by Mrs C | Aug 25, 2021 | Blog
These days, most people are interested in going green, but many of them worry making that choice will be expensive. However, living a greener lifestyle doesn’t actually have to cost you that much. There are actually many ways in which choosing to go green can actually help you to save money and be more financially secure.
Green Means Consuming Less
It’s important to remember that when you go green it should mean that you consume less, which means saving money. This will come in the form of reusing items when possible, minimizing your use of unnecessary car trips, and purchasing longer-lasting items. All of these choices will actually result in spending less money over time. Buying longer-lasting items can sometimes be more expensive initially, but since you will no longer need to replace those items frequently, you will save money.
Costs Are Coming Down
Many of the elements of green living that have traditionally been more expensive are becoming more affordable as technology improves. This includes things like solar panels, wind turbines, and even geothermal energy. All of these energy sources can be excellent ways to decrease your carbon footprint and live a greener life. There are also tax benefits to investing in green technology that you should take advantage of. Solar costs have dropped 38 percent within the last five years, making them increasingly affordable. By taking the advantage of lowering prices and tax benefits, you can move towards a greener lifestyle without spending too much.
Green Energy Is Less Expensive
After the initial investment of installing solar panels or another renewable energy source, these green energy sources are much less expensive than other varieties. For most people, their solar panels will produce enough energy for them to run their homes. And in fact, in many cases, they will produce excess energy that they can sell back to the grid. This means not needing to pay utility payments each month, which can greatly reduce your monthly cost of living. Over time, your renewable energy will pay for itself.
Making the move to live a green lifestyle is important for individuals and the world in general. And while it is important, it doesn’t need to be expensive. It’s never too early or too late to start living greener, and it’s okay to take the process one step at a time so you don’t get overwhelmed.
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by Mrs C | Aug 19, 2021 | Blog
As you see your parents age and retire, you are probably feeling a variety of different emotions. You probably feel excitement for them to step out of the workforce while simultaneously feeling a bit of anxiety about how the next phase of life will treat them. Thinking about all the main aspects of a successful retirement will help you have peace of mind.
Maximize Social Security Benefits
Helping your aging parents navigate the process of accessing their social security benefits can be challenging. Start by helping them figure out when they actually want to start collecting the benefits—most individuals will be eligible to collect social security monthly checks once they retire and turn 65. However, if an individual was born after 1960, they have to wait till they are 67.
Deciding on the right time to actually access the funds will vary from situation to situation. But the longer you wait to access your benefits, the more money you tend to get.
Account for All Assets
In addition to helping your parents make decisions about their social security, you should also help them understand their total assets. Understanding all the assets available to them can help you best determine where to allocate those assets to ensure they have a comfortable retirement.
And in fact, some non-liquid assets can actually be used for a variety of services that are important for elderly individuals. For example, home equity can be used to pay for long-term care expenses like an assisted living facility.
Figure Out a Quality Care Plan
Figuring out a quality care plan should be one of your main priorities when it comes to helping your parents be prepared for retirement. It’s essential that you talk with them about how they want to be cared for as they near their later stages of life.
Be willing to ask the hard questions about their situation—is there someone in your family willing and able to take care of them as their needs become more demanding? Is there a plan B in case that isn’t possible? Think through the different options to ensure you can really help them through the aging process.
As you watch your parents retire, make sure that they have the care they really need. Ensuring they will be comfortable in their latter years requires early preparation and thought. Don’t put off these conversations too late.
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by Mrs C | Aug 18, 2021 | Blog
Home ownership is a primary goal for many individuals and families however it is not always the right time. Figuring out whether buying a home is the right choice for you and your family takes a lot of thought in consideration. Here are a few things to keep in mind to help you decide whether or not you should buy a home.
Think of Your Long-Term Plan
Owning your own home can save you money over renting and help you to build equity, but it works better as a long-term investment. That’s why it’s important to have a good idea of your long-term plans before purchasing a home. If you are planning on staying in the same area for the foreseeable future, then purchasing a home is probably a good idea. But if you have plans to move in the near future then you may want to hold off and continue saving. Basically, you want to make sure that your timing in choosing a home matches up with your overall plans.
Consider Costs
It’s important to have a good idea of all your home costs before you make the decision to purchase a home. From your mortgage to insurance and maintenance there are many costs involved in homeownership. But there are things you can do to decrease your costs and make home ownership more affordable. For example, the materials to choose can decrease both your upfront costs and your maintenance costs. Some choices like installing a metal roof can save you money over time. It’s all about making smart decisions.
Think About Your Family’s Needs
Every family has specific needs that they need to have met by their living situation. It’s important to consider the needs of your family before you purchase a home. In some cases, it is easier to find a rental that fits your needs than it is to find a new home that will fit the same needs. That said, you may be able to find a home that is perfectly suited to the needs of your family. Just think about things like the location, the cost, and the amenities the home will provide to help you make your decision.
Owning a home can be incredibly satisfying and it’s a way to start building up equity so you have more money to your name. But it also comes with some pretty hefty upfront costs and responsibilities that renters do not have. That’s why you need to be careful and make the right choice for you and your family.
Read this next: How to Find a Place to Live When the Housing Market Has Priced You Out
by Mrs C | Aug 11, 2021 | Blog
The life of a parent is full of responsibilities and stressors, but it also comes with a variety I’m awesome experiences that make it worthwhile. One of the things you need to do as a parent is to try to help your children to develop good habits that will help them to be financially secure later in life. That’s a pretty big task to take on but with a little planning, you can definitely make it happen.
Help Them Save for College
One of the most important financial things your children have coming up as they near adulthood is being able to pay for college. Helping your children to start saving for college now will help them to develop a habit of saving. One way to make this happen is to match the savings they put into their college fund. You can also put a certain amount of money towards their college on their birthday each year. In addition, you should encourage them to regularly contribute to their own college fund, so they develop a regular habit of saving money.
Create an Estate Plan
Many people are nervous to create an estate plan and try to put it off as long as possible. However, creating a plan for your estate is essential, especially if you are a parent. Everyone with a family needs an estate plan to carry out last wishes and secure children’s future. Planning your estate also helps you to lead your children by example and show them the importance of planning for the future. No one can ever know exactly what life has in store for them but doing your estate planning can help you to prepare your children financially for the future.
Teach Them about Budgeting
One of the most important skills a person should have is the ability to budget effectively. This is a skill that you should start teaching your children as early as possible. At first, you can teach budgeting by simply showing your children how you do things like budget for groceries and meal plan. As they get older and have more of their own money you can help them to budget to save for things they want.
Every child deserves the best possible chance for financial success when they grow up. As a parent, you have the power to help them build that success in their childhood and continue learning about finances as they get older. Then they will be able to live their adult lives independently and securely.
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by Mrs C | Aug 11, 2021 | Blog
It’s a horrifyingly hot summer in the US, and until we turn back the clock on climate change, that’s not changing. With some states experiencing record temperatures of 119-123 degrees Fahrenheit, and homeowners attempting to remain cool however they can, it’s important to save both energy and your money when cooling your home. Here’s how to help save money on your energy bills.
Window Tinting
There are more options than ever before for both UV protectant and decorative appeals. Many run between 5 and ten dollars a square foot, plus installation. There are professional grade tints which are professionally applied, custom cut to perfectly fit your window. These are longer lasting than the customer grade materials available to self-cut, though there have been better options for purchase in that realm as well. However, when installing on your whole home, and with the goal to reduce electricity costs, hiring an expert is really best. They not only are well practiced in their specialized field, but they also understand what sort of sun is hitting varied windows in your house, and how best applications can help you.
Solar Panels
Solar hardware produces clean, renewable electricity at little to no cost which can then be used to power everything in your home. Your local energy company would love to install solar panels on your house, and to maintain them for you while giving you a discount. There are state options for savings at the moment, but you’ll need to act quickly to purchase before the end of 2021. Banks are offering loans for solar panels, and generally the cost is paid off in just a few years, leaving the remaining savings in your own account.
Insulation
You need a loft of over twelve inches of standard blown insulation. There are excellent options for expanding foam insulation, which are slightly more expensive, but exceptionally effective for insulating within walls. While insulating a 1200 sq foot home might cost around a thousand dollars, if you’re saving sixty to a hundred dollars a month in energy costs, your initial cost will be paid off in a little over a year, if not less.
You want to be doing your best to keep your family cool during this climate disaster, until our leadership nationally chooses to encourage corporate changes which will curb the shift. Until then, do what you can, write to your senators, and stay cool!
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by Mrs C | Aug 10, 2021 | Blog
Buying a house when the market is hot is a complicated prospect. You want a home, but it seems like any time you even begin to look it gets snatched out from underneath you. You have a list of things you want, and things you need, and that makes things confusing as well. How can you avoid making major mistakes when buying a house, especially in a hot market?
Hire a Real Estate Agent
It can seem like it would take less effort, or save on commission, to not have an agent. However, especially in a hot market, having an agent is key to finding and getting a contract on a home. They have access to knowledge about market trends, homes about to be listed, and other insider information. According to Investopedia, a good agent will be able to narrow down what things you need and want and show you those homes, so that you can make a decision quickly if necessary.
Get an Inspection
It can seem like a nice shortcut to jump over having house inspections and whatnot but do not skip this critical step. Your agent can help you find a good inspector. According to J Bixler Inspections, inspections typically take several hours to complete. They should be thorough. You and the owner should both be there if possible, during the inspection, but if not, your agent can act on your behalf. You should get the written notes, and your agent can help you with further negotiation.
Money Matters…Matter
According to Pat O’Brien and Associates, one of the biggest mistakes buyers make is not getting preapproved with their lender and knowing how much they can actually afford. It can be easy to fall in love with a home just outside of the amount your agency or lender says you can afford, but not realize that there are other factors at play with your finances. When lenders approve you, they consider how much you make as a factor of how much you can afford. They do not, however, factor in medical bills, educational loans, child support, or other factors which affect your money.
It’s critical to have all your finances in line before searching for your new home. With a great agent, you can get everything in line, with an inspection, and contracts. Have a list of your wants and needs in a home. Pretty soon you’ll be moving into a beautiful new home with all the amenities you’ve desired!
Read this next: How to Find a Place to Live When the Housing Market Has Priced You Out
