Almost everyone loves Thanksgiving – it is a time for giving thanks, being with friends family and eating good food. And it does not need to be expensive. A turkey is really not a costly bird to purchase. In fact why do we eat it only once a year? I got a free turkey the other day in the supermarket (having spent a certain amount on groceries) and decided to cook it for a Sunday dinner. While you don’t need to go into all the trappings it was pleasant to sit around the table eating the juicy healthy meat of turkey, stuffing, gravy and such.
We are all stretched – time is one of the most sought after intangibles in this century apparently. Cooking can take time, but actually putting a roast in the oven can pay off in so many ways. It’s actually not that time consuming. Most roasts are not that expensive. Your home will smell wonderful and it calls for that most special of events – a family sitting around the dinner table enjoying good food and conversation.
I always make more – we are a family of leftovers. If your family professes to hating leftovers don’t tell them! It’s amazing how you can reinvent a meal by adding mushrooms, vegetables, and a sauce for example. As a result you have achieved both a cost saving and time saving. You don’t have to make a completely new meal and you don’t have to purchase a take-out salty meal. You and your family win.
Every year companies lose thousands of dollars because employees fall sick with the flu. About 5% - 20% of Americans catch the flu every year. Flu season officially started about a month ago. Many employers encourage their employees to get a flu shot. These flu shots are often subsidized and many pharmacies have flu shot hours. Over 145 million doses of the flu vaccine will be dispensed this season. You can get one for around $15.00 - $25.00.
Not only should you consider getting a flu shot, but you should also consider a flu shot for your kids, depending on age and recommendation from your pediatrician. Children getting the flu generally means mom or dad has to stay home to care for their child, potentially resulting in loss of wages for the parent and loss of productivity for the employer.
Interestingly, Google just launched a flu tracker- a free service that tracks the number of flu cases in the U.S. Flu Trends is actually compiled by putting together the number of searches related to flu, coughs, colds, fever, etc. in countries with influenza outbreaks. They have found a high correlation between Internet searches and actual flu symptoms. You can go online and see if your area is showing a high likelihood of flu and take action accordingly – either by getting the flu shot or ensuring you are all eating more healthy foods, taking supplements and getting plenty of rest.
Of course, the CDC (Center for Disease control) has official tracking methodology, but this requires counting actual reported cases of influenza outbreaks. This is not an immediate source of data. So for speed, sites like Flu Trends are a good proxy.
Sometimes the way to the American Dream of home ownership is through unconventional circumstances. For example, you may enter into a partnership on a house purchase without the legal rights of marriage. What considerations do you have to watch out for in such an arrangement? How can you assure your rights of ownership in case of problematic situations like death or break-up? Here is an examination of the home partnership quandary…
Unmarried Obstacle
Couples and partners who are unmarried (either by choice or law) face many tax complications when applying for joint home ownership. In the event of break-up, for example, married couples who are divorcing can transfer ownership of a house without tax penalties. But unmarried partners, if a split occurs, might face excise or gift taxes when transferring ownership.
Cohabitation Agreements
Besides communicating succinctly on shared financial accounts and funds, unmarried couples can draw up a “Cohabitation Agreement,” which is essentially a legal documentation of all assets (including the house) and instructions for the maintenance of same. Establishing and authorizing a durable power of attorney is another option, and can allow a partner to access accounts and pay off bills if his or her partner is incapacitated.
A Will, A Way
Drawing up a will offers the best protection in the partnership scenario for home owners. Distinct guidelines for transfer of the home in case of death of one or the other can put a calm against the potential for any other claims among heirs.
Of course, this is a cursory glance into the aspects of home partnerships. For more information, consult a real estate professional, attorney or tax consultant.
The mantra of real estate — location, location, location — also can apply to the equity in your home. If you live in an expensive market (even in this economic downturn), such as parts of the Northeast or California, now might be the time to make that move you have always been thinking about - to a region of the country where you can get more house bang for your buck. Not only do you get more but you can also lower monthly mortgage installments and pay off debt. Here are the considerations for cashing in on home equity.
American Dream Benefit
There are several ways to manage extra home equity. You can take out a home equity loan to take care of extra expenses, but this has become very difficult for people with less than tip top credit. Or you can cash out and move to an area of the country where housing and land are cheaper.
Housing Costs and Lifestyle
The house is the biggest expense for most families in the U.S. In some parts of the country, a large percentage of monthly budgets go for the mortgage. If you struggle with monthly upkeep on this payment, and you live in a more lucrative housing market, you would be a good candidate for cash in and move on. Also if you are working out of your home, and location is not a concern for commutes or family, a cash-in and move on may yield a dream home.
With the economy is a funk, it may be the right time to assess your lifestyle, budget and home costs to see if your home equity can lead to a more affordable life.
The other day I was talking with a friend about the economy, and discussing the new world for consumer borrowers. My friend was considering obtaining an unsecured loan. Our discussion spurred a question: why, and when, is an unsecured loan a good thing for a good borrower? After all, isn’t a secured loan usually a lower APR? Here’s the quick list we came up with:
1. Nothing to use as collateral. Many people may not own a home, or a vehicle to pledge as collateral. There are plenty of legitimate reasons even the most financially sound person might not own a home, or may use public transportation. Without collateral, a secured loan is not an option.
2. Convenience. Even when looking to buy a vehicle (a common reason to seek a secured loan), sometimes it’s just more convenient to go for an unsecured personal loan. When you’re buying a used car from a private party, traditional auto financing isn’t so neat and easy. My credit union wants borrowers to “secure the sale”, fill out a form with VIN, and wait up to 2 days for processing to get a check. But what car seller is going to wait for that if they have another offer? Other banks are more practical in their requirements, but sometimes a personal loan still involves less paperwork and hassle.
3. Not wanting to tie down your collateral. Plenty of homeowners in today’s economy will tell you how complicated things get when you need to sell your home but owe more than it’s currently worth. Secondary debts not related to buying the home or car complicate things further. Someone who plans to move in the next year or two might avoid using their home as collateral and instead turn to a personal loan, and even someone not explicitly planning to move might shy away from a home equity line of credit —just to keep their options open.
4. Does a secured loan really involve a lower APR? For someone with excellent credit, the interest rate on a secured loan to purchase an item with traditionally higher interest rates (such as a motorcycle or RV), may not be much lower than an unsecured personal loan. And for someone looking to secure a loan with their home, the loan fees are typically high. To truly determine which loan costs less in the long run, it will often come down to comparing fees— not interest rates.
Almost everyone loves Thanksgiving – it is a time for giving thanks, being with friends family and eating good food. And it does not need to be expensive. A turkey is really not a costly bird to purchase. In fact why do we eat it only once a year? I got a free turkey the other day in the supermarket (having spent a certain amount on groceries) and decided to cook it for a Sunday dinner. While you don’t need to go into all the trappings it was pleasant to sit around the table eating the juicy healthy meat of turkey, stuffing, gravy and such.
Every year companies lose thousands of dollars because employees fall sick with the flu. About 5% - 20% of Americans catch the flu every year. Flu season officially started about a month ago. Many employers encourage their employees to get a flu shot. These flu shots are often subsidized and many pharmacies have flu shot hours. Over 145 million doses of the flu vaccine will be dispensed this season. You can get one for around $15.00 - $25.00.
Sometimes the way to the American Dream of home ownership is through unconventional circumstances. For example, you may enter into a partnership on a house purchase without the legal rights of marriage. What considerations do you have to watch out for in such an arrangement? How can you assure your rights of ownership in case of problematic situations like death or break-up? Here is an examination of the home partnership quandary…
The mantra of real estate — location, location, location — also can apply to the equity in your home. If you live in an expensive market (even in this economic downturn), such as parts of the Northeast or California, now might be the time to make that move you have always been thinking about - to a region of the country where you can get more house bang for your buck. Not only do you get more but you can also lower monthly mortgage installments and pay off debt. Here are the considerations for cashing in on home equity.
The other day I was talking with a friend about the economy, and discussing the new world for consumer borrowers. My friend was considering obtaining an unsecured loan. Our discussion spurred a question: why, and when, is an unsecured loan a good thing for a good borrower? After all, isn’t a secured loan usually a lower APR? Here’s the quick list we came up with:
