shopping

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“Buy now, pay later” plans have become a common option at checkout when shopping in store or online. Some plans, like the pay-in-four option, are appealing since they typically don’t charge interest or require a hard credit check that impacts credit scores.

These plans may seem like another payment method next to debit or credit, but they are installment loans that divide your purchase into several payments, with the first one typically due at checkout. The Consumer Financial Protection Bureau’s latest rule, as of May 2024, further clarifies that buy now, pay later lenders are credit card providers. They must provide some of the same legal protections and rights that apply to credit cards, such as the ability to get a refund after returning a product.

If you qualify for buy now, pay later, it can be easy to become overextended if you take on several plans, so using them frequently as a form of credit may be problematic.

Here’s how to use buy now, pay later the smart way.

Aim to use it strategically

A buy now, pay later plan can make sense to free up cash flow — if you know you’ll have the money to pay it off based on the terms. Review your budget to see whether a buy now, pay later purchase is truly affordable before accepting it. Given that they are loans, avoid reliance on these plans to cover basic necessities if possible. Frequent use of these plans to make ends meet could indicate that you need a financial strategy before an unexpected emergency or setback puts you in the red.

“They can look at their budget in general,” says Trent Graham, a program performance and quality assurance specialist at GreenPath, a nonprofit credit counseling agency. “What’s the cash coming in compared to the cash going out without use of credit? What are options or ideas on cutting back on expenses or increasing the income, one of the two, to balance that budget out?”

If possible, leave space in your budget for unforeseen expenses. Ideally, an emergency fund can cover unexpected costs that may arise to stay on track.

Avoid taking on too many plans at once

Buy now, pay later lenders may not report ongoing payments to major credit bureaus, so they might not have visibility into the number of plans you hold with different companies. As a result, it’s possible to become overextended.

If you do have several buy now, pay later plans open at the same time, keep on top of varying terms and due dates. Graham suggests staying organized with budgeting apps, a notebook, a calendar, or other ways to track and plan for these loans. Choose an option that works for you.

Pay on time

Buy now, pay later plans are a form of credit, but they don’t typically help build it. In some cases, in fact, they can harm your credit. Payment history usually isn’t reported to credit bureaus for buy now, pay later plans at this time, but missing a payment could have adverse ripple effects, depending on the lender.

Paying late can lead to fees or a frozen account that prevents purchases. Eventually, the debt can be charged off and may be turned over to a debt collector. These actions can be reported to credit bureaus and hurt your credit history. If you anticipate trouble paying on time, some lenders may allow changes to payment due dates.

Again, while it’s not recommended to juggle too many buy now, pay later plans at once, staying organized can keep them manageable. Among those who have opened credit cards, personal loans, auto loans, student loans or mortgages, customers who also have buy now, pay later plans were more than twice as likely to be delinquent on at least one of those products by 30 days or longer, according to a 2023 report by the CFPB.

Select your payment method thoughtfully

Some buy now, pay later lenders allow installments to be paid with a debit card, credit card or other options. Whether you’re required to sign up for automatic repayments or you select that option, choose the payment method thoughtfully based on your goals and the purchase amount.

Automatic payments with a debit card, for instance, could lead to overdraft or nonsufficient fund fees if there isn’t enough money to cover the payment. Paying with a credit card can avoid this issue, but if you carry a balance from buy now, pay later plans over several months, you could be paying interest charges. A large purchase could also impact your credit utilization ratio if it uses more than 30% of your available credit. It’s a key factor in credit scores.

Understand the terms

If you’re in a hurry to check out, It may be tempting to accept a buy now, pay later plan without reading the terms of the loan. But doing so could lead to unwanted surprises. The terms aren’t the same for all lenders, and they sometimes aren’t easy to find. Track them down on the lender’s website and read them carefully to know what to expect from the plan, including any potential fees.

Source: nerdwallet.com

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Mortgage rates were mostly higher versus last week, according to rate data collected by Bankrate. Average rates for 30-year fixed, 15-year fixed and jumbo mortgages moved higher, while 5/1 ARM rates decreased.

Inflation has cooled somewhat, but homebuyers are still feeling crunched by high prices and rates. At the close of the Fed meeting on June 12, policymakers chose to hold rates at current levels.. The next Fed meeting concludes July 31.

“With [the June 12] announcement, the Fed confirms its higher-for-longer position on interest rates,” says Dr. Selma Hepp, chief economist at CoreLogic. “But the stance is looking more untenable as more American households continue to pull back on spending. As more economic indicators begin to confirm this and unemployment begins to rise, the Fed will then look to cut rates. What’s not clear yet is when exactly the disinflation signs will be consistent enough for the first rate cut — we hope it’s still this year.”

Often, though, the decision to buy a home isn’t based on what’s happening in the economy — it’s more personal. Depending on your situation, it might make sense to take a higher rate now and refinance later. This way you can start building equity, rather than hoping for a future of more favorable rates and home prices that might not materialize.

Rates last updated July 5, 2024.

The rates listed above are Bankrate’s overnight average rates and are based on the assumptions indicated here. Actual rates displayed within the site may vary. This story has been reviewed by Suzanne De Vita. All rate data accurate as of Friday, July 5th, 2024 at 7:30 a.m. ET.

Today’s 30-year mortgage rate goes up, +0.08%

The average rate for a 30-year fixed mortgage for today is 7.08 percent, an increase of 8 basis points over the last seven days. Last month on the 5th, the average rate on a 30-year fixed mortgage was lower, at 7.05 percent.

At the current average rate, you’ll pay $670.68 per month in principal and interest for every $100,000 you borrow. That’s up $5.38 from what it would have been last week.

The 30-year mortgage is the most popular home loan, and it has a number of advantages. Among them:

  • Lower monthly payment: Compared to a shorter term, such as 15 years, the 30-year mortgage offers lower, more affordable payments spread over time.
  • Stability: With a 30-year fixed mortgage, you lock in a set principal and interest payment, making it easier to plan your housing expenses for the long term. Remember: Your monthly housing payment can still change if your homeowners insurance premiums and property taxes go up or, less likely, down.
  • Buying power: With lower payments, you might qualify for a larger loan amountor a more expensive home.
  • Flexibility: Lower monthly payments can free up some of your monthly budget for other goals, like building an emergency fund, contributing to retirement or college tuition, or saving for home repairs and maintenance.

Learn more: What is a fixed-rate mortgage and how does it work?

15-year mortgage rate moves up, +0.06%

The average rate for the benchmark 15-year fixed mortgage is 6.53 percent, up 6 basis points over the last seven days.

Monthly payments on a 15-year fixed mortgage at that rate will cost roughly $873 per $100,000 borrowed. That may squeeze your monthly budget than a 30-year mortgage would, but it comes with some big advantages: You’ll save thousands of dollars over the life of the loan in total interest paid and build equity much faster.

5/1 ARM moves down, -0.07%

The average rate on a 5/1 adjustable rate mortgage is 6.52 percent, falling 7 basis points from a week ago.

Adjustable-rate mortgages, or ARMs, are mortgage terms that come with a floating interest rate. To put it another way, the interest rate will change at regular intervals, unlike fixed-rate mortgages. These loan types are best for those who expect to sell or refinance before the first or second adjustment. Rates could be materially higher when the loan first adjusts, and thereafter.

While borrowers shunned ARMs during the pandemic days of super-low rates, this type of loan has made a comeback as mortgage rates have risen.

Monthly payments on a 5/1 ARM at 6.52 percent would cost about $633 for each $100,000 borrowed over the initial five years, but could ratchet higher by hundreds of dollars afterward, depending on the loan’s terms.

Current jumbo mortgage rate moves upward, +0.04%

Today’s average rate for jumbo mortgages is 7.14 percent, an increase of 4 basis points over the last week. Last month on the 5th, the average rate on a jumbo mortgage was higher at 7.16 percent.

At the current average rate, you’ll pay a combined $674.73 per month in principal and interest for every $100,000 you borrow. That’s an additional $2.70 per $100,000 compared to last week.

Mortgage refinance rates

Current 30 year mortgage refinance rate climbs, +0.12%

The average 30-year fixed-refinance rate is 7.11 percent, up 12 basis points compared with a week ago. A month ago, the average rate on a 30-year fixed refinance was lower at 7.08 percent.

At the current average rate, you’ll pay $672.71 per month in principal and interest for every $100,000 you borrow. That’s up $8.08 from what it would have been last week.

Where are mortgage rates going?

The rates on 30-year mortgages mostly mirror the 10-year Treasury yield, which changes with the market. The yield curve is a tool used by investors to predict where interest rates could be headed.

“The yield curve remains inverted — no surprise here,” says Ken Johnson of Florida Atlantic University. “Until the yield curve reverts to its normal upward slope, we will not see significant downward pressure on mortgage rates.”

Besides bond yields, the Federal Reserve’s key benchmark rate also has an impact. The Fed has held this rate at a 23-year high since July 2023.

If and when the Fed cuts interest rates depends on evolving economic data, such as inflation and the jobs market. While inflation has dropped from its height in 2022, it’s still well above the Fed’s target rate of 2 percent. Unemployment is still low, though in May it hit 4 percent for the first time since 2022.

“Much like that flight where departure keeps getting delayed 15 minutes at a time with no end in sight, the timetable for when the Fed begins to cut rates is equally uncertain,” says Greg McBride, CFA, Bankrate’s chief financial analyst.

While the Fed bases its decisions on rate changes due to broader economic factors, your rate is also affected by personal finances. Depending on your credit score, down payment, debts and income, you could be quoted a rate that’s higher or lower than the trend.

What current rates mean for you and your mortgage

Mortgage rates fluctuate daily, but it appears that, for now, they will remain above the historical lows of recent years. If you’re shopping for a mortgage, it might be wise to lock your rate when you find an affordable loan. If your house-hunt is taking longer than anticipated, revisit your budget so you’ll know exactly how much house you can afford at prevailing market rates.

Keep in mind: You could save thousands over the life of your mortgage by getting at least three loan offers, according to Freddie Mac research. You don’t have to stick with your bank or credit union, either. There are many types of mortgage lenders, including online-only and local, smaller shops.

“All too often, some [homebuyers] take the path of least resistance when seeking a mortgage, in part because the process of buying a home can be stressful, complicated and time-consuming,” says Mark Hamrick, senior economic analyst for Bankrate. “But when we’re talking about the potential of saving a lot of money, seeking the best deal on a mortgage has an excellent return on investment. Why leave that money on the table when all it takes is a bit more effort to shop around for the best rate, or lowest cost, on a mortgage?”

More on current mortgage rates

Methodology

Bankrate displays two sets of rate averages that are produced from two surveys we conduct: one daily (“overnight averages”) and the other weekly (“Bankrate Monitor averages”).

The rates on this page represent our overnight averages. For these averages, APRs and rates are based on no existing relationship or automatic payments.

Learn more about Bankrate’s rate averages, editorial guidelines and how we make money.

Source: bankrate.com

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Shopping for solar panels can be confusing, especially when trying to compare solar panel quotes. Solar panels are a big purchase ($23,885 on average, before tax credits), and one that will be with you for a long time. These seven steps can make comparing solar panel quotes easier.

1. Really know how much electricity you need

Solar installers might base their quotes on a measure of your average electricity use, but in the real world, your electricity needs are likely to fluctuate from month to month.

Look at your electric bill history, usually available online at your utility’s website. If your gas bill is combined with your electric bill, look at the portion of your bill that’s for electricity.

2. Review system sizes and designs

Sizing a solar system can be part science and part art, and solar companies are unlikely to arrive at exactly the same system size or number of solar panels for your home. For each quote, verify whether the estimated electricity production from your system meets or exceeds your monthly electricity needs. If system sizes vary widely in the quotes, ask the contractors about their sizing assumptions.​​

  • Do the quotes assume the same amount of available roof space?

  • Do the quotes assume you need to power an electric vehicle or heat pump heaters? You might want to size your system a bit larger now if you think you’ll need more panels later. 

  • Do the quotes assume you will generate extra power to sell back to the grid?

🤓Nerdy Tip

If your utility’s net metering export credit is low for unused electricity you send back to the grid, your savings could be less if your solar system is too large.

Also, pay attention to the system designs. Consider where the contractors propose placing the panels on your roof as well as locating the conduit to them. You’ll be looking at your solar system for a while.

3. Find each quote’s cost per watt

The main thing to compare on solar quotes is the cost per watt. Don’t compare the total costs, because solar contractors are likely to propose slightly different sizes and financing options for your system. To compare apples to apples, compare the cash purchase cost per watt.

Fortunately, this is simple to do:

  • First, find the cash price for each quote. Solar quotes can be full of loans, leases, tax incentives and rebates. Focus on the cash price before incentives.

  • Next, determine the cost per watt. To find the cost per watt, divide the total preincentives cash price by the proposed system size. For example, if the quote’s preincentives cash price is $35,000 and the proposed system size is 11 kilowatts (kW) or 11,000 watts, you’ll divide $35,000 by 11,000 to get the cost per watt: $3.18. 

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4. Look at the fine print on the financing options

There are four main ways to get solar:

  1. Buy a system for cash.

  2. Get a loan to buy the system.

  3. Lease the system instead of buying it. 

  4. Get a power purchase agreement (PPA) instead of leasing or buying. 

Not all contractors offer all of these options, and the terms will vary. If you’re opting for these, you’ll want to compare the terms:

  • Loans: There are various types of loans you can use to pay for a solar system. If the installer is offering to help you get a loan, find out who the lender is (often it’s a third party working with the installer). Be sure to compare each lender’s interest rates, monthly payments, repayment terms and fees. 

  • Leases and PPAs: In addition to comparing the monthly payments for leases and PPAs, see if your quotes include escalators, which act as scheduled increases in your monthly payment each year.

5. Compare the panel efficiency scores

Installers sell different brands of solar panels. Find out the exact makes and models in the quotes, because some solar panels are more efficient than others. The more efficient the solar panel, the less roof space it will take to generate the electricity you need. If you have ample roof space, you may not need to consider efficiency, so you can save money by getting less-efficient panels, which are cheaper. If your roof space is limited, it may make sense to spend a bit more.

6. Check to see which kind of inverter the installer is quoting

The inverter converts the sun’s rays from direct current (DC) to alternating current (AC) power that your home can use. Solar installers offer four main types of inverters.

  • String inverters, which connect multiple panels, are the cheapest type and they offer the simplest maintenance. They aren’t as shade tolerant, so they’re best if your roof has full sun all day.

  • Microinverters, which attach to each panel, are generally more expensive than string inverters. They are a good option if you have any shading because if one or two panels are shaded at any time, the other panels will continue producing. 

  • Power optimizers, which give a string inverter system a boost, are installed on the back of every solar panel. Adding expense to a string inverter system but cheaper than microinverters, they can provide a happy medium. 

  • Hybrid inverters, also more expensive than string inverters, convert and draw energy from a solar system and a battery and may be programmable, providing more operating options.

7. Compare the warranties

They’re not all the same. To ensure that the equipment in your system continues working as it should, compare the warranties in solar quotes.

  • Product warranties, which protect against manufacturer defects, typically offer 10 to 25 years of protection.

  • Power warranties or guarantees, which guarantee that your solar panels will maintain a specified percentage of electric power production during the warranty period, often run for 25 years.

  • Workmanship warranties, which protect against damage during the installation process (especially to your roof), may cover five to 25 years.

Getting help

Frequently asked questions

Source: nerdwallet.com

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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.

The thrill of Christmas is right around the corner.

This is the year you made a fresh decision to start living by a budget. You have been diligent in tracking your spending and set limits designed to help them save more and spend less.

You are desperate for a debt free Christmas because you can’t afford anything more.

I like to shop for Christmas throughout the year. But, not every year can I find steeply discounted gifts for everyone on my list. That is when I have to get serious and start using my Christmas budget worksheet.

However, a Christmas budget template will keep you on track and enjoying a merry holiday season.

You can get fancy and put your Christmas list in Excel spreadsheet or google sheets. Or you can print off a copy and write the old-fashion way. Completely personal preference and either one will get the job done.

This year, you are more determined than ever to make sure you stick to your Christmas budget and be debt free for the holidays.

And that starts with a Christmas budget template.

Why Use a Christmas Budget Template?

Just like with any advantages of budgeting, you want to make a plan for your money.

Then, you won’t be caught overspending and you can avoid the debt hangover in January.

If you want to keep your money goals, then you need to diligent in each of the holiday buying decisions you make.

Did you know most millionaires use a budget?

Now, you have a choice. Do you want a debt free Christmas by using some simple Christmas budget worksheet?

Before we drive into all of the fun and cute Christmas budget templates, you need to learn the critical areas to avoid and make sure you don’t blow your holiday budget.

Christmas Budget Categories

Christmas is a time of celebration, giving, and joy.

However, there are many expenses that come with the holiday season.

The most obvious expense to think about is probably gifts for friends and family members.

If you’re planning on buying a present for someone who’s hard to buy for, make sure they know what it is before purchasing it!

Another important factor in your Christmas budget plan should be your own personal spending habits – do not put all of your money into one category!

~ HUGE TIP ~
List your Christmas spending priorities, with #1 being the HIGHEST priority probably gifts.

Gifts

Christmas gifts are a lot more expensive this year, so you’ll want to be sure to have an idea of what people may need.

Make a list early on of who you’re buying for and try not to get carried away with the amount of money you spend.

You can also give homemade presents that are cheaper and more meaningful than store-bought ones.

Holiday Fun & Entertainment

Holiday fun and entertainment should be budgeted for.

Christmas plays and concerts, donuts and hot chocolate on Christmas Eve, visiting Santa are all things that can be budgeted to help make the holidays more enjoyable.

These activities tend to make you go over budget at Christmas because it is too hard to say no. So, set aside money for holiday fun and entertainment.

Holiday Food

Some of the budget categories to consider if you’re planning a Christmas dinner include appetizers, holiday food, and dessert.

And don’t forget the #1 priority of the gingerbread house!

Everyone entertains and hosts with their own style. Just make sure to budget for holiday food.

Planning for Holiday Decorations

If you want to get a head start on your holiday decorations, try buying them the week after Christmas. This is the best time to buy because you can find great deals and there are fewer out-of-stock items in stores.

Here are some tips for getting more affordable holiday decorations:

  1. Make your own decorations!
  2. Swap ornaments with friends!
  3. Buy pre-made decorations from Amazon
  4. Shop at thrift shops
  5. Put up three strands of lights instead of one
  6. Look through clearance racks
  7. Ask in Buy Nothing groups

Planning to Send Christmas Cards

The cost of sending Christmas cards is getting more and more expensive. Most families plan to spend over $100 on this alone.

Here are ideas to cut down on the cost:

  • Take family pictures yourself for no cost
  • Trim your Christmas card list
  • Find a cheaper place to have Christmas cards made
  • Save on prints and stamps if you’re planning to email pictures.

Budgeting for Hosting Christmas Party

Hosting may include drinks, appetizers, main courses, desserts, prizes for games, party favors, and gifts.

Pitching in by bringing a side dish, dessert, or their favorite beverage. All are great ideas to help lower your cost.

Tips on saving when going to a party

While we all love to show off, you can easily find ways to save money.

Pick a dish to share that is budget-friendly and still a hit (beans based dishes and casseroles are cheap to make).

For gifts, look at re-gifting before buying new ones. No one else will know that you never used that gift before.

Budgeting for Holiday Travel

Planning ahead for holiday travel can help you avoid unnecessary costs.

Make sure to set aside enough money for lodging, car rentals, and airfare so that your budget will be on track all season long.

If you cannot afford to travel this year, then don’t stretch yourself.

Other Christmas expenses

Holiday expenses can add up, so it’s important to budget for them. Here are six tips on how to have a more adorable holiday season:

– Field trips: going out in the city with family and friends after dark is one of the most fun parts of Christmas!

– Gift wrapping: this is an investment that will pay off in the long run. It’ll give you time to be creative, and you’ll end up with beautiful gifts at the end of it!

– Photos with Santa: maybe not everyone has a photo session during Christmas, but if someone does need a quick photo op, snapping a picture outside somewhere might be worth it.

– Keep Track of Previous Year’s Expenses: Your family is likely to have holiday expenses that vary. So, write them down to include in next year’s Christmas budget.

How To Not Blow Your Budget This Christmas

Maybe you are weary of actually making a Christmas budget because you have struggled with your budgeting process before. Don’t worry, you are completely normal and will get the hang of how to budget.

More often than not, new budget-conscious families create ambitious financial plans with lofty goals of paying off debt. They split their family income up into budgeting categories and were doing just great. That is until the holiday season came along.

That is when you realized you weren’t as diligent as you thought about setting aside Christmas money into a sinking fund. The agreed-upon gift budget categories from earlier in the years just won’t cut it.

That is where a Christmas budget worksheet becomes so helpful!

You must make decisions about your holiday plans. What did you want more? Expensive Christmas gifts with a ballooned credit card balance or a Christmas you can truly afford?

Now, let’s dive into some simple secrets to keeping a budget during the holidays.

1. Post-Christmas Situation

Before you start spending Christmas money, you need a clear vision of your priorities.

Remind yourself and your entire family about the reasons you had for getting on a budget in the first place. During our journey to becoming debt free, we were completely honest with our kids that we had greater priorities than spending money on the small stuff.

Once the excitement of Christmas passes, do you want to have regrets or a little more money in the bank?

2. Prioritize your Christmas List

Our Christmas budget worksheet will help to make this step much easier.

Start making a complete gift shopping list. Think of everyone on your list. Next, review it and prioritize the list according to your relationship with that person. Just like with personal finances, take care of immediate family first. Then, decide if you have enough in your Christmas budget for extended family, friends, neighbors, and co-workers.

Start at the bottom and eliminate any names that absolutely don’t need to be there. If you want to spend more money, then assign a portion of your budget to each of the remaining names.

It is okay to keep the gift-giving to those you are closest too! Your friends may be relieved they don’t need to reciprocate too!

3. Become Creative with Gift Giving

The first rule of thumb… gifts don’t have to be materialistic items.

You can become creative and don’t need to make 101 DIY Pinterest perfect gifts.

Think outside the box.

Experiences can make some of the best gifts ever! Find gifts that are experiences. Plus you get to spend some quality time together.

4. Stop Trying to Keep up With the Joneses’

The surest path to a blown budget is to start comparing what you’re doing with what someone else is doing. Remember, they’ll likely be crying come January.

You are going after a debt free Christmas.

One of the most slippery slopes when it comes to personal finances is trying to cover up your situation and keep the appearance of a lavish life. This lifestyle creep will destroy your values and the things you care the most about.

Make this Christmas simple and something you can afford and treasure for many years to come!

Related reading: How to Spend ZERO at Christmas in a Materialistic Society

5. Know When to Stop Shopping

If you are a thrifty person, then you probably start shopping for gifts year-round.

Those are great ways to be frugal and find terrific gifts for a fraction of the price.

However, you must be able to stop buying and put blinders on for the cheap things to pick up.

If you have spent your entire holiday budget before Thanksgiving and know you are a smart cookie to get it all out of the way, you must be able to avoid more shopping. Those Christmas sales will be tempting, but don’t get in the trap of thinking I can spend just a little bit more can’t I?

Bonus Rule – No impulse buying

Honestly, impulse buying will ruin your budget throughout the year. Around the holidays, it will become more pronounced because you want to make the season magical.

If someone gives you an unexpected gift, it doesn’t mean you have to run out and buy them something as well. A simple Thank you note will suffice.

One of the best money rules is to wait 24 hours before you buy it. The same applies to Christmas.

Free Christmas Budget Template

Here is your free Christmas Budget template.

It is very easy to use. More importantly, it will help you to make sure everything is accounted for.

Get your PDF copy of the Christmas budget worksheet by subscribing to our email list and gaining access to our FREE printables area.

Christmas budget spreadsheet google sheets

For those who want to save everything electronically, then here you go.

This Christmas budget spreadsheet google sheets can be edited to suit your style. Plus you will be able to take your spending year to year!

In our free printables area, you can download all of our budget spreadsheet version that works for you – Excel, Google Sheets, or Pages.

Time to Make Your Christmas gift template

Throughout this post, we have given you the framework to make sure you have a debt free Christmas. Now, it is time to put everything together.

Download your gift template and Christmas budget from the email form below.

Take time and reflect on what gifts you want to give. More importantly, make sure it is a Christmas that you can afford.

By keeping your goals in mind, you can survive the holidays within your budget (and maybe even under).

Enjoy our Christmas Budget Template!

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

Did the post resonate with you?

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

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

Source: moneybliss.org

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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.

In today’s world, getting ready for Christmas is an undertaking.

For some, it is months worth of planning. For others, they are flying by the seat of their pants at the very last moment possible. For me personally, I fall into between these two groups depending on the year.

The amount of Christmas money each year that is spent. You need a few tips and tricks up your sleeve to make sure you stay debt free!

To help you out, this post is created so you have all of the best money saving tips for Christmas. That way you can continue to build the life of your dreams.

You need to bookmark this page to come back and reference!

A budget means you are making a plan for your money.

It isn’t supposed to be limiting or feel restrictive. A budget takes account of what you have available to spend and make sure you are a good steward of your money.

With a Christmas budget, you are making sure you are allocating the money you have to spend on gifts, decorations, parties, food, and decor!

Nothing will be forgotten and you will stay debt free!

This is where the Christmas magic starts.

You need this Christmas worksheet to help you plan a holiday you can afford.

Download your copy and start planning a magical Christmas season!

Don’t skip this section!

You need to know these simple tips to make sure you are successful with your Christmas Budget.

Did you know… If you use a budget at Christmas, then you will find success all year around.

Frugality is one of the traits of those who reach financial independence or saving that first $1M first.

You don’t need to spend a ton of money to have an epic Christmas.

Learn these 10 money saving tricks for a frugal Christmas (and don’t forget the best part… no one will know you spend little or no money)!

Saving money for Christmas helps you spread out the financial cost hitting you at once. One of the best ways to do this is with sinking funds.

A debt free Christmas is what you truly desire!

Start saving today with one of these Christmas money saving challenge. Plus find great ways to save and keep the spirit in Christmas.

This is where you learn to save with a Christmas saving account. Money set aside for one purpose and one thing only – spending at Christmas time.

Plus find fabulous saving money tips on additional ways you can save each and every day!

Every penny saved adds up for your other money goals.

Have you ever experiences a debt free Christmas! Let me tell you… it is fabulous to not have the financial hangover come January.

Learn the tricks and secrets for a debt free Christmas.

Plus you can implement these money tips to use all year around.

In this post, you will find specific money saving challenges for Christmas!

These 52 week money saving challenges are super popular!

Choose from nine different amounts to start saving for today.

In all honesty, most of the amounts are higher than the average Christmas. But you can always save money for another purpose like retirement or vacation.

Prefer to save money on a monthly basis.

Then, check out one of these money saving challenges. Pay yourself first and stress less.

An income gives you the money for your expenses. However, there are times that you need extra cash for the fun things in life.

Christmas is one place where an extra $500-1000 will make a huge difference.

Learn how to make money for Christmas fast!

You don’t want to miss this money making ideas!

These are tested and proven ways to make money fast.

An extra $100-500 will help your Christmas budget extensively.

Plus many are super easy and don’t take much of your time. (Hint: many are ways you shop online anyway!)

Learn how to make 300 dollars fast and earn extra cash- just in time for Christmas.

This guide will cover the 35 ways of earning extra money in your free time, at home, or online.

Are you looking for ways how to make 500 dollars fast before Christmas?

If so, you’ve come to the right place. In this guide, you’ll learn how to earn money quickly and easily by doing things by simple tasks.

Learn how to turn 100 into 1000 through a series of easy steps.

This is exactly what you need to do to have money for Christmas gifts.

These simple, yet powerful steps will help you make more money and live a better life.

This is the FUN PART! Time to figure out where to start shopping and buy the perfect Christmas gift.

But, wait, before you head out and start your shopping, you need these Christmas spending tips.

They will probably change or at least re-think how you plan to spend money this season.

I have seen and heard from many of you that you are interested in saving money and spending less.

So, today, we are going to look ahead to how you can celebrate the holidays with less money, but still as festive.

This idea of a no gift Christmas may not be a fan favorite with everyone but you will save money and enjoy the holidays.

Whether you’re looking to switch things up or keep your budget real, you’ll find something here!

I’ll be honest. Christmas in America is quite excessive with the amount of time, money, and energy is spent. In addition, most people are stressed to the max making the Pinterest perfect holiday.

In this post, Money Bliss will cover how it is okay to SAY NO and spend ZERO this year.

You will end up with different Christmas traditions. That is okay because it will help you stay focused on your long term aspirations.

Hint: Expensive gifts are necessary. Gifts from the heart and made from love are priceless.

We live in a spending society. It is hard to be cross-culture when everyone around you spends like they have a rich sugar daddy (too many times, it is actually credit card debt).

In this post, learn the smart and savvy ways to spend less at Christmas and still give real gifts.

Photo Credit:
moneybliss.org

Don’t start Christmas shopping until you read this post.

You will be shocked to learn how simple these money saving tips are. But, we normally are looking through the rearview mirror at our spending habits.

Be prepared with these tips and you list BEFORE you start shopping!

This is the culmination of all of your efforts in planning, saving, and budgeting. Maybe you need a few last-minute gifts that won’t break the bank. Either way, Money Bliss has you covered.

Can you give the presents that your heart truly desires?

Here are the best Christmas gift ideas:

Looking for the perfect gift? Check out our list of the best consumable gifts!

This is a gift that can be used up one way or another.

Find ideas from clothing and home goods to drinks and food, we’ve got you covered.

Money gift ideas are perfect for any occasion!

Learn how to wrap money as a gift.

These are cute ideas for giving money. Always a huge hit!

Too many times, we are under the false assumption that material gifts are the only types of gifts to give.

This post will teach you why giving gift experiences are a great idea for gift giving.

Change your perspective and enjoy the season.

Honestly, it will change your whole concept of spending money year around and then you can truly consider what you want from life and how you spend your time.

You never want to utter the words… “I’m broke.”

It is embarrassing that you don’t have the money to spend on gifts (especially for the ones you love).

The good news alert here… You don’t have to spend a fortune on some really awesome gifts!

We want to give gifts that are thoughtful, stylish, and affordable.

These cheap Christmas gifts offer ideas plus are inexpensive to buy. 

More Christmas ideas than you can imagine! Plus delivered straight to your doorstep or the recipient!

The holidays are coming up, which means it’s time to start thinking about what gifts you’re going to give your coworkers. But with a tight budget and limited resources, finding the perfect gift that won’t break the bank can be tough.

To help, we’ve put together an extensive list of 25 inexpensive gifts that your coworkers will actually like!

Kids love to receive gifts at Christmas!

This list will make sure you spend your hard-earned money on practical gift ideas that the toddlers, children, preteens, and teens will love.

Looking for the perfect gift for a young person who has everything?

Check out our list of 35 cool gifts for kids who have everything!  These creative gifts include unique toys and non-toy ideas.

From toys to clothing to experiences, there’s something for everyone on this list.

Have you noticed a trend while reading this ultimate guide to spending less at Christmas? There are so many ways to save money and you need that when it comes to kids.

These gift ideas focus on hands-on learning – no screen time needed.

Oh, this list is totally KID APPROVED!

Made with love by my kids!

Parents, forward this to your family who loves to spoil your kids!

I wish I had the courage and strength to say something when my kids were younger. Instead, I have memories of trying to manage and clean up too many toys than they ever needed.

These are great ideas that will create memories for children, parents, and the gift-giver too!

How will You Spend Your Christmas Money Saved?

Instead of worrying about how much money is appropriate for a Christmas gift, you learned you to spend your Christmas money that you set aside.

Don’t let the spirit of Christmas ruin your personal finances!

This is the time of year to prove to yourself that you can implement a few money management tricks and be very successful.

Just like with personal finances, by making a plan for your Christmas money ends with better results than living paycheck to paycheck.

Enjoy the season knowing you can stay debt free and keep reaching your money goals!

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

Did the post resonate with you?

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

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

Source: moneybliss.org

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Little Rock, Arkansas, is a city rich in history and culture, with each of its neighborhoods offering a unique charm and distinct lifestyle. The city has so many hidden gems, vibrant neighborhoods, and stunning seasons that it’s no wonder about 203,000 residents live here. In Little Rock, you’ll find that the average rent for a one-bedroom apartment is $868. If you’re looking to rent an apartment in Little Rock, you’re in the right place. We’ve gathered a list of the 7 most expensive Little Rock neighborhoods to rent an apartment in this year.

7 Most Expensive Neighborhoods in Little Rock

From historic luxury in the Heights to the midcentury charm of Boyle Park, there are plenty of exciting neighborhoods in Little Rock. Whether you’re looking for a luxurious home to rent in Little Rock or wondering where to live in the city, we’ve got you covered.

1. Heights
2. Capitol View – Stifft Station
3. Rock Creek
4. Downtown
5. River Market
6. Boyle Park
7. Parkway Place

Let’s jump in and see what these neighborhoods have to offer.

1. Heights

Average 1-bedroom rent: $1,217
Apartments for rent in Heights

Heights is the most expensive neighborhood in Little Rock, as the average rent for a one-bedroom unit is $1,217. This upscale area stands out for its picturesque, tree-lined streets and historic charm, boasting beautifully preserved early 20th-century homes alongside elegant modern residences. The Heights is known for its boutique shopping and dining, with local favorites like Heights Taco & Tamale Co., offering a unique twist on Southern cuisine, and Eggshells Kitchen Co., a specialty kitchen store that attracts cooking enthusiasts. Residents enjoy the serene Allsopp Park, a local gem with hiking trails, picnic areas, and tennis courts, providing ample outdoor recreation within walking distance. The Heights also features a vibrant social scene with art galleries, local coffee shops like Boulevard Bread Company. Getting around is convenient, with well-maintained sidewalks promoting a walkable lifestyle, and the neighborhood’s proximity to downtown allows for quick commutes by car or public transit.

2. Capitol View – Stifft Station

Average 1-bedroom rent: $975
Apartments for rent in Capitol View – Stifft Station

Capitol View – Stifft Station in Little Rock is a distinctive neighborhood known for its eclectic charm and historic character. The streets are lined with a mix of Craftsman bungalows and early 20th-century homes, creating a picturesque and inviting atmosphere. A standout attraction is the White Water Tavern, a beloved local music venue that hosts a variety of live performances and community events. Residents also enjoy the neighborhood’s proximity to the Arkansas River Trail, offering scenic routes for biking and walking. Public transportation is convenient, with several Rock Region Metro bus routes providing easy access to downtown and other parts of the city.

3. Rock Creek

Average 1-bedroom rent: $960
Apartments for rent in Rock Creek

With an average one-bedroom rent of $960, Rock Creek is the third most expensive neighborhood in Little Rock. The area is distinguished by its lush, wooded landscapes and well-maintained residential streets, creating a serene suburban atmosphere. The neighborhood is home to the beautiful Rock Creek Park, which offers extensive walking trails, playgrounds, and picnic areas, making it a favorite spot for families and outdoor enthusiasts. A highlight of the community is the Chenal Country Club, providing residents with a premier golfing experience and various social activities. Rock Creek boasts a variety of local eateries, like Maddie’s Place, where residents can enjoy Southern cuisine in a cozy setting. Getting around Rock Creek is convenient with easy access to major roads like Chenal Parkway, facilitating quick commutes to other parts of Little Rock.

4. Downtown

Average 1-bedroom rent: $922
Apartments for rent in Downtown

Downtown is the next most expensive neighborhood in Little Rock. The neighborhood is characterized by a mix of beautifully restored historic buildings and sleek, contemporary developments, creating a visually engaging streetscape. Key attractions include the Arkansas Museum of Fine Art, which offers world-class exhibitions and performances, and the Historic Arkansas Museum, showcasing the state’s rich heritage. Residents and visitors enjoy the Riverfront Park, a scenic area along the Arkansas River with trails, sculptures, and the iconic Junction Bridge pedestrian crossing. Getting around downtown is convenient, with the Rock Region METRO streetcar system offering easy access to key areas, along with well-maintained bike lanes and pedestrian-friendly streets encouraging walking and cycling.

5. River Market

Average 1-bedroom rent: $922
Apartments for rent in River Market

The River Market neighborhood of Little Rock stands out with its bustling streets and vibrant atmosphere, characterized by a mix of modern apartments and historic buildings. The area is home to the River Market Pavilion, a hub for local farmers and artisans offering fresh produce, handmade crafts, and delicious street food. Cultural attractions such as the Arkansas Museum of Discovery provide interactive exhibits that engage both children and adults, while the nearby Clinton Presidential Center offers insights into American history and politics. Residents and visitors enjoy scenic walks along the Arkansas River Trail, which provides stunning views of the river and skyline. Transportation within River Market is convenient, with the Rock Region METRO streetcars offering a charming and efficient way to navigate the neighborhood and connect to other parts of the city. The lively nightlife, art galleries, and annual events contribute to the unique appeal of the River Market, making it a standout neighborhood in Little Rock.

6. Boyle Park

Average 1-bedroom rent: $915
Apartments for rent in Boyle Park

Next up is Boyle Park, the sixth most expensive neighborhood in Little Rock. The centerpiece of the area is Boyle Park itself, a sprawling urban oasis featuring winding trails, picnic spots, and a serene creek that attracts nature lovers and families alike. The neighborhood is characterized by charming mid-century homes and cozy bungalows, giving it a welcoming and nostalgic feel. Local attractions include the War Memorial Stadium and the Little Rock Zoo, both just a short drive away, offering entertainment and recreational activities. Residents primarily get around by car, but the well-maintained bike lanes and pedestrian-friendly streets also encourage walking and cycling.

7. Parkway Place

Average 1-bedroom rent: $908
Apartments for rent in Parkway Place

Located west of downtown, Parkway Place is the next neighborhood on our list. One standout feature is the neighborhood’s proximity to the beautiful Boyle Park, where residents can enjoy hiking trails, picnicking areas, and a scenic creek. The community is also home to War Memorial Stadium, a historic venue hosting local sports events and concerts, adding a lively atmosphere to the area. Local dining gems like Trio’s Restaurant offer residents gourmet meals with a focus on fresh, seasonal ingredients. Getting around Parkway Place is convenient, with easy access to the Interstate 630, providing quick routes to downtown and other parts of the city. Additionally, the neighborhood’s pedestrian-friendly design and bike lanes make it easy for residents to enjoy a walk or bike ride to nearby attractions and amenities.

Methodology: Whether a neighborhood has an average 1-bedroom rent price over the city’s average. Average rental data from Rent.com in June 2024.

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The average 30-year fixed mortgage interest rate is 7.00% today, down -0.02% compared to one week ago. The average rate for a 15-year fixed mortgage is 6.46%, which is an increase of 0.03% since last week. For a look at mortgage rate movement, see the chart below.

The Federal Reserve has been holding off on interest rate cuts because inflation has been slow to improve. While experts still expect mortgage rates to gradually move lower in the coming months, housing market predictions can always change in response to economic data, geopolitical events and more.

Today’s average mortgage rates


Today’s average mortgage rates on Jul. 04, 2024, compared with one week ago. We use rate data collected by Bankrate as reported by lenders across the US.

Lower mortgage rates make buying a home more affordable. Experts recommend shopping around with different mortgage lenders to find the best deal. Enter your information below to get a custom quote from one of CNET’s partner lenders.

About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you can use when comparing multiple mortgage rates.

How can I choose a mortgage term?

Each mortgage has a loan term, or payment schedule. The most common mortgage terms are 15 and 30 years, although 10-, 20- and 40-year mortgages also exist. With a fixed-rate mortgage, the interest rate is set for the duration of the loan, offering stability. With an adjustable-rate mortgage, the interest rate is only fixed for a certain amount of time (commonly five, seven or 10 years), after which the rate adjusts annually based on the market. Fixed-rate mortgages are a better option if you plan to live in a home in the long term, but adjustable-rate mortgages may offer lower interest rates upfront.

30-year fixed-rate mortgages

The average 30-year fixed mortgage interest rate is 7.00% today. A 30-year fixed mortgage is the most common loan term. It will often have a higher interest rate than a 15-year mortgage, but you’ll have a lower monthly payment.

15-year fixed-rate mortgages

Today, the average rate for a 15-year, fixed mortgage is 6.46%. Though you’ll have a bigger monthly payment than a 30-year fixed mortgage, a 15-year loan usually comes with a lower interest rate, allowing you to pay less interest in the long run and pay off your mortgage sooner.

5/1 adjustable-rate mortgages

A 5/1 adjustable-rate mortgage has an average rate of 6.66% today. You’ll typically get a lower introductory interest rate with a 5/1 ARM in the first five years of the mortgage. But you could pay more after that period, depending on how the rate adjusts annually. If you plan to sell or refinance your house within five years, an ARM could be a good option.

Why are mortgage rates so high right now?

At the start of the pandemic, mortgage rates were near record lows, around 3%. That all changed as inflation began to surge and the Federal Reserve kicked off a series of aggressive interest rate hikes starting in March 2022 to slow the economy, which indirectly drove up mortgage rates.

Now, more than two years later, mortgage rates are still around 7%. Over the last several months, mortgage rates have fluctuated in response to economic data and investors’ expectations as to when the Fed will start to lower rates.

Today’s homebuyers have less room in their budget to afford the cost of a home due to elevated mortgage rates and steep home prices. Limited housing inventory and low wage growth are also contributing to the affordability crisis and keeping mortgage demand down.

Will mortgage rates drop this year?

Most experts predict mortgage rates will fall below 7% in the coming months. However, a sustained downward trend will depend on several factors, including upcoming inflation and labor data.

The Fed hasn’t hiked interest rates in almost a year, but an actual rate cut doesn’t appear imminent. Some experts say the first cut could come as early as July, though it’s more likely we see the Fed lower rates in September or November.

“If the Fed makes any moves later this year, the signal would be sufficient for the mortgage market, and mortgage rates would start falling,” said Selma Hepp, chief economist at CoreLogic. “In that case, we could see the mortgage rates around 6.5% at the year-end.”

One thing is for sure: Homebuyers won’t see lower mortgage overnight, and a return to the 2-3% mortgage rates from just a few years ago is unlikely.

Here’s a look at where some major housing authorities expect average mortgage rates to land.

Calculate your monthly mortgage payment

Getting a mortgage should always depend on your financial situation and long-term goals. The most important thing is to make a budget and try to stay within your means. CNET’s mortgage calculator below can help homebuyers prepare for monthly mortgage payments.

Where can I find the best mortgage rates?

Though mortgage rates and home prices are high, the housing market won’t be unaffordable forever. It’s always a good time to save for a down payment and improve your credit score to help you secure a competitive mortgage rate when the time is right.

  1. Save for a bigger down payment: Though a 20% down payment isn’t required, a larger upfront payment means taking out a smaller mortgage, which will help you save in interest.
  2. Boost your credit score: You can qualify for a conventional mortgage with a 620 credit score, but a higher score of at least 740 will get you better rates.
  3. Pay off debt: Experts recommend a debt-to-income ratio of 36% or less to help you qualify for the best rates. Not carrying other debt will put you in a better position to handle your monthly payments.
  4. Research loans and assistance: Government-sponsored loans have more flexible borrowing requirements than conventional loans. Some government-sponsored or private programs can also help with your down payment and closing costs.
  5. Shop around for lenders: Researching and comparing multiple loan offers from different lenders can help you secure the lowest mortgage rate for your situation.

Source: cnet.com

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Learn to manage your money wisely with these straightforward tips to cut spending and budget better. Despite higher incomes, many still struggle with financial challenges and living paycheck to paycheck. Take control of your finances starting today to achieve a more feasible budget.

1. Prioritize Essential Bills and Expenses

Image Credit: DragonImages.

Identify which expenses are truly essential for your livelihood. Prioritize these over non-essential expenses like entertainment or eating out to ensure financial stability and mindful spending habits.

To learn more: What is Zero-Based Budgeting and How Does It Work?

2. Participate in a No Spend Challenge

Image Credit: Shopping King Louie.

Joining a No Spend Challenge not only helps you save money rapidly but also increases awareness of your spending habits, leading to a minimalist lifestyle. Start with a no spend month to jumpstart your frugal living journey.

To learn more: No Spend Challenge: The #1 Fastest Way To Save Money

3. Reduce your Housing Expenses

Image Credit: IJeab.

Housing costs can burden your budget significantly. Explore options like downsizing, negotiating rent, or getting roommates to lower expenses and free up funds for other financial goals.

To learn more: Get Paid to House Sit and Find Lucrative Housesitting Gigs Easily

4. Be Cognizant of Bad Spending Habits

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Become aware of detrimental spending habits like impulse purchases or overspending on conveniences. Break the cycle by making conscious choices and embracing mindful spending practices for long-term savings.

To learn more: 12 Things I Quit Buying to Save Money

5. Skip the Expensive Coffee Shop

Image Credit: Onurdongel from Getty Images Signature.

Foregoing daily coffee shop visits can yield substantial savings. Just this change alone could save you over $600 a year, demonstrating the impact of small adjustments on your budget.

To find more: 175+ Simple and Easy Frugal Living Tips to Save Money

6. Use Public Transportation to Save Money

Image Credit: RossHelen.

Opt for cost-effective alternatives to owning a car, such as public transportation, cycling, or carpooling. By reducing transportation expenses, you can allocate more funds towards savings and financial goals.

To understand further: Is a Car an Asset or Liability?

7. Take Advantage of Free or Cheap Entertainment

Image Credit: Halfpoint.

Embrace free or inexpensive entertainment options to avoid draining your budget. Enjoy activities that don’t require spending money, allowing you to have fun without compromising your financial health.

To learn more: 105 Fun Things To Do With No Money

8. Cut Back on Grocery Spending

Image Credit: Konstantin Pelikh.

Employ strategies like meal planning, cooking at home, and using discounts to slash grocery expenses. By being mindful of your food budget, you can save money while maintaining a nutritious diet.

To learn more: 100+ Frugal Meals for When You’re Broke or on a Budget

9. Stick to Your Shopping List

Image Credit: Seventyfour from Getty Images.

Plan purchases in advance to resist impulse buying. Sticking to your shopping list helps you stay focused on essentials, preventing unnecessary spending and promoting responsible budget management.

10. Start Meal Planning

Image Credit: Pixelshot.

Meal planning is a practical approach to budget-friendly eating. By organizing your meals ahead of time, you can minimize grocery costs and reduce food waste, ensuring efficient use of your food budget.

To learn more: Become a Pro at How to Meal Plan for a Month

11. Stockpile Goods That Will Stay Stocked Up Long Term

Image Credit: Panida Wijitpanya from Getty
Images.

Strategically stockpile essential items to save money and ensure preparedness. Focus on purchasing long-lasting goods in moderate quantities to maximize savings without cluttering your living space. Only buy what you plan to use when it is on sale!

To learn more: What is the Best Cheap Food to Buy When Broke?

12. Avoid Impulse Purchases

Image Credit: Pixelshot.

By resisting impulsive buying, you create opportunities for significant savings over time. Prioritize needs over wants to safeguard your budget and maintain financial stability, especially during tight financial situations.

Find more ideas to Cut Spending

Image Credit: Georgijevic from Getty Images Signature.

Discover practical tips to cut spending & budget wisely. Start saving money effortlessly with these 12 straightforward strategies!

To learn more: 20+ Tips to Cut Spending when Budgeting on a Low Income

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

Did the post resonate with you?

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

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

Source: moneybliss.org

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The capital city of North Carolina, Raleigh, has a lot to offer residents. If you’re looking to rent an apartment in Raleigh, the average rent for a one-bedroom apartment is $1,384. If you’re curious about Raleigh’s most expensive neighborhoods, then you’re in the right place. ApartmentGuide has gathered a list of the top neighborhoods to rent an apartment in this year, including the luxurious Brier Creek Country Club and the picturesque Cameron Village. Read on to find out what areas made the list.

13 Most Expensive Neighborhoods in Raleigh

From the lush greenery of Oberlin Village to the galleries of Moore Square, there are plenty of exciting neighborhoods in Raleigh. Whether you’re looking for a luxurious home to rent in Raleigh or wondering where to live in the city, we’ve got you covered.

1. Oberlin Village
2. Fayetteville Street District
3. Hedingham
4. Brier Creek Country Club
5. Cameron Village
6. University Park
7. Wade
8. Glenwood
9. Warehouse District
10. Wilmont
11. Downtown Raleigh
12. Central Raleigh
13. Moore Square

Let’s jump in and see what these neighborhoods have to offer.

1. Oberlin Village

Average 1-bedroom rent: $2,255
Apartments for rent in Oberlin Village

Oberlin Village is the most expensive neighborhood in Raleigh, as the average rent for a one-bedroom unit is $2,255. This unique and historically rich neighborhood is characterized by its charming mix of well-preserved historic homes and modern developments. The area stands out with its beautiful tree-lined streets and a strong sense of community, evident in landmarks like the historic Oberlin Cemetery and the restored Oberlin Baptist Church. Residents enjoy easy access to attractions such as Jaycee Park, which offers playgrounds, sports fields, and a community center, fostering an active and connected lifestyle. The vibrant arts scene is highlighted by local galleries and events at the nearby Cameron Village, providing cultural enrichment. Getting around Oberlin Village is convenient, with bike-friendly streets and proximity to the Raleigh Greenway trails, encouraging outdoor activities and sustainable transportation. Additionally, the neighborhood’s location near Hillsborough Street and the NC State University campus adds a youthful and dynamic atmosphere, making Oberlin Village a distinctive and appealing place to live.

2. Fayetteville Street District

Average 1-bedroom rent: $2,100
Apartments for rent in Fayetteville Street District

The Fayetteville Street District in Raleigh stands out as the city’s vibrant core, known for its blend of historic and contemporary architecture lining the iconic, tree-shaded Fayetteville Street. The neighborhood is a hub of activity, featuring landmarks like the Martin Marietta Center for the Performing Arts and the North Carolina State Capitol, which attract residents and visitors alike. Cultural attractions such as Artspace, a thriving visual arts center housed in a historic building, and the Raleigh City Museum enrich the local cultural scene. The area’s bustling atmosphere is complemented by a variety of locally-owned restaurants and cafes, such as Beasley’s Chicken + Honey, offering residents unique dining experiences. Getting around is easy, with the GoRaleigh bus system providing extensive routes and the walkable nature of the district encouraging pedestrian exploration. Events like the annual Hopscotch Music Festival and Downtown Raleigh Food Truck Rodeo make the Fayetteville Street District a lively and engaging neighborhood, distinct in its combination of history, culture, and urban energy.

3. Hedingham

Average 1-bedroom rent: $2,091
Apartments for rent in Hedingham

With an average one-bedroom rent of $2,091, Hedingham is the third most expensive neighborhood in Raleigh. The neighborhood is distinguished by its scenic golf course and resort-like amenities. The area features beautifully landscaped streets and homes nestled around the Hedingham Golf Club, offering residents picturesque views and a luxurious living experience. Attractions such as the Neuse River Greenway Trail provide ample opportunities for outdoor activities like biking, hiking, and kayaking, promoting an active lifestyle. Residents also enjoy access to the community’s fitness center, swimming pools, and tennis courts, fostering a sense of community and wellness. Getting around Hedingham is convenient with well-maintained roads and close proximity to major highways like I-540, ensuring easy commutes to other parts of Raleigh.

4. Brier Creek Country Club

Average 1-bedroom rent: $2,071
Apartments for rent in Brier Creek Country Club

Brier Creek Country Club is the next most expensive neighborhood in Raleigh. The neighborhood stands out for its luxurious amenities and meticulously designed landscape, centered around the prestigious Brier Creek Country Club golf course. This exclusive community features elegant homes with beautiful architectural details, surrounded by lush greenery and scenic views. Residents enjoy top-tier amenities, including a grand clubhouse, fine dining at The Grille Room, and a state-of-the-art fitness center. The neighborhood also boasts extensive recreational facilities such as tennis courts, swimming pools, and walking trails, catering to a range of active lifestyles. Conveniently located near Raleigh-Durham International Airport and major highways like I-540 and US-70, Brier Creek offers easy access to the broader Triangle area.

5. Cameron Village

Average 1-bedroom rent: $2,050
Apartments for rent in Cameron Village

Cameron Village in Raleigh is renowned for its vibrant mix of historic charm and modern amenities, creating a unique living experience. The neighborhood is home to the iconic Village District Shopping Center, a local favorite offering a variety of boutique shops, upscale dining options, and community events. Architectural diversity is evident, with beautifully preserved mid-century homes alongside contemporary apartments, providing a range of housing styles. The nearby Fletcher Park, with its lush gardens, walking trails, and playgrounds, offers residents a serene green space for relaxation and recreation. Public transportation is easily accessible, with several bus routes connecting Cameron Village to downtown Raleigh and other key areas.

6. University Park

Average 1-bedroom rent: $1,976
Apartments for rent in University Park

Next up is University Park, the sixth most expensive neighborhood in Raleigh. Located near North Carolina State University, the area buzzes with academic energy and offers residents a mix of collegiate events and cultural activities. The neighborhood’s centerpiece, Pullen Park, features a historic carousel, train rides, and beautiful gardens, making it a favorite spot for families and outdoor enthusiasts. University Park is also home to the vibrant Hillsborough Street corridor, where unique eateries like Irregardless Café and local coffee shops like Jubala Coffee attract both residents and visitors. The neighborhood’s walkability and bike-friendly streets, along with convenient access to public transit options like the Wolfline and GoRaleigh buses, make getting around easy.

7. Wade

Average 1-bedroom rent: $1,950
Apartments for rent in Wade

The Wade neighborhood in Raleigh stands out for its blend of historic charm and modern conveniences. Known for its beautiful tree-lined streets and well-preserved early 20th-century homes, Wade offers a picturesque setting that is unique to Raleigh. Residents enjoy easy access to the nearby Pullen Park, one of the oldest amusement parks in the U.S., featuring a historic carousel, playgrounds, and boating. The neighborhood is also close to the North Carolina Museum of Art, which offers extensive galleries and outdoor trails filled with sculptures. Local eateries like Neuse River Brewing offer residents craft beers and gourmet dining in a cozy setting. Wade’s central location ensures convenient transportation options, with easy access to major roads and public transit, making commutes to downtown Raleigh and other areas seamless.

8. Glenwood

Average 1-bedroom rent: $1,929
Apartments for rent in Glenwood

Glenwood takes the eighth spot on our list of most expensive neighborhoods in Raleigh. It is renowned for the bustling Glenwood Avenue, which is lined with an array of independent shops, art galleries, and locally-owned restaurants like Layered Criossanterie known for its breakfast dishes. The neighborhood’s rich history is evident in its well-preserved early 20th-century homes, adding a unique architectural character to the area. Residents enjoy the nearby Fred Fletcher Park, offering lush green spaces, walking trails, and sports facilities for outdoor activities. The Glenwood South nightlife district adds to the appeal, with venues such as C. Grace, a speakeasy-style jazz club, providing entertainment options. Convenient public transportation and pedestrian-friendly streets make it easy for residents to navigate the neighborhood and connect with the broader Raleigh community.

9. Warehouse District

Average 1-bedroom rent: $1,752
Apartments for rent in Warehouse District

The Warehouse District in Raleigh stands out for its dynamic blend of historic industrial buildings and contemporary urban culture. This neighborhood is a hub for creativity, featuring unique attractions like CAM Raleigh, a contemporary art museum housed in a converted warehouse, and Videri Chocolate Factory, where visitors can tour the artisanal chocolate-making process. The area is dotted with innovative eateries such as Morgan Street Food Hall, which offers a variety of local food vendors in a lively, communal setting. Nightlife thrives here, with venues like The Pour House Music Hall & Record Shop providing a space for live music and local bands. Getting around is easy with the R-Line, a free downtown circulator bus that connects the Warehouse District to other key areas of Raleigh.

10. Wilmont

Average 1-bedroom rent: $1,750
Apartments for rent in Wilmont

The tenth most expensive neighborhood in Raleigh is Wilmont. Known for its tree-lined streets and charming mid-century homes, Wilmont offers a peaceful retreat while being just a short distance from the bustling Hillsborough Street corridor. Residents have easy access to the Raleigh Little Theatre and Rose Garden, a cultural gem featuring performances and beautifully landscaped gardens. The neighborhood’s close-knit community is enhanced by local favorites like Neuse River Brewing Company, offering craft beers and a welcoming environment. Transportation is convenient with well-connected roads and nearby public transit options, making it easy to commute to downtown Raleigh and other areas.

11. Downtown Raleigh

Average 1-bedroom rent: $1,732
Apartments for rent in Downtown Raleigh

Number 11 on our list is Downtown Raleigh. It is home to landmarks like the North Carolina State Capitol and the Martin Marietta Center for the Performing Arts, which host a variety of cultural events and performances. The area is known for its thriving arts scene, exemplified by local galleries and the Contemporary Art Museum (CAM Raleigh). Residents enjoy an array of dining options, such as Bida Manda, which offers authentic Laotian cuisine. The neighborhood is highly walkable and bike-friendly, with easy access to public transportation, including the GoRaleigh bus system and the new Raleigh Union Station.

12. Central Raleigh

Average 1-bedroom rent: $1,732
Apartments for rent in Central Raleigh

Taking the 12th spot is Central Raleigh. It features beautifully preserved historic homes alongside contemporary residences, creating a unique blend of old and new. Attractions like the North Carolina Museum of Natural Sciences and the North Carolina Museum of History offer enriching experiences and educational opportunities. Central Raleigh’s culinary scene is diverse, with local favorites such as Poole’s Diner, known for its upscale comfort food, and the culinary innovation at Second Empire Restaurant and Tavern. The neighborhood is well-connected by the GoRaleigh bus system and features bike-friendly streets, making it easy for residents to navigate the area.

13. Moore Square

Average 1-bedroom rent: $1,732
Apartments for rent in Moore Square

Moore Square the final neighborhood on our list. At its heart is Moore Square Park, a historic green space that hosts numerous community events, concerts, and farmers’ markets. The area is also home to the City Market, a charming collection of local shops and eateries, including the popular Big Ed’s Restaurant, known for its hearty Southern breakfasts. Art lovers can visit Artspace, a visual arts center housed in a historic building, offering galleries, artist studios, and educational programs. The neighborhood’s walkability is enhanced by well-maintained sidewalks and access to public transportation, such as the GoRaleigh bus service, making it easy for residents to navigate the city.

Methodology: Whether a neighborhood has an average 1-bedroom rent price over the city’s average. Average rental data from Rent.com in June 2024.