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Did you know that you should have a safety checklist in place for your apartment? Fret not: This page covers what you should know about optimal home safety. Read on to learn practical tips for keeping your apartment safe and secure from the time you first tour the apartment to when you’re either moving in or enjoying your new place.

Top tips for ensuring safety in your apartment

The real estate industry is booming. But while many aspire to become homeowners, only a few can invest in residential properties. Many have no choice but to reside in apartments and pay for rent or opt for rent-to-own home options.

Take it from Statista: The U.S. apartment rental market was worth $255.3 billion in 2021 and $253.4 billion in 2022, projected to hit $251.1 billion this year. Property owners continue to cater to the housing needs of renters.

But when renting and living in an apartment, safety should always be on top of mind. Not only should you secure your valuables, but you should also protect the lives of the entire household. Note that home safety also translates to comfort and happiness.

That said, consider the home safety tips below before moving in, when doing so or while living in an apartment.

Before moving in

Ask the right questions and observe all the important details even before making the move.

1. Check the apartment itself

Checking the apartment is imperative before moving in. It would help if you considered various factors even when you’re still looking for one. For example, why not rent a senior apartment if you’re living with older household members?

But when examining the apartment, keep home safety in mind. Here’s what to inspect during the apartment tour:

  • Check the doors and windows. You should ensure they aren’t vulnerable to burglars and intruders.
  • Examine the plumbing, electrical and HVAC systems. The goal is to ensure they don’t pose safety hazards at home.

2. Observe the area

Ryan Zomorodi, Co-Founder and COO of RealEstateSkills.com, suggests studying the location. “When looking for an apartment, you don’t only examine the property itself; you also observe the surroundings. You want to ensure living in a safe and friendly neighborhood.”

As such, Zomorodi recommends taking the following steps before moving in:

  • Check the neighborhood. Walk around to get the feel of the surroundings.
  • Meet potential neighbors. If possible, pursue a conversation with some of them.
  • See if it’s a disaster-free zone. Ideally, the area shouldn’t be prone to natural calamities or disasters.

When moving in

Set up your new abode to be as safe and comforting as possible while moving in.

3. Set a security system in place

Making security a top priority is equally important as getting the best mattress for sound sleep. So, upon moving in, prioritize installing a security system. That is, if you have the financial means to invest in security tools and devices.

To set up your home security systems, here are a few recommendations:

  • Have a wireless alarm system. This system should sound an alarm if intruders invade your house at night.
  • Put sensors in your doors and windows. Both are entry points that you must completely secure.
  • Install cameras on your front and back patio. Review the videos once in a while to stop potential burglary. In case of unforeseen circumstances, you have these as proof.

4. Update your doors and windows

Doors and windows are the entry points in your apartment. Unauthorized personnel can get into your house through these points. So, before moving in, consider securing your doors and windows.

If you think these entry points are vulnerable, contact local service providers for real estate to perform upgrades. Here’s what to consider:

  • Doors: Update your door locks with robust tools and materials. If not, install a door security bar to reinforce your security.
  • Windows: Install windows that come with a pair of locks. Ensure these locks are in top shape and working conditions. If not, repair or replace them altogether.

5. Repair your home systems

Sure, the property owner is responsible for the apartment repair before renting out the place. However, it’s best to fix and upgrade various systems to meet your safety requirements and comfort needs. That said, prioritize the following:

  • The plumbing system ensures your water supply distribution and the proper wastewater disposal. Make sure it doesn’t pose health threats and safety hazards.
  • The electrical system powers your entire apartment and the appliances. Ensure it won’t cause a fire outbreak and put your life at risk.
  • The HVAC system regulates the heating, ventilation and air conditioning unit of your apartment. Stay on top of it so it doesn’t compromise your safety.

When living in the apartment

Ensure your home is safe and sound for you and your family.

6. Regulate the use of keys

When moving in, the property owner hands over duplicate apartment keys. Of course, they serve as access to your home. However, it’s best to regulate who holds the key. That way, you can control who goes in and out of your apartment.

Below are a few things to keep in mind:

  • Ask the homeowner if they are the only ones with access.
  • See if the previous tenants have returned the keys.
  • Provide duplicate keys only to your housemates.
  • Keep the keys with you or your housemates all the time.

7. Use curtains to prevent people from peeking

Did you know that you hang curtains not only for aesthetics? For all you know, you can use them to promote safety at home. Of course, they prevent passersby from prying into your apartment.

Keep in mind that there’s a right way to hang your curtains. Strategize on how you’d go about positioning your drapes.

You can open your windows and curtains at a particular time of the day. That is to allow sunlight and fresh air into your home. However, ensure it doesn’t pave the way for people to spy on your apartment.

8. Inspect, maintain and repair your systems

Tom Nolan, Founder of All Star Home, recommends regular property upkeep. “You should stay on top of your apartment’s maintenance regularly. That is to maintain its structural integrity and prevent safety and health hazards.”

Nolan recommends the following measures:

  • Inspection: Examine various parts of your house regularly. Are the toilets slippery? Are the electrical wirings wearing off? Are there growing molds and mildew in the kitchen?
  • Maintenance: No, you don’t just clean your apartment regularly. You must also maintain various systems, from plumbing to electrical to HVAC. Warning: Neglecting them can cause safety risks at home.
  • Repair: If you find minor issues in your apartment, fix them immediately or hire professionals to do the job for you. That way, they won’t escalate into major problems that can threaten lives at home.

9. Keep valuables in a safe

As an apartment renter, you try to stay on top of your finances. You check your household income for social security, taxes, insurance and other expenditures. But you want to ensure that you consistently pay your rent on time.

However, nothing can be more frustrating than your valuables getting stolen at home. So what better way to do than invest in a safe to store all your valuables? Here are some items you can keep in a vault:

  • Cash
  • Jewelry
  • Heirlooms
  • Pertinent documents
  • Other valuables

10. Lock your doors and windows when out

As a property renter, you should be responsible for ensuring home safety. As such, make it a habit to lock your entry points when leaving the house. This is especially true if you’re living alone in your apartment.

However, if you’re sharing your space with others, remind all your housemates to do the same. Even if you’re off to sleep, lock all doors and windows. The last thing you want to happen is to become a victim of burglary just because you forgot to do so.

11. Set contingency plans for emergencies

Disaster safety for apartment renters is imperative. But no matter how you try to stay on top of it, emergencies can strike anytime. Therefore, you should set contingency plans in place.

  • Crimes: In case of emergency crimes, know what steps to take and whom to contact.
  • Burglary: While prevention is still the best measure, plan how to act during such a case or what to do after like incident reporting.
  • Flood: Ensure you have an elevated space in the neighborhood. Also, monitor the weather if there’s a storm in your area. Lastly, evacuate your place as soon as possible if there’s a heavy downpour.
  • Fire: One thing you must ensure is to have a fire exit in your apartment. Likewise, learn some safety measures like putting off a fire using a fire extinguisher and blowing out your candles when you leave a room.

12. Consider getting insurance

Renter’s insurance is precisely what it sounds like — protection for people renting an apartment, house or condo.

Also known as the tenant’s or apartment insurance, it secures your personal belongings and covers things like repair costs, medical payments and additional living expenses in case of incidents.

Anthony Martin, Founder and CEO of Choice Mutual, recommends getting a renter’s insurance. “As an apartment tenant, you want to foster home safety at all times. However, one thing you must consider is financial protection. Getting insurance is key!”

Home, safe home

Home safety is always a top priority. When renting an apartment, focus on this before considering the aesthetics, amenities and other factors.

That said, consider the home safety tips recommended above. Before and when moving into an apartment, follow the practical steps laid out above. And while living in an apartment, always stay on top of your safety and security.

At the end of the day, you want to go home in a safe space, eat a hearty meal with your loved ones and have a sound sleep! Still looking for a safe, comfortable home? Check out our houses and apartments for rent.

Source: apartmentguide.com

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Color your life with the beauty of nature.

Creating an indoor garden can bring life and vibrancy to your living space. Whether you’re a seasoned gardener or a first-time plant owner, there are important distinctions to understand and consider in an indoor garden. Let’s explore the benefits of indoor gardens, dos and don’ts for indoor gardening and garden ideas to get you started on your green thumb journey.

Indoor garden ideas by plant type and lifestyle

Perhaps the most exciting step of your indoor plant-growing adventure is selecting the greenery that fits best with your lifestyle and personal aesthetic. Certain plants require daily attention while others require little to no upkeep, making selecting the right plant around your specific lifestyle imperative. When deciding between potted plants, hanging plants and climbing plants, it’s good to consider how much responsibility you have to give to your indoor garden.

If you’re always busy:

  • Succulents: This plant is growing in popularity and for good reason, they require little care. Succulents rarely need watering, making them perfect for the busy indoor gardener who struggles to add more to their to-do list.
  • Snake plants: These low-maintenance plants are perfect for enhancing your apartment without inflicting on your busy schedule. Not only do snake plants thrive in any light (including low natural light), but they are only required to be watered once every two weeks.

If you’re not home a lot:

  • Air plants: Air plants survive on just that — air. These self-sufficient plants don’t even require soil and absorb most nutrients from the air. They’ll enjoy an occasional misting but require little to no attention or light.
  • Spider plants: Even with a scary name, these plants have become well-loved additions for many spaces, and they’re ideal for someone who is rarely home. They handle irregular watering well, lending themselves to your ever-changing schedule perfectly.

If you have pets:

  • Bamboo plant: These non-toxic ferms are the perfect addition to any room. Along with their stunning stature, they provide peace of mind for your cats, dogs or other pets.
  • Boston fern: This non-toxic option is a popular addition to a hanging garden as a great hanging plant, making it a perfect option for pets who may bite or knock over plants. Even if you choose to place this plant lower, your pets are safe.

If you love to cook:

  • Herbs: The options are truly endless when it comes to an indoor herb garden. Consider basil, rosemary, thyme and mint to add the homegrown touch of fresh herbs to your favorite meals.
  • Aloe vera: While not necessary for a chef, this is a great plant to have on hand for any accidental kitchen burns. Plus, it’s very easy to care for.

If you are a maximalist:

  • Prayer plant: If you’re looking for a boisterous plant for your indoor garden, the Prayer plant has a beautiful pattern sure to stop guests in their tracks. Its lemon-lime coloring makes it a great addition to your maximalist pad.
  • Fiddle leaf fig: A large and in-charge plant, the fiddle leaf fig is sure to be the star of the show in your indoor garden. Not only do these thrive indoors, but they also add a touch of lush greenery to your vibrant space.

Plant combinations we love for your indoor garden

Want to transport yourself to a tropical paradise? Combine tropical plants like alocasia, bird of paradise, calathea and spider plant for a stunning and exotic-feeling indoor garden.

If you’re looking for a more zen garden feel, consider mixing a bonsai tree, lucky bamboo and peace lily. Together, these gorgeous potted plants will bring a sense of tranquility to any indoor space.

Awaken your sense of smell with lavender, jasmine and geraniums. This trio sits perfectly on a sunny windowsill and will fill your small room with a delightful smell.

Dos and don’ts of an indoor garden

Growing plants is a commitment, small or large, depending on the indoor plants selected. In order to successfully bring your indoor garden ideas to life, consider these dos and don’ts of an indoor garden.

Do:

  • Assess lighting conditions: Understand the natural light available in your space. Most plants require some level of direct sunlight, so choose plants that match the lighting conditions in your desired indoor garden rooms.
  • Select your plants carefully: Choosing the right plants for your garden ensures the garden is visually pleasing and easy to maintain. Consider starting with one or two plants from the list above that fit your lifestyle.
  • Invest in quality soil when needed: Not all plants require soil (air plants) and some may even come with soil when purchased. However, when necessary, it’s important to invest in a good potting mix suitable for your plant types. Learn more about soil types here.
  • Create a watering schedule: Different plants require different watering needs. Be mindful not to overwater; it’s often better to underwater than overwater. Invest in a sauce to keep under the floor or table plants to collect any access water. Also, misting often is important. Certain types of plants thrive in humidity, so spritzing your plant that requires a humid environment needs to be a priority.

Don’t:

  • Overcrowd plants: Leave room in between plants so they can thrive and grow. Indoor gardens lack sunlight, making it important each plant can get ample sunlight.
  • Tend to them too much: Too much water will drown your plant. In the same way, too much fertilizer can harm your plants. Follow recommended feeding schedules and watering schedules based on plant type.
  • Neglect pest control: Keep an eye out for pests. Early detection of any pesky unwanted guests can save your plants. Use natural remedies or plant-friendly bug deterrents when needed.

What if you want to grow a spice garden?

Compared to an outdoor green space, an indoor spice garden is much less difficult. Still, there are decisions to make and steps to follow to achieve success!

Step 1: Pick a location (or two!)

As all plants require at least some sunlight to grow, identify the window spaces that have the best light for the herbs you’re growing. South-facing windows offer the most sunlight during the winter, so those are the best choice for plants that grow best in tropical climates, such as thyme, basil, oregano, rosemary and bay laurel. However, herbs like mint, chives, chervil and parsley don’t require such heavy light, so nurture those near east or west-facing windows.

If you want to get really fancy try setting up grow lights for best results, especially when growing from seeds. Then, it won’t really matter where the plants are!

Step 2: Choose herbs, then purchase plants or plant seeds

Purchase plants any time of year! Pick up a few from the local nursery and consider buying more attractive containers than those plain, black plastic ones they come in. Think farmhouse chic, a la Joanna Gaines!

If planting from seed, start in spring. Buy the seeds you want, as well as a bag of seed-starting potting mix. This is very important because heavier types of potting soil aren’t good for helping the germination process.

Some people opt to start the seed-planting process in plastic trays that have a lot of individual cells. Then, transplant the sprouts into clay pots. But you can do either! Whichever container type you select, place the newly seeded containers out of direct light in a warm room. Use clear plastic to cover them until germination happens, then take the plastic off and place it in sunlight or under grow lights (preferably the latter).

Step 3: Water and fertilize

Water is another essential ingredient to herb garden success. Be careful not to add too much of a good thing, however. Do not allow the soil to get very wet. Instead, water lightly using a watering can or sprayer to keep the soil slightly moist.

Frequency of watering really depends on how quickly your plants dry out. The amount of sunlight and temperature inside the apartment affects this. Do a fingertip test to make sure each plant really needs watering before you do it.

Starting a week or so after germination, use a liquid houseplant fertilizer a couple of times a month. Follow directions accordingly.

Step 4: Harvest

Don’t cut into that brand-new plant right away! Instead, wait to start snipping until the plant is at least four to six inches tall.

To harvest, cut the outside leaves first. Use kitchen scissors or shears that are both clean and sharp. This will help the plant heal more quickly. Take care not to cut more than one-third of the plant at any given time, so that it can grow and mature at a good, strong pace.

If the plant starts to flower be sure to pinch the buds off, or else it will change from a producing plant to one that is more interested in reproduction.

Step 5: Enjoy!

Your enjoyment of these herbs is only limited by your imagination! Top your favorite dishes with fresh green onion or cilantro, or cook with sage or thyme for extra flavor. Some even go well as cocktail garnishes (mint)!

The best herbs to grow in your indoor spice garden

The great thing about growing your own herb garden is that you don’t have to plant anything that doesn’t suit your palate. Not a fan of cilantro? Don’t even bother! Put basil on everything? Plant extra!

Certain herbs are extra popular in DIY gardens. When you’re planning your garden, consider these versatile cooking herbs:

  • Lemongrass: Fans of Asian cuisine should definitely plant this easy to grow herb.
  • Parsley: This one is tricky to grow from seed, so perhaps start off with a plant, instead. Never transplant parsley from one container to another!
  • Rosemary: A must for soups and stews, this aromatic herb grows best in full sun.
  • Mint: One of the easiest to grow, mint is a great addition to just about any type of recipe.
  • Chives: Another on the cinch list, chives grow quickly and with little help. They make a wonderful and tasty garnish atop many dishes!
  • Basil: A little trickier than some herbs to grow, basil is well worth the extra effort.

FAQs: bringing your indoor garden ideas to life

Embracing your green thumb can come with some questions. Whether you’re dealing with a potted plant, living wall, trailing plants or edible greens, you’re sure to encounter a myriad of challenges and curiosities along your gardening journey. Here are the answers and tips for some challenges or questions you may encounter.

How do I know if my plant needs water?

You can test the soil with your finger. Stick your finger into the soil about an inch deep and if it feels dry, it’s time to water. Some plants also show signs like drooping leaves when thirsty. It’s best to google your specific plant if you’re unsure.

Do I need to repot my plants?

A good rule of thumb to follow is replacing the pot every 1-2 years. If the plant is outgrowing the pot, then a replacement pot is also necessary.

What do brown or yellow leaves mean?

Leaves that turn brown or a yellowish color are typically a sign of something wrong. Most likely, this is a sign of overwatering or underwatering. Try checking the soil moisture and adjusting your watering routine as needed. Then, trim off the affected leaves to encourage new growth.

What are some benefits of an indoor garden, beyond aesthetic appeal?

Indoor gardening can alleviate stress, enhance creativity and increase productivity. Additionally, some studies prove houseplants may have a positive impact on the air quality within your home as well.

Indoor plants will breathe new life into your place

Whether you’re moving into a small or large apartment, there are ways to breathe unique life into your space with plants. These indoor garden ideas will help you transform your living environment, making it a vibrant and refreshing oasis of greenery. Test out these numerous creative approaches to infuse your living space with the beauty and benefits of indoor gardening.

Still looking for the perfect apartment to furnish with greenery? Start and end your search with our list of apartments for rent.

Source: rent.com

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Before you buy a homeowners policy, your insurer might require a home insurance inspection. This inspection isn’t the same as the one you had when you bought your house. Instead, it’s a way for insurance companies to see the condition of your home, evaluate your coverage needs and decide whether they’re willing to insure you. Keeping your home in good shape can help this process go smoothly and ensure you get the coverage you need.

What is a home insurance inspection?

A home insurance inspection helps insurers understand the risks of covering your house. It allows your insurer to figure out how much it would cost to rebuild your house and to spot any issues, like fire hazards or weak structures, that might lead to insurance claims in the future. This information helps the insurance company decide if your home is in good enough shape to insure, and if so, how much your premium should cost.

Not all homes will undergo these inspections. Your insurer might require an inspection if:

  • You have a high-value or older home.

  • You live in an area at risk of tornadoes, hurricanes, wildfires or other hazards.

What can you expect during a home insurance inspection?

You might not need to be present for an exterior inspection, but you will if the inspector is checking the interior of your home for things like wiring, plumbing and safety features. The inspection could take up to a few hours, depending on how detailed it is.

For an external inspection, the inspector may look at things like your roof, windows, doors and chimney. They may also check for hazards like overhanging trees or cracks in the walkways.

An interior inspection may involve examining walls, ceilings and floors for signs of water damage or pests. The inspector may also assess the state of your plumbing, electrical, and heating and cooling systems. They’ll often check safety features like smoke detectors, carbon monoxide detectors and security systems, too.

🤓Nerdy Tip

Your insurer may use your home insurance inspection to verify that you qualify for certain home insurance discounts. For example, many companies offer savings for having a home security system.

How to prepare for a home insurance inspection

Before your home insurance inspection, do your own thorough check to avoid being caught off guard by any problems. (You may want to hire a professional for some of these tasks.)

If you spot any potential issues, fix what you can or reach out to a contractor who can help. Here are a few key places to focus on.

Exterior of the house

  • Roof: Have a roofer check for damaged or missing shingles.

  • Gutters: Clear debris and ensure your gutters are secure.

  • Chimney: Look for cracks or loose bricks; consider a professional cleaning.

  • Trees: Trim branches away from the house.

  • Siding, doors and windows: Check for cracks, leaks and damage.

  • Walkways: Ensure there are no tripping hazards.

  • Yard: Remove loose debris and get rid of pools of water near your home that could lead to pests.

Interior of the house

  • Detectors: Ensure smoke and carbon monoxide detectors work.

  • Fire extinguisher: Check to make sure it’s operational.

  • Fireplace: Clean it out if you have one.

  • Windows, walls, doors and plumbing: Check for signs of leaks, cracks and pest issues.

  • Attic and basement: Look for signs of water or pest damage.

  • HVAC system: Have a professional clean and test your system.

What if you fail a home insurance inspection?

If your home doesn’t pass the insurance inspection, don’t worry — you have options. Make sure to act quickly. Being uninsured, even for a short time, is risky. A lapse in coverage can make it harder and more expensive to get a policy in the future. And if something happens while you’re not insured, you’ll be financially responsible.

Fix the issues

Your inspector may point out problems like a leaky roof or electrical issues. If your insurance company denies you coverage for fixable reasons like these, address them if you can.

Find a different insurer

If you were denied coverage because you live in an area at high risk for crime or severe weather, ask your neighbors who they use for home insurance. You can also ask the previous homeowners or reach out to a local independent insurance agent.

Not all companies have the same rules. Some insurers are pickier than others about the age of your roof, for instance. So if you can’t afford to get a new roof or make other major repairs, try another company. If one insurer says no, another might say yes.

Dispute the decision

If your insurer drops you due to a failed home insurance inspection and you don’t agree with the decision, you can dispute it. Be prepared to provide evidence to support your case, such as receipts for work you’ve had done on the house or a property assessment from an independent inspector.

You can also file a complaint with your state’s insurance department. It can conduct its own research into your claim and work with your insurance company to resolve the issue.

Look into state-run insurers

Many states have programs to help homeowners who struggle to get insurance. For example, Fair Access to Insurance Requirements (FAIR) plans are designed for high-risk homes that private companies won’t insure. An independent insurance agent can help you find programs like this in your area.

Source: nerdwallet.com

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Inside: Intuit bought its popular Mint app and now it shutting down leaving users scrambling to find an alternative. This guide will help you understand Intuit’s decision to move Mint to Credit Karma and provide a list of alternatives for personal finance management.

In an era where personal finance apps are thriving more than ever, the shutdown news of Intuit’s Mint app comes as a shock for many.

When I heard the news, I couldn’t believe my ears… moving Mint’s feature to Credit Karma – a credit repair app?!?!

Once I got over the shock, I knew you wanted the best information out there to decide on what to do next.

Our guide here is dedicated to helping Mint users navigate the ongoing changes and prepare for what’s next in their personal finance journey.

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

The Downfall: Intuit’s Decision to Shut Down Mint

Mint has always been a beacon in the realm of top budgeting apps; mostly due to the fact it was free.

However, Intuit’s decision to close Mint marks the end of an era. Yet, there is a teaser… Mint is propelling people to Credit Karma.

Here is a statement in the Mint App News:

“Credit Karma is thrilled to invite all Minters to continue their financial journey on Credit Karma, where they will have access to Credit Karma’s suite of features, products, tools and services, including some of Mint’s most popular features.”

Mint App News1

Mint’s commendable service, free albeit with ads, which has been helping many people manage their finances effectively, will be missed by Minters—time to understand why this happened.

Why is Mint Shutting Down?

Credit: Intuit MintLife 1

A surprising fact is that a free personal finance app like Mint isn’t a sustainable business. Most free apps have marginal direct costs associated with their services, unlike personal finance apps. They heavily rely on expensive data aggregators to gather the necessary financial data, causing a steady revenue loss for Mint per free user.

Intuit’s model has never been able to cover these costs leading to a revenue crisis. That was a key reason why I believe Intuit decided to shut down Mint. While Intuit denied Mint’s expenses being material in their quarterly earnings calls in 2023, they did note however they are looking to grow their consumer base across all of their products. 2

The Controversy Surrounding Mint’s Shutdown

While the financial reason behind Mint’s closure is understandable, this decision has provoked a wave of consternation among the users. Massive user outcry on Reddit underscores the integral role Mint played in their lives, and some even accuse Intuit of abandoning its commitment to free financial management resources.3

Given the fairly recent acquisition of Mint into Intuit, this may be surprising for many including these Twitter users.10

When is Mint shutting down?

Yes, Mint is being shut down. Mint’s curtains will be drawn on January 1, 2024.

From this date, users will no longer be able to access their accounts or use any Mint services as we know them today.

So, don’t be caught off-guard; stay prepared and choose the right alternative before Mint bids adieu. We have other options below to help you guide this transition.

Mint User’s Guide: Next Steps to Credit Karma

Okay, one piece of advice I always give at Money Bliss is to plan and carve your own money journey. So, let’s move from panic to planning:

What should Mint users do now?

It’s natural to feel perturbed by Mint’s shutdown. Yet, the smart step is to immediately switch to planning mode.

Some crucial actions include exporting your transactions from Mint for future use and deleting your account once you have secured all necessary information.

In this interim period, also make sure to explore personal finance app alternatives, considering their features and support services, to find one that fits your needs perfectly.

Starting Afresh: Alternatives to Mint App

In light of recent events, here are the best apps available for Minters.

Switching to a new personal finance app might feel daunting initially, but there’s no need to worry. This era offers a wide array of options, many of which employ advanced technology and provide a user-friendly experience.

Look for apps that offer seamless data importation from Mint with a CSV file, comprehensive financial overview, dependable security features, and preferably, competitive pricing as well.

Diving into Details: A Comparison of Mint Alternatives

When comparing Mint alternatives, consider factors such as user interface, functions, cost, and customer feedback. Each app has its unique strengths.

For instance, YNAB stands out for budgeting, and Quicken shines in terms of portfolio management, while Simplifi offers a user-friendly interface. You may pick a budget app based on your budgeting preference, such as budget by paycheck or zero based budgeting.

Research thoroughly to find the app that delivers your personal financial needs the best.

YNAB

YNAB, or You Need a Budget, stands out for its award-winning budgeting system. It’s not a clone of Mint, but rather, it takes a unique approach to helping people proactively track spending and work towards financial goals.

YNAB stands out in personal finance management since it allows for utmost user control with its four simple pillars:

  1. Give Every Dollar a Job
  2. Embrace Your True Expenses
  3. Roll with the Punches
  4. Age Your Money

Additionally, YNAB presents flexible customization options for category names, a feature that enhances user experience, along with an open-source toolkit for extensive reporting while maintaining supreme user data privacy.

  • Learning Curve: YNAB requires diligence and customization in its early stages, but offers a robust set of personalized budgeting tools once users cross the learning curve.
  • Import Existing Mint Transactions: Yes 4
  • Price: Free 34 day trial and then a subscription-based model of $14.99 monthly or $99 annually.

Most people struggle with YNAB because of the steeper learning curve as well as getting one month ahead on their money. This is YNAB’s rule #4 to age your money, which is a smart money move and one we do personally.

No need to compare YNAB vs Mint anymore.

YNAB

Enjoy guilt-free spending and effortless saving with a friendly, flexible method for managing your finances. 

Pros:

  • Comprehensive approach to budgeting, helping you plan monthly budgets based on your income.
  • Offers expert advice, making it suitable for those who require an in-depth, forward-thinking budgeting strategy.
  • Superior synchronization skills make it the winner in this area.
  • YNAB has extra features like goal setting for budgeting, shared budgeting tools for partners.
  • Option to manually add and upload transactions from accounts each month.
  • YNAB prioritizes user privacy.

Start 34 Day Free Trial

YNAB vs Mint

Simplifi

Simplifi by Quicken is a budgeting app that strikes a fine balance between complexity and simplicity.

Cheaper than a gallon of gas per month, Simplifi by Quicken a great bargain that offers a clean, intuitive, and clutter-free interface. It allows users to effortlessly track their spending, monitor savings goals, capture bills, and more.

  • Learning Curve: Simplifi is smooth due to its user-friendly interface and detailed instructions
  • Import Existing Mint Transactions: Yes 6
  • Price: Starting at $2.39/ month for new users

Simplifi has been rated as a preferred choice for people who want a fuss-free app to manage finances.

simplifi

Manage your money less in 5 minutes each week.

Reach your money goals with confidence!

“The easiest, most comprehensive way to both see where your money is going and plan for future expenses.”

Start FREE Trial

Quicken

This is the personal finance software I have been using for over 25 years.

Quicken offers robust personal finance management tools that make it easier to track expenses, income, and investments. Many people complain their budgeting feature isn’t up to par, but their cash flow reporting overcomes this as you can see your spending and plan accordingly.

  • Quicken Classic Deluxe: Robust & feature-rich | Best for power users
  • Quicken Classic Premier: Robust & feature-rich including investment| Best for serious users
  • Quicken Classic Business & Personal: Best-in-class business features integrated with our flagship personal finance product

Quicken might be the most suitable option for current Mint users due to its compatibility and ease of use. Unlike Mint, Quicken is not free, but its expansive features such as detailed expense tracking, report generation, and robust investment tracking arguably justify the cost. Plus you can add attachments of receipts into the transactions.

  • Learning Curve: Quicken may present a significant learning curve for beginners.
  • Import Existing Mint Transactions: Yes 5
  • Price: Starts at $4.19/ month for Quicken classic for new users. All plans have a 30 day money back guarantee.

It’s a perfect match for anyone requiring a comprehensive personal finance tool. You can sync between multiple devices as I covered in my Quicken review.

Quicken

Personal finance and money management software allows you to manage spending, create monthly budgets, track investments, retirement and more.

I have used this platform for over 20 years now.

Pros:

  • Birds-eye view of your complete financial picture.
  • Conveniently download your spending activities, and automatically categorize them (Quicken connects to over 14,000 financial institutions).
  • Track investments with it’s features like portfolio analytics, retirement goals, and market comparison.
Cons:

  • Little complex to use at first, the learning curve is moderate.
  • Yearly subscription-based model to use the platform.

Save 40% on New Memberships

Our Review

Monarch Money

Monarch Money’s unique selling point is its robust data connectivity. Armed with state-of-art financial transaction infrastructure that integrates with various data aggregators, Monarch promises effective budgeting and financial planning. It’s not free but offers a 7-day free trial to test its features.

Its subscription charges are $14.99 per month or $99.99 per year, a fair trade for its impressive service.

This is the latest top budget app to surface as true competition.

  • Learning Curve: Monarch Money boasts an intuitive and user-friendly interface, making the learning curve minimal and easy for new users.
  • Import Existing Mint Transactions: Yes 7
  • Price: Try Monarch Premium for free for 7 days. Then choose between the $14.99/month or annual $99/year plan.

Monarch Money facilitates financial planning with goal setting and forecasts, allows Mint transactions importation for history preservation, has customer-driven rapid development, provides a multi-user platform for collaborative financial management, is available across multiple platforms, and provides efficient customer service.

Tiller Money

Tiller Money might be the perfect solution for spreadsheet enthusiasts. This unique budgeting tool uses spreadsheets to manage finances and daily transaction updates. It is highly customizable with categories and reports to help you stay on top of your spending.

Tiller Money is a definite contender in the personal finance app scene.

  • Learning Curve: While Tiller Money requires a basic understanding of spreadsheets, users can easily customize it to suit their personal budget needs.
  • Import Existing Mint Transactions: Yes 8
  • Price: Starts with a free trial for 30 days and then charges a reasonable annual fee of $79.

A notable feature is its ability to pull and categorize credit card transactions, providing an in-depth view of spending habits.

Tiller Money

Your financial life in a spreadsheet, automatically updated each day. 

Tiller is the fastest, easiest way to manage your money with the unlimited flexibility of a spreadsheet.

Update your finances in one place, so you can take control of spending, optimize cash flow, and confidently plan your financial future.

Pros:

  • Tiller automatically updates Google Sheets and Microsoft Excel with your latest spending, balances, and transactions each day.
  • No more tedious data entry, CSV files, or logging into multiple accounts.
  • You can customize everything and finally track your money, your way.

Try Tiller Free

Empower

Empower, formerly known as Personal Capital, is a comprehensive personal finance app that provides tools for managing income, expenses, assets, and liabilities.

With its intuitive interface, Empower users can seamlessly track their spending, create custom budgets, and even get insights into their net worth which can be updated on a monthly basis, thereby aiding in effective financial management. Additionally, their retirement planner is one of the best available – plus for free.

  • Learning Curve: Empower has a relatively intuitive interface, making the learning curve fairly manageable for new users.
  • Import Existing Mint Transactions: No 9
  • Price: Free to use

The downfall is Empower provides wealth management services, so there is a heavy sales pitch to bring assets under management.

Empower

Empower offers powerful tools to help you plan your investment strategy along with basic budgeting features and a great net worth tool.

As a free app, Empower can help you to save money, save time, and even make more money.

Get Started

Empower Personal Wealth, LLC (“EPW”) compensates Money Bliss  for new leads. Money Bliss  is not an investment client of Personal Capital Advisors Corporation or Empower Advisory Group, LLC.

How to Move From Mint to Credit Karma?

Yep, I gave you the alternatives to Mint first.

Yet, the goal for Intuit is to move to Credit Karma. The core issue right now is while we do know which features will be transferred from Mint to Credit Karma. We are not sure as Minters if we will like the new layout and features offered with Credit Karma.

Right now, the budgeting feature will not be offered at Credit Karma, which I know for many Money Bliss readers is a big feature lost.

Learn more on how to move from Mint to Credit Karma.

Intuit’s Current Portfolio of Products

Intuit buying out Mint in 2020, you may be wondering about the current products offered by Intuit. 10

Intuit offers a range of financial and tax preparation products, including

Most notable is the success of TurboTax and Credit Karma.

Frequently Asked Questions

Once Mint shuts down, it’s crucial to know that Intuit will no longer have access to your financial data. All account and transaction information associated with your Mint profile will be deleted permanently from Mint’s databases.

To prevent any loss of important financial information, make sure to export all your transactions from Mint before the shutdown date arrives.

This highlights the importance of regularly backing up financial data as you may not know the next steps a company has for their product.

Yes, you can migrate your Mint data to a different personal finance app before Mint shuts down.

After you export your transactions from Mint, you can then import them to your new finance management app, ensuring you seamlessly carry over all essential financial information and continue managing your finances smoothly. However, bear in mind that the steps to do this may vary depending on the app you choose as your next financial companion.

Coping with the Closure: Dealing with the Loss of Mint

For long-time Minters, Mint’s shutdown can feel like losing a trusted companion. It’s natural to feel a sense of loss and uncertainty. I completely understand. That is why I haven’t switched from Quicken because of the long-term history.

However, remember that technology promises continual growth and evolution. There are numerous other personal finance apps out there, likely even better ones suited to your needs.

So, take a deep breath, do your research, and move on to the next chapter of your financial journey with confidence.

Source

  1. Intuit MintLife. “Intuit Credit Karma welcomes all Minters!” https://mint.intuit.com/blog/mint-app-news/intuit-credit-karma-welcomes-minters/. Accessed November 1, 2023.
  2. Intuit. “Event Details – Intuit Investor Day 2023.” https://investors.intuit.com/events-and-presentations/event-details/2023/Intuit-Investor-Day-2023/default.aspx. Accessed November 1, 2023.
  3. Reddit. “Thoughts on the Mint shutdown from Monarch CEO (and first Mint product manager.” https://www.reddit.com/r/mintuit/comments/17llnbu/thoughts_on_the_mint_shutdown_from_monarch_ceo/. Accessed November 1, 2023.
  4. YNAB. “File-Based Import: A Guide.” https://support.ynab.com/en_us/file-based-import-a-guide-Bkj4Sszyo. Accessed November 1, 2023.
  5. Quicken. “Quicken for Windows: Importing Address Book Records From Another Program.” https://www.quicken.com/support/quicken-windows-importing-address-book-records-another-program. Accessed November 1, 2023.
  6. Quicken Simplifi. “How to Manually Import Transactions.” https://help.simplifimoney.com/en/articles/4413430-how-to-manually-import-transactions. Accessed November 1, 2023.
  7. Monarch. “Move data over from Mint to Monarch.” https://help.monarchmoney.com/hc/en-us/articles/4411877901972-Move-data-over-from-Mint-to-Monarch. Accessed November 1, 2023.
  8. Tiller. “How to Easily Export Mint Transactions to a Spreadsheet.” https://www.tillerhq.com/exporting-mint-transaction-data-into-a-google-sheet-spreadsheet/. Accessed November 1, 2023.
  9. Empower. “Am I able to see more than 3 months of data in Empower Personal Dashboard after I first link my account?” https://support-personalwealth.empower.com/hc/en-us/articles/201170160-Am-I-able-to-see-more-than-3-months-of-data-in-Empower-Personal-Dashboard-after-I-first-link-my-account-. Accessed November 1, 2023.
  10. Intuit MintLife. “Intuit to Acquire Mint.com.” https://mint.intuit.com/blog/press/intuit-to-acquire-mint-com/. Accessed November 1, 2023.

Know someone else that needs this, too? Then, please share!!

Did the post resonate with you?

More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!

Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.

Source: moneybliss.org

Apache is functioning normally

In her new book, “The Organized Home for New Parents,” Dallas home organizer and mom Ría Safford offers solutions for managing all the stuff that babies come with, so homes with little ones function better and look good, too. (Getty Images)

If necessity is the mother of invention, motherhood is the inventor of organization. Anyone who’s become a parent knows that if you thought keeping your house and life pulled together before kids was tough, lookout Baby! Here comes chaos.

Although nothing can prepare you for the upheaval, Ría Safford’s new book, “The Organized Home for New Parents: Create Routine-Ready Spaces for Your Baby’s First Years,” out this month from Blue Star Press, gives new parents a running start.

The Dallas mother of three left a corporate job when her first child was born and started her organizing company that year. “This did not come easy,” she said. “I’m a naturally messy person, but I couldn’t keep flying by the seat of my pants.”

Her experiences inspired this new, richly photographed book for parents with kids between newborn and two.

“Everything else about babies is really out of our control, but this book is about what you can control,” she said. “It’s (a) girlfriend guide. I took my mistakes and moments and wrote about them. If I’d had this book when I started having kids, my husband and I would have had a lot fewer arguments.”

Among the suggestions Safford offers to soften the baby blow:

Get ahead of the stuff: “Most expectant parents don’t realize their home’s inventory is going to triple,” Safford said. “These small humans come with so many things: bouncy chairs, sensory toys, cribs, car seats, strollers, diaper bags, clothes and incoming gifts.” Have a plan for where it all will go.

Don’t make the nursery a storage area: The nursery should have only what you need for the baby’s current stage. Separate infant wear from clothes the child will grow into. Put the larger items, washed and ready to wear, in bins labeled by age (12-18 months, 2T) in another room, the garage or on a high shelf in the nursery.

Master the change: The goal when setting up a changing table is to make those 2 a.m. diaper changes as easy as possible. Organize this hard-working surface so you can reach everything you need in the dark when you’re half asleep. Keep the top stocked only with essentials: diapers, wipes, a toy to amuse baby while you’re changing, a diaper disposal in easy reach. In the drawers below, store clean onesies, pajamas, swaddling blankets and crib sheets for those major blowouts.

Manage the inventory: Label drawers and shelves (0–3-month onesies, swaddle blankets, zip-up sleepers), so everyone who cares for the baby can easily find items and put them away. Keep a “too-small” bin in the baby’s closet. As clothes stop fitting, drop those still in good condition in the bin. When you reach the top, that’s your cue to store the items (if you plan on another child), give them to a friend or donate them.

Have a catchall basket: Outside the nursery, baby stuff has a way of taking over. The family living area may start the day in order, but by 4 p.m., it’s a hurricane of blankets, rattles, baby books, toys, teeny socks, teething rings, mini shoes and Goldfish crackers. To reclaim the space (and your sanity), keep a big basket in the main living area and drop all the randoms items in it to put away later (in their labeled places).

Rotate toys as they age out: Just as with outgrown clothes, when kids outgrow certain toys, store them for the next baby or give them away. Otherwise, trust me, they will take over your house. If the child is just bored with certain toys, but not ready to say good-bye, rotate them.

Entertainment centers: Anyone who has had a baby knows, accomplishing anything beyond baby care is a feat. The solution is having an area in every room to safely entertain the baby while you cook, get dressed, or do laundry. A low cupboard in the kitchen with toys, for instance, or a bin of toys under the bathroom sink can buy precious minutes.

marnijameson.com.

Source: mercurynews.com

Apache is functioning normally

The holidays are upon us, and our thoughts turn to shopping, eating and decorating. But safety is never far from our minds. Keeping the holidays fun and safe takes a little prepping and planning. Here are eight holiday safety tips to keep you and yours healthy and safe as you head into the jolliest of seasons.

1. Avoid delivery dramas

The holidays are prime time for thieves. The USPS delivers more than 28 million packages per day for the 10 days before Christmas. Here are a few holiday safety tips to keep your packages secure:

  • Install a safety camera or video doorbell
  • If there’s not one in your building, talk with your landlord or property manager about creating a dedicated package room with a door
  • Get to know your neighbors as a lot of folks are working remotely. They could keep an eye out for deliveries.
  • Add delivery instructions to packages such as leaving them in a spot where no one will notice them

Employ one or more of these tactics to keep your holiday goodies safe and out of the hands of would-be thieves.

2. Don’t fan the flames

Candles and fireplaces are romantic but can also become problems if you don’t take precautions. Keep children and pets away from burning candles and lit fires and always remember to snuff out candles before going to bed. If you do have little ones, consider using battery-operated candles and flameless tea lights for that warm glow.

If you want to make a fire, ensure your fireplace flue is open and keep the damper open until the fire is out. Clear away any flammable clutter — books, magazines, draperies, furniture — before lighting the fire. Keep a screen in front of the fireplace at all times. Make sure the fire is completely out before you go to bed or leave the house.

While the risk of fire attributed to Christmas trees is small — about 160 fires (out of roughly 358,500 home fires) according to the National Fire Protection Association (NFPA) — it’s still something you should consider. Most of those fires involve real trees, which is why many apartment buildings do not allow tenants to use living trees for the holiday (check your lease agreement or with your property manager or landlord before dragging home a tree from the local scouts).

Keep your Christmas tree at least three feet from fireplaces, radiators and other heat sources. Make sure you keep up with the watering. There’s nothing worse than stepping with your bare feet on dry, spiky needles — except those dry, spiky needles catching on fire.

Unplug the lights if you leave the house and before you go to sleep. If you purchase an artificial tree, make sure it has a fire-retardant label. And if you have a metallic tree, never decorate it with electric lights. If the lights are faulty, the tree can become charged and anyone touching it could be electrocuted.

And this might be the biggest holiday safety tip of them all: Once the holidays are over, don’t wait too long to take down your tree and lights. Not only will it be safer, but it will make your neighbors happy.

3. Tame your travel troubles

If you’re heading out of town for the holidays, there’s a lot to think about beyond directions for getting over the river and through the woods.

Make sure your car has a roadside emergency kit that includes items such as blankets, a first aid kit, a tool kit, a small shovel, a flashlight and extra batteries. Keep a few gallons of water on hand.

Holiday gatherings are what the holidays are all about, and they often involve alcohol. Seems like this holiday safety tip should be a no-brainer, but, always name a designated driver or take an Uber, Lyft or taxi home.

We’re still facing the effects of the pandemic. When you stop at roadside facilities, wear masks and avoid crowds. The CDC still recommends staying at least six feet from people who are not traveling with you. Wash your hands often.

4. Ditch your decorating dilemmas

From fires to choking to cuts and poisoning, decorating your home for the holidays is a minefield of potential hazards.

That box of old decorations may no longer be safe: broken lights and wires are an electrical hazard; older tinsel might be lead-based; aging angel hair is abrasive to your skin. And breathing in spray-on artificial snow can cause everything from a headache and nausea to difficulty walking and heart palpitations.

Read the labels for proper use of these products or update your box of decorations with some newer products that have safety labels from an independent testing laboratory.

Take extra precautions if there will be children around. To you it’s a decoration, but to them, the colorful baubles look like candy. Keep trimmings out of reach and avoid those that are easily breakable or sharp.

And take care when decorating. Remember that chairs are not ladders. There are about 200 decorating-related injuries every holiday season — usually involving a fall.

5. Lose lighting liabilities

With its tangle of wires, peering into your holiday decorating box is like looking into a snake pit. The U.S. Consumer Product Safety Commission suggests you check light strings for broken bulbs, frayed wires, cracked sockets and loose connections. Replace damaged ones and don’t use more than three standard-size sets of lights for each extension cord. Keep “bubbling” lights away from children. These lights have a chemical that’s hazardous if ingested.

Here’s a simple holiday safety tip for your lights: If you’re hanging lights outside, make sure they’re securely fastened to the house, trees or walls to protect them from wind damage.

6. Set shopping safeguards

Don’t forget that thieves also have holiday wish lists, and they don’t go on vacation between Christmas and New Year. (Although they are less active on Thanksgiving.) You don’t want to make it easy for them, so keep these holiday safety tips in mind when you’re shopping.

If you’re out with your car, park in a well-lit area and stow any purchases in the trunk. Pay attention to your surroundings. Thieves often troll parking lots and wait for the right moment — like after you’ve unloaded your packages and you head back into the mall. Be sure to lock your car and don’t leave your fob behind.

Use electronic payments as much as possible, and don’t carry around too much cash. Check your bank statements regularly to make sure your purchases and only your purchases are accurately recorded.

If you’re shopping online, be alert for scams. Make sure you’re on a reputable site before you hand over your credit card number. (And, if you can, use a credit card that’s designated for your online purchases.) This holiday safety tip should be followed all year round: When you get emails announcing great deals, don’t click on any links. Check out sites separately and never through an unsolicited email.

7. Cut out cooking calamities

Cooking fires top the list of residential fires, and according to the Consumer Product Safety Commission, three times the average number of daily cooking fires occur on Thanksgiving Day (about 1,700 each year). For fire safety, always have a fire extinguisher on hand and use it to smother flames (don’t use flour or water). Remember to turn pot handles toward the back of the stove, and don’t wear loose clothing while you cook.

Frying turkeys has become increasingly popular at holiday time. The NFPA reports that these deep fryers cause an average of five deaths, 60 injuries and more than $15 million in property damage each year. If you use one, don’t leave it unattended and don’t overfill it. Wear safety goggles, closed-toed shoes and use the fryer outdoors, making sure it’s far from flammable materials.

Practice good food safety. Wash your hands often, separate raw meat from produce, cook all meat to the right temperature and refrigerate leftovers within two hours of serving.

8. Consider holiday safety tips for pets

The holidays are exciting but dangerous for pets. They love shiny objects. Lots of guests “accidentally” share food with them. Beware of the following, especially:

  • Tinsel: It’s not poisonous, but if your dog or cat eats it, the tinsel can get stuck in their teeth or stomach. It may cut or bunch up in their intestines. If you think your pet had a tousle with tinsel, get your pet to the vet’s office right away.
  • Toxic foods: Chocolate, grapes, raisins, currants and macadamia nuts can all be toxic to both cats and dogs. The iKibble app offers information on what foods are toxic for dogs, as well as the general healthiness of foods.
  • Mistletoe and holly: If your pet eats these, they may get diarrhea and vomit. Never a good look on Christmas morning. Feature these plants in places your animals can’t reach.
  • “Adult” party substances: A jolly night for you and your friends is downright dangerous to your pets. Keep alcoholic beverages and marijuana (now legal for recreational use in 19 states) stowed away. Clean up anything that might have hit the floor. No one likes a hangover, and you certainly don’t want to spend precious holiday time off at the emergency vet’s office.

Keep your furry friends in mind as you set up your holiday decorations. They want happiness and healthiness this year, too.

Take extra precautions by following these holiday safety tips

With COVID still an issue, you’ve got an additional layer of concern this year. We’re all looking forward to gathering in person, but we still need to be cautious. Schedule smaller gatherings. Ask people about their vaccination status and determine what works for you. Wear a mask when you’re in a crowd and shop online if you’re uncomfortable being among the throngs of shoppers.

Be healthy, be safe and happy holidays to all.

Stacey Freed is an award-winning writer and former senior editor for Remodeling, a trade publication focused on the business of the remodeling and construction industry. As an independent writer, she continues to write about the building, design, architecture and housing industries. Her work has appeared in Better Homes and Gardens and USA Today special interest publications, Realtor magazine, This Old House, Professional Builder and online at AARP, Forbes.com, House Logic and Sweeten.com among other places.

Source: rent.com

Apache is functioning normally

Not only are SUVs spacious, but many are also family vehicles, so they come with high-end safety features. These features make some SUVs cheaper to insure than other popular vehicles on the market. The Subaru Outback takes the top spot on this list, and it’s also rated one of the safest midsize vehicles by the Insurance Institute for Highway Safety.

SUV

Average Annual Premium

Subaru Outback

$1,603

Honda CR-V

$1,635

Honda Pilot

$1,726

Ford Escape

$1,734

Honda Odyssey

$1,735

What Factors Make a Vehicle Expensive to Insure?

The primary factor that makes a vehicle more expensive to insure than another is the risk. Insurance companies calculate the risk for different vehicles based on how many claims people file for those vehicles, plus the cost of the repairs. While this data can’t predict the likelihood of someone getting into an accident, the data gives insurers a rough idea.

Insurance providers look at how much a vehicle costs to repair and the likelihood of the vehicle being in an accident. For example, insurance rates are higher for sports cars because people who buy sports cars are more likely to speed and drive recklessly, based on the data.

Some of the most common factors that make vehicles more expensive to insure include:

  • Vehicle age: An older vehicle may not have the newest safety features, but premiums may be lower on some older vehicles if the average repairs cost less.
  • Vehicle value: When cars are more expensive, they’re often more expensive to insure as well.
  • Cost of parts: Some vehicles have more expensive and specialty parts, which cost more to replace if the vehicle is in an accident. Various trim features in a vehicle can also raise the price of premiums.
  • Safety rating: Many insurance policies also cover physical injuries to you or another driver, which is why safety ratings play a major role in determining the cost of insurance.
  • Size: Although a larger vehicle may be safer, it can also cause more damage if it’s involved in an accident.

Most Expensive Cars to Insure

If you’re thinking about purchasing a new or used vehicle, it’s helpful to know which types of vehicles typically have the highest rates. They include:

  • Sports cars
  • High-end luxury vehicles
  • Electric vehicles
  • Cars that attract thieves

These vehicles are more expensive than others primarily due to the overall cost of repairs. For example, while electric vehicles may save you money on fuel, the cost of the battery can range from $4,000 to $20,000. There are also certain vehicles that thieves commonly target. A recent article from MoneyGeek[1]  listed the following as the top 10 most stolen vehicles in America:

  1. Chevrolet trucks
  2. Ford trucks
  3. Honda Civic
  4. Honda Accord
  5. Toyota Camry
  6. GMC trucks
  7. Nissan Altima
  8. Honda CR-V
  9. Jeep Cherokee and Grand Cherokee
  10. Toyota Corolla

5 Tips to Get Cheaper Car Insurance

Whether you want cheap insurance for your new vehicle or to lower the rate for your current vehicle, these five tips may help.

  1. Be a good driver. This sounds obvious, but it’s a must. When you’re a good driver, you save money on insurance. This means avoiding car accidents, DUIs, and other major violations.
  2. Consider the insurance cost when buying a new vehicle. A vehicle’s make and model alone can make car insurance more expensive. Remember this when you’re buying a new vehicle, because not only will you have monthly car payments when financing a car, but you’ll also have insurance premiums.
  3. Shop around. Like many other expenses and purchases, it’s a good idea to get multiple quotes before settling on an insurance company.
  4. Look for discounts. Some insurance providers offer discounts, so be sure to ask. You may also receive discounts for bundling your auto and home insurance through one provider.
  5. Improve your credit score. Your credit score may impact your car insurance rate, so make sure you watch for derogatory marks on your credit report that can lower your score.

FAQ

Here, we go over some of the most common questions people have about car insurance rates.

What Type of Car is the Least Expensive to Insure?

Subaru holds the top two spots for the cheapest cars to insure: the Subaru Outback and the Subaru Crosstrek.

Why Are Some Cars Cheaper to Insure?

Some cars are cheaper to insure because they’re cheaper to repair, have better safety features, and are a low-risk for insurance providers based on their data.

Is Insurance Cheaper for Older Cars?

Insurance for older cars is not necessarily cheaper than newer cars. If an older vehicle is more expensive to repair or has poor safety features, it may have higher rates. on the other hand, older vehicles that meet current safety standards and are inexpensive to repair may have lower rates than some newer vehicles.

What’s the Most Expensive Car to Insure?

Out of the top 25 most popular vehicles in the United States, the Tesla Model Y is the most expensive car to insure, and the Tesla Model 3 is the second most expensive.

How Your Credit Score Affects Your Car Insurance Rate

Many people don’t realize that not only does your credit score affect the cost of your vehicle, but it can also affect your insurance rates. If you have derogatory marks on your credit report from late payments, missed payments, or collections, you may face higher insurance premiums.

Before you shop for auto insurance, it’s helpful to know your credit score. You can receive a free credit report card at Credit.com, and our ExtraCredit® subscription offers even more credit management tools.

Methodology

Data was sourced from Quadrant Information Services and provided to NerdWallet[1]  and Bankrate[2] . Both studies analyze data from ZIP codes throughout all 50 states and Washington, D.C., and are weighted based on geographic region and population.

NerdWallet’s research used data from Kelley Blue Book for the top 25 best-selling models, along with rates from different ZIP codes in the United States. NerdWallet based its data on both male and female drivers 35 years old with good credit and clean driving records using the following coverage limits:

  • $100,000 bodily injury liability coverage per person
  • $300,000 bodily injury liability coverage per crash
  • $100,000 property damage liability coverage per crash
  • $100,000 uninsured motorist bodily injury coverage per person
  • $300,000 uninsured motorist bodily injury coverage per crash
  • Collision coverage with $1,000 deductible
  • Comprehensive coverage with $1,000 deductible

The Bankrate study analyzed rates for a 40-year-old female and male who have clean driving records and good credit. Rates are for full coverage and are based on the following limits for a 2021 Toyota Camry that drives five days per week and roughly 12,000 miles per year:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

Source: credit.com

Apache is functioning normally

Well, mortgage rates are still rock bottom. In fact, the 15-year fixed-rate mortgage actually hit a new all-time low this week, falling to 3.11%, per Freddie Mac.

So who’s actually benefiting? Well, a new loan origination report from Ellie Mae breaks it all down for us to see what’s working and what isn’t.

The data looks at loan applications from February, and it’s rather robust, with about 20% of all mortgage apps in the United States flowing through Ellie Mae’s Encompass360 mortgage management software.

Average Fico Score 750

I always highlight credit score as being one of the most important aspects of qualifying for a mortgage.

Without a solid credit score, it doesn’t really matter if you have $1 million in liquid assets and a job that pays you $200,000 a year.

[What credit score is needed for a mortgage?]

Banks and mortgage lenders still want to know that you will meet your obligations on time every month. Heck, even if they do grant you a mortgage, a low credit score will mean a higher-than-market mortgage rate. And who wants that?

That said, the average Fico score for all funded loans in February was 750, which is up from 740 six months ago.

Meanwhile, the average Fico score for denied loans was 699, which is still pretty high in the grand scheme of things.

In other words, lenders expectations keep on rising, so if you want the low mortgage rates, you need to clean up your act.

Average LTV 76%

Meanwhile, the average loan-to-value ratio on closed loans was 76%, which means most homeowners had nearly 25% equity in their homes.

It was also down from the 79% average seen back in August.

Sure, there are programs for borrowers who are underwater on their mortgage, such as HARP phase II, but most loans are still going to those with adequate home equity.

And remember, the lower your LTV, the better your chances or securing a low mortgage rate, and approval for that matter.

For conventional loan purchases, the average buyer put down 22% and had a 764 Fico score. Wow. Talk about no-nonsense lending.

DTI Ratios of 23/34

Ellie Mae also noted that the average front-end debt-to-income ratio for loans that funded was 23%, meaning less than a quarter of gross monthly income went toward the monthly housing payment.

And the mortgage plus all other monthly liabilities only accounted for 34% of gross income for approved borrowers.

For comparison sake, those who got denied had ratios of 28/44, which meant homeowners were spending nearly a third of income on their housing payment.

Bring It All Together

Overall, 48% of all loan applications eventually closed, and there was a higher percentage of purchase closings (60%) than refinances (42%)

[7 reasons why you can’t refinance your mortgage.]

Still, the refinance share of applications (67%) dominated purchases (33%), but clearly not all the refis are working out.

Layered risk comes to mind, that is, the combination of a lower-than-average credit score, coupled with higher-than-average DTI and LTV ratios.

This is essentially what mortgage underwriters look for, so it’s imperative that you don’t present too much default-risk when applying for a mortgage.

The average loan that did eventually fund took 44 days, from application to closing.

In summary, step up your game folks. Lenders want quality these days…

Source: thetruthaboutmortgage.com