Some may joke that “Atlanta is full,” but that’s due to the recent influx of transplants around the country. Recently, Money named Atlanta the best place to live in the U.S. in 2022, so it’s not hard to understand why everyone flew south.
People are starting to notice the Georgia capital as a gem in the region. Steady job growth? You got it. Excellent live music and food? Yes, of course. There are many reasons why you’ll love living in Atlanta. The city knows how to capture the hearts of every visitor since the city is as versatile as it is beautiful. There’s a place for everyone here.
Here are 15 reasons to move to Atlanta.
1. There are plenty of green spaces
Atlanta is a city in a forest, no doubt. The tree canopy around the city will take you by surprise. It’s not just tree-lined streets. There are parks around every corner, shaded sidewalks and the trees embrace even the highway.
Nature is always nearby, with Piedmont Park being smack dab in the middle of Midtown Atlanta. Around the city, you can find walking trails like the Morningside Nature Preserve and Westside Park, or if you’re into kayaking, the Chattahoochee River National Recreation Area.
2. The mild weather is glorious
Winters in Atlanta are very mild, with infrequent snowfall. Bundling up, you can enjoy walks around the city and beat those winter blues without freezing. Additionally, on average, Atlanta gets 217 sunny days a year, and a lot of those are in winter.
Spring is unpredictable, with a few storms. But, the resulting blooms around town are worth the sneeze. The summers get hot and humid (its nickname is “Hotlanta” after all), but there are plenty of patios and spots to cool off, like city pools, the Chattahoochee River and Lake Lanier.
3. It’s truly one of the best food cities
Another reason to love Atlanta is the diversity of dining options within the city. Emerging chefs have set up pop-ups around the city to deliver creative offerings. Restaurants like Georgia Boy, Little Bear and Talat Market are pushing the envelope in the fine dining scene.
You can also find delicious seafood fare at Tio Lucho’s, Atlanta Fishmonger and Kimball House. The bar scene is growing, as well. Food halls, including Ponce City Market, have many options, from Szechuan to Italian to Cuban, all under one roof.
4. Southern hospitality is alive and well
Locals in Atlanta are incredibly warm and inviting. Atlanta is a big city with a small-town heart. Everyone truly knows each other, and you’ll get introduced to a handful of people anywhere you go. It’s easy to make friends and network for work.
The Southern hospitality shows up in friendly hellos everywhere you go and during parties and bars around town. You won’t encounter a stranger here.
5. Arts and culture are everywhere in the city
From the Atlanta Symphony Orchestra to the High Museum of Art to MODA, Atlanta has a thriving arts culture. Local art nonprofits create programs for families and children to boast their knowledge of the arts, music and more. Nonprofits like Living Walls beautify the city by bringing local and abroad artists to create murals around the city.
Other attractions in Atlanta that bring unexpected doses of culture are the Georgia Aquarium, the Center for Puppetry Arts and Zoo Atlanta.
6. Neighborhoods with different personalities
Every neighborhood in Atlanta has its own personality. Family-friendly Candler Park has beautiful tree-lined streets, playgrounds and family restaurants. While Little Five Points reaches a younger demographic with vintage stores, metal bars and new-age stores.
In East Atlanta, you can find nightlife and more millennial-leaning restaurants like Argosy and Banshee. On the Westside, you can find a higher concentration of rooftop bars, fine dining and spots like Ormby’s and The Painted Pin that offer games with food.
7. Access to food from many countries
Buford Highway, a state highway in Atlanta, is a place that just doesn’t exist anywhere else. Immigrant populations started settling along Buford Highway decades ago. Now, there are shopping centers filled with food from all over the world, from Korean to Mexican, Colombian, Chinese and more.
Cultural events also occur in one of the many event spaces in the area. It’s a great place to learn about other cultures and enjoy delicious food.
8. Live music and concerts 24/7
The city that gave you Usher, TLC, Outkast and the Indigo Girls — you can’t go wrong here. The Tabernacle, Variety Playhouse, Coca-Cola Roxy, Buckhead Theatre and The Earl bring all the popular acts to the stage and offer different levels of intimacy for the audience.
You’ll find free concerts at parks around the city and, of course, the world’s biggest stars rocking out at Mercedes-Benz Stadium. An obvious reason to fall in love with Atlanta.
9. Biking the Atlanta BeltLine
The Atlanta BeltLine, a network of multi-use trails, connects the city’s 45 in-town neighborhoods. You’ll find shops, restaurants, breweries and more along the BeltLine.
Each stretch also has a different feel depending on the neighborhood you’re passing. Get a bike or walk it with coffee in hand to enjoy Atlanta’s weather. It’s a great way to explore the city and how it has changed.
10. A mountain escape is just 90 minutes away
Sometimes, you need a break, right? Luckily, the Blue Ridge mountains are just 90 minutes from Atlanta. You can visit Ellijay and Blue Ridge for a quick 48-hour rejuvenating trip to the mountains.
Go apple picking, hike waterfalls, make a fire at your cabin or enjoy the view from a hot tub. The small town also has kitschy shops that are fun to visit and, of course, very good barbecue.
11. A thriving sports culture
Pick your sport — baseball, soccer, basketball or football. Atlanta’s got a fierce fan club for the Atlanta Braves (MLB), the Atlanta Falcons (NFL), the Atlanta Hawks (NBA) and Atlanta United (MLS).
If you’re into college football, both Georgia State University and Georgia Tech have excellent football teams that make home games an enjoyable time.
12. Atlanta is incredibly diverse
More than half of the city’s population identifies as Black, making it one of the largest majority-Black metro areas. It also takes the prize for the second friendliest city for those in the LGBTQ+ community, with an annual Pride Festival in October.
The city also hosts a large immigrant population from Latin America, Asia and Europe, about 14 percent of the total population. Between 2000 and 2010, metro Atlanta’s Latino population doubled.
13. Growing tech scene and job market
There’s a growing number of accelerators, incubators, venture capital firms and events like Atlanta Innovation Week and Venture Atlanta that together fuel a thriving start-up culture.
Headquarters for Microsoft, NCR, Alphabet’s Google and others have cemented their footprint in the city with new offices. The Atlanta Tech Village in Buckhead houses more than 600 startups and continues to nurture emerging founders through networking.
And, don’t forget that it’s home to Fortune 500 companies like Coca-Cola, UPS, Home Depot and Delta Air Lines.
14. There’s rich history around every corner
The Historic Auburn district, the National Center for Civil and Human Rights and the Martin Luther King, Jr. National Historic site offer insights into Atlanta’s robust history and key role during the Civil Rights era.
At the Atlanta History Center, you can learn more about Atlanta’s role in the Civil War through its exhibitions and the Cyclorama, one of the only ones left in the country. Markers around the city also show important battles. In Oakland Cemetery, you can see those fallen during past times.
15. The airport puts the world at your fingertips
The hype around the Atlanta airport is real. Busiest? Definitely. But, as an Atlanta local, you’ll also see it’s one of the most efficient in the world. The airport sees more than 100 million passengers a year.
As a Delta hub, you have the world at your fingertips with a direct flight to many destinations around the world. Don’t miss the many art installations by local artists in the terminals, including a crowd-favorite on Concourse C.
Thinking of moving to Atlanta?
You’ll undoubtedly love Atlanta as much as the locals do once you spend some time in town. From its food and history to its culture and sports teams, there are truly so many reasons to love Atlanta with something for everyone in one of its 45 in-town neighborhoods. Are you ready to make a move to Atlanta?
While I’ve long been an art fan, it’s rare to have the opportunity to call an admired artist a dear friend. That’s why I feel both lucky and constantly inspired by watching photographer Emily Johnston evolve her craft and chase her passions by transitioning from a wedding photographer to focus on her fine art full time. We’ve certainly had some fun shoots in the past I think this one is my fave. Now Emily is breaking boundaries with prints of her Instagrams, creating innovative collage work and photo documentary series. Ethereal, haunting, inquisitive – those are just a few of the adjectives that describe the quiet moments Emily captures.
We’re so fascinated by what Emily sees in everyday life that allows her to find grace in ordinary things. We love how her lens interprets the world. We could sit and pick her brain for hours. Thankfully, she let us!
From Emily: “What’s essential to me about travel is the sense of disorientation it procures. That feeling of not knowing where I am, or exactly who I am in a new context allows me to look at everything around me with fresh eyes. It’s something that doesn’t come easily in familiar environments, but even when I’m not traveling, I think of the words of the bedridden Marcel Proust, “The real voyage of discovery is not in seeking new landscapes, but in having new eyes.” So whatever it is that allows you to find that feeling….”
“About the images in our Holiday Pop-Up Shop: “When I see this image I made in Rome, I think about a different image that I didn’t make. It’s funny how one image can remind you of a moment, not just itself…the power of association! Anyway, inside this chapel there was the most insane 12 foot fresco with a sort of strange blue crest shaped form with these two eyes floating in it. I’m sure there’s some specific historical art context for it, but it’s not one I ever learned about in school and I loved the feeling of discovering new weird spiritual imagery.
The second image is from a simple quiet moment waking up with a cup of coffee at my parents’ place in Paris. It’s always nice to be home in that city, and I seem to find a new connection to it every time. I don’t ever remember such dramatic sunlight like this growing up, but there it was.”
“I share images that move me and that I want to remember. The ones that inscribe themselves in a personal or shared narrative. I’m always looking for ways to connect things or people. I don’t think diptychs are a trademark of my work, but I like the way individual images interact, when placed together in groups. There’s both an aesthetic and narrative synergy that can happen. That’s what I try to stay receptive to.”
Emily has an undeniable talent of making even the smallest dot of light flickering on a wall captivating. So there’s no question that these limited edition individually numbered! travel prints would conjure up endless inspiration gracing your walls! Shop them RIGHT HERE.
headshot c/o Emily Johnston // images via @emily__johnston
As we scroll our Pinterest feeds and catch up on our favorite blogs this time of year, it seems the most elaborate ideas for gift wrapping just cascade down the screen, like snowflakes falling on a winter’s day. And while we appreciate a good DIY hand-made shibori papers anyone? dip dyed gift tags? let’s not forget about the wonders of washi tape!, with this year’s schedule hello house! hello baby! and only three weeks until Christmas, we can already count on wrapping presents Christmas Eve!
Let’s be real, the holiday sneaks up on the best of us and between decorating, hosting, toasting and oh yeah, shopping for the perfect presents, on top of all of life’s daily duties, we wanted to wrap up our gifts and the year! with something simple, beautiful and most importantly, pretty dang easy! One of the simplest and seriously stunning! ways to do that is to select a gift wrapping theme and stick with it. Trust us, it’ll be anything but boring!!
Start by selecting your preferred color palette. Color themes add cohesiveness and simplicity to tinsel and garlands and ribbons oh my!. We’re in love with the idea of putting a modern spin on holiday decor, so we wrapped our presents up in a crisp white and blue color palette that has us dreaming of a winter wonderland!
With ombre blue and gold starburst wrapping paper as our base, we had tons of fun playing with tone and texture. By mixing in jeweled blues, deep navy, soft gray and of course, silver and gold accents to “holiday” everything up, the whole setting feels incredibly festive, don’t you think?
We also played with nontraditional accoutrements. It’s kinda my favorite part. Forget sticking to stick-on bows though we totally used some of them too! Do you put scotch tape on the bottom of yours and then save them so you can reuse them year after year? Yeah, totally learned that trick from my mom!. But back to other package accessories.
Feathers add a bit of drama and flair and are an easy escape route from perfecting ribbon tying. Another alternative to tons of ribbon? Ornaments! Picked right off our trees, adding a cluster of small ornaments or one big one for impact added a glam element to our stack of gifts. When you string an ornament onto your gift tag, you have yourself a stunner so pretty it’ll be hard for the special recipient to rip it open!
If you’re looking to add a glamorous touch to your decor, a black, gold and copper color palette is a must! We snagged black and white striped wrapping paper mix and match stripe widths for a chic play on print on print!, black & white geometric paper and of course, some super glossy gold and copper paper for a little glitz! Mixed in with petite crisp bows, dramatic black ribbon and metallic string snagged at our local craft store, we went to town creating a bold, luxurious scene!
Since the patterns of these black and white papers really make a statement on their own, we stuck to classic silk ribbons, simple bows – they kinda have a Kate Spade vibe- and even left a couple packages with only a gift tag! We chose a consistent color palette for our ribbons as well, including black, metallics and smoky gray to add an elevated glamour to the look. Our one exception was a geo-print ribbon that added a little extra zing to the already dramatic pattern play. We really just wanted any excuse to go into the craft store and peruse the aisle of ribbons! It’s such a treat to shop fun and gorgeous ribbons, isn’t it? Why is that?!
And don’t forget that presentation is everything, but that doesn’t only apply to presents themselves. Glam up the ground and the area around your gifts with glitzy garlands and faux fur rugs, drizzle ornaments throughout and deck your floor with paper confetti or tinsel! And can we talk about how obsessed we are over these adorable artificial white LED trees from West Elm that are on sale right now?! The added layers and textures really make for a complete package!
We’re definitely feelin’ the holiday spirit after our gift wrapping marathon! We’ll be back later this week for a few more wrapping tips, including how to tie a ribbon without any cuts or twists! We swear it’s not magic- well, kinda. But for now, we wanna know: which theme might you deck the halls in this year?
PS: Last year’s color-blocked gift wrap tutorial is right here!
original photography for apartment 34 by Emily Scott // art direction + styling by for apartment 34 by Bianca Sotelo
This post is in partnership with Zazzle.com. All thoughts and opinions are 100% our own. Thanks for supporting collaboartions we’re excited about and that help keep Apartment 34’s doors open!
From film stars to activists, there’s no denying that celebrities are held as idols by millions of people. They influence our fashion choices, promote favorite causes or charities, and their opinions can even sway public sentiment. But what many don’t realize is that underneath all the glitz and glamour is often a sharp intellect—many famous faces excel in more than just red carpet moments. Keep reading to learn more about 12 prominent celebrities who have proven they have brains as well as beauty!
1. Cardi B
One Redditor posted, “Hear me out: Cardi B. She is incredibly well versed in current events, and most of the information she disseminates is pro-people and she does so in an easy to understand way for people from all walks of life. Additionally, she is involved in her community and even donated $$$ to her underfunded middle school so the arts could have some funding.”
Another user commented, “I KNOW Cardi is smart, all the takes she shared on political/societal matters were extremely on point I thought.”
One user added, “I’ve always found her smart and entertaining, but a lot of people are unwilling to listen to people (especially Black/Afrolatina women) if they don’t meet their perceived standards for intelligence. A lot of people call her a lot of things I don’t want to repeat for her appearance and past, but she’s really smart, and she defends the right people. (Especially when she dragged Peter Gunz…).”
One commenter replied, “I have learned so much from Cardi’s interviews/lives where she talks about politics.”
2. Ken Jeong
One user shared, “Ken Jeong is a literal doctor.”
Another user added, “We know. He tells us every chance he gets. And it’s funny every time.”
“Agreed. Being academically talented doesn’t mean one is intelligent, at all. Having said that, I think Ken Jeong is a pretty intelligent guy,” one user replied.
3. Natalie Portman
One Redditor posted, “The first person that comes to mind is Natalie Portman.”
One user replied, “IIRC she was in the Galactic Senate representing Naboo back in the Republic days.”
Another user asked, “Wasn’t she a Harvard graduate?”
One user answered, “Yeah she is: she has a degree in psychology.”
4. Mayim Balik
One Redditor shared, “Mayim Bialek is literally a neuroscientist.”
Another user added, “Fun fact—Mayim Bialek got her PhD in the same program as I did, and they provide us with the stats on what kinds of jobs grads end up getting. There is only one in the ‘actor/actress’ category.”
One commenter said, “Publishing research in the hard sciences is challenging and often requires you to jump on a project with a really good PI or lengthy postdocs to get that publication. It would make sense that an actress wouldn’t be too motivated to push for the publication of a dissertation. It can take up to a year or longer to publish the results. She’s busy doing other things.”
5. Cindy Crawford
One user commented, “Cindy Crawford was her high school valedictorian and was majoring in biochemistry (or something similar) at Northwestern, IIRC.”
Another user added, “She had a full scholarship to Northwestern IIRC as well. I had a friend who went to high school with her in IL. She was super brainy and was valedictorian, and everyone at school was shocked to learn that she was dropping out of college to model.”
6. Hedy Lamarr
One Redditor added, “Old Hollywood example, but Hedy Lamarr.”
Another user replied, “She was brilliant, and her frequency hopping technology was the basis for modern day wifi and Bluetooth, among other things.”
One commenter exclaimed, “And GPS!”
One user commented, “I think she wins this thread, nowadays actors/celebrities are just not on this level.”
7. Jodie Foster
“Jodie Foster graduated magna cum laude from Yale,” one user shared.
Another commenter added, “She’s also fluent in French, but she went to a French school when she was younger.”
One Redditor confirmed, “Yeah, she spends a lot of time in France, which keeps her fluent, like properly fluent where she can have sophisticated discussions in the language. She has also made some French films. Not that being multilingual necessarily makes you super smart (in many parts of the world, it’s common to speak multiple languages), but by all accounts, JF is as comfortable in French as she is in English.”
8. Keanu Reeves
One user posted, “Keanu Reeves. He seems like a very intelligent guy. I’ve heard him talk about stuff like AI, Deepfakes, Metaverse, etc. recently, and I also found out that he has written and published a whole book of poems. Also, he keeps dropping banger quotes like Colbert asking him ‘What happens when we die?’ and him answering, ‘The ones who love us will miss us.’ On the Drew Barrymore show, she asked him, ‘Are you a lover or fighter?’ and he replied, ‘If you can’t fight for your love, what kind of love do you have?’ He may not have the educational qualifications, but the guy clearly knows and understands life.”
Another user added, “He’s also been described as an incredible observer, listener, and deeply empathetic person.”
One user also shared, “You definitely don’t need qualifications to demonstrate intelligence: I’ve got a PhD and my sister’s a nurse, and she’s got more intelligence (and far more common sense) in her little finger than I have in my entire body.”
9. Shakira
One Redditor added to the thread, “Shakira.”
Another user replied, “Her lyrics in Spanish were above everyone else in Latin America when she started. Her interviews were very deep, and she was just a teen. Reaching the crossover and sustaining it for so long. From a Middle Class background with no hyper-educated parents. Discovering Pique’s cheating ways with her marmalade analysis, lol. She’s really a smart*ss.”
Another confirmed, “I knew about the languages years ago but the marmalade thing is next level. That’s like the main character smart, lol.”
“Spanish, English, French, Catalan, Italian, Portuguese. She also can speak a bit of Arabic, but I don’t know how much,” added by one user.
10. Dexter Holland
“Dexter Holland (lead singer of The Offspring) has a PhD in molecular biology from USC,” one Redditor shared.
Another user replied, “Also flies fighter jets in his spare time and has flown the band to and from gigs on more than one occasion. Dude is literally just out here doing all the side quests.”
11. Stephen Colbert
One user shared, “Stephen Colbert is one of the smartest celebrities, in my opinion. He not only possesses a quick wit and comedic genius, but also an impressive level of emotional intelligence. Also, his extensive knowledge of Lord of the Rings is remarkable, and he has shown himself to be a true expert on the subject.”
Another added, “Yes, he’s one of my picks too! A genuine nerd (in the best possible way), and he really comes across as an intelligent person.”
“Listening to him being interviewed, you can really feel his intelligence shining through. He’s just a naturally bright and analytical person,” one user responded.
12. Chris Pine
One user posted, “Chris Pine, literature major.”
Another added, “He used to write erotica too. A perfect man, lol.”
“I always wonder if he’s published any of it under a pseudonym,” one user mused.
Another Redditor concluded, “Chris Pine comes off as incredibly smart in simple interviews too, and never forget his erotica writing class. I’d pay good money to read his writings.”
Do you agree with the list above? Don’t be shy! Share your thoughts below.
Original source: Reddit.
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Memorial Day is known as a great time to score deals on big-ticket items or to make any smaller purchases that you may have been putting off.
Many retailers will start discounting items the Friday before Memorial Day, so you’ll have a whole weekend to shop. Here are the best deals this year!
What’s Ahead:
Best all-around Memorial Day deals
Walmart – Save up to $1,000 on Samsung TVs; get discounts on patio and garden, toys, clothing, home improvement, pets, beauty, and more.
Amazon – The Memorial Day sale features summer savings deals from outdoor living, cooking, and barware to electronics and beauty.
Macy’s – Get 20%-60% off furniture, rugs, and mattresses, plus a free box spring or adjustable base with a qualifying purchase. Save 20% to 50% off select clothing styles, plus get an extra 20% off kids’ and baby clothes with the offer code CUTE.
JCPenney – The sale features up to 50% off mattresses, 40% off furniture, and up to 50% off home items, plus additional coupons on clothing, jewelry, and portraits.
Target – Save up to 25% on furniture, lighting, and home decor; save up to 20% on bedding and up to 15% on patio furniture, plus get free same-day shipping on orders over $75 through May 31.
Appliances
Find fantastic deals on large and small appliances, from refrigerators and washing machines to Roombas and coffee makers.
Lowe’s – Save up to $500 on qualifying appliances, plusfind Memorial Day deals on everything from small appliances and patio furniture to grills, tools, and home improvement. Get free local delivery on appliances when you spend a minimum of $299.
Best Buy – Save big on major appliances during the Memorial Day sale. Don’t forget to take advantage of the Price Match Guarantee.
Home Depot – Snag appliances up to 30% off, and find discounts on lawn equipment, power tools, home improvement items, and more during theMemorial Day savings event.
Mattresses
May is the best time to buy a new mattress. New models come out in the Spring which makes Memorial Day weekend sales the prime time for a mattress upgrade.
Avocado Green Mattress – Save $100 on green and vegan hybrid mattresses with the code HONOR through June 7.
Birch – Get $200 off, two free Eco-rest pillows, and free delivery with code MEMORIALDAY200.
Casper – Get 15% off mattresses, 10% off everything else, and 50% off final sale items.
Cocoon by Sealy – Save 35% off mattresses, plus free pillows and sheets during its biggest sale ever; the sale ends May 31.
DreamCloud – Get $200 off mattresses, plus $399 worth of accessories included; the sale ends May 30.
Haven – All mattresses are 50% off storewide, plus 30% off accessories.
Helix – Take up to $200 off mattresses, plus receive two free Dream pillows.
Mattress Firm – Take up to $500 off mattresses and receive a free adjustable base on a queen mattress purchase of $699 or more by using the code ELEVATE.
Nectar – Receive free pillows, sheets, and a mattress protector —a $399 value— with a mattress purchase.
Purple – Receiveup to $400 off a mattress, pillow, sheet, and mattress protector bundle.
Puffy – Get $300 off plus two free pillows with every purchase.
Serta – Save up to $1,000 off a mattress and base through June 7.
Tempur Pedic – Save up to $500 off select adjustable mattress sets.
Tuft & Needle – Save up to 20% sitewide through May 31.
Electronics and gaming
Aside from Black Friday, Memorial Day is one of the best times of the year to snag discounts on televisions, computers, smartwatches, games, and other electronic devices.
Dell – Get deals on PCs, laptops, monitors, and more during its summer sale event.
HP – Save up to 47% on select products, plus get limited-time deals daily.
Xbox – Get three months of an Xbox Game Pass subscription for $1.
Best Buy – Snag big-screen 4K TVs starting at $279; save up to $200 on Windows laptops.
Microsoft – Score a variety of discounts on a Surface, save up to $500 on select PCs, or cash in discounts on Xbox accessories.
Furniture, home decor, and improvement
If you’re looking to freshen up your home, now is the time to stock up on home goods, tools, and any remodeling supplies.
Overstock – Overstock’s Memorial Day Blowout Sale features up to 70% off thousands of items, plus free shipping on everything.
Pier 1 – Pier 1’s Memorial Day sale includes up to 50% off rugs, lighting, indoor and outdoor furniture, and home decor. Plus you can bundle a variety of candle fragrances for 15% off.
Wayfair – Snag deals up to 70% off during the Memorial Day clearance.
American Signature Furniture – Up to 20% off and 48 months of promotional financing.
Society6 – Their Memorial Day sale features 40% off wall art, 30% off home decor, and more.
Bed Bath & Beyond –Save up to 25% on outdoor furniture, decor, and kitchen appliances.
Ace Hardware –Discounts on lawn care and equipment, grills, patio furniture, and power tools through May 31.
Costco – Member-only savings include deals on patio furniture, mattresses, appliances, and electronics through June 13. Save an additional $150 when you buy two qualifying items for your home.
Clothing
Spring and summer clothing sales are upon us, and it’s the perfect time to give your closet a refresh. Find winter apparel on clearance and save on spring and summer fashions.
ModCloth –30% off sitewide, plus an extra 50% off sale items.
Nike – Get up to 40% off on markdown items.
Victoria’s Secret – Save 30% to 70% off more than 1,800 styles.
Old Navy –Save up to 50% off storewide with styles as low as $5.
Men’s Wearhouse – Get up to 85% off original prices.
Zappos – Save up to 30% off footwear, clothes, bags, and accessories.
Banana Republic – Receive an additional 50% off sale styles and 30% off regularly priced items.
Bloomingdale’s –Save 60%-70% off some clearance items plus save 30-50% off select clothing styles.
Outdoor
Prepare for a summer of fun by loading up on any outdoor equipment you might need.
Bass Pro Shops – Its outdoor sale runs from May 20 to June 2 and features discounts on tents, fishing gear, yard games, clothing, and camp furniture.
REI – Memorial Day coincides with its big anniversary sale. The deals include 30% off clothing, 50% off Nalgene water bottles, and 25% off select outdoor gear.
How to save more on Memorial Day
According to Consumer Reports, May is the best month to buy air conditioners, freezers, grills, mattresses, strollers, smartwatches, lawn equipment, and other home improvement and decor items.
The deals don’t stop at the Memorial Day sale. Many retailers will offer additional discounts on top of sale prices if you sign up for a rewards program, email updates, or a store credit card. You may also snag a promo if you’re a student or if it’s your first order.
Poke around to see if you can find any promotional offers and pay attention to any pop-up ads so you don’t miss an opportunity to save money on your purchase. Usually, a sales representative will ask you to sign up if you’re physically in a store, but you can ask during checkout if not. Some businesses may not let you combine coupons while others do. Either way, it’s worth a try to rack up savings.
Furthermore, big-name retailers like Best Buy offer a price match guarantee, so shop around to see if you can find a product cheaper elsewhere before you buy it. That way you know you’re getting the best deal around.
Summary
Memorial Day weekend is one of the best times of the year to go shopping. Just about every retailer will offer promotions, and you’ll score the deepest discounts on appliances, mattresses, and seasonal goods. Add more savings to your purchases by signing up for a rewards program or by taking advantage of price match guarantee promotions.
As you’ve probably noticed, many people are traveling this summer. If that includes you, there are ways to save a bunch of money (and maybe a little sanity) while traveling this summer.
How can you navigate this high-demand travel environment while controlling costs and minimizing headaches?
Here are our top tips for travel this summer and how to overcome problems you might run into along the way.
Fly without breaking the bank
You’re not wrong if you think flights are more expensive.
Fares for summer travel have risen, sometimes dramatically, compared to both 2022 and 2019, according to data provided by the Airlines Reporting Corporation, a travel intelligence firm and ticket processor. The company says average fares were 9%-37% higher for the top 10 summer destinations, which include Yellowstone National Park and Hawaii. Flights are exorbitant to Europe this summer, too.
Fortunately, there are several strategies to reduce the cost of your flights.
Let the prices and availability decide your destination
If you want deals, this summer may be the one to let special offers inspire your next trip. Keep an eye on our flight deals, and book something that sounds interesting — either because of a good price or solid points and miles availability. The flexibility to go wherever the price is reasonable can lead to big savings.
Consider alternative airports
With prices on the rise, now is the time to be flexible and check all nearby airports.
For example, Houston and Chicago have two airports. The New York City area has three. It may even make sense to get to one city by flying to another before taking a short train ride for the rest of the journey, like flying into Philadelphia and catching a train up to New York. Strategies like this can help you get to your destination on a flight with better pricing or award availability.
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Expand your search for awards when your first attempt strikes out if you want to avoid the highest prices this summer.
Use positioning flights
Positioning flights are not realistic for every situation or trip, but they can often offer better award availability or pricing than those from your home airport.
Can you get to your destination for a lot less by starting in Seattle or Chicago, for example? Would adding another flight to a different airport ultimately save you money or miles?
Just make sure you leave enough time between flights to avoid any unnecessary travel headaches.
Book a backup plan
If you can’t get the flight you really want, book an alternative trip with that same airline. Then, get on the standby list for the flight you really want.
Plan your itinerary so you’re at the airport in time to get on that other flight. You can also monitor other flights and take advantage of same-day change policies.
Use up your points and miles
Summertime is a great time to use up points and miles you were hoarding. One of our big pieces of advice at TPG is to earn and burn those airline and credit card points and miles. You’ll maximize the redemption value if you can use them when cash prices are high, especially if you can find a mileage deal.
Fly on a holiday
Have you noticed that flights the day before Thanksgiving are extremely expensive, but flights on Thanksgiving morning are often cheaper? That’s because everyone wants to get to their final destination before the holiday.
This phenomenon plays out during some summer holidays, too, so look to fly the morning of the holiday to see if that lowers the price. Flying on July 4 is cheaper, generally, than flying on July 3 or July 6.
Get a hotel at the right price — and place
The good thing about hotels is that there are usually a lot of options. The bad thing about hotels is that there are usually a lot of options.
Having multiple properties to choose from can sometimes make the process of picking one feel overwhelming. However, if you have a stash of points, you can use those to narrow the field.
Here are our tips for locking in the right hotel for your trip.
Instead of burning cash, consider using your points
Just like with flights, points redemptions can make a lot of sense when hotel rates are high. Do you have Chase or American Express points you can transfer to a hotel program? Or are you sitting on a bunch of Marriott Bonvoy points? Several of us at TPG like to transfer our bank points, like Chase Ultimate Rewards points, to World of Hyatt for otherwise-expensive hotels (like the Park Hyatt Paris Vendome).
Book early and use a flexible cancellation policy
Booking a refundable hotel that seems right while you finalize everything else may be the way to go, even if you’re not 100% certain you’ll stay at that hotel. Avoid “pay now” rates in favor of a room that you can change or cancel without fees. Many award bookings allow you to cancel up to a couple of days before check-in, but always double-check the terms.
Use your elite status
Some hotel programs set aside rooms for elite members or will bump non-elite guests in favor of those with status if all the rooms are booked. Taking this a step further, travelers with top-tier Globalist status in the World of Hyatt program have a concierge who can help reserve properties. Take advantage of these perks if space is limited.
Additionally, your elite status may be the key to money-saving perks such as waived resort or parking fees, free breakfast and complimentary lounge access.
Discover similar locations
If you don’t need to be in a specific location, this may be the time to change things up a bit.
For example, if you’re seeking time on the beach, consider the panhandle of Florida or even the coast of Alabama instead of Miami and other popular parts of South Florida. Think of places that seem similar but may have better pricing if you’re running into sky-high rates.
Book directly
Instead of booking a room through a portal or online travel agency, reserve one directly with the hotel. By booking directly, you’ll likely have access to more flexible terms, as hotel cancellation policies are typically more forgiving. Additionally, if something goes wrong, you’ll have an easier time changing your itinerary since you’ll be dealing with the hotel directly instead of a third party.
Consider alternative accommodations
If you can’t find hotels that work for you, consider vacation rental platforms like Vrbo and Airbnb, as well as hotel-branded vacation rentals like Homes & Villas by Marriott Bonvoy, Mandarin Oriental Exclusive Homes and Accor-affiliated Onefinestay.
You can also go camping, glamping, stay in a “tiny home,” or rent a recreational vehicle for a few nights. There are even ways to use points to book vacation home rentals.
Score an affordable rental car
While not quite the same level of “car rental apocalypse” we saw in 2021, there are still some shortages of rental cars. There are already summertime sellouts happening in select leisure destinations. Hertz, as an example, is limiting one-way car rentals in Europe this summer due to supply constraints.
Even when vehicles are not sold out, demand (and prices) are still quite high, in part because car rental companies haven’t been able to completely replenish their fleets.
Planning ahead and leveraging your elite status can be the difference between getting a rental car and not getting one at all, according to Jonathan Weinberg, founder of AutoSlash.
Book first, plan later
Prices rise, and availability shrinks as you get closer to your travel dates. Take advantage of flexible car rental rules that usually provide a “pay later” option and book now, even if your plans aren’t finalized. Since car rental prices are up compared to pre-pandemic numbers, according to Weinberg, car rental prices may make or break some summer travel plans.
Use coupons or discount codes to save
If you’re a member of AAA or AARP, have a Costco membership, are a veteran or work for a large company with a car rental discount code, pull all of these levers. You might be eligible for discount codes you didn’t even know about.
Don’t despair if none of those reduced rates applies to you. AutoSlash can track prices and look for eligible coupon codes, too.
Leverage elite status
Having elite status with a car rental company can be the difference between getting a car and not — even if you have a reservation. That’s because cars are sometimes set aside exclusively for elite members.
Additionally, car rental program members can often skip the line at the counter and go straight to the lot, which can be what it takes to get one of the last vehicles. Luckily, you may already have a credit card that offers car rental elite status, which you could use to status match with other car rental loyalty programs.
Look beyond traditional companies and locations
Most people search for rentals at the airport with the standard companies. If you’re not finding good results, consider off-airport locations or try alternatives like Kyte, Turo and Silvercar.
Consider a longer rental
If you have trouble finding an available or affordable rental car, try adjusting the rental period. Here’s an example of how adding one day to trigger a monthlong rental cut the price by about $3,000:
Just know you should plan to keep the car for the full rental period, as returning the car early has an inherent risk of the car rental company charging a fee or adjusting pricing back to the daily rate. However, this avenue can unveil better prices and expanded inventory.
Visit national parks for less and without the crowds
The busiest national park in 2021 (Great Smoky Mountains National Park) saw 14.1 million visitors, according to statistics from the National Park Service. At the opposite end of the spectrum, Aniakchak National Monument and Preserve in Alaska saw just 145 visitors in 2021.
While the major parks are undoubtedly busy, there are still parklands that are less frequented than others, though you’ll still want to plan ahead.
Here’s everything to keep in mind for a national park adventure this summer.
Book in advance
Many parks require advance reservations for campsites and lodging inside the park’s boundaries.
How far in advance you can book varies, but these limited reservations fill up quickly at the more popular parks. Find out when reservations open for the date you want, and plan to book as soon as possible.
Stay outside the park
You might be dreaming of a night in a rustic cabin inside a national park, but getting that reservation could be challenging or costly, especially if you’re unable to pay for it with points.
However, just beyond the park, there’s probably a hotel where you can pay with points. For example, the SpringHill Suites just outside of Zion National Park is a great property if you have Marriott points to spend.
Make reservations
Some parks limit how many people can visit on any given day. Others place limits on how many people can go on a particular hiking trail. Some locations even require you to enter a lottery to get a chance to visit.
Apply for these permits and lotteries as early as possible for a better chance of securing access.
Avoid ‘free days’
It may sound counterintuitive, but “free days” at national parks may not be the best time to visit, as they tend to be particularly busy.
Instead of visiting on a weekend, holiday or day with free admission, aim for an early morning in the middle of the week for more elbow room on hiking trails and at can’t-miss natural wonders.
Visit alternative parks
Given the sheer number of national parks, national monuments, state parks and protected areas in the U.S., there’s likely a parkland near you that isn’t regularly packed with people. In fact, there may even be a park that offers similar geography to the one you’re considering but with a slightly more remote location and, consequently, thinner crowds.
For example, the second-largest canyon in the U.S., Palo Duro Canyon in the Texas Panhandle, sees 4 million fewer visitors per year than the Grand Canyon.
Plan for maximum enjoyment with minimum stress
You may have all types of activities in mind for this summer: theme parks, a road trip to visit grandparents or even an isolated beach getaway.
To cut down on travel headaches and bank account woes for the many trips you hope to take, consider these helpful tips.
Visit amusement parks on weekdays
While summer is a peak travel season since kids are out of school, many parents are still working Monday through Friday, meaning weekdays are generally less crowded. As a result, visiting a theme park in the middle of the week and arriving early in the morning typically leads to shorter lines for rides and shorter waits at in-park dining venues. It may even help you score cheaper tickets and lodging.
Ditch major theme parks
Growing up in Ohio, I had easy access to Kings Island and Cedar Point — two great theme parks that didn’t require flying to Florida or California.
Do as my parents did when I was a kid and look for regional parks that provide a lot of fun without the hefty price tag. Getting tickets will probably be easier, plus you may not need to add flights or hotels to the list of expenses.
Book Disney reservations early
You still need actual reservations (not just tickets) for Disneyland and Disney World.
To avoid any unexpected surprises, lock in your reservation as soon as possible to guarantee access to your preferred park, as they can sell out.
Reserve airport parking in advance
If flights and airports are packed, you can expect full parking lots, too.
Reserving airport parking ahead of time can be the difference between having a spot and not — or paying extra for the premium or far-away lot. If you aren’t having any luck finding a space at the airport, try snagging one at an off-airport parking location that offers shuttle service to the terminals.
Take a road trip
When you fly, you may have to buy four tickets for your family. When you drive, you don’t have to put gas in four cars.
The price of gas has come down lately, and a road trip may be calling your name this summer. An added bonus: Driving your own car means you won’t need a rental car at your final destination.
Look for coupons and codes
You don’t usually see Marriott or Delta Air Lines on Groupon, but activities are definitely more prolific.
Watch for coupons, group deals or sales for activities you’re planning to do during your trip. From roller coasters to roller derbies, the internet offers all kinds of deals, midweek sales and discount codes for activities that can lead to big savings. AAA, AARP and other advocacy memberships can help here, too.
Buy gift cards on sale
This tip can apply to many areas of life, but it’s especially true for theme parks and other activities.
Your local supermarket, big-box store or office supply store may sell gift cards at a discount. E-commerce sites also sell discounted gift cards.
When buying gift cards, use shopping portals whenever possible and pay with a card that will earn maximum points. Once you have your gift cards in hand (or your email inbox), use them to purchase Disney tickets, a hot air balloon ride or whatever activity you’re hoping to enjoy while on vacation.
Consider a cruise
While we’ve written about sold-out theme parks and hard-to-come-by flight deals, you should know that cruises are not quite as expensive as many other types of summer vacation. You’ll often save money when you account for the costs of flights and hotel rooms for multiple nights. With a cruise, you could simultaneously unlock serious savings and avoid crowds.
Hunt for deals
Cruise deals are not as plentiful as they were at the peak of the coronavirus pandemic. However, you can still find amazing deals on cruises. If you are flexible, sometimes cruise companies offer substantial deals on last-minute cruises if they have excess inventory (unsold cabins).
It’s not uncommon to see deals on cruises pop up, like this one back in March, but you need to act fast when you see them. Virgin Voyages has been offering some incredible deals this year, including a cruise for just 40,000 Virgin Atlantic points.
Look for bundles and packages
You may find that you can also save by bundling items. Search for deals on drink packages or onboard spending credits, or consider “kids sail free” options — even if the first number you see (the price for an adult) doesn’t look like a bargain right away.
Bottom line
Summer is here, and just like last year, prices and demand are through the roof.
It is possible, however, to avoid hordes of tourists if you’re looking for some peace and quiet. You may even be able to visit a popular destination without spending a fortune, having a 16-hour layover or coughing up all of your airline miles to get there.
Regardless of where you plan to go, flexibility is the best thing you can bring to your travel plans. You should book now (if you haven’t already) so you can make the most of your summer without breaking the bank.
With the S&P 500 still down more than a third from its 2007 high, we’re all a little unsure about our retirement plans these days. So it’s time for some good old-fashioned elbow grease. A little effort now should make for a lifetime of security and peace of mind. And the first step is to run your numbers through financial calculators to estimate whether you’ll have enough saved to kiss the boss goodbye. (Metaphorically, of course.)
The calculators’ answers are important information. But what’s even more useful is changing the variables to see what most improves your chances for success. A retirement plan has a lot of moving parts — how much you save, where you live, when you start taking Social Security benefits — and some decisions will have a bigger effect on your nest egg than others.
The factors that have the biggest impact on a retirement plan vary from person to person. But to demonstrate how you can fiddle with your factors to analyze your own plan, let’s examine the retirement prospects of a hypothetical worker — whom we’ll call Hilda, as I’m a sucker for good German names — and see how dialing her numbers one way or the other changes her projected retirement income. Here are Hilda’s particulars:
Age: 55
Marital status: Single
Current income: $60,000
Desired retirement age: 65
Desired retirement income: $45,000
Estimated age at death: 95
Current savings: $100,000
Annual contributions to retirement accounts: $6,000
Assumed annual return on investments: 8%
For our analysis, we’ll use the “Am I saving enough? What can I change?” calculator found among the retirement calculators at The Motley Fool. Once you’ve entered your numbers and hit the “results” button, the calculator provides the number of months that it estimates your savings will last given your desired retirement income. In Hilda’s case, here’s the calculator’s analysis: “Your living expenses after retirement will be fully funded for 127 months.” Divide by 12, and you see that her money is expected to last 10.6 years. Unfortunately, that’s not good enough. If she wants to retire at 65 and expects to live until 95, she needs her money to last 30 years, or 360 months.
So what should Hilda do? Here are her options and possible outcomes, adjusted a single factor at a time.
Save More Hilda’s current savings rate is 10% of her income. What if she ups that to 15%, or $9,000 this year? According to our calculators, that will make her income last 155 months — an additional 2.3 years. That’s a fine first step, but it still has her running out of money in less than 13 years.
Let’s say she, through a drastic lifestyle reduction, managed to contribute the maximum to her 401(k), which in 2009 is $22,000 for someone age 50 and older. That would supersize her portfolio enough to last an estimated 322 months, much closer to the 360-month mark. But she probably can’t save 36% of her income. She’ll have to look at other options.
Spend Less in Retirement What if Hilda decides she can live on a retirement income of $40,000 instead of $45,000? After all, she’ll no longer be stuffing her 401(k) or paying Social Security and Medicare taxes (7.65% of each and every paycheck), and her income-tax bill will drop, too. Maybe she’ll also have eliminated her mortgage by then.
Dropping her annual income requirements by $5,000 adds 51 months (4.3 years) to her portfolio’s estimated lifespan. Not huge, but not negligible, either. However, Hilda feels this would be cutting costs a little too close. She wants to look at other possibilities.
Retire Later What happens when Hilda continues to save just 10% of her income but retires at 68 rather than 65? In that case, she’d have three more years of saving, a higher Social Security benefit (because of her higher lifetime earnings and her beginning benefits later), and she’d need her money to last just 324 months.
In this case, her money would last 255 months, or 21.3 years. By retiring three years later, she’s doubled the longevity of her portfolio. But it still won’t last until age 95. However, if she retires just one more year later — at 69 — the calculator estimates her money will last longer than she will, which is the goal of any retirement plan.
Work in Retirement Unfortunately, Hilda can’t stand the thought of working full-time for more than another decade. However, she’s open to the idea of working part-time for the first five years of her “retirement.” If she earns $30,000 in each of those five years, her portfolio’s life expectancy improves from 127 months to 237 months, or almost 20 years. That doesn’t get her to age 95, but it’s a significant improvement. In fact, for every year she works part-time in retirement, she adds about two years to the estimated endurance of her portfolio.
Quick note: Because Hilda’s “full retirement age” for Social Security purposes is 66, she shouldn’t begin taking Social Security until then if she’s still working. When you begin benefits before your full retirement age but then earn work-related income, your benefit can be significantly reduced.
Tap Home Equity There are a few ways to use home equity to boost your retirement. Let’s see how Hilda could add these to her calculations.
First, let’s assume that she no longer needs her family-sized home. She actually has some equity in the home, so she sells it, buys a smaller home, and comes out with an extra $50,000. Realistically, given the state of real estate these days, it would take at least a year to sell her house and actually get that $50,000 into her hands to invest. If it earns 8% a year, it would add 58 months — almost five years — to the longevity of her savings. That’s a decent-sized boost, and that’s not counting the lower cost of heating, cooling, maintaining, and paying property taxes on a smaller home.
The other option is a reverse mortgage, which is when a bank pays you money based on the value of your home, and you don’t pay it back until you move. A reverse mortgage on a home currently worth $300,000 could provide a check of $1,200 every month that the borrower stays in the house, according to www.reversemortgage.org. Our retirement calculator doesn’t have an input field for reverse mortgage, but since it operates essentially like a pension, that’s where we’ll add the $1,200. Input “30” in the “Years you will receive payments” field, and check the “First payment adjusted for inflation” button (but not the others). Click on the results and — voila! — Hilda’s retirement is fully funded.
While that’s encouraging, we should mention that it assumes Hilda’s mortgage is paid off before she takes out the reverse mortgage. If she moves before she passes away, she’ll have to pay off the loan. Plus, reverse mortgages can be expensive. So our preference is to put off taking out a reverse mortgage for as long as possible, perhaps using it only in the case of an emergency, such as needing in-home long-term care.
Note: There’s a helpful infographic on reverse mortgage myths which can be useful on seeing if this might be the right choice for you.
Change Your Expiration Date Of course, Hilda’s original retirement plan is perfect as long as she dies within 127 months of retiring. All jokes aside, it’s worth remembering that we’re playing it very safe by assuming she’ll live to 95. According to the Social Security actuarial tables, only 10.3% of 55-year-old women make it to 95. If Hilda’s not in good health or longevity doesn’t run in her family, she might assume she’ll die at age 90. That doesn’t change how long her portfolio will last, but it does change how long she’ll need it to last.
A Mixture of the Factors We looked at many variables in isolation, but the best solution for Hilda is to tweak several categories to find a combination of changes that she finds palatable. For example, if Hilda downsizes to a smaller home (resulting in a $50,000 investment a year from now), saves $200 more a month, delays retirement to age 66, and works part-time for the first two years of her retirement, her money will last until she’s 95. Considering all her options, Hilda decides these are adjustments she can live with.
The Bottom Line Retirement calculators are very handy tools, but they’re not crystal balls. The results are based on many variables — such as inflation, investment returns, and Social Security benefits — that we can’t predict and could turn out worse than expected.
How should you handle this uncertainty? Run your numbers once a year, using updated account balances, savings or cd rates, and benefits projections (for example, put in the estimated Social Security benefit found in the statement you receive in the mail three months before your birthday each year).
Also, different calculators provide different results, so don’t rely on just one. For additional opinions, check out:
Despite their shortcomings, retirement calculators do a good job of estimating the value of one decision over another. For Hilda, the variable that had the biggest impact on her plan was retiring a few years later. But it will be different for other people. As one example, boosting a savings rate from 10% to 15% would have a much bigger payoff for younger investors than it did for Hilda, who was already within a decade of her target retirement date.
What will provide the most power to your plan? There’s only one way to find out. Visit a financial calculator and start plugging away.
This is the third part in a short series about insurance basics. In the first part, I explained how insurance works. In the second, I shared some general tips about how to save on insurance of all types. Today’s article offers info about auto insurance.
You’ve had car insurance since you were old enough to drive, but how much do you really know about it? At its heart, your policy probably contains a few basic types of coverage.
Liability Insurance
In most states, you at least need to have liability insurance, which covers the cost of any damage you do to other people or things with your car. (But note that liability insurance doesn’t cover injuries to you or other people on your policy; for that, you need PIP insurance, which I’ll cover in a moment.)
Insurance companies like to quote liability coverage as a series of three numbers, like 50/200/25. If that’s Greek to you, here’s a break-down:
The first number is how much, in thousands of dollars, the policy will pay for each person (besides you) injured in an accident ($50,000 in this example).
The second number is the total that the policy covers for each accident ($200,000 here).
And the last number tells how much property damage will be reimbursed ($25,000 in this case).
But there’s more to auto insurance than just liability coverage.
Tip: Many experts recommend that you carry automobile liability insurance coverage equal to your net worth — the total value of everything you own. This can be expensive to do on individual policies. Instead, it may be more cost effective to buy an umbrella policy, which gives you extra liability coverage above what your home and auto policies provide. I don’t know much about umbrella policies, but I’m actually hoping to learn more about them. If you’d like, I can share what I learn.
Collision and Comprehensive Insurance
As you can probably guess, collision insurance covers damage to your car when it hits (or gets hit by) another vehicle or object. But because collisions aren’t the only way for your car to get banged up, comprehensive insurance covers damage from events other than collisions: floods, fire, theft, alien invasion, and so on.
Collision and comprehensive coverage make more sense for newer vehicles, and are generally required if you’re still making payments on your car. They’re less necessary — and may actually be a waste of money! — on older cars. So, if you’re still driving around that 1970 AMC Gremlin, ditch the collision and comprehensive.
Personal Injury Protection (PIP) Insurance
PIP insurance is sometimes called “no-fault” insurance and is required in certain states. It covers medical costs (and possibly lost wages) if you’re injured in an accident. Your policy may also cover passengers and pedestrians.
Uninsured Motorist Insurance
No surprise here: Uninsured motorist insurance covers you and your passengers if you’re in an accident caused by a driver who doesn’t have insurance. It also covers hit-and-run accidents.
How to Save on Car Insurance
Every year, you spend hundreds — maybe even thousands — on car insurance, and chances are, you’re paying too much. The August 2008 issue of Consumer Reports estimated that the average family could save $65 per month by shopping around for car insurance.
Last week, I gave some general tips to save on insurance of all types. Here are some other ways to lower your costs on car insurance:
Ditch towing coverage. Towing — or “emergency roadside service”, as it’s sometimes called — is an easy cost to self-insure. (You likely pay $10 to $30 a year for towing insurance, and one tow costs about $100, which you can save quickly by not paying for towing insurance.) Sometimes your car will break down, but if it’s well maintained, that won’t happen often. Also note that if you’re in an accident, towing is usually covered under collision insurance — but check your policy to be sure.
Plan ahead. Compare auto insurance quotes before you buy your next car. Insurance costs are based on how likely a car is to be stolen, damaged, or to inflict damage, and how badly occupants tend to be hurt in accidents. Repair and replacement costs are also factors. Many insurance companies list cars with lower insurance costs on their websites.
Watch your credit. Most insurance companies now look at parts of your credit report to determine your premiums. This sucks, I know, but parts of your credit history have been found to correlate to what the company has to pay out. They can’t adjust your rates on your current car if you pay on time and in full, but anytime you add a new vehicle, its premiums can be affected by your credit.
Don’t pay monthly. Insurance companies charge a few bucks each month for monthly billing. To avoid that fee, pay every six months or even once a year, if possible. If you have to pay monthly, use your insurance company’s autopay program, which costs less because they don’t have to send you a paper bill.
Though it’ll always cost more to insure a new Corvette than a used Corolla, one of the best ways to keep costs low is to maintain a clean driving record. Insurance companies charge you based on how likely you are to file a claim — and accidents are the biggest source of claims.
Some insurance companies offer discounts for taking safe-driving courses. Others give low-mileage discounts — the less you’re on the road, the less likely you are to be in an accident. Be sure to ask about all the discounts you qualify for!
Note: Much of this material was drawn from the “Death and Taxes” chapter of my book, Your Money: The Missing Manual, which was published earlier this year by O’Reilly Media. You can download a sample chapter here. Image by Incase Designs.
Current mortgage rates are moving sideways today. We got a Consumer Price Index reading that was underwhelming, signaling to investors that the Fed might not be reading to hike rates at an aggressive pace just yet. Our recommendation remains, however, for borrowers to lock in a rate sooner rather than later. Read on for more details.
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Market Outlook 3.12.18 from Total Mortgage on Vimeo.
Where are mortgage rates going?
Mortgage rates hold steady after CPI
It’s another snowy morning here Connecticut. If there’s anything more fickle than mortgage rates, it’s the weather in New England. Anyway, the big economic event for the day was the Consumer Prices Index.
Financial market participants were let down by the average hourly earnings reading in the monthly jobs report for February last Friday, and therefore eagerly anticipating another inflation reading today.
In similar fashion, the CPI reading came in with a mere 0.2% rise from the previous month. Anyone looking for a breakout in inflation was sorely disappointed.
The resulting market reaction was what you would expect, stocks moving higher and Treasury yields moving lower. The yield on the 10-year Treasury note (which is the best market indicator of where mortgage rates are going), dropped down a few basis points right after the report was released.
However, we’ve seen the 10-year yield inch back up to where it started the day since then. Mortgage rates typically move in the same direction as the 10-year yield, so we’re seeing rates just about flat on the day.
Rate/Float Recommendation
Lock now before rates move any higher
Mortgage rates have increased dramatically so far in 2018. The end doesn’t seem to be anywhere in sight, either, as many analysts are calling for the 30-year fixed rate to climb all the way up past 5% at some point this year.
Learn what you can do to get the best interest rate possible.
Given this expectation, the smart decision for most borrowers is going to be to lock in a rate as soon as possible. The longer you wait on a purchase or refinance, the more likely it is you’ll be paying more with a higher rate.
Today’s economic data:
NFIB Small Business Optimism Index
The NFIB Small Business Optimism Index hit a 107.6. That’s slightly higher than the 107.0 that analysts had expected. This is the second highest level in the history of the reading.
Consumer Price Index
Consumer Prices ticked up 0.2% from the previous month in February. That puts it up 2.2%, year over year. CPI less food and energy also rose 0.2%, month over month, bringing it to 1.8%, year over year.
Notable events this week:
Monday:
10-Yr Note Auction
Tuesday:
NFIB Small Business Optimism Index
Consumer Price Index
Wednesday:
PPI-FD
Retail Sales
Business Inventories
EIA Petroleum Status Report
Thursday:
Jobless Claims
Philadelphia Fed
Empire State Mfg Survey
Import and Export Prices
Housing Market Index
Friday:
Housing Starts
Industrial Production
Consumer Sentiment
JOLTS
*Terms and conditions apply.
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
We’re all aware of the stories in the mainstream media about the instances of unconscionable behavior exhibited by rogue servicers, lenders, brokers or service providers during the foreclosure process. This was especially pronounced in the early days of the housing meltdown in 2008, but the images and perceptions linger today. The stories were easy to tell — compelling, albeit revolting.
Lawmakers reacted aggressively at all levels — as politicians are wont to do when faced with a seemingly unified public outcry. The demonization of the foreclosure remedy became even more pronounced during the pandemic of 2020, as officials scrambled to delay or prevent the process under almost any circumstances.
Yet, well-intended as the changes were, the expanded web of legal obstacles to a justified foreclosure on a significantly delinquent mortgage has actually served to hurt our communities. Lenders and servicers, hamstrung by well-intentioned but hastily assembled requirements, have been forced to adhere to arduous timelines or hurdle impractical obstacles throughout the foreclosure process.
Most times, this has only further delayed the inevitable, or even dissuaded lenders from foreclosing on properties at all. In so doing, they’ve been forced to roll the extensive costs of compliance, property management and other services they never intended to be involved with into the price paid by those who are able to take on mortgage loans.
The aggressive scrutinizing of our foreclosure process has had another unintended consequence on our neediest communities. Lenders and default managers, unable to reintroduce as many defaulted assets as possible into the housing market, are prevented from helping to address one of the biggest challenges facing the housing industry right now.
We’re facing a shortage of available, affordable housing. First-time homebuyers are struggling to find houses. Increased occurrences of deferred maintenance or “zombie foreclosure” are contributing to the blight of struggling neighborhoods, which in turn are burdened by declining property value across the board. There’s quite a bit of inventory out there that would have otherwise been returned to the market but for unduly harsh political theater. If anything, the vast majority of residents in such neighborhoods would likely support a faster foreclosure process.
Please don’t mistake this for a “blame the victim” type of argument. Foreclosure is not a matter to be taken lightly. It’s obviously not a welcome event for anyone involved. Lenders don’t make mortgage loans to become property owners themselves. Many of those in foreclosure are there because of dramatic life changes or traumatic circumstances. But foreclosure is an effective legal remedy to a real problem. Yes, it should be reserved for appropriate circumstances. Yet, increased and sometimes unnecessary compliance requirements have chilled the exercise of that right, and not always for the better.
Let’s not forget about the defaulted borrower, either. The stress that comes with enduring a seemingly endless process can be unbearable. An efficient process would empower these people to start over and provide them with the resources to start down the path of homeownership once again.
There are other, more effective ways to improve the foreclosure process beyond delaying or downright prohibiting it. Yes, egregious malfeasance should be punished. But the best default and REO professionals — whether real estate brokers, asset managers or other service providers — prefer to find ways to keep homeowners in their homes, or at least help relocate them with compassion. There are many different forms of education and counseling routinely made available to home owners at risk for foreclosure — a much better way to maintaining an owner occupancy rate than prolonged process delays.
“Foreclosure” is not a word most in the real estate industry like to say or hear. It means a solemn contract has been compromised and that someone’s version of the American Dream has failed — this time, at least. But it has morphed, as the result of unintended consequences, into what is now unjustly perceived as some sort of predatory practice. Foreclosure is merely a legal consequence designed to address an egregious and prolonged failure to fulfill the terms of a contract. Borrowers are not entered into default because of a missed payment or two.
Foreclosures have always required independent judicial oversight and an extensive time period to introduce the potential of modifications and work outs. But where counseling and negotiation still fall short or, far more often, when borrowers fail or refuse to accept mitigation options, foreclosure is a necessary part of the home buying cycle.
Let’s have another look at what can be done to ensure foreclosures are undertaken equitably and compassionately without adding yet another layer to compliance requirements. Let’s at least acknowledge the thousands of dedicated professionals working to return dormant or abandoned inventory to the housing market — especially in communities riddled with abandoned properties awaiting resolution. And let’s put more focus on the homeowners in these terrible situations. Let’s provide more resources to help them through their challenges and help restore their dignity with fresh starts as well.