15 Financial New Year’s Resolutions To Make In 2021

2020 is ending (finally) and it is time to start setting resolutions for 2021. Why not try to improve your financial health by following ones, or more, of these financial New Year’s resolutions?2020 is ending (finally) and it is time to start setting resolutions for 2021. Why not try to improve your financial health by following ones, or more, of these financial New Year’s resolutions?

The post 15 Financial New Year’s Resolutions To Make In 2021 appeared first on Money Under 30.

Source: moneyunder30.com

Don’t Get Tricked: Identity Protection Tips You Need

A woman sits on a gray couch with a laptop on her lap, drinking a cup of coffee

The weather is turning, fall is in the air, and Halloween is around the corner—which means it’s National Cybersecurity Awareness Month. How can you ensure October is full of treats while not falling for any scammers’ tricks? By arming yourself with these identity protection tips.

Every American should understand the basics of identity theft protection. According to the most recent report by the Bureau of Justice Statistics, 10% of people 16 and older have been the victim of identity theft. That’s why we’re encouraging people to educate themselves on identity protection tips this autumn. After all, there’s nothing quite as scary as identity fraud!

Here are some identity theft tricks to watch out for and identity security treats to take advantage of.

Trick: Using Your Data to Open New Accounts

According to the FTC, credit card fraud—including opening new credit card accounts—was the most commonly reported form of identity theft in 2019. Thieves can rack up hundreds of dollars’ worth of bills before you know it happened.

Here are a few things to keep in mind when it comes to your cybersecurity to avoid your data being used to open new accounts in your name:

  • Never use the same password across multiple accounts. Switch your passwords up.
  • Never use a password that’s easy to guess. This includes passwords that include your birthday, first or last name, or address.
  • Use passwords that are random combinations of numbers, letters, and symbols.
  • Enable two-factor authentication whenever it’s offered.
  • Don’t share or write down your passwords.
  • Never click on unknown email links or pop-ups on websites.
  • Make sure websites are secure before entering your payment information.
  • Never connect to public Wi-Fi that isn’t secure.
  • Never walk away from your laptop in public places.
  • Enable firewall protection.
  • Monitor your accounts and credit reports for unusual activity.

Treat: Check Your Credit Reports

Identity theft protection starts by being proactive and regularly monitoring your information for suspicious activity. That includes monitoring your credit report.

Did you know that you’re entitled to one free copy of your credit report each year from all three credit reporting agencies? In honor of National Cybersecurity Awareness Month, make October the month that you request your reports and go over them with a fine-toothed comb. Make sure you recognize all the open accounts under your name.

[Note: Through April 2021, you can review your credit reports weekly.]

An added bonus of checking your reports early in the month is that you can give your credit a good once-over before the upcoming holiday shopping season. Unexplained dips in your credit score could be a sign that something is wrong.

When you request your free credit report from the credit bureaus, your report does not come with your credit score—you have to request that separately. Sign up for ExtraCredit to get 28 of your FICO® scores and your credit reports from all three credit bureaus. You’ll also get account monitoring and $1 million identity theft insurance.

Protect Your Identity with ExtraCredit

Trick: Charity Fraud

October also happens to be Breast Cancer Awareness Month, and everywhere you look, pink is on display. With so much national attention on breast cancer, it’s easy to fall for scams that claim to be legitimate charities.

Consumers should also be on the lookout for phony COVID-19 related scams this fall and winter. For example, watch out for fake charities that pretend to provide COVID relief to groups or families but are simply stealing money.

Even worse than handing over money to these heartless fraudsters is that you may have handed over your credit card numbers or other personally identifiable information in the process.

Treat: Know Your Worthy Causes

Before donating to a charitable cause, do your homework. You can use websites such as Charity Navigator, CharityWatch, and the Better Business Bureau’s Wise Giving Alliance to check a charity’s reputation. Additionally, consider contacting your state’s charity regulator to confirm the organization is registered to raise money in your state.

After you’ve verified the status of the charity, consider making donations directly through the national organization. Avoid giving money or financial information directly to someone that reaches out to you through email, phone calls, or door-to-door interactions.

It might be a bit of extra work, but at the end of the day, you can feel good knowing your money is going to support a real cause. If you want to support October’s Breast Cancer Awareness Month, consider donating directly on the national website. An added bonus is that you’ll receive a receipt you can use for tax deduction purposes.

Trick: Tax Refund Fraud

Every year, the Internal Revenue Service announces its “dirty dozen” scams. These are the tax fraud scams the IRS determines to be the most common for the year. The 2020 list includes refund theft. A tax thief gains access to your information, files a fraudulent return in your name before you do, and has the funds paid out them. The only way you find out about it is that your legitimate tax return—the one you submit—is rejected for having already been filed.

Another way individuals fall victim to tax refund fraud is by using an unscrupulous return vendor. Dishonest vendors and ghost preparers steal personal information to file a tax refund and pocket the money or use that information for other types of identity fraud.

It’s unclear what exactly the next round of stimulus legislation will include, but if another stimulus check is included, watch out for attempts to steal your COVID stimulus checks. Remember that the IRS never contacts you via email, social media, or text.

Treat: File Early

It may feel like you just finished filing your 2019 taxes, but it’s never too early to start preparing for next year. While filing your taxes might be the last thing you want to think about this month, it’s crucial to stay on top of your tax return documents so you’re ready to file as early as possible. This is especially true for individuals who have reason to believe that their personal data has already been breached.

Always ensure you work with a reputable tax return vendor. You can look at the vendor’s online reviews before considering them as an option for tax return help.

Additionally, individuals that are paid to assist with or prepare federal tax returns must have a Preparer Tax Identification Number (PTIN). Paid preparers must sign and include their PTIN on returns. Always ask for this number before you hire an individual and hand over your personal information.

If you file early, you can beat out someone filing before you and receiving your return first. The earliest you can file is January.

Trick: Social Media Scams

Our social media accounts allow us to stay connected with friends and family. Unfortunately, scammers understand this and have started using social media to commit identity fraud.

There are many variations of social media phishing scams, but the basics are generally that a scammer creates an account to gain your trust and gather personal information from you. For example, many people have their name, birthday, and workplace information on their Facebook or other social media account. Those three things alone could be enough for someone to gain everything else they need to create a credit card application under your name or access your existing accounts.

Treat: Be More Exclusive and Private

Consider taking a quiet October morning to comb through your social media accounts. Start with your followers. Consider deleting everyone you don’t know personally.

If a follower base is important to you, consider another approach. Go through each social profile and scrub any personal details. Change the spelling of your last name slightly, delete your birthday, and remove other personal information, such as place of work. Ultimately, this can reduce the risk of being an easy target for identity fraud.

These core identity protection tips should help you stay safer online. With COVID-19 causing people to feel scared, individuals are more vulnerable to being tricked. Remember that identity fraud happens to millions of people every year, and it’s important to remain vigilant.

Stay Vigilant This Fall

Identity theft can have long-lasting consequences. If you’re recovering from identity fraud or simply unhappy with your credit score, consider signing up for ExtraCredit. ExtraCredit is a five-in-one credit product that provides tools to helps you build, guard, track, reward, and restore your credit.

Sign Up Now

The post Don’t Get Tricked: Identity Protection Tips You Need appeared first on Credit.com.

Source: credit.com

Can You Buy a House if You Owe Taxes?

A beige stucco house with light streaming through the windows

Looking for the perfect home on the real estate market? Unfortunately, it can be tricky if you have unpaid taxes. Failing to pay your federal income taxes can lead to the Internal Revenue Service placing a lien on your property or your assets. These legal tools protect the government’s ability to get its money. They also set off alarm bells for lenders.

Can you buy a house if you owe taxes? The good news is that federal tax debt—or even a tax lien—doesn’t automatically ruin your chances of being approved for a mortgage. But you do usually have to take steps to resolve the issue before a lender will look favorably upon your mortgage application.

Can You Buy a House If You Owe Taxes?

It’s still possible, but you could have to actively work on the tax debt before a bank will approve a home loan. It might be best to pay off the lien before you fill out a loan application. But if that’s not something you’re able to do, you still might be able to forge ahead, provided you’ve actually tried to make a dent in that debt.

The specific details of your situation come into play, though. And lenders typically have slightly different requirements and documentation needs, so you’ll need to work closely with your bank or mortgage lender. If you know you have tax debt you can’t pay immediately, be honest about it so the lender can let you know what you may need to accomplish to be approved.

Can You Get an FHA Loan If You Owe Back Taxes?

Yes, you may be able to get an FHA loan even if you owe tax debt. But you’ll need to go through a manual underwriting process to make this happen. During this process, the lender looks for proof that you have a valid agreement to repay the IRS. It also requires that you have made on-time payments on this agreement for at least the last three months.

Obviously, FHA loans aren’t only contingent upon your tax debt status. You’ll also have to meet any other requirements, including those related to income and credit history.

Can Military Borrows with a Tax Lien Get a Home Loan?

Lenders can view liens differently depending on the loan type and other factors. But in general, military borrowers with a tax lien may be able to obtain VA mortgage preapproval if:

  • They have an acceptable repayment plan with the IRS and have made on-time payments for at least the last 12 consecutive months.
  • They can satisfy all debt-to-income ratio requirements with that monthly tax repayment included.
  • They note their outstanding tax lien on the standard loan application.

Can You Buy a Home If You Owe Other Types of Tax Debt?

If you owe state taxes or property taxes, you could also put your dreams for homeownership at risk. The rules vary slightly for each situation, but any type of debt you owe can cause your lender to consider you a higher-risk applicant. Even if you’re approved for the mortgage, your interest rate may be higher.

The best bet with any type of tax debt is to pay it off as quickly as possible. And if you can’t resolve it before you apply for a mortgage, at least reach out to the agency you own to make arrangements.

Research and Preparation Are Important

Whether you want to buy a home while you owe federal taxes or you’re certain your credit report is squeaky clean, take time to prepare before applying for a mortgage. You may be surprised by an error or negative item on your credit report, for example. It’s better to fix credit issues before you try to buy a home than be side-swiped by them during the process.

After taking steps to pay off or make three to 12 timely payments on your taxes, check your credit reports. Then, use your score and other information to find out what types of mortgage rates you might qualify for. This helps you understand whether or not it’s the right time to apply for a loan and buy a new home. If you’re in the market for a mortgage loan, look at the options available from the lenders on Credit.com.

The Bottom Line on Buying a Home When You Have Tax Debt

So, if you’re a prospective homebuyer with a tax lien, a good first step is making sure your track record shows at least a year’s worth of on-time payments. Pay it off in full if possible, but if that’s a tall order, know that you might have diminished purchasing power and a rockier road until the slate is clean.

In the meantime, you should also be keeping tabs on your overall financial progress by checking your credit reports regularly. You can get these reports free once a year from each of the three major credit reporting agencies, and you can get your free credit score from Credit.com.

Monitor your credit scores for increases or drops. Taking an active role in your credit can help you get on track to buy a home, especially when you’re facing certain financial hurdles such as a tax lien.

The post Can You Buy a House if You Owe Taxes? appeared first on Credit.com.

Source: credit.com

What You Need to Know About Filing Taxes Jointly

couple filing taxes jointly

As a married couple, you and your spouse have the option of filing taxes jointly or separately. The IRS does encourage you to file your income tax returns jointly by providing a host of resources and incentives to do so. There are a lot of advantages to filing taxes jointly. However, there are also some instances where doing so might not be the best idea for your circumstances. Here are some things to know about filing taxes jointly and what it means for your finances.

What Does Filing Taxes Jointly Mean?

The IRS allows you to file taxes jointly as a married couple if you are married by the final day of the tax year-the 31st of December. Even if you are in the process of divorcing but haven’t finalized it by December 31st, you’re still considered married.

As a married couple filing under the “Married Filing Jointly” status, both of you can record:

  • Both your incomes
  • Each of your exemptions
  • Each of your deductions

Experts agree that filing your taxes jointly only works if one of you has a significantly higher income. However, if both of you work and have itemized deductions that are both large and unequal, then it may be a better idea to file separately.

However, the IRS considers you unmarried if the following conditions apply to your union:

  • You and your spouse lived apart from each other for at least the last six months of the year-business trips, military service, school and medical care are not taken into consideration.
  • You were the primary shelter provider for your dependents for at least the last six months of the year.
  • You paid over half the cost of upkeep for your home in the last six months of the year.

Whenever you choose to file your income taxes jointly, you need to realize that both of you are legally responsible for both the taxes and returns. If one of you understates the taxes due or tries to trick the system, then both of you are held liable for the penalties that are incurred. That is, unless one of you can prove that he/she wasn’t aware of what the husband/wife was doing and did not benefit in any way from the deceit. Proving this can be difficult because your finances are intertwined.

Tax law is tricky. If you and your spouse are having a difficult time determining your tax liability, it would be best to talk to an experienced tax preparer to ensure that you file your income tax return correctly. Whenever you file your taxes under married filing jointly, both of you will use the same tax return to report your income, credits, exemptions and tax deductions.

What Kind of Tax Credits Are Available for People Who File Jointly?

Several advantages come with filing taxes jointly. Primarily, these advantages come in the form of tax credits for couples who choose to file jointly. Some available tax credits include:

Earned Income Tax Credit

The Earned Income Tax Credit is one of the most substantial credits you can get from filing jointly. Generally speaking, this tax credit offsets some of your Social Security taxes. Your eligibility as well as the amount of credit is determined by your gross income, investment income and earned income. Here are some of the associated eligibility terms:

  • You have to be at least 25 years old but younger than 65 years.
  • Both of you must have valid Social Security numbers.
  • Both of you must have lived in the country for more than six months.

If you are married but decide to file separately, you don’t qualify for this credit.

American Opportunity Tax Credit

Formerly known as the Hope Credit, the American Opportunity Tax Credit helps families pay for four years of post-high school education. As a married couple filing jointly, the full American Opportunity Tax Credit is available if your adjusted gross income is $160,000 or less. The students in question must be enrolled for at least half-time and be in the school for at least one academic year. The best part is that this credit is offered on a per-student basis.

Lifetime Learning Credit

Similar to the American Opportunity Tax Credit, the Lifetime Learning Credit was also set up to help pay for post-secondary education. The main difference is that the LLC is available for many years of post-secondary education as opposed to just the first four as is the case with the American Opportunity Tax Credit. As a married couple filing jointly, you could get up to $2,000 per-student if you make less than $114,000 jointly.

Child and Dependent Care Credit

If you have to pay for childcare for kids under 13 years of age, then the Child and Dependent Care Credit is there for you. The credit is also available if you’re caring for a spouse or a dependent who is either physically or mentally incapable of taking care of themselves. The credit gives you up to 35% of qualifying expenses.

Savers Tax Credit

Formerly known as the Retirements Savings Contribution, the Savers Tax Credit is available to you if you have a qualified investment retirement account such as a 401(k) and other specific retirement plans. When filing jointly, you can get up to $2,000 in credit.

The Pros and Cons of Filing Taxes Jointly

Typically, the benefits of filing jointly tend to outweigh the cons. Here are some advantages of filing taxes jointly:

  • You can use your spouse as a tax shelter and save money.
  • Your jobless spouse can have an IRA.
  • You can greatly benefit from the tax credits that come with filing jointly.
  • Filing together can take less time and cost you less.

As is the case with everything that has a positive side, filing jointly also has its negative side:

  • Both spouses are responsible for the returns.
  • Your refunds can be blocked if one of you has a garnishment for unpaid child support or loan.

How Filing Taxes Jointly Works for Same-Sex Marriage

The Treasury and the IRS announced that all legally married same-sex couples must adhere to the same rules and laws as married heterosexual couples. That means that you can either file taxes jointly or separately.

When it comes to income and gift and estate taxes, they’re be treated the same as any other couple filing a joint tax return. It also applies to their filing status, their exemptions, standard deduction, employee benefits, IRA contributions, and the earned income and child tax credits.

Get It Now
Privacy Policy

The post What You Need to Know About Filing Taxes Jointly appeared first on Credit.com.

Source: credit.com

How to Avoid Paying Taxes on a Savings Bond

U.S. savings bondsSavings bonds can be a safe way to save money for the long term while earning interest. You might use savings bonds to help pay for your child’s college, for example, or to set aside money for your grandchildren. Once you redeem them, you can collect the face value of the bond along with any interest earned. It’s important to realize, however, that interest on savings bonds can be taxed. If you’re wondering, how you can avoid paying taxes on savings bonds there are a few things to keep in mind. Of course, one key thing to keep in mind is that a financial advisor can be immensely helpful in minimizing your taxes.

How Savings Bonds Work

Savings bonds are issued by the U.S. Treasury. The most common savings bonds issued are Series EE bonds. These electronically issued bonds earn interest if you hold them for 30 years. Depending on when you purchased Series EE bonds, they may earn either a fixed or variable interest rate.

You can buy up to $10,000 in savings bonds per year if you file taxes as a single person. The cap doubles to $20,000 for married couples who file a joint return. If you decide you want to use some or all of your tax refund money to purchase savings bonds, you can earmark an additional $5,000 for Series I bonds. These are paper bonds, not electronic ones.

When Do You Pay Taxes on Savings Bond Interest?

When you’ll have to pay taxes on Treasury-issued savings bonds typically depends on the type of bond involved and how long you hold the bond. The Treasury gives you two options:

  • Report interest each year and pay taxes on it annually
  • Defer reporting interest until you redeem the bonds or give up ownership of the bond and it’s reissued or the bond is no longer earning interest because it’s matured

According to the Treasury Department, it’s typical to defer reporting interest until you redeem bonds at maturity. With electronic Series EE bonds, the redemption process is automatic and interest is reported to the IRS. Interest earnings on bonds are reported on IRS Form 1099-INT.

It’s important to keep in mind that savings bond interest is subject to more than one type of tax. If you hold savings bonds and redeem them with interest earned, that interest is subject to federal income tax and federal gift taxes. You won’t pay state or local income tax on interest earnings but you may pay state or inheritance taxes if those apply where you live.

How Can I Avoid Paying Taxes on Savings Bonds?

Whether you have to pay taxes on savings bonds depends on who owns it. Generally, taxes are owed on interest earned if you’re the only bond owner or you use your own funds to buy a bond that you co-own with someone else.

If you buy a bond but someone else is named as its only owner, they would be responsible for the taxes due. When you co-own a bond with someone else and share in funding it, or if you live in a community property state, you’d also share responsibility for the taxes owed with your co-owner or spouse.

Use the Education Exclusion 

The word "TAX" spelled out with blocksWith that in mind, you have one option for avoiding taxes on savings bonds: the education exclusion. You can skip paying taxes on interest earned with Series EE and Series I savings bonds if you’re using the money to pay for qualified higher education costs. That includes expenses you pay for yourself, your spouse or a qualified dependent. Only certain qualified higher education costs are covered, including:

  • Tuition
  • Fees
  • Some books
  • Equipment, such as a computer

You can still use savings bonds to pay for other education expenses, such as room and board or activity fees, but you wouldn’t be able to avoid paying taxes on interest.

Additionally, there are a few other rules that apply when using savings bonds to pay for higher education:

  • Bonds must have been issued after 1989
  • Bond owners must have been at least 24 years of age at the time the bonds were issued
  • Education costs must be paid using bond funds in the year the bonds are redeemed
  • Funds can only be used to pay for expenses at a school that’s eligible to participate in federal student aid programs

If you’re married you and your spouse have to file a joint return to take advantage of the education exclusion. And any money from a savings bond redemption that doesn’t go toward higher education expenses can still be taxed at a prorated amount.

There are also income thresholds you need to observe. For 2020, single tax filers can earn up to $82,350 and benefit from the full exclusion. Married couples filing jointly can do so with up to $123,550 in income. Once your income passes those limits, the amount of interest you can exclude is reduced until it eventually phases out altogether.

Roll Savings Bonds Into a College Savings Account

Another strategy for how to avoid taxes on savings bond interest involves rolling the money into a college savings account. You can roll savings bonds into a 529 college savings plan or a Coverdell Education Savings Account (ESA) to avoid taxes.

There are some advantages to either approach. With a 529 college savings plan, you can continue saving money on a tax-advantaged basis for higher education. You won’t pay any taxes on money that’s withdrawn for qualified education expenses. And if you have multiple children, you can reassign the account to a different beneficiary if one child decides he or she doesn’t want to go to college or doesn’t use up all the money in the account.

Contributions to 529 college savings accounts aren’t tax-deductible at the federal level, though some states do allow you to deduct contributions. You don’t have to live in any particular state to invest in that state’s 529 and plans can have very generous lifetime contribution limits. Keep in mind that gift tax exclusion limits still apply to any money you add to a 529 on a yearly basis.

Coverdell ESAs have lower annual contribution limits, capped at $2,000 per child. You can only contribute to one of these accounts on behalf of a child up to their 18th birthday. Withdrawals are tax-free when the money is used for qualified education expenses. But you have to withdraw all the funds by age 30 to avoid a tax penalty.

The Bottom Line

A Patriot BondSavings bonds typically offer a lower rate of return compared to stocks, mutual funds or other higher-risk securities. But they can be a good savings option if you want something that can earn interest over the long term. Minimizing the taxes you pay on that interest may be possible if you have children and you plan to use some or all of your savings bonds to help pay for college. Talking to a tax professional can also help with finding other college tax savings strategies.

Tips for Investing

  • Consider talking to a financial advisor about the best ways to manage savings bonds in your portfolio. If you don’t have a financial advisor yet, finding one doesn’t have to be difficult. SmartAsset’s financial advisor matching tool can make it easy to connect with professional advisors locally in just minutes. If you’re ready, get started now.
  • Savings bonds purchased on behalf of grandchildren don’t receive the same tax treatment for higher education purposes. Generally, the education exclusion only applies if the grandparent is claiming a grandchild on their taxes as a dependent. If your parents are interested in helping pay for your child’s college expenses, you may encourage them to open a 529 college savings account instead, then roll the bonds into it to avoid paying taxes on interest earned.

Photo credit: ©iStock.com/JJ Gouin, ©iStock.com/stockstudioX, ©iStock.com/larryhw

The post How to Avoid Paying Taxes on a Savings Bond appeared first on SmartAsset Blog.

Source: smartasset.com

‘Home Town’: Ben and Erin Napier’s Top Upgrade To Give a Home Happy Vibes

home townHGTV

Ben and Erin Napier of “Home Town” usually renovate single-family homes, but in their latest episode, they’ve turned their keen reno eye toward a good cause.

In “Color Psychology,” Napier’s clients Lisa and Mike Cochran have bought a house in Laurel, MS, for $25,000 in order to turn it into a women’s home. They want this nonprofit to be a welcoming place for women who have run into tough times. It should be comfortable and beautiful, but they also know it needs to function for multiple people (and their kids) at once.

Ben and Erin set out to create the ultimate “roommate house” with a modest all-in budget of $100,000. Read on to find out Erin’s favorite beautiful (but inexpensive) upgrades, and find out if you can use them in your own space.

Use bright colors for a welcoming home

house
Before: This house looked dark and dreary.

HGTV

Erin knows that the women who will move into this house have been through a lot, so she wants to create a welcoming, happy ambiance.

One way she does this is by using color to make the common spaces and the exterior give off a joyful energy.

“I did a lot of research in college about color psychology, and certain colors make you feel hungry or happy or sad or sleepy,” Erin explains. “In a color palette of sky blue, light-coral colors, lemon-meringue yellow, and then lots of neutrals and creams around those colors together give you a feeling of happiness.”

house
After: These colors are bright and welcoming.

HGTV

So Erin paints the exterior a beautiful blue, with a playful coral on the front door. Inside, she brightens up the living room with sunny yellow walls set off by creamy white trim.

___

Watch: Exclusive: HGTV’s Orlando Soria Gives Us a Tour of His Home

___

When the paint is dry, the house looks like it’s bursting with joy and life. Sometimes, the right colors can make all the difference.

living room
Erin Napier used bright, uplifting colors in this living room.

HGTV

Invest in small updates everyone will appreciate

window
Everyone will enjoy the new, improved window.

HGTV

Just like a fresh coat of paint, new windows are something everyone in the house will enjoy, and a window upgrade doesn’t have to cost a lot.

That’s why Ben and Erin decide to upgrade this house by replacing a window upstairs. While this only brings extra light to the attic, it also gives the exterior a more elegant look.

“That window is beautiful,” Erin says when she sees the new window installed. “That small change is like changing the world for this house.” This new window proves that sometimes the smallest update can have a huge impact.

Create a designated workspace for everyone

desk
These desks add extra function to this space.

HGTV

Erin knows that a home should be beautiful as well as functional, which is why she decides to add two custom desks to the living space.

With kids living in the home, she wants to make sure they have space to do their homework—but these convenient desks could also work in a house with roommates.

“We can make it even more multipurpose,” Erin says when looking at the dual kitchen and dining room. “We’re going to have kids. I want to think about how we have a really communal sort of dining space where there’s also maybe desks.”

desk
Ben Napier made these desks in his wood shop.

HGTV

Ben and Erin find space in the corners of the dining room where one desk could be tucked in on either side of the room, away from the dining table and out of the way of foot traffic.

The desks look lovely and prove that, while there might not be room for a dedicated office in a shared house, there can still be workspaces for everyone.

Use inexpensive and easily-cleaned materials

kitchen
This backsplash is inexpensive and fun.

HGTV

Ben and Erin next move onto the kitchen, choosing a backsplash that is beautiful, inexpensive, and easy to clean. They use vinyl wallpaper as a clever substitute for tile, giving the room a pop of color that doesn’t cost a lot. To protect the wallpaper from messes, Erin covers it with plexiglass so it can be quickly cleaned.

“We went with this because it’s affordable but it’s really pretty, because we want this to be a lovely, soft first landing for these women and their kids,” Erin says.

Best of all, Erin’s wallpaper is peel-and-stick, so it’s easy to put up and easy to take down. This makes it an especially great choice for any roommates who want to be able to change up the look of their kitchen without spending too much money.

Don’t go too pricey with kitchen features

Erin Napier
Erin learns how laminate counters are made.

HGTV

With a great roommate-friendly backsplash, Erin wants to continue the theme of inexpensive, sharable space with style. So she uses laminate countertops in the kitchen, knowing that this durable material will look great—and cost just $300. And that frees up funds for the nonprofit to use somewhere else.

“People want to be down on laminate,” Erin says, acknowledging how laminate might not be the popular choice. “But it wouldn’t make sense if we had put $2,000 worth of countertops in this house that was all about the budget.”

And the laminate counters look just like marble, giving the new tenants a beautiful kitchen that isn’t breaking the bank.

When the house is finally finished, Erin and Ben get to present their clients with a happy home that will be enjoyed by many deserving women for years to come.

The post ‘Home Town’: Ben and Erin Napier’s Top Upgrade To Give a Home Happy Vibes appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

How to Remodel your Bathroom for Under $1000

Bathrooms can be one of the best rooms to bring in a big ROI, so updating it is important – but it doesn’t have to be expensive.

The post How to Remodel your Bathroom for Under $1000 appeared first on Homes.com.

Source: homes.com

How to Transition Your Kids’ Rooms

As your children grow and change, so should their bedrooms. However, if you were to revamp their rooms with every changing interest, favorite color or boy band, you would not only be spending a lot of time, but also a lot of money. Here are a few things to keep in mind if you’re looking to transition a child’s room as he or she continues to get older.

Start With Change in Mind

Designing a child’s nursery when you’re expecting is a fun and exciting experience. What parents may not plan for, though, are the unforeseen changes that the room might need as the child grows. Create a nursery with neutral wall colors and an open floor plan for playtime. It makes an easier transition that you can work with each changing year.

Consult With Them

When you’re planning to revamp your children’s room after a few years, make sure to consult with them. It’s likely they won’t hold back in letting you know what they want. You can enhance a child’s creativity and production levels if their rooms are filled with things that excite them.

Choose the Right Items

There are certain pieces of furniture and décor that can grow with a child. For example, a desk is a piece of furniture that can be added into a room and never seem to lose its importance, whether they’ll be endlessly creating works of art in coloring books or filling out college applications. Other items can include a classic bedframe and a monochromatic comforter.

Work Slowly but Surely

Make sure to try not to overwhelm your child with a lot of changes at once. If you’ve decided that it is time to “grow up” from the nursery, it may be best to do it little by little. Most parents choose to start with a new bed before gradually continuing to swap out the old with the new.

Remember Teen Tips

During the teen years, make sure to declutter (that garage sale money can go to their college fund), freshen up with a new paint job, and provide grown-up accessories. Allow room for self-expression, but with limits. For instance, you can frame posters instead of using thumb tacks or tape directly on the walls. A bold rug is fine for the time being, especially if it protects the carpet or floor from food spills or shoe marks.

Raising children can be one of the greatest joys in life, so make sure their room reflects that! Take these tips with you over the years and let the DIY project become a fun one you and your child can look back on.

The post How to Transition Your Kids’ Rooms first appeared on Century 21®.

Source: century21.com