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You want to learn how to be frugal but not cheap… then, you are in the right place.

Simply put… frugal living is saving money at it finest.

To be honest, though, learning how to be frugal can come with spending more money than you planned in the name of frugality. The truth can hurt. But, in order to be frugal, you must save what you would normally spend.

That means you are economical with money.

The list of 175+ frugal living tips seems like a great place to start when you are learning how to be frugal, right?

Wrong!

You need to focus on a few basic habits first. Set yourself up for success. And then, slowly incorporate more frugal ways to save money.

In this post, that is exactly what you will learn.

The frugal habits you need to be successful along with the best frugal life hacks to guarantee success.

Let’s dig in…

Can being Frugal make you Rich?

Absolutely yes!

The key is to save money from your frugal hacks.

Remember the age-old saying, “A penny saved is a penny earned.”

Every penny will slowly add up to the next money milestone.

If you don’t believe me, then check out this millionaire’s story of being frugal.

How Being Frugal can Cost You?

It can IF you are not careful.

Being frugal is about saving money. However, it is possible to spend more money in the name of frugality.

The first example would be being more than you need just because it is a good sale, deal, or clearance price that you don’t want to miss out on.

Next, in your search to find the cheapest option, you actually spend more over time replacing it because the quality isn’t quite the same.

There is a fine line between frugality, being cheap, and simply overspending on deals.

Just be weary of overspending money in the hunt of saving money.

How to be Frugal with Money

These are the habits you want to embrace to become a frugal person.

Personally, I like to think being frugal is being picky with my money.

I loathe my investment accounts going down, so why would I want to buy things that we don’t need or don’t matter in the long wrong. That is why I choose to be frugal with money.

Specifically, I choose to be economical with how we spend money.

Now, let’s dig in to understand how to be frugal with money.

1. Know Your Goals

First, you must know your goals. If you don’t have a goal, then you aren’t going to make any progress. Period.

In today’s society, it is SO easy to spend money without even realizing it. That is the point of business – they are out to market for your money (and they are good at it, too).

You must prioritize you first.

This is something we hear over and over. Prioritize your self-care before taking care of others. The same holds true for your money.

Action Step #1 – Sit down and write out your financial goals.

If this is something you haven’t done before, then check out our helpful guide to rocking your financial goals.

2. Understand your Spending Habits & Triggers

This one is HUGE!!

If you don’t know how and where you spend money without thinking, then you will never be able to stop the spending. You can’t slow the bleed.

First of all, I will admit that uncovering your spending habits is hard. It is introspective. It can be painful. Maybe even demoralizing.

But, until you let go of your previous financial failures, you won’t be able to move on.

This is an important step to make serious progress in your life. You may be amazed how this seemingly simple things will hold you back.

Action Step #2 – Review bank statements or credit card transactions. Look for things you bought without planning for them.

This will highlight your spending habits.

As for your triggers, watch your emotions and think what you automatically do when you are happy, sad, mad, and celebrating.

3. Save First

Oh my, pay yourself first.

This is something I focus on a lot at Money Bliss and for good reason. Saving money is the backbone to financial success.

If you don’t save money, then you are left scrambling when you need cash or stuck going into debt. This is a vicious hamster wheel that debt will overtake you.

Start by saving $10 a day. Many times you can find that money by uncovering your spending habits.

From there, look at increasing your saving percentage each month.

Action Step #3 – Figure out how much you save each week, each month, and your saving percentage. Brainstorm ways to increase how much you save.

To help our readers, you will find many spreadsheets and printables to help you figure out how much you save and track your savings progress. Once signed up on our email list, you will receive the password.

4. Spend Less Than You Make

Your expenses must be lower than your income. Period.

If you are currently spending more than you make, then you must look at ways to drastically cut expenses. Stop hoping that your situation will change and actually do something about it.

This seems like a very easy math concept. Yet, most people struggle with basic money management.

If you don’t believe that saving an extra $5 day, then think about having $1825 in your pocket.

Now, let’s flip it the other way, if you are overspending by $75 a week, then by the end of the year, you are in the hole $3900 plus interest if you took out debt.

Action Step #4 – Figure out your bare bones budget. Then, decide what fun spending items to keep to make sure you spend less than you make.

Here is a guide to help you figure out your bare bones budget. Also, you will find bare bones budget printable in our free library area.

5. Patience

Lastly, you must have patience.

Changing your money management won’t happen overnight. While you can have quick wins and successes, this is the race won by the turtle.

Patience comes with planning and that is one thrifty habit you should pick up.

When you become frugal with money, you plan how you spend your money and save your money. Many times, that means waiting for a sale to buy an item you need or accumulating money for another date.

Action Step #5 – Show self-restraint and try a no spend week or month.

By holding a no spend challenge, it will help you reshape your finances as well as help you prioritize what is important. As a reader, you have access to our no spend printables, too!

Frugal Life Hacks

These are the specific frugal hacks to save money.

These are the key areas you need to focus your energy on. Over time, they will become habits.

1. Pay Yourself First

Yep, this one again.

If you are frugal, then you pay yourself first.

You are focused on two things – how to save more money and how to make more money.

This pay yourself first concept will have you winning at money management – guaranteed!

2. Budget

A frugal person always has a plan on how they plan to spend their hard-earned money.

This makes sure that spending is always below income.

While many people hate the term “budget,” it doesn’t have to be constricting. We like to call it a “Cents Plan.” You make a plan for your money.

Just like you make a plan for your time on the weekend. Same concept.

The more you save now, the greater freedom you will have later.

3. Cook Meals at Home

Cooking food at home costs at least 25% of eating out. While the convenience of eating out is nice, it comes at a monetary and wellness cost.

You can make healthy meals under $10 for six servings. And not be a slave in the kitchen.

Shop the outer area of the grocery store. The expensive stuff is in the middle.

Hint: Try to incorporate a meatless meal 1-2 times per week. Plant based meals are cheaper to make.

4. Shop Less Often

This goes for general shopping, buying groceries, and adding items to your Amazon cart. The more often you go, the more likely you are to spend more money.

Decide ahead of time when you plan to shop (remember that patience concept from earlier).

For example, to get groceries for our house. I plan two pickups per month at the local grocery store and then have organic produce delivered on odd weeks with Misfits Market. Then, Costco run every month to 6 weeks. (Mind you… I have two children that are hitting the pre-teen phase.)

For me, I have shaved 30% off my grocery budget by implementing the strategy to shop less often.

5. Use Cash for Key Categories

If you are tempted to spend more than you should in certain areas, then you need to look at using cash.

When cash has been spent, you must wait until you full up that envelope again.

This helps so much with overspending.

You can do this with the cashless envelope system as well.

6. Own Less Stuff

The more items you have, the more it cost to buy and maintain.

So, by owning less stuff, you are accomplishing one of the most frugal life hacks to save money.

You don’t even need to become a minimalist. You just need to own what you need and that is it.

If you don’t believe me, look around and pack up anything you haven’t touched in the past 30 days.

7. Don’t Buy New

Buying new can be expensive. The best example of buying new is cars, trucks, and SUVs. The price instantly goes down the second you leave the dealership.

If at all possible, always look for used items that you can get at a discount or even for free.

With online forums and groups, it is much easier to find used items.

Of course, there is a caveat to this life hack; there are some things that are worth the investment and should be bought new. Just watch for sales or discounts.

8. Check your Receipts

It absolutely amazes me how many times I can be charged inccorectly. You would think with technology that this wouldn’t happen, but it does.

It takes a quick thirty seconds to scan your receipts and check for errors.

Sometimes, it may be the warranty you declined or double charged for apples. Other times, the sales price not have been rung up correctly.

Don’t hesitate to ask for the correct price!

9. Review Insurance and Ongoing Subscriptions

This may seem like a mundane task to do, but you could save yourself money.

This past summer, our homeowner’s and auto insurance went up again. We shopped around and ended up saving $1800. The same is true for cell phone and cable service.

You have to call and ask for discounts.

More often than not, these companies want you to continue as a customer and will lower your rate.

Insurance Options:

Automated Options to Save Money:

10. Switch to Reusable Products

When you throw something out, you have to buy new again.

This can fall into many categories. However, here are the main things you can reuse and ditch the waste.

This is what you want to look for:

11. Drink Water

Nothing is more frugal than drinking water.

The costs of various drinks can be a drain to any budget.

If you don’t like your tap water, then you can invest in a cheap filtration pitcher or even an under-mount filtration system. This is the one we installed and have been very happy with!

12. Watch Out for Fees

There are so many little pesky fees that can add up. Some examples include shipping, account maintenance, service fees, banking fees, etc.

While $2-8 may not seem like much, they will balloon over time. Look for promo codes or alternative ways to skip the fees.

13. Cut Cable or Unused Subscriptions

If you don’t use, then don’t spend money on it.

You can’t save money if you spend on things that don’t matter to you.

This is hard for many of us to do because we like conveniences and we don’t want to be seen as different.

Ways to Cut Cable:

The key when cutting cable is not to replace it with more subscriptions that end up costing more.

14. Collect Your Pennies

A true life hack to get you ahead financially is to know your money.

You know where you money goes. You know when you spend it. When you save it.

Also, you will never leave money on the table. If you see a penny, you pick it up and save spare change. If you lose a dollar, you want to get it back.

This means you are actively looking for ways to make more money. You want more pennies to collect that will add to your net worth over time.

15. Free Things to Do

The last frugal life hack is to always look for free things to do.

Here is a little secret… having fun doesn’t need to cost money!! We have been trained that having fun costs money. But, it is so not true!

Some of the best things in life are free.

For all of you, here is a guide of over 101 things to do without money.

Which Frugal Life Hack Will Save Money for You?

Being frugal is a lifelong habit. Yes, there are quick wins you can have here and there. But, in the long run, these frugal life hacks will have the biggest bank for your time.

Learning how to live frugally and be happy is about understanding your priorities and how you want to spend your money.

If you are serious about learning how to be frugal with money, then plan a time to examine your finances. In less than 30 minutes, you will uncover things to change the trajectory of your spending and saving habits.

Just remember… pennies do add up. So, watch your pennies and watch your net worth grow.

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

Did the post resonate with you?

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

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

Source: moneybliss.org

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Investing in art can add diversification to a portfolio if you’re ready to move beyond traditional stocks and bonds. Alternative investments like art can offer above-average returns and offset some of the impacts of market volatility.

Art investment has traditionally had a higher barrier to entry, as individual works of art may carry five and six-figure prices (or more). In addition, there are a number of risk factors when investing in art, including lack of liquidity and lack of transparency around pricing.

However, new ways to invest in art have emerged that make it a more accessible asset class to a broader range of investors.

What Is Art Investing?

Art investing refers to the purchase of works of art to sell them at a profit at a later date. Apart from owning individual artworks (which can be expensive and difficult to maintain), there are a range of new ways to invest in art, including:

•   Fractional share investing through online art platforms

•   Art funds

•   Art stocks

•   Non-fungible tokens (NFTs)

Buying art as an investment doesn’t require you to have an advanced art degree or professional background in the art world. You will, however, need to be willing to spend some time learning about this alternative investment to understand how the market works.1

How Art Investing Works

Investing in art requires a certain mindset, and doing your due diligence to size up what constitutes the best opportunities for you, depending on your goals.

Art, like other alternative investments, may require a much longer holding period for you to realize returns, which contributes to the lack of liquidity in this space. It may be challenging to find a buyer if the artwork or the artist is not in demand.

It’s also important to understand traditional art ownership, along with some of the newer investment vehicles.

Individual Works

Similar to investing in a traditional asset class like stocks, investing in individual works requires knowing some fundamentals: a history of the artist, their status (e.g., are they in demand?), the relevance of a given work, and a sense of whether it’s overvalued or undervalued.

The risks of choosing individual works include the possibility of fraud, the cost of maintaining the work (e.g., storage and insurance), and hidden charges, similar to investment fees (e.g., commissions and other costs). Given the fragility of most art, there is also the risk of physical damage or total loss.

Fractional Shares of Art

Owing to the high cost of owning blue-chip works of art (as well as other highly valued works) it’s now possible to buy fractional shares of art, similar to investing in fractional shares of stock.

There are a number of new platforms that sell fractional art shares, and each may have its own system and process (more below).

The risk of buying fractional shares of art is that, as with any investment, there are no guarantees of a return.

Art Funds

Similar to traditional mutual funds and ETFs, an art fund is a type of pooled investment fund. But unlike conventional equity funds, say, that hold many different stocks, art funds often hold only a handful of works. Investors who buy shares of the fund are buying into the collective, potential value of those works.

Art funds are generally structured as closed-end funds, but with a twist: investors typically contribute their capital over a period of three to five years, often with no returns for another specified time period (terms vary).

These funds are highly illiquid, and (in addition to the unpredictability of the art market itself) there are substantial risks to locking up your capital for what could be years, for an unspecified return upon redemption.

Alternative investments,
now for the rest of us.

Start trading funds that include commodities, private credit, real estate, venture capital, and more.

Types of Artists

There are generally three types of artists you may invest in:

•   Blue-chip artists: Blue-chip artists are individuals everyone has most likely heard of. Names like Van Gogh, Picasso, and Banksy are familiar to people both within and outside the art world.

Works from these artists typically carry the least risk because there’s always someone willing to buy them. The downside is that the average investor may not have sufficient capital to purchase individual blue-chip artworks since they can cost hundreds of thousands, if not millions, of dollars.

•   Established artists: Established artists are known artists whose works typically command higher prices, but have not yet reached blue-chip status. Investing in art from established artists can offer solid return potential with a moderate degree of risk.

•   Emerging artists: Emerging artists present the greatest risk since they’re still up and coming. However, you might be able to generate a sizable profit from investing in their art if their career takes off.3

Risks and Returns of Investing in Art

Investing in alternatives such as art carries risks that are similar to other alternative investments, like commodities, real estate, collectibles, and other assets. Investors who are willing to accept a higher degree of risk, however, may enjoy a substantial upside.

Here’s a side-by-side look at the pros and cons of investing in art.

Rewards Risks
Art investment offers the potential for higher returns.

Art can add diversification to a portfolio, allowing you to better manage market volatility and the impacts of inflation.

Investing in art can help you grow wealth while allowing you to support your favorite artists and contribute something to the art community.

A significant amount of capital is not necessarily required to begin investing in art.

Interest in art has persisted for hundreds of years, making it a reliable investment option for the longer term.

An investment in art is not guaranteed to be profitable.

Certain types of art investments offer limited liquidity, which could make it difficult to exit quickly.

Valuing artworks is often highly subjective, which could make it difficult for a beginning investor to determine what a piece is truly worth.

Owning individual artworks may entail paying maintenance and storage fees, as well as insurance.

Forgeries and fakes are a real part of the art world investors must contend with.

If you’re trying to decide whether to invest in art, consider your personal risk tolerance and investment horizon.

Dive deeper: Why Invest in Alternative Investments?

5 Ways to Start Investing in Art

When deciding how to invest in art, it’s important to remember that you’re not locked into any single path. You might choose multiple investment strategies to build out your art portfolio.

With that in mind, here are some of the best ways for beginners to start investing.

1. Fractional Art Shares

Fractional art share investing is a relatively new phenomenon. It works like this:

•   You join an art investment marketplace.

•   The marketplace vets works of art and lists them for investment.

•   You buy fractional shares of individual works of art.

•   When the artwork sells you get a piece of the profits.

Typically, you invest a minimum amount to buy a certain number of shares of a work you believe will appreciate. So you might hold 30 shares of a Basquiat piece and 20 shares of a Warhol.

The platform purchases and maintains the art; you don’t actually see or handle it. If it appreciates within a set period of time, the piece will be sold and profits will be distributed proportionately to each investor’s ownership amount.

The downside is that you might need $10,000 or more to get started on a fractional share marketplace. Additionally, you don’t get to choose when the artwork sells — that’s determined by the platform.

While trading fractional shares isn’t available on public exchanges yet, some fractional art platforms operate a secondary market whereby shareholders can execute trades.

2. Art Funds

Art investment funds are typically privately managed funds that offer investors exposure to multiple works. In that sense, they’re similar to traditional mutual funds.

Some art funds are index funds, meaning they seek to replicate the returns of an art market index, similar to a traditional index like the S&P 500. Other art funds are equity funds that try to beat the market.

If you’re considering art funds, check the minimum investment to get started. Certain funds may be limited to accredited investors, or require you to have $20,000 or more to purchase shares.

Also, consider the fund’s expense ratio, which determines your cost of owning it yearly.

3. Art Stocks

Art stocks offer a slightly different way to invest in art. Rather than funding individual artworks, you might invest in publicly traded companies that:

•   Manufacture art supplies

•   Handle art restoration

•   Sell art insurance

•   Produce art prints

•   Create digital art software programs or applications

•   Create software or apps used by museums

This type of art investment is more tangential, but may be worth a look if you’re interested in the art world in its entirety, not just individual paintings or sculptures.

Similar to investing in art funds, consider the minimum investment required to buy shares. And study the stock’s past performance and risks to fully understand what you’re buying.

4. Non-Fungible Tokens (NFTs)

Non-fungible tokens or NFTs are digitized versions of various works, including art. NFTs and their owners are recorded on the blockchain so they can’t be duplicated or reproduced.

If you’re weighing NFTs, carefully consider the risks as well as the amount you plan to invest. A good rule of thumb for this type of investment may be to limit yourself only to what you can afford to lose.

5. Individual Works of Art

You might invest in art by purchasing individual pieces. Again, you may choose from blue-chip, established, or emerging artists.

The advantage is that you can decide when to sell and you’re not necessarily locked in for decades. Art flipping, a controversial practice in art circles, involves buying works of art and selling them quickly for a profit. It’s similar to house flipping, another type of alternative investment.

If you’re interested in buying individual pieces, you might buy them from:

•   Galleries

•   Private dealers

•   Art auctions

Purchasing directly from the artist may also be an option, though this may require some negotiation to decide on a price.

Before buying a piece of art, consider the ongoing costs of ownership. For example, you may need to pay to have it professionally stored to avoid damage to the work. And depending on its value you may need to buy insurance for your investment.

The Takeaway

Art and other alternative investments can help you create a well-rounded portfolio. The important thing to remember is that art is an alternative investment, with specific risks and potential advantages. While you could make a profit with art investments, you could also lose money, so it’s wise to assess the risks before wading in.

Ready to expand your portfolio’s growth potential? Alternative investments, traditionally available to high-net-worth individuals, are accessible to everyday investors on SoFi’s easy-to-use platform. Investments in commodities, real estate, venture capital, and more are now within reach. Alternative investments can be high risk, so it’s important to consider your portfolio goals and risk tolerance to determine if they’re right for you.

Invest in alts to take your portfolio beyond stocks and bonds.

FAQ

Is art a good investment?

Art can be a good investment for people who have sufficient means to invest and are comfortable with the various risks. It’s possible to realize higher returns from art investments compared to stocks or bonds, but it typically requires a longer holding period. Reduced liquidity can make art a less attractive investment for people who are looking for near-term gains.

How do you start investing in art?

You can start investing in art by deciding which strategy you’d like to pursue. Do you like the idea of owning fractional shares, or share in an art fund? Would you prefer to buy stock in art-related companies? Or do you feel confident in your taste, and budget, as a collector to purchase individual works? Be sure to vet your all-in costs, how long your money might be locked up, and whether there are risks with one choice versus another.

Why do millionaires invest in art?

Millionaires may invest in art for different reasons, ranging from a desire for higher returns to a passion for art as a collectible. As alternative investments go, art can be profitable, though it does take some knowledge of the market to assess which pieces are most likely to see the greatest appreciation.

Photo credit: iStock/Antonio_Diaz

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Trinity Public Utilities District’s power lines snake through the lower reaches of the Cascade Range, a rugged, remote and densely forested terrain in Northern California that has some of the highest wildfire risk in the country. But for several years, the company has been without insurance to protect it from such a threat.

Trinity’s equipment was blamed for causing a 2017 wildfire that destroyed 72 homes and three years later its insurer, a California public agency called the Special District Risk Management Authority, told the utility that it would no longer cover it for fires started by its electrical lines. Trinity could find no other takers. 

The utility’s exposure comes as wildfires are already flaring up across the U.S. West in what could be a dangerous and prolonged fire season. 

READ MORE: Homeownership’s hidden costs rise 26% in four years

“If a fire were to start now that involved one of our power lines, it would likely bankrupt the utility,” said Paul Hauser, general manager of the local government-owned utility that serves about 13,000 rural customers in Trinity County, 200 miles (322 kilometers) north of Sacramento. That’s because without insurance, a lawsuit could put the utility on the hook to pay for damages to private homes and businesses, which could easily top the utility’s annual revenue of about $16 million.  

Western utilities and beyond are finding it prohibitively expensive, if not impossible, to insure against potential fire-related claims. The trouble comes after power companies from Hawaii to Texas have collectively faced tens of billions of dollars in damages from wind-driven wildfires linked to their equipment. The issue will become more pressing as climate change makes droughts more intense and frequent, heightening the chances of more destructive infernos.

“Wildfire risk is the number one issue for utilities,” said Michael Kolodner, the practice leader for the U.S. power and renewables industry at Marsh & McLennan Companies Inc., a US insurance broker. “This is impacting every single utility in North America.” 

READ MORE: Treat home insurance costs like a 1-year ARM, climate risk experts say

The insurance companies set up by the utilities are now limiting how much coverage they will provide to power companies exposed to wildfire risk, leaving them at the whim of the commercial marketplace where premiums are rising.

Overall, commercial wildfire insurance rates have gone up as much as 30% this year with premiums also increasing the past several years, according to Marsh. Portland General Electric, based in Oregon, said their fire insurance premiums doubled.

The insurance challenges are now making it more expensive and difficult for some utilities to attract the capital required to harden their grids against climate risks and build out the infrastructure needed to meet President Joe Biden’s goal of a carbon-free grid by 2035.

“If utilities can’t get insurance or if the insurance is really expensive, it’s harder for them to construct new facilities they need to build like transmission lines and distribution lines,” said Michael Wara, an expert on utility wildfire risks who serves as director of the Climate and Energy Policy Program at Stanford University. The problem is akin to potential homeowner being unable to secure a mortgage to buy a house because they can’t get property insurance, Wara said.

Randy Howard, general manager of the Northern California Power Agency, which has 16 public power utility members including Trinity, says the lack of commercial insurance is making it hard for some his utilities to attract financing to build high-voltage transmission lines that the state wants to connect to renewable energy projects.

“It’s impacting investors’ willingness to invest in these projects that we need to build,” Howard said.

READ MORE: Home insurance woes threaten mortgage lending, experts warn

The utility industry is openly discussing the need to set up a federal program that could provide a type of insurance backstop for smaller power companies that have limited financial resources. Such a fund would cover claims for utilities that have agreed to meet certain fire risk reduction standards. The fund could be modeled after one set by California after PG&E Corp. filed for bankruptcy in 2019 in the wake of starting some of the worst wildfires in state history. 

As it stands now, utilities have become the “insurer of last resort” when it comes to damage claims from wildfires tied to their equipment, said Emily Fisher, general counsel at the Edison Electric Institute, an investor-owned utility trade group. The industry has become difficult to insure because there isn’t a limit to their potential wildfire liabilities, Fisher added. 

Power companies also need to spend billions of dollars to make their infrastructure less prone to start fires, funding fixes such as installing weather monitoring equipment, burying power lines and replacing old poles. “It’s not a sustainable regime,” Fisher said.

 Warren Buffett agrees. In the billionaire investor’s recent annual letter to Berkshire Hathaway shareholders, Buffett said he’s reconsidering his utility investments due to the heightened wildfire risk in the West. Berkshire’s PacifiCorp utility, which operates in six Western states, was found liable in 2023 for destruction caused by the 2020 Labor Day fires in Oregon. PacifiCorp is appealing the decision. The utility faces wildfire claims estimated to be as much as $8 billion, according to a regulatory filing. 

“We are basically in the position of being the insurer of last resort because we cannot get enough commercial insurance,” PacifiCorp Chief Executive Officer Cindy Crane said at a S&P power markets conference in April. “We had a pretty good volume of wildfire insurance and we blew through that.”

PacifiCorp has obtained wildfire insurance, but its premiums have increased more than 400% from 2019 through 2022, a spokeswoman said. 

Utilities also have been turning to state governments for help. PacifiCorp backed legislation passed earlier this year in Utah that sets up a catastrophic fire insurance fund for utilities and caps non-economic damage claims arising from utility-linked fires.

In 2019, California set up a $21 billion wildfire insurance fund to prevent additional investor-owned utility bankruptcies after PG&E was driven into Chapter 11 for sparking fires in 2017 and 2018 that killed more than 100 people and destroyed thousands of homes.

California investor-owned utilities, which contributed to half of the fund, can qualify for the coverage if they meet certain fire safety standards. The fund covers claims above $1 billion, with the utilities having to find insurance up to that amount.

Even that has proven to be difficult. PG&E decided to self-insure against wildfire risk in 2023 after the utility saw its cost for commercial wildfire insurance as a percentage of coverage jump from 4.6% in 2015 to nearly 80% in 2022, when the utility paid about $746 million for $940 million in coverage, according to regulatory filings.

PG&E estimates its self-insurance program, which works by putting aside money collected from bills for possible claims, will save customers up to $1.8 billion over the next four years compared to commercial insurance coverage. Southern California Edison has also opted to self-insure after seeing its commercial coverage rates skyrocket.

However, publicly owned, government-run utilities like Trinity aren’t part of California’s wildfire insurance fund, leaving them entirely exposed. The state’s legal regime holds utilities responsible for damage claims from fires started by their equipment — whether they were negligent or not. (While the liability standard is looser in other states, it hasn’t gotten utilities off the hook in places like Oregon).

Trinity Public Utilities District is stuck in a problematic cycle where it can’t do the work required to make its own property safer from fire. The utility wants to widen the clearing around its existing lines on federal land from 20 feet to up to 130 feet to reduce fire risk, but it cannot start that work without a new federal permit. And it cannot get a new permit unless it has wildfire insurance.

“We are kind of the poster child for this issue,” Hauser, the general manager, said. “No one will insure us.”       

Source: nationalmortgagenews.com

Apache is functioning normally

Film director, producer, and screenwriter Nancy Meyers made Father of the Bride, Something’s Gotta Give, It’s Complicated, The Holiday, and many more iconic flicks. But beyond making some classic and beloved films, Meyers also established a signature interior design aesthetic. 

If you’re envisioning spending summer at the beach and entering your coastal grandmother era (like me), here are a few tips and tricks for a Nancy Meyers coastal summer at home.

Evie’s product selections are curated by the editorial team. If you buy something through our links, we may earn an affiliate commission, at no cost to you. We only recommend products we genuinely love.

Lots of Rattan

In Meyers’ films, rattan and woven items tucked throughout the rooms give them a coastal feel: baskets, area rugs, even blinds. These are great pieces for not only the summer season but can be used throughout the year! 

Target Threshold Large Natural Woven Round Basket, $30

Target Threshold Round Decorative Basket Natural, $40

Target Nuloom Alanis Jute Area Rug, $69

Target Threshold Woven Runner Rug, $100

To keep things organized and convenient, you might want to invest in this adorable wicker tray from Target. Light and easy to carry, this item will be the perfect accessory for all those summer evenings with guests. 

Target Threshold Rattan Tray Light Brown, $15

Meyers must have a soft spot for dogs, as they appear in a few of her films! If you’re in need of a new bed for the family puppy, IKEA offers this extremely sweet rattan dog bed.

IKEA UTSADD Rattan Dog Bed, $89

You can’t have a coastal inspired summer without a rattan or wicker chair. Meyers clearly loves them too, as you can find these chairs situated all over her sets. The fun thing about rattan or wicker chairs is they’re extremely versatile. Perfect for the porch in summer to soak in the hydrangeas or as a cozy office chair in the winter for reading books. 

Target Threshold x Studio McGee Woven Barrel Back Chair & Cushion, $280

IKEA also has an excellent selection of rattan chairs under $250. This adorable IKEA Wing chair reminds me of the rattan chairs my own grandmother had when I was small. 

IKEA Risholmen Wing Chair, $239

IKEA Holmsta Armchair, $219

IKEA Agen Armchair, $99

Summer is for entertaining on the patio or near the pool, and that may mean you are in need of a rattan bar cart! (There can never be too many woven or rattan textures, in my opinion.) 

Target Threshold Exmore Serving Cart Rattan, $250

Pops of Blue

Meyers is known for designing her coastal sets by mixing patterns, textures, and colors. She allows the homes to have a neutral base while simultaneously adding in patterns and bold pieces (in a way that isn’t overwhelming) to provide contrast and color. The go-to color for coastal style is blue, of course. 

In Something’s Gotta Give, Nancy and her set decorator, Beth Rubino, placed floral accent pillows in Erica’s living room, as well as on the pool deck, giving the space a fresh summer feel. In the dining area, the blue and white flower chair covers add a vintage feel. If florals aren’t your thing though, an indigo stripe or a solid blue linen pillow cover might be the perfect fit.

Oxford Light Indigo Blue Organic Cotton Pillow Sham, $59

Blue Organic Laundered Linen Throw Pillow With Insert, $69

Hydrangeas

On the East Coast, the beloved hydrangea is seen all around gardens and in vases throughout the home. In Meyers’ films, she made sure to include these charming flowers. If you’re not lucky enough to have these beauties growing in your garden out back, Hobby Lobby carries a variety of colorful faux flowers! My favorite is the noted blue, but another option is the green hydrangea or the classic white. The best part is you can re-use them each summer.

Hobby Lobby Hydrangea Stem Blue, $20

Hobby Lobby Hydrangea Stem Apple Green, $11

Hobby Lobby Hydrangea Bush White, $20

The Nancy Meyers Kitchen

I love how Nancy Meyers started a trend 15 plus years ago, and it’s still going strong. Who knew she would be the one to create the desired white kitchen look and have women begging their interior designers to give their kitchen the Nancy Meyers makeover? 

Marble countertops are featured throughout her films. If you don’t have any marble within your home, then there are a variety of ways to bring it into your space. In It’s Complicated, a beautiful marble tray is featured in the bathroom holding Jane’s favorite products. Another option is to add a marble canister for toothbrushes, or a marble utensil holder in your kitchen.

Pottery Barn Frost Marble Tray, $39

Target Threshold Utensil Holder, $25

Target Threshold Marble Canister, $15

Finding character pieces from a thrift shop or an antique sale can bring in a classical touch to a space as well. I always think of the way Meyers adds in copper pots or accessories to her kitchens. They’re usually hanging or situated on the stove at the ready. She also adds in various vintage decorative vessels or brass candlestick holders.

Crate And Barrel Emmett Antique Brass Candle Holder Set, $104

The Food Nanny Copper Ladle, $50

Books

Nancy Meyers knows the power of books. The large, white, built-in bookcases she adds to her movie sets or the way she tucks a bookshelf into the kitchen island like on Something’s Gotta Give creates a cozy atmosphere time and time again.

One place I find decorative books is at Goodwill. I choose hardcover books within my color palette, but I also pay attention to the topic, the aesthetic, and the photography. I prefer books on interior design, cooking, and, of course, coastal living. I also love switching out the featured books, depending on the season. All the ones I have out now are full of flowers, light summer meals, and photos that remind me of the coast.

Al Fresco: Inspired Ideas For Outdoor Living, $15

The Brooklyn Home: Modern Havens In The City, $22

Closing Thoughts

We may not all get to live on the East Coast enjoying hydrangeas in the garden or an evening walk on the beach, but these are some simple (and affordable) ways to bring the Nancy Meyers coastal feel to your own space, creating warmth and giving you the ultimate summer escape at home.

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Source: eviemagazine.com