I have a problem. In fact, I think we all have a problem:
We have been way too focused on returns, resulting in the utter destruction of our wealth.
The investment industry has been built using tools that might be appropriate for understanding investments, but are totally worthless for investors. In real life, real people, using real money do not care about returns. We care about our wealth, and the two are not the same. They are not the same!
Risk and investment returns Nowhere is this paradox more evident than the core tenet that risk goes down over time. When talking about investing, everyone says that risk goes down over time. Every investment book, every investment advisor, and for sure any class you took in college, all shout this idea from the rooftops, an idea illustrated in the chart below.
It’s time to back up and understand what this chart is really telling us.
It measures the best and worst periods in terms of annualized returns from 1926 through March 2009 for the S&P 500, with the average return for the entire period in grey.
For example, while that average return for the entire period is 11.28%, you had a one year period that was positive 162% or negative 67%, a three year period that ranged from up 43% per year to down to 42% per year and so on. As you measure longer and longer periods, the best and the worst start to narrow around this long-term average of 11%.
Just to make sure we are clear before we move on:
This is a chart of the range between best and worst annualized rates of return for different periods of time.
It clearly shows that the range of potential outcomes (in % terms) narrows over time.
Somewhere along the line, someone locked in a back room at a university decided that the range of returns (measured in percentages) was a good proxy for risk. Somehow it is was useful to measure risk in terms of how much something goes up and down in percentage terms.
This is where things get sticky.
Risk and the growth of wealth It might be true that “risk” goes down over time, if you define risk this way. If you are an investment, this would be a good way to measure risk. But you are not an investment — you are an investor. Real people do not care about their return. We care about our money. We don’t eat percentage pie. You can’t pay your kids’ tuition with percentages; you pay with dollars. Everyone I have ever met thinks of risk as the possibility that they will run out of money.
So the question is not about the accuracy of this chart, but about the conclusion that we draw from it. When you are a real person, measuring risk in terms of returns is like trying to measure temperature with a ruler. Fine tool — wrong application!
Investors measure risk in terms of dollars; investments measure risk in terms of percentages.
When we measure risk in terms of wealth, risk goes way up over time!
The chart looks like this:
This chart shows what happens to a dollar if we invested during those best and worst time periods from chart one. Depending on the sheer luck of timing, $1 could have ended up growing to $62.52 — or just $9.51 thirty years later. That is a huge range of potential outcomes. If you add in withdrawals, things get even more “risky”.
This should make sense. It’s basic math, compounding over time. When you leave on a trip from Los Angeles to Miami, if you are two inches off course, you most likely would not even notice when you are over Nevada, but without any course correction you will end up in Maine! Maine is not a bad place — unless you planned to be in Florida.
The issue is that most of us are on auto-pilot, thinking that if we just “set the course and forget it” that our risk will go down over time.
That is simply not that case.
So what? I’m still working through all the implications of this, but they at least include the following:
The timing of major financial decisions has huge impact on our success. If you happened to retire with a lump sum at the beginning of one of the best 30-year periods, your experience would be dramatically better than if you retired just before one of the worst. The problem is that we really don’t know which one we are in until after the fact.
Average is not normal. If you set a course based on some version of a long-term average return, then you are likely to end up somewhere else. Most of the time, the surprise destination appears to be good, but sometimes it’s bad. In fact, it’s bad often enough to make me question some of my long-held beliefs.
Making course corrections is at least as important as setting the course!
Rates of return are only one factor in meeting your long-term goals. There are other levers to pull when we need to adjust, other levers that we have much more control over, including retirement date, savings goals, withdrawals, etc.
We really can’t rely on the idea that if you buy and hold, your risk goes down. While that may still be the best approach to investing, in terms of meeting your financial goals, there are a lot of other things that you need to think about as you go forward.
The point of this article is really just to raise awareness. I have been thinking about this for a long time. I have been in the financial-planning industry for over 10 years. I really can’t think of one concept that is more important to understand right now. Here’s a video that summarizes my thoughts on this subject:
I want to leave this open-ended. This is the beginning of a discussion, not the end. However, it’s important to understand that the process of planning for your future remains the same:
Determine where you are today.
Define the destination.
Chart a course to get there.
But now that you know your risk of not getting there is actually growing over time, make sure you take the time to do regular course corrections. Are you on course to meet your goals? Have you made corrections in the past — or do you expect to do so in the future? How do you feel about the relationship between wealth and risk?
The decline in mortgage volume and increasing interest rates mean that mortgage businesses are working to preserve their bottom lines, often by cutting costs. For many, this has meant layoffs and job cuts — in fact, almost every major mortgage lender cut a portion of their staff last year.
As time goes on and uncertainty about the rest of the year remains, more mortgage professionals may find themselves updating their LinkedIn status to “Open to Work” and determining their strategy for the job hunt ahead.
“I think figuring out what works for you is really important,” said Michele Kryczkowski, a senior mortgage professional who was open to work for four to five months. She recently announced her new position as Distributed Retail Division Performance Executive at Cardinal Financial.
Kryczkowski gained attention on LinkedIn during her job search by posting candid videos about her “#opentowork” journey. She spoke to HousingWire about her own job hunt strategy, how to stand out among the crowd on LinkedIn and the best way to avoid burnout.
Making and flexing connections
Kryczkowski said her strategy was all about networking, connecting with people and building relationships.
“I made a conscious decision to put all my time and money and effort into networking with people. My connections did a good job of helping me with other introductions, and I met so many people through my videos as well,” she said.
Budget-friendly meeting options such as coffee, discounted happy hours, appetizers at lunch and even Zoom calls can be a good way to connect.
In terms of who to reach out to, she recommended two groups of people in particular.
The first were salespeople, including vendors you’ve previously worked with, because they have connections and tend to know a lot about what’s going on with other companies.
“Salespeople are a very good resource about knowing where companies are going next — who’s hiring, who’s laying off, who’s staying steady and who might need someone such as yourself,” she said. “They already know you and then they may know this whole network of people.”
She also recommended researching your places of interest on LinkedIn because it will show you who in your network either currently or previously worked there, and you can then reach out to them.
“Get an employee or someone that has that connection to vouch for you — I certainly got an interview that way,” she said. “[It’s about] really trying to dig deep and figure out who you know and can message who can help get you in front.”
Standing out on LinkedIn
As someone whose LinkedIn posts gained traction, Kryczkowski recommended that other people looking for work try video content as a way to stand out.
Video can be an interesting way to market yourself and showcase who you are and what you want out of your future employer. But no matter what you post on LinkedIn, you need to keep it positive and make sure you’re representing yourself well to any prospective employers.
“You have to remember that what you’re posting is public. You’ve got to come across no differently than you would in an interview. Be genuine and stay true to yourself, but as a prospective employer would want to see you,” she said. “If your content is negative, no one’s going to pass you along [as a recommendation]. You need to be someone who they can stand behind.”
Another way to make a difference in your job search via LinkedIn is to do your research and find out who the hiring manager is for the role you’re interested in. Depending on their profile settings, you can message them directly with any questions you have about the role.
“I definitely browsed some jobs and messaged the hiring manager before I even considered applying,” she said. “That, to me, helps you understand if you should even be applying. I don’t want to waste their time applying for a job if it’s not what I want and I’m not what they’re looking for.”
The hiring manager won’t always respond, but it’s worth trying, she said.
“You’ve got to be willing to message people [and] it’s all about your approach. You don’t want to go into somebody’s DMs and be like, ‘I’m really desperate, I want this job,’” she said. “Again, it’s all about how you present yourself.”
Preventing burnout
During the job hunt, it can be challenging to remain positive not only in your LinkedIn content but your everyday attitude. Be sure to take time for yourself during your job search journey.
“It is so important to ground yourself with people that won’t make you feel guilty for taking time for yourself, and having people to remind you that it’s okay to give yourself permission to take a break in a really rough season,” Kryczkowski said. “I think finding things that bring you joy or even trying new things that you maybe didn’t get the opportunity to do when you’re working because you’re crazy busy [can be good].”
For her, it was gardening; for other people she spoke with, it was taking a daily walk.
“Just finding laughter and things that bring you joy in a really stressful time is super important,” she said.
Helping others
Kryczkowski said she sympathizes with people who’ve been laid off for the first time and are struggling. In fact, that’s another reason she wanted to make LinkedIn content — to help lift up others.
“We can’t forget that we hired a bunch of non-mortgage or first-time mortgage people into this industry, and what are we doing to help them now through the tough times when they helped us with the really busy times?” she said. “We have to help people who are going through this for the first time, I think we owe it to them.”
One way to help others who are also on the hunt is to pass along information and referrals when approached about a role that might not be right for you. You can also give past coworkers a LinkedIn recommendation or endorsement on their profile.
Even just a phone call can be helpful, whether you have a job lead for someone on the hunt or not. It’s a good way to show you care.
“I think it’s our responsibility to help each other,” Kryczkowski said. “It’s remarkable to see what people are doing individually to help each other right now. That’s what I love about this industry.”
Do you hate the very thought of budgeting? Does tracking every dollar you spend seem like a waste of time — or, worse, an activity guaranteed to curtail your spending “freedom”? Good news, then…you and I are a lot alike! But one month, after spending over nine hundred dollars on clothes — and not realizing it until I got the credit card bill! — I recognized I needed to rethink my assumptions about budgeting.
Overcoming obstacles to setting up your budget Even after reading a lot of articles and several books on how to create a budget (including some here on Get Rich Slowly), none of them ever really stuck with me. I’d flip through them, thinking that they sounded great, but kept putting them off. Each month I put them off, though, was a month I veered dangerously closer to being financially “upside down”.
I realized that I had two beliefs I needed to get past before setting up a budget:
I felt like a budget would take a ton of time and effort for very little return.
I liked what I considered the “freedom” of being able to spend whatever I wanted, when I wanted to spend it.
The biggest issue I had to face, though, was admitting that I had a spending problem: I was spending every dime I made, and then some — and I couldn’t easily tell you where it all went.
After reading several personal finance books and becoming increasingly frustrated with my lack of spending accountability, I finally gave in, made a budget spreadsheet, and tried it for several months.
Much to my surprise, creating a budget actually gave me more freedom! Instead of having a panic attack when I got my credit card statement, thinking, “How am I going to pay this off?”, I knew where I stood every few days. Instead of forcing myself to pay cash (which is easily stolen, or used and then forgotten), I had an at-a-glance look at exactly what I was spending, and where I was spending it, every month.
But most importantly, I stopped feeling guilty every time I bought something for myself. As you’ll see in the videos that follow, I have a “fun” spending category. As long as I spend less than that amount every month on fun stuff, I don’t obsess over it. In this way, having a budget has been a huge stress relief for me.
Cash vs. credit The final problem I had to overcome was remembering to put everything in my budget. I decided to cure this by simplifying my life. Instead of charging purchases on several different credit cards, I ordered a rewards credit card and charged everything to it.
Not only did it give me cash back for everything I charged, but I was easily able to download the data every few days from my provider’s website. I also got rid of all my store credit cards — the small amount I saved wasn’t worth the extra time and hassle to put the numbers into my budget.
Many financial authors support a cash-only system in order to help get yourself out of debt, since spending cash is more tangible than swiping plastic. However, a budget, updated every few days with data from your card provider’s website, gives you the same knowledge of where your money goes immediately. Plus, a credit card offers consumer protections, down-to-the-penny accuracy, and rewards points!
J.D.’s advice: Do what works for you. If you have problems using credit cards responsibly, it’s best to stick with a cash-only system. Use your debit card and track expenses that way. If you know that credit won’t cause you problems, consider making most or all of your purchases with a single card.
The 10-minute budget If you’re a visual person like me, you’re going to love this. Instead of a typical text-heavy, boring budget post, I’ve boiled down the entire task of creating a budget into two videos I call the “10-Minute Budget.”
The first video is a six-minute introduction. It describes some financial mistakes I made, and how those mistakes pushed me to make a budget. (Watch to find out how I spent over $900 on clothes in one month, and how much money I saved later on!)
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The second video is the actual 10-minute budget. Please take a few minutes now to download the budget spreadsheet, watch the videos, and follow along.
Stop Being a “Budget Slacker”! Don’t make the same mistake I did and get that sinking feeling when opening up your credit card statement. Knowing where every penny goes, and being able to quickly see which expenses to eliminate should your income decline, is well worth the time investment. Creating a budget enables you to never again say “Where did it all go?” and feel the frustration of spending more than you earn. If you have 10 minutes, try this out!
If you already have a budget, please watch, too, and leave your comments on how to improve it. Or share what you do to help track your expenses…to help us “budget slackers.”
For more information on budgeting, check out the Get Rich Slowly guide to building a better budget.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
People love saving challenges to earn. So, we are going to layout some of the ways you can do the 200 envelope challenge.
In case you have not heard, the 100 day envelope challenge originating from TikTok has taken off!
Let’s be honest… you need to make saving fun! Saving just to save money can get boring after awhile.
Here at Money Bliss, we have plenty of money saving challenges to help you find the perfect one for you.
Today, we are going to bring you a spin of a super popular envelope challenge.
Have you seen the popularity of this money saving challenge take off on TikTok? If not, then you are missing out.
This saving hack has been going viral and does not seem to be going away anytime soon. In fact, more and more variations of the original challenge have sprouted.
In this post, we will break everything you need to know about the 200 day envelope challenge.
What is the 200 Envelope Challenge?
The premise of the 200 envelope saving challenge is a very simple hack to start saving money.
For many people attempting the 100 day challenge, they learned that saving envelopes from 51-100 were more difficult as the dollar amount was harder.
So, here is the 200 envelope challenge spin.
You start off with 200 envelopes. You will label each envelope with the numbers 1 through 50. Repeat this process 4 times.
As such, you will have four envelopes with the same number on them.
Then place all of the envelopes in a special place like a container box, basket, file folder, or bag.
Each day, you will choose a new envelope, and you must put that amount of money in the envelope.
For example, if you draw the number 12, then you would put $12 into that envelope and seal it. Then the next day, if you draw the number 35, you would put $35 into that envelope and seal it. Then, continue this challenge for over 200 days.
And the best part is by the end of the 200 envelope challenge, you have saved $5,100.
Now, after 200 days, I would call saving $5,100 a huge win when saving only $1-$50 per day.
200 Envelope Challenge Chart
How much money do you save with the 200 envelope saving challenge?
You need to the numbers behind everything so you truly understand how the 200 day money challenge is set up.
Let’s break down how the math works with this 200 envelope challenge chart.
At the end of the 200 day money challenge, you will save $5,10!!
Here is the math if you randomly pick an envelope each day:
Most saved in one week: $200
Least saved in one week: $4
Even if you do not finish the entire 200 days and quit on day 100, you will save at least $2500. More than likely, it will be a higher amount (unless you are great at just picking numbers under $20).
This challenge is great for somebody who gets paid with cash on a consistent basis, like servers, bartenders, drivers, caddies, etc – any tipped employee.
Advantages of the 200 Day Money Challenge
This is the #1 benefit of the 200 envelope challenge over the 100 day envelope challenge…
It is much easier to save under $50 a day than having to save $51-$100 a day.
You can simply cut out spending purchases to hit your goal.
That is easy.
Plus with the fun saving challenge you walk away with over $5000 saved in less 29 weeks! In just over half of the year, you can save $5k.
If someone said, you would save over $5k in less than 7 months, verall, would you accept the challenge?
That should be a resounding… YES!!
Supplies Needed for the 200 Day Envelope Money Saving Challenge
The supplies needed for the 200 Day Challenge are not complicated and you should have most of them around your house.
Supplies Needed:
Envelopes – Plain old white envelopes work, but colored envelopes makes everything more fun.
Sharpie or Marker Pens – You need something to write with in order to keep track of those envelopes.
Cash – You need to figure out where you have the extra cash to stuff those envelopes. You may need to run to the bank quite a few times.
Stickers or Rubber Stamps – To make sure you don’t cheat and reopen a finished envelope.
Box or Container – Just make sure you have enough space for your envelopes!
Related Read: Best Cash Envelopes – Pick Your Favorite
Don’t want to make your own? Then, pick up these handmade envelopes from Desire Your Curves. Check out these 200 mini envelopes!
Also, it is super helpful to have a free printable 200 day challenge to keep you accountable! Don’t worry… we have you covered!
At the bottom of the post, you have the opportunity to download a free 200 envelope challenge PDF.
Printable 200 envelope challenge PDF
The 200 Envelope Challenge is a printable tracker chart that you can download and print.
Think of one friend you want to do this challenge with and share this post
The idea of saving over $5000 in less than 7 months is reason to participate in this challenge!
Tracking your progress is very important with any money saving challenge. Plus it is a powerful motivator.
Check Out: Free Printable 100 Envelope Challenge
200 Envelope Challenge App – Do It Digital
As of right now, there is no envelope challenge app developed to make this cashless. However, you can do this challenge digitally and we will show you how to do it virtually.
In case you utilize a cashless envelope system, you may be wanting to do this challenge, but are not sure of the best way to do it.
Here is how to do the 200 day challenge digitally:
Instead of using 200 envelopes, you could write on 200 pieces of paper, fold them up, and put them into a bag or box.
Every day you would draw out a new number (just like the normal challenge).
Make sure you have separate savings account for the challenge.
Instead of placing cash into the envelopes, you will move money from your checking account to that separate savings account.
For example, on the first day, you pull out the number 8. Well, that means you would move $8 from your checking account into your newly open 200 envelope challenge savings account.
You are taking money from your normal spending and moving it away and into a savings account.
That way you are setting aside money, virtually into a different account.
200 Envelope Challenge Variations
Not everyone can complete the 200 envelope saving challenge as we discussed in this post.
Here are some alternatives to make the envelope challenge work for you:
Pull an envelope weekly instead of daily.
Save $25 for every envelope.
Pull 3-4 envelopes a week.
Save the amount of the envelope $1-200 and save over $20K!
There are many ways you can spin the 200 envelope challenge to work for you!
At the end of the day, the goal is just to save more money.
Many people prefer one of these challenges instead:
Ready for the 200 day Envelope Challenge?
All in all, this is the one great thing that social media can offer.
It brought around the envelope challenge as a new spin for you new hack for you to start saving money.
The 200 day envelope challenge is a fun way to kickstart your money saving journey.
The 200 day money envelope challenge is perfect for everyone to complete!
If you are looking for something different, check out one of these…
If you like the idea of this challenge here are some other money saving challenge ideas that you may enjoy more:
One of the best ways to improve your personal finance situation is to increase your income. Here are a variety of side hustles that are very lucrative. With time and effort, you can start enjoying the lifestyle you want.
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Some shows we watch for their excellence, some we enjoy for the action or the romance, and some are old favorites that we could watch again and again, no matter what. Whether it’s the usual day off from work, taking breaks from cooking, or wanting to be entertained any day, your go-to comfort show can keep you company. Here are 15 TV shows people have found comfort in and will never get tired of watching!
1. Malcolm in the Middle
Malcolm in the Middle is an American sitcom that first aired on January 9, 2000, with the final episode on May 14, 2006. The show has a total of 151 episodes from its seven seasons.
One person said, “One of the greatest gags in sitcom history because everything about the dialog, timing, and presentation was so perfect.”
Another person replied, “I love that my 13-year-old son and I can put on any episode at any time and sit and watch together and laugh together.”
One commenter added, “My absolute favorite comfort show! I’ve watched it through like 7-8 times already.”
2. The IT Crowd
The IT Crowd is another comfort show that will keep you laughing so hard your stomach hurts. It is a British sitcom that originally aired from 2006 to 2013. Created by Graham Linehan, the show follows the misadventures of the IT department of Reynholm Industries, a fictional British corporation.
One person stated, “Same! I can’t tell you how many times I’ve watched. I also recommended this show last week!”
Another Redditor agreed, “Yesssss.”
One user added, “That show is hilarious! My husband’s favorite!”
3. What We Do in the Shadows
What We Do in the Shadows, also known as WWDITS is an American horror mockumentary that first premiered on March 27, 2019. It’s another TV show that will keep its audience entertained.
“What We Do in the Shadows. Your ordinary human bartender never fails to deliver a good mood,” one person shared.
“I love WWDITS, but I wonder if the amount of murder that happens on the show and it still qualifying as a comfort show for us says a lot about our minds,” another added.
4. The Great British Bake Off
If you’re not into baking, no worries, because you can still enjoy the show. However, it will make your day even more beautiful if you’re into it. The Great British Bake Off is a British television baking competition that has been airing since 2010. The show, which is known as “The Great British Baking Show” in the United States, features amateur bakers from around the UK who compete in a series of challenges to be crowned the best baker.
One person said, “This is my Christmas break show, I’m not even sure why, but it makes the Christmas season even cozier.”
Another person replied, “I rewatched each season when I had Covid. I was too tired to decide what to watch next so I watched a whole season each day. It was the best show to watch during that time. It will always be my number 1 comfy show, too!”
5. Forensic Files
One person stated, “Good one. Only thing about the show that turns me off is how it recaps a few times per episode. But other than that it’s gold.”
Another commented, “It’s my ‘go to’ show any time I have hard time falling asleep. Idk what it is, but once I have it on, I’m out. I think it’s the narrator.”
Another commenter added, “I used to binge this for years when going to sleep or when not feeling well. Great narration from Peter Thomas.”
6. Arrested Development
Arrested Development is another American sitcom that you should watch if you haven’t yet. The show is a critically acclaimed American sitcom that originally aired from 2003 to 2006 on Fox, and was later revived for a fourth and fifth season by Netflix. The show, created by Mitchell Hurwitz, follows the dysfunctional Bluth family, who live in Orange County, California.
“I do all the chicken impressions to make my 1 y/o laugh. Holds up,” one commenter said.
“I keep sleeping on this show. I gotta watch it,” another person replied.
7. Chuck
One person stated, “Chuck. Perfect combo of nerd-comedy and procedural Spy show.” The second person agreed, “Yeah, I think that it was a good show.” Finally, the third added, “I watched this show from the premiere every single week. It has been my favorite show ever since. If I had something going on that evening, my Dad was sure to DVR it for me and I watched it as soon as I got home. Perfect all the way through.”
8. The Good Place
The Good Place is a critically acclaimed American comedy series that aired from 2016 to 2020. Created by Michael Schur, the show follows the afterlife adventures of Eleanor Shellstrop (Kristen Bell), a woman who discovers that she has been mistakenly sent to “The Good Place” after her death, despite having lived a less-than-moral life on Earth.
One person stated, “Sometimes you just gotta huck a Molotov cocktail at a drone and see what happens.”
Another Redditor replied, “Came here to post this! Such an amazing show.”
One user added, “I just rewatched it again and cried so hard the last episode like I always do.”
9. Parks and Recreation
Parks and Recreation is an American sitcom that aired from 2009 to 2015.
“Parks and Rec. I love all of those characters so much and love how it ends with all of them succeeding,” one person stated.
“I love this show so much I refuse to watch the last season so it will never end!” the second person replied.
10. It’s Always Sunny in Philadelphia
Created by Rob McElhenney, this American sitcom follows the misadventures of a group of friends who own and operate a bar in Philadelphia, Pennsylvania.
“Great pick, for anyone who likes the show and has not watched any of the bloopers I implore you to,” one person stated.
“It’s toooo good,” another person replied.
11. Taskmaster
“Love love love taskmaster. Missed the new years episode so must watch it back on 4od. My kids love watching the bleeped versions,” one person shared.
“Something about Joe Wilkinson on all fours pleading will just never not be funny,” one commenter added.
“The season where they had Noel Fielding was phenomenal. Even more surprising that Mel had the weirder take on tasks!” a third commenter replied.
12. King of the Hill
King of the Hill is an American animated sitcom from 1997 to 2010. Created by Mike Judge and Greg Daniels, the show follows the life of propane salesman Hank Hill (voiced by Mike Judge) and his family and friends in the fictional town of Arlen, Texas.
“I’m watching this as I type,” one person shared.
13. Brooklyn Nine-Nine
Brooklyn Nine-Nine is an American sitcom that aired from 2013 to 2021. Created by Dan Goor and Michael Schur, the show revolves around the detectives of the fictional 99th precinct of the NYPD in Brooklyn, New York.
One person stated, “Same here. This is my go to when I’m between shows but need to veg out for 20 minutes. My wife and I also watch all the Christmas episodes around the holidays.”
Another commenter replied, “Same! It’s so silly and I always feel great after watching it.”
14. Buffy the Vampire Slayer
Buffy the Vampire Slayer is an American supernatural television series that aired from 1997 to 2003. Created by Joss Whedon, the show follows the life of Buffy Summers (Sarah Michelle Gellar), a teenage girl who is chosen by fate to become the Slayer, a powerful warrior tasked with fighting against supernatural evil.
“Buffy for sure. The last few seasons where it got heavy,” one person said.
“Buffy is my favorite show but I could never watch it for comfort. I get too emotional when I watch it sometimes. It hits home a little too much,” the second person replied.
15. Bob’s Burgers
One person stated, “Bob’s Burgers was a way me and my wife connected during an extremely difficult financial time early in our marriage. Over the years it’s remained one of our favorite date night activites to watch the new episodes together. We cherish that show.”
Another user replied, “This show has helped my son through intense anxiety and panic. It has become our comfort show as a family. I love the Belchers.”
Another commenter added, “Same! So wholesome and hilarious.”
Source: Reddit.
Who is one actress you can never stand watching, no matter their role? After polling the internet, these were the top-voted actresses that people couldn’t stand watching.
10 Actresses People Despise Watching Regardless of Their Role
These 7 Celebrities are Genuinely Good People
We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble?
These 7 Celebrities are Genuinely Good People
Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.
These 10 Activities Are an Immediate Red Flag
Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.
10 Celebrities That Made the Big Times Then Disappeared Off The Face of the Earth
We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.
These 10 Terrible Movies Are Still People’s Favorites
Living off of minimum wage in this country is extremely burdensome: mentally, physically, and financially. As one Redditor puts it:
A nice dinner out with your significant other might seem like nothing to people who make more money than I do, but that is something I have to plan for. I have to pick up shifts at work and skip a meal or two in order to take someone out and feel “normal” for a few hours. But I get up and I do it every day because I have to.
However, with a little strategy applied, there are ways to alleviate your stress in the short term, multiply your earnings, and save for the long term.
Here are seven ways to improve your life and lifestyle while living on minimum wage.
What’s Ahead:
Create a budget
While I researched this piece, my friend Steph described a moment in the life of a minimum wage earner:
I used to love Campbell’s brand soup as a kid. Aldi stocks it right next to the generic brand soup, which is $0.40 cheaper. So I stood there for a good five minutes debating whether I could truly afford the name brand soup that I wanted. But eventually, I left the Campbell’s on the shelf.
Steph’s problem, as she put it, is that she doesn’t have a budget so she never knows how much she can really spend without feeling guilty.
It’s almost ironic that creating a budget can feel both scary and tedious at the same time. But having a budget on any wage is so critical because it provides two primary benefits:
First, budgeting ensures that you don’t overspend and end up with net zero or negative earnings at the end of the month, which can jeopardize your long-term goals of financial independence.
Second, when you create a budget, you’ll learn down to the dollar how much you can spend on nonessentials each month.
As someone who’s briefly lived on minimum wage (and no wage), I can assert that it’s really hard to live life when every non-essential purchase, like Campbell’s soup or a movie rental, is laced with guilt and fear of the unknown.
Part of designing a budget is determining how much you’ll allow yourself to spend on fun and happy things without feeling guilty. Even if it’s only $40 per month on nonessentials, that’s $40 you can spend guilt-free, which is so critical to supporting your mental health.
As for which budget to follow, consider the 50-30-20 budget:
50% of your income goes to essentials (bills, food, rent, utilities, etc.).
30%of your income goes to discretionary spending (entertainment, social life, etc.).
20%of your income goes to savings (investments, 401k, etc.).
Now, you might be thinking that well over 50% of your income is already going to your essentials. To be sure, you can use MU30’s 50-30-20 Budget Calculator to confirm your suspicions. If things are tight, consider shaving 10% off of the latter two categories so your budget plan becomes 70-20-10.
Once you’ve established a budget, it’s time to start storing your money in the right places.
Open some checking, savings, and retirement accounts
There are many American households that are either unbanked or underbanked, meaning they either have no bank accounts or they have an account, but rely upon outside/unscrupulous financial institutions like payday lenders to make ends meet.
Payday lenders are extremely dangerous places to do business and should be avoided, but more on that later.
The research found that the #1 reason why these households avoid banks is that they feel that they don’t have enough money. The #2 reason is that they simply don’t trust banks.
If you hold these beliefs, I get it. Banks do sketchy things, and overdraft fees are a pain. But the benefits of opening accounts with the right bank far outweigh the potential cons.
A checking account is critical for safely storing and accessing your money on a daily basis. It also enables you to make purchases with a credit card, which can help build positive credit. Lastly, having at least a checking account will enable you to set up direct deposit with work, which we’ll talk about below.
A savings account is a rainy day fund that accumulates a little interest (around 1.0% these days, compounded annually). If you have money that you won’t need immediately but may need before retirement, a savings account is a good place to keep it.
For a great starter mobile financial app, consider Chime®. They offer checking and savings accounts, and I don’t hesitate to recommend them to someone making minimum wage because they help you build credit and charge zero fees (their whole mission is to make money off of banks, not customers)2. Plus, they make it super easy to get started.
Finally, I strongly recommend setting up a retirement account. Even if you can only contribute a few bucks a month (or a year), that money will still multiply by a factor of 10-15 by the time you retire, so it’s much better than not having any retirement savings at all. Plus, in my experience, just knowing that I was saving something for retirement was a stress-reliever.
To open a retirement account and put a few bucks in, I recommend Betterment. It’s a “robo-advisor,” meaning it’s an AI that never sleeps, optimizing your investments 24/7. You can open an account with a $10 required minimum deposit to start investing, and Betterment charges an annual fee of just 0.25% of your account balance (so no “minimum balance” nonsense here).
2 There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
Set up direct deposit and automated bill pay
I mentioned direct deposit earlier as a benefit of a checking account. Why is that important?
Direct deposit is where you give your employer your account info so instead of writing a check, they can just directly deposit your pay into your bank account. Direct deposit is awesome because it means no more lost checks and you can get your money two-five days faster, and anyone living paycheck-to-paycheck knows that getting cash faster can make a huge difference at the end of the month.
Next, a checking account will also enable you to set up automatic bill pay. Most banks will have online dashboards where you can input recipients like AT&T and your landlord and set up automatic payments to them each month.
Now, AT&T and your leasing company might offer to automatically withdraw from your account when your bills are due, but I wouldn’t recommend this for two reasons. Let’s say you give your account and routing numbers to AT&T so they can automatically withdraw $50 each month. Regardless of how much money is in your account, AT&T will always try to withdraw $50, which could leave you without food/rent money or worse, overdrafted. Next, AT&T might simply make a clerical mistake and withdraw $500, and it can take a lot of red tape to get it back.
So instead, keep control of your automatic payments yourself so you can always quickly turn off the taps if you need to save money.
Avoid bad debt and build good credit
Never try payday loans
If you’ve ever considered taking out a loan from a payday lender, just don’t. Beg, borrow (but don’t steal) from friends and family before you walk into one of those places, because statistically, most people who take payday loans end up owing magnitudes more than they borrowed.
If you’re short on cash and friends and family couldn’t come through, you can also try Earnin. Earnin is a community-sourced app that lets you withdraw up to $100 per day from your next paycheck amount in advance. Most crucially, they don’t charge fees or interest.
Build good credit simply by getting your credit report
Next, you’ll want to start building some good credit. Your credit score is an indicator not of your wealth, but how likely you are to pay back a loan in time. Building good credit is essential because having good credit lowers your interest rates on future loans. Improving your credit score by just 100 in your 20s can help you save thousands on your car payment, or even a mortgage.
To start, you can check your credit score for free, with no strings attached, at Credit Karma. Also, you’ve probably read in the news about unscrupulous tax filing companies that dupe Americans into paying to file their taxes when it should be free. Well, Credit Karma Tax doesn’t mess around and lets you file your taxes easily, 100% free. Put a note on your calendar to head to Credit Karma Tax next April.
Build your credit by using a credit card responsibly
Aside from paying bills and loans on time, a great way to build good credit is to put your bills and expenses on a credit card. Yes, having a credit card with a big line of credit is a slippery slope for anyone regardless of income, but as long as you stick to your 50-30-20 budget and set up autopay, you’ll be fine.
Having a credit card while you’re living on minimum wage is a good idea because it can generate cash back on your existing daily expenses. I’m a massive fan of my Chase Freedom Unlimited® for this reason; it offers cash back in every category imaginable. You’ll start by earning 5% cash back on travel booked through Chase Ultimate Rewards®, 3% on dining and drugstores, and finally, 1.5% cash back on all other purchases. So there’s a little something for every category I spend in.
Plus, you can earn an additional 1.5% on all purchases (up to $20,000 spent in the first year).
Get some government benefits
If you’re struggling to make ends meet, you may qualify for some government support. The federal and state governments offer programs that provide food, utilities, healthcare, child care, insurance, phones, and more.
To see which benefits you might qualify for, visit benefits.gov.
You may also qualify to receive some help from a local non-profit group. For example, I recently did some work with Helping Mamas in Atlanta, Georgia, who supplies food, diapers, and other critical supplies to low-income mothers in need.
Do a little research and see what non-governmental resources might be available to you locally. You can also use Reddit and Facebook to connect with other minimum wage earners in your area to learn more about where others are seeking support.
Take classes, freelance, and increase your earnings
Did you know that some states offer community college for free, and most will offer scholarships to students with financial needs?
It may seem like an exhausting prospect to take classes on top of a 60-hour workweek, but learning an in-demand skill or trade at community college is the fastest way to transform your earnings into a liveable wage. According to CNN Money, graduates of a vocational program that took less than six months to complete earned an average salary of around $38,000 after graduation. If you get a two-year associate degree in STEM, you can earn twice that.
If you’re looking for a trickle of extra cash in the short term, ask yourself: is there one skill or favor that my friends keep asking me to do? Maybe it’s video editing, photography, public speaking, writing, moving, handiwork, etc. If so, start charging! Use sites like Facebook Marketplace, Nextdoor, and Upwork to list your services and start your fees above the minimums you see so people place value on your work.
Finally, if you’re already spending a lot of time gaming on your smartphone or surfing the web, you might consider earning a little extra cash on Swagbucks. Swagbucks is a safe, secure place where you can watch videos, take surveys, even play games in exchange for gift cards. It all equates to around $2 per hour so it’s less of an income stream than a trickle, but a little time on Swagbucks per day could cover a grocery bill or two.
Set some financial goals
Once you’ve taken the above steps to regain your financial footing and recoup some mental health, let’s set some financial goals.
There are plenty of “ducks in a row” apps out there that will help you organize your finances, stick to a budget, and set a reasonable goal (i.e. save for a down payment on a house) that you can track over time. However, my personal favorite and the one I recommend for minimum wage earners is PocketSmith.
PocketSmith is like a virtual financial assistant. In addition to helping you organize a crystal clear picture of your earnings and financial outlook, its most notable feature is financial forecasting. You can tell PocketSmith that you’re considering a big purchase like a new bike or a down payment on a car and it’ll actually show you how such a decision will impact your finances and savings goals.
Best of all, it offers these services, including forecasting, for free in its Basic Plan.
Summary
Living off of minimum wage is mentally and physically draining, but with some strategy, you can alleviate the stress in the short term and achieve financial independence sooner than you think.
For more on how to cut expenses and increase your earnings while on minimum wage, check out MU30’s article: How To Save And Invest When You Make Minimum Wage.
If you don’t like spending more than 24 hours in Las Vegas, can you enjoy a cruise on a ship that’s clearly inspired by that neon-lit oasis of excess? The answer, surprisingly, is yes.
When I stepped aboard MSC Euribia, the newest ship in Europe-based MSC Cruises’ fleet and the fifth vessel in its Meraviglia class, I knew that megaships weren’t exactly my comfort zone. And this ship, which accommodates 4,838 guests (6,327 at full capacity), is definitely mega.
Would I be able to see beyond the crowded elevators, the endless barrage of clinking glasses and loud laughter, the flash of a gazillion LED lights and, ultimately, the sheer mass-market-ness of it all? I had my doubts as I boarded the ship for a short three-day cruise from Amsterdam to Copenhagen that culminated with the ship’s christening by godmother Sophia Loren.
For more cruise news, reviews and tips, sign up for TPG’s cruise newsletter.
But as I got to know Euribia, I realized that overstimulation can be kind of fun if you’re willing to lose yourself in the spectacle — all 184,000 gross tons of it.
That said, there were definitely things I liked, even loved, about this vibrant 19-deck siren named for Eurybia, the ancient Greek goddess who harnessed the natural elements to master the sea. There were also things I didn’t like, though they weren’t enough to make me lump this ship, the most eco-friendly in the MSC fleet, in the reject pile with my least-favorite U.S. city.
What I liked
Carousel Lounge
During my first night on board, I followed the after-dinner crowds to the Carousel Lounge, a Deck 7 aft performance venue on all Meraviglia-class ships that has been beautifully reinvented on Euribia. When the space debuted in 2017 on Meraviglia, it was designed in the round with overhead rigging for Cirque du Soleil performances. Now freed from the constraints of circus-like acrobatics, the reimagined, opened-up Carousel is classy, sophisticated and social.
The new vibe is mainly due to Big Band at Sea, a superb 19-piece orchestra with a pair of dynamic vocalists whose repertoire includes crooner-era classics, hit Broadway tunes and modern chart-toppers. They perform three sets each evening and draw an appreciative, if somewhat mature, audience.
Yes, there’s a dance floor, but there are also a large bar and cozy groupings of sofas set around a glowing fireplace. A red-felt pool table is popular with younger guests.
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By day, with shades and screens lifted and the space’s floor-to-ceiling windows revealed, the Carousel Lounge is a comfortable place to read or converse. Outdoor terraces on both the port and starboard sides also offer a quiet spot to enjoy fresh air and sunshine.
The 5 pools
One thing I do appreciate about big ships is the options they offer, including multiple pools. Euribia has five of them, four outdoors and one indoors (with a retractable roof).
The pools are strategically placed around the ship, although two are adjacent on Deck 15. The spacious resort-style Main Pool is lined with cushioned sun beds and features two crescent-shaped hot tubs. The indoor Bamboo Pool offers a much smaller pool and hot tub. While ideal for cruising in chillier northern climates, the latter can get noisy when the roof is closed.
Two pools are located aft. The infinity-edge Horizon Pool on Deck 16 has an amphitheater-style design with multiple levels of sun beds. It also has a bar and transforms into a nighttime entertainment space.
Related: The 6 best cruise ship waterslides and watery fun zones
The kid-friendly, reef-themed Ocean Cay Aquapark features vibrant waterslides and a splash pool. It’s located on Deck 19, and if you’re cruising without kids, you might not even realize it’s there.
The fifth pool isn’t open to everyone. It’s located forward on Deck 19 within the Yacht Club, the cruise line’s elevated “ship within a ship” enclave of 103 staterooms and suites featuring exclusive spaces and amenities. I wasn’t booked into the Yacht Club, but I did tour its pool deck. I could see myself spending a sea day there, sipping an Aperol spritz and nibbling on snacks served from the nearby grill.
Helios: Wine Maker
Wine and technology prove to be a perfect pairing in Helios: Wine Maker. This new bar concept on Euribia takes a not-so-novel concept — machine-dispensed wine, 96 options, in fact, in small, medium and large pours — and adds a cool interactive twist.
During any of four sommelier-led master classes, which are each priced at 35 euros ($38) per person, guests are seated around a first-of-its-kind touchscreen table that helps guide them through a sampling of four wines with details on tasting notes and the winemaker’s story. Pay attention: There’s a pop quiz at the end.
Master class topics include New World versus Old World wines; biodynamic and organic wines; and a revelatory wine and glass pairing with wine glass company Riedel that I enjoyed my first evening on board. But even without a sommelier-led tasting, guests can easily consult touchscreens for more information about the wines they’ve selected.
Yes, self-dispensing wine bars can be impersonal. What worked for me here was that it made tasting a variety of wines easy and informative. I could read all about a wine before I tried it or, in the case of the master class I attended, discover interesting facts and tasting notes as I sipped. (Yes, that minerality I detected was legit.) The sommelier was there to lead me through layers of information on the touchscreen beneath my wine glasses, making a high-tech process delightfully engaging, as wine tasting should be.
The Galleria
When I first encountered The Galleria, I had flashbacks of being swept up in a crowd of ceiling-gawking tourists in The Forum Shops at Caesars Palace. This gargantuan, two-level promenade on decks 6 and 7 features faux-marble balconies and the longest LED “sky dome” on a cruise ship, which arches overhead like a time-warp hybrid of the Sistine Chapel and a Times Square billboard.
The entire space, which pulses with eye-popping graphics, is home to all specialty restaurants, plus several bars and a whopping 13,756 square feet of shopping opportunities.
Related: The ultimate guide to MSC Cruises ships and itineraries
To my surprise, my initial dislike that first evening quickly turned to fascination as I marveled at The Galleria’s bold, chameleon-like quality. What might have been just a two-level shopping mall at sea was transformed into a captivating work of art. Maybe it was all the wine I’d sipped, but the massive LED mosaic overhead was hypnotic … and helped orient me toward specialty dining venues, bars and, most importantly, the right elevator bank to reach my stateroom.
The irony isn’t lost on me that I’m giving the most Vegas-like thing on board Euribia an enthusiastic thumbs up.
The eco-conscious message of the hull artwork
A painted hull isn’t exactly novel. Norwegian Cruise Line has been doing it since 2002. But the artwork that adorns Euribia — MSC’s second ship powered by liquified natural gas, its most energy-efficient vessel and the first to sail a net-zero carbon-emission maiden voyage using bio-LNG fuel — has an important message: #savethesea.
Before boarding Euribia, every guest will spot this hashtag painted in vivid turquoise on both the port and starboard sides and surrounded by stenciled blue sea creatures. The hull artwork, a first for the cruise line, was created by German artist Alex Flämig and chosen by MSC to represent twin goals: to have MSC’s entire fleet generate net-zero greenhouse gas emissions by 2050 and to protect coral and other endangered sea life via its MSC Foundation.
Euribia isn’t close to net zero yet, mainly because bio-LNG fuel isn’t widely available, but this massive ship is already 44% more efficient than MSC vessels built just 10 years ago. This statistic and other eco-minded onboard practices helped me put a check in the “like” column.
What I didn’t like
The stateroom decor and amenities
I felt hopeful as I swiped my keycard and opened the chic wood-like door, but when I saw my 189-square-foot stateroom, I was shocked — and not in a good way. The carpet, bulky sofa and oversized headboard were all dark brown, while the walls and furniture were beige. The patterned curtains and throw pillows were, you guessed it, brown and beige.
If brown is the new gray, I say no thank you. At least gray can lift and lighten a small space, while brown, especially the espresso-like shade used here (for practicality, I assume), is heavy and somber.
Then there was the artwork: an eel rendered in white dots against a brown ocean and a swirling orange sky. Where were the inspiring #savethesea blues of the hull? A few splashes of turquoise would surely have helped save this stateroom.
More importantly, where were the tissues and body lotion? I discovered that MSC supplies neither. The bathroom itself was a cramped, get-in-and-out-quickly kind of space, but thankfully, there was plenty of hot water eco-consciously generated by heat recovered from the engines.
Related: I got what I paid for: My cheap family cruise on MSC Seashore
That night, I also discovered that the bed with its fluffy duvet and two pillow options was quite comfortable. I slept well — and with the lights off, the monochromatic brown didn’t bother me as much.
The lack of Italian food on board
On day two around 4 p.m., I began craving gelato. Bring on the Venchi! But Euribia, along with its Meraviglia-class siblings, features the French-inspired Jean-Philippe Maury Chocolat & Café and Jean-Philippe Crepes & Gelato instead of Venchi, the Italian brand offered on MSC’s Seaside-class ships.
For those not in the know, Venchi has been making fine Italian chocolates since 1878, plus various kinds of gelato in traditional Italian flavors since 2007. The latter, in particular, is quite delicious.
My sweet tooth was begging, so I ordered two scoops of Jean-Philippe Maury’s gelato: one scoop of pistachio and another of chocolate. Both were tasty, but something was slightly off. What was missing, I decided, was Venchi’s transportive Italian authenticity.
This sentiment mimicked my overall feeling about the food on Euribia. Despite having a few delicious bites, the cuisine somehow fell short of expectations.
MSC has steadily improved its culinary offerings over the past several years, and most of what I ate — especially the mozzarella made fresh daily in the Marketplace buffet, as well as the tender gnocchi and slice of well-made margherita pizza I had during my cruise — was satisfying. The standout, however, was a white asparagus appetizer with a tangy Italian blood orange sauce served at the Gala Dinner in the Aurora Borealis main dining room.
As for the extra-charge specialty restaurants, the sample bites I tried in Hola! Tacos & Cantina didn’t inspire me to head back for a full meal. The tuna and salmon rolls and robatayaki-style grilled eggplant served family style at Kaito Teppanyaki & Sushi Bar were OK but not outstanding. (I didn’t get a chance to try Le Grill, the French brasserie-inspired steakhouse that has replaced Butcher’s Cut on Euribia.)
Ultimately, nothing besides that small portion of tender white asparagus (which I would gladly have eaten multiple servings of) was truly memorable. I have sailed with MSC several times and know it’s a mainstream line that fills its massive ships by offering enticingly low cruise fares, but I always find myself hoping the dining will be better given the company’s Italian ownership.
As it turns out, food inspired by that heritage is what MSC does best.
Bottom line
MSC Euribia, which will cruise northern Europe through late 2024, is designed for affordable family fun, as it offers plenty to keep kids and teens occupied. There are complimentary kids clubs, a Sportsplex for court games and an arcade area for virtual reality fun.
That said, those traveling sans kids will not find themselves out of place. Couples will enjoy the ship’s sophisticated spaces and nightly entertainment.
Regardless of who you’re traveling with, you can expect an international (mostly European) passenger mix, announcements made in six languages and service that’s slower than you’re used to.
Give the ship a chance. After a few days, you might, like me, find yourself forgiving Euribia’s superficial flaws and embracing the ship’s megaship eco-warrior personality.
In its July 2009 issue, Consumer Reports Money Adviser published a brief overview of the best online banking options according to their research. “Online banking, despite a rocky start, is becoming the rule rather than the exception,” the article says, noting that online banking can net savers better interest rates and increased security.
I’d love to be able to point you to an online version of this article, but none exists. And I’m not about to reproduce large chunks of the text here. (Consumer Reports doesn’t like that.) But I can highlight their main points about online banking, as well as list the results of my own research into online banks.
Some of the article’s main points:
Traditional banks that have moved into online banking (such as Bank of America and Wells Fargo) generally offer lower rates and impose higher fees than established online banks like Capital One 360 and bank safety ratings.
The biggest thing that holds people back from online banking is concern over security. Via Twitter yesterday, @thenonconsumer told me, “My husband is very skeptical about using an online bank like ING Direct (now Capital One 360) for savings.” He’s not alone. But according to Consumer Reports Money Adviser, online banking can be safer than traditional methods because there’s less of a paper trail, and your transactions are digitally encrypted.
Here’s a table of current interest rates, updated weekly. Below that is a list of online banking options I originally compiled in four hours of research but these have become out of date and I unfortunately don’t have the ability to update them regularly, so the table will let you see some of the most current rates. You can also see a full list of over 200 banks’ savings rates and an almost-as-long list of certificate of deposit returns by following the links.
I haven’t tried to be comprehensive here (a comprehensive list would be huge), but have based my research on my own interests and the requests of my Twitter followers. I’ve made no attempt to rank these banks. They are listed in alphabetical order. Rates are annual percentage yields (APY). All accounts are FDIC insured.
Online Savings
12-month CD
Money market
Bill-pay
1.45%
1.05%
0.85%
—
Notes: No fees, no minimums. Money-market account appears to act as a checking account and has no ATM fee. Ally Bank is the renamed GMAC Bank. Rates as of December 11, 2016.
Savings
12-month CD
Checking
Bill-pay
0.75%
1.25%
0.75%
Free
Notes: No fees. There is a $500 minimum balance for certificate of deposit accounts. You can open the 360 Checking account with no minimum balance, there are no monthly service fees and the APY is for balances from $50,000 up to $100,000. Capital One does not charge for ATM withdrawals or balance inquiries, but the owner of the ATM may. Rates collected within: 10025 (NY). Rates as of December 11, 2016.
Savings
12-month CD
Checking
Bill-pay
0.01%
0.15%
0.01%
Free
Notes: $500 minimum deposit for certificate of deposit and no minimum deposit for checking. Savings Plus, below $10,000 tier. ATM access for checking. Citibank rates may vary by state, rate collected within NY. Rates as of December 11, 2016.
Notes: No fees. $1000 minimum. No ATM. DollarSavingsDirect is an online banking division of Emigrant Bank. Rates as of December 11, 2016.
Savings
16-month CD
Checking
Bill-pay
0.50%
—
—
—
Notes: No fees, no minimums for savings account. $1000 minimum for certificate of deposit. No ATM. Sibling to Dollar Savings Direct. Rates as of December 11, 2016.
Funded more than $11 billion in home loans in 2018
Has roughly 1,000 mortgage loan originators
Licensed in all 50 states and the District of Columbia
Today we’ll review Homebridge Financial, which through recent acquisitions has grown to be a top-20 mortgage lender in the United States.
In mid-2019, they acquired HomeStreet Bank’s home loan centers and its personnel, and two years earlier the operating assets of Prospect Mortgage.
They consider themselves one of the largest privately held, non-bank lenders in the United States (in the top-10).
Aside from being a direct-to-consumer retail mortgage lender, they also operate two wholesale mortgage operations.
They include Homebridge Wholesale and REMN Wholesale, so it’s possible you could get a home loan from Homebridge via a mortgage broker.
For the record, REMN stands for Real Estate Mortgage Network.
How to Apply for a Mortgage with Homebridge Financial
When it comes to applying for a mortgage, you can visit a Homebridge branch if there’s one nearby or use their loan originator directory if you’ve been referred by someone.
Or you can simply input some basic information on their website and a loan originator will get back to you.
If you know the name of the individual you want to work with, you can also enter it via the short form on the Homebridge website to ensure you’re paired with the right person.
Homebridge has physical branches in the following states: AL, AZ, CA, CO, CT, FL, GA, HI, ID, IL, MA, MD, ME, MO, NC, NJ, NV, NY, OH, OR, PA, RI, SC, TX, VA, VT, WA.
While many so-called digital lenders allow you to complete much of the loan process online without speaking to anyone (think Rocket Mortgage or Better Mortgage), Homebridge appears to be big on building relationships.
And they feel that “using an online mortgage lender just doesn’t provide the same kind of personalized service.”
Unfortunately, there’s no mention of a digital loan process. So for those who like convenience over all else, Homebridge might be lacking somewhat.
But for those interested in a human touch, they could be a good choice.
What Homebridge Financial Offers
Home purchase loans and refinance loans
Conforming, jumbo, government, and interest-only loans
Fixed-rate and adjustable-rate loan programs
Renovation loans including FHA 203k and Fannie Mae HomeStyle
Mortgages on second homes and investment properties
Reverse mortgages
Energy Efficient Mortgages
Mixed use and Commercial loans
VA 100% cash out
Non-warrantable condos
Homebridge allows you to purchase a home, renovate one, or refinance an existing mortgage, including the option to pull cash out.
They offer all the usual loan types, including conventional, FHA, USDA, and VA loans.
Loan programs include fixed-rate mortgages like the 30-year and 15-year, along with adjustable-rate mortgages such as the 5/1 ARM.
You can also get a jumbo and even a super jumbo loan with them, along with a interest-only home loan, reverse mortgage, or a renovation loan (FHA 203k or Fannie Mae HomeStyle).
In terms of niche offerings, you can get a VA 100% cash out loan, a construction-to-perm loan, an energy efficient mortgage, mixed use and commercial, and even financing on a non-warrantable condo.
They also have a builder division devoted to helping real estate agents and home builders sell more homes, with extended rate locks and a dedicated condo/co-op approval process.
Homebridge Financial Mortgage Rates
With regard to their mortgage rates, we’re in the dark here because they don’t openly advertise them on their website or elsewhere.
That’s not to say they’re bad or just average. In fact, they could be really good, we just don’t know because they don’t have a page on their website dedicated to them.
Additionally, we don’t know much about their lender fees because those are also nowhere to be seen.
Again, they could be in line with industry averages, lower, or higher. But they seem to keep this information to themselves.
So if you’ve gotten a mortgage quote from Homebridge, be sure to compare the rate and closing costs to those of other lenders. Otherwise you won’t know how competitive they are.
Homebridge Home Rewards
One perk offered by Homebridge is the “Homebridge Home Rewards” program, which provides customers with a gift card valued at up to $595.00 for taking out a home purchase loan or mortgage refinance loan.
You must make the gift card request prior to loan origination, and your mortgage must be either an FHA loan, VA loan, or a conventional conforming loan.
The following types of borrowers are eligible:
Members or employees of an approved Affinity company
Members, volunteers, donors or sponsors of an approved non-profit
Military
Law Enforcement
Teachers
Firefighters/Emergency Medical Technicians
For non-profits, eligible borrowers will receive a gift card for up to $250.00 and a $250.00 donation will be made in the borrower’s name to the non-profit.
The minimum loan amount in order to be eligible is $100,000. It is not available in the state of Utah.
Homebridge Financial Reviews
They have a 4.6 out of 5 star rating on Trustpilot, which is considered excellent. It’s based on over 1,650 reviews.
At Zillow, they have a 4.97 out of 5 star rating on nearly 3,000 reviews, which is pretty hard to beat.
Many of the reviews say both the interest rate and fees/closing costs were lower than expected.
They are not an accredited business with the Better Business Bureau (BBB), not that it necessarily matters.
Every week, I receive a couple of books in the mail from authors and publishers. (This week there were six!) They’re hoping that I’ll find time to review their work at Get Rich Slowly. I do my best, but it’s impossible to read everything.
When John Smith offered to send me his book, Confessions of a Butcher, I wasn’t expecting much. I’ve read a few niche books like this, and they’re usually uninspiring. As a full-fledged carnivore, I’m please to report this one is different. Smith spent more than 30 years in the meat industry, and he’s used his experience to produce a short book packed with information.
Confessions of a Butcher contains:
60 pages describing different cuts of meat and offering suggestions for cheaper alternatives.
A glossary of meat-related terms.
An appendix containing 30 pages of short articles, such as “What to do with leftover turkey”.
The book has sections on beef (steaks, quality steaks, roasts, ribs, ground beef), pork (chops and steaks, roasts, ribs), lamb, veal, and chicken. Smith lists about 100 cuts of meat (most of which are beef). He briefly describes each cut, and then suggests cheaper (or higher-quality) alternatives.
Smith granted me permission to reprint some examples from the book. Here are his entries for stew meat, ground beef, and lamb.
Stew meat is made from the trim that is left over from the day’s cuttings. Even when stew meat is on sale, it may not be as cheap as many other cuts. Boneless chuck roasts and round steaks on sale will be cheaper, sometimes a lot cheaper. Find the cheapest and leanest cut of meat and cut into cubes for stew or ask the butcher for his assistance.
Now having said all that, the best meat for stew, in my humble opinion, comes from the brisket, flatiron, or the chuck flat strip. These three cuts should cost you less than the stew meat in the counter but may not be the best deal you can find. They will however be the best stew meat you can find.
Regular ground beef is 27 to 30 percent fat and usually priced to sell. However, you should be able to find boneless chuck roasts on sale for about the same price. Have the butcher grind some up for you. You may not save much, if any, money, but you will get a lot better product. Just about any cut of beef in the counter, when ground, will definitely make leaner and nicer ground beef than regular hamburger.
Lamb Money-saving alternative: see below.
The best thing you can do to save money on lamb purchases is either watch the ads or shop for lamb in a store that is part of a major supermarket chain but located in a blue-collar neighborhood. Most major supermarkets have a meat counter schematic that is the same throughout the chain. In a blue-collar meat and potatoes kind of neighborhood, lamb is not a regular part of the diet, but the local supermarket still has to carry a lamb lineup. In these types of stores, you may find legs of lamb and the like reduced to sell.
I have worked in several stores just like this and have been eating lamb (and saving lots of money) ever since. Ask the butcher if the store ever reduces lamb and when to look for it. Another alternative is to buy lamb from the farmer and have it processed at a local custom meat plant. Be ware that you will lose more than 50 percent from the processing.
I think this is great information. Kris and I have always been puzzled why our friend AJ produces better stews than we do. It’s likely that she’s just a better cook, but maybe she uses a different cut of meat. Also, I had my first ground sirloin burger last month. I’m not sure I can go back to regular ground beef after that. (Yes, I realize ground sirloin is more expensive.)
Note: Did you notice something about each of these three tips? They all involve speaking with your butcher. This is true of many of the book’s suggestions, and in a way it’s disconcerting. Kris and I discussed this, and we realized that we don’t “have a butcher”. We go to the supermarket to pick up meat. Sometimes we ask the person behind the counter for a particular steak. That’s it. We’ve never thought about asking to have meat ground. What about you? Do you have a butcher?
Although I found the book interesting, Kris was less enthused. “If you had a recipe and were looking to save money, this would be handy book,” she told me. “But it assumes too much on the part of the reader. It uses a lot of meat-related terms, many of which aren’t in the glossary. Plus, I would have liked more detail on what recipes each bargain cut would be good for.”
“Would you pay $11.95 for this book?” I asked.
“No,” she said. “But I might if it were beefier — with charts and hints and recipes.” (Note: Kris didn’t really say “beefier”. That’s just me being funny.)
I, however, would pay $11.95 for Confessions of a Butcher. We buy a lot of meat, and if the book saved us even a few bucks, it would have paid for itself. I do agree, however, that it’s a bit jargony and could benefit from some diagrams and recipes. (Rumor has it there’s a sequel in the works that will address some of these concerns. I’d rather see a revised edition that lumped everything together.)
I’ll leave you with my favorite piece of advice from John Smith. In the chapter about butcher etiquette, he writes:
To really butter up your butcher, always leave a nice comment on his helpfulness and professionalism as you go through the checkstand…Some homemade cookies once in a while won’t hurt either.
Come to think of it, bloggers like homemade cookies too!
For more on this subject, check out these articles from the archives: Making the most of cheap cuts of beef and How to buy a side of beef. Addendum: I finally found it again! Check out the All About Meat website for free online information about meat from the author of this book.