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4 Low-Cost Updates to Make to Your Home This Summer

July 6, 2023 By Leave a Comment

Your home needs constant care and regular updates so that it can stay in great shape. This may call for a lot of money, something that’s difficult if you have a debt to deal with. The good news is that there are a number of low-cost updates that you can make to your home this summer so that you keep it in an amazing state without getting even deeper into debt than you already are.

1. Upgrade Your Bedding

One of the best and most affordable upgrades that you can make to your home is to upgrade the bedding. While at it, you can get a new mattress, especially if you’ve had your current one for a long time. If you want to go shopping for a new mattress, keep in mind that spring mattresses have been around since 1857 and they’re still one of the most popular types of mattresses. This means that you should look into getting a spring mattress that’s good quality. When you do this, and pair this purchase with a few good bed sheets and bed covers, you may make your bedroom a lot more comfortable.

2. Clean Your Home’s Exterior

Next, it’s surprising what a thorough cleaning can help you achieve for your home. This is the case for both your home’s interior and the exterior. If you don’t have any experience working with a pressure washer, you may want to look into exactly how to do it. Alternatively, you could hire a professional to come and pressure-wash your home’s siding. This will take away all the dirt and grime that’s accumulated over the past seasons, leaving your home looking as good as new. Keep in mind that the average cost of installing vinyl siding comes up to anywhere from about $4.15 to $15.25 per square foot, according to This Old House. This is a tidy sum that you’ll have to pay for damaging your home’s siding if it’s not already in a state that needs repairs. That said, it’s best to try and avoid this from becoming an eventuality.

3. Declutter Thoroughly

Another low-cost upgrade that you could make to your home this summer is to do a thorough decluttering of your home. This only needs time and able hands, so you can set aside a free afternoon or a weekend, depending on the size of your house and how much clutter you have in the house. You can collect items, appliances, and other things that you no longer use in your home and either give them away or sell them. By selling them, you can take a proactive step towards getting money that will help you manage your debt and finances. While you may be a long way away from a bankruptcy filing, keep in mind that one of these remains on your credit report for up to 10 years. It’s therefore good to do all that you can do to avoid this from becoming an eventuality in any way.

4. Paint The Interior

The final low-cost upgrade that you can make to your home in summer is to paint the interior. While it’s generally possible to negotiate and get a fair price for your painting job, you can save even more money by doing it yourself. If you’re in good physical shape and can find a few people to help, all you need to do is to look for instructions online. These can help you get the job done well and teach you a thing or two that you might benefit from in the future.

Consider making any or all of these upgrades to your home this summer. They don’t have to break the bank and add on to the debt that you have to deal with. They can help you save some money while keeping your home in amazing shape.

Filed Under: Money

10 Tips for Affording Your Child’s Extracurriculars

June 16, 2023 By Leave a Comment

Extracurricular activities are a great way for your child to socialize, build confidence, and take a break from electronic devices. They can also be dealbreakers on college and job applications. However, having your kids in many afterschool activities can be costly without going into debt. Children with divorced parents spend 277 days out of the year with their custodial parent. If you’re in charge of your child for the majority of the year, here are ten ways you can afford all of your child’s extracurriculars.

1. Ask for Discounts

It never hurts to ask! The worst that could happen is you’ll get a no. Sometimes, you can get discounts for military service, being a teacher, or having multiple kids enrolled in the same activity. Many programs are reluctant to publicize discounts because they can get more profit.

2. Register Early

Many programs have the best prices if you are one of the first to register. Getting in quickly is important, especially for popular activities for kids and teens like swimming. According to the U.S. Census Bureau, nearly 40% of kids between ages seven and 17 swims six times yearly compared to only 15% of adults.

3. Try Music

Music lessons are usually a less expensive (and educational) alternative to other extracurricular activities. You can rent instruments or negotiate music lessons for a lower price.

4. Try After-School Activities

Afterschool activities are usually more cost-effective than other programs. Plus, they might help with your child’s homework or other school projects. Parents also like afterschool activities for convenience. They are already familiar with the school, drop off and pick up, and the employees who work there.

5. Foreign Language

Another unconventional extracurricular activity is learning a foreign language. There are many ways to learn this skill at a lower cost through private tutors and educational software. Plus, it’s a great skill for your child to learn. According to Healthy Children, about 20% of U.S. children speak another language other than English, while Spanish is the most common non-English one.

6. Borrow Materials

There’s a good chance someone you know has shoes, dresses, sports equipment, or other miscellaneous items not being used. They wouldn’t mind repurposing it to benefit someone else instead of giving it to the Salvation Army. Also, avoid the temptation to get unnecessary equipment. It will not only kill your pocketbook, but many items are probably not even used.

7. Create a Budget

Give your kids a strict activity budget at the beginning of the year. Your kids can pick which activities they prefer and track their spending.

8. Get Involved

Many leagues or after-school programs offer discounts or scholarships for volunteers or coaches. It’s a great way to save money and engage in your children’s activities. You have to spend time taking them to the activity, so why not get involved?

9. Look for Financial Assistance

It’s also not a bad idea to ask the program director for any scholarships or available financial help. The coach or director may offer you a discount or connect you with other small businesses that can help in exchange for promoting their business with bumper stickers or a t-shirt.

10. Try a Non-Profit Organization

Non-profit organizations like the YMCA, the Boys and Girls Club, Boy Scouts, and Girl Scouts usually have cheaper programs than the alternative. Plus, they have a great moral fabric to teach your kids strong ethics and cooperation with others.

Getting your child involved in extracurricular activities doesn’t have to cost an arm and a leg. Extracurriculars are beneficial to your child’s growth and development, but you’ll also be teaching them to budget and prioritize. You can also help your child contribute to the costs by doing extra chores, babysitting, or selling baked goods. Keep these tips in mind for getting the most of your money from extracurricular activities.

Filed Under: Personal Finance

What to Do If Your Credit Card Has Been Stolen

June 15, 2023 By Leave a Comment

Having your credit card information stolen can be terrifying, especially if you’re amongst the seven out of 10 Americans living paycheck to paycheck. Here’s what you need to do if your credit card or debit card information has been stolen.

Inform Your Credit Card Provider

Up to 17% of people lose something on a daily basis, and losing your credit card isn’t something you ever want to do.  The very first step that you need to take is to inform your credit card provider about this loss. Let them know that you’ve lost your card and find out if there’s anything that they can do right away. The sooner you report the loss to your credit card providers, the easier it will be for you to do away with the possibility of suffering a massive loss of funds and ending up in debt. This is because you have no idea what someone with ill intentions is going to use your card for, so it’s a good idea to try and do damage control as soon as you can.

Freeze Your Accounts

The next step that you need to take is to freeze your accounts. When you call your credit card provider, find out if they can freeze the card immediately so that no transactions can be done with it. Once they cancel it, keep in mind that this doesn’t mean that your account has been closed. They’ll send you a brand new card to use, which may take up to 10 days to process. You can also check online to see if it’s possible to cancel your card and freeze your accounts via the Internet as soon as possible. This can be faster than waiting for a representative to listen to you and start the process of closing your account.

Change Your Passwords

Remember that it’s crucial for you to change your passwords immediately. You may not know what other information the person who took your card has, so the best call is to ensure that they can’t go far. Note that keeping passwords secure is an extremely important measure, and by 2031, there will be over 200 billion IoT Devices at risk, according to Digacore. Clearly, it’s a good idea to start the practice of setting secure passwords and changing these passwords in case of a leak of information or something similar. If there are any specific accounts that you realize have been hacked, it’s a good idea for you to change the login details of these accounts as well.

Increase Online Security

Last but not least, take measures to boost your online security. This involves steps such as keeping a close watch on your credit card accounts. Sign up for alerts for transactions if you don’t have them set up. This can help you spot fraudulent activity on your card that will enable you to act fast in case of a risk. You could also sign up for credit monitoring services, of which there are free and paid options. These can spot potential fraudulent activity and alert you to take the necessary steps to secure your account. Note that researchers believe that data breaches exposed more than 4 billion records in the first half of 2019 alone. Such leaks may be a common occurrence, so it’s important to try and stay on top of activities involving your credit cards.

Take these steps when your credit card gets stolen so that you have a chance to secure it. There are far-reaching implications of losing your credit card to a thief, one of which is getting a decrease in your credit score. Make sure that you don’t end up paying for money that was stolen from you by staying vigilant of the activities that involve your credit cards. This can help you secure your finances and avoid getting into debt that you didn’t rack up yourself.

Filed Under: Personal Finance

9 Tips for Affording a Roofing Replacement

May 30, 2023 By Leave a Comment

Roofing replacement is a significant investment for homeowners, but it’s a necessary one to ensure the safety and protection of your property. However, the cost of a roofing replacement can be very high and lead to debt, and the actual price depends on factors such as the size of your roof, the materials used, and the complexity of the project. Here are 9 tips to consider if you’re looking for ways to afford a roofing replacement.

1. Assess the Size of Your Roof

According to Roofers Guild, the average U.S. residential roof is 1,600 square feet. Before getting any estimates, measure the size of your roof to get an accurate understanding of the scope of the project. Once you’ve done this, you’ll have an accurate idea of the materials needed and which will help you provide a basis for cost estimates.

2. Consider Longevity

When choosing roofing materials, consider their lifespan. While traditional asphalt roofing materials have an estimated life expectancy of 12-20 years, metal roofs can last significantly longer, ranging from 40-70 years depending on the material. Investing in a longer-lasting roof may save you money in the long term, as you won’t have to replace it as frequently.

3. Research Different Materials

Explore the various roofing materials available and compare their costs, durability, and maintenance requirements. While some materials may be more expensive upfront, they might offer better long-term value due to their longevity and energy efficiency. Consult with roofing professionals to understand which material will best meet your needs.

4. Get Multiple Quotes

Obtain quotes from multiple roofing contractors to compare prices and services. It’s essential to get detailed written estimates that include the price of materials, labor, legal documents, and any additional services. Don’t automatically choose the lowest bid, as you should always consider the reputation and experience of the contractor as well.

5. Explore Financing Options

If the upfront cost of a roofing replacement is challenging to afford, explore financing options. Many roofing companies offer financing plans or partnerships with lenders to help homeowners spread out the cost over time. Consider the interest rates, terms, and monthly payments when evaluating financing options.

6. Check for Insurance Coverage

Review your homeowner’s insurance policy and check if it covers roof replacements due to storm damage or other covered perils. If your roof replacement is a result of an insurable event, contact your insurance provider to understand the coverage and the claims process.

7. Plan Ahead and Save

Start planning for a replacement in advance, before your roof reaches the end of its lifespan. Try to set aside money each month in a dedicated savings account specifically for your roofing project. By saving gradually, you can accumulate the necessary funds over time and reduce the financial strain.

8. Consider the Return on Investment

A new asphalt shingle roof has an estimated return on investment (ROI) of about 62%. While this may not cover the entire cost of the replacement, it’s a significant return that can add value to your property. Keep in mind that other roofing materials, such as metal or slate, may have different ROI percentages, so weigh the potential long-term benefits when making your decision.

9. Time Your Roofing Replacement Strategically

Timing can play a big role in the cost of a roofing replacement. Consider scheduling your project during the off-peak season for roofers. Typically, roofing companies may have reduced rates or special offers during slower months when demand is lower. Also, check for promotions or discounts that roofing contractors may offer during certain times of the year.

Affording a roofing replacement is possible with the correct planning and consideration. Before you make any decisions, consider the return on investment and the long-term benefits of the chosen roofing material to avoid future debt. Using these tips, you’ll be better prepared to afford a roofing replacement that ensures the safety and durability of your home for years to come.

Filed Under: Personal Finance, Spending
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