NEIGHBORING CAMPGROUND … OR STORING DEBRIS IN THE AREA./// MORE JOBS ARE COMING TO LIBERTY COUNTY! A COMPANY ANNOUNCED TODAY – IT HAS PLANS TO BUILD A NEW 15-MILLION DOLLAR FACILITY IN MIDWAY. “CREATIVE HOME IDEAS” SPECIALIZES IN DISTRIBUTION AND MANUFACTURING OF HOME DECOR. THEIR EXPANSION INTO LIBERTY COUNTY WILL PROVIDE ABOUT 70 NEW JOBS. THOSE WITH THE COUNTY DEVELOPMENT AUTHORITY .. SAY THE BUILD WILL HELP CREATE MORE DIVERSE EMPLOYMENT OPPORTUNITIES .. AND PROMOTE A BETTER QUALITY OF LIFE FOR RESIDENTS. THEY’RE ALSO REASSURING THAT MAJOR NEARBY INFRASTRUCTURE PROJECTS …WILL MOVE FORWARD AT THE SAME TIME. <> “WE’VE BEEN WORKING VERY DILIGIENTLY, EVEN BEFORE THIS ANNOUNCEMENT, TO IMPROVE THE ROADWAY THERE FOR THE INDUSTRIAL PARK. SO IT’S ALL KIND OF COMING TOGETHER ALL AT THE SAME TIME. WE KNOW IT’S GONNA TAKE SOME TIME – GOVERNMENT DOESN’T MOVE FAST – IT TAKES SOME TIME FOR GOVERNMENT TO WORK. BUT THE PLANS ARE IN TOW TO IMPORVE THE THOUROUGHFARE BETWEEN THE INDUSTRIAL PARK AND I-95.” THE NEW FACILITY WILL BE LOCATED AT 1962 SUNBURY ROAD
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Home décor company set to hire 70 workers in Liberty County, invest more than $15 million
Operations are expected to begin in 2024.
Updated: 8:53 AM EDT Apr 19, 2023
Digital Media Manager
New jobs are on their way to Liberty County.On Tuesday, Georgia Gov. Brian Kemp announced that Creative Home Ideas will create 70 jobs and invest more than $15 million into a distribution and light manufacturing facility in Liberty County. TRENDING STORIESSouth Carolina inmate died after taking drugs prescribed by the jail. Now his family is suingPolice charge 20-year-old woman with murder following deadly Vidalia stabbingConvicted felon sentenced to decades in prison after admitting to killing 70-year-old Beaufort womanStarted in 1981, Creative Home Ideas is a family-owned business that specializes in designing, manufacturing and distributing home décor. The company’s collections include bedding, bath, kitchen, window treatments, decorative pillows, throw blankets and rugs.The facility will be located at 1962 Sunbury Road in Midway. Operations are expected to begin in 2024. The company will be hiring for light manufacturing, warehouse, shipping, customer service and back office personnel. Those interested in the positions can learn more by emailing here.
LIBERTY COUNTY, Ga. —
New jobs are on their way to Liberty County.
On Tuesday, Georgia Gov. Brian Kemp announced that Creative Home Ideas will create 70 jobs and invest more than $15 million into a distribution and light manufacturing facility in Liberty County.
Advertisement
TRENDING STORIES
Started in 1981, Creative Home Ideas is a family-owned business that specializes in designing, manufacturing and distributing home décor. The company’s collections include bedding, bath, kitchen, window treatments, decorative pillows, throw blankets and rugs.
The facility will be located at 1962 Sunbury Road in Midway. Operations are expected to begin in 2024. The company will be hiring for light manufacturing, warehouse, shipping, customer service and back office personnel. Those interested in the positions can learn more by emailing here.
I write a lot about saving money. Like many of you, I’ve found frugality an excellent way to widen the gap between what I earn and what I spend. Frugality helped me get out of debt, increase my monthly cash flow, and ultimately begin to build savings. Thrift is a key component to personal finance.
But to be successful, to build wealth, you must also increase your income. You might do this by changing careers, or by obtaining for a promotion, or by asking for a raise. You might invest in real estate. Or you might start your own business.
I recently interviewed Timothy Ferris, author of The 4-Hour Workweek. I’ve already shared parts of our conversation:
In this final excerpt, Ferriss and I briefly discuss the power of entrepreneurship. Entrepreneurial skills are valuable whether you own your own business or you have a traditional job. At Soul Shelter, Tim Clark recently provided an overview of entrepreneurship. “I’m a firm believer that our fortunes in life are closely bound to entrepreneurship skills, whether we’re self-employed or choose to work for someone else,” Clark writes. “Studying entrepreneurship means examining the many ways one can earn a living.”
Here then is the final part of my conversation with Tim Ferris:
J.D. My father was a serial entrepreneur. When I was a boy, he was always starting businesses. As a result, I have the entrepreneurship bug, as do both of my brothers. In many ways, Get Rich Slowly is a testament to his entrepreneurial spirit. I view it as a business. It seems to me that you are very much about entrepreneurship. Did entrepreneurship run in your family?
Tim My father has been in various types of construction and development, and also real estate — buying, selling, investing. He’s been an entrepreneur for as long as I can remember, in that respect. He’s always owned his own business. My mother, on the other hand, has worked for Suffolk County, which is part of Long Island, in health services doing physical therapy for geriatrics for the last thirty years.
I feel like I’ve seen the best and worst of both of those worlds — the highly institutionalized employment and then self-employment. There’s certainly dangers and benefits to both, and I think I’ve had a pretty good [chance] to see both up close and personal. But entrepreneurship in the sense of starting businesses really wasn’t something that was recommended to me.
Part of what sparked my interest was Donald Trump’s The Art of the Deal. I think most of his books are a waste of time, but that book is extremely good. It’s all about the art of the deal and negotiating and so forth. There’s a lot of really good material, especially the dissection of his schedule. He basically walks through a typical day. Very, very interesting stuff.
When I was doing my undergrad and working in the library for $8 an hour — with no air conditioning and no ventilation in the middle of late spring — I really began to question just how scalable that approach was, even if it were $20, $30, $40, $50 an hour.
I was dyslexic at a young age, and developed coping mechanisms. I ended up being able to read extremely quickly, and to prepare for tests in some unique ways. I had friends saying, “Dude, when do you study?” There was a lot of classroom reading, and I did it, but very few people ever saw me spending more than a half hour on any given day, whereas a lot of students are spending three or four hours.
After a few people asked me this, I put together a seminar. I did the first seminar with guarantees and so forth. I had very low expectations for it, but I ended up walking out three hours later with $20 bills and checks spilling out of my pockets. When I ran the numbers, I realized that this was definitely a better model, but it was still not scalable because I had to be there teaching the seminars. I became very bored of it. After that, I started fantasizing about the different formats that a scalable business could take.
There’s a book by Entrepreneur Press called The Young Millionaires. It’s a really good book. Some of the business models are outdated now, but it basically has two to three page profiles of dozens of late twenty-something and thirty-something millionaires. It really inspired me to brainstorm different options.
J.D. So how do you come up with money-making ideas — or “muses” — that can supply supplemental income and be easy to maintain and sustainable in the four-hour workweek lifestyle? It seems to me there’s no one right answer. It depends on the individual. The Young Millionaires book sounds like it might be a sort of cookbook, or an idea factory.
Tim [I recently had the chance to ask Warren Buffet a question about investing.] If I had asked, “How should I invest my money?” I wouldn’t have received [a good answer]. I had to be very specific: “no dependents, thirtysoemthing, I can cover my expenses with other income or savings, etc.” There were a lot of qualifiers. Just like when somebody asks “How should I invest my money?”, there’s no way you can answer that in a meaningful way. The same is true with muses.
But in general, I would say studying case studies that you’ll find like mine, or The Young Millionaires would be another example, and then reading books like eBoys. I see my book as a valuable starting point so that you don’t focus on the wrong types of businesses, but it requires an analysis of your risk tolerance.
J.D. Do you have any recommendations for people who aren’t entrepreneurial, who don’t have the ability or the interest in creating “muses”? These people might prefer to save and invest instead, but are still interested in the four-hour workweek lifestyle. They’re interested in lifestyle design.
Tim I think one of the misconceptions with the book is that you have to use everything in the book. It’s really designed to be more of a menu of options for people to pick and choose from. I may go to a restaurant that I love, but I may hate half of their dishes. The fact of the matter is there’s no requirement to use “muses” whatsoever to apply the principles in the book. They’re principle-based and not tactical.
The rules in the book are really for increasing output and optimizing results regardless of whether you’re in someone else’s office or your own. That also applies to stocks. If you study The Intelligent Investor, you’ll find that the principles and concepts and the rational deconstruction of things that are made complex — because the croupiers and other people can make money by making it complex — it reads very similarly to The 4-Hour Workweek.
By focusing within an organization on using the proper metrics to measure your own performance, improving those metrics, doing 80-20 analysis, then you can increase your value within the company, and document it in such a way that you can then have more leverage to do things like take mini-retirements or work remotely one or two days a week or have a four-day work week (which many people have done) or simply to eliminate work on the evenings and weekends.
Then [one can] apply the same rational framework to investment. They’re completely applicable and adaptable to someone who has no interest whatsoever in starting a business. I’d say that the vast majority of the people who have used the book work within organizations.
Timothy Ferriss, nominated as one of Fast Company’s “Most Innovative Business People of 2007,” is author of the #1 New York Times, Wall Street Journal, and BusinessWeek bestseller, The 4-Hour Workweek.
America is more than a little dog crazy: The percentage of households with a canine rose from 38.4% in 2016 to 44.5% in 2022. Owning a dog can be one of life’s great pleasures, whether you choose a tiny toy Poodle or a mega Great Dane as your new best friend.
But amid imagining all the cuddles and sloppy kisses, many prospective pooch parents aren’t fully prepared for the expense of owning a pet. You might wonder: “How much should I budget for a dog?”
This can be an important question because not only can dog ownership be a huge personal commitment, it can also be a considerable financial investment too. The initial first-year investment has been estimated at between $1,135 and $5,155.
If you’re contemplating bringing home a new pooch, here’s the information you need to know about budgeting for a dog and how much it really costs.
Adoption Costs
The initial cost of adopting a dog can vary greatly depending on if the dog comes from a shelter or purchased from a breeder. As a range, however, Animal Humane Society sets its standard dog and puppy adoption fees between $215 to $414.
The fee cost varies, as some dogs (such as purebreds) are in higher demand and the organization needs to cover the cost of caring for animals who may take longer to adopt out (such as older dogs).
At many pet rescues, adoption fees also cover the cost of extra services, like a pet physical exam, deworming, spaying or neutering, or common vaccinations.
Meanwhile, buying a Goldendoodle from a breeder costs an average of $2,200. Purchasing a pet from private breeders, often, does not come with the extra services that some non-profit rescues cover. So, if an owner is considering the breeder route, the out-of-pocket cost of future medical visits, may be one more dollar sign to add to the eventual pet budget. This can help you know how much to allocate towards your new companion so you can avoid ending up with credit card debt.
Recommended: Tips to Save Money on Pets
Food and Treats
Some of the tiniest puppies can morph, in just a few months or years, into heftier eating machines. Young puppies can grow quickly. And, all that fast growth can mean they’ll eat…A lot.
So, food and treats can also play a significant role in your personal budget when you bring home a furbaby. Individual dog budgets can vary based on the size of the pooch and type of food each owner opts to feed their pet. Food choices might include dry kibble, wet food, a raw food diet, or some mix of each.
What to feed a dog is all a personal choice between the owner and their veterinarian. However, if someone is looking to estimate the potential cost of feeding a new dog, a recent survey estimates that pet parents can expect to spend about $287 a year on dog food and $87 on treats.
Recommended: Ways to Save Money on Food
Toys
Toys may seem like a silly little add-on, but they can play an important role in puppy development and adult dogs’ mental stimulation.
Toys can help dogs fight boredom when they are left at home alone and comfort them if they’re agitated. (With toys to gnaw on, dogs may be less likely to turn to shoes for a midday distraction.) Rather than investing in pricey toys, a simple tennis ball will satisfy many dogs. And, a dog owner can grab a can of three tennis balls on Amazon for about $4.
However, the cost here can also depend on just how quickly an individual dog chews through the balls. Some doggos do a great job of tearing them apart. So, a pet owner may want to budget a small amount, say $50 a year or so, to buy their pooch some toys.
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Pet Sitters or Walkers
Taking a vacation with a pet? Then pet sitting isn’t an expense. But for many people who work outside the home or travel without Fido, it may be a good idea to consider a dog walker or pet sitter. This person can be a trusted friend or family member, a neighbor, a kid down the street, or a professional service.
Even if it’s a friend, a new pet owner may want to budget in some dollars to pay this person. Doggie daycare can run $30 or more per day, so it can be helpful for owners to know how many days each month they might need a dog sitter. A typical pet sitter will charge at least $30 a day to attend to your pup.
Recommended: Tips to Cut Costs When Traveling with Pets
Incidentals
A lot of smaller expenses can come with owning a dog. Incidentals to budget for include things like, collars, leashes, dog beds, cleaning supplies, crates, pet bath products, and the all-important groomer.
Some may want to build in another cushion in a pet budget to cover the above-mentioned items, too. Pet I.D. tags and registering a pet with the city are extra costs to bear in mind. (For reference, it can cost between $8.50 and $34 a year to obtain a dog license in New York City.)
Routine Medical Visits
Dogs, like humans, need regular medical check-ups, so “How much will it cost?” is a wise question to ask when budgeting. Just like a human exam, dogs need blood drawn to check for diseases, routine vaccinations to prevent disease, and a general physical exam once a year to make sure their health is in working order.
Some pet organizations estimate this visit can run a pet owner between $210 and $260, but it can vary greatly depending on where the person and the pup live (and the age or breed of the dog). Given that variation, it can be helpful to budget at the higher end of that range (just in case).
Beyond the vet visit, pet parents may also want to add in a budget for preventative medicine. Depending on where an owner lives, a veterinarian could recommend a monthly flea and tick medication, along with regular heartworm medication, to prevent the dog from becoming afflicted. Flea and tick meds can range from $40 to $200 a year while heartworm medication averages $80 a year, and treatment, if your pet is diagnosed, can cost $400 to $1,000.
Pet Insurance
While pet insurance won’t cover routine veterinary visits, it could come in handy if an emergency occurs with the pup.
For example, a new dog could eat something that causes it to get sick — like, ingesting pieces of a chew-toy or snatching food with bones in it off an owner’s plate (or street).
Many pet insurance plans will cover a portion of medicines, treatments (including surgeries), and medical interventions that aren’t tied to a pre-existing condition.
Paying monthly for pet insurance, while the dog is young, could save an owner hundreds or thousands of dollars as a dog continues to age as well. (Generally, pet insurance costs less when a dog is younger). This kind of policy typically costs between $38 and $56 per month.
Pet insurance may cover things like ingesting harmful items or food, accidents, urgent care, and — in some cases — preventative medicine. The cost of pet insurance can vary by breed, age, and any other health history.
Emergency Fund
It can be wise to save up an emergency fund for pet-related expenses. Things just tend to happen with dogs around. They can accidentally knock things over with their tales, swallow objects. and need an emergency vet visit. Dogs can do a lot of damage in a short amount of time (ahem, chewed up leather shoes, ahem).
But, guess what? Having some financial discipline and going to that trouble can be worth it for a lick on the face, a little playtime, and coming home to a happy dog. Planning ahead for a pet budget can help new owners focus on those tail-wagging moments with Fido instead of stressing over canine costs.
The Takeaway
Saving in advance can make adopting and then caring for a dog easier. A SoFi Checking and Savings Account can be a great place to stash your money. It includes budget tracker tools, charges no account fees, and offers a competitive annual percentage yield (APY).
Ready to adopt a pup? Track your spending (and establish a dog budget based on your habits) with SoFi Checking and Savings.
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.
SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 1.20% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 4/25/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. 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. Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners. SOBK0423060
Sustainable fabrics that are taking over home décor – Luxebook
Sustainable fabrics that are taking over home décor – Luxebook
Home LifestyleSustainable fabrics that are taking over home décor
By Arushi Sakhuja
With sustainability being the need of the hour, many luxury brands are continuously trying to show new and innovative ways to reduce their carbon footprint. With the coming up of thrift stores, new fabrics (such as organic cotton and vegan leather), producing zero waste, cruelty-free manufacturing processes and reduced water technology, and renewable energy sources, as well as adopting a transparent supply chain; brands are working hard to adopt more eco-friendly modes of production. According to Saachi Bahl’s, Founder Saahra and #ConsciousEffort Design Show and Conclave, one must acknowledge that there is no unilateral, linear, or perfect formula to be ‘sustainable’. She says….. “It is a complex process, and many times strategies are dependent upon the context of the business, its production and utility. Therefore, we must be receptive to more people in the industry approaching the subject and give them the scope to continually improve their efforts as there is no one size fits all.”
It is worth bearing in mind that practices like repairing old weaves, recycling or upscaling can go a long way in giving back to the planet. And sustainable fabrics have come a long way, one must acknowledge that sustainable products do not lack lustre and finesse anymore. Rather, there is a rise in the innovation of new fabrics increasingly used by luxury brands such as Gucci, Stella McCartney, Tommy Hilfiger and Bottega Veneta. Décor brands like Kar Conscious Living focusses on the importance of Indian textiles through raw fabrics and subtle designs, showcasing the essence of their weaves. More and more home décor brands are using materials like organic bio-washed cotton and handwoven wool.
Selecting the right fabric
Saachi Bahl
It’s always good to check what goes into the making of our home décor pieces. We’re still a long way from reducing our consumption to optimum levels, so the least we can do is make eco-friendly shopping decisions. That includes digging into the environmental practices of the brands you love and finding out how ethical they truly are in their production and manufacturing processes. “Decor and fashion have always been sectors that other industries look to for ‘what’s next’. Fashion designers have an incredible opportunity to not only reach but consciously influence consumers and other industries by choosing to create with the end in mind, choosing a material like ECONYL® nylon that can help brands close the loop,” said Giulio Bonazzi Chairman and CEO at Aquafil Group.
Trend-related shopping cycles take a toll on the environment. Home furnishing-related individual buying decisions can also play a crucial role in our carbon footprint. Globally, the furniture market is worth approximately $ 575 billion. Manufacturers deploy vast amounts of resources to meet high demands, including trees, plastic, cotton, fibre and toxic chemicals, and hence the rise of fast furniture further complicates the sustainability dilemma. Contrary to what is believed, creating a home with the planet in mind does not require sacrificing comfort, style or budget. We can curate spaces by choosing earth-friendly materials and optimising sunlight, airflow and ventilation to reduce our daily impact.
How are materials sustainable?
You most likely would have encountered a few new terms like Econyl, Cupro and Lyocell. You know they’re good for the environment because that is the information we are given. But what exactly are these so-called sustainable fabrics that are taking over our world? Luxury labels are shifting their focus to vegan leather and recycled materials. And the fabrics you grew up with simply don’t cut it anymore. “There is a plethora of new materials that designers and textile manufacturers are working with to make fashion more sustainable. Bamboo and banana fibre, leathers made from plant-based materials, and even sustainable silk are being devised. Along with all these innovations, it is vital to remember to buy from accountable and transparent brands, buy less and buy better, and re-wear, repeat and repair your clothes,” believes fashion designer Nachiket Barve. Saachi Bahl’s Saahra Sustain offers womenswear classics handcrafted in GOTS-certified cotton or peace silk, shoes from plant-based bio-leather called Pinatex, collections made from Econyl and even bags made from cork. On the design side of things, brands are using reclaimed and waste materials that have led to the creation of unique products and the design world is excited to further explore this avenue. Redefining this space, sustainable home decor brands and designers show us the beauty of old is gold.
ECONYL
Econyl
Econyl is making its presence strongly felt in the market. The fabric was pioneered by the Italian company Aquafil in 2011 and is a recycled nylon fibre that is regenerated from plastic trash in the ocean, such as fishing nets, discarded bottles and industrial waste. Aquafil cleans and shreds this waste through a chemical purification process to extract pure nylon. That means that the resulting fibre, Econyl, is no different from virgin nylon. Giulio Bonazzi Chairman and CEO at Aquafil Group gets his passion for sustainability from his native place, a beautiful area in the middle of the mountains of Italy (Dolomites and Alps) near Garda Lake. The place taught him to love, value and respect the beauty that surrounds you. We spoke exclusively to Maestro himself to know more about the material. “ECONYL® is regenerated nylon 100% with a different story. It comes from nylon waste such as fishing nets, fabric scraps from mills and carpets destined for landfills. It is used for apparel, carpets, and other interior design products. And it has exactly the same performance as fossil-based nylon.”
Aquafil econyl
The pace at which brands are adapting to the material is impressive and currently, Aquafil, with ECONYL®, collaborates with more than 2500 brands in the world. “As consumers continue to stay aware of material ingredients, it’s important that brands choose supply chain transparency. This will not only empower the consumer, but will also invite designers to tap into a new level of innovation and creativity. And this is why brands are choosing sustainable ingredients like ECONYL® nylon for their collection,” shared Bonazzi. ECONYL is mostly known by customers due to pieces offered by Adidas in its 2017 collaboration with Parley, Prada’s line of bags made with the fabric in 2019 — Re-Nylon and Gucci and Burberry have also used Econyl in their outerwear pieces and accessories, including the latter’s iconic trench coat. “Brands are using Econyl across different product categories like swim/resort to luxury. It is coming with the functionality of a virgin material making it good for fashion and the planet,” said Saachi Bahl.
ECONYL is also used for home décor by brands such as Noho, a New Zealand-based eco-chic brand that creates durable and dynamic chairs made with materials from discarded waste. Alcarol in nature creates functional home décor pieces while preserving the natural materials as they would appear in their respective habitats. From the dining room and coffee tables to consoles and shelving, each creation replicates a distinctive landscape, bringing depth, perspective and beauty into your living spaces. Finally, Rols, a Spanish carpet manufacturing brand since 1917, integrates ecological materials such as wool or jute, and ECONYL® regenerated nylon into their designs, believing that ‘quality goes hand-in-hand with treating the earth with respect’.
Rols
Cupro
Another sustainable fabric that is fast gaining popularity is cuprammonium rayon, also known as Cupro. This is a plant-based fabric made from cotton linter, which is a waste product of cotton that’s often discarded. It can also be derived from recycled cotton garments, especially T-shirts. Cupro as a fabric is fine, sheer, smooth, soft to the touch, hypoallergenic, stretch-resistant, durable and dries quickly. Some even call this fabric Vegan Silk. Amouve procures organic cotton directly from Indian farmers and this practice has also led to less usage of water as compared to regular cotton. The brand offers a range of products comprising organic cotton bedsheets, towels, pillows, organic kapok mattresses and waffle blankets among others.
Kar Conscious LivingAmouve
Lyocell
Ethical bedding
Lyocell (also known as Tencel) is a plant-based fibre that was introduced 30 years ago and is mostly derived from eucalyptus wood, and sometimes oak and birch wood. To create the material, the wood is ground into a pulp and chemically purified to extract raw cellulose. The liquid is then pumped through spinnerets into Lyocell fibres, which are spun into yarn and woven into fabric. Lyocell fabric is soft, breathable, hypoallergenic, and more absorbent than cotton. Eucalyptus trees grow quickly without the use of pesticides, fertilisers or irrigation, making Lyocell much more eco-friendly and completely biodegradable. The material is a great alternative to viscose and makes it great for athleisure, activewear, and everyday basics. Ethical Bedding, a UK-based brand turns organic eucalyptus and bamboo into timeless silky bedding.
How to make home décor sustainable
Rug Republic Hestia
Nand Kishore Chaudhary, Chairman and Managing Director, Jaipur Rugs Group throws light on how the carpet industry uses sustainability in its design. “We believe sustainability in the design isn’t just a trend; it’s our responsibility.”. Chaudhary goes on to explain the process followed at Jaipur Rugs. “We prioritize sustainability in every aspect of our carpet design process, from materials to production. To achieve this, we utilize leftover hand-spun yarn to create unique and creative designs, reducing textile waste. Additionally, we use low-impact dyes that are obtained from GOTS-certified and eco-friendly raw materials, making our rugs long-lasting and beautiful while minimizing the environmental impact of the production process. By using sustainable materials and working with ethical partners, we create high-quality handmade rugs that not only enhance the beauty of any space but also promote a healthier planet for future generations.”
Another brand that champions sustainability is Rug Republic. Their new collection of Floral Rugs is created with recycled materials, colours, designs and textures. “The demand for sustainable and ethically made products has led to an increase in the appreciation for handmade rugs as well, as people like to spend on products that align with their thought process and values. Having said that, the timeless beauty and craftsmanship of floral rugs have further contributed to their enduring popularity, making them a valuable addition to any home,” says Raghav Gupta, Director of E-commerce at The Rug Republic.
With climate change knocking on our front door there are three key methods to make a home more sustainable. Firstly, making the switch to regenerated nylon with the use of artisan rugs and furniture made from recycled materials, such as old carpets, abandoned fishing nets and industrial scraps can minimize waste that would otherwise pollute the earth. For example, for every 10,000 tons of ECONYL® raw material, we can save 70,000 barrels of crude oil and avoid 65,100 tonnes of CO2 equivalent emissions from being released into the air. From Jaipur Rugs and other trendy pieces like these Zanotta pouffes pick your products.
Secondly, shift to Bamboo furniture. It is a sustainable alternative to wood, and is highly versatile for furniture, flooring and light fittings, giving your humble abode a modern and eco-conscious twist. Pick a rattan table from Fleck or Orange Tree’s rattan hanging lamp.
Orange Tree Canna Hanging Lamp Double
Lastly, switch to bio-glass meaning home décor made from discarded bottles and jars, this material requires less energy and raw materials to manufacture. Bio-glass can transform kitchen countertops, bathroom sinks, walls, and windows into beautiful and unique pieces, adding charm and sophistication to your home. Renjini Thampi from Kerela upcycles glass bottles to make a variety of home decor items and Nicobar’s recycled glass section makes a strong case as well.
Nicobar recycled glass collection
“India is certainly the country that will have the most spectacular development in the coming decades. And it seems very clear not only to me that the Indian culture as well as the Indian Government and Indian consumers have a strong interest and great attention towards the conservation of the planet and in doing and thinking step by step to find the best solution. Therefore, aiming for India, I think is one of the most strategic and correct actions to take,” believes Bonazzi. To conclude Bahl believes, “the innovative material industry is evolving at such a fast pace, that it’s just fascinating the type of recyclability and plant-based materials that are available in the market.”
To conclude, daily habits such as composting food waste, cleaning with natural products, and installing solar panels, underfloor heating or double-glazed windows all contribute towards greener living.
Now in its third year, company initiative provides $100K, mentorship and resources to support qualifying high-potential Black entrepreneurs MILWAUKEE, May 4, 2023 /PRNewswire/ — Northwestern Mutual, in partnership with gener8tor, today announced the addition of five promising tech startups to its innovative Black Founder Accelerator program. An extension of the company’s Sustained Action for Racial … [Read more…]
In The Little Book of Bull Moves in Bear Markets (which I recently reviewed), author Peter Schiff provides a list of the best jobs to beat the economic collapse he predicts is just around the corner. “I foresee the following as the 10 strongest professions and industries over the coming decade and beyond,” he writes. His list:
Engineering, because the abandoned U.S. industrial base will need to be re-tooled.
Construction, to rebuild the American infrastructure.
Agriculture, as we wean ourselves from imported foodstuffs.
Merchant marine, to transport goods to foreign markets.
Commercial fishing, because demand for fish is increasing in the U.S. even as foreign supply is declining.
Energy, because we’ll need to develop alternatives to fossil fuels.
Computers and high technology, one field in which the U.S. continues to lead.
Entertainment, another industry in which the U.S. should continue to dominate the world market.
Automotive repair, small appliance repair, and the like. It’s going to become more costly to replace items, making repair a viable option.
Tailoring and textiles, because imported clothes will become scarcer and more expensive.
This list is predicated on Schiff’s belief that the U.S. economy is in massive collapse. He also lists job sectors he believes will decline sharply: the service economy, banking and finance, real estate, health care, travel and tourism, and retailing. If you have a job in one of these industries, Schiff recommends planning for a career change.
Schiff’s advice made me curious. What do other experts think are the safest jobs for riding out this recession? I did some digging to find out.
A Second Opinion
There’s actually a new book out on this subject called 150 Best Recession-Proof Jobs by Laurence Shatkin, a career information consultant. His top ten recession-proof jobs are:
Computer systems analyst
Network systems and data communications analyst
Network and computer systems administrator
Registered nurse
Teacher, postsecondary (i.e., college professors)
Physical therapist
Physician and surgeon
Dental hygienist
Pharmacist
Medical and health services manager
The San Diego Union-Tribune recently featured a profile of Shatkin and his book, in which he explains that he derived his list from government statistics. Contrast this with Schiff’s list, which is based not on past data, but on his prediction of the future. It seems to me that these men are coming at the problem from different angles, and their lists reflect that. They’re nearly opposites.
Challenger, Gray and Christmas
There are other experts with their own ideas about which jobs are best in a recession. Representatives from the outplacement firm Challenger, Gray and Christmas made the rounds earlier this year with their list of recession-proof jobs, which included the following rising professions:
Education
Energy
Health care
International business
Environment
Security and law enforcement
They also note a few jobs in which the prospects are declining:
Anything related to housing (including real estate, investment banking, engineering, and architecture)
State and local government
Industries dependent on discretionary spending (e.g. restaurants and retail)
The advice from Challenger, Gray and Christmas is slightly different than that of either of the first two lists. The only real agreement among these three different sources is that industries related to housing and to discretionary spending are in for hard times.
The Jobfox list
Finally, Jobfox, a job-matching website, has been sharing its list of the top 20 in-demand jobs based on statistics for the past year. Forbes published a version of the list, as did Business Week, which created a slide show including median salaries for these careers:
Sales representative/business development ($65,000-$75,000)
Business analysis (software implementation) ($85,000-$95,000)
Business analysis (research) ($65,000-$75,000)
Finance staff ($65,000-$75,000)
Project management ($85,000-$95,000)
Testing/quality assurance ($65,000-$75,000)
Product management ($85,000-$95,000)
Database administration ($75,000-$85,000)
Account/customer support ($35,000-$45,000)
Technology executive ($115,000-$125,000)
Electrical engineering ($65,000-$75,000)
Sales executive ($85,000-$95,000)
Mechanical engineering ($65,000-$75,000)
Government contracts administration ($55,000-$65,000)
This list points to three broad paths for those wishing to avoid the effects of the recession: management, computer science, and accounting. But again, this list is very different from the others.
Aside: Looking at these median salaries makes me a little envious. During 2007, the median salary for guys named J.D. employed by small family box factories in Oregon was $42,000 a year. I wonder how much sooner I might have repaid my debt if I’d done something else for a career…like become a “technology executive”.
Four Experts, Four Opinions
What conclusion do you draw from looking at these lists? The top lesson I get is that nobody can agree on which jobs are best for riding out a recession. As we’ve seen time and again when people try to predict the future, everybody has a different methodology, and everybody comes to a different conclusion. Nobody will be 100% correct.
I believe that in general, the most recession-proof job is the one you already have. If your current career is fulfilling and pays well, then do what you can to make yourself indispensable. Develop your skill-set. Be a valuable contributor. Keep a positive attitude. Network your way to job security. These things won’t help if your company undergoes massive lay-offs, but they will protect you from casual culling.
Check out the great views waiting for you when really look close in Charlotte.
There’s no shortage of beautiful properties across the Queen City. However, finding the right place for you in Charlotte will most likely come down to the amenities. Do you need an awesome rooftop to serve as your regular hangout? Do you need a sparkling pool to keep up with your tan?
As you think about all your must have’s, don’t forget about one very important feature for your next home — the view. What you see from your window, the roof or even poolside matters, so make sure you take a minute to scope out the view before signing a lease.
To give you a jump start on your search to find the best view in Charlotte, check out the apartment communities featured below.
Source: Rent. / Hazel SouthPark
Once you settle down on your balcony and look out, you may never want to leave. That’s how good the view is at Hazel SouthPark. Tightly knit, bushy trees give you so much greenery, with just a few building tops in the background. You’ll feel like you’re living in a nature oasis rather than a busy city.
Set within the vibrant suburban SouthPark neighborhood, there’s as much to do around here as there is to see. Shopping ranges from high-end designer shops to independent boutiques. The local dining scene is eclectic too, with everything from posh bars to sushi spots and cool cafes. For a little something special to listen to, make sure to catch a performance by the Charlotte Symphony Orchestra.
Source: Rent. / Camden Grandview
See an unobstructed city skyline from your balcony at Camden Grandview. The tall buildings of Charlotte sit in the background, giving you all the urban vibes you could want as you relax in your own little quiet spot. This is an ideal way to live close enough to see the city, but far enough way to step into a little peace at the end of the day.
Lively and fun, when you live in South End, you’re close to lots of dining and entertainment. With a strong nightlife reputation, this neighborhood offers up the complete package of things to do. You’ll find craft breweries alongside artisan shops and art galleries. It’s even a hit with outdoor enthusiasts thanks to the Charlotte Rail Trail, which attracts runners and cyclists of all levels.
Source: Rent. / Avalon Hawk
Massive windows throughout every unit give you access to amazing views when you call Avalon Hawk home. These window walls allow you to see out across the vibrant and historic Wilmore neighborhood. It’s a mix of trees and classic architecture, with the tall buildings of the Uptown area off in the distance. It’s like getting all of Charlotte in a single shot.
Calling Wilmore home means you’re surrounded by unique architecture that you can’t find everywhere in the city. They give this space its own, more classic vibe, but there’s still plenty to enjoy living here. The variety of restaurants is a good place to start, and offerings come in all shapes and sizes. You can find a good fit for an entire family or a place that provides the perfect romantic atmosphere for that special someone.
Source: Rent. / SouthPark Morrison
Grab a seat under the small cabana at SouthPark Morrison and settle in for a tranquil courtyard view. Neatly landscaped and exuding a garden-like quality, this vantage point provides trees, flowers and bushes all neatly organized for your viewing pleasure. Enjoy a quiet moment in this natural setting, without leaving home.
Another cool community in the SouthPark neighborhood, this cozy and stylish spot sits to the south of the city. The welcoming atmosphere and ample amenities will give you vacation-like vibes whether you’re at the pool, the fitness center or the courtyard.
Source: Rent. / Solis Midtown Apartments
The fun and funky lounge at Solis Midtown Apartments combines unique lighting with modern furniture and, of course, an amazing city view. Windows that stretch from the floor to the ceiling reach up two stories for a complete look at the city’s stunning skyline. You also get plenty of sky, which means an insane amount of natural light is pouring in constantly throughout the day.
Deciding to live in the heart of Charlotte doesn’t mean exactly what you think. Yes, Dilworth is geographically in the middle of it all, yet it still holds onto a quaint charm. Accented by calm, tree-lined streets, this area has plenty of shops and restaurants. It’s also close to museums and contains Freedom Park, whose walking trails are pretty popular on nice days in Charlotte.
Source: Rent. / Harris Pond
Not only can you see the pond from the outdoor patio at Harris Pond, but it’s also the view you can enjoy from your private balcony. There’s even a walking trail around the pond should you want to get up and close and personal with this beautiful space.
Surrounding the University of North Carolina at Charlotte campus, University City is one of those neighborhoods that really caters to college students. Although Harris Pond is toward the edge, about 11 minutes from campus, you can still take full advantage of the professional opportunities, green spaces and special activities this area has to offer. Some favorites include the botanical garden on UNCC’s campus as well as catching some college football at Jerry Richardson Stadium.
Source: Rent. / Residences at Brookline
If you love living in Charlotte but need a break from the urban cityscape at the end of the day, check out the view from the balcony at Residences at Brookline. Look out onto manicured landscaping with short-cropped grass and tall trees to really get a neighborhood vibe. The design of the balcony enhances this feel with its brickwork and white-painted railing. You almost feel like you’re living in the country with a setup like this.
Situated perfectly for commuters, this Westside community makes it easy to get around Charlotte without sitting in too much traffic. This ease of moving about makes it a great hub to explore the city from as well. Divide your time between finding your favorite eats, locally owned shops and entertainment venues. Toss in all the museums and green spaces and you’ll easily keep yourself busy during your down time.
Source: Rent. / The Lexington Dilworth
Create a cozy spot on your own balcony at The Lexington Dilworth and take in the view. You’ll either get a smattering of trees or see the city off in the distance. Maybe, you’ll nab a unit that has a little bit of both. Altogether though, this community gives you the best pieces of Charlotte, the urban and suburban vibes all rolled into one.
Another great spot in Dilworth, skyline views are just the start. This community boasts six courtyards, all with grilling areas, and oversized balconies mean expansive views for all. Additional outdoor spaces have water features for a little added zen on the property as well. You’ll also find a saltwater swimming pool, open-air sky lounge, 24-hour fitness studio and boutique pet spa in this luxury-filled location.
Source: Rent. / Kaleido Noda
Everything within Kaleido Noda is worth seeing. The design choices and architectural style make this a cool, hip and fun space. Inside you’ll find funky light fixtures, pops of color and so much artistic detail. Wood panels surround the mailboxes and adorn the wall beside two colorful booths. The best spot, though, is the indoor dining space. Turquoise accents give you a massive dining space with an epic view of the pool. Two stories of windows open this already large space up so that you’ll feel like you have infinite room to enjoy a meal, relax and have fun.
Providing excellent city views across the whole neighborhood, The North End is one area of Charlotte that’s seeing a lot of growth and development. This is great for apartment dwellers who like to be the first to try something new. With a combination of industrial buildings and tree-lined streets, you really get an urban-suburban vibe from this versatile and welcoming community.
Source: Rent. / Camden Gallery
With a rooftop lounge that’s luxe to say the least, there’s no shortage of sweet spots to settle into and check out the city skyline at Camden Gallery. This chill spot has plush chairs and couches spread all around, with covered and open areas for your ideal hangout location. See the tops of nearby buildings and all the way down to the tall cluster of downtown buildings for a postcard-perfect picture of Charlotte.
This fantastic Wilmore community is close to dining and shopping. Public transportation isn’t far away either, should you want to head into the city. On the property, you’ll find great amenities like five different courtyards, a private dog park and a picnic and barbecue area. There’s a saltwater pool with adjoining outdoor space and a 24-hour fitness center with a virtual trainer and yoga studio. Seems like calling this spot home ensures you won’t want for anything.
Make sure you have the best view in Charlotte
You should really love where you live in Charlotte, and that means finding an apartment that checks all your boxes. As you tic off the amenities you can’t live without, pause for a moment to peek out the window. If you can get all the features you need, and the best view in Charlotte to boot, you’ll really be all set.
If you’ve been comparing mortgage rates for the purchase of a second home versus investment property, you’re already on a promising path: You’ll either have a place to go for vacations, or one that’ll generate income and put more money in your pocket.Either way, the opportunity to own more than one property is an enviable position to be in, but how you classify that property makes a difference in how much you’ll pay to finance and own it.
What is a second home?
A second home is like a vacation home — one you purchase for enjoyment purposes and live in or visit during part of the year. It is separate from your primary residence.
What is an investment property?
In contrast, an investment property is one you plan to rent out with the goal of generating income.
It might be confusing to differentiate between a second home versus investment property. That’s true especially if you’re thinking about occasionally renting out the property — using it regularly for vacation, for example, but also making it available on Airbnb for some of the time you’re not using the property.
Earning some money from your property doesn’t automatically make it an investment, however. Accurately defining the piece of property depends on how much time you spend in it.
Elliot Pepper, co-founder, CFP and director of tax at Northbrook Financial in Baltimore, says that you need to pay attention to what he calls “the 14-day limit rule.”
“Very broadly speaking, if you personally live in your second home for 14 days or fewer — or less than 10 percent of the days it is rented — during a year, then it would be considered a rental property and the income earned would be taxable,” Pepper says. “But you would also deduct the expenses associated with the property.”
On the flip side, if you use the property for more than 14 days or more than 10 percent of the time it’s rented, any rental income you receive isn’t taxable, but you also can’t deduct expenses, Pepper says.
Lender requirements for second homes vs. investment properties
Second home lender requirements
Investment property lender requirements
Credit score minimum
620-680 or higher
700 or higher
Down payment minimum
5%-10%
15%-25% or more
Debt-to-income (DTI) ratio maximum
45%
45%
Making the distinction between a second home and investment property is important not only for tax purposes but also when you seek financing for the home.
Julienne Joseph, senior advisor for Homeownership, Office of the U.S. Department of Housing and Urban Development Secretary, says that credit score and loan-to-value ratio (LTV) requirements vary based on what the buyer plans to do with a property.
“Investment properties typically have more stringent underwriting guidelines than second homes and primary residences because there is an assumed [greater] risk of default on properties that borrowers don’t occupy,” says Joseph.
Put another way, if a borrower has trouble making mortgage payments, they’re more likely to keep up with the payments on their primary residence, which they live in more often, than payments for a second home — a riskier prospect for lenders.
The stricter standards for an investment property might also include a larger down payment requirement.
For instance, Navy Federal Credit Union requires a 15 percent down payment for an investment property, but if you’re looking at a second home, the down payment could be as low as 5 percent.
That’s a huge difference: For a home with a sale price of $500,000, second-home buyers might be able to put down just $25,000 (or 5 percent), while investment property owners would need to come up with $75,000 (or 15 percent).
Tax implications for second homes vs. investment properties
Second home tax rules
Mortgage interest is tax deductible if it falls within the $750,000 total debt limit
Cannot rent out your property for more than 14 days per year to deduct mortgage interest
Investment property tax rules
Mortgage interest is fully tax deductible
Can also deduct many expenses related to the property, including property taxes, maintenance, advertising to attract renters, materials and supplies used to maintain the property, utilities and insurance, as well as for depreciation.
If you rent out the home for more than 14 days per year, the rental income is taxable
Homeowners enjoy the ability to deduct mortgage interest, but Pepper points out that this can get a bit tricky if you own a second home, due to the $750,000 total debt limit for interest deductions. Essentially, if you have more than $750,000 in mortgage debt between the two (or more) properties, you’ve maxed out the amount you can use to deduct interest.
However, “interest on a mortgage related to an investment property is fully deductible on [Form 1040] Schedule E for a taxpayer and can therefore be used to offset any income generated from the property,” says Pepper.
Investment property owners can use depreciation to their advantage, as well.
“For a personal residence, the owner is not allowed to deduct the actual cost of the home for tax purposes,” says Pepper. “However, for an investment property, the taxpayer will be allowed to take a deduction every year for depreciation. This deduction is based on the price of the house purchased and will be used to offset any income from the property.”
Pepper notes that this deduction isn’t a permanent write-off, “as the amount of depreciation taken will reduce the basis in the house. When the taxpayer goes to sell, they may end up with a larger tax gain that year.” This gain, known as depreciation recapture, is taxed at higher rates than traditional long-term capital gains.
In addition, whenever the selling year arrives, an investment property owner can be subject to income tax if the sale results in a profit, Pepper says.
For more on the tax implications of second homes and investment properties so that you can calculate your eligibility for tax deductions, review IRS Publication 936 and Publication 527.
Mortgage rates for second homes vs. investment properties
As they have with primary residences, mortgage rates for second homes and investment properties have increased in recent months. You’ll also pay higher rates, in general, for investment properties and second homes than you will for a primary mortgage loan. That’s because second homes and investment properties are considered riskier prospects for lenders.
Can you call an investment property a second home?
Tempted to call your investment property a second home and take advantage of some of the second-home perks, like a lower down payment and interest rate?
Don’t be. In the mortgage world, you need to call it what it is — whatever “it” might be.
“It is absolutely imperative that borrowers are completely transparent when disclosing to their lender the intended use of the property to ensure that they receive the appropriate product and rate,” says Joseph.
Joseph adds that borrowers might be asked to sign a document verifying their intended use of the property, so they’ll have to indicate in writing what they plan to do with the home. Deceiving a lender otherwise could have serious consequences.
“Intentionally misleading a lender constitutes mortgage fraud,” says Joseph. “Not only is it unethical – it’s illegal and could result in criminal prosecution.”
Bottom line
Make sure you understand both lender requirements and tax implications before purchasing a property you intend to both use as a second home and rental. When in doubt, consult a real estate agent or broker and an attorney or CPA to learn what rules might apply to your individual situation.
The rise of cryptocurrencies has led to a significant shift in the financial landscape. As crypto gains popularity, many financial institutions are adapting to this change by offering specialized banking services to accommodate crypto transactions.
This article explores the best crypto-friendly banks, explaining why they are considered top choices in the ever-evolving crypto space.
15 Best Crypto-Friendly Banks
Here are the top crypto-friendly banks and banking services providers, each offering a unique set of services tailored to the needs of cryptocurrency enthusiasts.
1. Cash App
Among its many features, Cash App allows users to buy Bitcoin and instantly withdraw funds to personal wallets.
Partnerships with banks such as Sutton Bank and Lincoln Savings Bank enable Cash App to provide banking services. This collaboration between Cash App and crypto-friendly banks ensures that customers have a convenient and secure way to manage their crypto transactions.
Sutton Bank also issues the Fold Visa® Prepaid Card, which allows you to earn Bitcoin on every purchase.
See also: How Does Cash App Work?
2. Revolut
Revolut is a UK-based fintech company that was founded in 2020. It has quickly become a major banking player in the UK, Europe, and the US, as well as a top crypto-friendly bank. Their user-friendly mobile app lets customers easily buy cryptocurrencies like Bitcoin and manage their digital assets. The app also features automatic buy orders that activate based on certain market conditions, making the crypto investment process even smoother.
What sets Revolut apart from competitors is the variety of crypto-related services they offer. Customers can stake select crypto assets, make off-chain transactions between users, and pay bills using crypto through automatic conversion to fiat currency.
With over 50 cryptocurrencies on the platform and plans to expand, Revolut is dedicated to staying ahead in the digital currency world. Although there are transaction fees for crypto payments, users can reduce these fees with account upgrades. Revolut’s upcoming launch of its native coin, RevCoin, highlights their commitment to providing a diverse and dynamic crypto banking experience for their growing customer base.
3. Quontic
Quontic is the first online bank to offer a rewards checking account that allows you to earn Bitcoin. With its innovative Bitcoin Rewards Checking account, users can easily integrate crypto into their everyday banking experience. Quontic only supports Bitcoin. However, its unique offering makes it a top choice for those looking to capitalize on the increasing prominence of digital currencies.
The Bitcoin Rewards Checking account offered by Quontic stands out due to its 1.50% rewards on all Point of Sale (POS) transactions made with the associated debit card. These rewards are paid out in Bitcoin, allowing users to accumulate the popular cryptocurrency as they make everyday purchases. Furthermore, the account acts as a secure wallet for users to store their Bitcoin, providing a seamless banking experience for crypto enthusiasts.
This FDIC-insured bank account requires a minimum opening deposit of $500 and is not available in Hawaii and North Carolina.
4. SoFi
SoFi is an innovative financial institution that has embraced the crypto revolution. Through its SoFi Invest platform, customers can trade crypto and access educational resources to learn about digital currencies.
With just a $10 minimum investment, users can start trading Bitcoin, Ethereum, Dogecoin, Cardano, and over 20 other coins on a platform available 24/7. Users can trade cryptocurrencies alongside stocks, fractional shares, and ETFs within the SoFi app, making it an all-in-one investment platform.
SoFi takes security seriously and offers a range of tools to protect your crypto holdings from theft. These include two-factor authentication, SSL encryption, partnering with trusted exchanges like Coinbase for transactions, and not sharing personal information with trading partners or custodians. This ensures that your investments are safe and secure on the platform.
The SoFi app also provides a wealth of educational resources, such as their Crypto Guide for Beginners, Crypto Glossary, and Guide to Crypto Staking, to help you make informed investment decisions. Keep in mind that due to its volatility, crypto carries a higher degree of risk compared to traditional investments.
Crypto trading on SoFi Invest is subject to a 1.25% markup on crypto transactions, which is added to the market price from the exchange. While there are no plans to allow transfers between SoFi Invest accounts and external wallets at this time, the platform’s focus on security and convenience makes it an attractive option for those interested in trading crypto.
5. Vast Bank
Vast Bank has made history as the first full-service national bank to provide customers with the ability to buy, sell, and hold cryptocurrencies. Through an intuitive mobile banking app, users can access both a checking account with a competitive 2.65% annual percentage yield (APY) and a dedicated crypto account.
As a nationally chartered and federally regulated U.S. bank, Vast Bank ensures a high level of security and reliability for its customers. By using the Vast Crypto Banking app, users can easily deposit USD into their checking account, purchase cryptocurrencies, and safely store their crypto alongside their fiat funds.
This crypto bank currently supports a wide range of popular cryptocurrencies. Among them are Bitcoin (BTC), Ethereum (ETH), Filecoin (FIL), Cosmos (ATOM), Chainlink (LINK), Cardano (ADA), Litecoin (LTC), Aave (AAVE), Bitcoin Cash (BCH), Orchid (OXT), Tezos (XTZ), and Algorand (ALGO).
Vast Bank offers the convenience and safety of traditional banking, such as FDIC insurance for checking accounts, a debit card with access to 56,000 free ATMs worldwide, account transfers, bill pay, and mobile deposits. However, it is important to note that digital assets held in the crypto account are not insured by any government entities, including FDIC or SIPC.
6. Wirex
Wirex is a standout in the world of crypto-friendly banks, offering users a seamless banking experience that supports both fiat currencies and cryptocurrencies. Available in 130 countries and boasting over 3.5 million users worldwide, Wirex provides a multi-currency account and a Visa card for convenient fiat payments.
One of the main attractions of Wirex is its generous savings interest rates, which reach up to 6% for cryptocurrencies such as BTC, ETH, and LTC. For those who prefer to save in fiat currencies like USD, AUD, HKD, or DAI, an impressive 12% interest rate is available. Additionally, users can earn an extra 4% interest when saving in WXT, Wirex’s native token.
Built on both Ethereum and Stellar blockchains, WXT offers exceptional performance and versatility within the decentralized finance (DeFi) sector. Wirex rewards its users with up to 4% WXT cashback each time they use their card for in-store or online purchases. The multicurrency card allows for hassle-free payments when traveling abroad, automatically converting to the local currency with no exchange fees, and offering savings of up to 3% on international transactions.
Beyond being a Bitcoin-friendly bank, Wirex offers a wallet app that supports over 100 coins and includes DeFi and NFT capabilities. This combination of features makes Wirex an excellent choice for those seeking a comprehensive and crypto-friendly banking experience.
7. Ally Bank
Ally Bank is an online bank that has embraced the crypto revolution, offering an array of services to support digital assets. Some notable features from Ally’s website include:
Crypto trusts: Ally offers private trusts that invest in and track the price of specific cryptocurrencies, allowing customers to indirectly trade them as they would a stock.
Bitcoin futures: Ally provides access to exchange-traded funds (ETFs) that invest in the purchase of bitcoin futures contracts. This allows customers to gain exposure by speculating on the future price of Bitcoin without directly owning it.
Crypto stocks: Ally enables customers to invest in publicly traded companies that buy and hold cryptocurrency. Buying shares of these stocks provide indirect exposure to crypto.
Ally Bank’s crypto trading services on the Ally Invest platform, integration with popular cryptocurrency exchanges, and digital asset storage and management make it a top choice for crypto enthusiasts seeking a crypto-friendly bank.
8. BankProv
BankProv is a forward-thinking US financial institution that provides a range of services, including business banking, cash management, personal banking, and cryptocurrency offerings. Embracing modern technologies, this crypto bank utilizes API banking, the ProvXchange network, and specializes in lending.
Its support for various digital assets ensures that customers can access a diverse range of investment options, making it a strong contender among crypto banks. Customers can enjoy real-time transactions through the ProvXchange network, while the API integration allows for seamless interaction with various platforms and software solutions.
BankProv provides crypto-backed loans and credit lines for organizations secured by Bitcoin or Ether, as well as equipment and infrastructure loans for crypto mining operations. Additionally, Bitcoin ATM operators can take advantage of secure cash vault services, expedited money transfers, and other perks tailored to businesses operating within the crypto sector.
9. Juno
Established in 2019, Juno is a fintech company offering a digital banking platform with hybrid accounts for managing both cash and cryptocurrencies. Despite not being a traditional bank, Juno’s exceptional services make it a top contender for cryptocurrency investments.
Juno enables users to purchase a range of popular cryptocurrencies without fees, and provides two types of checking accounts: Basic and Metal. The Basic account is free with a $5,000 daily funding limit, while the Metal account, free with monthly qualifying deposits of $250 or more, offers a $25,000 daily limit and up to six times higher savings.
Bonus rewards are a highlight of Juno’s offerings, with users earning up to 5% on cash deposits and yearly cashback for payments with cash or crypto. The JCOIN Loyalty Program allows customers to earn tokens and redeem them for exclusive discounts and cashback boosts. New users can benefit from a welcome offer, which includes bonuses for initial deposits, trades, and referrals.
Free cash withdrawals are available at Allpoint and MoneyPass® ATMs, with additional out-of-network withdrawals for both account types. Juno’s mobile banking app is compatible with iOS and Android, supporting Apple Pay, Google Pay, Samsung Pay, and debit cards. The platform also offers the unique feature of converting paychecks into crypto through partnerships with over 500 payroll providers, allowing users to automate their investments seamlessly.
10. Monzo
Monzo is an innovative online-only bank that has gained popularity in the UK for its modern approach to banking. More recently, Monzo has expanded its services to accept applications from US customers, broadening its reach in the financial market.
With a Monzo account, customers can manage all their bank accounts, including non-Monzo accounts, on a single dashboard through the Monzo app. While the bank itself does not support crypto trading, users can still invest their Monzo account funds into cryptocurrencies through crypto exchanges like Coinbase and Crypto.com. This feature provides Monzo users with indirect exposure to cryptocurrency while still enjoying the convenience and security of a modern bank.
11. Axos Bank
Axos Bank, a crypto-friendly institution, started providing its commercial banking clients with TassatPay access in May 2022. TassatPay is a private, permissioned blockchain-based digital payments platform that enables 24/7 real-time payment capabilities and has processed over $400 billion in transactions. This platform is endorsed by a primary bank regulator.
Axos also offers exposure to various crypto-related exchange-traded funds (ETFs). These include the Bitwise 10 Crypto Index Fund (BITW), Bitwise Crypto Industry Innovation ETF (BITQ), ProShares Bitcoin Strategy ETF (BITO), and ProShares Short Bitcoin Strategy ETF (BITI), among others.
12. Standard Chartered Bank
Standard Chartered Bank has demonstrated a strong interest in cryptocurrencies and blockchain technology, regularly conducting research and sharing insights on digital currencies. Recognizing the growing demand in the market, Standard Chartered is launching a crypto exchange and brokerage service to provide its customers with access to digital assets.
The bank’s direct crypto trading and investment services are still in development. However, their commitment to staying informed about the latest trends in the digital currency market and taking steps to launch new services indicates their growing involvement in the crypto space.
13. USAA
USAA, a financial institution dedicated to serving current and former military personnel and their families, provides a range of tailored financial products and services. Among these offerings is an integration with Coinbase, a leading cryptocurrency exchange.
Through this partnership, USAA customers can conveniently link their Coinbase accounts to their USAA portal, enabling them to easily monitor their digital asset balances and track transactions. This feature streamlines the process of staying informed about one’s cryptocurrency holdings and activity, offering an added layer of convenience for USAA members.
14. Fidor
Fidor is a pioneering online bank headquartered in Munich, Germany. It offers innovative banking services designed to support digital assets. Its integration with popular cryptocurrency exchanges and crypto wallet services makes it an ideal choice for those looking for a crypto-friendly bank. Additionally, Fidor provides support for ICO and token sales, giving customers access to new and emerging cryptocurrencies.
15. PayPal
Although PayPal is not a bank, it offers various banking services and has expanded its support for cryptocurrency in recent years. PayPal enables users to buy, sell, and hold cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
By partnering with Paxos Trust Company, a regulated provider of cryptocurrency products and services, PayPal ensures a secure and compliant experience for its customers. While it does not offer the full range of services that traditional banks do, PayPal’s support for crypto makes it an appealing choice for those who want to manage their cryptocurrencies alongside other financial transactions.
Bottom Line
The increasing popularity of cryptocurrency has led to a growing number of crypto-friendly banks, offering a range of services to accommodate the unique needs of digital asset users. These banks provide an array of services, from crypto trading and custody to debit cards and loans backed by crypto.
As the crypto industry continues to evolve, it’s crucial to stay informed and choose the best crypto-friendly bank to suit your needs. With so many crypto-friendly banks available, you can now manage your crypto alongside traditional banking services, providing a seamless and efficient way to navigate the world of cryptocurrencies.
Frequently Asked Questions
What makes a bank crypto-friendly?
A crypto-friendly bank is one that supports and facilitates cryptocurrency transactions, storage, and trading. These banks typically offer a range of services tailored to the needs of digital asset users, such as integration with popular crypto platforms, crypto-backed loans, and the ability to spend crypto using a debit card.
Can I store my cryptocurrencies in a traditional bank account?
While some banks offer crypto-friendly services, cryptocurrencies are typically stored in digital wallets rather than traditional bank accounts. However, many crypto-friendly banks provide integration with popular crypto wallets and exchanges, allowing you to manage your crypto alongside your fiat currency.
Are crypto-friendly banks safe and secure?
Many crypto-friendly banks are FDIC-insured and follow strict regulatory requirements to ensure the security of your assets. It’s essential to research each bank’s security measures, such as two-factor authentication, encryption, and secure storage of crypto before choosing a crypto-friendly bank.
How do I choose the best crypto-friendly bank for my needs?
To choose the best crypto-friendly bank for your needs, consider the range of services offered, the bank’s reputation, and any fees associated with their services. You may also want to look for banks that provide educational resources, customer support, and a user-friendly platform for managing your crypto.
Can I use a debit card to spend my cryptocurrencies?
Some crypto-friendly banks and financial service providers offer debit cards that allow you to spend your crypto just like traditional fiat currency. These cards typically convert your cryptocurrencies to the local currency at the point of sale, making it convenient to use crypto for everyday transactions.
Do crypto-friendly banks offer loans and credit products?
Some crypto-friendly banks offer crypto-backed loans and lines of credit. These products allow you to leverage your crypto without selling it, providing greater financial flexibility for crypto users.
Have you ever thought about doing a cash-out refinance on your home for investment?
A lot of people have.
I received exactly this question from a reader.
Reader Question
Hi Jeff,
Thanks for your videos and educational websites!
I know you are very busy and this may a simple answer so thank you if can take the time to answer!
Would you ever consider approving someone to taking a cash-out refi on the equity in their house to invest?
I have been approved for a VA 100% LTV cash-out refi at 4% and would give me 100k to play with.
With average ROI on peer to peer, Betterment, Fundrise, and S&P 500 index funds being 6-8%, it seems like this type of leveraging would work. However, this is my primary residence and there is an obvious risk. I could also use the 100k to help buy another property here in Las Vegas, using some of the 100k for a down and rent out the property.
BTW, I would be debt free other than the mortgage, have 50k available from a 401k loan if needed for an emergency, but with no savings. I have been told this is crazy, but some articles on leveraging seem otherwise as mortgages at low rates are good at fighting inflation, so I guess I am not sure how crazy this really is.
I would greatly appreciate a response and maybe an article or video covering this topic as I am sure there are others out there who may have the same questions.
My Thoughts
But rather than answering the question directly, I’m going to present the pros and cons of the strategy.
At the end, I’ll give my opinion.
The Pros of a Cash-Out Refinance on Your Home For Investment Purposes
The reader reports he’s been told the idea is crazy.
But it’s not without a few definite advantages.
Locking in a Very Low-Interest Rate
The 4% interest rate is certainly attractive.
It will be very difficult for the reader to borrow money at such a low rate from virtually any other source. And with rate inching up, he may be locking into the best rates for a very long time.
Even better, a home mortgage is very stable debt. He can lock in both the rate and the monthly payment for the length of the loan – presumably 30 years. A $100,000 loan at 4% would produce a payment of just $477 per month. That’s little more than a car payment. And it would give him access to $100,000 investment capital.
As long as he has both the income and job stability needed to carry the payment, the loan itself will be fairly low risk.
So far, so good!
The Leverage Factor
Let’s use an S&P 500 index fund as an example here.
The average annual rate of return on the index has been right around 10%.
Now that’s not the return year in, year out. But it is the average based on nearly 100 years.
If the reader can borrow $100,000 at 4%, and invest it and an average rate of return of 10%, he’ll have a net annual return of 6%.
(Actually, the spread is better than that, because as the loan amortizes, the interest being paid on it disappears.)
If the reader invests $100,000 in an S&P 500 index fund averaging 10% per year for the next 30 years, he’ll have $1,744,937.That gives the reader a better than 17 to 1 return on his borrowed investment.
If everything goes as planned, he’ll be a millionaire using the cash-out equity strategy.
That’s hard to argue against.
Rising Investment, Declining Debt
This adds an entire dimension to the strategy. Not only can the reader invest his way into millionaire status by doing a cash-out refinance for investment purposes, but at the end of 30 years, his mortgage is paid in full, and he’s once again in a debt-free home.
Not only does his investment grow to over $1 million, but over the 30 year term of the mortgage, the loan self-amortizes down to zero.
What could possibly go wrong?
That’s what we’re going to talk about next.
The Cons of a Cash-out Refinance on Your Home
This is where the prospect of doing a cash-out refinance on your home for investment purposes gets interesting.
Or more to the point, where it gets downright risky.
There are several risk factors the strategy creates.
Closing Costs and the VA Funding Fee
One of the major disadvantages with taking a new first mortgage are the closing costs involved.
Whenever you do a refinance, you’ll typically pay anywhere from 2% to 4% of the loan amount in closing costs.
This will include:
origination fees
application fee
attorney fee
appraisal
title search
title insurance
mortgage taxes
and about a dozen other expenses.
If the reader were to do a refinance for $100,000, he would only receive between $96,000 and $98,000 in cash.
Then there’s the VA Funding Fee.
This is a mortgage insurance premium charged on most VA loans at the time of closing. It’s usually added on top of the new loan amount.
The VA funding fee is between 2.15% to 3.30% of the new mortgage amount.
Were the reader to take a $100,000 mortgage, and the VA funding fee set at 2.5%, he’d owe $102,500.
Now… let’s combine the effects of both the closing costs in the VA funding fee. Let’s assume the closing costs are 3%.
The borrower will receive a net of $97,000 in cash. But he will owe $102,500. That is, he will pay $102,500 for the privilege of borrowing $97,000. That’s $5,500, which is nearly 5.7% of the cash proceeds!
Even if the reader gets a very low-interest rate on the new mortgage, he’s still paid a steep price for the loan.
From an investment standpoint, he’s starting out with a nearly 6% loss on his money!
I can’t recommend taking a guaranteed loss – upfront – for the purpose of pursuing uncertain returns.
It means you’re in a losing position from the very beginning.
The Interest on the Mortgage May No Longer be Tax Deductible
The Tax Cuts and Jobs Act was passed in December 2017, and applies to all activity from January 1, 2018, forward.
There are some changes in the tax law which were not favorable to real estate lending.
Under the previous tax law, a homeowner could deduct the interest paid on a mortgage of up to $1 million, if that money was used to build, acquire or renovate the home. They can also deduct interest on up to $100,000 of cash-out proceeds used for purposes unrelated to the home.
That could include paying off high interest credit card debts, paying for a child’s college education, investing, or even buying a new car.
But it looks like that’s changed under the new tax law.
Borrowing up $100,000 for purposes unrelated to your home, and deducting the interest looks to have been specifically eliminated by the new law.
It’s now widely assumed that cash-out equity on a new first mortgage is also no longer deductible.
Now the law is still brand-new and subject to both interpretation and even revision. But that’s where it stands right now.
There may be an even bigger obstacle that makes the cash-out interest deduction meaningless, anyway.
Under the new tax law, the standard deduction increases to $12,000 (from $6,350 under the previous law) for single taxpayers, and to $24,000 (up from $12,700 under the previous law) for married couples filing jointly. (Don’t get too excited – personal exemptions are eliminated, and combined with the standard deduction to create a higher limit.)
The long and short of it is with the higher standard deduction levels, it’s much less likely mortgage interest will be deductible anyway. Especially on the loan amount as low as $100,000, and no more than $4,000 in interest paid.
Using the Funds to Invest in Robo-advisors, the S&P 500 or Peer-to-Peer Investments (P2P)
The reader is correct that these investments have been providing steady returns, well in excess of the 4% he’ll be paying on a cash-out refinance.
In theory at least, if he can borrow at 4%, and invest at say, 10%, it’s a no-brainer. He’ll be getting a 6% annual return for doing virtually nothing. It sounds absolutely perfect.
But as the saying goes, if it looks too good to be true, it probably is.
I often recommend all of these investments, but not when debt is used to acquire them.
That changes the whole game.
Whenever you’re thinking about investing, you always must consider the risks involved.
The last nine years have somewhat distorted the traditional view of risk.
For example, the stock market has been up nine years in a row, without so much as a correction of greater than 10%. It’s easy to see why people might think the returns are automatic.
But they’re not.
Yes, it may have been, for the past nine years. But if you look back further, that certainly hasn’t been the case.
The market has gone up and down, and while it’s true that you come out ahead as long as you hold out for the long term, the debt situation changes the picture.
Matching a Certain Liability with Uncertain Investment Returns
Since he’ll be investing in the market with 100% borrowed funds, any losses will be magnified.
Something on the order of a 50% crash in stock prices, like what happened during the Dot.com Bust and the Financial Meltdown, could see the reader lose $50,000 in a similar crash.
But he’ll still owe $100,000 on his home.
This is where human emotion comes into the picture. Since he’s playing with borrowed money, there’s a good chance he’ll panic-sell his investments after taking that kind of loss.
If he does, his loss becomes permanent – and so does his debt.
The same will be true if he invests with a robo-advisor, or in P2P loans.
Robo-advisor returns are every bit as tied to the stock market as an S&P 500 index fund is. And P2P loan investments are not risk-free.
In fact, since most P2P investing and lending has taken place only since the Financial Meltdown, it’s not certain how they’ll perform should a similar crisis take place.
None of this is nearly as much a problem with straight-up investing based on saved capital.
But if your investment capital is coming from debt – especially 100% – it can’t be ignored.
It doesn’t make sense to match a certain liability with uncertain investment gains.
Using the Funds to Buy Investment Property in Las Vegas
In a lot of ways, this looks like the most risky investment play offered by the reader.
On the surface, it sounds almost logical – the reader will be borrowing against real estate, to buy more real estate. That seems to make a lot of sense.
But if we dig a little deeper, the Las Vegas market in particular was one of the worst hit in the last recession.
Peak-to-trough, property values fell on the order of 50%, between 2008 in 2012. Las Vegas was often referred to as the “foreclosure capital of America”.
I’m not implying the Las Vegas market is doomed to see this outcome again.
But the chart below from Zillow.com shows a potentially scary development:
The upside down U formation of the chart shows that current property values have once again reached peak levels.
That brings the question – which we cannot answer – what’s different this time? If prices collapsed after the last peak, there’s no guarantee it can’t happen again.
Once again, I’m not predicting that outcome.
But if you’re planning to invest in the Las Vegas market with 100% debt, it can’t be ignored either. In the last market crash, property values didn’t just decline – a lot of properties became downright unsalable at any price.
The nightmare scenario here would be a repeat of the 2009-2012 downturn, with the reader losing 100% of his investment. At the same time, he’ll still have the 100% loan on his home. Which at that point, might be more than the house is worth, creating a double jeopardy trap.
Once again, the idea sounds good in theory, and certainly makes sense against the recent run-up in prices.
But the “doomsday scenario” has to be considered, especially when you’re investing with that much leverage.
Putting Your Home at Risk
While I generally recommend against using debt for investment purposes, I have an even bigger problem when the source of the debt is the family homestead.
Borrowing money for investment purposes is always risky.
But when your home is the collateral for the loan, the risk is double. You not only have the risk that the investments you’re making may go sour, but also that you’ll put your home at risk in a losing venture.
Let’s say he invests the full $100,000. But due to leverage, the net value of that investment has declined to $25,000 in five years. That’s bad enough. But he’ll still owe $100,000 on his home.
And since it’s a 100% loan, his home is 100% at risk. The investment strategy didn’t pan out, but he’s still stuck with the liability.
It’ll be a double whammy if the money is used for the purchase of an investment property in your home market.
For example, should the Las Vegas market take a hit similar to what it did during the Financial Meltdown, he’ll not only lose equity in the investment property, but also in his home.
He could end up in a situation where he has negative equity in both the investment property and his home. That’s not just a bad investment – that’s a certified nightmare!
It could even lead him into bankruptcy court, or foreclosures on two properties – the primary residence and the investment property. The reader’s credit would pretty much be toast for the next 10 years.
Right now, he has zero risk on his home.
But if he does the 100% cash out, he’ll convert that zero risk to 100% risk. Given that the house is needed as a place to live, this is not a risk worth taking.
Final Thoughs
Can you tell that I don’t have a warm, fuzzy feeling about the strategy? I think you figure it out by the greater emphasis on Cons than on Pros where I come down on this question.
I think it’s an excellent idea in theory, but there’s just too much that can go wrong with it.
There are three other factors that lead me to believe this is probably not a good idea:
1. The Lack of Other Savings
The reader reports that he has “…50k available from a 401k loan if needed for emergency, but with no savings.”For me, that’s an instant red flag. Kudos to him for having no other debt, but the absence of savings – other than what he can borrow against his 401(k) plan – is setting off alarm bells.
To take on this kind of high risk investment scheme without a source of ready cash, exaggerates all of the risks.
Sure, he may be able to take a loan against his 401(k), but that creates yet another liability.
That that will need to be repaid, and it will become a lien against his only remaining unencumbered asset (the 401k).
If he has to borrow money to stay liquid during a crisis, it’s just a question of time before the strategy collapses.
2. The Reader’s Risk Tolerance
We have no idea what the reader’s risk tolerance is.
That’s important, especially when you’re constructing a complex investment strategy.
While it might seem the very fact he’s contemplating this is an indication he has a high risk tolerance, we can’t be certain. He’s basing his projections on optimistic outcomes – that the investments he makes with the borrowed money will produce positive returns.
What we don’t know, and what I ask the reader to consider, is how he would handle a big reversal.
For example, if he goes ahead with the loan, invests the money, and finds himself down 20% or 30% within the first couple of years, will he be able to sleep at night? Or will he instead contemplate an early exit strategy, that will leave him in a permanent weakened financial state?
These are real risks that investors face in the real world. At times, you will lose money. And how you react to that outcome can determine the success or failure of the strategy.
This is definitely a high risk/high reward plan. Unless he has the risk tolerance to handle it, it’s best not to even start.
On the flip side, just because you have the risk tolerance, doesn’t guarantee success.
3. Buying at a Market Peak
I don’t know who said it, but when asked where the market would go, his response was “The market will go up. And the market will go down”.
That’s a fact, and one that every investor has to accept.
This isn’t about market timing strategies, but about recognizing reality.
Here’s the problem: both the financial markets and real estate have been moving up steadily for the past nine years (but maybe a little bit less for real estate).
Sooner or later, all markets reverse. These markets will too.
I’m worried that the reader might be borrowing money to leverage investing at what could turn out to be the absolute worst time.
Ironically, a borrow-to-invest strategy is a lot less risky after market crashes.
But at that point, everyone’s too scared, and no one wants to do it. It’s only at market peaks, when people believe there’s no risk in the investment markets, that they think seriously about things like 100% home loans for investments.
In the end, the reader’s strategy could be a very good idea, but with very bad timing.
Worst Case Scenario: The Reader Loses His Home in Foreclosure
This is the one that seals the deal against for me. Doing a cash out refinance on your home for investment is definitely a high-risk strategy.
Heads you’re a millionaire, tails you’re homeless.
That’s not just risk, it’s serious risk. We don’t know if the reader also has a family.
I couldn’t recommend anyone with a family putting themselves in that position, even if the payoff were that high.
Based on the facts supplied by the reader, we’re looking at 100+% leverage – the 100% loan on his house, then additional (401k) debt if he runs into cash flow problems. That’s the kind of debt that will either make you rich, or lead you to the poor house.
Given that the reader has a debt-free home, no non-housing debt, and we can guess at least $100,000 in his 401(k), he’s in a pretty solid situation right now. Taking a 100% loan against his house, and relying on a 401(k) loan for emergencies, could change that situation in no more than a year or two.