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Apache is functioning normally

July 27, 2023 by Brett Tams

There are many incremental tasks to complete as you prepare to sell your home, but a successful transaction starts with looking at the big picture. Before you take a single interior photo or begin painting your trim, it’s crucial you take a moment and assess your situation properly. Are you emotionally ready to sell your home? Will you use a real estate agent? Is it a good time for you to sell? Let’s examine the factors that go into answering these questions.

Am I Ready to Sell My Home?

Whether you are sad to leave behind a family home full of memories, or can’t wait to get out and into your new upgrade, selling a home can often be an emotionally charged process. There are many considerations to take into account before you decide to sell, which should be done as dispassionately as possible.

Once you’re confident you truly want to sell, it’s still important to not be overly swayed by the attachment to your home during the selling process. Homeowners should try to contain their emotions as much as possible and treat the process like any other business transaction in order to ensure a smooth and timely sale.

An important way to minimize your feelings as a factor in preparing to sell a home is by trying to see things from a prospective buyer’s point of view:

What types of buyers are likely to be interested in your home and neighborhood (e.g., large families with children, single professionals or retired couples)?
How can I make my home more desirable to them?
What are their long term goals and concerns?

Aligning your property with the needs of your prospective buyers can help you sell it quickly and for a great price. But remember that other people don’t have the same attachment to your home as you do, so a fair market price may be lower than your own perception of its value.

Timing is another factor to consider in order to sell your home successfully and for the most return. If possible, it can be beneficial to list your home during the most popular times of the year for the average homebuyer. Spring and summer are typically the best times to list, but the optimal selling season ultimately depends on your specific housing market. For example, communities popular with retirees in warm states like Florida or Arizona may see more action in the winter. A real estate agent can help you determine your area’s prime selling period, or you can do the research yourself. The same goes for conducting the sales process itself.

Real Estate Agents vs. For Sale by Owner: Which Is Better?

If you have a timing plan and are ready to get your home on the market, one of the first decisions you need to make is whether to go it alone, or use a real estate agent. Both methods have their own pros and cons — Let’s examine each option.

Using a Real Estate Agent to Sell Your Home

Real estate agents take a commission, which can typically be 5 to 6 percent of the sale price of your home. And for the average seller who does not make a living in the real estate industry, the choice to use an agent in exchange for this commission can not only save precious time, but also increase the amount received for the home, making the investment well worth it in many scenarios.

The right agent will help you with everything from setting the most advantageous selling price, marketing your home (including photography, videos and staging the property to look its best), arranging showings and open houses, negotiating with interested buyers, to helping you choose the right escrow company and getting the transaction closed without any snags. They are also ideally there for you as an ally and asset if any issues or questions arise during the selling process. They understand all of the required paperwork and typically have contacts and other resources that can help you solve nearly any possible problem. They can also strategically provide a buffer between you and potential buyers, and will have the experience and knowledge to ensure that you only invest your time engaging well-qualified buyers.

If you want help locating the perfect agent to sell your home, you can be matched with one in your area through Pennymac Home Connect, a nationwide network of top-producing real estate agents. You may even be able to earn $350 to $9,500 back at closing if you buy or sell a home with an agent you met through the network.*

For Sale by Owner

Real estate agents can be extremely helpful but it is also possible to sell your home on your own, a process commonly known as “for sale by owner.” In order to sell your home yourself, you will need to:

Do your own research in order to come up with a suitable selling price.
Manage all of the marketing, including getting your home on the Multiple Listing Service (MLS).
Show the house and interact with prospective buyers on your own.
Negotiate the sale with the homebuyers and/or the buyer’s real estate agent.
Ensure you have the proper documentation and that you adhere to all of the relevant laws and regulations.

If you are not going to use a real estate agent, it’s still wise to consider hiring some help in the form of a real estate attorney to make sure that the transaction goes smoothly, including setting up a real estate escrow account.

A Checklist for Selling Your Home

Now that you have determined which method you want to use to sell your home, it’s time to get to work. A smooth, successful home sale can be influenced by many factors, some large and some small. Fortunately, you can do many improvements yourself, with time and sweat being your biggest investments. Here are some moves you’ll want to consider in order to get ready to sell your home.

Interior Updates and Curb Appeal Improvements

For interior improvements, consider painting walls in contemporary, neutral colors and upgrading the lighting, even with small investments like additional lamps or upgraded light bulbs.

To boost your home’s “curb appeal” — the first impression and level of attraction prospective buyers feel for your home from the street before they step inside of it — consider making some inexpensive improvements to your home’s exterior and yard such as pressure washing, painting trim, and landscaping additions and touch-ups. Such simple beautification efforts can help improve your chances of attracting the right buyer.

Clean and Stage Your Home

You’ll want to thoroughly clean your home. A muddy hallway, messy garage or dusty bedroom will only reduce its appeal. Keep rooms as orderly and as uncluttered as possible for all showing appointments. Use a storage unit to temporarily house extra or unsightly items if necessary — that old recliner may be quite comfy, but it could be a ratty eyesore as well. Your real estate agent will likely have a professional home stager you can hire to make your home look its most appealing to buyers. And you can always ask a stylish friend to help you with organizing or decor. In either case, a second set of eyes is always helpful.

Provide Numerous High-Quality Photos

The right photos can make or break your listing. Most agents work with professional photographers, or you can hire one on your own. Ask a friend or neighbor for objective input when selecting pictures and don’t be afraid to speak up if you don’t like the photos used in your listing.

Set a Realistic Price

Setting a price for the home you are selling involves getting input from numerous sources. Start by checking area comps, or comparable sales, and get price suggestions from a couple of real estate agents. Consider all of these numbers, and add in the factors that make your home unique — in both positive and negative ways. Don’t use a property tax assessment since that figure is typically much lower than the current market price.

Still not sure how to price your home? Appraisals will determine how much money a lender will lend, so you should get a professional appraisal before listing your home. Appraisals are not inexpensive, but in certain markets and situations they could save you a lot of time, and that easily translates into saved money.

Create a Plan to Accommodate Showings

It’s a bad idea to conduct ad hoc showings. For all intents and purposes, you’re putting on a sales presentation so you should always put your best foot forward. Having a plan means adequately preparing for your customers (i.e. the potential buyers), while also minimizing the chances something could go wrong during the showing. Some important points to consider when scheduling a showing:

How much time does your work schedule and family/personal life allow for?
Do you have pets that you will need to remove from the home?
How much lead time will you need from your agent to ensure that it is in show-ready condition?
If you have small children, how will you manage their needs throughout each showing?
How will you deal with the unexpected, such as last minute viewing appointment changes, prospective buyers that show up early, or inclement weather concerns?

How to Sell Your Home Fast

No one wants to have their house sit on the market forever, but if your move is being influenced by a time-sensitive factor like a job change, a family situation, or financial issues, you may need to sell your house as quickly as possible. Here are our best tips for speeding up the home sale process.

Have your own home inspection: One part of the homebuying process that can drag on for a long time is addressing the findings of the buyer’s home inspection. Before you even list your home, you can hire an inspector yourself. Use their findings to create a to-do list, or factor the cost of repairing any issues into your sale price. This will allow you to start one step ahead of your potential buyers’ negotiations.
Accommodate (but also vet) potential buyers: Offer buyers whatever you can, whether it is showings on short notice or flexibility with their closing date. However, don’t act too much in haste to sell and don’t sign contracts with unqualified buyers. Spending time in limbo with a buyer whose offer might fall through can waste valuable time and miss connections with more qualified buyers.
Spread the word yourself: Ask for help from your friends, family, and other contacts. Share your listing on social media, carry flyers with you at all times and even consider hosting events like an open house party.
Consider offering incentives: Paying all or part of your buyers’ closing costs, a home warranty and flexibility with closing are all ways that you can attract potential buyers.
Consult with a lender: Knowing what financing options are available to potential buyers can help you market your home. For example, are there low down payment options available?

Ensuring a Successful Home Sale

Our final, and perhaps most important, tip for selling your home is to make sure that you prepare mentally and financially for the many possible offers and issues you may encounter. What if you don’t get the price that you want? If you are trying to sell your home fast, what if it sits on the market for a long time? If you can come up with contingency plans for these worst-case scenarios, you will be ready to handle anything that you encounter in the home selling process.

Being prepared is the key to success in the home sale process, from your first showing appointment to the closing of the deal. If you’d like additional insights into selling your current home or buying your next one, consult with a Pennymac Loan Expert today.

*Pennymac Home Connect is offered in partnership with HomeStory Real Estate Services, a licensed real estate broker. HomeStory Real Estate Services is not affiliated with PennyMac Loan Services, LLC, and PennyMac Loan Services, LLC is not responsible for the program provided by HomeStory Real Estate Services. Obtaining a mortgage from PennyMac Loan Services, LLC is optional and not required to participate in the program offered by HomeStory Real Estate Services. The borrower may arrange for financing with any lender.

Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a referral fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.

HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. PennyMac Loan Services, LLC is not responsible for the reward. The reward is valid for 18 months from the date of enrollment. After 18 months, you must re-enroll to be eligible for a reward. Offer subject to change or cancellation without notice.

PennyMac Loan Services, LLC ( Lender NMLS 35953 ) does not perform any activity that is or could be construed as unlicensed real estate activity, and PennyMac Loan Services, LLC is not licensed as a real estate broker. Agents of PennyMac Loan Services, LLC are not authorized to perform real estate activity.

PennyMac Loan Services, LLC loans subject to credit approval. Offer subject to change or cancellation without notice.

The trademarks, logos and names of other companies, products and services are the property of their respective owners.

Source: pennymac.com

Apache is functioning normally

July 27, 2023 by Brett Tams

For the past few months, I’ve been moving toward a system of paperless personal finance. In this guest post from Paul Lussier, he explains his own automated system.

Lately J.D. has been talking a lot about automating his finances. In my world (that of high-tech, software, and large computer systems), we strive to automate as much as possible. By doing this, we hope to minimize error by reducing human interaction, leveraging the power of the computer for what it’s good at, leveraging the power of people for what we’re good at.

In other words, we emphasize the strengths of both the computer and the human. Computers are really good at doing the tedious, mind-numbing, soul-sucking repetitive tasks which humans hate. Humans are far better at reasoning, logic, and creative thinking than computers.

I’ve applied this understanding to put my finances on auto-pilot. I use the automated computer systems at my bank to move money around between different accounts, pay bills, earn interest, credit-card points, etc. Though the following system may seem complex, it’s really fairly simple once it’s set up. (This method also works nicely with the recent post about building wealth with a “virtual employer”.) Here’s how my system works:

Consolidate your bank accounts
I’ve consolidated all my accounts at USAA Federal Savings Bank. Their online banking site and customer service are unparalleled. Choose a bank with which you are comfortable, and which does not charge outrageous fees or otherwise “nickel & dime” you to death.

If you use credit cards, get a credit card with this bank and stop using the others. If your bank and credit card are with the same institution, you can easily set up automated payments from your checking/savings accounts to your credit card to occur on the due date. This will virtually eliminate all late fees! Consolidating bank accounts makes life simpler.

Set up overdraft protection
Some banks allow this — others don’t. My bank does. Using your savings account to protect your checking account does mean that you may lose some interest on your savings. But it’s better than having to pay back the overdraft amount plus interest, plus a possible late/finance charge on top of that. In some cases you can set up a credit card to be the overdraft protection, but this just feels wrong to me.

Set up accounts specifically for bills
This means you actually have two checking and two savings accounts. One pair is for Daily Use — this checking account is the one from which you buy gas, groceries, take out cash at the ATM, etc. This primary savings account is where you stick “extra money” (more on that later).

The Bills accounts are where you start budgeting. I struck on this idea when we had some major financial re-organization a year or so ago. I opened a new savings account online. The process took five minutes. I calculated what our bills cost, and then set up an automatic transfer from my Daily Use checking account to the Bills savings account to occur on the dates when I get paid. Now I’m budgeting this way for all my bills that occur less than monthly, and I’m earning ~4-5% interest on the money as well!

Sign up for direct deposit
Have your check directly deposited to your Daily Use checking account. In most cases, that money is available one business day before payday. Compare that with the hassle of having to go to the bank, deposit the check, and have it clear. That whole process, if you’re lucky, takes two days, which means it takes three days longer than with direct deposit. Think of the amount of interest you’re losing and the amount of time required to go to the bank!

Pay yourself first
For many people, paying yourself first is the starting step. But with this system, you need to set up the infrastructure to handle paying yourself first. Set up an automatic transfer from your Daily Use checking account to your Daily Use savings account on each day you get paid. It doesn’t need to be big: $10/week, $100/month, $50/paycheck — whatever you think you can afford. Remember, if you need this money, it’s just a transfer away. But the key is to make it more painful to get at.

Pay your bills second — automatically
Now that you’ve set up the infrastructure, determine which bills you want to budget for. Set up an automatic transfer for that amount from your Daily Use checking account to your Bills savings account on the day you get paid. (You’re moving the money to savings because it will earn a higher interest rate than in a checking account.) Consider putting it in a certificate of deposit which may earn a higher interest rate.

I pay my bills with debit and credit cards, and sometimes with my bank’s automated bill-payment system. (Different vendors have different requirements.) Again, this allows me to consolidate things. Looking at my credit card statement, I can see most of my bills in one place. Also, I don’t have to worry about variable payments. For example, my cell phone bill fluctuates from month-to-month based on usage, text messages, etc. This makes it difficult to set up an automated payment from my bank. Charging the bill to my credit card solves this problem.

If you have a Bills checking account, you can use the associated debit card to pay bills, too. I use the credit card, since my rewards credit card provides me twice the return compared to the rewards debit card. Using the credit card also provides me with some amount of protection in the case of identity theft.

Schedule recurring transfers
Now that all your accounts are in place, it’s simply a matter of setting up transfers for the correct times and amounts from your Bills savings account to your Bills checking account. Though this may sound complicated, it’s not.

It’s true that the process of transferring between all these accounts works best when the bills are large and infrequent. For example, I have a variety of insurance bills, none of which occur more often than quarterly. By totaling all these different bills, I’m able to use this system to not only budget these expenses, but also earmark certain monies specifically for them all while earning interest on them.

For regularly occurring monthly expenses (like electric, cable, cell phone, etc.), I have the biller charge my credit card. This makes sure the payment is never late and earns me a bonus reward. The credit card bill itself usually gets paid directly out my normal checking account because that’s where the money happens to be.

Another thing I like about the separate checking/savings account set up is that if there are billers who need to draft a checking/savings account, I can completely isolate what they have access to. I can also make sure that the money is sitting in savings until the last possible moment but gets automatically transferred over in time to pay the bill without incurring a late fee.

Putting the system into practice
This is my first year using this set up. So far I like it. As I continue to refine and tweak it, however, I’m finding a few rough edges. For example, I can schedule an automatic bill pay for an indefinite amount of time in the future, but I cannot schedule a transfer between savings and checking to occur on a date greater than one year from today’s date.

Also, the scheduling of automated transfers is not as granular as with the automated bill pay system. I can set up transfers to occur weekly, 1st and 15th of the month, every two weeks, every month, or every two months. I’d really like to be able to set up a transfer for the 15th and last day of the month (when I get paid) and I’d really like to set up transfers every three months (quarterly) on a given date.

I hope you find this system useful as I have!

Thanks, Paul. I, too, continue to refine my paperless personal finance system. It’s a matter of discovering which accounts work best with which companies. Sometime later in 2008, I’ll describe my current setup.

Final note: Paul sent me an e-mail the other day. “Ironically,” he said, “I just finished The Automatic Millionaire. It was great read. I was amused to read so much of what I already do on my own. Most of what I do here is covered in much greater detail in that book.”

Source: getrichslowly.org

Apache is functioning normally

July 27, 2023 by Brett Tams

When it comes to our health, it is essential to obtain the best quality care possible. For some, employer sponsored health insurance coverage is an option for this. But for others, it is necessary to go out into the market and shop for either an individual or a family health insurance plan.

Because there are many options to choose from, it can be difficult. Therefore, it is important to have a good understanding of how health insurance works, and which options are available to you.

Then, you can determine which may be the best choice for you. We understand that any type of insurance purchase, from finding the best car insurance companies, best life insurance companies, or companies that offer burial insurance for seniors, can be a daunting task, that is why we are here to help you!

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Types of Health Insurance Plans

In its most basic sense, individual health insurance coverage is the alternative to purchasing via one’s employer on a group basis and can be purchased on either an individual or a family basis.

With an individual policy, the individual who is insured is fully responsible for paying the policy’s premiums. Therefore, if the person stops paying, the coverage will typically lapse (following a grace period).

There are several forms that individual health insurance can take:

Fee For Service / Indemnity Plans
HMO (Health Maintenance Organization)
PPO (Preferred Provider Organization)

Fee For Service Plans

A fee for service plan – also referred to as an indemnity plan – is a type of policy where the insured individual pays a predetermined percent of the cost of his or her health care services, and the insurance provider pays the remaining amount.

With this type of coverage, the insurance company does not have any type of contractual agreement with medical providers or hospitals, nor does the insurance company have a “network” of providers that the insured must use in order to obtain benefits.

Understanding HMOs and PPOs

Managed care plans are a different way to obtain health insurance services. These types of plans are able to contain costs by taking certain measures. One way of doing so involves controlling the behavior of the plan participants. This refers to both the members that are covered by the plan, as well as to the medical service providers.

A managed care plan will typically have the following basic characteristics:

Controlled access to providers
Case management
Preventive care
Risk sharing with the providers of the services
High quality of care

Some types of managed care plans include Health Maintenance Organizations (HMOs) and Preferred Provider Organizations (PPOs). These plans may also be self-funded, dual choice, or indemnity.

Health Maintenance Organization (HMO)

A health maintenance organization, also referred to as an HMO, is a type of prepaid group health insurance plan that entitles its members to services of participating physicians, hospitals, clinics, and other types of health care providers. The emphasis in an HMO is on preventive care. In an HMO, the members are required to use contracted health care providers that are listed within a certain “network” of providers.

Health Maintenance Organizations represent what is known as “pre-paid” or “capitated” insurance plans in which individuals or their employers pay a fixed monthly fee for services, instead of a separate charge for each visit or service.

The monthly fees will typically remain the same, regardless of the types or levels of services that are provided. The health care services that are provided through an HMO are provided by physicians who are employed by, or under contract with, the HMO. HMOs can vary in design. Depending on the type of HMO, the services may be provided in a central facility or in a physician’s office.

Health Maintenance Organizations are the oldest form of managed care. They were created in the 1980’s as an alternative to indemnity insurance. HMOs are highlighted by their focus on preventive care and efficiency measures. And, HMOs usually offer lower rates on health care services than fee for service type of plans.

Although there are many variations of HMOs, these plans overall will typically allow members to have lower out-of-pocket health care expenses. However, HMOs may offer less flexibility in the choice of physicians or hospitals than other types of health insurance plans. With an HMO, individuals will likely have coverage for a broader range of preventive health care services than they would with another type of plan.

In addition, with an HMO, an individual typically won’t have to submit any of their own claims to the insurance company. It is important to keep in mind, though, that an individual will likely have no coverage at all for services that are rendered by non-network providers or for services that have been rendered without a proper referral from their primary care physician.

Because HMOs focus on preventative care, they seek to reduce health care costs by identifying and treating illness early on, before it becomes a more serious and costly situation. HMO plans usually do a good job of covering routine checkups and vaccinations. In addition, they frequently offer general well-being incentives such as smoking cessation or weight loss programs.

The HMO functions as a health care network. Aside from emergencies, a Primary Care Physician (PCP) serves as the primary and initial point of contact for all health concerns. The Primary Care Physician is oftentimes referred to as being a “gatekeeper.”

The PCP then refers participants to appropriate specialists if they are needed. If an HMO member opts to go to a doctor or hospital that is outside of the HMO network of care providers, they will have to pay the fees on their own. The intent of having a primary care physician is to prevent unnecessary doctor visits, thus saving money for the HMO.

With HMOs, premiums are typically required to be paid monthly. Since HMOs are considered pre-paid health care, participants usually won’t have to pay a deductible, although the plans do vary.

When a person visits a doctor, goes to the hospital, gets a prescription or receives other health services, they will have to make a small co-payment that will typically range from $10-$25 in most cases.

Preferred Provider Organization (PPO)

A preferred provider organization, or PPO, is a network of medical providers who charge on a fee-for-service basis, but that are paid on a negotiated, discounted fee schedule. As a member of a PPO, individuals will be encouraged to use the insurance company’s network of participating doctors and hospitals.

These providers have been contracted to provide services to the plan’s members at a discounted rate. Individuals in a PPO won’t be required to pick a primary care physician and they will typically be able to see doctors and specialists within the network at their own discretion.

The members of a PPO will likely have an annual deductible to pay before the insurance company begins paying their claims in the PPO. Once the deductible has been met, PPO participants will be required to make a co-payment for most doctor visits. Some PPO plans may also require that participants cover a percentage of the total charges for their services that have been rendered.

With a PPO plan, services rendered by an out-of-network physician are typically covered – but at a lower percentage than services that are rendered by a network physician. Seeing an out-of-network provider, then, can become costly.

For example, if an individual visits an out-of-network provider for services that total $500, the PPO plan may cover the charge at only 60% of the amount that a network provider would charge for the same service. If a network doctor would accept $250 as payment in full, this means that the insurance company would pay only $150, and the remaining $350 would come out of the PPO member’s pocket. Additionally, if a person sees a provider outside of the plan’s network, he or she may have to pay the charges up front and then submit their own claim for reimbursement.

PPO plans do offer more flexibility in choosing providers than do HMOs. For example, they do not require an individual to maintain a primary care physician, nor do they require them to use a primary doctor as a gatekeeper to other care. This means that a participant in a PPO can seek care from a specialist without having to first get a referral.

While it is easy to confuse HMOs and PPOs, there are some key differences. For example, PPOs utilize a networking method similar to HMOs, but with a much larger network, and a smaller monetary penalty for seeking care outside the network. As long as the provider is part of the network, the benefits are the same. In addition, in a PPO, the participants are free to use any provider that they choose, but they will likely have to pay more for it.

Point of Service (POS)

A point of service plan (POS) combines the formulas that are used by HMOs and PPOs. Like an HMO, a primary care physician must refer a person to an in-network specialist. When receiving care from a provider that is within the network, the patient is responsible for a small co-payment, but there is no deductible.

When a participant goes outside of their network, a POS plan acts more like a PPO. A POS plan will allow a person to self-refer outside of the network. In this scenario, the participant must first pay the deductible, then a co-insurance amount. In this way, the POS plan offers a strong financial incentive to remain within the network, however, it does not forbid it the way that an HMO would.

Other Ways to Pay for Services

Throughout the years, there have been other ways created to pay for health care services that are not covered by health insurance coverage, but that work in conjunction with health insurance policies. Some examples include Medical Savings Accounts and Flexible Spending Accounts.

Medical Savings Accounts (MSAs)

Medical Savings Accounts (MSAs) were typically combined with a high deductible medical insurance policy. The MSA offers a way to save money on a tax-deferred basis whereby funds in the account can be withdrawn tax-free and used for paying qualified health care expenses that are not covered by the health insurance plan. Withdrawals from an MSA can also be used towards paying the deductible expenses on the employee’s health plan in a given year.

Flexible Spending Accounts / Flexible Spending Arrangements (FSAs)

Flexible Spending Accounts (FSAs), also referred to as flexible spending arrangements, are a type of tax-advantaged financial account that can be set up through a cafeteria plan in the United States, much like a Health Savings Account, or HSA.

An FSA can be set up by an employer for an employee. The account allows the employee to contribute a portion of their regular earnings to pay for qualified expenses such as medical care of dependent care costs.

One of the primary benefits of an FSA is the fact that the funds that are contributed to the account are deducted from the employee’s earnings before they are made subject to payroll taxes. Therefore, the contributions that are made to an FSA can substantially lower an employee’s annual income tax due. There are maximum dollar amount limits as to how much can be contributed to an FSA account each year.

How and Where to Get the Best Quotes

When obtaining health insurance quotes, it is usually best to work with a company that has access to more than just one insurer. This is because you will be able to get many competing quotes – oftentimes on very similar coverage.

If you’re ready to shop for top health insurance providers, you can get you all of the information that you need – directly from your computer. No need to meet in person with an insurance agent or to go through the hassle of the HealthCare.gov website. In order to get the process started, all you have to do is simply use the form on this page. You can get your quotes and speak with a health insurance specialist about your specific needs.

Source: goodfinancialcents.com

Apache is functioning normally

July 27, 2023 by Brett Tams

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3

Brooklinen Pink Checkered Bath Mat

Don’t neglect color in the bathroom. This checkered bath mat reminds us of the “perfect day” pink gingham outfit seen in the movie. And, it’s not all about aesthetics: Brooklinen says this cozy mat is quick drying.

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4

Seashell Barrel Chair

4

Seashell Barrel Chair

Neutral couches, no problem. Throw in a hot pink accent chair to instantly perk up your space. Plus, the scalloped seashell edges and gold metal legs add another level of elegance.

5

Eaoundm Wavy Mirror

5

Eaoundm Wavy Mirror

Funky and playful, this decorative mirror feels like something you’d actually find in your Barbie Dreamhouse. Can’t you picture re-applying your pink lip here?

6

Homesick Barbie™ Dreamhouse™ Candle

6

Homesick Barbie™ Dreamhouse™ Candle

Now 30% Off

It’s decided: The scent of the Malibu dreamhouse is that of sweet peony, rose and jasmine, plus uplifting notes of lemon and sandalwood. As with all Homesick candles, this soy wax blend should burn between 60 and 80 hours.

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7

Pink Shag Rug

7

Pink Shag Rug

Now 47% Off

Pink is having its moment in the bedroom, and this fluffy rug instantly adds texture and a chic, rose-colored hue to your abode. According to the 30,000 five-star reviewers, this pick is super soft and easy to clean.

8

Disco Ball Planters

8

Disco Ball Planters

Barbiecore isn’t limited to bright pinks, it’s about fun, feminine and over-the-top decor — like this disco ball hanging planter. This shimmery pick, available in rose gold, gold or silver, creates an instant focal point. Note: It can be hung with an included chain or
macramé rope.

RELATED: Best Indoor Hanging Planters to Fill Your Home With Greenery

9

Flaviana Modern Desk

9

Flaviana Modern Desk

Working from home is more fun with a raspberry pink writing desk — it will inspire creativity to run wild. Are we too bold if we pair it with a hot pink office chair?

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10

Pink Satin Sheets

10

Pink Satin Sheets

Now 20% Off

Sleep as peaceful as Barbie in these bubblegum pink satin sheets. Added bonus: Satin is known for preventing hair from tangling as you sleep, so you’re one step closer to having shiny hair like Margot Robbie.

11

Pink Neon Sign

11

Pink Neon Sign

Now 30% Off

When we think Barbie, heart shapes definitely come to mind — and we are obsessing over this neon heart light (especially considering it’s less than $15). The battery-powered light will add a warm, pink glow to your bedroom or living room.

12

Acrylic Flower Vase

12

Acrylic Flower Vase

Now 24% Off

Barbie girls love flowers (most are pink, duh) and this artsy vase is bringing our childhood dreams to life. According to reviewers, the acrylic curvy vase is super cute and looks just like the pictures.

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13

Retro Stainless Steel Toaster

13

Retro Stainless Steel Toaster

Now 27% Off

Don’t let anyone tell you it’s not worth investing in a pink appliance — I mean, how adorable is this retro pink toaster? It’ll be easy to romanticize cooking your breakfast with this playful, yet functional pick. And, reviewers agree it’s easy to use and clean.

14

Barbie Shoe Prints

14

Barbie Shoe Prints

Etsy is home to a ton of Barbie-inspired artwork, but these preppy prints are a must. Just note that you’ll have to print them yourself — it’ll be worth it, we swear.

15

Glass Storage Cabinet

15

Glass Storage Cabinet

As you fill this storage cabinet with your glassware, books or pantry items, you may just have a flashback to arranging your Barbie dreamhouse. Since there are glass doors, might we suggest filling it with pops of pink decor?

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16

Ruggable Barbie™ Light Pink Doormat

16

Ruggable Barbie™ Light Pink Doormat

Barbie girls are welcome here. Adorned with the official Barbie logo and available in two different colors, this chic doormat makes the best first impression. As with all of Ruggable’s offerings, it’s machine-washable so you can maintain that ’90s aesthetic for quite a while.

RELATED: The Best Doormats to Welcome Guests Into Your Home

17

Etta Avenue™ Feather Lamp

17

Etta Avenue™ Feather Lamp

Your Barbie may have rocked a feather boa or an adorable, pink feather-lined top, so this feather table lamp is perfect for recreating a Barbie-inspired interior. Not to mention, Wayfair reviewers love the look and how easy it is to assemble.

18

Joybird Dreamhouse™ Ainsley Sofa

18

Joybird Dreamhouse™ Ainsley Sofa

Elevate your space with furniture that radiates confidence and creativity, like Joybird’s brand-new Ainsley Sofa in Tourmaline (a vibrant pink shade).

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19

Joanna Buchanan Bright Pink Dinner Napkins

19

Joanna Buchanan Bright Pink Dinner Napkins

The perfect accessory for summer entertaining, these vibrant dinner napkins have Barbie written all over them. Pair the hot pink linen with sparkling napkin rings, like this playful starfish or a pretty pink flamingo.

20

Bayou Breeze Guillen Textured Wallpaper

20

Bayou Breeze Guillen Textured Wallpaper

Your Barbie dreamhouse is located somewhere tropical, right? If not, you can recreate the feeling by installing this pink and green tropical leaf wallpaper in any room.

Associate Lifestyle Editor

Alyssa Gautieri (she/her) is the associate lifestyle editor for Good Housekeeping, where she covers all things home and interior design. Prior to joining GH in 2022, she wrote for publications including ELLE Decor, Chairish, BobVila.com, Unique Homes Magazine and LODGING Magazine, in addition to crafting product copy for home brands like BrylaneHome and VIGO Industries.

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Source: goodhousekeeping.com

Apache is functioning normally

July 27, 2023 by Brett Tams

When it comes time to move, hiring movers is a convenient option that allows for a quick, stress-free experience. Not only can they move your items from one house to another, but they often provide additional services like boxing up your items and even unpacking them in your new place so you don’t have to lift a finger.

As a general rule, you shouldn’t skip tipping movers. They work in the service industry and should receive a tip based on overall service, similar to restaurant workers. Building a tipping budget into your moving expenses can help you show appreciation for the service provided. Here’s everything you need to know about tipping movers.

How much to tip movers

We’re used to tipping between 15 and 25 percent at restaurants, but tipping your waiter is different than tipping movers. Moving companies don’t operate the same way as restaurants and workers don’t rely mostly on their tips to make money. Movers are usually paid by the hour already, making tipping a nice gesture, though not required. However, they’re also working in the service industry like restaurant workers, and it’s generally acknowledged that you should tip service industry workers.

A good rule to keep in mind for general reference is $5 per mover per hour. Or, if you want to use the total moving cost, you can tip between 5 to 10 percent of the total bill for the entire team of movers to split.

Things to consider when tipping movers

Various factors will affect how much to tip movers. Not every move is equal and, therefore, tipping will vary. A half-day move is a lot less work than a two- or three-day ordeal. Here are a few factors that can help you decide how much to tip movers.

How many professional movers are working with you

If there are only a couple of movers that come to help you move an entire house, that means they’ll each be doing a lot of heavy lifting. On the other hand, if you’ve got a big professional moving team with lots of movers to help out, it’s likely their individual workload will be a little lighter and less strenuous.

If you’re looking at it from an individual view, it would be more appropriate to tip the smaller group of movers each a little more than if there’s a large group. You may even want to decide upfront that you’ll tip a certain percentage for the entire move, then divide that amount by the number of movers.

If the movers pack boxes for you

You might hire a professional moving company to do everything for you from beginning to end, including packing all of your things into boxes. This is a time-consuming and strategic process since it requires good organization and additional time to wrap fragile items, place them into boxes in a way that won’t break them and get boxes labeled so they’re easy to unpack.

If movers are packing boxes for you, it’s best to tip them for the extra work! Keep in mind that if you’re moving far away, there are possibly separate crews for packing your belongings into boxes and loading and unloading the truck. You’ll want to check with the moving company to make sure you’re tipping each crew accordingly.

Large or heavy objects

Movers that take care of really big or heavy items have a risky job — they’re careful and strong to make sure they don’t do any damage to the items or to the home as they move things in and out.

When you’re tipping a crew that moves large, heavy furniture, remember that they have a stressful and important task. If they do it well, it will save you from paying for a new item or repairing your home. After all, if piano movers drop a grand piano on the floor, it’s going to do some damage all around. But, a good mover will ensure that doesn’t happen and you can show your gratitude for a job well-done with a tip amount that reflects your gratitude.

Size and number of boxes

No matter how many or how few boxes and belongings you’re planning on moving, it’s going to take at least a few trips in and out of the house to get it all. However, the size and number of boxes can make a difference. Lots of big boxes might seem like it will be quicker and you can take fewer trips in and out to get them loaded. But, if they’re too bulky or heavy, it will take longer to move them as they might require moving slowly or more than one person to lift them.

Opposite that scenario, you might have a lot of little boxes to avoid things being too heavy, and lots of boxes mean lots of trips, even if they’re small and you take a few at a time. You need to find the sweet spot between the size of boxes and the weight of the objects they hold to ensure the movers are efficient.

Distance of the move

A quick local move is very different from a cross-country move. Usually, local moves will take much less time than a long-distance move. And, you’ll likely have the same crew helping you load your stuff from your old place and unload at your new home.

But, if you’re moving across the country, there’s a good chance you’ll work with multiple crews. One crew might pack your items into boxes, another will load your stuff into the truck. A separate crew may transport your items, with a different crew unloading the truck when you reach your destination. That’s a lot of long-distance movers and a lot of time spent helping you. Make sure you factor that in when deciding how much to tip movers.

Length of the move

You can typically expect long-distance moves to take more time. But, there are cases when shorter distances actually take more time. This is dependent on the number of items or boxes you’re moving or if you end up waiting around for one reason or another.

Being unorganized as a customer and not planning anything out can end up taking longer, especially if you have a partner or roommate that you’re moving with. If you constantly have to ask your partner or roommate where something is going and then relaying that information to the movers, it’s going to take a long time to get things settled.

And, if you do end up waiting around at any point, don’t assume you shouldn’t tip your movers for that time — although they may do much, they’re still spending their time there and it keeps them from working on other potential moving jobs that they could make money from. Be considerate of not just the effort, but the total time movers spend helping with your move. They don’t want to stand around for a half day just as much as you don’t.

The overall difficulty of the move

There are other elements to think about when considering how much to tip movers. Keep in mind the difficulty involved for your entire move when you tip movers. The number of rooms, size of the house, flights of stairs and even the weather conditions.

Going up and down multiple flights of stairs in hot weather is not ideal. Even the most hardworking movers will have difficulty with it. Movers expect to deal with some hard scenarios on moving day. But, getting a good tip for extra hard work and great service is greatly appreciated.

How to tip movers

The method of tipping will depend on what you have on hand and the movers. Tipping etiquette is very casual and flexible. Whether you carry cash or keep it electronic, there’s a way for you to tip movers.

Cash tip

Cash tips are almost always the easiest way to make sure the people actually helping with your move get the exact amount you want. When you’re handing the money directly to each crew member, you’re guaranteed that they’re getting the appropriate amount.

Credit card tip

Many companies will allow you to add a tip when you pay for your move with a credit card. Most moving companies will pass the tip along to each moving crew member in some way. But, it also might mean that the company takes a shared percentage.

Cash apps

As we continually move away from cash in our society, cash apps work just as well! You’ll need to see if the movers have accounts on the cash apps you use so you can tip directly. But, most people use the same cash apps, so it’s probably not too big of a barrier.

Contact the moving company

If your move went well, but you pre-paid or forgot to tip your movers, you can contact the moving company. They’ll give you the best option for tipping. And, they should have a record of which crew members moved you so you can ensure the right people are getting a tip from you.

Food

It’s not quite the same as giving money, but most movers appreciate any food you provide! You can provide food as an extra “thank you,” though you should give it in addition to a monetary tip. You can offer smaller snacks and sports drinks. Or, if you’re ready to really good the extra mile, hold a crew lunch and give a meal like pizza or another takeout.

When to tip movers

The best time to tip movers can depend on a few factors. There’s not one “most appropriate” time to tip movers. You’ll have to decide when is the best time for you to tip your movers.

Before you move

If you want to make sure your moving crew does a great job, you can give a tip upfront to motivate the moving team. However, they might provide poor service and you may feel like you gave a larger tip than necessary. Or, they might have done better than you expected and you feel you haven’t tipped enough.

During the move

Especially if your move is long and far and you know you’ll be working with multiple teams, you can opt to tip long-distance movers throughout the process. You’re showing appreciation for the work that’s already been done. And, you’re giving a little extra motivation for the movers to keep doing good work.

You’re also making sure that you tip the right people for the time they work. Some might only work for a few hours, while others are there the entire day. You don’t want to miss the chance to tip if someone leaves earlier than anticipated.

After the move

Tipping after the move is a safe bet because you’ve seen the work from beginning to end. You can gauge how well every part of the process went and tip accordingly.

Tipping is appreciated for a job well done

Tipping isn’t mandatory in the moving industry. But it’s a nice gesture to acknowledge that the moving company did an exceptional job and that you’re grateful for their work. After all, moving is strenuous. And, moving crews a nervous as they handle belongings that aren’t theirs and do a lot of heavy lifting. It’s nice to give them some extra appreciation for helping you through the moving process.

Source: rent.com

Apache is functioning normally

July 27, 2023 by Brett Tams

No, you may not have cash with that…

Only 42 percent of refinances carried out during the first quarter resulted in cash out, according to the latest “Cash-Out Refinance Report” from Freddie Mac.

That’s the lowest amount since the first quarter of 2004, well below the 55 percent seen in the fourth quarter of 2008, and nowhere close to the near-90 percent levels seen between 2005 and 2007.

“In the past two quarters, about $32 billion in home equity was cashed out by homeowners when they refinanced their home mortgage,” said Amy Crews Cutts, Freddie Mac deputy chief economist, in the report. “This is the least we’ve seen over two successive quarters in the past eight years.”

Of course, it’s not by choice, but rather the result of slumping home prices that have sucked equity dry in scores of households across the nation, coupled with more stringent underwriting guidelines that limit things like cash-out.

On a positive note, half of the borrowers who refinanced during the first quarter now enjoy mortgage rates about 1.25 percent below the old rates.

“The payment savings from ‘rate-and-term’ refinancing done during the quarter is about $160 a month on a $200,000 loan and in aggregate this adds up to about $2.5 billion in extra spending cash in the pockets of those homeowners to spend over the coming year,” said Freddie Mac chief economist Frank Nothaft.

The report also noted that 58 percent of prime borrowers who refinanced a conventional, first mortgage either kept the same principal balance or reduced it, up from 45 percent a quarter earlier.

Borrowers also rolled second mortgages into first lien balances when they refinanced, likely spelling major relief for the holders of the high risk loans.

“In the fourth quarter, $4.7 billion in second-lien debt was consolidated, increasing to $7.0 billion in the first quarter of 2009,” Cutts said.

“Because second liens generally carry higher interest rates, the consolidation of $11.7 billion into a lower-cost first lien provides about $200 million in interest savings over the next year to these households.”

So this is all pretty much good news; borrowers are no longer able to rely on their homes as ATM machines, let’s just hope they can pay their bills another way.

(photo: quinn.anya)

Source: thetruthaboutmortgage.com

Apache is functioning normally

July 27, 2023 by Brett Tams

Financial goals are meant to help you live your best life, whether that means helping you buy your dream home, affording your child’s education, or taking your mother on a cruise for her 60th birthday. To help you get there, it’s vital to have a budget that works for your situation and aspirations.

Having a budget can help you see where you are financially, know whether you’re on track for reaching your goals, and identify ways you can adjust your spending.

Once you have a budget nailed down — and the math is not as scary as some people think — you can reconfigure and adjust. After all, a budget is meant to work for you so you can reach your money goals, not the other way around. It can evolve right along with you, your needs, and your goals.

Why Is Creating a Budget Important?

Creating a budget is important because it allows you to see where your finances stand: You see how much money is coming and how much is going out, plus what it is being spent on.

It can provide you with a snapshot of your financial life, and it can illuminate any issues you need to address. Think about it: If you don’t know where your money is going, you can easily spend more than your means, leading to more debt than you can handle. Not budgeting can also prevent you from reaching your goals, such as having enough in retirement savings or being able to afford that kitchen renovation you’re pining for.

Although some people think a budget will cramp their style, the truth is that a budget doesn’t have to hold you back, restrict you from fun, or sour your lifestyle. It can eventually set you free from the financial burdens that are keeping you from setting and reaching your ultimate life goals.

Next, learn the step-by-steps.

💡 Quick Tip: Make money easy. Enjoy the convenience of managing bills, deposits, transfers from one online bank account with SoFi.

1. Determine Your Financial Goals

Setting financial goals is a crucial first step to being more intentional with your money management tactics. As in, having a purpose can give you more motivation to stick to your budget and get you on your way to creating smart financial goals that suit your life.

How to set financial goals? Start by taking time to come up with a clear idea of your short-term and longer-term aspirations. What kind of things could you dream about? Anything that’s ultimately important to you could be a financial goal example, including:

• Having $1,000 in the bank

• Hosting an amazing 30th birthday party for your partner

• Buying a home

• Starting a family

• Getting some new wheels

• Taking a dream vacation

• Getting out of credit card debt

• Starting your own business

• Planning for retirement

• Establishing and maintaining an emergency fund.

2. Calculate Your Income

Before allocating money for various spending categories and goals, you need to know how much money you have to work with each month. Calculate your after-tax income — you can look at your paystub and/or other earnings from your side businesses or second job. Or maybe you are the lucky holder of an investment account that generates dividends. Perhaps you regularly receive bonuses or tips at work. Add it all up.

3. Review Your Expenses

To make a solid, workable budget, you also need to know exactly how much money is typically going out. Pull together all your financial statements and look at how much you typically spend per month in the following budget categories:

• Loans (such as student or car loan payments) and debt (including credit cards)

• Insurance premiums

• Housing

• Utilities

• Monthly food expenses

• Childcare, child support, or related family obligations

• Transportation-related expenses

• Healthcare

• Savings/investments (for instance, 401(k) or IRA automatic savings deductions).

In addition, think about some other spending categories that are more about discretionary purchases. You can also track:

• Dining out (even those lattes to go)

• Entertainment, such as movies, books, concert tickets, and streaming services

• Personal care (manicures, yoga classes, etc.)

• Travel

• Gifts or treating friends to birthday drinks or dinners

• Non-essential clothing, electronics, home furnishings, and any other fun things you might go shopping for.

As you gather this information, you may want to look at a couple of months’ worth of records. For example, your credit card bill may vary considerably, so averaging a few months will give you a more realistic picture than checking a single month.

Once you have an idea of what you spend, it’s time to take a look at where you may be able to make adjustments. Many people look at their spending as “needs” versus “wants.” A need is something required for basic existence, while a want is discretionary spending. Needs also include debt payment, so if you have a student loan or similar monthly expenses, include that in the need category.

Also consider looking at each spending category in terms of fixed and variable expenses. For instance, your mortgage is a fixed expense since it typically won’t change from month to month, whereas entertainment would be a variable expense since it can change. Don’t forget to look at occasional expenses — like semi-annual car insurance payments — so you can set aside money in your budget each month to account for this expense.

4. Choose Your Budgeting Method

Subtract your monthly expenses from your monthly income. How are you doing? If there’s money left over, it means you may be able to meet your financial goals. Otherwise, you may need to either cut your expenses a bit or earn more money (or try a combination of both).

Whichever direction your money is trending in, you can benefit from a budget to get your cash aligned with your goals and provide guardrails for your spending and saving.

While there are a bunch of budgeting methods, what’s most important is to find an organizing principle that works for your personal and financial style. Some options to consider:

The 50/30/20 Budget Rule

The 50/30/20 budget rule breaks up your budget using the following percentages:

• 50% on essential expenses. This category could include housing costs, utilities, car payments, debt payments (student loans, credit card minimums due, etc.), education costs, food, basic clothing, childcare, and medical expenses.

• 30% on discretionary expenses. Your discretionary expenses could include shopping, entertainment, personal care, travel, and other expenses that may not necessarily be considered essential.

• 20% toward your goals. This amount of money can go into savings and investments as you work toward things like an emergency fund, a new car, retirement, and/or your child’s college education.

Recommended: Discretionary Income Explained

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The 70/20/10 Budget Rule

The 70/20/10 rule is another budgeting method. It’s similar to the 50/30/20 one but allocates more money toward your needs (70%) and less to the wants and savings areas. This budget can be a good variation for those who are just starting their careers or anyone who lives in an area with a high cost of living.

Zero-Based Budget

The zero-based budget system gives every single dollar a purpose so that every bit of your income is accounted for. You start with your monthly income then keep subtracting expenses (even savings or a sinking fund counts here) until you get to zero. This system can help you be more mindful since you know how your money is allocated.

The Envelope Budget System

With this technique, you write the name and cash amount you have for each spending category for a month. For example, you allocate $2,000 for housing for one envelope, and $600 for food in another. You can only spend the allocated amount in each category.

If there is no more cash in the envelope but the month isn’t over yet, you will need to wait until the next month to replenish it or borrow from another category and spend less there. For instance, if you need cash for an insurance premium that went up, you could save on streaming services by dropping a platform or two while you adjust your budget.

This method can be adapted to use debit card payments. You don’t have to literally only use cash.

5. Make Adjustments

A budget is a dynamic, living entity. Some months may be more expensive than others. For instance, you might have an emergency one month (your laptop dies) and wind up spending more (or even going into debt) to make ends meet. Life happens: use these situations to learn and readjust.

You can also look for trends in your money. If you find you are living paycheck to paycheck, you might find ways to economize (such as getting a roommate) or to earn more money.

After using your new budget plan, you should review and update it regularly. You may need to do it more often at the beginning of your budgeting journey when you’re getting used to looking at your finances in a new light. Still, it is typically useful to review your spending at the end of each month to see if your budget is still working for you. If not, then take the time to see what may be happening and tweak your spending as necessary.

Another reason you may want to make adjustments is if your life situation changes, such as you have a baby or get a divorce. Or your income may have gone up, so you will need to think strategically about how best to allocate those dollars to help you reach your financial goals.

Monthly Budget Example

Here is an example of a family’s monthly budget:

Total monthly income: $4,650

Monthly breakdown of expenses:

Monthly income	$4,650
Monthly expenses
Rent	$2,000
Groceries	$400
Student loan payments	$337.50
Car payment	$150
Credit card payment	$300
Discretionary spending	$232.50
Utilities	$330
Auto & renters insurance	$150
Career enrichment class	$60
Savings	$400
TOTAL:	$4,360 ($290 surplus)

How to Handle Unexpected Expenses in Your Budget

You know how it goes: Life can be filled with unexpected expenses, such as a car repair or larger than expected medical bills. Instead of letting these derail you, work unexpected expenses into your budget.

There are several ways you can go about it, one of which is to have a bit of a buffer in your account. Meaning, you can allocate some extra cash each month just in case — any money that isn’t spent, you can roll it over onto the next month. It can act as a cash cushion in your checking account.

You can also consider building up an emergency fund, a separate set of savings in case you have unexpected expenses. The amount will vary, but a good rule of thumb for how much to have in an emergency fund is to save three to six months’ worth of basic living expenses.

How to Work With Your Family or Partner to Create a Budget

Creating a budget with others means being open to a conversation about what each one needs, and how you can keep each other accountable. It can start by having a meeting about family spending. You can discuss and agree to budget goals and reasonable expenses and use a budget planner to help you solidify things.

Once a preliminary budget is created, find a way to ensure that everyone sticks to it. Some tactics include having one joint account to ensure everyone can track spending or having an app where your partner or family can see an overview of the finances. Whatever you choose, it’s important to meet regularly to review your budget to see whether adjustments need to be made.

💡 Quick Tip: An emergency fund or rainy day fund is an important financial safety net. Aim to have at least three to six months’ worth of basic living expenses saved in case you get a major unexpected bill or lose income.

The Takeaway

Creating a budget to set and reach your financial goals doesn’t have to be hard, and it can be a great way to guide your spending and saving. While there are many approaches and techniques to try, what matters most is finding one that is a good fit for you personally and helps you feel in control of your cash. By learning how to manage your money well, you can be on track to crush your personal and financial goals, whether short- or long-term.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with up to 4.40% APY on SoFi Checking and Savings.

FAQ

What is money management and why is it important?

Money management involves making a plan to help you reach your financial goals, such as getting out of debt, saving for a vacation, or buying a new home. Without sound money management, it can be hard to understand your personal finances and reach your goals.

How do I prioritize my expenses?

You can prioritize your expenses by making sure you have an effective budget and sticking to it. You’ll likely want to prioritize basic living expenses and debt payments. Discretionary spending on the fun stuff of life (entertainment, eating out) can be an area to rein in, if needed.

What are some common mistakes people make with their money and how can I avoid them?

Some common mistakes people make with their money include not establishing clear financial goals, not building a budget that works, and not tracking their spending. To avoid them, it’s a wise move to find a budget technique that works for you, to regularly review and tweak your financial goals, and make adjustments when necessary.

What are some resources available for improving my financial literacy?

Your bank likely offers articles and tools to help improve your financial literacy. You can also head to government or reputable sources like the Consumer Financial Protection Bureau, or buy books or listen to podcasts by respected sources. You can also seek the help of a financial professional.

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

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.

SoFi members with direct deposit can earn up to 4.40% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.40% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 7/11/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

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Source: sofi.com

Apache is functioning normally

July 27, 2023 by Brett Tams

Floods are among the most common and devastating natural disasters, causing extensive damage to homes and properties. They are also extremely expensive to recover from – in 2022 alone, property damage from flood events in the US cost people and governments more than $13 billion. This amount will likely rise as people continue moving to flood-prone areas at a record rate.

If your home was recently flooded, it’s important to start the recovery as soon as the waters recede to avoid further damage to your home and belongings. So what do you do after a flood, and how do you protect your home in the future?

To help, we put together ten essential steps for homeowners so you can be better prepared. So whether you live in a house Tampa, FL, and are recovering from a flood, or an apartment in Wilmington, NC, and just want to learn more, read on for ten important flood safety tips.

1. Prioritize your safety

Safety comes first. Only return to your home once authorities say it’s safe, and use abundant caution. Avoid rushing into your home, as there could be hidden dangers. When you first enter, watch out for downed power lines, gas leaks, standing water, and structural damage. If your power isn’t already out, turn off the electricity if you suspect it’s not safe.

As you move through your home, it’s essential to wear protective gear, like rubber boots and gloves, to prevent injuries. You should also have a first aid kit at hand in case of minor injuries.

2. Assess water quality

Water contamination is extremely common during and after a flood. This is because floodwaters often carry a wide range of pollutants, including bacteria, chemicals, heavy metals, and sewage that can significantly contaminate a home or community’s drinking water supply. This contamination poses serious health risks, especially when used for drinking, cooking, or hygiene purposes.

To reduce risk after a flood, it’s essential to have your water tested to ensure its safety. Local health departments often offer testing services or can recommend a reliable lab. Until your water has been tested and deemed safe, use bottled water for drinking and cooking.

Importantly, if your home uses a private well and it was inundated by floodwater, it’s likely contaminated. You must have your well cleaned, disinfected, and tested by a professional before using the water again. The Environmental Protection Agency provides guidelines on how to disinfect wells after a flood

3. Look out for mold

Mold is a common and serious issue following floods. It can develop within 24 to 48 hours in damp, warm conditions, infesting walls, carpets, and furniture. Mold not only compromises the structural integrity of your home, but it can also pose significant health risks. These can range from allergic reactions and asthma attacks to more serious respiratory infections, especially in individuals with weakened immune systems.

Identifying mold can be tricky since it’s not always visible and it grows in hidden areas, such as behind walls or underneath floors. Common signs include a musty odor, discoloration on surfaces, and worsening allergy symptoms. If you spot or suspect mold growth, don’t attempt to handle it yourself, especially if it covers a large area. It’s best to call in a professional mold remediation company, as they have the appropriate equipment and expertise to remove mold safely and thoroughly, and can advise on preventing future mold growth.

4. Contact your insurance company

If you have a flood insurance policy, it’s crucial to contact your insurance company as soon as possible after a flood. They can guide you through the process of filing a claim. Be prepared to provide comprehensive documentation of the damage, which includes taking pictures and videos of the floodwater, damaged structures, and destroyed items. If you can, try to include water levels in your photos. This documentation helps expedite the claim process and helps ensure that you receive a fair settlement.

It’s important to understand that standard homeowners’ insurance policies typically do not cover flood damage. This is a common misunderstanding and can lead to unpleasant surprises in the event of a flood. Coverage for flood damage requires a separate flood insurance policy, often provided through the National Flood Insurance Program (NFIP), a program managed by the Federal Emergency Management Agency (FEMA).

5. Seek additional financial assistance

Dealing with the aftermath of a flood can be financially challenging, especially if your policy coverage falls short, or you don’t have one at all. If this is the case, you may qualify for assistance from federal, state, or local entities.

The Federal Emergency Management Agency (FEMA) provides the majority of assistance after declared disasters, including floods. This assistance can take many forms, including grants for temporary housing, home repairs, and low-interest loans to cover uninsured property losses. You may also qualify for assistance programs through the U.S. Small Business Administration (SBA), even as a homeowner or renter. The SBA provides low-interest disaster loans to help cover the cost of repairing or replacing damaged property.

Lastly, local charities, non-profit organizations, and community groups often offer free emergency aid in the aftermath of a flood. This could include distributing supplies, organizing volunteer cleanup crews, and offering temporary housing.

No matter your method, make sure to reach out for help proactively and promptly; there can often be application deadlines for disaster assistance programs, especially for major events

6. Thoroughly clean your home

Next, it’s time to begin cleaning up. This step is crucial as stagnant water can lead to mold growth, which poses serious health risks. Remove water-damaged items from your home and start drying out the property. Utilize fans, dehumidifiers, and heaters to speed up the process.

Cleaning up after a flood is a monumental task. You might consider hiring a professional restoration company that specializes in post-flood cleanups. They have the expertise and equipment to handle the situation effectively and safely.

7. Repair and renovate

Once everything is dry and clean, it’s time to repair and renovate your home as necessary. This process could range from replacing drywall and flooring to more extensive structural repairs, such as replacing your roof. Consider hiring a contractor who has experience in restoring homes after a flood.

You can take this opportunity to make your home more flood-resistant so you’re prepared for the future. Options include elevating utilities, waterproofing your basement, or even raising your home, depending on your budget and local building codes.

8. Be aware of scams

Unfortunately, disasters can bring out scammers who prey on vulnerable homeowners. Scammers can take many forms, including charity, government, and insurance impersonators. One of the most common types are home renovation contractors who come unsolicited offering repairs. They will often ask for a downpayment for work that they never end up completing.

To be safe, always verify the credentials of anyone you hire or divulge information to. You can also check with your local Better Business Bureau or your state’s licensing board to ensure you’re working with a legitimate professional. If you’re unsure, ask plenty of questions and contact local authorities.

Insurance adjusters and government officials will never ask for money, collect down payments, or charge a fee for their services.

9. Take care of your emotional health

Don’t neglect your emotional wellbeing in the wake of a flood. It’s normal to feel a variety of emotions, including sadness, frustration, and anxiety. If you feel like you need support, reach out to local community organizations or a mental health professional. Taking care of your emotional health will help you better navigate the recovery process and emerge stronger.

10. Prepare for the future

While you can’t control the weather, you can prepare for surprises. Even if you felt prepared for this flood, it’s essential to prepare for the next as soon as you can. Here are some important steps to take:

Review your insurance policies: Ensure you have appropriate coverage by revisiting your insurance policies. If you didn’t have coverage for this flood, you’ll want it for the next one.
Install a sump pump: Sump pumps are critical to help remove water from your basement or other depressed areas. Consider a battery-powered option in case of a power outage.
Create a flood readiness plan: This should include a clear evacuation plan detailing how and when to leave your home, the safest escape routes, and where to go.
Prepare an emergency kit: Even if you had plenty of supplies this time around, it’s important to keep it stocked for the next event. Your kit should be waterproof and include necessary items like food, water, medication, important documents (like insurance policies), a first-aid kit, hygiene supplies, clothes, cash, and anything else you might need if you must evacuate your home quickly.
Understand your flood risk: Many people don’t know if their property is more at risk of flooding. You can learn if your property is at risk using the flood factor tool, or by searching your property on Redfin.

What to do after a flood: final thoughts

Knowing what to do after a flood can be extremely challenging and daunting. You have to juggle various tasks, ranging from documenting damage and contacting insurance companies, to dealing with potential mold issues and seeking out financial assistance, all while dealing with emotional pain. However, with a systematic approach that includes safety, restoration, insurance, and preparing for the future, the road to recovery can become more manageable.

Recovering from a flood also provides an opportunity to rebuild stronger. This can include understanding and updating insurance policies, flood-proofing your home, creating a comprehensive readiness plan, and understanding your flood risk.

As the world continues to experience the effects of climate change, for many, these measures aren’t just optional but essential. By being proactive and informed, homeowners and renters can not only navigate the recovery from a flood but also better prepare themselves for future events.

This guide should not replace professional advice or guidance. Always seek help from certified professionals for issues related to structural integrity and safety, and follow all official guidance before, during, and after a major weather event.

Source: redfin.com

Apache is functioning normally

July 27, 2023 by Brett Tams

Moving to Jacksonville, FL, offers residents coastal charm and urban living all rolled into one. The city’s warm climate and beautiful beaches create a relaxed and laid-back atmosphere, making it an attractive destination for beach lovers and outdoor enthusiasts. With a rich history and diverse cultural scene, Jacksonville is known for its museums, art galleries, and lively music festivals. The city’s extensive park system, including the stunning Timucuan Ecological and Historic Preserve, provides ample recreational activities and exploration opportunities. So whether you’re searching for apartments in Jacksonville, homes for sale, or want to learn more about what Jacksonville is known for, this Redfin article will be your guide.

1. Low cost of living

The overall cost of living in Jacksonville is 6% below the national average , making it a great city for residents seeking affordability without compromising on amenities. The city’s housing market offers a diverse array of reasonably priced options, with the median sale price of $302,250 which is below the national median of $425,674. Rent can also be found at a lower cost, with an average two-bedroom Jacksonville apartment going for $1,504. Renting in Jacksonville is more budget-friendly than popular metros like Miami, where the average two-bedroom is $3,618.

2. Beach communities

With miles of sandy shores, quaint beach towns, and a range of water-based activities, Jacksonville is full of vibrant, yet relaxed beach communities.

“The Jacksonville beach communities are amazingly generous and collaborative,” shares Lori Richards, a local from BEAM, a community-based organization serving low-income residents living or working in Jacksonville’s beach communities. “The sense of being a hometown that cares for our own is so evident and makes this a wonderful place to live.”

3. Beautiful outdoors

You’ll find an abundance of natural attractions in Jacksonville. There are many things to explore, from the stunning beaches, lush parks, and scenic views.

“In Jacksonville’s 850 square miles, outdoor enthusiasts, artists, and nature lovers can discover inspiring preserves, water bodies, and pristine beaches,” says Shehzad Niazi, a local photographer of Photo Adroit. “From hiking and kayaking trails to historical landmarks across 80,000 acres of National, state, and urban parks, there’s something for everyone. Access to historic St. Augustine and other beautiful southern beaches adds to the allure. Despite years of visiting, I’ve only scratched the surface.”

4. Intracoastal Waterway

Jacksonville is celebrated for its intracoastal waterway, a picturesque route that winds through the city, offering stunning views and recreational opportunities.

Local resident Julia Dugger from Jax Beach Treehouse, a short-term rental property, shares, “Jacksonville is Florida’s secret jewel. While the beaches are big, beautiful, and uncrowded, the Intracoastal Waterway is where the locals play. Boating, waterskiing, kayaking, paddleboarding, or bird watching are fun things to do. Revel in spectacular sunsets and peaceful views. Visitors often decide to move to the area for plenty of reasons.”

5. Fast-growing city

Jacksonville is experiencing rapid growth, with its population, economy, and infrastructure expanding significantly.

“The best part about this city is the economic growth,” says Jesse Lane, a local and owner of J. Lane Construction. “We are doing a ton of multifamily and commercial construction in this city and across the whole state, but Jacksonville is unique and explodes with opportunity and lots of potential.”

5. Native Park

Jacksonville has one of the largest park systems in the US. One particular park of note is Native Park, which was formed in 1923 to increase public awareness of plants indigenous to northeast Florida. The park, which is maintained by the Ixia Chapter of the Florida Native Plant Society, currently has over 160 Florida native plant species organized in zones with maps and plant locations posted in a kiosk. Native Park is located in the historic Avondale neighborhood.

7. Timucuan Ecological and Historic Preserve

The Timucuan Ecological and Historic Preserve is a natural gem that preserves the region’s unique ecosystem and rich history. This expansive preserve allows visitors to explore unspoiled marshlands, historic sites, and abundant wildlife.

Explore55Plus, a company assisting search inquiries for retirement homes, shares, “There is so much to love about Jacksonville, but the stunning natural wonders just a stone’s throw away set this city apart. One of our favorite spots is the Timucuan Ecological and Historic Preserve – one of the last unspoiled wetland ecosystems in the region. Visitors can explore its ancient forests, hike along scenic trails, and discover centuries-old historical sites like the Fort Caroline National Memorial.”

8. Vibrant sports culture

Jacksonville boasts a vibrant sports culture that captivates locals and visitors alike. Home to the NFL team, the Jacksonville Jaguars, the city rallies around its football pride, creating an electrifying atmosphere during game days. Additionally, Jacksonville’s passion for sports extends beyond football, as the city hosts various sports events, including golf tournaments, college athletics, and soccer matches. With state-of-the-art stadiums, sports bars, and a dedicated fan base, Jacksonville provides a lively and dynamic environment that celebrates athleticism, camaraderie, and the spirit of competition.

9. St. Johns River

Jacksonville is widely recognized for its iconic St. Johns River that flows through the city, shaping its identity and providing recreational and economic opportunities. As one of the few rivers in the United States that flows northward, the St. Johns River offers stunning scenic beauty, making it a favorite spot for boat cruises, fishing, and water-based activities. The river’s significance in Jacksonville’s history and commerce cannot be understated, as it is a crucial waterway for transportation, trade, and tourism.

Source: redfin.com

Apache is functioning normally

July 27, 2023 by Brett Tams

Are you stuck in a rut feeling like nothing is exciting left to do? Think again! If you were lucky enough to inherit $100,000 suddenly, what would be the first thing on your bucket list? Redditors had plenty of ideas for how they’d spend their newfound fortune. From purchasing exotic vacations, high-end home renovations, virtual reality headsets, and dream weddings to community sculpture gardens to more practical investments in college tuition grants—there are plenty of ways to imagine how you’d spend a large inheritance!

1. Attend the Funeral

Photo Credit: Shutterstock.

One user pointed out, “Attend funerals.”

Another user replied, “It took me a second, but yep.”

One commenter responded, “Goes without saying.”

“First, I would attend the funerals of the deceased. Then I would think about what to do with the money. Just a matter of respect,” another Redditor shared.

2. Pay Off Debt

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“Become debt free!” exclaimed one user.

Another user added, “Become debt free, stash the rest in savings and CDs for sure. I’ll even get adventurous and go out and have a nice dinner.”

One commenter shared, “You know you’re an elderly millennial when you see the term CDs and start thinking about replacing your beloved but heavily scratched pop-punk and hardcore punk collection from the early and mid-2000s.”

3. Pay Bills

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One user posted, “Pay bills.”

Another user confirmed, “100% this. Pay bills. Pay off debt. Bank the rest against a rainy day.”

One replied, “Smart.”

4. Plan Ahead

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One user shared his own story, “I inherited a little more, roughly $150k total, than that after my mom passed away a few years ago. My dad [had been] a doctor, and she didn’t have to worry about money for her remaining 21 years. When they sold their rental duplex (they never raised the rent in the 30 years they had it), I used my share to open an investment account for both of my kids and used the rest to pay off one credit card.

“With the cash I received from the trust, I paid off the other cards and started my own investment account. I’m 50, and for the first time in my adult life, I don’t have debt other than a student loan (that will hopefully get discharged under the borrower’s defense for false advertising) and our house.

“Before doing that, though, I booked a family vacation to Riviera Maya. I mentioned Dad was a doctor; well, he and Mom traveled the world going to dads medical conferences and just seeing the world. They lived to see new places and do new things. So, to honor and thank them, I spent a small amount and took the family on our first trip outside the US. I cried on the plane, I cried on the beach, I cried when I saw apple pie at the resort like mom made, and I cried when we came home. At one dinner, we talked about Grandma and what we miss most about her. Dad passed before I met my future bride, so only I mentioned him.

“So if I inherited that again, I’d probably do the same thing again. I remembered where it came from, and I prepared for those it would eventually go to.”

One user replied, “This is beautiful, thank you for sharing your incredible story with me.”

“For a person who is not from the US, it’s mind-blowing that you are 50 years old (not that far away from retirement age), and you still have student loans,” one user commented.

5. Make Sure it’s Not a Scam

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Another user posted, “You know how generational wealth is kind of a thing—well, so is generational poverty, as it turns out. So if I suddenly inherited 100k, the first thing I would do is make sure this wasn’t a prank or a scam.”

One confirmed, “Yes, fortunately, it’s not a scam, as my aunt passed away.”

Another user added, “I missed that part. Condolences and congratulations in whichever order you feel is more appropriate. Take the sincere advice of a generational poor person for what it is—but if I were in your shoes, I would act conservatively. I imagine there are a lot of people with a lot of enticing pitches for the newly rich. Just keep pulling in a regular paycheck for your day-to-day if you can, and make sure you have found a well-regarded accountant before the next tax season. Start inquiring into a money manager that can provide a realistic plan to ensure your long-term retirement.

“(Edit: Also, think of ONE affordable extravagance you could never financially justify before but might have been able to pull off and give to yourself as a gift. For me, that would be a 3-day weekend in some major city.)”

“Sending condolences, I was put in a similar situation when my dad passed away. The best advice I can give is to not rush into any decisions financially, take your time, and the money isn’t going anywhere!” shared one user.

6. Fully Exhale

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“For the first time in my adult life, I could fully exhale,” one user confirmed.

One user pointed, “THIS.”

Another user commented, “YES.”

One Redditor added, “Hell yeah, just to breathe easy is a luxury.”

7. Add It to the Rest

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One user shared, “Throw it on the pile.”

One user added, “New paint job for the jet.”

“Ya know, my old boss traded in his propeller plane for a jet and got $100,000 in tax write-offs…” a user commented.

One user commented, “I get it… sometimes it’s just super exhausting just thinking of all the money I have.”

8. Invest

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“Invest,” one user shared.

Another user replied, “All in SPY 0DTE 0.5% OTM calls.”

One user commented, “Invest half, and with the other half, live pretty much the same life, stay at my job, etc., but with complete financial security.”

Another user said, “Invest, invest, invest.”

The OP asked, “What would you invest in?”

The user answered, “The reality is 100k is just the starting point to getting anywhere financially. If you did inherit 100k like you say you did in another comment, it’s worth knowing that if you’re still young (30 or under), you have a huge head start in a secure financial future. I’ll get crap for this, but only spend up to 15% or so of the actual money you get from this. For the rest of it, you should first look to invest in a tax-advantaged account like a Roth IRA. If you max out that annual limit ($6500 for 2023), then either open up high-yield savings (if you’re in a place to buy a house soon) or put it in something simple like the S&P 500 index fund (if you can put this money away for a long time you’ll be shocked at how much it’s grown in 20 years). But most importantly, if you have any high-interest debt, pay that off first.”

9. Buy Lottery Tickets

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One user shared, “50,000 lottery tickets.”

The OP commented, “Love this, thanks for a laugh.”

Another user shared, “Laugh?”

One user commented, “And then you get $70k back if the MrBeast videos are any indication.”

10. Pay Off Mortgage

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A user shared, “Pay off my mortgage and other debts, then go back to living as normal, just with more disposable income since I won’t be making repayments anymore. It’s such a boring adult answer, but it’s accurate.”

Another user replied, ‘I agree with it; I would do the same.”

11. Save As a Safety Net

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One user shared, “Wife and I inherited around $175k. What we did was largely just keep living life, exhale finally, and catch up on some… debts we had. Used the money as a safety net to get out of construction and into something else, and now our lives are, without a shred of doubt, 100x easier than they were before.”

The OP of the thread replied, “This is my hope.”

12. Ask a Financial Advisor

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One user posted, “I’m 50F on a disability pension with high rent and living costs. It’s an unexpected windfall, and I am not financially literate. I don’t want to blow it. Yes, I am going to get a financial advisor!”

One user commented, “Go to a personal finance Reddit or something and ask how to choose a good advisor. Some are shady!”

“It’s honestly not that much these days, a down payment on a house at most. Pay off any debt, but otherwise, live as you have been. Hopefully, with a safety net for the next financial speedbump,” replied one user.

13. Trucks and Good Times

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One user freely posted, “Trucks and H–kers. It would be best if I didn’t get 100k.”

Another user replied, “That’s like 1 of each, lol”

One replied, “Each? You must have gotten a cheap truck.”

14. Government Bonds

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One user commented, “After potentially paying estate/ inheritance tax, Spend [40k] on settling debts (I don’t have much, so there’s going to be leftovers, but I will put them in government bonds as savings $. Spend [10k] on online courses and career certifications. Spend [10k] on buying stuff I’ve wanted for a while. Spend [10k] on new tech. Spend [5k] on a mini solo budget vacation to somewhere random. Keep [5k] as pocket cash. Save [20k] in a high-interest account or maybe split into government bonds, high-interest accounts, green tech stock options, etc. ( I am hesitant investing real estate because of the obvious market bubble).”

“Love this detail; much appreciated. No tax and I’m debt free. I’ll be making a list off this,” replied one user.

15. Donate

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“Help out a lot of people,” one user shared.

Another user replied, “Yes. I’ve already decided who I’m going to help and how much. Giving back is important. I couldn’t imagine not sharing my blessing with those closest to me. I also need help as I have been living on the disability pension, so I’d also like to be out of poverty if at all possible, lol.”

Do you agree with the things listed above? Comment below!

Source: Reddit.

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Every fad has its time in the limelight, but some of them come and go faster than others; and some just need to die out right away. Check out this list of fads of which people were happy to see the last.

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Source: financequickfix.com