage lender and make some money in the process. Oh yeah, and earn some good karma if you think peer-to-peer lending is an act of goodwill.

Anyway, the company has already doled out over $1 billion in student loans and now has its sights set on the mortgage market, which some seem to think has become too restrictive. Just ask Ben Bernanke…

The idea here is to target early-stage professionals (recent graduates) who need help financing their home purchases (they also offer refinancing). They are known as “HENRYs,” or High Earners, Not Rich Yet.

Basically, they have the income, but they may not have the savings for a down payment yet, thanks to student loan debt and a lack of earnings history.

SoFi Offers Interest-Only and 10% Down Mortgages with No MI

  • Aside from appealing to Millennials
  • And being a tech-driven mortgage disruptor
  • SoFi also offers specialty home loans you won’t find everywhere else
  • Like interest-only products and low-down payment mortgages without MI

I dug into their website and found some interesting stuff. For one, they offer interest-only mortgages, which are considered non-QM and somewhat harder to come by these days.

Additionally, they offer loans with as little as 10% down without mortgage insurance, which again is slightly unconventional but probably just collected via a higher interest rate.

Still, they offer IO mortgages with loan amounts as high as $3 million, meaning they’re a jumbo peer-to-peer non-QM mortgage lender.

Per their website, they currently offer a 5/1 ARM with a 10-year interest-only option, a 7/1 ARM, and a 30-year fixed.

SoFi Home Improvement Loans

  • They also offer home renovation loans
  • With online approval to funding in just 7 days on average
  • The loans are unsecured so your home equity isn’t involved
  • SoFi doesn’t charge any closing costs and payments are fixed

The company also recently launched a line of home improvement loans for those looking to do renovations on an existing property.

They do not charge origination fees or other closing costs, nor do they charge for a home appraisal.

Additionally, you can borrow up to $100,000 without any home equity. To that end, they are more like personal loans than they are HELOCs.

Borrowers can take out amounts ranging from $5,000 to $100,000 depending on their needs.

At last glance, rates ranged from 6.58% APR to 13.62%, assuming you use autopay to make monthly payments.

And terms varied from just three years to seven years and potentially longer.

They advertise fixed rates, but you might have the option of a variable rate as well.

SoFi Mortgage Rates Seem Pretty Competitive

  • They seem to offer pretty attractive mortgage rates
  • Relative to the competition
  • And because SoFi doesn’t charge origination fees
  • The rates might even be cheaper than they look

I took a look at SoFi mortgage rates on June 1st, 2018 and they appeared to be fairly competitive relative to what else is out there.

The assumptions were for an 80% loan-to-value ratio, which means 20% down payment or 20% in existing home equity. If you’re putting down less or have less equity, expect a higher interest rate.

Additionally, the 5/1 ARM assumes a 75% LTV, so you need at least 25% equity or down payment.

Sample mortgage rates from June 1st, 2018 were as follows:

– 4.375% for the 5/1 ARM with an interest-only option

– 3.875% for the 7/1 ARM

– 4.125% for the 15-year fixed

– 4.25% for the 30-year fixed

They seem pretty close to what traditional lenders are offering these days, though keep in mind that SoFi doesn’t charge loan origination fees, similar to Eave, so you need to factor in the lower fees as well, which can be a game-changer.

SoFi’s Loan Underwriting Is Supposedly Quick and Easy

  • SoFi is attempting to speed up the home loan process
  • By banking on technology
  • They say they can close a mortgage in less than 21 days
  • Versus the industry average of 30-45 days

Are you an ambitious professional? If so, you might be the right fit for SoFi. Even more intriguing than their product offerings is their underwriting process.

SoFi claims that they can fund a mortgage in less than 21 days, as opposed to the industry average of 30-45 days. And they promise not to ask for “useless details.”

Part of their speediness be related to the fact that they use AVMs instead of appraisals for loan approval, which can certainly save some time. However, they eventually conduct an in-person appraisal as well.

They also ask applicants to apply and upload documents online, which allows them to complete loan approvals complete with automated valuations in less than 48 hours.

SoFi Cares Where You Went to School and What You Majored In

  • Because of their student loan background
  • SoFi cares where you went to school
  • And what you studied while you were there
  • This is probably a means to keep defaults low by only going after applicants with bright futures

Of course, there is a major caveat. In order to qualify for a SoFi mortgage, you need to have graduated from a selection of Title IV accredited universities or graduate programs.

This might have something to do with the fact that they were a student loan lender before jumping into mortgages.

Not sure which schools/degrees qualify, but I think the expectation is that even if you aren’t making much money now, you’re expected to be in the near future.

I went through the beginning of the loan application process online and noticed that only certain degrees were listed. It’s unclear if it’s an exhaustive list, but they certainly take schooling seriously.

However, SoFi refers to their debt-to-income limits “flexible,” so you might be okay if income is a little light as long as you went to Stanford.

They also determine loan eligibility by credit history and employment status, and require that applicants be at least the age of majority in their state. So I take that to mean no child doctors. Sorry Doogie.

At the moment, SoFi mortgages are only available in California, DC, New Jersey, North Carolina, Pennsylvania, Texas, and Washington on owner-occupied properties, but they’re expected to reach other states soon.

For the record, if you want to become an investor in SoFi mortgages, you need to be an accredited investor, which generally means you need to have a net worth of over $1 million (excluding your primary residence) or make $200k per year.

So no, not every Tom, Dick, and Harry can become an individual mortgage lender, but those with money can.

It’ll be interesting to see if P2P lending gets more popular in the mortgage world as prospective homeowners look beyond traditional banks and lenders for financing. Stay tuned.

SoFi Is Offering Free Avocado Toast to Mortgage Customers

  • Back in 2017 they ran an avocado toast promotion
  • To make it really clear who they were targeting
  • Young prospective home buyers
  • It was a play on Millennials love for the culinary treat

This just in…in a bid to be the silliest mortgage lender out there, and perhaps appeal to disgruntled Millennials, SoFi is offering free avocado toast to customers who take out a purchase mortgage with the company in July 2017.

While it’s hardly a reason to buy a home, or take out a mortgage with SoFi specifically, it is kind of funny.

The back story is that Millennials have been accused of wasting all their money on trendy foodie things like avocado toast, dashing their hopes of homeownership.

To combat this myth, or perhaps reinforce it, SoFi is giving away a month’s worth of avocado toast to its customers for a limited time, delivered straight to their new door.

Curious how much a month’s worth is? Apparently three shipments of bread and avocados. Oh, and you get to select gluten-free or regular bread, but you have to toast it yourself…

Holy guacamole!

Source: thetruthaboutmortgage.com

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While this might sound a little hard to believe, it has been reported that former Federal Reserve chairman Ben Bernanke was unable to refinance his mortgage.  Yup, he got straight up denied.

You might be thinking, yeah right, why would a lender deny such a high profile individual who you’d think would be good for the money?

After all, he did direct the monetary policy for the entire United States, so the prospects of him paying the mortgage on time are pretty darn high.

But it’s true! He apparently shared the unfortunate news with Moody’s economist Mark Zandi at the National Investment Center for Seniors Housing & Care Conference in Chicago.

When speaking of his attempt to refinance the mortgage, Bernanke said he was “unsuccessful in doing so,” at which point the audience burst into laughter.

No Laughing Matter, Seriously

The crowd was probably pretty surprised when Bernanke followed with, “I’m not making that up.”

He then went on to add that lenders may have gotten a little too conservative with their mortgage underwriting as of late, and that the tightening had become “excessive.”

Additionally, he noted that regulators, presumably the CFPB, haven’t seemed to get the housing market right.

Perhaps they’ve made it too difficult for certain borrowers to get mortgages thanks to the new Qualified Mortgage rule, which among other things, doesn’t allow DTI ratios above 43%.

So I got thinking why Bernanke would be denied a refinance, and then a light bulb went off in my head.

He just resigned from his job as chairman of the Federal Reserve after two successive terms spanning eight years.

Perhaps lenders are well aware of this and not interested in extending a loan to someone who is either retired or short on income.

Sure, he might have plenty of money in the bank, but if the bank can’t determine his ability to repay the loan, he might have to go with a non-QM loan instead.

And Bernanke probably thinks that’s preposterous, seeing that he’s the former Fed Reserve chairman.

It Seems a Little Fishy…

While it does sound really silly, he might have a point about the new mortgage rules, and their unintended consequences.

At the same time, I can’t see why a large bank wouldn’t offer Bernanke amazing terms on a mortgage and simply keep it on their books. He’s not much of a credit risk, so there’s no reason to sell the loan on the secondary market.

Maybe it’s just a stunt orchestrated by Ben to get regulators to take another look at the harsh new guidelines now in place.  Or somebody at the bank made a huge mistake…

By the way, he’s currently a Distinguished Fellow in Residence at The Brookings Institution, which may or may not be an adequate job title as far as an underwriter is concerned. Hmm.

For the record, Bernanke refinanced his home mortgage at least twice in the past several years, with the most recent mortgage choice a 30-year fixed on his D.C.-area three-bedroom residence.

It’s unclear what he was up to this time around, but I doubt he was attempting to get the interest rate on his 30-year mortgage any lower.

Maybe he decided to roll the dice and go with a short-term ARM in order to save money and invest elsewhere. Or perhaps he needs to tap some equity.

Who knows? Either way, I’m sure someone will offer him a pretty sweet refinance sooner rather than later.

(photo: Medill DC)

Source: thetruthaboutmortgage.com

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When shopping for apartments, listings feature numerous dimensions stating how small or large the space is. Obviously, a 1,000-square-foot apartment will be larger than an 800-square-foot apartment. But if both apartments have two bedrooms, it’s hard to distinguish how much larger the 1,000-square-foot apartment is.

So, how big is 1,000 square feet? Learning how to measure for yourself and looking at some comparisons can go a long way in putting 1,000 square feet into perspective.

How to measure 1,000 square feet

To provide guidelines on standardized measurements, the American National Standards Institute oversees standards and conformity assessment activities to keep everyone on the same page. However, not everyone adheres to these standards, so it’s imperative to take your own measurements to confirm an apartment is an advertised size.

To adequately measure an apartment, condo, townhome, rental house, tiny home or other property, start by listing all the different rooms in the unit on a piece of paper. This includes all closets, hallways, utility spaces and so on.

Next, measure each room with a tape measure. Measure both the length and width of the room and then, multiply those two numbers. That’s the square footage of the room, which is noted by the correct space on the list.

If you have a room with an offset that’s not flush with the rest of the room, measure that section separately. For instance, if the kitchen has an eating nook, measure the straight lines of the kitchen, and then measure the straight lines of the eating nook to get each section’s square area.

To keep the math simple, round all measurements to the nearest half foot. For example, if the master bedroom is 12 feet by 8 feet, 7 inches, multiply 12 by 8.5 to get the square footage: 102 square feet.

After measuring all spaces in the unit, add them together for the unit’s total square footage.

Source: Rent. / Buckhead Town Homes and Gardens

What does 1,000 square feet look like?

It’s not easy to picture how much space 1,000 square feet actually is, so consider some comparisons. One example is a regulation tennis court for singles matches. This court measures 2,106 square feet, so a 1,000-square-foot apartment would sit on about one-half of the tennis court. Here are some other comparisons:

  • The average two-car garage is 400 square feet, so imagine two and a half two-car garages sitting side by side
  • On an NBA basketball court, the foul line is 19 feet from the baseline behind the basket. The court is 50 feet wide. If you measure the court size from the baseline to the foul line, it is 950 square feet.
  • The average size of a rectangular in-ground swimming pool is 200 square feet, so imagine five swimming pools side by side

How much can I fit into a 1,000-square-foot apartment?

Although actual layouts may vary, many 1,000-square-foot apartments often have two bedrooms, two bathrooms, a living area, a dining area and a kitchen. Within those layouts, the rooms may vary, such as a larger living and dining area and smaller bedrooms.

In some cases, the living and dining rooms could be about the same size as the bedrooms. Or, the bedrooms could be larger, with small main living spaces.

It’s likely a king bed will fit comfortably in at least one of the bedrooms. The living area likely will accommodate a sofa, a couple of chairs and two or three side tables. The dining area usually is large enough for a kitchen table and four chairs.

Given these are basic items, a 1,000-square-foot apartment also usually will accommodate accessories, such as bookshelves, TV consoles, dressers and other furnishings.

A 1,000-square-foot apartment generally accommodates a family of four or less.

The benefits of living in 1,000 square feet

When considering a 1,000-square-foot apartment, there are many benefits to choosing an apartment of this size.

You’ll have extra space for storage

In a 1,000-square-foot apartment, you could find yourself with plenty of storage space. For instance, if you plan to use the second bedroom as an office or guest room, you can use that bedroom’s closet for storage.

Plus, you can put furniture in there to use as storage, such as bookcases, chest of drawers and armoires.

You could save on utility costs

Choosing a 1,000-square-foot apartment could help keep utility costs in check. Having a smaller floor area means less work keeping it warm or cool enough, which reduces the cost of your electric bill. Fewer windows could help, as well, since you can keep curtains closed in the winter to keep warm air in and help prevent cold air from escaping during summer.

Use effective interior design to maximize space

Once you start moving into a 1,000-square-foot apartment, the rooms may start to feel smaller. But you can take steps to prevent that from happening with the right home designs.

For instance, decorating with lighter colors can reflect light and make the rooms feel bigger. If the walls are already white or a light color, just add pops of color through accessories like area rugs, throw pillows and artwork.

While you want to maximize the storage space in your apartment, don’t try to cram too many furnishings into the rooms. For example, choose a large sofa, chair and coffee table instead of several chairs, a loveseat and side tables.

Adding baskets also can help keep your apartment decluttered, so you don’t feel like your stuff is overtaking the place. Baskets are great catch-alls for books, magazines, papers and other items in the living room.

They also serve as a good storage spot for towels if you don’t have a lot of cabinets in the bathroom. Throwing toys in your child’s bedroom also can make clean-up quick and easy.

Turn 1,000 square feet into your perfect living space

For many people, 1,000 square feet may seem like a small apartment while, for others, it may seem like more than enough square footage. Regardless of your circumstances, you can make 1,000 square feet your perfect-sized property with the right furnishings and home designs in each of the rooms.

Source: rent.com

Apache is functioning normally

When shopping for apartments, listings feature numerous dimensions stating how small or large the space is. Obviously, a 1,000-square-foot apartment will be larger than an 800-square-foot apartment. But if both apartments have two bedrooms, it’s hard to distinguish how much larger the 1,000-square-foot apartment is.

So, how big is 1,000 square feet? Learning how to measure for yourself and looking at some comparisons can go a long way in putting 1,000 square feet into perspective.

How to measure 1,000 square feet

To provide guidelines on standardized measurements, the American National Standards Institute oversees standards and conformity assessment activities to keep everyone on the same page. However, not everyone adheres to these standards, so it’s imperative to take your own measurements to confirm an apartment is an advertised size.

To adequately measure an apartment, condo, townhome, rental house, tiny home or other property, start by listing all the different rooms in the unit on a piece of paper. This includes all closets, hallways, utility spaces and so on.

Next, measure each room with a tape measure. Measure both the length and width of the room and then, multiply those two numbers. That’s the square footage of the room, which is noted by the correct space on the list.

If you have a room with an offset that’s not flush with the rest of the room, measure that section separately. For instance, if the kitchen has an eating nook, measure the straight lines of the kitchen, and then measure the straight lines of the eating nook to get each section’s square area.

To keep the math simple, round all measurements to the nearest half foot. For example, if the master bedroom is 12 feet by 8 feet, 7 inches, multiply 12 by 8.5 to get the square footage: 102 square feet.

After measuring all spaces in the unit, add them together for the unit’s total square footage.

Source: Rent. / Buckhead Town Homes and Gardens

What does 1,000 square feet look like?

It’s not easy to picture how much space 1,000 square feet actually is, so consider some comparisons. One example is a regulation tennis court for singles matches. This court measures 2,106 square feet, so a 1,000-square-foot apartment would sit on about one-half of the tennis court. Here are some other comparisons:

  • The average two-car garage is 400 square feet, so imagine two and a half two-car garages sitting side by side
  • On an NBA basketball court, the foul line is 19 feet from the baseline behind the basket. The court is 50 feet wide. If you measure the court size from the baseline to the foul line, it is 950 square feet.
  • The average size of a rectangular in-ground swimming pool is 200 square feet, so imagine five swimming pools side by side

How much can I fit into a 1,000-square-foot apartment?

Although actual layouts may vary, many 1,000-square-foot apartments often have two bedrooms, two bathrooms, a living area, a dining area and a kitchen. Within those layouts, the rooms may vary, such as a larger living and dining area and smaller bedrooms.

In some cases, the living and dining rooms could be about the same size as the bedrooms. Or, the bedrooms could be larger, with small main living spaces.

It’s likely a king bed will fit comfortably in at least one of the bedrooms. The living area likely will accommodate a sofa, a couple of chairs and two or three side tables. The dining area usually is large enough for a kitchen table and four chairs.

Given these are basic items, a 1,000-square-foot apartment also usually will accommodate accessories, such as bookshelves, TV consoles, dressers and other furnishings.

A 1,000-square-foot apartment generally accommodates a family of four or less.

The benefits of living in 1,000 square feet

When considering a 1,000-square-foot apartment, there are many benefits to choosing an apartment of this size.

You’ll have extra space for storage

In a 1,000-square-foot apartment, you could find yourself with plenty of storage space. For instance, if you plan to use the second bedroom as an office or guest room, you can use that bedroom’s closet for storage.

Plus, you can put furniture in there to use as storage, such as bookcases, chest of drawers and armoires.

You could save on utility costs

Choosing a 1,000-square-foot apartment could help keep utility costs in check. Having a smaller floor area means less work keeping it warm or cool enough, which reduces the cost of your electric bill. Fewer windows could help, as well, since you can keep curtains closed in the winter to keep warm air in and help prevent cold air from escaping during summer.

Use effective interior design to maximize space

Once you start moving into a 1,000-square-foot apartment, the rooms may start to feel smaller. But you can take steps to prevent that from happening with the right home designs.

For instance, decorating with lighter colors can reflect light and make the rooms feel bigger. If the walls are already white or a light color, just add pops of color through accessories like area rugs, throw pillows and artwork.

While you want to maximize the storage space in your apartment, don’t try to cram too many furnishings into the rooms. For example, choose a large sofa, chair and coffee table instead of several chairs, a loveseat and side tables.

Adding baskets also can help keep your apartment decluttered, so you don’t feel like your stuff is overtaking the place. Baskets are great catch-alls for books, magazines, papers and other items in the living room.

They also serve as a good storage spot for towels if you don’t have a lot of cabinets in the bathroom. Throwing toys in your child’s bedroom also can make clean-up quick and easy.

Turn 1,000 square feet into your perfect living space

For many people, 1,000 square feet may seem like a small apartment while, for others, it may seem like more than enough square footage. Regardless of your circumstances, you can make 1,000 square feet your perfect-sized property with the right furnishings and home designs in each of the rooms.

Source: rent.com

Apache is functioning normally

We all know about the marvels of Washi Tape. The once cult-followed and nearly impossible to find Japanese tape is now ubiquitous in the blogging world. It is the DIYer’s dream.

And while it’s been well-documented that I am not DIY friendly, this is an idea that I might actually steal: Washi Tape frames! We’ve all probably seen a version of washi tape frames floating around the blogosphere. But there are three specific things I love about this one.

First – the mix of colors. The peach is the perfect pop against the black & white photos. The second is the various sizes of the prints. It creates a perfectly balanced vignette.

That balance is further enhanced by the use of the washi tape to create geometric patterns. That’s way more interesting and fun than a regular old square! I’ve got those unframed pieces hanging in the Apartment 34 office. 

Maybe I need to try to flex my mini-DIY muscle!

For our entire DIY archives click here.

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Source: apartment34.com