For some, “digital nomad” evokes the image of a young, unencumbered tech worker sending emails from the beach. Indeed, three-quarters of digital nomads are under age 40, according to a 2023 survey of over 1,200 digital nomads by Flatio, an online accommodation platform.
Yet some families have joined the digital nomad lifestyle, leaving their belongings — and the idea of a “home” — behind as they travel the globe. The lifestyle may not afford families the same hammock-swinging freedom that digital nomads without children enjoy, but these adventurous parents say the trade-offs are worth it.
“We really like the whole adventure,” says Chris Oberman, founder of Moving Jack, a blog about his family’s trips around the world. “Normal things like going to the supermarket become really special because it’s a new experience.”
Originally from the Netherlands, Oberman, his partner, their 6-month-old baby and their two cats are currently in Iraq. They plan to move to South Korea this summer.
“Logistically, it requires a lot of planning,” Oberman says. “Before we move abroad, we return to our home country to arrange all necessary documents. Since we don’t own a house, we either stay with family or rent a place. When we depart for our new destination, we stay in a temporary place such as a serviced apartment or hotel that allows cats (which isn’t easy to find).”
In the midst of this explanation, the power went out.
“The power goes out five times a day,” Oberman says with a laugh, highlighting some of the unexpected challenges of living abroad with a family.
Schools and social circles
Schooling poses one of the biggest challenges to families living on the road. Oberman’s infant is too young for school, so that’s not an issue, but other digital nomad families must get creative when it comes to education.
“Our decision on where to go is influenced by factors such as having internet access to educational opportunities for our kids, safety and cost of living,” Vasilii Kiselev said in an email. Kiselev is from Florida, and his family of four is currently nomading in Portugal. “[We] incorporate local culture and history into their learning experience.”
This approach reflects an educational movement called “world schooling,” an unofficial term that describes an educational approach centered around cultural immersion. Some, like Kiselev, still seek formal education while traveling, while others combine nomadism with homeschooling. The Facebook group “Worldschoolers” has over 67,000 members.
And while it might sound challenging for children to get uprooted regularly, Kiselev, whose children are ages 8 and 12, suggests that adjusting to nomadism is a matter of practice.
“They have adapted well to the lifestyle,” Kiselev said.
Changing friend groups and even languages from one month to the next can be a challenge for anyone, never mind a child. Oberman says he’s aware of the social difficulties that lie ahead for his son.
“As he makes friends, it could be tough for him.”
Budgets and trade-offs
Raising kids is expensive whether at home, abroad or on Mars.
It’s easy to be daunted by the cost of traveling full time with a family, especially given how expensive a few weeks’ vacation can be. Yet many nomadic families are able to maintain a budget when living full time on the road.
Kiselev’s family budgets about 1,500 to 2,500 euros ($1,629 to $2,715) per month for housing.
“It’s pricey but necessary for a comfortable living space.”
Another cost is private school, which costs Kiselev about 500 to 1,000 euros ($543 to $1,086) per month, or $6,516 to $13,032 per year — an attractive price for many U.S.-based parents in high cost-of-living areas.
For comparison, according to a study last updated in October 2023 by the Education Data Initiative, a research group focused on the U.S. education system, the average annual private school tuition across grade levels K-12 in Massachusetts is $25,061, and California’s average is $16,637.
Of course, that doesn’t include last-minute hotels, airfare, travel insurance and all the other expenses accrued from shuttling a family around the globe. Oberman’s family found themselves flying back and forth from Iraq to the Netherlands and Dubai during the pregnancy because of concerns about the quality of health care in Iraq. Those expenses can add up in a hurry and swamp any savings from lower overall costs of living.
Yet many families find the financial trade-offs worth it in terms of the experiences they and their families are able to accrue.
“Showing our child so much of the world is very rewarding and helps him grow with a global perspective,” says Oberman.
Inside: Learn $35000 a year is how much an hour. Plus find an 35k salary budget to live the lifestyle you want.
You want to know to look into this…35k salary is a solid hourly wage; above most minimum hourly wage jobs.
For most people, an entry-level job would be paying just over $35,000 a year. The question that remains is can you make a living off $35k a year?
The median household income was $70,084 in 2021 not much different from the previous year (source). Think of it as a bell curve with $70 at the top; the median means half of the population makes less than that and half makes more money.
The average income in the U.S. is $55,350 for a 40-hour workweek; that is an increase of 1.1% from the previous year (source). That means if you take everyone’s income and divide the money out evenly between all of the people.
But, the question remains… Can you truly live off 35,000 per year in today’s society since it is well below both the average and median household incomes? The question you want to ask all of your friends is $35000 per year a good salary.
In this post, we are going to dive into everything that you need to know about a $35000 salary including hourly pay and a sample budget on how to spend and save your money.
These key facts will help you with money management and learn how much per hour $35k is as well as what you make per month, weekly, and biweekly.
Just like with any paycheck, it seems like money quickly goes out of your account to cover all of your bills and expenses, and you are left with a very small amount remaining. You may be disappointed that you were not able to reach your financial goals and you are left wondering…
Can I make a living on this salary?
$35000 a year is How Much an Hour?
When jumping from an hourly job to a salary for the first time, it is helpful to know how much is 35k a year hourly. That way you can decide whether or not the job is worthwhile for you.
35000 salary / 2080 hours = $16.83 per hour
$35000 a year is $16.83 per hour
Let’s breakdown how that 35000 salary to hourly number is calculated.
For our calculations to figure out how much is 35K salary hourly, we used the average five working days of 40 hours a week.
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, divide the yearly salary of $35000 by 2,080 working hours and the result is $16.83 per hour.
Just below $17 an hour.
That number is the gross hourly income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
You must check with your employer on how they plan to pay you. For those on salary, typically companies pay on a monthly, semi-monthly, biweekly, or weekly basis.
What If I Increased My Salary?
Just an interesting note… if you were to increase your annual salary by $5K to $40K per year, it would increase your hourly wage to almost $19 an hour – a difference of $2.40 per hour.
To break it down – 40k a year is how much an hour = $19.23
That difference will help you fund your savings account; just remember every dollar adds up.
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.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
How Much is $35K salary Per Month?
On average, the monthly amount would be $2,916.
Annual Salary of $35,000 ÷ 12 months = $2,916 per month
This is how much you make a month if you get paid 35000 a year.
$35k a year is how much a week?
This is a great number to know! How much do I make each week? When I roll out of bed and do my job of $35k salary a year, how much can I expect to make at the end of the week for my effort?
Once again, the assumption is 40 hours worked.
Annual Salary of$35000/52 weeks = $673 per week.
Here are jobs that pay weekly.
$35000 a year is how much biweekly?
For this calculation, take the average weekly pay of $673 and double it.
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x 52 weeks = 260 working days
Annual Salary of$35000 / 260 working days = $134 per day
If you work a 10 hour day on 208 days throughout the year, you make $168 per day.
$35000 Salary is…
$35000 – Full Time
Total Income
Yearly Salary (52 weeks)
$35,000
Monthly Salary
$2,916
Weekly Wage (40 Hours)
$673
Bi-Weekly Wage (80 Hours)
$1,346
Daily Wage (8 Hours)
$134
Daily Wage (10 Hours)
$168
Hourly Wage
$16.83
Net Estimated Monthly Income
$2,227
Net Estimated Hourly Income
$12.85
**These are assumptions based on simple scenarios.
Do you know how many work days in a year you work? This answer may surprise you.
35k a year is how much an hour after taxes
Income taxes is one of the biggest culprits of reducing your take-home pay as well as FICA and Social Security. This is a true fact across the board with an all salary range up to $142,800.
When you make below the average household income, the amount of taxes taken out hurts your hourly wage.
Every single tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
So, how much an hour is 35000 a year after taxes?
Gross Annual Salary: $35,000
Federal Taxes of 12%: $4,200
State Taxes of 4%: $1,400
Social Security and Medicare of 7.65%: $2,667.50
$35k Per Year After Taxes is $26,722.50
This would be your net annual salary after taxes.
Hourly Salary After Taxes
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$26,722.50 ÷ 2,080 hours = $12.85 per hour
After estimated taxes and FICA, you are netting $26,722 per year, which is $8,277 per year less than what you expect.
***This is a very high-level example and can vary greatly depending on your personal situation and potential deductions. Therefore, here is a great tool to help you figure out how much your net paycheck would be.***
Taxes Based On Your State
In addition, if you live in a heavily taxed state like California or New York, then you have to pay way more money than somebody who lives in a no tax state like Texas or Florida. This is the debate of HCOL vs LCOL.
Thus, your yearly gross $35000 income can range from $23,922 to $28,122 depending on your state income taxes.
That is why it is important to realize the impact income taxes can have on your take-home pay. It is one of those things that you should acknowledge and obviously, you need to pay taxes. But, it can also put a huge dent in your ability to live the lifestyle you want on a $35,000 income.
How Much Is 35K A Year Hourly Salary Calculator
More than likely, your salary is not a flat 35k, here is a tool to convert your salary to hourly calculator.
Many entry level jobs start at this range, which may make you believe that a business degree is worth it.
Every person reading this post has a different upbringing and a different belief system about money. Therefore, what would be a lavish lifestyle to one person, maybe a frugal lifestyle to another person? And there’s no wrong or right, it is what works best for you.
One of the biggest factors to consider is your cost of living.
In another post, we detailed the differences between living in an HCOL vs LCOL vs MCOL area. When you live in big cities, trying to maintain your lifestyle of $35,000 a year is going to be extremely difficult because your basic expenses, housing, transportation, food, and clothing are going to be much more expensive than you would find in a lower cost area.
To stretch your dollar further in the high cost of living area, you would have to probably live a very frugal lifestyle and prioritize where you want to spend money and where you do not. Whereas, if you live in a low cost of living area, you can afford the cost of living and maybe save more money. Thus, you have more fun spending left in your account each month.
As we noted earlier in the post, $35,000 a year is well below the average income that you would find in the United States. Thus, you have to be wise with how you spend your money.
What a $35,000 lifestyle will buy you:
If you are debt free and utilize smart money management skills, then you are able to enjoy the lifestyle you want.
You are able to rent in a decent neighborhood in LCOL.
Driving a beater car is normal.
You should be able to meet your basic expenses each and every month.
The focus is on becoming financially sound.
Not be able to afford many of the fun spending luxuries.
Ability to make sure that saving money is a priority, and very possibly save $5000 in one year.
When A $35,000 Salary Will Hold You Back:
However, if you are riddled with debt or unable to break the paycheck to paycheck cycle, then living off of 35k a year is going to be pretty darn difficult.
There are two factors that will keep holding you back:
You must pay off debt and cut all fun spending and extra expenses.
Break the paycheck to paycheck cycle.
It is possible to get ahead with money!
It just comes with proper money management skills and a desire to have less stress around money. That is a winning combination regardless of your income level.
$35K a year Budget – Example
As always, here at Money Bliss, we focus on covering our basic expenses plus saving and giving first, and then our goal is to eliminate debt. The rest of the money is left for fun spending.
If you want to know how to manage a 35k salary the best, then this is a prime example for you to compare your spending.
You can compare your budget to the ideal household budget percentages.
recommended budget percentages based on $35000 a year salary:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$160
Savings
15-25%
$438
Housing
20-30%
$817
Utilities
4-7%
$117
Groceries
5-12%
$244
Clothing
1-4%
$29
Transportation
4-10%
$117
Medical
5-12%
$175
Life Insurance
1%
$15
Education
1-4%
$29
Personal
2-7%
$29
Recreation / Entertainment
3-8%
$58
Debts
0% – Goal
$0
Government Tax (including Income Taxes, Social Security & Medicare)
15-25%
$690
Total Gross Monthly Income
$2,917
**In this budget, prioritization was given to basic expenses and no debt.
Is $35,000 a year a Good Salary?
As we stated earlier if you are able to make $35,000 a year, that is a low salary. You are making around or just above minimum wage.
While 35000 is a decent salary just starting out in your working years, it is a salary that you want to rapidly increase before your expenses go up or the people you provide for increase. If not, you will be left working multiple jobs to make ends meet.
However, too many times people get stuck in the lifestyle trap of trying to keep up with the Joneses, and their lifestyle desires get out of hand compared to their salary. And what they thought used to be a great salary actually is not making ends meet at this time.
This $35k salary would be considered a lower class salary. You must make each dollar count in your budget.
Check: Are you in the middle class?
In fact, this income level in the United States has enough buying power to put you in the top 95 percentile globally for per person income (source).
The question you need to ask yourself with your 35k salary is:
Am I maxed at the top of my career?
Is there more income potential?
What obstacles do I face if I want to try to increase my income?
In the future years and with possible inflation, in many modest cities, 35000 a year is not a good salary because the cost of living is so high, whereas these are some of the cities where you can make a decent living at 35,000 per year.
If you are looking for a career change, you want to find jobs paying at least $45000 a year.
Is 35k a good salary for a Single Person?
Simply put, you can make it work.
You can stretch your salary much further because you are only worried about your own expenses. A single person will spend much less than if you need to provide for someone else.
Your living expenses and ideal budget are much less. Thus, you can live comfortably on $35000 per year.
And… most of us probably regret how much money wasted when we were single. Oh well, lesson learned.
Is 35k a good salary for a family?
Many of the same principles apply above on whether $35000 is a good salary. The main difference with a family, you have more people to provide for than when you are single or have just one other person in your household.
At the 35K salary with a family, you would need more than one income stream to make this possible without government help.
The costs of raising children are high and will steeply cut into your income. As you can tell this is a huge dent in your income, specifically $12,980 annually per child and this does not include college.
That means that amount of money is coming out of the income that you earned.
So, the question really remains… can you provide a good life for your family making $35,000 a year? This is the hardest part because each family has different choices, priorities, and values.
More or less, it comes down to two things:
The location where you live in.
Desire to improve your career and make more money.
Your lifestyle choices.
You will not be able to afford everything on this salary.
Many times when raising a family, it is helpful to have a dual-income household. That way you are able to provide the necessary expenses if both parties were making 35,000 per year, then the combined income for the household would be $70,000. Thus making your combined salary a very good income.
Learn how much money a family of 4 needs in each state.
Can you Live on 35000 Per Year?
As we outlined earlier in the post, $35,000 a year:
$16.83 Per Hour
$134-168 Per Day (depending on the length of day worked)
$673 Per Week
$1,346 Per Biweekly
$2,916 Per Month
Next up is making $40,000 a year.
Like anything else in life, you get to decide how to spend, save and give your money.
That is the difference for each person on whether or not you can live a lower-class lifestyle depends on many potential factors. If you live in California or New Jersey you are gonna have a tougher time than Oklahoma or even Texas.
In addition, if you are early in your career, starting out around 32,000 a year, that is an okay place to be getting your career. However, if you have been in your career for over 20 years and still making $35K, then you probably need to look at asking for pay increases, picking up a second job, or finding a different career path.
Regardless of the wage that you make, if you are not able to live the lifestyle that you want, then you have to find ways to make it work for you. Everybody has choices to make.
But one of the things that can help you the most is to stick to our ideal household budget percentages to make sure you stay on track.
Learn exactly how much do I make per year…
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.
As an Amazon Associate and member of other affiliate programs, I earn from qualifying purchases.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.
Find out TODAY if this is THE business you’ve been looking for.
You can make money as a freelance writer. Learn techniques to find those jobs and earn the kind of money you deserve! Plus get tips to land your first freelance writing gig!
Learn how to buy and resell items from flea markets, thrift stores and yard sales. They will teach you how to create a profitable reselling business quickly
…no matter how much or how little experience you have.
Learn how to supplement your daily, weekly, or monthly income with trading so that you can live your best life! This is a lifestyle trading style you need to learn.
Honestly, this course is a must for anyone who invests. You will lose more in the market than you will spend this quality education – guaranteed.
Read my Invest with Teri Review.
Designed as a 101-level course on freight brokerage, you’ll learn the basics of freight brokering in this online course.
This course is designed for freight brokers in any setting, regardless of their employment status.
If you want to start your brokerage, we’ll show you exactly how to do it. If you are an agent or employee of a brokerage, we’ll take you through sales and operations modules designed to help you source more leads and move more freight.
The Empowered Business Lab teaches you how to sell your digital products naturally with strategies that just make sense.
Monica helps thousands find momentum and create revenue streams in their businesses.
After taking a second job as a driver for Amazon to make ends meet, this former teacher pivoted to be a successful stock trader.
Leaving behind the stress of teaching, now he sets his own schedule and makes more money than he ever imagined. He grew his account from $500 to $38000 in 8 months.
Check out this interview.
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.
Finding the perfect apartment often means discovering a place that feels like a retreat, and there’s nothing more inviting than a beautiful pool to enhance your living experience. We’ve scoured the country to bring you a roundup of the most stunning apartment pools from coast to coast. Whether you’re dreaming of lounging by a resort-style pool in an apartment in Orlando, enjoying a rooftop swim with panoramic views in Denver, or taking a refreshing dip in the pool of a luxury rental in Las Vegas, these apartment complexes offer the ultimate in relaxation and luxury. Dive in with us as we explore these beautiful pools that make coming home feel like a vacation.
1. Metro Edgewater Apartments
452 Northeast 31st Street, Miami, FL
Located in the heart of Miami’s vibrant Edgewater neighborhood, Metro Edgewater offers high-end residences perfect for those desiring an elevated living experience. The apartments feature modern designs with custom cabinetry, quartz countertops, and floor-to-ceiling windows providing breathtaking views of Biscayne Bay and downtown Miami. The highlight is its breathtaking pool, surrounded by poolside cabanas, providing residents with a serene oasis to relax and unwind.
2. Domain at CityCentre
811 Town And Country Blvd, Houston, TX
Domain at CityCentre in Houston perfectly complements urban living with its luxurious amenities and prime location. With over 45 restaurants and 55 retail shops just minutes from your front door, convenience is unmatched. Prefer to stay in? Enjoy the resort-style swimming pool or share a meal with friends at the outdoor patio bar and grill.
3. Essex Luxe Apartments
8000 Essex Point Circle, Orlando, FL
Essex Lux Apartments in Orlando offers a modern living experience with upscale one-, two-, and three-bedroom apartments. Enjoy thoughtfully designed interiors with quartz countertops, stainless-steel appliances, and wood plank flooring. The highlight of the resort-style amenities is the zero-entry saltwater swimming pool, perfect for relaxation and leisure. Additionally, residents can enjoy a fully equipped fitness center and a beautiful resident clubhouse.
4. The Apex @Meadows
4480 Meadows Lane, Las Vegas, NV
The Apex @Meadows blends suburban tranquility with urban flair, featuring an expansive courtyard, lush landscaping, and a rooftop lounge with breathtaking views. Residents also enjoy a state-of-the-art fitness center and smart home conveniences. The standout feature is the beautiful pool area, providing a refreshing retreat in the heart of the city.
5. Trivista on Speer
1350 Speer Blvd, Denver, CO
TriVista on Speer is located in Denver’s Golden Triangle Creative District. The complex features a stunning pool and spa with a lounge area, perfect for relaxation. Residents can also enjoy amenities such as a two-story fitness center, a rooftop deck with mountain views, and direct access to the Cherry Creek Bike Path. TriVista on Speer combines modern living with the convenience of being within walking distance of Denver’s best artistic and historical attractions.
Jenna is a Midwest native who enjoys writing about home improvement projects and local insights. When she’s not working, you can find her cooking, crocheting, or backpacking with her fiancé.
Embattled mortgage company Hometown Lenders filed for Chapter 11 bankruptcy protection Monday, revealing debts of at least $40 million to parties including lenders and vendors.
CEO Billy Taylor in a case filing blamed his firm’s downfall on rising interest rates that decimated borrower and investor demand for home loans. Hometown’s revenue fell by 70% in recent years as it laid off employees and shuttered branches. It shut down business operations last October.
“Despite making these cuts, however, the Debtor was unable to overcome the unforeseen adverse market conditions in the mortgage lending industry,” wrote Taylor in a declaration to the U.S. Bankruptcy Court for the Northern District of Alabama.
The business, which also operated under the 1st Family Mortgage brand, said in its Chapter 11 filing that it had funds available for distribution to unsecured creditors. It lists between 100 to 199 creditors, and both estimated assets and estimated liabilities between $10 million to $50 million. Flagstar Bank holds the largest unsecured claim, a $20.1 million sum stemming from a lawsuit over Hometown’s alleged default on a warehouse line of credit.
Two former Hometown managers have unsecured claims of $5 million and $3.5 million, while a father-son duo are owed a combined $1.25 million for their propping up of an Illinois office. Branch managers a year ago told National Mortgage News they were paying rent and utilities to cover for the then retail lender’s struggles.
Other significant debts include $3.5 million to warehouse lender First Horizon Bank, $3.4 million to Freddie Mac and $943,000 to the Internal Revenue Service. The defunct shop owes six-digit debts to prominent industry vendors, and $300,000 and $250,000 sums to ESPN and the PGA Tour, respectively.
The company, organized in 2000, grew to be the largest mortgage banker in Alabama before spreading nationwide by the time of the refinance boom in 2021. At its peak, Hometown counted over 1,400 workers across 120 offices, and 1,500 loan closings per month in the first quarter of 2022.
Hometown faltered along with the industry and eventually closed less than 100 loans per month in June 2023. At that time, it had fewer than 400 employees across 40 offices. Days before its complete shutdown, Hometown announced a transition from a retail to broker model.
Besides missed tax payments, several states previously revoked Hometown’s origination licenses for failing to pay mortgage insurance premiums on government-insured home loans. Employees told National Mortgage News of chaos at the company last June, alleging missing money in deferred compensation counts, missing 401K matches and unfunded health insurance among other issues.
An attorney who filed the petition on behalf of Hometown didn’t return a request for comment Tuesday afternoon.
Taylor is the lender’s sole shareholder. A status hearing in the bankruptcy is scheduled for Wednesday morning in an Alabama federal court, while creditors are scheduled to meet July 9.
Inside: Learn how to save 5000 in a year by following this step-by-step guide. You’ll be able to save money for your goals – retirement, vacation, or emergencies.
I started my $5,000 Savings Challenge on February 16th and haven’t missed a day since. I’ve already saved over $3,500 so far – can you beat that?
A savings challenge is just like any other contest or competition that is designed to get people motivated into saving more than what they normally would.
It works by setting short-term goals for yourself (such as opening one additional account per month), rewarding your progress with some kind of prize at the end (in this case, a $5,000 gift card), and tracking your progress with some kind of tool.
The average person spends $1,000 per year on fast food. If you can save that money by eating out less, you could put it towards your retirement fund or any other savings goal.
There is always a reason not to save money, but once you prove to yourself you can save money, that is a gamechanger.
In this post, find out how this $5000 saving challenge works as well as tips for setting goals that will work best for you.
Why Save $5000 in a Year
One of the most common questions I get is “How do you save so much money in a year?”. The number one reason people don’t save is that they think it’s impossible. The truth is, anything in life worth doing takes time and energy to achieve.
Typically when people think about saving money they think of it as a one-time event that would only save them $50-$100, which is not worth the time or effort.
But when you think about saving money as making a small change to your daily life that will lead to long-term savings, it’s a lot less intimidating.
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.
Reasons to Save $5000 a Year:
I saved 5000 dollars in a year when I started to realize I was spending my money in ways that were frivolous and did not align with my long-term financial goals.
You can do the $5k saving challenge too!
You can fund any of the following by saving 5 grand a year:
You cannot afford to start saving now.
If you want to save more, then start looking at your saving percentage!
How to Save 5000 in a Year
This is how to save $5,000 in a year.
Saving $5,000 in a year is no small feat.
But if you’re feeling excited about what that could do for your future with just this one investment of time and money, you’re not alone.
No matter what your financial goals are, saving $5k in a year will help get you there faster and with less stress.
That’s why we are challenging you to the $5,000 savings challenge.
We want to help you save more and build your financial future.
1. Save a Flat Amount
Each month or week you will need to save the same amount.
This is the easiest way to save $5,000 in one year is by saving the same amount (e.g., $416.67) each month for 12 months.
If you are saving on a weekly basis, you will be saving $96.15 a week.
If you are saving on a bi-weekly basis, you will be saving $192.31 a week.
Monthly Amount Saved = $417
Semi-Monthly Amount Saved = $209
Weekly Amount Saved = $97
Bi-Weekly Amount Saved = $193
Knowing these amounts helps you to deduct these amounts straight from your paycheck into your saving account for the $5k savings challenge.
This is a great challenge for those who make 5000 a month.
2. Start Small and Save More
With this method, you will start saving a smaller amount of money and grow to save more each month.
By starting to save smaller amounts of money, you can find ways to become more frugal as you continue with the challenge. Also, this works well if you plan to make more money throughout the year.
You start by saving $120 and add an additional $50 to the previous month’s total.
Month 1 = $150
Month 2 = $200
Month 3 = $250
Month 4 = $300
Month 5 = $350
Month 6 = $400
Month 7 = $450
Month 8 = $500
Month 9 = $550
Month 10 = $600
Month 11 = $650
Month 12 = $700
At the end of one year, you will save $5,100!
The downfall to this challenge is things get more difficult. Thus, making you more likely to give up.
3. Start Big and Save Less
This will give you a buffer if something happens in your life.
You save more money upfront and then taper how much you save each month or week.
This method is preferable especially if you start with a no spend challenge.
You start by saving $600 and deduct $33 from the previous month’s total.
Month 1 = $600
Month 2 = $567
Month 3 = $534
Month 4 = $501
Month 5 = $468
Month 6 = $435
Month 7 = $402
Month 8 = $369
Month 9 = $336
Month 10 = $303
Month 11 = $270
Month 12 = $237
At the end of one year, you will save $5,022!
The upside to this challenge is you get the majority of saving completed in the first part of the year. Thus, you get a jump start on seeing progress and sticking to habits.
Savings Challenge Tracker
A savings challenge tracker is a tool that helps people with saving money.
It offers an interface to track various savings goals, such as retirement, education, and emergency funds.
These goals are set by the individual and can be changed at any time. The tool also offers a goal calculator, which allows users to predict how much they will need to save in order to meet a certain goal.
This is why you need a savings challenge tracker.
10 Simple Ways to Save $5,000
There are many ways to save $5,000 in a year. With the right strategies and preparation, it is possible to reach your goal even if you’re not financially well-off.
Here are tips and practical ways to cut expenses to help you save $5000 money.
1. Track your Spending
The first step to saving $5,000 is to track your spending.
When you do this, it will help you see where you could be wasting money and identify areas that need improvement.
Also, we highly recommend recording daily expenses so that there isn’t any confusion at the end of the month. Also, this helps identify areas where you are wasting money and adjust your spending accordingly.
2. Reduce your Cell Phone Bill
Switching to a discounted carrier can save hundreds of dollars. If you switch from one of the leading carriers to a discount carrier, you could potentially save $840 per year.
3. Save Money on Food
The most obvious way to save money is by using your credit or debit card to analyze your spending. Add up your food spending for the past three months.
If you are not careful, you could spend a lot of money on food without realizing it.
There are several ways to reduce the amount of food you spend including being more conscious of what you spend at restaurants.
To save money on food, I recommend shopping at discount grocery stores like Aldi or sales at your local stores. By shopping less often, you will not be tempted to spend more money.
Meal planning is another great way to save money by buying only what you need and planning your meals ahead of time so that you don’t overbuy.
4. Use Cash Back Apps
One of my favorite ways to save money is to take advantage of cash back apps.
There are many different websites and apps that allow you to earn cash back on purchases.
There are 3-personal favorites:
Rakuten
Ebates
Ibotta
5. Credit Card Rewards or Signup Bonuses
There are many ways to save a lot of money in a year. Credit card offers can earn you anywhere from $100 to $500 as a one-time bonus. and if you use them responsibly, this can add up over the year. This is also known as credit card hacking.
Cash Back rewards are a great way to save money. Credit card offers can range from 2% – 5% of cash back, but it will take some work on your end to make sure you categories match up to your highest spending areas.
6. Get Cheaper Insurance
If you have a lot of insurance, it’s possible that you could save money by moving to a different company or making some adjustments to your policies.
It’s easy to get quotes from multiple insurance companies.
There are lists of the best home insurers and best auto insurers when you’re ready to start your shopping.
7. Find Free or Cheap Things to Do
Fun things with friends and family are a great use of your time, but there are ways to cut back on entertainment expenses without sacrificing fun.
Things like going to the movies, sporting events, concerts, as well as trips to the bar or meals out with friends can really add up fast. So, here is a list of 101+ things to do with no money.
8. Set Limits on Fun Spending
Give yourself a hard limit on how much you can spend on entertainment
You must set limits on how much you spend each day, weekly, or monthly.
This may include how often you shop. Shopping is fun, but it’s also costly and time-consuming if you do it often.
9. Watch Out for Small Purchases
When each purchase feels so small, it’s hard to believe how quickly it all adds up.
those $10 or $20 purchases over the course of the year will add up quickly to the tune of $100-4000 a year!
Wait 24 hours to make sure you still want the item.
10. Find Side Hustles to Make Money
There are so many ways to make extra money that will speed up your savings.
Here are some ideas that will have you saving $5k in a year:
Flea Market Flipping: Buying and re-selling items for higher prices
Freelance Writer: There are many different types of services that can be offered as a freelancer.
Pet sitting and dog walking: Simple side hustle for extra cash
Freelancer: Graphic design, web design, web development, photography, and social media marketing specialists are always needed.
Drive for DoorDash: a flexible way to make money
Take online surveys
Learn to Invest in the Stock Market: This one should not scare you away. By investing, you are able to grow your money with passive income. This is a skill we all need.
Related Reading: 21+ Genius Ways on How to Make Money Fast
More Ways to Save Money:
Dump your cell phone plan
Cancel those gym memberships
Stop subscribing to Netflix or Hulu
Cut back on groceries by buying in bulk at Costco
Shop on Amazon for clothing and other goods (just beware of daily deliveries)
Stop paying for cable
Rent instead of buying an expensive TV
Get rid of your car
Switch to a low-cost airline
Stop buying expensive coffee
Once you’ve done all of these things, you will be impressed with how you save your money. You’ll have $5000 in just one year!
How to Save $5000 in a Year Chart:
The saving money chart shows the average amount of money that can be saved in a year by making small changes to your spending habits.
It is important to note that this figure is an average and not a goal.
It is important to set realistic financial goals and to track your progress in order to really achieve the savings you want.
Here are two how-to save $5000 in a year printable chart – one for monthly savings and another for weekly savings.
What can you do with $5,000 in Savings?
The $5,000 Savings Challenge can help you start saving more money than you thought was possible! You have to be ready to dedicate the resources and determination to make it happen.
Where are you at in your savings journey?
This $5000 saving challenge may or may not be right for you! And that is okay!
We have plenty of money saving challenges to help you succeed here on Money Bliss.
This challenge is for anyone who wants to save money and reach their savings goals.
It’s designed to help you start saving today with an easy plan.
Money Saving Challenge:
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.
Mortgage fintech Loansnap is in deep trouble amid an eviction, nonpayment lawsuits, a consent order and dismal origination figures.
The company’s woes, first reported by TechCrunch, include a May eviction at its Costa Mesa, California office, the building’s landlord confirmed Tuesday. MGR Real Estate sued Loansnap in an Orange County court for $404,667, alleging it had failed to make its $55,056 monthly payments.
Michael Rademaker, founder and CEO of MGR, told National Mortgage News the lender is locked out of its former space and still hasn’t paid any of the rent it owes. LoanSnap lists the former Costa Mesa suite as its sole lending location, and its de facto headquarters in Consumer Nationwide Multistate Licensing System records.
The lender, which says its artificial intelligence tools can close loans in as few as 24 hours, appears to be rapidly shrinking. It counts just five sponsored mortgage loan originators in NMLS records, and only $2.3 million in origination volume last year, according to S&P Global data. In 2022 and 2023, it reported in Home Mortgage Disclosure Act filings volume of $499 million and $209 million, respectively.
A number listed for Loansnap in the NMLS was disconnected, while an answering machine at a line listed on its website did not provide the option to speak to a representative. The firm’s press contact also didn’t reply to a request for comment Tuesday.
TechCrunch reported comments from unnamed company sources who claim Loansnap missed payroll this winter, and an active headcount dropping under 50. On LinkedIn, the firm counts 30 employees. It still has active origination licenses in 37 states, according to NMLS records.
Loansnap still retains an origination license in Connecticut following a recent consent order and $75,000 fine to state officials last month. The business was first hit with a cease and desist order in January over its use of unlicensed MLOs in customer transactions. The May agreement was signed by company president Allan Carroll.
Loansnap also faces lawsuits from counterparties alleging nonpayment.
A Minnesota federal court in November issued a default judgment of $431,511.75 for Wells Fargo, which sued the lender for failure to repurchase a loan that didn’t meet the depository’s debt-to-income requirements. Anderson, a global tax firm, sued Loansnap last month in a New York state court over a $1 million debt from a $5 million warehouse line of credit for single-family lending.
An attorney for Andersen declined to comment on pending litigation, while an attorney for Wells Fargo didn’t respond to a request for comment. Loansnap did not retain legal representation in either case, according to public records.
Despite the list of woes, Loansnap continued to announce business activities, including joining a startup program by artificial intelligence and computer chip giant Nvidia. As the Costa Mesa eviction was filed in court in February, Loansnap also touted its entry into a fintech program by Visa.
The fintech has raised $57.7 million in four funding rounds from 14 investors, according to S&P. TechCrunch, sharing data from venture capital database Pitchbook, says the company has raised about $100 million since 2017, including $19 million last July from Forte Ventures. Pitchbook data also said the lender has $12 million in debt.
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.
Many people experience regret when they receive gifts they don’t like.
It is important to avoid this by giving and receiving the right type of gift for someone. Some items that make for great gifts are subscriptions to magazines, concert or theater tickets, video games, movies, and books.
Other ideas include checking off bucket list adventures!
Experience gifts are the best gifts.
Many times after gifts are opened, you might be feeling a little disappointed in what you bought for others. You spent time and money, but now they are just left with a mountain of gifts that won’t be put to use. Don’t worry—we’ve got your back and plenty of ideas!
How can you avoid gift regret? Well, there are many different options to explore to find the perfect present.
In this post, we will cover unique experience gift ideas for her, families, kids, and everyone in between.
What are Experience Gift Ideas?
Experience gifts are a type of gift that gives the recipient an experience as opposed to tangible goods.
For example, you could buy someone tickets for their favorite band or sports team and they will get to go to an event and have a great time.
This type of gift will not expire, so if the person does not want it or use it right away they can still enjoy it later on!
Honestly, these are gift ideas that would love to do yourself!
Give the gift of experience by giving a membership to an activity, a day pass for activities like yoga or rock climbing. You can also give someone a voucher to take a class like cooking or painting.
There are so many options! We will go further in detail below.
Why Buying Experiences is Better than Physical Gifts?
If you still have gift cards on the table, it might be time to think about what your loved one really wants. “What is important for people are experiences that create memories,” says Harvard business professor Michael Norton.
A study by the Journal of Consumer Research found that for experiences, people felt more satisfied and happy with what they had received than material gifts like clothes or jewelry.
One way to make a gift even more special is to take the recipient with you when you go shopping.
Some people might feel bad when they get a gift they don’t like, but it is ok. For your next gift to someone you love, try getting them something different – like an experience gift!
Many people looking for a no gift Christmas look for experiences instead.
Ultimate List of Life Experience Gift Ideas
A lot of people experience gift regret when they receive a gift that is not their style or something that has no use. This can be frustrating because the person who gave you the present did their best to find what they thought you would enjoy.
That is why we have the best experience gift ideas all in one place!
There are many experience gift ideas on this list of the best experience gift ideas.
-A trip to your favorite theme park.
-An evening of bowling and dinner with friends.
-A night at a sleepover party for girls only.
– The list goes on and on with so many fabulous ideas!
Many of these on the list are outdoor experience gift ideas!
The best gift ideas are the ones that they will love and cherish for years. With these many great experience gift ideas, you will be sure to find the perfect gift for any occasion.
Who says a birthday is just another day? It’s a special time, and it deserves something extra-special as a present.
These types of gifts are perfect for the frugal green person who cares about saving money and being eco-friendly.
Experience Gifts for Everyone
If you are looking for a gift that will be remembered, look no further.
We have rounded up the best gifts to give someone who is hard to buy for or just wants something different than a gift card.
This may seem like it’s too good of a present, but if you know the person well, it’s a gift that will not go to waste.
Weekend Getaway: If you are looking to gift someone with a gift that is guaranteed to not go unused, give them an unforgettable experience. Find the perfect hotel today.
Language Courses: Learning a new language is always a great idea! This is something that can be done in your own time and space. Start your journey to bi-lingual.
Bowling: Has it been a while since you went bowling? Time to lace up those bowling shoes for a night out at the lanes. Can you roll a strike?
Dinner Out (or Dinner In): Everyone loves a break from cooking. Find the local trendy restaurant or pick of their favorites. Either or, it is the company that makes the difference!
Night Out with Friends: This is always a great gift idea! There are so many different things you can do for a night out.
Monthly Subscriptions: Monthly subscriptions are a fun gift that can either be an ongoing thing like Netflix or HBO, or something for the month that includes their hobbies.
Fitness Classes: At home or on the go! There are plenty of options for a healthier lifestyle. You can find new, exciting fitness workouts anywhere!
Groupon Deal of the Day: Let the popular app find all of the ideas that are hot in their area. Plus save a buck or two for the saver in you! Find Groupon Deals.
White Water Rafting Expedition: If you are looking for an adventure, white water rafting is the perfect gift. With the best company and scenery, it will be a day that they’ll never forget!
Ziplining Tour: SOme of my best memories are from a ziplining tour. Make sure to zipline in a breath-taking place to soak in the scenery around you. For a bigger adrenaline rush, zipline through a cliff.
Hotel Gift Card: Don’t have the perfect gift idea? Give them a night out on you! Buy them a hotel gift card to spend when they are ready.
Book Club: Books make great gifts because there’s never anything like it in someone else’s collection, and you can find one that’s appropriate for their reading level. Double bonus: when you meet for drinks to re-hash the books.
Baked Goods: Give a friend or family member something to bake, like cookies or bread. It’ll make them feel happy and proud of themselves, and you’ll get to enjoy the results. Even better… pass along the recipe and ingredients for them to recreate themselves.
Gift Cards: For the person who has everything, give them an experience they can buy with their gift card. Give someone $30 to spend at a local art store and they’ll be grateful for the experience.
Cash: Cash is king. Let the people who love buy their own presents. This is especially a great gift for a frugal person.
A Donation: Don’t want to spend any money? Consider donating in someone’s name; they’ll appreciate it more than anything else.
It’s the time of year to celebrate with family, friends, and loved ones.
Hopefully one of these life experience gift ideas is appealing to yoU!
Experience Gift Ideas for Kids
Kids and families will appreciate a wide array of gifts!
It is hard to shop for gifts for kids who have everything, so hopefully, this list gave you some ideas.
This gift list includes out-of-the-box ideas to help minimize the clutter most families deal with as well as much-loved gifts.
Art Class: Art supplies and a session with an instructor, designed to create your own masterpieces. Plus the best part is you do not have to clean up the mess!
Archery: This sport is always on the list of “coolest things to do.” Learn archery, improve your technique and have a chance to participate in competitions.
Sports Lessons: Get some new skills and have a ton of fun while improving their athletic ability.
Backpacks & Sports Bags: Kids need to keep their stuff organized! This could be a camelpak for their next hike or just a travel bag for their next trip. Find ideas!
Subscription Boxes: Looking for something to come in the mail? Get a monthly box of goodies that you will be excited to open. Find the perfect subscription box.
Music Lessons: Become the next pop star with lessons in piano, guitar, or violin.
Tool Kit: This includes everything you need to fix things around your house and will teach skills that last a lifetime. This is great for the teenager or young adult.
Sleepover Party – Time for giggles and fun! Find sleepover party supplies here!
Art Supplies: Every craft station needs to be refilled for hours more of fun!
Ice Cream: You scream, we scream, we all scream for ice cream! Always a sweet treat and there are so many places that make your experience a delicious time!
Any of these kids experience gift ideas are winners for them! Check out this post for the best kids gifts under $10. Made by kids for kids.
Experience Gift Ideas for Family
A family’s experience with a gift is more important than the amount of money spent on it. If you’re looking for some new ideas, try any of these ideas.
Plus you buy one gift for the whole family!
Try any of these experience gift ideas for families!
Family Dinner Night Out: For many families, it is too costly to take the whole family out to dinner. Find a restaurant that is known for creating an experience the family will never forget.
Family Game Night: Stock the game closet! These are great gifts when the kids grow up because their interest changes and ability level improves. Drop ship a gift basket for family game night.
Family Green Space Improvement Projects: Such as a backyard garden or a small vegetable plot or even flower pots. Provide the seed money and let the family flourish together.
Paintball Package: For those who love to participate in outdoor activities, a paintball package is a lot of fun and a big adrenaline rush.
Helicopter Tour: This is a great gift for kids who love to learn about the world! This is an experience they will never forget.
Trip to Local Theme Park: What better way to have fun than to visit your favorite theme park with friends or family?
Family Movie Night: Purchase a gift subscription to the popular streaming services. Disney+ is perfect for kids. Put together a snack bucket with popcorn and everyone’s favorite beverages.
Sporting Event: Buy a t-shirt or jersey of their favorite team and surprise the little sports fan with an evening at the live game!
Camping Trip: Glamping is allowed, too! It is about disconnecting from the devices and having in-person interactions. Plus the wild will always surprise you!
Age Specific Weekend Getaway: When your child (or grandchild) is a certain age, take them on a trip. During this one-on-one time, you can have plenty of experiences and memories to share. Popular ages to do this would be nine years old, twelve years old, and fifteen years old.
Experience Gift Ideas for Couples
This section provides ideas for gifts that are best suited for couples.
Cooking Class: Couples who enjoy cooking together will enjoy a cooking class. Even if they need to learn to cook, this will be an extremely useful gift!
Online Course: Pick a topic; any topic! There are thousands of online classes to explore together to learn a new skill, find a new hobby, or enhance your skills. This is a course I did with my husband.
Adventure Ticket: Think like a tourist! This gift idea can be local to your area. What is the one thing this couple hasn’t experienced in their area?
Hot Air Ballooning: Don’t worry if you are afraid of heights, being in a hot air balloon is like floating across the water. It is a romantic and unforgettable experience to share.
Rent a Boat: Yeah, a boat. If you have the time and money to rent a boat for what will be an extended period of time, this is going to make one heck of a memorable gift.
Tickets to a Comedy Show: Laughing is the best medicine, and what better way to get a laugh than at a comedy show.
Adventure Ticket: Think like a kid- get them a ticket to go do something adventurous.
Couples Therapy: You could be treading a very fine line here. However, learning how to be a better spouse is always a great idea. Just make sure you have solid referrals.
Date Night: Who doesn’t enjoy a date night? Cover the cost of a babysitter and give them money for the restaurant.
A Day at the Movies and Lunch: Sounds picture-perfect, right?
Encourage their Passion: If you know what the couple’s passions are, give them money to go and pursue it. For example, if they’re musicians or artists then buy a guitar for them or a sketchbook.
Golf Lessons: These are an experienced-based gift that will allow them to enjoy a hobby together.
Music Lessons: Music is a universal love and they can learn how to play the guitar, harmonica or drums. Time spent together is harmony.
Plan for the future: Get them a certificate to receive daycare in case they need it at some point in their lives. Or get them a gift card from Costco to help with all the baby items they will need.
Experience Gift Ideas for Her:
Some experience-based gifts you can give a woman on her birthday or Christmas. Ladies love to be pampered (hint, hint)!
Spa Treatments: These include manicures, pedicures, and facials. They are a relatively inexpensive gift that she is sure to love!
Massages: A massage will make her feel like a new woman and she will love the way it feels.
A Day at the Spa: This is the most luxurious of them all. Instead of just one or two spa treatments. Add in foot soaks and of course, the more intense ones like a mud treatment or body wrap can really clean you up. The lady of your life gets pampered for a half-day or full day.
Time for Herself: Quiet zen time away from the needs in her life. This could be an hour of quiet or a full day.
Luxury Hotel Stay: Sometimes, you need a luxurious night of sleep without children waking you up.
Tickets to an Event: This could be for the theater, concert, or art grand opening. If you know your lady well, you will know what her passion is and can find the perfect ticket to match.
Night Out on the Town: This date includes dinner and a show.
Surprise Dinner from Her Favorite Restaurant: Sometimes, it is the little things in life that make the best gifts.
Yoga or Pilates Classes: Some people find that these classes relieve their stress. Plus improve your flexibility at the same time.
These are some of my favorite gift ideas.
Experience Gift Ideas for Him:
I think most guys prefer experiences over being lavished with gifts.
Also, let’s be honest… Men are 95% more likely to go out and buy exactly what they need and not wait for a holiday to come around.
Give him an experience day and he will be talking about it for years to come.
These are gift ideas for men who have everything!
Skydiving: Can you imagine? The adrenaline rush of jumping out of a plane and free-falling at 120 miles per hour. It’s an experience that he won’t soon forget.
Rock Climbing: He’ll get to experience the adrenaline rush of climbing up a cliff, navigating over obstacles, and getting to the top.
Horseback Riding: It’s not just for girls! Horseback riding is a great outdoor activity that he can do with his friends.
Throwing 1st Pitch at Baseball Game: It doesn’t matter their age. This is a dream for all ages!! The trickier part is how to make this experience gift idea happen.
Snowboarding: He’ll get to experience the adrenaline rush of snowboarding and enjoy learning a new skill set. Just hope he make it down the mountain in one piece.
A Day at the Spa: A man may not think this is a gift, but if he needs to be reminded of how good it feels to take care of himself then I say go for it.
Renting a Sports Car: This is a rite of passage for every man to drive a sports car.
Day at the Race Track: Specifically to be able to drive the cars; not just watch the professionals drive. Many of the race tracks offer amateurs a chance to feel the exhilaration of 100 mph.
Charter Fishing Trip: The best way to spend a weekend. Ask any guy and the story will be bigger than the fish they caught!
More than anything that is considered living on the edge is the perfect experience for him!
Best Experiences Gift Guide
This guide will help you come up with gift ideas for loved ones.
It won’t help with cleaning baseboards, but it will help you find gift ideas that they will appreciate. It is always good to say I appreciate you!
When it comes to buying a gift for someone who is a bit harder to buy for, consider giving them an experience that they would not otherwise be able to do.
Art & Entertainment-themed:
If you are looking for an experience gift, look no further than the arts.
Tickets to a Play: If you are looking to give a gift that will last for an extended period of time, consider gifting someone with the experience of attending one event at their favorite venue.
Tickets to a Concert: These will not go to waste and can be used anytime within their validity period. Time to jam away to the tunes.
Museum Membership: Consider gifting someone with a membership to an art gallery or museum. Also, many museums have reciprocal benefits and can be used in other cities when traveling.
Food & Drink Themed:
A great gift idea for any occasion is to give food or drinks. Whether it’s a holiday, birthday, anniversary, or just because you want to show someone how much they mean to you, food themed gifts are a great way to show you care.
Cooking Classes: This is a great idea for the foodie or non-foodie! Everything tastes better and is more fun when you do not have to clean up afterward.
Wine Tour: This gift is perfect for the wine enthusiast. Wine tasting, learning about viticulture, and enjoying tastings of different wines are all part of this gift.
Brewery/distillery tours: For the craft beer or liquor enthusiast, this is a great gift. Learn how different beers and liquors are made while enjoying tastings of them.
Culinary school: This is for the foodie and non-foodie alike. Whether you love to cook or never touch the stove, culinary school is a great gift for anyone who wants to learn more about their craft.
Things to Do Themed:
Experiences are perfect for friends and family. They make the recipient feel like they got to do something fun or interesting (even if it’s just sitting in a room with snacks).
It’s also a great way to make someone feel like they’re worth more than the value of whatever you spent on them.
Time to get moving with these things to do gift idea list!
Zoo Membership: A membership to your local zoo is a great way to enjoy (and learn about) the animals that live in our world.
Movie Tickets: Movie tickets are always a good idea, and it’s a great way to enjoy something together.
Pool Membership: Pool memberships are a great way to enjoy the summer. It’s also good for people who don’t like hot weather since they can cool off in the water.
Waterpark Passes: Water parks are a great way to have fun in the sun.
Membership at a Museum: Memberships to museums are an opportunity for people who love art, history, or science.
National Park Pass: Passes to national parks are a great way to enjoy nature.
Botanical Gardens: Botanical gardens are a great way to enjoy the beauty of nature indoors and outdoors.
Professional Photography Shoot: Professional photography shoots are a great way to have professional pictures. Get dressed up and smile!
Art Class: Art classes are a fun way to learn about art and express your creativity. Even better, when you do them as a group!
Related Posts:
Learn Something New Themed:
If you are looking for a gift idea that will not go to waste, consider learning something new.
There is an abundance of courses and workshops available in all sorts of subjects!
Find a new hobby or hone your skills.
Crafting Classes: Have you been to your local craft store? There are hundreds of types of crafts to choose from. Some ideas include: knitting, sewing, painting, beadwork, jewelry making, woodworking, etc. Find crafting ideas here.
Language Classes: It is best to learn a new language through immersion. But, the recipient may be hesitant and want to know a few words in the new language before setting out on that experience. Start your journey to bi-lingual.
Subscription Boxes: THere are hundreds of subscription box ideas. Just pick one to match their personality. Plus a new box comes on a recurring basis.
Tennis Lessons: This gift idea was well received in our house. We bought new tennis rackets and a backpack along with a package of lessons. Plus it is a lifelong skill to be able to play.
Photography Workshops: Happy; excited; nervous! Time to learn photography from a new lens. You will proud of your new skills.
Instrument Lessons: Time to get in tune with your inner self. Every had a dream to play a musical instrument? I have; it is the drums. What would your gift recipient want?
Horseback Riding: Buckle up and get ready to ride. This could be a one-time adventure or a package for riding lessons.
Dance Lessons: You will not regret it. Well, you might later. This is a must for any engaged couple. That couple’s dance is waiting for your dance skills!
Equipment Needed for Passions:
Regardless of your hobby or passion, it comes with some type of cost. It is difficult if you do not have the equipment needed to enjoy time doing something you enjoy.
This is one of the greatest gifts you can give!
The equipment will fund the experiences that this person craves to have. Or replace worn out items.
More than likely, you won’t know what exactly to get. So, ask for a wish list or their favorite place to buy equipment. Cash or gift cards are extremely beneficial.
Camping Gear: Once you own the equipment, this is a cheap activity to participate in. However, there are upfront costs of collecting all of the gear.
Sewing Machine: If you know someone who sews or is interested in sewing, this gift will go a long way. Sewing machines range from $200-500 and it’s usually worth the purchase if they enjoy sewing. My mother-in-law purchased mine!
Climbing Gear: If they are an avid climber, this is a great gift. Like camping gear, it has upfront costs of investing in the equipment to get started.
Photography Equipment: Photography equipment is expensive upfront, but it can be used for years to come. This is a great idea for someone who enjoys taking pictures.
Telescope: Telescopes are expensive, but it’s a lifetime investment. This is perfect for a starry-eye person who enjoys looking at the stars.
Fly Fishing Equipment: Fly fishing equipment is expensive but lasts a long time. This can be used by an avid fly fisher for years to come.
Road Cycling or Mountain Biking: Road cycling or Mountain biking equipment is expensive but lasts a lifetime. This can be used by avid cyclists for years to come.
Sports Gear: This could be for golf, tennis, soccer, or any sport! What is the equipment needed, so they can enjoy time playing.
Scuba / Snorkeling Gear: Scuba or snorkeling gear is expensive, but it’s worth the investment. This could be used by an avid scuba diver for years to come.
It can be hard to find a good gift for someone that has everything. When you find yourself in this position, there are many things to think about when purchasing a present. One thing you’ll want to do is consider the hobbies of the person you are buying for.
At Home or Virtual Experience Gift Ideas:
A virtual experience can be an eye-opening experience. It is like you are there, but not really there. Instead of going to a museum or getting info about whales from a book; you can get the same information from a virtual experience.
Online Cooking Classes: Cooking is a great way to get out of the kitchen. You can learn techniques or just try new recipes. Find classes today.
Online Wine Tasting: Yes, all of the wine is delivered to your door. Lead by a wine sommelier on the varieties and what to expect during each skip.
Workout Experiences: Start your fitness journey in the comfort of your own home. There are many options available for workouts that can be done from just about anywhere with the equipment you already have at home!
Airbnb Online Experiences: If you miss traveling, then you are able to travel to some of your favorite locations. While it may not be the same, you can start planning your trip for another time!
Online Classes: This is an idea for anyone who has a passion they want to explore. There are thousands of courses on almost any topic you can think of. With this, there is no need to go to school to find your passion, you can do it right from home.
Board Games: Brush off the games or pick out a new board game. No one will get tired of playing their favorite.
Themed Experiences: If you are looking for a unique experience for someone, then think about planning it around their favorite thing.
How do I Give an Experience as a Gift?
Gifting an experience is a great way to give someone an unforgettable gift.
With experiences, you can choose the location, the type of experience, and what your budget can afford.
You can also choose whether you want the experience to be for someone specific or publicly available. The fun part is you can get creative on how to wrap it like money gift ideas!
How to Wrap up the Experience as a Gift:
Buy something that represents part of the gift.
Create a gift certificate.
Handwrite a lovely letter explaining the gift experience.
Wrap up a huge box with a tiny note.
There are plenty of ways to wrap up a gift experience. Just follow your personality to choose the best way to gift wrap it!
Which Experience Gift Ideas Will You Use?
Many people who are not satisfied with their gifts during the holidays end up feeling regretful. This holiday season, there are plenty of options to choose from that will be used for years to come
The idea of giving someone a gift can be overwhelming.
We are bombarded with deals and deals, but in the end, it is just another thing that will eventually clutter up our homes.
There is a better way.
Gifts that encourage experiences over material things do not go to waste and can create memories for a lifetime. They also require less thought, which these days are a good thing.
You can find plenty of life gift experiences for:
Father’s Day
Mother’s Day
Mother-Daughter
Grandparents
Parents
Girlfriend / Boyfriend
Wedding
Husband / Wife
Birthday
Graduation
Christmas
It’s time to think outside the box and give someone an experience they won’t soon forget!
If I do buy something, I focus on purchasing consumable gifts that will be used up.
Seriously, think about what do I want for Christmas or any other occasion…
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.
When you conjure up your favorite summer memories, what comes to mind? Maybe it’s seaside vacations with family, a crowded music festival with your favorite people, or a quiet solo weekend in a mountain cabin.
Did you know that your brain processes emotion and scent as one? That’s because smells are processed by the olfactory bulb, a structure in the front of the brain that connects to the limbic system, the areas responsible for emotion and memory. So whether you want to remember the waves or the tranquil mountainside creek or the sweet smell of popcorn and cotton candy, these summer candle scents will awaken your best feelings through fragrance. Our experts weigh in to help you find a new favorite.
The subdued charm of honeysuckle
If you’re from the eastern areas of the United States, you know the sweet, unassuming scent of summer – the honeysuckle. Some people love the smell so much that they add the flowers to consumables like tea and pastries to savor it fully.
“Our honeysuckle candle will transport you to a time of running through the beautiful lush, blooming honeysuckle fields with hints of citrus and dewy notes of honeysuckle and blooming jasmine with undertones of wood adding texture and balance to this beautiful candle fragrance. You cannot go wrong with this best-smelling candle.” says Tanisha of Malaysian Lights Candle Company.
Or, as Dr. Liz Lehman of Aluminate Life, adds, “The scent of honeysuckle immediately takes me back to childhood summers in upstate New York, where hot days were spent skipping rocks in rivers edged with fragrant white and yellow honeysuckle. Those warm nights, running barefoot through dewy grass to catch lightning bugs, were enveloped in honeysuckle’s lush, sweet aroma. This fragrance truly captures the essence of a summer vacation — warm, sweet, and joyously carefree.”
Scents of the sea
A beach vacation has become the standard summer getaway for many reasons. Capturing the essence of both the beach breeze and the floral and wood notes surrounding you when you visit the shoreline, these candles transport you with the light of a match, whether you dream of finding rental homes in Cape May, NJ, or apartments in San Diego.
“Our sea salt and orchid candle scent is blissfully fragrant, inspiring dreams of coastal landscapes we’re salty and floral magically unite in the purest most intricate way,” says Jessy from Seaside Candle Company. “It creates the perfect balance of complexity yet a flawless aromatic fragrance bringing serenity to your space.
If you’ve ever been to a high-end resort, you know the feeling that scent evokes – ultimate relaxation. It’s the scent of “I’m worth it.” And as we learned from The Candle Lab Cincy, “Vacation means different things to everyone, but our favorite summer vacation scent has to be our sea minerals-inspired candle! Not only is it beachy and fresh, but it reminds us of the most relaxing, luxurious spa as well. The soothing notes of sea salt, eucalyptus, and freesia will have you feeling like you just stepped into a 5-star beach resort!”
Similarly, Zachary Hylton, senior account executive at Aromatic Fragrance International mentions a personal favorite candle: “One of my favorite scents is made by Sea Love and their candle is called Tan Lines. It makes me want to book a ticket straight to the beach and unwind for the week.”
Meet me in Montauk
Montauk, a beloved inlet on the east side of Long Island, attracts vacationers from NYC and beyond, especially in the summer. This destination has become well known for being a popular fishing and surfing spot but also has charming seaside spots to stop in to rest, eat and shop.
“The perfect summer vacation scent for me will remind me of grabbing brunch with my friends in Montauk. That’s why I’m going to burn a mandarin/orange candle to give me refreshing mimosa vibes. I love citrus candles and I want people to get into them more!” says Cristian of Nose Best Candles.
Backyard barbecue with loved ones
For many, a staycation or a lively weekend with friends is the best recipe for summer fun. Maria Schiering of candlespice co. seems to agree. “If a summer anthem could be summed up to a single scent, it would be candlespice co.’s citrus and garden herb candle! The invigorating notes of clementine and lemon blended with the herbal elements of garden lavender and fresh-cut basil make this scent a perfect conversationist for your next backyard barbecue!”
The sweet rush of a summer street fair
State and county fairs – with their questionably safe rides, fried food and impossible-to-win prizes – have become a staple of nostalgic summer fun for many. “My favorite summer scent is cotton candy. Its airy sweetness and sugary aroma instantly bring back memories of summer fairs and carefree childhood days. This whimsical scent fills any space with a dreamy, joyful vibe, making every moment feel like a delightful summer adventure.” says Rochelle Campbell of Pure Intentions Candle Company.
Cozy up to coconuts and woods
Sweetness and woods combine to create the ultimate cozy scent that’s still fresh enough for a hot summer day. Who says you have to save the woody hotels for winter? According to Will Diedrich, who co-owns Diedrich Candle Company with his wife, “Rachel and I have built our business, Diedrich Candle Company, around the idea that fragrances provide comfort and enrich people’s lives. Our favorite scent for summer is coconut and mahogany. When summer rolls around, you can find us at Panama City Beach sipping on a tropical drink, warm sand between our toes as the fresh ocean air blows through our hair. Coconut and mahogany capture all these wonderful scents in a jar and bring the beach vacation to you, wherever you are.”
Earthy, garden scents reminiscent of SoCal
California is a popular vacation spot for travelers hoping to catch sun and surf. As Ericka Anderson, CEO of The New Savant, so poetically adds, “Sunny, verdant, and endlessly dreamy, we have an energizing fragrance that centers one of our founder’s favorite smells and an unusual note to find in candles: fresh dill. Combined with cucumber, juicy peaches and wet earth, our Heatwave candle is balanced, unique and the perfect scent to burn for a little mood boost.”
A run to the ice cream truck
When you look back to your childhood, do you remember the joy you experienced at the musical ice cream truck cruising through your neighborhood? Catching it just in time and buying a sweet treat is a happiness that’s hard to replicate in adulthood.
Take yourself back to those blissful moments just by lighting a candle. Tanisha from Malaysian Lights Candles describes this gorgeous scent: “The first stop on our trip is our orange dreamsickle cupcake candle! Bursting with zesty orange notes and exotic Hawaiian pineapple swirled in creamy, sweet vanilla. This cupcake candle will make you feel as excited as you were when standing at the ice cream truck as a child.”
Summer candle scents for every home and memory
As you’ve seen here, if you can dream it, you’ll find a candle for it. Whether you want to find yourself somewhere less landlocked or transport yourself to the county fair, we’ve captured the best of summer in candle scents. Light a match or flick a lighter, and you’re off to the best vacation or staycation you’ve ever had. What are you waiting for?
Maggie McCombs is the managing editor at Rent., where she oversees the content calendar and production schedule for three high-traffic websites. She studied linguistics and Spanish at the University of Georgia, where she learned the fundamentals of languages like Arabic, Latin, French and Old English and mastered Spanish literature. Since college, Maggie has developed a strong portfolio of blogs and journalistic pieces alike. Outside of work, Maggie spends time playing video games (especially anything Zelda!), competing in trivia contests, listening to audiobooks, exploring new cities and relaxing with her husband, dogs and cat.
You may have heard that the nation’s largest mortgage lender just rolled out a zero down mortgage.
If you were around for the housing market crash in the early 2000s, it could feel like déjà vu. And not in a particularly good way.
After all, it was toxic home loans that sunk the market then, sending home prices crashing and short sales and foreclosures surging.
Does this mean we’re going down a familiar path, which will likely see a familiar outcome?
Or is it a big to do about nothing?
UWM’s New 0% Down Purchase Program
United Wholesale Mortgage (UWM), which works exclusively with mortgage brokers, recently unveiled a new loan program called “0% Down Purchase.”
As the name implies, it allows a home buyer to purchase a property with nothing out of pocket, at least with respect to down payment.
Upon first glance, this looks and sounds like a bad idea, especially with how high home prices are at the moment. Not to mention mortgage rates either…
But before we get into the judgment of the program, let’s talk about how it works.
It’s essentially a 97% LTV loan, widely available from both Fannie Mae and Freddie Mac, featuring a 3% silent second mortgage provided by UWM.
The silent aspect of the second mortgage means it doesn’t carry any monthly payments, or interest for that matter.
Instead, this lien just quietly sits behind the first loan and only comes due if the borrower sells the property, or refinances the first mortgage.
If borrowers choose to, they can make payments on the second mortgage, though there’s no obligation to do so.
Most will likely just ignore its presence and when the time comes, pay it off via a sale or refinance.
And when this occurs, it will simply result in slightly lower sales proceeds, or a bump in their loan amount when refinancing (but factor in how much they pay down the first loan between that time).
Who Qualifies for This Program?
There are two ways to qualify for this new program, one income-based and the other reserved for first-time home buyers.
Those with income at or below 80% of the Area Median Income (AMI) for the address of the property their purchasing can qualify if they meet Freddie Mac’s Home Possible® guidelines.
They simply need a 620+ FICO score and the loan-to-value ratio (LTV) must be between 95% and 97%.
So-called “very-low income borrowers” with qualifying income at or below 50% AMI will receive a $2,500 credit as part of the 3% down payment assistance.
This credit does not need to be repaid and is deducted from the balance of the second mortgage.
The other way to qualify, assuming your income is too high, is by being a first-time home buyer and meeting both Freddie Mac’s HomeOne® and UWM’s guidelines.
As a quick reminder, a first-time buyer is someone who has not had ownership interest in a home in the three years prior to application.
In addition, they must have a 700+ FICO score and the LTV must be greater than 95%, up to a maximum of 97%.
The Maximum Purchase Price is $500,000
Because the 3% credit is limited to $15,000, the max purchase price is $500,000.
This would result in a loan amount of $485,000 at 97% LTV with the silent second set at $15,000.
As noted, there are no monthly payments on the first mortgage, with the second accruing no interest either.
It comes with a 360-month loan term, aka 30 years, and features a balloon payment upon sale or refinance.
Simply put, a home buyer with limited down payment funds may now be able to purchase a property they wouldn’t have qualified for before.
The million-dollar question is does this significantly increase risk, or just boost home purchase loan volume for UWM?
How Much Riskier Are Zero-Down Loans?
Now I don’t want to be flippant and say down payments don’t matter. But if the baseline is 3% down, is 0% much different?
Sure, there is some skin in the game at 3%, or 3.5% in the case of an FHA loan, but it’s still pretty minimal.
It’s hard to say what difference it would make in terms of borrower behavior. Perhaps the down payment provides some risk mitigation.
Maybe it deters a high-risk borrower from making the decision to buy a home versus rent.
But ultimately you have to look at layered risk. Back in the early 2000s, zero down mortgages were pervasive.
However, they were offered alongside stated income underwriting and/or no doc underwriting.
In addition, you could buy an investment property with nothing down, again with limited documentation regarding your income, assets, or employment.
On top of that, borrowers often took out adjustable-rate mortgages, or worse, option ARMs that allowed for negative amortization.
Today, these loans need to fully underwritten, even if they don’t require a down payment. And my guess is most if not all will be 30-year fixed-rate mortgages.
That makes me feel a little better about them, even if they lack a financial commitment from the borrower.
And when you look at it in the context of 3% down loans being readily available from any lender that offers Fannie Mae or Freddie Mac loans, it doesn’t feel a whole lot different.
If we were comparing it to the traditional 20% down payment required for a home purchase, that’d be an entirely different story.
Then you’d feel that this program was pretty novel and potentially dangerous.
With its close proximity to Providence and beautiful coastal views, East Providence offers a peaceful suburban lifestyle with easy access to urban amenities. From the quaint neighborhoods to the thriving arts and culture scene, this city has something for everyone. So whether you’re searching for the perfect East Providence apartment along the waterfront or a cozy rental home in a friendly neighborhood, you’ve come to the right place.
In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to East Providence, RI. Let’s get started and see what awaits in this hidden gem along the Rhode Island coast.
Pros of living in East Providence, RI
1. Waterfront Living
East Providence offers beautiful waterfront living along the Seekonk River, providing residents with picturesque views and access to recreational activities such as boating, fishing, and waterfront dining. The scenic East Bay Bike Path also runs through the city, offering a perfect opportunity for outdoor exercise and leisurely strolls along the water’s edge.
2. Rich History and Culture
With a rich history dating back to the 17th century, East Providence has a vibrant cultural scene, including historic sites, museums, and art galleries. Residents can explore the city’s past at the John Hunt House or immerse themselves in contemporary art at the Heartspot Art Center and Gallery. The diverse cultural heritage of the city is celebrated through various community events and festivals, providing a deep sense of connection to the area’s roots.
3. Convenient Location
Located just a short drive from Providence, East Providence offers the perfect balance of suburban tranquility and urban convenience. Residents can easily access the amenities and attractions of the capital city while enjoying the peaceful atmosphere of their own community. The proximity to major highways like I-195 and Rte 44 also makes commuting to other parts of Rhode Island and Massachusetts a breeze.
4. Neighborhood Diversity
East Providence is home to a variety of diverse neighborhoods, each with its own unique character and charm. From the historic architecture of Watchemoket to the friendly atmosphere of Kent Heights, residents have a range of options to choose from. Whether seeking a bustling urban environment or a quiet suburban retreat, there’s a neighborhood to suit every lifestyle.
5. Outdoor Recreation Opportunities
The city of East Providence offers an abundance of outdoor recreation opportunities, including numerous parks, playgrounds, and sports facilities. Residents can enjoy picnics at Pierce Field, play a round of golf at Agawam Hunt, or take a leisurely stroll through the scenic Haines Memorial State Park. The city’s commitment to green spaces and outdoor activities makes it an ideal place for nature enthusiasts and active individuals.
6. Culinary Delights
East Providence is a haven for food lovers, with a diverse culinary scene that reflects the city’s cultural diversity. From family-owned diners serving up classic comfort food to trendy eateries offering international cuisine, there’s no shortage of dining options to explore. Residents can indulge in fresh seafood at waterfront restaurants like Waterman Grille or savor authentic ethnic dishes from around the world without ever leaving the city.
7. Cost of Living
East Providence offers a relatively affordable cost of living compared to neighboring cities, making it an attractive option for those seeking a balance between quality of life and expenses. The average rent for a 2 bedroom apartment in East Providence is $2,582, much cheaper than the $5,276 average rent in nearby Boston. Housing options range from historic homes to modern apartments, providing a variety of choices to accommodate different budgets and preferences. The city’s cost-effective living arrangements allow residents to enjoy a comfortable lifestyle without breaking the bank.
Cons of living in East Providence, RI
1. Traffic Congestion
One of the drawbacks of living in East Providence is the potential for traffic congestion, especially during peak commuting hours. The city’s proximity to major highways and its connection to Providence can result in heavy traffic, leading to longer commute times and occasional frustration for residents. Navigating through congested roadways may require patience and strategic planning to avoid delays.
2. Limited Public Transportation Options
While East Providence is well-connected by major roadways, the city’s public transportation options are relatively limited compared to larger urban centers. The transit score for East Providence is 30 out of 100, indicating that most residents are dependent on cars for day to day errands. Residents who rely on public transit may find themselves with fewer convenient routes and schedules, making it challenging to commute without a personal vehicle. The lack of extensive public transportation infrastructure can pose a hurdle for those seeking alternative travel methods.
3. Weather Extremes
East Providence experiences weather extremes throughout the year, with hot and humid summers and cold, snowy winters. The fluctuating climate can be a challenge for residents who prefer milder weather conditions, requiring them to adapt to seasonal changes and prepare for inclement weather. The city gets an average annual snowfall of about 3 feet. Snow removal and heat management are essential considerations for those living in the city, adding an extra layer of responsibility during extreme weather events.
4. Limited Nightlife Options
While East Providence offers a vibrant cultural scene, the city’s nightlife options may be relatively limited compared to larger metropolitan areas. Residents seeking a bustling nightlife with a wide array of entertainment venues and late-night activities may find themselves traveling to nearby cities for a more extensive nightlife experience. The quieter evenings in East Providence may not cater to those looking for a lively social scene after dark.
5. Limited Job Opportunities
While East Providence offers a convenient location for commuting to nearby cities, the job market within the city itself may be relatively limited in certain industries. Major employers in East Providence include CORE Business Technology, New England Construction, Starkweather and Shepley Insurance Brokerage, and East Side Clinical Laboratory. Residents seeking diverse career opportunities and professional growth may find themselves exploring job prospects in neighboring areas, potentially requiring longer commutes or relocation. The city’s job market landscape may pose challenges for individuals seeking specific career paths and employment diversity.
6. Noise Pollution
East Providence’s proximity to urban centers and major roadways can result in higher levels of noise pollution, especially in densely populated areas. Residents living near busy streets or commercial districts may experience increased noise levels from traffic, construction, and other urban activities. Managing noise pollution and finding peaceful residential areas may require careful consideration and strategic housing choices for those sensitive to environmental noise.