Tag Archives: personal finance

Money Monday: Easy ways to save money

When looking to save more money, look for ways to spend less that don’t require much effort.

save money
Photo by 401kcalculator.org

Saving will be much more attractive if it doesn’t affect your entire daily life.

Here’s several different ways from Forbes to save on your bills, that won’t affect your whole life: “7 Ways To Save Thousands On Your Monthly Expenses.”

Money Monday: February mortgage rates

Fixed mortgage rates sank to a 10-month low this month.

Photo by 401kcalculator.org

“According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average dropped to 4.41 percent with an average 0.4 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.46 percent a week ago and 4.32 percent a year ago. The 30-year fixed rate hasn’t been this low since early April.”

“The 15-year fixed-rate average fell to 3.84 percent with an average 0.4 point. It was 3.89 percent a week ago and 3.77 percent a year ago. The five-year adjustable-rate average drifted down to 3.91 percent with an average 0.3 point. It was 3.96 percent a week ago and 3.57 percent a year ago.” (Washingtonpost.com. “Mortgage rates tumble to 10-month low.” 7 February 2019.)

Read the rest of Washington Post’s article here.

Money Monday: Check your improvement ROI

Before you do any home improvement projects, check out the return of investment — regardless of whether you’re planning on selling or just want to enjoy it for the moment!

Infographic from CAR.org.

Money Monday: Financially prepare for retirement by downsizing

“It makes financial sense to downsize your home as you prepare for retirement.”

retirement

“The move to a smaller home is a lifestyle and financial change all parents should weigh after their offspring are off on their own, personal finance pros say.

“One of the first things freshly minted empty nesters should do is “revisit their housing situation,” says Dana Anspach, founder and CEO of Sensible Money, an investment advisory firm in Scottsdale, Arizona.” (Yahoo Finance. https://finance.yahoo.com/news/makes-financial-sense-downsize-home-110102643.html)

Read more at Yahoo here: “It makes financial sense to downsize your home as you prepare for retirement. Here’s why.”

Money Monday: Homeownership budgeting

Becoming a homeowner of course brings with it paying for various fees and services, but there are smaller fees that you may not be thinking about when penciling out how much you can spend on buying a home. Add into your budget fees for the following buyer fees:

  • Home inspection
  • Appraisal fee
  • Survey report
  • Title services
  • Application fees

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

Money Monday: How to not overpay for a house

money

“No buyer wants to pay too much for a house…buyers should know when a property is overpriced and be equipped with strategies to avoid overpaying.” (CNN. “How to avoid overpaying for a home.” www.cnn.com/2019/01/11/success/overpaying-for-a-home)

CNN has practical tips here: “How to avoid overpaying for a home.”

Money Monday: More homebuyers are DIYing than hiring professionals

“Although the majority of homeowners prefer the trusty hands of a professional, data suggests that “do it yourself” remodeling projects are on the rise.

diy home improvement

“In fact, the National Association of Realtors 2019 Remodeling Impact Report indicates that 53% of home projects were completed by a professional, whereas 47% were completed by a homeowner.” (Housing Wire. https://www.housingwire.com/articles/47836-nar-diy-projects-now-competing-with-renovation-professionals. 3 January 2019)

Read more here: NAR: DIY projects now competing with renovation professionals

Money Monday: Paying for surprise repairs

Nearly half of homeowners have had to make (and pay for) an unexpected repair within the first year of owning their home. Do you have money set aside for a repair?

  • 12% had to use savings to pay for the majority of the home repair and/or improvement
  • 13% had to go into debt for the repair or improvement
  • 20% had to make sacrifices in other areas of life in order to pay for them
  • 52% were able to easily pay for the repair or improvement without going into debt, making other sacrifices or using savings

Making and paying for surprise home repairs

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.