Author: Staff Writer

Categories
Credit Financial Real Estate

Buying a Home With a Partner Who Has Bad Credit

Buying a Home With a Partner Who Has Bad Credit

Buying a home is one of the biggest purchases you will ever make. It takes a lot of time and preparation to buy your first home. Sometimes our partner has less than good credit which can complicate the process.

If you have a partner with less than perfect credit, you may want to read below. We will discuss tips to make the buying process better.

Tip 1

If you are married and want the best interest rate on a mortgage, you can buy a home using only one partner’s credit.  Most states consider a property that is bought during a marriage to be both party’s responsibility.

The partner with the better credit puts the house in their name, using their income and credit. While you may not be able to buy as large of a house as if you used both partners’ income, you will get a better interest rate. It will also help your odds of approval.

Tip 2

Save up for a little while longer, and put down a higher down payment. The bank wants to see that you can be responsible for the mortgage payments. If you put down at least 20% as the downpayment on the loan, the bank will see that you have the ability to save.

A higher down payment means a lower mortgage amount, which can help if one partner has bad credit.

Tip 3

Wait until your partner raises their credit. Sometimes waiting is not fun. But in the end, it is worth it. Have your partner take a credit repair course to understand why their credit score is low. Once they understand why they have poor credit, they can begin to fix it.

Credit repair can be done by eliminating debt, paying credit cards and bills on time, and not applying for new credit. After six months to a year, your partners’ credit can be in a better place. Which will help with mortgage approval.

Tip 4

If your partner has bad credit, maybe you should look at buying a smaller home. If one person isn’t good with finances it may not be wise to buy a home that they can’t keep up with. You want to avoid foreclosure at all costs when buying a home.

Think of circumstances where your partner may be the one responsible for the home. If you lose your job or become injured, will your partner be able to take over a large home?

Tip 5

If you want to buy the home of your dreams, but your partner has poor credit, add another stream of income. The more money you make, the more likely you are to be approved for a home.

All Things Considered

With everything you know about the importance of mortgage preparation, you will want to find a plan that works best for you and your partner. You are not out of luck getting a mortgage if your partner has bad credit.

Categories
Career Career & Education

Getting The Most From Your Employer 401k Match

Getting The Most From Your Employer 401k Match

We all want to maximize our money coming in each week. With our jobs and savings, we have more options now than ever to increase profits. Savings accounts accrue interest and our employers supply 401k programs.

But did you know that most employers also have a 401k match program? A 401k is a great way to plan for retirement. Since many employers now offer a match program, growing your retirement fund has never been easier.

A 401k match program is essentially free money. Every time you put money into your 401k, your employer puts money into the account as well.

How To Start A 401k Match Program

Not all employers will offer a 401k match program. But it is never a bad thing to reach out to HR and ask if they do. Ask your employer what options they have available for your 401k.

Some employers will offer a full 100% match, while others offer a 50% match. Depending on the company, you may be able to work up to a 100% match after a few years of employment.

Are There Limits To The Programs?

The most simplified answer to this is, yes. There are limits on 401k match programs depending on the rules set by your employer. No two companies are exactly the same, so your new employer may differ completely from your old employer.

Most employers match up to a certain percentage of your income. For example, let’s say your employer will match 100% of 4% of your income, and you contribute 5% to your 401k. Your total amount contributed would be 9%.

On the other hand, let’s say that your employer will match 50% of 3 percent of your income, and you contribute 1% to your 401k. Your total amount would be 1.5%.

The higher amount you put into your 401k, the higher the match will be. It is always best to put in at least the minimum percent of what they are willing to match. If they match 5%, you should put in 5%. Anything less is essentially losing money that could be offered.

Are Their Caps On My 401k Investment

Yes, there is a cap on your investment. The only drawback to a 401k in my opinion is the limits set on how much you can earn each year.

For 2022, the maximum amount you can contribute is $20,500 for the year. If your employer has a 401k match program, the limit increases to $61,000. If you want to save more money for your retirement you may want to consider an IRA account.

Don’t Exceed Your Limits

Since there are limits on how much you can contribute to your 401k each year, you have to be aware of how much is going into the account. You do not want to exceed your allowed amount because you may be taxed twice on the amount earned. Reach out to HR before tax day to fix the issue and avoid double taxation.

Categories
Financial Loans

Interest Rate Hikes May Come Very Soon

Interest Rate Hikes May Come Sooner

Interest rates, oh interest rates, how we wish you were low forever. But this is not the reality of how interest rates work. And soon, interest rate hikes may grow higher and higher.

During the start of the pandemic, rates were lowered to help grow the economy. If interest rates are low, more people are likely the make purchases using their credit cards or buy homes.

Now that inflation has pushed our economy to the brink, it is expected that interest rates will grow as well. Inflation is at an all-time high, growing more in one year than the previous 30.

It is predicted that interest rates will be raised 3 times during the year 2022. Some people predict that as soon as March hits, rates will begin to climb. They feel the economy has recovered enough that it is time to begin the rate hike.

What Causes Interest Rate Increases?

Interest rate increases are caused by supply and demand. The more people need or want credit, the higher the rates are. The fewer people need or want credit, the lower the rates are.

With the distribution of stimulus checks and government aid during the beginning of the pandemic, people didn’t need as much credit. They were more mindful of their purchases and had the extra cash to buy their necessities.

Now that the government has stopped funding its people, they are back to a new sense of normalcy. Applying for credit and such as they would have before. This means it is time for rate hikes.

Is Inflation A Threat To Our Economy?

Inflation has risen 7% during 2021, and there are no signs that it is stopping anytime soon. Most experts claim that prices will not go back to pre-pandemic levels, and this is our new normal.

Some experts believe that prices will continue to climb well into the year 2024, and with current rates of inflation, that could be devastating for some communities.

Because of the high inflation rates, the cost of rent and other goods are through the roof. These prices are making the average person look for other means to have sustainable living.

What Happens If Interest Rates Increase Too Fast?

If they increase too fast, it could impact the global economy. Many believe it is risky and could be a better solution to keep them low for a while.

Central banks set a standard for rates that are used for loans and debts. When rates skyrocket, fewer people will meet the demand of purchases. Higher interest rates mean a higher cost of goods, and when an economy is already struggling it can be hard to keep up.

Keep In Mind

With high levels of inflation, comes various unforeseen financial drawbacks. We must increase interest rates in order to keep the supply chain satisfied. When we keep rates low for a prolonged amount of time it can hinder the growth of the economy.

Categories
Financial Tax Services

Selling Cryptocurrency to Lower Taxes?

Selling Cryptocurrency to Lower Taxes?

Unless you have been living under a rock, you know about or may even own Cryptocurrency. Cryptocurrencies have been around for about a decade but only recently have become mainstream. If you are thinking about selling your Crypto early in order to lower your taxes, you may want to gain more knowledge before doing so.

When To Sell Your Crypto

Selling Crypto is something that is similar to selling a stock. You buy it at a certain price and sell it for a profit. That is the ideal situation, but sometimes when the market is bearish, you sell early at a loss in fear of losing your full investment.

When you sell your Crypto too early, you will have to pay Short Term Capital Gains taxes, as Crypto is taxed as an asset, not a stock. If you hold and sell your Crypto for less than one year, this tax will apply.

If you choose to hodl, a term meaning to hold your crypto asset for longer than a year, you will not be taxed as a short-term capital gain.

Most “hodlers ” have high hopes for the crypto they choose.

If you choose to sell your crypto after the one-year mark, you will be subject to long-term capital gains taxes, but they are not as steep as short-term.

Does A Bull Market Matter?

A bull market is when the crypto is flourishing and attaining new levels. 2021 was a bull market, with bearish cycles. This means that it moved upward to higher and higher amounts, some reaching their all-time highs. The bearish cycles came into play when those high levels retraced back to a lower amount.

Most cryptocurrencies ended the 2021 year higher than the previous year but not as high as the mid-may bull cycle. Because the second half of the year has bearish tendencies many people became afraid and sold at a loss.

Should I Sell At A Loss

It is up to you whether or not you want to sell at a loss. The crypto market is volatile and fluctuates a lot throughout the year. Selling at a loss on a short-term investment means you could be charged taxes on your loss.

Also, it is possible that the crypto that you sell could rebound quickly and you could miss out on buying it at a good price.

Should I Hold On To My Crypto

If you have the patience to hold your crypto, in hopes that it will one day may you wealthy, this may be the best way to hold off on paying taxes. Especially if you don’t want to pay short-term capital gains tax.

In Conclusion

Whether you bought Bitcoin, Etherium, or another crypto asset, you want to keep track of how much you bought each crypto asset for. You will also want to keep track of when you purchased them, and if you choose to sell, you will want to know if you have held the asset for a year or longer.

The better you are at keeping track of your cryptocurrency the easier it will be during tax season.

Categories
Media Tech & Media

Harry Potter: How I Feel About It 20 Years Later

20 Years Later: How I Feel About Harry Potter

It has been 20 years now since a young boy named Harry Potter took us on a magical adventure in Hogwarts. Since then, the fan base of Harry Potter dramatically increased. Still, people can’t stop talking about Harry Potter and the 8 movie series.

The first day of the year 2022 was special for Potterheads as Warner Bros. organized a 20-year reunion special. Harry Potter fans around the world were excited about New Year’s Day, not because it was the start of another year, but because of the reunion.

1.     Every Potter Fan Was Once a Wizard

If you are from the potter generation then you would know what “wingardium leviosa” is. Do you still remember all the magical spells from the potter world? Why wouldn’t you, because the movie was brilliantly designed. People still remember the character and even dialogues. It wouldn’t be wrong if we say that we were all mentally present in the world of Harry Potter.

2.     The Magical Creatures

Do you remember the three-headed dog named Fluffy, the deathly basilisk, and Aragog the spider? All these creatures, beasts, and animals were created to live inside the wizarding world. The way JK Rowling used her imagination to bring creepy and cute creatures alive and connect emotions to them is simply fascinating. Also, a special shout out to Dobby, the free elf.

3.     Hogwarts is More Than a Set

The way Harry Potter fans remember the secret corridors, heritage, and moving staircase is incredible. On the other hand, when we return to the muggle world everything becomes boring. Admit it, you used to love Hogwarts more than your school, don’t you?

4.     The Breadth of Imagination

From the philosopher stone to the Hogwartz’s castle, everything is merely an imagination. But, Rowling took a major part of the series from real life. She turned normal things into a wizarding parallel universe. For instance, she came up with the idea of Quidditch, from a fight with her brother.

5.     It Gave Us Many Lessons

Throughout the movie serial, there are a plethora of lessons that we learn from Harry Potter. There are numerous incidents of bravery from facing bogarts to killing Voldermort. We can find loyalty, intelligence, and friendship. Talking about loyalty, how can we forget Snape’s action? From the start till his death, we used to believe that he is behind the major setbacks in the movies. But the truth was the opposite. In reality, he was protecting Harry Potter. Didn’t you cry when the actual Snape intention was revealed? We all did.

Conclusion

If you grew up along with that 11 year boy and his friends and dreamt about receiving an invitation letter to join Hogwarts then you will feel the same as they did. Even after the second wizard war, the story continues.

Categories
Health & Home Wellness

Pick-Me-Ups To Make Your Days More Tolerable

10 Pick-Me-Ups To Make Your Days More Tolerable

Sometimes life can get tough and unbearable. Even if you are the strongest person among your friends, workload and stress can turn your mood down. This might put you in a situation where you question your entire life. Trying to find the cause during this time to solve the problem won’t always work. In fact, it rarely works. You need effective techniques to cheer up and feel better.

That doesn’t mean that you have to avoid problems and issues in your life. Instead, step away from these problems for a while and approach them when you feel better and motivated. You can effectively face your issues with a clear mind and a positive outlook. That’s why you should know some pick-me-ups to remind you that you are still okay and things will be better.

Top 10 Pick-Me-Ups

Here are some effective techniques or pick-me-ups to brighten your day between busy routines in life.

1. Open the Windows

If the weather is pleasant, you should open all the windows and let a fresh breeze enter inside your home or office. The smell of grass, little licks of wind, and the chirping of birds will magically bring positivity to your life.

2. Make Your Room Cozier

Turn on the lamps or lit the scented candles as this will make your room comfy. This is one of the easiest pick-me-ups to lift your mood.

3. Make Your Bed

Even if you are not a person who does a lot of chores, you can try this when your life gets unbearable. Making your bed is the least you can do for an instant lift in your heart.

4. Watch Funny Videos

YouTube can play a significant role to change your mood. If you feel exhausted because of excessive work, you can watch cat and dog videos. Also, pranks, funny home videos, and laughing babies can help.

5. Get Back to Your Hobby

Is there anything that you like the most and when you are busy with that activity you forget everything else? This could be gardening, playing a musical instrument, or even writing. Performing activity that you love and enjoy immediately make your heart flutter and give you the pick-me-up you need.

6. Complete a Task

The task doesn’t have to be your daily work. Something that you left unfinished for a long time will work. For instance, continue with the painting you left due to a lack of motivation or a song that you were writing last year. These activities bring your productivity right on track.

7. Take a Walk

Take a break in life and leave your home to walk around your neighborhood or anywhere that you feel like going.

8. Make a Phone Call

Whether you visit your friend or give them a call, you need to talk your problems out. When you interact with someone about your problems you feel lightened. Even if you don’t feel like talking about the problems, discuss your pet.

9. Visit Your Relatives

If your relatives live nearby, you can spend some time with them. This will give you a break from busy activities. If your mom makes the best cookies, then you should try this pick-me-up.

10. Go Shopping

When you purchase something that you wanted for a long time, you will feel happy about it. So, head to the nearest shop and get whatever you feel like purchasing. This can be clothes, shoes, and even new sunglasses.

Conclusion

So select a pick-me-up from the above list and take a break from your busy life. Believe it or not, you will feel motivated and relaxed when you will back to your activities.

Categories
Financial Savings

Set Up Automatic Deposits To Help Save Money

Set Up Automatic Deposits To Help Save Money

We all want to save more money for a rainy day. Sometimes though, when money is in our checking account, we frivolously spend it without a second thought. Then, when a rainy day comes we have no savings. 

Sometimes we need help with separating money that we spend for everyday use and money that we should be saving. If you want to learn how to start saving money without having to manually transfer it into your saving account, continue reading below.

Check With Your Employer For Automatic Deposits

Talking with your employer is the best first step to set up automatic deposits. Did you know that you can have a percentage of your paycheck deposited into a savings account each week while having the rest put into your checking account? 

Putting part of your money into a savings account can keep you from using it. Out of sight, out of mind. Better yet, put it into a savings account that accrues interest for higher yields and faster results.

Use The Round-Up Method To Save Money

A new way to save money is the round-up method. To participate in the round-up method you will need a participating financial institution. The concept of this way of saving is simple. Let’s say you make a purchase for $3.85, the purchase would be rounded up to the nearest dollar. The $.15 that it would take to reach the next dollar amount would be put into your savings account.

The purchase would actually be $4.00, but since the difference would be put into your savings, you would not miss it. That is up to .99 per transaction. After a few purchases, you could already have a steady amount of money saved. 

Keep in mind that these are apps that provide this service. You can’t do this with your regular brick-and-mortar bank. 

Check Your Bank

You can reach out to your bank and ask them if they offer automatic bank transfers. If they do, you can set it up so that a certain amount of money goes into a savings account each week or month. 

Most banks also offer the option of sending money to other banks. If you have your primary account as your checking, and your savings with another bank, it should be no trouble sending money between the two.

Things To Be Aware Of

There are a number of things to be aware of when setting up automated payments. Most of them relate to having sufficient funds in your account.

  1.  Always make sure you have enough money in the bank to cover your purchases and the automatic deposit.
  1. Always ask your bank if there will be any fees associated with the automatic deposit.
  1. Don’t overstretch yourself so that you have too many deposits coming out of your account at once.

The Bottom Line

Sending money has never been easier. Technology has improved the world of banking tremendously. You no longer need to drive from one bank to the other to deposit money for savings.

Categories
Beauty Health & Home

The Biggest Beauty Trends To Try In 2022

The Biggest Beauty Trends To Try In 2022

Beauty trends are evolving every year. For two years, uncertain and unprecedented conditions have negatively influenced experimentation in the beauty industry. 2021 was all about mask products and elevated hygiene. But, not anymore as we are all set to experiment in 2022.

Beauty experts predict that 2022 will be an incredible year for the biggest beauty trends. Fragrances to change mood, to robots that paint nails, scientific hair care treatments, to skin minimalism are some new trends that you should try this year.

1.    Beauty Body Contouring

Body contouring is not a new technique. We used to have similar techniques previously. But unlike traditional methods, advanced body contouring is non-invasive and offers similar results without surgery. For instance, the latest muscle scalping technology will improve your tissue and skin after major weight loss. Furthermore, breast augmentation and a breast lift will remove excess fat and prevent skin from sagging.

2.     Robotic Treatments

In these modern times, human error for beauty treatment is unacceptable. If you always complain about improper nail paints, then get ready. Nimble is a gadget that paints your nails with the help of AI technology, 3D image processing, micro cameras, and tech-y algorithms.

The technology scans each nail and determines the starting and ending points. Once the device identifies the spots that need to be painted, it autonomously gets your nails down. With the help of this device, you can get a perfect manicure in 10 to 15 minutes. Furthermore, the warm airflow system will boost the nail drying time.

3.     DNA-Based Skincare Products

Environmental factors have a major impact on your hair and skin. But, genes determine the way you age. Furthermore, it also influences your skin’s sensitivity and pigmentation. But, with the introduction of DNA-based products things are changing.

With DNA-based skincare products, you can collect data from your DNA sample and analyze variations. Also, the technology translates the data and customizes your skincare treatment process for healthy and beautiful skin. DNA-based products will change the way we take care of our skin and hair.

  • Blue Light Protection

We spend more time in front of screens such as laptops and phones. The blue light from screens is harmful, especially with extended screen timing. Today, people are using various products to prevent the damaging effects of screens.

SPF is a product that has great importance in our life. It protects our skin from UV rays as well as blue light. The blue light emitting from the screen affects our skin’s natural radiance and makes wrinkles and fine lines more prominent. Furthermore, it causes damage to skin cell regeneration.

Conclusion

These are a few top beauty trends to try in 2022. Experts are consistently working on products to improve skin and hair health. Things like gender-neutral products, skin minimalism, and customized skin care products will also bring revolution in the beauty industry. If you want to keep your skin healthy and prevent aging, you can utilize the new trends set to brace this year

Categories
Health & Home Wellness

5 Tips To Get You Through Seasonal Depression

5 Tips To Get You Through Seasonal Depression

Seasonal depression is common among men and women in their twenties. This leads to Seasonal Affective Disorder or SAD, which is another type of depression with symptoms. These symptoms are widespread in women. The symptoms of gloomy weather for an extended period are:

  • Sad and anxious feelings
  • Loss of concentration
  • Loss of interest in usual activities
  • Sleeping more than normal days and still feel tired

The optimal solution for this disorder is routine modification. But, how can you change daily activities when you don’t feel like leaving your bed. Here are a few tips that will get you through the gloomiest season of the year:

1.     Talk with Your Friends

The major reason why people feel depressed during the winter season is because of less social contact. If you don’t have someone to talk to about your life and problems during the low-light season, you will feel lonely. Everyone has private or professional problems in their life. These problems can result in SAD.

A simple chat with a friend or a colleague can help you through this time. Whether you meet them in person or talk on the phone, you will feel better after opening up. No other activity can change your mood quickly than having a cup of coffee with a true friend.

2.     Plan an Outdoor Activity

When you undergo seasonal depression, you should include a stroll in your activity. When you are outside, you will find many interesting things to make your day. Especially when you start your day with a morning walk, you will feel happy and active throughout the day. Exposure to sunlight in the morning will keep you on track.

3.     Try Light Therapy For Your Depression

A lightbox can also help when natural light is not available to brighten up your mood. A lightbox stimulates natural light and suppresses melatonin synthesis in your body. Furthermore, it also increases serotonin levels. Place the light box near your workstation for an hour a day. Your doctor will help choose the right lightbox model. The one that filters harmful UV light is an effective option.

4.     Take Hot and Cold Shower

When you wake up in the morning, take a shower. You might think about how the morning shower can get you through a depressing day? Well, you don’t have to take a normal shower. Alternating the temperature during the shower stimulates circulation and blood pumping. Start with warm water and switch temperature twice.

5.     Start a New Hobby To Take Your Mind Off Of Your Depression

Most people spend their time on the couch binge-watching Netflix shows. This is a good idea to spend your time during depressing days. But, watching movies and web series endlessly can cause nausea and put you back into the same depression.

Changing your hobbies is an effective technique to switch your moods. For instance, reading, baking, and painting are some activities that will keep you going through the season. Also, choose an activity that you always wanted to start.

Conclusion

Hopefully, you will find these tips effective to get through the gloomiest season of the year. One thing to always remember is that things will get better soon. So if you feel depressed, plan your routine and stay busy. Do whatever fascinates you and you can easily get through this period. Don’t fight with the symptoms. Instead, understand and accept the feeling.

Categories
Financial Savings

5 Financial Goals to Make This Year

5 Financial Goals to Make This Year

Saving for things that are currently out of your budget is a wise choice. Whether you are 10 years old and want a bicycle or an adult who wants to buy a new car, saving would be the best goal. But, as you grow up financial management becomes a complicated activity.

So, if you find financial management challenging and want to figure out ways to achieve the unachievable, then you should start by setting up goals. When you have goals in your mind, you can easily stick to a strategy, despite a tight budget. Here are some financial goals that you should include in your New Year’s journal and learn how to achieve them:

1.     Build an Emergency Fund

Normally, people think of an emergency fund as a short-term financial goal. But, that is not entirely true. Emergency funds have long-term financial benefits as well. The emergency fund works as a money management tool. It can help you through medical expenses and job loss.

To create a long-term emergency fund you need to set saving goals. This doesn’t mean that you should have a single large goal. Rather divide this goal into smaller ones to keep a track of them. Start with small but regular contributions. Also, limit your monthly expenses and automate your savings in a separate bank account.

2.     Manage Credit Card Expenses

Interest charges negatively and largely influence your cash flow. Therefore, you should reduce your credit card use. Furthermore, you shouldn’t use a credit card unless you know how you are going to pay. If you have trouble paying for the use, try credit consolidation.

3.     Reduce Your Expenses

When you learn how to manage your expenses, you get complete control over your finance. You should set a goal to spend less than you earn. This means that you need to avoid using a credit card. When you limit your expenses, you get plenty of income for investment, saving, and paying off debt. At first, differentiate between needs and wants. You cannot achieve your financial goals without recognizing extra expenses.

4.     Quit Any Addiction

This might not seem like a financial goal, but you can save a huge amount by quitting any addictions. Whether you are addicted to cigarettes or alcohol, you are wasting your money. Addiction works like a financial parasite that eats up all your money. However, when you quit your addictions, you can add a significant amount in savings. To quit any addiction you need to distract your mind whenever you feel the urge to so end the money on it.

5.     Develop Skills

Adding new skills to your portfolio can lead to large payoffs. If you are a student you can attend workshops and conferences and learn new ideas to earn money. However, if you work in an office, you can take additional training and become an expert. Developing new skills open new opportunities and doors to earn income.

Conclusion

For many people, financial management seems like an irritating task. Keeping track of your income and expense requires more time. But, setting your financial goal will improve your future. If you want to be independent when you get old, you should take control of your finance from now.