Money-Saving Hacks to Implement Now

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Redo your monthly budget (and stick to it)

You can do plenty of things to improve your budget, and it's not all about pain and suffering, as many would have you believe. Everyone has a few things they overspend on. The challenge lies in identifying those particular items and weeding them out. A good place to begin is with restaurant spending, grocery bills, and impulse buying. A wise general philosophy is to assign a destination for every dollar you earn and place that category on your budget. Try cutting restaurant expenditures in half, reducing impulse buys at convenience stores, and shopping for groceries just once each week to regulate what goes toward food items.

Refinance your education debt

If you have any education debt still hanging around after all these years, refinancing student loans through a private lender is a way to lessen your monthly expenses. Not only can you get a longer repayment period, but have the chance to snag a favorable interest rate. But the clincher for money-saving enthusiasts is that your monthly payments can instantly go way down. That means extra cash for whatever you want. Use the excess to fatten savings or IRA accounts, or pay off high-interest credit card debt.

Install a programmable thermostat

For less than $20, it's possible to chop at least three percent off your utility bills and perhaps much more than that. 

Programmable thermostats are easy to install. You don't need special tools or advanced skills. Be sensible about summer and winter settings and you'll see a difference in your electric bill almost immediately, especially during the hottest months of the year. Don't forget to program the device to go into low-use mode while you're away for long weekends or longer vacations.

Join a shopping club

Although shopping clubs come with annual membership fees, the savings on groceries, household items, and gasoline usually offset them within a month or two of actively using the membership. That leaves the other months of the year for you to save money on household necessities. 

For people who drive a lot, shopping clubs with on-site gas stations offer one of the best deals going. Not only do the clubs offer gasoline for about 10 cents off the regular price, but some also offer free car washes and coupons for repair work at participating shops. Although shopping clubs are a win for most anyone, a family of three or more can log thousands per year in savings.

Refinance your home or car

If you have owned your home or car long enough to ride the interest rate waves, you likely qualify for a refinancing agreement. This strategy is excellent for consumers who have better credit now than when they made the original purchase. 

Young couples are perfectly positioned to refinance a home after several years of making payments on it. Likewise, anyone who still owes on a vehicle and can get a lower interest rate should look into a car or truck refi. Not only can you get additional months to pay off the obligation, but with a lower rate, you stand to save a nice chunk of money.

Take bagged lunches to work

One of the oldest, more reliable ways to instantly cut personal expenses is to prepare and take your own lunch to work each day. Not only do you save money by not eating out or buying lunch in the company cafeteria, but you also have added control over what you eat. That means you're doing a favor for your wallet and your health at the same time. 

Don't fall into the rut of eating at your desk. Consider taking your bagged meal outside and enjoying the scenery, taking a walk after eating, or joining friends in the cafeteria to socialize. 

Use public transportation as often as possible

If you live on or near a bus or light-rail route, do the logistical planning necessary to travel to work at least a few times each week by public transit instead of by car. 

Unless you reside in a small town, chances are you have access to buses and trains for commuting purposes. Once you get into a habit of using the public transit system, consider buying a one-month or annual pass, which can represent a major discount on one-time fare prices. Public transportation can take a bit longer to get you to your destination, but it's easy enough to make use of the time reading, catching up on work, or just relaxing.

Use credit cards wisely

If you use credit cards to make purchases you can't afford, you're headed for trouble. But if you use your plastic wisely, you can reap real benefits.

If you have a good credit rating, you'll likely qualify for cashback cards that give a percentage of your money back on some or all of your purchases. You can use that cash to pay for a portion of your monthly credit card bill. You could also let your cashback savings accumulate and use it to pay for larger purchases in the future.

Just make sure not to outspend your monthly budget so you're able to pay your credit card balance off in full each month. Keeping a balance on your cards is counterproductive because you'll also be paying interest fees.

Source: quickanddirtytips.com

5 Online Learning Platforms to Help Bolster your Resume

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Being a lifelong learner is one of the best ways to stay engaged in your job, whatever field you’re in.

There are a lot of ways to exemplify curiosity and a penchant for learning new skills: meeting regularly with your boss, attending professional development days and taking classes to hone a professional skill.

It has become more accessible and easier than ever to take courses to elevate your professional expertise. There are endless online resources to peruse, so it helps to be deliberate before diving in.

Julia Quirk, SPHR, a 10-year veteran of the HR industry and senior HR manager for TriSalus, recommends being practical and strategic about honing your professional talents.

“Look at the skills needed for your industry and the jobs you’re interested in,” said Quirk. “I recommend starting by first doing some research about what will actually be impressive to people in your career field, and then seeking out professional education opportunities from there.”

Quirk noted that digital classes and certifications are some of the best ways to boost your resume and grow in your current position. Here are some of her topic picks for online learning platforms.

1. Coursera

Coursera works with over 200 leading institutions and companies worldwide to provide courses on topics ranging from data science to personal improvement. Partners like Yale University, IBM and Google provide outlines for more than 3,900 courses.

Coursera is free to join and nearly all of its courses can be accessed at no cost. The catch here is that to take a course for free, you’ll be using the “audit” function, which means no grade and sometimes no official certificate is offered — but all the knowledge and coursework is. Some classes on Coursera are paid-only and will generally set you back about $50 per month.

Coursera also gives you the opportunity to see how a particular course benefited other students, breaking down what percentage of past students either started a new career after taking a course or got a tangible career benefit from it.

2. Google Skillshop

Google Skillshop is one of the classic online learning platforms. The technology behind Google Ads, Google Analytics and more is powerful, and mastering it can benefit nearly any line of work.

Google Skillshop provides learn-at-your-own-pace courses to help you become an expert in Google Ads, Google Analytics, Google Marketing Platform, Google My Business, Google Ad Manager, Google AdMob, Authorized Buyers, and Waze. All courses in the skillshop are free.

Most options are videos, slides and quick quizzes that build into a final assessment. A certificate is awarded to passing students and is usually valid for 12 months.

3. LinkedIn Learning

LinkedIn Learning (formerly Lynda.com) offers a free one-month trial before charging $30 a month as part of a larger LinkedIn Premium subscription.

LinkedIn Learning provides thousands of programs covering topics such as marketing tactics, mobile app development and how to use Photoshop. The courses are generally self-paced, with a LinkedIn Learning certificate awarded on completion that you can display on your LinkedIn profile.

And, with LinkedIn Learning, the classes are taught by top leaders from diverse backgrounds: Guy Kawasaki, Ben Long and David Rivers are just some of the highlights.

4. Online College Courses

One of the good things to come out of 2020 was the abundance of college courses made available for free online. While some universities have always offered a select few classes for no-cost online access, institutions like Yale and MIT expanded their libraries last year.

MIT offers free online programming not just on computer science, but also biology, race and ethics, accounting and more.

Yale also makes numerous introductory classes accessible to anyone with an internet connection. Last year, Yale made one of its most famous courses, the Science of Well-Being, available for free on Coursera. This class dives into the meaning of happiness.

Stanford is another university offering public access to many of its courses for free. The university breaks down its offerings into four main categories: Health and Medicine, Education, Engineering and Arts and Humanities.

It’s important to note that very few of these courses offer an official completion certificate or degree, but they’re still impressive to complete and are a strong addition to a resume. Other prestigious institutions like Harvard and Dartmouth also offer free online classes.

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5. Udemy

Udemy is an online learning platform specifically designed to help you bolster your professional skills. Although Udemy courses can range from $10 to $200, one resourceful way to access these classes is through your public library.

Hundreds of public libraries across the nation offer Udemy courses for no cost with just a library card. And if your public library doesn’t have a connection with Udemy, you may be able to get a digital library card elsewhere and still take part in all that Udemy has to offer.

Udemy offers more than 130,000 classes (boasting the world’s largest selection of courses) on topics like Python coding, piano playing and digital marketing.

When a course is complete, the student receives a digital badge and certificate they can affix to their LinkedIn profile (and that should be included on their hardcopy resume, too).

Shine a Spotlight on Your New Skills

Quirk offered some final advice about positioning these certificates and course completions on your resume: “Recruiters skim really fast,” she said. “Make it as easy as possible for recruiters to see the skills you have so they can line them up with the job description.”

Be sure to use keywords on your resume so screening software doesn’t pass you over.

Quirk advised putting the skills you gain from a course in the top part of your resume, but putting the actual course certifications lower down along with any other educational achievements.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

How to Pay Off Credit Card Debt Faster

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I've received several questions from Money Girl podcast listeners about paying off credit card debt. It's a fundamental goal because carrying card balances come with high interest, a waste of your financial resources. Instead of paying money to card companies, it's time to use it to build wealth for yourself.

7 Strategies to Pay Off Credit Card Debt Faster

1. Stop making new card charges

If you're carrying card balances from month-to-month, it's essential to understand what it costs you. As interest accrues, it can double or triple the original cost of a charged item, depending on how long it takes you to pay off.

The first step to improving any area of your life is to acknowledge your mistakes, and financing a lifestyle you can't afford using a credit card is a biggie. So, stop making new charges until you take control of your cards and can pay them off in full each month.

As interest accrues, it can double or triple the original cost of a charged item, depending on how long it takes you to pay off.

Yes, reining in your card spending will probably require sacrifices. Consider ways to earn extra income, such as starting a side gig, finding a better-paying job, or selling your unused stuff. Also, look for ways to cut costs by downsizing your home, vehicle, memberships, or unnecessary expenses.

2. Consider your big financial picture

Before you decide to pay off credit card debt aggressively, look at the "big picture" of your financial life. Consider any other debts or obligations you should prioritize, such as a tax delinquency, legal judgment, or unpaid child support. The next debts to pay off are those already in default or turned over to a collection agency.

In many cases, not having a cash reserve is why people get into credit card debt in the first place.

Assuming you don't have any debts in default, focus your attention on your emergency fund … or lack of one! I recommend maintaining a minimum of six months' worth of your living expenses on hand. In many cases, not having a cash reserve is why people get into credit card debt in the first place.

3. Make more than the minimum payment

Many people who can pay more than their monthly minimum card payment don't do it. The problem is that minimums go mostly toward interest and don't reduce your balance significantly.

For example, let's assume your card charges 15% APR, you have a $5,000 balance, and you never make another purchase on the card. If your minimum payment is 4% of your card balance, it will take you 10½ years to pay off. And here's the worst part—you'd have paid almost $2,400 in interest!

4. Target debts with the highest interest rates first

Make a list of all your debts, including credit cards, lines of credit, and loans. Include your balances owed and interest rates charged. Then rank your liabilities in order of highest to lowest interest rate.

Getting rid of the highest interest debts first saves you the most.

Remember that the higher a debt's interest rate, the more it costs you in interest per dollar of debt. So, getting rid of the highest interest debts first saves you the most. Then you can use the savings to pay more on your next highest interest debt and so on.

If you have several credit cards, evaluate them the same way—tackle them in order of highest to lowest interest rate to get the most bang for your buck. And if a credit card isn't the most expensive debt you have, make it a lower priority.

In general, debts that come with a tax deduction such as mortgages, home equity lines of credit, and student loans, should be paid off last. Not only do those types of debt have relatively low interest rates, but when some or all of the interest is tax-deductible, they cost you even less on an after-tax basis.

5. Use your assets to pay off cards

If you have assets such as savings and non-retirement investments that you could use to pay down high-interest credit cards, it may make sense. Just remember that you still need a healthy cash reserve, such as six months' worth of living expenses.

If you don't have any or enough emergency money saved, don't dip into your savings to pay off credit card debt. Also, consider what you could sell—such as unused sporting goods, jewelry, or a vehicle—to raise cash and increase your financial cushion.

6. Consider using a balance transfer card

If you can’t pay off credit card debt using existing assets, consider optimizing it by moving it from higher- to lower-interest options. That won’t make your debt disappear, but it will reduce the amount of interest you pay.

Balance transfers won’t make your debt disappear, but they will reduce the amount of interest you pay.

Using a balance transfer credit card is a common way to optimize debt temporarily. You receive a promotional offer during a set period if you move debt to the account. By transferring higher-interest debt to a lower- or zero-interest card, you save money and use it to pay down the balance faster.

7. Consolidate your high-rate balances

I received a question from Sarah F., who says, “I love your podcast and turn to it for a lot of my financial questions. I have credit card debt and am wondering if it’s a good idea to get a personal loan to pay it down, or is that a scam?”

And Rachel K. says, "I love listening to your podcasts and am focused on becoming more financially fit this year. I have a couple of credit cards with high interest rates. Would it be wise for me to consolidate them to a lower interest rate? If so, will it hurt my credit?" 

Depending on the terms you’re offered, using a personal loan can be an excellent way to reduce interest and get out of debt faster.

Thanks to Sarah and Rachel for your questions. Consolidating credit card debt using a personal loan is not a scam but a legitimate way to shift debt to a lower interest rate.

Having an additional loan added to your credit history helps you build credit if you make payments on time. It also works in your favor by reducing your credit utilization ratio when you reduce your credit card debt.

If you qualify for a low-rate personal loan, here are some benefits you get from debt consolidation:

  • Cutting your interest expense
  • Getting a fixed rate and term (such as 6% APR for 60 months with monthly payments of $600)
  • Having one monthly debt payment
  • Building credit

A couple of downsides of using a personal loan to consolidate debt include:

  • Being tempted to continue making credit card charges
  • Having potentially higher monthly loan payments (compared to minimum credit card payments)

While it may seem counterintuitive to use new debt to get out of old debt, it all comes down to the interest rate. Depending on the terms you’re offered, using a personal loan can be an excellent way to reduce interest and get out of debt faster.

What should you do after paying off a credit card?

Credit cards come with many benefits, such as purchase protection, convenience, and rewards. Don't forget that they're also powerful tools for building credit when used responsibly. If maintaining good credit is one of your goals, I recommend that you keep a paid-off card open instead of canceling it.

You don't need to carry a balance from month to month or pay interest on a credit card to build excellent credit.

To maintain or improve your credit, you must have credit accounts open in your name, and you must use them regularly. Making small purchases charges from time to time that you pay off in full and on time is enough to add positive data to your credit reports. You don't need to carry a balance from month to month or pay interest on a credit card to build excellent credit.

To learn more about building credit and getting out of debt, check out Laura’s best-selling online classes:

  • Build Better Credit—The Ultimate Credit Score Repair Guide
  • Get Out of Debt Fast—A Proven Plan to Stay Debt-Free Forever

Source: quickanddirtytips.com

Martha’s Vineyard Estate From 1688 Tops This Week’s List of the 10 Oldest Homes for Sale

by Posted in Cleaning And Maintenance, Unique Homes Tagged , , , , , , , , , , , , , , , , , , , , ,

Martha's Vineyardrealtor.com

There’s something soothing about looking at things that have withstood the test of time. Perhaps that’s why our regular peeks at the oldest homes on the market are so darn popular.

The 10 oldest homes available for sale this week date all the way to the establishment of the 13 ragtag Colonies. Each represents a long-standing commitment to the stories they have to tell and to all the people who took care of these homes through the years.

The list is topped by an estate on Martha’s Vineyard, MA, that was established in 1688. The James Allen House sits right next to Chilmark Pond and the Atlantic Ocean beyond.

The “newest” listing to crack the list was completed in 1760 and once served as a stagecoach stop. Today, it’s a lovingly updated family home with a living room where the tavern used to be.

Have a look at this week’s 10 oldest homes—we think they’ll serve as a refreshing antidote to today’s world.

1. 260 South Rd, Chilmark, MA

Price: $4,195,000
Year built: 1688
James Allen House: Spread over 6 acres, this waterfront estate includes a private Atlantic Ocean beach and deeded access to a dock on Chilmark Pond. The listing notes that generations of the same family have lived in and loved this Martha’s Vineyard retreat.

The grounds are landscaped with stone walls, fields, lawns, and walking paths. Buildings on the property include a two-bedroom guest cottage, a one-bedroom bunkhouse, garage, and garden shed.

The three-bedroom main house has a number of fireplaces and is surrounded by lovely views of the water.

Chilmark, MA
Chilmark, MA

realtor.com

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2. 99 Fisher St, Westborough, MA

Price: $579,900
Year built: 1727
Antique Colonial: Updated and well-maintained, this three-bedroom historic home sits on more than an acre at the end of a quiet dead-end street.

Highlights include a four-season room, a large dining room space with water views of Mill Pond, and a family room with beamed ceiling, plus a pellet stove. There’s also a basement, as well as a freshly renovated kitchen and bathrooms.

Westborough, MA
Westborough, MA

realtor.com

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3. 886 Vaughn Rd, Pottstown, PA

Price: $1,550,000
Year built: 1734
All-inclusive estate: Enormous by every conceivable definition, this estate of over 31 acres is only 40 minutes from downtown Philadelphia. The main house is a six-bedroom stone farmhouse dating to the Colonial era.

The spread includes the main home, a guest home, and a barn converted into a contemporary office building. The eclectic offering also has such amenities as an in-ground pool, a tennis court, paths, natural pond, motocross race course, and a field of solar panels.

Pottstown, PA
Pottstown, PA

realtor.com

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4. 10690 Allens Fresh Rd, Charlotte Hall, MD

Price: $925,000
Year built: 1739
Westwood Manor: This landmark home sits on a hill, surrounded by views and 30 acres of crop land.

The three-bedroom main house is one of only two known brick 18th-century gambrel roof structures still standing in Charles County. The home has retained many of its original details, including wood floors, molding, and two staircases.

Charlotte Hall, MD
Charlotte Hall, MD

realtor.com

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5. 540 Belmont Ave, Southampton, PA

Price: $549,900
Year built: 1745
Lemon Hill Farm: Behold this four-bedroom Bucks County retreat, recently updated with a new kitchen and bathroom.

Only the second home to be built in the original village, it’s brimming with antique details, like the pie stairs, millwork, wide-plank hardwood floors and built-ins. The 2.5-acre spread includes a carriage house that has been converted into a garage with a loft.

Southampton, PA
Southampton, PA

realtor.com

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6. 325 Main St, Old Saybrook, CT

Price: $895,000
Year built: 1746
Deacon Timothy Pratt House: A local landmark, this five-bedroom, center-chimney Colonial was recently renovated. It features a “treetop” third-floor bedroom suite with cathedral ceiling, exposed beams, sitting area, and private bath.

The half-acre property is listed on the National Historic Register and could be used as a bed-and-breakfast, according to the listing.

Old Saybrook, CT
Old Saybrook, CT

realtor.com

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7. 75 Fleshman Mill Rd, New Oxford, PA

Price: $400,000
Year built: 1740
Commercial potential: The seller is looking for someone to make an offer on this historic three-bedroom home, which is zoned for potential commercial use.

The owner is currently expanding the home to create two more bedrooms, and has a written history of the place ready to pass on to a buyer.

The 4-acre spread may need some work, but appears to have investment potential, plus plenty of historical value.

New Oxford, PA
New Oxford, PA

realtor.com

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8. 107 Changebridge Rd, Montville Township, NJ

Price: $998,000
Year built: 1752
Doremus House: This old home needs your finishing touches. According to the listing, the interior of this historic four-bedroom has been demolished and is ready for a new owner to finish the renovation of this classic property.

On more than 4 acres, it’s ready to be transformed into something special, and, for a development-minded buyer, the property has the potential to be subdivided.

MOntville Township, NJ
Montville Township, NJ

realtor.com

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9. 49 Gregory Hill Rd, Princeton, MA

Price: $849,900
Year built: 1760
Charles Russell House: This quaint, 4-acre property is bordered by stone walls and lilacs. The five-bedroom main house has wide pine floors, a walk-in pantry, and a sunroom overlooking the backyard.

The oversized attached barn has basement storage, plus a two-bedroom apartment with an updated kitchen and separate utilities.

Princeton, MA
Princeton, MA

realtor.com

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10. 310 Pleasant View Ave, Smithfield, RI

Price: $445,000
Year built: 1760
Steere-Harris House: Restored throughout, this antique four-bedroom Colonial offers a spacious 2,922 square feet of living area.

It was once a stagecoach stop, and the family room once served as the tavern. There’s also an outbuilding formerly used as a wash house, as well as a post-and-beam barn being used as a workshop.

For buyers interested in growing their own produce, the listing notes that the fenced-in vegetable garden has incredibly rich soil.

Smithfield, RI
Smithfield, RI

realtor.com

The post Martha’s Vineyard Estate From 1688 Tops This Week’s List of the 10 Oldest Homes for Sale appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

If a Sale Doesn’t Go Through, Who Pays the Appraisal Fee?

by Posted in Home Buying, Life Hacks, Real Estate News Tagged , , , , , , , , , , , , , , , , , , , , , , ,

home appraisal Zinkevych / Getty Images

If you’re buying a home, one of the (many) things you must check off your list is hiring a professional to do a home appraisal to assess the property’s value. But what if you check it off your list and then, for whatever reason, the home sale falls through—who pays the appraisal fee then?

Let’s take a look.

What is a home appraisal anyway?

A home appraisal is a professional assessment of how much a property is worth. Unless you’re paying for your home in cash, it’s a non-negotiable in the process. Most lenders require an appraisal before they’ll grant you a mortgage. Your home is their collateral, and if you can’t pay your mortgage, they want to make sure they can get back as much of their money as possible. An appraisal also helps protect you from buying an overpriced property.

The appraiser will take an unbiased look at a home, the condition it’s in, any repairs it needs, and other factors, and will also likely compare it to other similar properties in the area before providing an estimate of what they think it’s worth. An appraisal goes deeper than the comps your real estate agent likely gathered and presented to you when you were first considering the property—but not as deep as a home inspection, which you’ll also want to have completed in most cases before the sale is final.

If the appraised value is higher than the cost of the home you want to purchase, good for you! You’re making an investment that’s paying off from the get-go. If, however, the appraised value is lower than the price of the house, then you have a variety of options—including negotiating with the seller, challenging the appraisal, and/or getting a second one. Or, of course, you could walk away from the deal completely.

The cost of a professional appraisal varies depending on where you live; but in general, you can expect to pay somewhere around $300 to $400 for one.

Who pays the home appraisal fee when a deal falls through?

In most cases, even though the appraisal is for the benefit of the lender and the appraiser is selected by the lender, the fee is paid by the buyer. It may be wrapped up into closing costs, or you may have to pay it upfront.  There are some cases, however, in which a seller will offer to pay the appraisal fee to make the deal more attractive.

So, back to the original question: When a sale falls through, who’s on the line for the fee? In most cases, it’s still going to be the buyer.

“The buyer is usually required to pay the appraisal fee upfront, and it is owed even if the lender does not move forward with a loan,” says Lee Dworshak, a real estate agent with Keller Williams LA Harbor Realty in Rancho Palos Verdes, CA. “While the seller may have agreed to pay all closing costs, if the closing does not occur and the property is not conveyed, the seller is not required to pay your appraisal fee.”

If a buyer doesn’t pay the appraisal fee upfront and instead rolls it into the rest of her closing costs, that doesn’t mean she’s off the hook if she doesn’t close.

“It has nothing to do with the seller; it is ordered by your lender, and payment is due regardless of the outcome,” says Maria Jeantet, a real estate agent with Coldwell Banker C&C Properties in Redding, CA. “It is typically paid by the buyer unless specifically negotiated ahead of time to be paid by the seller.”

Having a home sale fall through is usually a bummer for both the seller and the buyer, and having to pay for an appraisal on a home you’re not going to buy adds a bit of insult to injury. Just know that while the appraisal fee can sting, it can save buyers from a much bigger financial wallop that comes with buying an overpriced home.

In the grand scheme of things, it’s a small price to pay when it comes to finding the right house at the right price.

The post If a Sale Doesn’t Go Through, Who Pays the Appraisal Fee? appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

9 Surprising Windex Uses (Aside From Cleaning Glass)

by Posted in Home Design Tagged , , , , , , , , , , , , , , ,

Vinegar isn’t the only super performer in your kitchen.

Windex — that simple $3 spray you keep under your sink — can be used to clean the interior of your car, to detail jewelry and even to unstick zippers.

Your store shelves probably carry several varieties of Windex, so if you’re cleaning fabric, stick with the clear version, and if you’re using it for a car, use the Windex Ammonia-free Glass Cleaner.

Aside from those suggestions, any of the Windex variations will do the job.

Here are 9 surprisingly effective uses for that familiar blue (or sometimes clear) bottle.

1. Moving Large Pieces of Furniture

Los Angeles-based interior designer John Linden uses Windex to slide large items that are stuck or too heavy to move.

“All we need to do is to spritz some in front of the objects we want to move before pushing the item,” Linden says. He’s then able to easily move that piece of furniture to its place.

As long as you use the ammonia-free version of Windex, you can use it on any type of flooring, including hardwood.

2. Cleaning Carpets and Upholstered Furniture

You thought Windex only worked on glass? Linden says he’ll often spray Windex onto small stains, leaving it for 20 minutes to soak. Then he wipes right off the furniture.

Make sure to use the clear formula for this, as the blue formula may leave its own stains.

3. Insect Repellant

The smell of ammonia is strongly disliked by many insects, says Andrew Barker, founder of Homeowner Costs. As a result, Barker suggests spraying Windex by open windows and doors to keep bugs at bay.

4. Clean Your Car

Windex is also a great cleanser for cars, says Deidre Fisher, owner of Simply Bliss Cleaning in Salt Lake City, Utah. Use it on window and mirror smudges, on dashboards, the steering wheel and any plastic and leather surface.

It’s also great for cleaning the screens and dials. “I just recommend spraying the cloth first and not the electronics directly,” Fisher says.

5. Washing Makeup Brushes

Makeup artist and lifestyle blogger Kerrin Jackson has been using Windex to clean her brushes and airbrush parts for more than a decade.

“They make light work of breaking down the alcohol-based makeups and heavy-duty body makeup products that can sometimes be stubborn and difficult to clean from the inner workings of the airbrush parts,” Jackson says.

6. De-greasing Your Kitchen

Use Windex on your exhaust fans and range hoods in your kitchen, suggests Diana Rodriguez-Zaba, president of ServiceMaster Restoration by Zaba, a cleaning company in Chicago.

Rodriguez-Zaba suggests spraying Windex on the surfaces and letting it stand for 5-10 minutes, then wiping it clean and rinsing with water to remove any remaining chemical residue.

7. Cleaning Your TV Screen

Got a dusty TV? Dust is usually very prevalent on televisions because everyone is scared to clean them. But spray some Windex on a soft cloth and you’re good to go, says Abe Navas, general manager of Emily’s Maids, a house cleaning service in Dallas.

8. Removing Stains From Clothing

It works well for red wine, tomato sauce, ketchup and more, says Jen Stark, founder of Happy DIY Home, a gardening and home improvement blog.

“You can lightly spray the stain with Windex and let it sit for 15 minutes, as long as the clothing item isn’t a delicate silk,” Stark said. “Get a clean cloth and blot at the stain before rinsing it in cold water.”

Follow this by washing the clothing as recommended. Make sure you use clear Windex for this task.

9. Cleaning Patio Furniture and Outdoor Surfaces

Benjamin Nguyen, owner of Full Color Cleaners, says he uses Windex to clean his patio furniture, making it look as good as new. It will clean everything from the furniture to outdoor surfaces, including brick.

For this task, go the extra mile and snag the Windex Outdoor Concentrated Cleaner, which is a 32 oz. spray bottle that attaches onto a hose ($27.66). Spray onto your aluminum siding, your brick, your windows — and with this tool, you won’t even need a ladder to do it.

Danielle Braff is a contributor to The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

10 Ways Coronavirus Tax Relief Affects Your Personal Finances

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In response to the ongoing coronavirus emergency, the Internal Revenue Service (IRS) is offering federal tax relief to Americans. It’s part of emergency declarations that were enacted due to the Stafford Act. This response will undoubtedly help citizens and businesses cope with the crisis.

But what you may not know is that changes to the tax deadline affect several aspects of your financial life. In this post, I’ll explain what coronavirus tax relief is and 10 ways it affects your finances.

1. Your federal income tax deadline is postponed

The central feature of tax relief during the coronavirus pandemic is that the due date for filing and paying your 2019 federal taxes is postposed from April 15, 2020 to July 15, 2020.

You don’t have to be sick or negatively impacted by COVID-19 to qualify for this federal tax postponement. It applies to any person or entity, such as those who are self-employed, an unincorporated business, a corporation, estate, or trust that has 2019 taxes due on April 15. It doesn’t matter if April 15 is the original date for your return on an extension date you previously filed for—your new due date is still July 15.  

There’s absolutely nothing that taxpayers need to do to take advantage of this relief.

There’s absolutely nothing that taxpayers need to do to take advantage of this relief. The postponement will happen automatically for any amount you owe or any installment payment you were asked to make on April 15.

Of course, many Americans are expecting a tax refund. When you overpay taxes during the year, the IRS settles up with you during tax season by issuing a refund.

If you’re owed a tax refund, never wait to file your tax return. The sooner you send it in, the faster you’ll receive your money back. Getting a direct deposit is always faster and safer than a paper check. So, be sure to include your banking information with your return, so you receive your refund electronically.

2. Interest and penalties begin to accrue on July 16, 2020

As a result of the postponement of the due date for filing and paying federal income taxes until July 15, 2020, you’ll get a pass on interest and penalties if you pay up by then. However, the extra fees will begin to accrue on July 16, 2020.

3. Your state income tax deadline hasn’t changed

Depending on where you live, you may have to pay state income taxes, which have not been postponed. However, it’s possible that the states affected the most by the coronavirus could enact relief measures of their own.

Depending on where you live, you may have to pay state income taxes, which have not been postponed.

Seven states don’t charge income tax, including Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. Additionally, New Hampshire and Tennessee don’t tax earned income, but they do tax your investment income.

If you live in any of the remaining 41 states, plan on filing and paying your state taxes as usual. Check with your state’s tax agency or Department of Revenue to learn more and stay as up to date as possible.

4. You can still file a tax extension

But what if July 15 comes and you need more time? Individuals and businesses can request an automatic extension to delay filing federal taxes. However, this doesn’t give you more time to pay what you owe, only more time to submit your tax form.

To get a federal extension, individuals must submit IRS Form 4868 on IRS.gov, using tax software, or through your tax professional, before the July 15 deadline. Most incorporated businesses must file IRS Form 7004.

If you choose to file an extension request, that would give you until October 15, 2020, to file your 2019 return.

If you choose to file an extension request, that would give you until October 15, 2020, to file your 2019 return. But again, to avoid interest and penalties on any outstanding tax liability, you must pay an amount you estimate is due with your extension request.

If you need a state tax filing extension, check with your state’s tax agency to see what’s possible.

5. Taxes you already scheduled payment for can be canceled

If you’re ahead of the game and already filed your 2019 taxes and scheduled payment to occur on April 15, you have options. If you don’t want your payment to go through, you can reschedule or cancel it until two business days before the payment date.

In other words, April 10 would be the last day to make a tax payment change. However, I wouldn’t wait until the last minute if you plan to reverse or modify it.

To make a change, visit the tax payment portal you initially used and follow the instructions. If you authorized an electronic funds withdrawal from your bank account, contact a U.S. Treasury Financial Agent at 888-353-4537 to request a cancellation. And if you scheduled a tax payment using a credit card, contact the issuer to cancel the card payment.

6. Only one estimated tax deadline for businesses is postposed

Most businesses make estimated tax payments each quarter. The 2020 schedule is:

  • First quarter is due on July 15, 2020, which changed from April 15, 2020
  • Second quarter is due on June 15, 2020
  • Third quarter is due on September 15, 2020
  • Fourth quarter is due on January 15, 2021

So, the first estimated payment that businesses need to make this year will be due on June 15, 2020.

7. Other tax filing deadlines have not been postponed

What about information returns that must be filed by certain types of businesses, or taxes that are due on other dates, such as May 15 or June 15? Unfortunately, individuals and businesses that have filing or payment due dates other than April 15 don’t get any relief at this time.

Again, the assistance only applies to federal income tax returns or payments due on April 15, 2020.

8. Relief doesn’t apply to other types of taxes

If you or your business owe tax other than income tax, such as sales tax, excise tax, payroll tax, gift tax, or estate tax, you must file and pay them as usual.

9. You have more time to make HSA contributions

You typically have until April 15 to make health savings account (HSA) contributions for the prior year. Under this relief, you can now make HSA contributions for 2019 at any time until July 15, 2020.

To qualify for an HSA, you must be covered by a qualifying high-deductible health plan that you get through work or on your own. In early March, the IRS issued a notice that a high-deductible health plan may cover the cost of COVID-19 testing and treatment before your deductibles are met. Also, just as before the coronavirus, you can pay for medical testing and treatment using funds in your HSA.

10. You have more time to make retirement contributions

Just like with an HSA, you typically have until April 15 to make contributions to a traditional IRA or a Roth IRA. Because the tax filing date is postponed to July 15, you can make IRA contributions for 2019 at any time until July 15, 2020.

However, for most workplace retirement plans, such as a 401(k) or 403(b), the deadline corresponds to the calendar year. So, December 31, 2019, was the last day to make 2019 contributions for accounts offered by an employer.

While this tax relief may not be enough to buoy many people and businesses that have been affected most by the coronavirus pandemic, it’s just one measure. There will be broader fiscal relief enacted to minimize the economic impact of this ongoing health crisis.

Source: quickanddirtytips.com

Should I Refinance My Mortgage? When to Refinance

by Posted in Home Buying Tips Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

The Federal Reserve recently lowered interest rates in an effort to stimulate the economy during the coronavirus pandemic. As a result, more and more people are becoming interested in refinancing their mortgage. Depending on the situation, refinancing your mortgage can prove to be a savvy financial decision that can save you massive amounts of money in the long-term. But is it right for you? 

If you’re curious about refinancing your mortgage, this article should answer many of your questions, including: 

  1. How Does Refinancing Work?
  2. When Should I Refinance My Mortgage? 
  3. What is the Downside of Refinancing My Home? 
  4. How Do I Calculate if I Should Refinance My Mortgage? 
  5. What are My Refinancing Options? 

How Does Refinancing Work? 

“Refinancing your mortgage allows you to pay off your existing mortgage and take out a new mortgage on new terms,” according to usa.gov. So when you refinance your mortgage, you’re essentially trading in your old mortgage for a new one. The new loan that you take out pays off the remainder of the original mortgage and takes its place. That means the terms of the old mortgage no longer apply, and you’re instead bound by the terms of the new one. 

There are many reasons why homeowners choose to refinance their mortgage. They may want to secure a loan with a lower interest rate, switch from an adjustable rate mortgage (ARM) to a fixed-rate, shorten or lengthen their repayment term, change mortgage companies, or come up with some cash in order to pay off debts or deal with miscellaneous expenses. As you can see, there are a vast number of reasons why someone might be interested in refinancing. 

There are also a couple of different ways to go about refinancing. A standard rate-and-term refinance is the most common way to do it. With this method, you simply adjust the interest rate you’re paying and the terms of your mortgage so that they become more beneficial to you. 

However, you could also do a cash out refinance, where you pull equity out of your home and receive it in the form of a cash payment, or take out a new loan that’s greater than the remaining debt on the original mortgage. Even though you’ll get an influx of cash in the short-term, a cash out refinance can be a risky option because it increases your debt and it’ll likely cost you in interest payments in the long-term.


When Should I Refinance My Mortgage?

Maybe you’ve been wondering, “Should I refinance my mortgage?” If you can save money, pay off your mortgage faster, and build equity in your home by doing so, then the answer is yes. Whether you can achieve this is dependent on a variety of things. Take a look at these refinance tips in order to get a better idea of when you should refinance your mortgage. 

Capitalize on Low Interest Rates 

When mortgage rates go down, a lot of people consider refinancing their mortgage in order to take advantage of that new lower rate. And this makes perfect sense—by paying a lower interest rate on your mortgage, you could end up saving thousands of dollars over time. But when it comes to refinancing your mortgage, there are a number of other factors you should consider as well. 

Regarding interest rates, you should take a look at how steeply they drop before making any refinancing decisions. It might be a good idea to refinance your mortgage if you can lower your interest rate by at least 2 percent. It ultimately depends on the amount of your mortgage, but anything less than that amount likely won’t be worth it in the long run. 

Switch to Fixed-Rate Mortgage

It’s also very common for people to refinance in order to get out of an adjustable rate mortgage and instead convert to a fixed-rate. An adjustable rate mortgage usually starts off with a lower interest rate than a fixed-rate, but that rate eventually changes and it can end up costing you. That’s because the interest rate on an adjustable rate mortgage changes over time based on an index of interest rates. It can alter based on the mortgage market, the LIBOR market index, and the federal funds rate. 

By converting to a fixed-rate mortgage—where the interest rate is set when you initially take out the loan—before the low rates on your adjustable rate mortgage increase, you can minimize the amount you have to pay in interest. If you’re able to lock in a low fixed interest rate, you’ll be less susceptible to market volatility and more capable of devising a long-term payment strategy.   

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When debating the question of “Should I refinance my mortgage or not?”, you should also keep in mind what lenders will look at when determining the terms of your loan. In order to come up with an interest rate and approve you for a refinancing loan, lenders will take the following factors into consideration: 

  • Payment history on your original mortgage: Before issuing a refinancing loan, lenders will review the payment history on your initial mortgage to make sure that you made payments on time. 
  • Credit score: With good credit, you’ll have more flexibility and options when refinancing. A high credit score will allow you to take out loans with more favorable terms at a lower interest rate. 
  • Income: Lenders will want to see that you generate a steady, reliable income that can comfortably cover the monthly mortgage payments.  
  • Equity: Home equity is the loan-to-value ratio of a borrower. You can calculate it by dividing the amount owed on the current mortgage loan by the home’s current value. Before you consider refinancing, you should ideally have at least 20% equity in your home. If your equity is under 20% but your credit is good, you still may be able to secure a loan, but you’ll likely be charged a higher interest rate or have to pay for mortgage insurance, which is not ideal.

What is the Downside of Refinancing My Home? 

Refinancing a mortgage isn’t for everyone. If you don’t take the time to do your research, calculate savings, and weigh the benefits versus the potential risks, you could end up spending more money on refinancing than you would have had you stuck with the original loan. 

When refinancing, you run the risk of placing yourself in a precarious financial position. This is especially true when it comes to a cash out refinance, as this can put you on the hook for even more money and bury you in interest payments. 

Don’t refinance your home and pull out equity just to get quick cash, make luxury purchases, and buy things you don’t need—doing this is an easy way to dig yourself into a deep financial hole. In reality, you should only refinance your mortgage if you know that you can save money doing it. 

How Do I Calculate if I Should Refinance My Mortgage? 

Before you refinance your mortgage, it’s crucial to crunch the numbers and determine whether it’s worth it in the long-run. To do this, you’ll first have to consider how much refinancing actually costs. 

Consider Closing Costs

So how much does it cost to refinance? One of the most significant expenses to take into account when refinancing is the closing costs. All refinancing loans come with closing costs, which depend on the lender and the amount of your loan, but average around three to six percent of the principal amount of the loan. So, for example, if you took out a loan of $200,000, you would end up paying another $8,000 if closing costs were set at 4%. 

These closing costs are most often paid upfront, but in some cases lenders will permit you to make the closing costs part of the principal amount, thus incorporating them into the new loan. While closing costs generally don’t cover property taxes, homeowner’s insurance, and mortgage insurance, they do tend to include the following: 

  • Refinance application fee
  • Credit fees 
  • Home appraisal and inspection fees 
  • Points fee
  • Escrow and title fees 
  • Lender fee

Determine Your Break-Even Point

To make an informed decision as to whether refinancing your mortgage is a sound financial decision, you should calculate how long it will take for the refinancing to pay for itself. In other words, you’ll want to determine your break-even point. To calculate your break-even point, divide the total closing costs by the amount you’ll save on a monthly basis as a result of your refinance loan. 

The basic equation for figuring out your break-even point is as follows: [Closing Costs] / [Monthly Savings] = [# of Months to Break Even] 

Taking this into consideration, you can see how the length of time you plan on staying in a home can make a big difference as to whether or not refinancing your mortgage is the right option for you. If you’re thinking of moving away and selling your house in a few years, then refinancing your mortgage is probably not the right move. You likely won’t save enough in those few years to cover the additional costs of refinancing. 

However, if you plan on remaining at the house you’re in for a long stretch of time, then refinancing could potentially save you a lot of money. To make an informed decision, you have to do the math yourself—or, to make the calculations even simpler, use Mint’s online loan repayment calculator. 

What are My Refinancing Options? 

As stated above, you have options when it comes to refinancing loans. You could refinance your mortgage in order to secure a lower interest fee and a change in the terms of your loan; or you might opt for a cash out refinance that lets you turn your home’s equity into extra income that you can use to pay for home improvement, tuition costs, high-interest debt payments, and more. 

In order to actually start refinancing your home, you’ll have to find a lender and fill out a loan application. Shop around at large and small banks alike to see who will offer you the lowest interest rates and the best terms. How long does a refinance take? The timeline depends on a few things, including the lender you borrow from and your own financial situation. But, in general, it takes an average of 45 days to refinance a mortgage. 

You might also consider forgoing the traditional banks and dealing with an online non-banking company instead. Alternative lenders often offer greater flexibility in terms of who qualifies for a loan and they can, in some cases, expedite the refinancing process. For example, Freddie Mac is a government-sponsored mortgage loan company that, in addition to offering no cash out and cash out refinancing, has a third option available for borrowers whose loan-to-value ratio is too high to qualify for the traditional refinancing routes. Learn more by visiting freddiemac.com. 

When tackling any big financial decision, it’s important that you’re informed and organized. Learn the facts, do the calculations, and research your options before beginning the refinancing process to make sure it’s the right choice for you. 

The post Should I Refinance My Mortgage? When to Refinance appeared first on MintLife Blog.

Source: mint.intuit.com

Greystone Mansion: the Most Familiar House You’ve Never Visited

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There’s this mansion in Beverly Hills that a large part of the world’s population has already seen, even though they might not realize it.

It’s a historic house that’s been used in endless Hollywood movies, TV series, and music videos. After you finish reading this article, you might just realize that you’ve seen this house before, too. Well, now you will also know its history, and when you see it again on your TV screen (and more than likely, you will), you’ll recognize it. 

The place we’re referring to is known as Greystone Mansion or Doheny Mansion, and it’s located at 905 Loma Vista Drive in Beverly Hills. The Tudor Revival mansion was originally completed in 1928, after three years’ worth of construction and a total cost of over $4 million — an insane amount at the time. 

aerial view of Greystone Mansion
Greystone Mansion aerial view. Image credit: Luxury Architecture

The inception of Doheny Mansion

The 55-room, 46,000-square-foot mansion lies on a 16-acre site within Trousdale Estates. It was designed by architect Gordon Kaufmann and built by the P.J. Walker Company. The land was actually a wedding gift from oil tycoon Edward Doheny to his son, Edward ‘Ned’ Doheny, and his new wife, Lucy Smith. 

Edward Doheny was an American oil tycoon who drilled the first oil well in Los Angeles in 1892. His story was depicted in the Academy Award-winning movie There Will Be Blood, starring Daniel Day-Lewis. Interestingly enough, the movie was actually filmed at Doheny Mansion. 

Ned Doheny’s house became known as Greystone because it was built mainly of stone, and has a grey, stone-cold appearance. The house took roughly three years to build, and included stables, kennels, tennis courts, a gatehouse, a swimming pool and pavilion, a lake with babbling brooks and waterfalls, and even a fire station. 

old photo of the Greystone Mansion driveway
Greystone Mansion driveway. Image credit: Friends of Greystone Mansion

A bittersweet move-in for the Dohenys

Unfortunately, Ned Doheny didn’t get to enjoy his new home for too long. Just four months after moving into Greystone Mansion, Doheny was found dead in the house, alongside his secretary and friend, Hugh Plunkett. The case was ruled a murder-suicide, however, some claim that there’s more to that story.

Doheny was killed by his own gun, and he was not buried with the rest of his family, but in a different cemetery, just a few yards away from where Plunkett was laid to rest. This has led some to believe that Doheny might have committed suicide, however, this is just a theory that certainly adds a bit of mystery to Greystone Mansion. 

Greystone Mansion exterior
Greystone Mansion exterior. Image credit: The City of Beverly Hills

Following Ned Doheny’s death, his wife Lucy remarried and lived in the house with her children until 1955. Greystone Mansion was later sold to Paul Trousdale, the developer of Trousdale Estates, who then sold it to Henry Crown of Chicago. The businessman never actually lived in the house, but leased it out to film studios — and that’s how Greystone’s prolific movie career started. 

Greystone Mansion, Hollywood’s favorite filming location

Over the decades, Greystone Mansion has been featured in numerous Hollywood movies and TV series, including classics like The Big Lebowski, Eraserhead, The Witches of Eastwick, Death Becomes Her, Batman & Robin, The Bodyguard, Dark Shadows, The Prestige, The Social Network, and X-Men.

The mansion has also made appearances in TV series, including Alias and The Young and the Restless, and it also played the part of Chilton Academy in Gilmore Girls. 

Gilmore Girls scene filmed at Greystone Mansion
Gilmore Girls scene filmed at Greystone Mansion, featuring the home’s famous staircase

Last but not least, Greystone Mansion has been featured in commercials and even music videos. You might have already toured the house alongside Robert Downey Jr., in the music video for Elton John’s single I Want Love. Let us refresh your memory:

In 1965, the City of Beverly Hills purchased Greystone Mansion, and a few years later, the property became a public city park. It was added to the National Register of Historic Places in 1976, as Doheny Estate/Greystone.

The mansion continues to be used as a filming location and a destination for special events such as music festivals, fundraisers, and even weddings. Greystone Mansion houses the Beverly Hills Flower & Garden Festival, the yearly Catskills West drama camp, and The Annual Hollywood Ball, among others. 

Greystone Mansion public gardens
Greystone Mansion public gardens. Image credit: Love Beverly Hills

A carefully preserved slice of L.A. history

Greystone Mansion is a remarkable feat of architecture, and most of its original features have been carefully preserved over the years. The property features hand-carved oak banisters, balustrades and rafters, seven chimneys, each designed by a different artist, a movie theater room, a billiard room, a hidden bar, and a two-lane original Brunswick bowling alley. The alley was renovated so that it could be used by the filming crew for There Will Be Blood. 

The bowling alley at Greystone Mansion
The bowling alley at Greystone Mansion. Image credit: The City of Beverly Hills

There’s a grand hall with distinctive, black-and-white marble floors and a very famous staircase. In fact, the staircase at Greystone Mansion has been featured in numerous productions, due to its majestic appearance. 

The grand hall and staircase at Greystone Mansion
The grand hall and staircase at Greystone Mansion. Image credit: Love Beverly Hills

Greystone Mansion also included a servant’s quarters that took up two entire floors on the east wing and was built to accommodate a live-in staff of 15.

Greystone Mansion plan. Image credit: The City of Beverly Hills

There was also a living room with a balcony where musicians performed at special events, and a kitchen pantry with a secret wall safe that held the family’s silver and gold kitchenware.

Greystone Mansion interior
Greystone Mansion interior. Image credit: The City of Beverly Hills

This stunning, stone-clad Beverly Hills mansion continues to attract filming crews, and we’re definitely going to be seeing it again on the big screen. At the same time, its beautiful, lush gardens and its rich history will continue to attract visitors from around the world.

Here’s a further glimpse into the mansion’s history, to keep you occupied until you get a chance to visit in person:

Featured image courtesy of The City of Beverly Hills

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The post Greystone Mansion: the Most Familiar House You’ve Never Visited appeared first on Fancy Pants Homes.

Source: fancypantshomes.com