by Mrs C | Jul 7, 2022 | Blog
There are a lot of things in life to celebrate. As you cross these milestones, you might be focused on how happy they are, but it’s also important to keep in mind how they will affect you financially. Some events can hit your wallet pretty hard, so it’s good to know what to expect from these life events.
Having a Baby
When you have a baby, it’s more than just the day the baby is born. The total cost begins as soon as the pregnancy does. You need to pay for doctor’s appointments, check-ups, and all other prenatal care. On the day of the birth, there are also several costs. The total amount you pay will cover the cost of your stay in the hospital as well as covering the fees of the obstetrician, anesthesiologist, and anyone else involved. On average, people spend between $5000 and $11,000 on having a baby. Of course, this varies by state and will also depend on your insurance.
Weddings
It’s no secret that weddings are expensive. In most cases, the married couple want to have a large party to celebrate their union. This involves lots of people, food, decorations, and other costs. According to data from 2019, the average cost of a wedding was around $28,000. Of course, there are ways to save. The most simple is to scale things down. A smaller venue and smaller guest list is more manageable financially and perhaps even more enjoyable for the couple. Having a wedding outside of busy seasons can help you save money. Some of the best months to have a less expensive wedding are January, March, April, and November.
Sending a Child to College
A college education can set your child up for a better life by giving them the skills they need to have a meaningful career. However, college is very expensive. You have to consider tuition, textbook costs, rent, living expenses, and more. The total cost can range anywhere from $22,000 a year to $50,000 a year. If you want to be able to afford this, it’s best to start saving as early as possible. This will ease the financial burden once your child does begin college. Of course, you can also take advantage of financial aid options and scholarships to help pay for college.
There are plenty of life events that come with a pretty big price. However, that doesn’t mean you can’t enjoy them. Finding ways to save money, reduce the cost, or ease the financial burden can make these events less of a stress and more of a celebration.
Check out this article on home projects that can accommodate a growing family!
by Mrs C | Jul 6, 2022 | Blog
Adult life comes with what seems to be an endless array of obstacles and challenges that stand in your way. Tackling these challenges is just a part of life, and depending on who you ask, are the real life that we live. One of the many obstacles that life throws into people’s ways is unexpected expenses. They can come from all over the place but are impossible to prepare for and can leave you in a compromised position for your financial future. Here are three ways that you can pay for unexpected expenses in your life.
Tap into Emergency Funds
The first thing that you can do to pay for unexpected expenses that come up in your life is to tap into your emergency funds. Everyone should save an emergency fund to be used in the event of unexpected financial expenses that come up. Start by putting away as much as you can afford each month until you have built up an emergency nest egg that is about six months of living expenses. You can save as much as one year of expenses in an emergency fund to be extra safe. Tapping into your emergency funds prevents you from needing to go into debt.
Use a Loan or Credit Card
Another way that you can pay for unexpected expenses is by using a loan or a credit card. If you can’t afford to pay off your expenses with a debit card, check, or cash, then you can take out a personal loan or pay with a credit card for your expenses. A personal loan can give you quick access to cash when faced with a sudden large expense. This can be useful for situations where you might want additional cash. Using a credit card is another option but be aware of high interest rates on your cards.
Tap Into Home Equity
If you have a large expense that you can’t pay for but own property, you can tap into some of your equity in order to pay for your expenses. Taking out equity in your home is the same idea as selling a portion of your home back to the bank. This can allow you to access some of the value of your home while still getting to live in your home.
Unexpected expenses are bound to happen, but that doesn’t mean that you have to worry about paying. Try these three methods to pay for unexpected expenses as they come up.
Check out this article on how to not let your home consume your entire budget!
by Mrs C | Jun 22, 2022 | Blog
What makes a house a home? There are a myriad of answers, one of which is the level of comfort, both physical and mental, that you enjoy when you’re there. While there are plenty of things that contribute to those feelings of comfort, there is certainly something to be said for how you decorate your home. The thing is, decorating can get expensive surprisingly quickly. So what are some things you can do to decorate your home without breaking the bank?
Use Different Paint Colors
Painting your house is a great way to change up its look and make it more personalized. Paint can get pricey, though, depending on what you’re using. Instead of using a single color for all your walls, you might consider using different paint colors instead. You could create a unique design on your walls with a few carefully chosen paint colors that adds interest to the room, uses less paint overall, and saves you some money.
Buy Second-Hand Furniture
Sometimes buying everything first hand isn’t the practical choice. Sometimes second-hand is the way to go. Flea market furniture can save you money during a remodel. Not only that, but you can also find unique pieces that can add a special something to your home that you would be missing out on if you got brand new furniture. Of course, you always have the option of purchasing second-hand furniture and then fixing it up however you like once you bring it home. You can reupholster it, repaint it, or make other changes, depending on how you want the finished piece to look.
Repurpose Old Items
Depending on the style you’re going for, you may be able to repurpose old belongings as decor both inside and outside of your home. There are some great things you can do with old pots and pans, if you have some that you don’t use anymore. Old watering cans can be turned into planters. Have any lumber? Use it to make benches for your porch or to create your own DIY mudroom.
Decorating your home is just one of the things you can do to make it feel like an actual home as opposed to simply being a house. If you’re working with a tighter budget, you may need to get a little creative. Still, with a little ingenuity and creativity, you’ll find that you’re able to tastefully decorate your house in a way that you’ll be able to enjoy for years to come.
Check out this article on how to limit costs when traveling as a family!
by Mrs C | Jun 22, 2022 | Blog
Have you been wondering how you can make your home a little bit more environmentally friendly while saving money at the same time? There are a few easy upgrades that you can add to your home without having to renovate that will make your home a little greener. Here are a few simple solutions that you should consider if you’re wanting to make your home more environmentally friendly.
Add New Windows
First of all, you should consider adding new windows to your home. Your windows do more than just let light into the interior of your home. They also help you to maintain a comfortable temperature inside. If your windows are old, chances are that they have small cracks or areas where air can leak in and out of your home. This makes it a lot harder to maintain an ideal temperature inside because the air from outside is constantly leaking in. If you add new windows to your house, it will be a lot easier to achieve the ideal temperature inside. This will keep your HVAC system from having to work super hard, and you’ll be able to save money as a result.
Replace Your Lights
Second, another simple solution to make your home a little greener is to replace your lights. Regardless of whether you have an old home or a new construction home, your light bulbs probably aren’t the most efficient. Instead, if you swap out your old light bulbs for LED bulbs, they’ll be more efficient when it comes to using power and electricity. LED light bulbs can reduce your electrical bills every month. Plus, they’ll keep your home bright and well-lit.
Upgrade Your Appliances
Another solution that you should consider is to upgrade your appliances. Many appliances have been designed in a way that isn’t very efficient when it comes to using electricity and water. Some of your appliances or even draining power when they’re not actively being used. This can end up being quite costly for you. Switching out your appliances for energy-efficient models will cost some money, but it will save you even more down the road as you see your bills decrease. Plus, these energy-efficient appliances are also more environmentally friendly when it comes to any exhaust or product that they might have.
If you want to start making changes to your home to allow it to be a little bit greener, remember the suggestions made in this article. You can do things like add new windows, replace your lights, and upgrade your appliances to save money and make a positive impact on your surrounding environment. Once you make these changes you’ll never want to go back!
Read this next: How to Limit Costs When Traveling as a Family
by Mrs C | Jun 15, 2022 | Blog
Owning a home comes with a lot of responsibilities. Owning a home is a long-term investment, and if you take proper care of your home and fulfill your responsibilities as a homeowner, you can protect that investment and grow it into a major source of wealth for you and your family. One of the most crucial responsibilities you have as a homeowner is to fix maintenance issues with your home. This keeps your house damage free and functional. Here are three common maintenance issues that homeowners need to fix with their home to protect their investment.
Gutter Cleaning
The first common maintenance issue that homeowners need to fix is neglecting their gutter cleaning. Your home has gutters to help protect against rain damage. When it flows from your roof, it falls into your gutters, which then guide the water towards a drainage area to prevent flooding in areas of your home that are less well protected against water. If your gutters are clogged or blocked however, water can overflow in areas, and render the gutter system of your home useless. Clean your gutters every few months to make sure that there is no built-up leaves or debris that would prevent proper drainage.
Leaky Pipes
Another common maintenance issue that homeowners need to fix is leaky pipes. Your plumbing is a critical part of the structure of your home, as running water is a necessity in your home. Leaky pipes, if left untreated, can quickly become burst pipes. A burst pipe can lead to serious plumbing issues. This includes major water damage to your home which can cost thousands. Call a plumber as soon as you notice leaking pipes to make sure that everything is squared away with your plumbing system. Water in your home is a serious risk and needs to be taken seriously.
Poor Insulation
The final common maintenance issue that homeowners need to fix is poor insulation in their home. If you find that you spend a lot of money every month on heating and cooling, and that your house changes temperatures with the weather, that is a sign your insulation needs redone. With proper insulation, your home will hold temperature better, and will require less air conditioning and heating to stay comfortable.
Owning a home comes with owning all of the maintenance for the home. Taking care of your home maintenance is a necessity to protect your home and keep it in good shape. Make sure that you aren’t neglecting these three common maintenance issues with your property.
Check out this article on how to not let your home consume your entire budget!
by Mrs C | May 23, 2022 | Blog
When you have a family, there are so many extra things you need to pay for. Diapers, bottles, and baby food are followed by school supplies and extracurriculars that all add up. However, some expenses are bigger than others. These are just a few of the top expenses you can expect for your family.
Housing
Most families’ greatest expense every month is their housing costs. Mortgage and housing payments can cost over $21,000 every year. It’s best to find an affordable housing option for you and your family that is well within your price range. However, with the housing market becoming ever more competitive and expensive, many families struggle to make their housing payments every month. As a general rule, your housing payment should be at or under 30% of your monthly income. Anything higher than that can make fulfilling your other expenses difficult.
Medical Expenses
Another big expense families have to pay for is medical costs. Doctor’s appointments, dentist visits, broken bones, and more all add up to be very expensive. However, the most expensive medical service families have to pay for is often health insurance. Private health insurance can cost thousands of dollars per month. Health insurance is essential for families to be able to receive medical care, and in case of emergency. For example, dental discount plans can help you pay for orthodontic treatment. But these plans don’t usually cover everything, so many families need to pay out of pocket for many medical services.
Transportation
One of the most expensive things families need to pay for is transportation. Wherever you live, there are costs that are associated with traveling to and from work, school, and more. If you own a car, you have to pay your car payment, car insurance, and gas prices every month. These alone can cost you several thousand dollars per year. If you live in a more urban area, you will need to pay for public transport for you and your family. In New York, up to 3 children under 44 inches tall can ride the subway with a paying adult. A 30-day unlimited subway pass costs $127. No matter which option makes the most sense for you, transportation can be a big expense for you and your family.
There are many expenses that come with having a family. It can be difficult to navigate your finances with so many things you need to pay for. It’s important to budget out your income so you know how much you should be spending on each of these expenses.
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