8 Hidden Problems in the Bedroom You Might Not Spot in a Home Video Tour

bedroom virtual tourFeverpitched

Video tours have quickly become the norm in the COVID-19 era as a safe way to get a closer look at the house you want to see in person. And while no doubt the kitchen and living room are high on your list to check out, the bedroom deserves more than a passing glance.

After all, a bedroom isn’t just a place to catch some zzz’s; it’s also a place that can function as a retreat or a quiet workspace. For your kids, it’s a room to play, do homework, and host sleepovers. And sure, a bedroom’s size and closet space are important—but they’re not the only things you should ask to see during a video tour. In fact, glossing over the bedroom could mean huge peeves after you buy—or worse, real problems that cost you money.

Here are some potential issues you might find hiding in the boudoir.

1. It might not actually be a bedroom

“Many listings will call a bonus room a bedroom even if it does not have a closet and a window, which is technically not correct, ” says John Gluch, founder of the Gluch Group in Scottsdale, AZ.

The legal requirements for classifying a room as a bedroom vary by state. Still, while taking the video tour, you should verify that bedrooms have a door and a window as two means of escape in an emergency.

The ceiling should be tall enough for a person to comfortably stand, and the square footage sufficient to accommodate a bed.

Be sure to ask your agent if the room is legally considered a bedroom.

2. There’s no privacy

Photo by Creative Window Designs 

Have your agent scan the windows and sills to check their condition. Take note of features such as triple-pane or tilt-and-turn windows.

Finally, check the view.

“You’ll want to know if a large, beautiful window in the master bedroom lacks privacy and looks right into a neighbor’s yard,” says Jennifer Smith, a Realtor® with Southern Dream Homes in Wake Forest, NC.

3. The fixtures and outlets are dated or in bad shape

“Buyers’ eyes tend to naturally go toward the beautifully made bed with lots of accent pillows and the art hanging on the walls,” Smith says. “But it’s important to remember to look at the more permanent features of the room that you’ll have to live with day to day.”

Ask your agent to zoom in on things like the flooring, ceiling fan, light fixtures, smoke and carbon monoxide detectors, and heating and cooling vents. Is there a radiator hiding behind the headboard or an air conditioner in the window?

Be sure to find out how many outlets are in the room. Older houses often have fewer outlets, and they may be the outdated, two-prong variety, which isn’t grounded.

4. The early morning sun will wake you up

Photo by Gaetano Hardwood Floors, Inc.

Oodles of natural light is a coveted feature—unless the morning sunlight wakes you up hours before your alarm goes off.

“Many Realtors and home buyers who visit a property at varying times throughout the day unintentionally fail to consider what the exposure is like at 5:30 a.m. with the sunrise,” says Gluch.

Curtains and blinds are obvious solutions, but you may not want to cover windows that showcase a beautiful view or are placed high in a vaulted ceiling.

5. Your furniture won’t fit

Whether it’s a large master suite or a children’s bedroom, pay attention to how much furniture is in the room and how it’s arranged, Smith says.

“Staging declutters and depersonalizes a space as much as possible, so buyers should think about how their current belongings will fit or if they’d have to buy all-new furniture,” says Smith.

Ask the listing agent for the dimensions of the bed and/or dresser for comparison. But if the dresser is missing, it could mean the bedroom has a large closet with organizational options.

Ask to see inside all the closets, and make note of the size, shelves, and other organizational components.

6. The bedrooms are in an inconvenient location

It’s easy to get disoriented when you’re taking a live video tour, so “buyers shouldn’t forget to pay attention to where bedrooms are located in the house,” Smith advises.

Ask yourself how the locations of the bedroom will suit your lifestyle. Will you be more comfortable with the kids’ bedrooms on the same floor? Is the master suite adjacent to a busy living room or kitchen? Where are the bathrooms in reference to the bedrooms?

7. The master bathroom doesn’t offer separation

Photo by Elad Gonen 

A spacious master suite isn’t just a place to rest your weary head at night. It’s your future dream retreat, where you can sink into a soothing bath or luxuriate in a rainfall shower. But if you want a bit of privacy, be mindful of how the master suite is laid out.

“Many people overlook the fact that there is not a door between the bedroom and the bathroom,” says Gluch. “Likewise, many floor plans now have a water closet—a small toilet room with a door—but do not have a door separating the bedroom from the rest of the bath.”

8. There might be potential safety hazards

If you’re looking at a multilevel home or a house with a bedroom in the basement, verify fire escape routes.

“Consider potential safety hazards such as how difficult it might be to drop a fire escape ladder out of an upstairs bedroom window or a ladder up from a basement bedroom,” says Gluch.

Basement bedrooms should have an egress window, and upper-floor windows should be clear of obstructions like trees or sections of the house that would make an emergency exit difficult.

The post 8 Hidden Problems in the Bedroom You Might Not Spot in a Home Video Tour appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

Home Buyer’s Guide: How to Purchase a Property, From Start to Finish [Free Download]

Purchasing a home is both exciting and a major milestone in your life, so you’ll want to be prepared for what to expect to avoid a stressful process. Having an in-depth look at the buyer’s journey can help you make informed and confident decisions.

From finding a real estate agent, negotiating offers to getting your keys on closing day, we’ve outlined all the steps of a home buyer’s journey in our free Buyer’s Guide, which you can download here.

The Buyer’s Guide will cover the buyer’s timeline from meeting an agent to preparing for closing day. We’ve outlined the 8 steps in a home buyer’s journey below.

1. Working With An Agent

Every city is filled with thousands of agents, but not all are equal. We believe it is important to choose an agent that you feel confident with. Before you commit to working with an agent, make sure you have a good understanding of the knowledge and experience they offer. It’s important that you ask your questions before making the decision to work with them.

2. Financing Your Purchase

Before you set a budget and start looking for a home, you’ll have to understand what costs to expect when purchasing a home. Here are some of the major costs involved:

  • Deposits
  • Down payments
  • Mortgage insurance
  • Closing costs

You’ll also want to calculate a rough estimate of the down payment that you will be expected to pay. Depending on the price of your home, your minimum down payment can range from 5% to 20%. If you’re interested in learning more about how to finance your home, you can get our free Financing Your Purchase guide here.

3. Searching For A Home

An important part of searching for a home is understanding how the home will fit with your needs and your lifestyle. You’ll want to consider home ownership as well as different types of properties and features. 

Types of Home Ownership

  • Freehold Ownership
    • You purchase the home and directly own the lot of land it sits on
  • Condominium Ownership
    • For condos, you own specific parts of one building: titled ownership of your unit, along with shared ownership in the condo corporation that owns the common spaces and amenities
  • Co-Op Ownership
    • You own an exact portion of the building as a whole and also have exclusive use of your unit

Types of Properties

  • Detached houses
  • Semi-detached houses
  • Attached houses
  • Condos and apartments
  • Multi-unit

Tip: Depending on your budget and desired location, you may need to be flexible to find a home that meets your needs. By being willing to trade some features for others, you’ll have more options to choose from.

4. Negotiating An Offer

When you are making an offer to purchase a home, the purchase agreement should include the essential components listed below. Your agent can help put together an offer that is compelling, while safeguarding your interests and puts you in a competitive position to secure your new home.

You’ll also have the opportunity to choose the conditions that you’ll want in your offer. Some of these may include a home inspection or a status certificate review.

5. Financial Due Diligence

Whenever you make an offer on a house, you need to provide a deposit to secure the offer. The deposit is in the form of a certified cheque, bank draft, or wire transfer; it’s held in trust by the selling brokerage and is applied towards your down payment if your offer is successful.

There are two types of deposits:

  • Upon acceptance
    • The deposit is provided within 24 hours of the seller choosing your offer
  • Herewith
    • The deposit is provided when the offer is made

6. Property Due Diligence

To firm up a deal or educate yourself more on the state of the property, you’ll likely want to have a home inspection if you’re purchasing a house. If you’re purchasing a condo, then your lawyer will review the building’s status certificate.

Home Inspection

A home inspector will assess elements of the home such as the walls, windows, plumbing, heating and roof to judge the condition of the home. This process is non-invasive and is essential to help provide buyers with a good idea of the home’s current condition and the confidence of putting in an offer. 

Tip: The home inspector will provide a summary of suggested work along with a minimum budget estimate for the repairs needed. 

Status Certificates

If you’re purchasing a condominium, you’ll need to obtain a status certificate from the condo board or management for your lawyer’s review. This document will include valuable information about the condo’s budget, legal issues, reserve fund, maintenance fees and future fees increases – and the lawyer can help identify potential red flags

7. Preparing For Closing

Before the big day, you’ll want to keep a checklist of what to do ahead of time. Some of these include:

  • Review your contract
  • Complete a final walkthrough of the home
  • Purchase home insurance
  • Meet with your lawyer
  • Know how much cash you’ll need
  • Secure cash required for closing

8. Closing Day

Closing Day is when you’ll finally get the keys to your new home! In addition to bringing the cash required for closing, you’ll have to sign a few more documents which will include:

  • Mortgage loan
  • Title transfer
  • Statement of adjustments
  • Tax certificates

For the full details on the home buyer’s journey including examples, advice, pictures and sample calculations, download a copy of our free Buyer’s Guide here.

The post Home Buyer’s Guide: How to Purchase a Property, From Start to Finish [Free Download] appeared first on Zoocasa Blog.

Source: zoocasa.com

Dear Penny: My Rich Boyfriend Worries I’ll Burden Him if We Marry

Dear Penny,
Discussing how you’ll split the bills is a vital conversation if you’re merging lives. Some couples choose to keep their finances completely separate, and that’s OK.
It’s been a wonderful two years. You’re talking about growing old together. Then the conversation turns to how little money you make and how you might be a burden to your boyfriend later on.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Life can also change. What if the two of you married and he got sick, so you had to become his caregiver? Would you think of him as a burden then?
-R

He makes significantly more than I do (between four to five times as much), and he worries that my low income means I’ll be a burden on him when we get older if we decide to marry. The way I see it, I am very responsible with the money I do make. I don’t have any debt, and I pay all my own bills. 
This may be a painful discussion. You may not like the answer you hear. But I suspect a likelier outcome is no answer at all — just a bunch of hemming and hawing. If that’s what you get, then you have your answer.
Do you have any advice for us? This is one neither of us knows how to navigate.
One thing I have to wonder about based on what you told me is whether this is about money at all. Imagine your salary were to quadruple tomorrow. Do you think your boyfriend would be enthusiastic about your future together? Or do you think he’d find another hang-up?
I’m a 35-year-old female who’s divorced, and my boyfriend is 38 and never married. We’ve been dating for two years, and it’s been wonderful. Recently, we’ve been having talks about our future, but money is a bit of a hang-up for him. 
Source: thepennyhoarder.com
That doesn’t sound wonderful to me. That sounds cruel.
Your value goes way beyond your salary. Please don’t waste your time trying to build a future with anyone who doesn’t recognize that.
Paychecks change. There’s no guarantee your boyfriend will always be a high earner. And just because you have a low income at 35 in the midst of a pandemic doesn’t mean you’ll always have a low income. That’s not to say that there’s anything wrong with not having a high salary. But I don’t want you defining your potential by what you earn right now.
Dear R.,
Most couples encounter this situation to at least a degree. Few people will marry someone whose salary is identical to theirs for their entire careers. You’re marrying a person, not a paycheck.
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder. Send your tricky money questions to AskPenny@thepennyhoarder.com.
It sounds like this is a topic the two of you have been dancing around for some time. This is going to require a brutally honest conversation. Your boyfriend needs to decide whether he  can treat someone who makes way less than he does as an equal partner and back it up with action. Until then, any discussions about how to handle finances are premature.
I’m not asking him for anything, although I do understand that at this rate my retirement savings will be meager while his will be substantial. That could lead to problems if he wants to travel and not feel bitter about having to pay for me for everything later on. 
Ultimately, this is your boyfriend’s hang-up. You’re living within your means. There’s nothing wrong with you just because you can’t afford to live within his means.
But you’re not ready to have that conversation yet. That’s because of a problem that, at least as you’ve described to me, exists entirely in your boyfriend’s head. It doesn’t sound like there’s a concern about whether you can afford a life together. He has no reason to worry that you’ll run up debt or drain his bank account. Is he seriously worried that the bitterness he’d feel over money would overshadow his happiness should he build a life with you? You really need to establish that now so that you can move on if the answer is yes.
Is he willing to shoulder a greater share of the bills for the privilege of building a life with you? Or is he willing to adapt to your more frugal lifestyle so he can have the peace of mind of knowing he never contributed an extra cent? His call.
For some people, money is very much a dealbreaker. But other people get really antsy when they start talking about the future. So they look for a dealbreaker — any dealbreaker — to make you think that you’re the one with the problem, not them. I’m not saying that’s necessarily the case here, but it’s fodder for you to consider. You need to know if you’re dealing with a cheapskate or a commitment-phobe dressed in a cheapskate’s clothes.
But the control factor also worries me here. If you got married and he paid most of the bills, could he still approach this as a true partnership of equals? Or would he make you feel like a child asking a parent for allowance money?

Apartments With Move-in Specials

Right now is a fantastic time to be looking for a new apartment home in Washington, DC. The past few years’ construction boom has added a surplus of apartment inventory to the market. The result of extra apartment inventory = move-in specials!

If you are willing to commit to a longer lease term you can score anywhere between one to three months free! Plus if you can make a quick decision, apartments are offering additional incentives like $250 gift cards, free parking, free meal delivery services, and more.

Move-in specials used to only be found at new construction buildings that were just opening up. With all the extra apartment inventory in DC now, the interesting thing we are seeing is that older buildings are getting in on the concession game, too! So it’s possible to get one or two months free at the more budget-friendly buildings.

We’re starting a list of apartment specials here and will add to it as we find more. Hear of an awesome special? Drop us a line at info@apartminty.com and we’ll be sure to add it to the list!


Avec on H Street

Get up to two months free + $250 gift card

901 H Street NE, Washington, DC Text with an agent: 855-283-1852 Speak with an agent 833-758-5743

Avec on H is a new apartment building on H Street NE. The building has a huge rooftop with a pool, outdoor living rooms with heaters, conversation areas with firepits, and grilling areas. The building has studios, one, two, and three-bedroom apartments starting at $1564. You can get the two-months free movein special by choosing a longer lease term and if you apply within 48 hours of your apartment tour, you get the additional $250 gift card. They are offering self-guided tours and virtual tours. Check out Avec floorplans here.


Dupont-apartments-exterior

Dupont Apartments

Get up to two months free!

1717 20th Street NW, Washington, DC

Speak with an agent 833-300-3125

Dupont Apartments is located just two blocks from the Dupont Circle metro stop. The smaller apartment building doesn’t have all the bells and whistles of a new luxury building, but the prices are great and the location can’t be beaten! The building has studios and one-bedroom apartments starting at $1490. You can get the two-months free move-in special on any available apartment right now. They are offering self-guided tours and virtual tours. Check out Dupont Apartments floorplans here.


aura-pentagon-city-move-in-special

Aura Pentagon City

Get up to two months free!

1221 South Eads Street, Arlington, VA Speak with an agent 877-472-3092

Aura Pentagon City is located in the heart of Pentagon City. Living here means an easy commute to the Pentagon, Boeing, and the new Amazon HQ2! The building has two rooftop pools, 24-hour concierge, fitness center, and complimentary coffee service! Apartment sizes range from studios up to two-bedrooms and come equipped with large closets, full-size washers and dryers, and gas ranges. You can get the two-months free move-in special on specific apartments right now. Check out Aura floorplans here.


2800-Woodley-apartments-with-move-in-specials

2800 Woodley

Get Six Weeks free!

2800 Woodley Road, NW Washington, DC Speak with an agent 833-226-4798

2800 Woodley is on a residential street in the Woodley Park neighborhood. Just four blocks from the Woodley Park/Adams Morgan metro station, this is a great apartment for car-free living lifestyle. However, the residential street does allow for street parking. This rent-control building has a stunning lobby and some of the friendliest front desk employees you will ever meet. The rent is inclusive of all utilities with the exception of cable/internet. Apartment sizes range from studios up to two-bedrooms and come equipped with large closets, wood parquet floors, and gas ranges. You can get the six weeks free move-in special on any available apartment right now. Check out their floorplans here.


Baystate-Apartments-move-in-specials

Baystate

Get up to Two Months Free!

1701 Massachusetts NW Washington, DC Speak with an agent 833-716-9395

Located on Massachusetts Avenue, NW The Baystate is made up of 111 studio apartments. The building offers package receiving and pick-up/delivery dry cleaning service. There is on-site management and for your convenience a mobile app to submit work orders or pay your rent. There are an on-site laundry room and fitness center. In the warmer months, you can enjoy the rooftop deck. Studio apartments at this property start at only $1395! You can get the two-months free move-in special on any available apartment right now. Check out their floorplans here.

Read Apartments With Move-in Specials on Apartminty.

Source: blog.apartminty.com

16 Small Steps You Can Take Now to Improve Your Finances

Pretty brunette with moneybox in hands

You have all kinds of financial goals you want to achieve, but where should you begin? There are so many different aspects of money management that it can be difficult to find a starting point when trying to achieve financial success. If you’re feeling lost and overwhelmed, take a deep breath. Progress can be made in tiny, manageable steps. Here’s are 16 small things you can do right now to improve your overall financial health. (See also: These 13 Numbers Are Crucial to Understanding Your Finances)

1. Create a household budget

The biggest step toward effective money management is making a household budget. You first need to figure out exactly how much money comes in each month. Once you have that number, organize your budget in order of financial priorities: essential living expenses, contributions to retirement savings, repaying debt, and any entertainment or lifestyle costs. Having a clear picture of exactly how much is coming in and going out every month is key to reaching your financial goals.

2. Calculate your net worth

Simply put, your net worth is the total of your assets minus your debts and liabilities. You’re left with a positive or negative number. If the number is positive, you’re on the up and up. If the number is negative — which is especially common for young people just starting out — you’ll need to keep chipping away at debt.

Remember that certain assets, like your home, count on both sides of the ledger. While you may have mortgage debt, it is secured by the resale value of your home. (See also: 10 Ways to Increase Your Net Worth This Year)

3. Review your credit reports

Your credit history determines your creditworthiness, including the interest rates you pay on loans and credit cards. It can also affect your employment opportunities and living options. Every 12 months, you can check your credit report from each of the three major credit bureaus (Experian, TransUnion, and Equifax) for free at annualcreditreport.com. It may also be a good idea to request one report from one bureau every four months, so you can keep an eye on your credit throughout the year without paying for it.

Regularly checking your credit report will help you stay on top of every account in your name and can alert you to fraudulent activity.

4. Check your credit score

Your FICO score can range from 300-850. The higher the score, the better. Keep in mind that two of the most important factors that go into making up your credit score are your payment history, specifically negative information, and how much debt you’re carrying: the type of debts, and how much available credit you have at any given time. (See also: How to Boost Your Credit Score in Just 30 Days)

5. Set a monthly savings amount

Transferring a set amount of money to a savings account at the same time you pay your other monthly bills helps ensure that you’re regularly and intentionally saving money for the future. Waiting to see if you have any money left over after paying for all your other discretionary lifestyle expenses can lead to uneven amounts or no savings at all.

6. Make minimum payments on all debts

The first step to maintaining a good credit standing is to avoid making late payments. Build your minimum debt reduction payments into your budget. Then, look for any extra money you can put toward paying down debt principal. (See also: The Fastest Way to Pay Off $10,000 in Credit Card Debt)

7. Increase your retirement saving rate by 1 percent

Your retirement savings and saving rate are the most important determinants of your overall financial success. Strive to save 15 percent of your income for most of your career for retirement, and that includes any employer match you may receive. If you’re not saving that amount yet, plan ahead for ways you can reach that goal. For example, increase your saving rate every time you get a bonus or raise.

8. Open an IRA

An IRA is an easy and accessible retirement savings vehicle that anyone with earned income can access (although you can’t contribute to a traditional IRA past age 70½). Unlike an employer-sponsored account, like a 401(k), an IRA gives you access to unlimited investment choices and is not attached to any particular employer. (See also: Stop Believing These 5 Myths About IRAs)

9. Update your account beneficiaries

Certain assets, like retirement accounts and insurance policies, have their own beneficiary designations and will be distributed based on who you have listed on those documents — not necessarily according to your estate planning documents. Review these every year and whenever you have a major life event, like a marriage.

10. Review your employer benefits

The monetary value of your employment includes your salary in addition to any other employer-provided benefits. Consider these extras part of your wealth-building tools and review them on a yearly basis. For example, a Flexible Spending Arrangement (FSA) can help pay for current health care expenses through your employer and a Health Savings Account (HSA) can help you pay for medical expenses now and in retirement. (See also: 8 Myths About Health Savings Accounts — Debunked!)

11. Review your W-4

The W-4 form you filled out when you first started your job dictates how much your employer withholds for taxes — and you can make changes to it. If you get a refund at tax time, adjusting your tax withholdings can be an easy way to increase your take-home pay. Also, remember to review this form when you have a major life event, like a marriage or after the birth of a child. (See also: Are You Withholding the Right Amount of Taxes from Your Paycheck?)

12. Ponder your need for life insurance

In general, if someone is dependent upon your income, then you may need a life insurance policy. When determining how much insurance you need, consider protecting assets and paying off all outstanding debts, as well as retirement and college costs. (See also: 15 Surprising Insurance Policies You Might Need)

13. Check your FDIC insurance coverage

First, make sure that the banking institutions you use are FDIC insured. For credit unions, you’ll want to confirm it’s a National Credit Union Administration (NCUA) federally-covered institution. Federal deposit insurance protects up to $250,000 of your deposits for each type of bank account you have. To determine your account coverage at a single bank or various banks, visit FDIC.gov.

14. Check your Social Security statements

Set up an online account at SSA.gov to confirm your work and income history and to get an idea of what types of benefits, if any, you’re entitled to — including retirement and disability.

15. Set one financial goal to achieve it by the end of the year

An important part of financial success is recognizing where you need to focus your energy in terms of certain financial goals, like having a fully funded emergency account, for example.

If you’re overwhelmed by trying to simultaneously work on reaching all of your goals, pick one that you can focus on and achieve it by the end of the year. Examples include paying off a credit card, contributing to an IRA, or saving $500.

16. Take a one-month spending break

Unfortunately, you can never take a break from paying your bills, but you do have complete control over how you spend your discretionary income. And that may be the only way to make some progress toward some of your savings goals. Try trimming some of your lifestyle expenses for just one month to cushion your checking or savings account. You could start by bringing your own lunch to work every day or meal-planning for the week to keep your grocery bill lower and forgo eating out. (See also: How a Simple "Do Not Buy" List Keeps Money in Your Pocket)

Like this article? Pin it!

With the new year here, it’s time to take control of your financial goals. From creating a household budget, to calculating your net worth, or setting a monthly savings amount, we’ve got 16 small steps you can take to improve your finances. | #personalfinance #moneymatters #budgeting


Source: feeds.killeraces.com

Are All the Food Delivery and Subscription Services Worth It?

We’re living in an age of convenience. Groceries can be delivered, clothes can be picked out for you and just about every TV show and movie ever made can be beamed straight into your living room. If I had the money, I could get pretty much everything I need without ever leaving my house.

But unfortunately, I don’t have the money. Do you?

As our society has collectively fallen in love with subscription services, many of us have let them take over our budget. Because these are recurring expenses, it’s all too easy to sign up and forget about your card being charged every month.

It’s time to finally ask yourself -are all of these subscription services worth the money?

Are You Spending Too Much on Subscription Services?

Before you can decide if meal subscription and delivery services are eating up too much of your budget, you have to figure out how much you’re spending on them. This is a very subjective and personal question that depends on your income, total spending and other goals.

Look at your monthly subscription and food delivery spending in Mint, checking to see if the numbers align with your budget. Take the time to sort and categorize the transactions if you haven’t done so in a while. It may help to look through several month’s worth of expenses, because some subscription services like FabFitFun only ship once a quarter.

Spending may also vary based on the seasons or other external factors. You may spend more on food delivery services during final exams because you’re too busy to meal plan. If the seasons change and you don’t have any clothes, you may spend more on personal styling services.

Once you have an accurate account of how much you spend, compare it to your income and other expenses. Spending $50 a week on a meal kit service doesn’t mean anything without context. You need to know how that compares to your other expenses.

How to Cut Down on Subscription Services

If you found that you’re overspending on subscription services, it doesn’t mean that you need to cut them out entirely. Think about how much value each service provides to your life, and prioritize where your money is going.

Make a list of all the subscription services you currently have and how much you spend on them each month. Then rank the subscription and delivery services from most important to least.

Write down how often you actually use the products or services. Be honest with yourself. The goal is to keep the boxes and services that you actually use, love and enjoy on a regular basis. This can help you identify which services don’t fit into your lifestyle – or budget.

Try to be as objective and ruthless as possible here. Yes, you may love getting the monthly Stitch Fix box in the mail, but do you actually keep the clothes they send? Learning to cook with Blue Apron may be a worthy goal, but do you actually like the meals they send?

Once you have a list of essential subscriptions, look at your budget again and determine how much money is left for those services. If the available amount is greater than the total cost, you’re in the clear.

However, if the amount is more than you can afford, it’s time to go back to the drawing board. If you absolutely can’t bear the thought of parting with your subscriptions, you’ll have to look at cuts you can make in other spending categories.

How to Save on Subscription Services

Chances are, you’re paying more for some of your subscription services than is absolutely necessary. Most video streaming services let you watch multiple screens at once so you can split it with friends or family. Some even have student deals if you have a university email address. Your school may even have its own special agreements with certain providers.

If there are a lot of subscription services you want to keep, consider alternating which ones you use throughout the year. Most subscription and delivery services make it easy to cancel and resubscribe later.

For example, if you have a beauty box subscription and a bathroom full of toiletries, quit the service until you’ve used most of the products. Many of these products expire, so you’ll be saving money and cutting down on waste.

If you subscribe services but only use them during a particular season, like a streaming service tied to a seasonal sport, get rid of them and reactivate when you’re ready. You can also do this with streaming services that only have a few shows you’re interested in. Once you’re done watching Stranger Things, for example, you can deactivate your Netflix membership for no penalty.

Seek Alternative Ways to Save

Looking for cheaper versions of your favorite services can also help you avoid overspending. Some grocery stores now have meal kits similar to Blue Apron or HelloFresh. It’s not as convenient, but it’s a much more affordable alternative.

Many companies give customers referral codes they can send out to friends and family. When people use your referral codes, you’ll earn free credit or cash. For example, Barkbox provides a free month if someone signs up for a six or 12-month membership through your referral link.

Sometimes companies will have a special coupon for new customers that use referral codes, like Stitch Fix who provide a $25 bonus for both the new customer and the one who referred them.

You can share these links on social media, by text or through email. Some programs have a limit on how much you can earn with referral codes, but it never hurts to try. If you end up exceeding that amount, you can apply for their official affiliate program to earn cash instead of credit.

If you do cancel a program, check your bank account to make sure you’re no longer paying for it. Some services are guilty of occasionally charging former subscribers even after they’ve quit.

Which subscription service are you going to cut back on this year? Let us know in the comments!

The post Are All the Food Delivery and Subscription Services Worth It? appeared first on MintLife Blog.

Source: mint.intuit.com

The Best Student Loan Companies For Refinancing

Refinancing your student loans can make good financial sense, and that’s especially true if your current loans are stuck at a high-interest rate. With a new loan at a lower APR, you could save a bundle of money on interest each month and ultimately pay your student debt off faster. Consolidating several loans into one new one can also simplify your financial life and make keeping up with bills a lot easier.

College Ave and Earnest topped our list, but since student loan refinancing is an incredibly competitive space, you’ll also want to spend time comparing student loan companies to see who offers the best deal. Many lenders in this space offer incredibly low APRs, flexible payment options, borrower incentives, and more. This means it’s more important than ever to shop around so you wind up with the best student loan for your needs.

What You Should Know About Refinancing Federal Student Loans with a Private Lender

The lenders on this list can help you consolidate and refinance both federal student loans and private student loans. However, there are a few details to be aware of before you refinance federal loans with a private lender.

Switching federal loans to private means giving up federal protections like deferment and forbearance. You also give up your chance to qualify for income-driven repayment plans like Pay As You Earn (PAYE) or Income Based Repayment (IBR). Income-driven repayment plans let you pay a percentage of your discretionary income for 20 to 25 years before ultimately forgiving your remaining loan balances, so this perk isn’t one you should give up without careful thought and consideration.

Best Student Loan Refinancing Companies of 2021

As you start your search to find the best student loan for your lifestyle, take the time to compare lenders and all they offer their customers. While there are a ton of reputable companies offering high-quality student loan refinancing products on the market today, there are also companies you should probably steer clear of.

To make your search easier, we took the time to compare most of the top lenders in this space in terms of interest rates offered, fees, borrower benefits, and more. The following student loan companies are the cream of the crop, so you should start your search here.

Our Top Picks:

  1. Splash Financial
  2. College Ave
  3. Earnest
  4. SoFi
  5. CommonBond
  6. LendKey
  7. Wells Fargo
  8. PenFed Credit Union

Student Loan Refinancing Company Reviews

1. Splash Financial

Splash Financial may be a newer company in the student loan refinancing space, but their offerings are competitive. This company lets you check your rate online without a hard inquiry on your credit report, and their variable rates currently start at just 2.25% APR.

Not only are interest rates offered by Splash Financial industry-leading, but the company has a 95% customer satisfaction rate so far. Their cutting-edge technology also lets you apply for your loan and complete the loan process online, meaning less hassle and stress for you as the borrower.

Check Out Splash Financial’s Low Rates

2. College Ave

College Ave offers student loan refinancing products that can be tailored to your needs. They offer low fixed and variable interest rates, for example, and you’ll never pay an application fee or an origination fee. You can even qualify for a discount if you set your loan up on autopay, and a wide range of repayment schedules are available.

College Ave also offers a wide range of online calculators and tools that can help you figure out how much student loan refinancing could help you save and whether the move would be worth it in the end. Considering their low variable rates start at just 2.74% APR, there’s a good chance you could save money by refinancing if you have excellent credit or a cosigner with great credit.

Get Started with College Ave

3. Earnest

Earnest is another online lender that focuses most of its efforts on offering high-quality student loans. This company lets you consolidate debt at a lower interest rate than you might find elsewhere, and you get the option to pick a monthly payment and repayment period that works with your budget and your lifestyle.

While you’ll need excellent credit to qualify for the lowest interest rates, loans from Earnest come with variable APRs starting at 1.81% and low fixed rates starting at just 3.45%. To qualify for student loan refinancing with Earnest, you’ll need a minimum credit score of 650 and a strong employment and income history. You also need to be current on all your bills and cannot have a bankruptcy on your credit profile.

Refinance and Save with Earnest

4. SoFi

Also make sure to check out student loan refinancing company SoFi as you continue your search. This online lender offers some of the best student loan refinancing products available today, including loans with no application fee, origination fee, or hidden fees.

SoFi lets you apply for and complete the entire loan process online, and they offer live customer support 7 days a week. You can also check your rate online without a hard inquiry on your credit report, which makes it easier to see how much you could save before you commit.

Get Pre-Approved with SoFi in Less than 2 Minutes

5. Commonbond

Commonbond is another online student lender who lets you check your rate online without a hard inquiry on your credit report. With student loan refinancing from Commonbond, you could easily save thousands of dollars on interest with a new fixed interest rate as low as 3.21%. Repayment terms are offered for 5 to 20 years as well, letting you choose a new monthly payment and repayment timeline that works for your needs.

You can apply for your new loan online and note that these loans don’t come with an origination fee or any prepayment penalties. Your loan could also qualify for forbearance, which means having up to 24 months without payments during times of financial hardship.

Apply Online with Commonbond

6. LendKey

LendKey offers private student loans and flexible student loan refinancing options to serve a variety of needs. You can repay your loan between 5 and 20 years, and their refinance loans don’t charge an origination fee.

You can use this company’s online interface to check your rate without a hard inquiry on your credit report, and variable APRs start at just 2.01% for graduates with excellent credit. LendKey loans also receive 9.3 out of 10 possible stars in recent reviews, meaning their customers are mostly happy with their decision to go with this company.

Save Thousands by Refinancing with LendKey

7. Wells Fargo

While Wells Fargo is mostly popular for their banking products, home mortgage products, and personal loans, this bank also offers student loan refinancing products. These loans let you consolidate student debts into a new loan with a low variable or fixed interest rate, and you can even score a discount for setting your loan up on autopay.

Terms for Wells Fargo loans are available anywhere from 5 to 20 years, meaning you can choose a repayment schedule and monthly payment that suits your needs. Wells Fargo also lets you check your rate online without a hard inquiry on your credit report.

Get Started with Wells Fargo

8. PenFed Credit Union

PenFed Credit Union offers unique student loan products powered by Purefy. You might be able to qualify for a lower interest rate that could lead to enormous interest savings over time, and PenFed lets you choose a repayment term and monthly payment that fits with your budget and lifestyle.

You can apply for student loan refinancing on your own, but PenFed Credit Union also allows cosigners. Low fixed interest rates start at just 3.48% APR, and you can check your rate online without a hard inquiry on your credit report.

Learn More about PenFed Credit Union

What To Look For When Refinancing

If you decide you want to refinance your student loans, you’ll be happy to know the refinancing market is more robust than ever. A variety of lenders offer insanely attractive loan options for those who can qualify, although you should know that student loan companies tend to be very finicky about your credit score. Some also won’t let you refinance if you didn’t graduate from college, or even if you graduated from an “unapproved” school.

While you should be aware of any lender-specific eligibility requirements before you apply with any student loan company, there are plenty of other factors to look out for. Here’s everything you should look for in a student loan refinancing company before you decide to trust them with your loans.

Low Interest Rate

Obviously, the main reason you’re probably thinking of refinancing your loans is the potential to save money on interest. Lenders who offer the lowest rates available today can potentially help you save more, although it’s important to consider that you may not qualify for the lowest rates available if you don’t have excellent credit.

Cosigner Requirements

Also consider that most lenders will offer better rates and loan terms if you have a cosigner with better credit than you have. This is especially true if your credit isn’t great, so make sure to ask family members if they’re willing to cosign on your new student loan if you hope to get the best rate. Just remember that your cosigner will be jointly liable for repayment, meaning you could quickly damage your relationship if you default on your loan and leave them holding the bag.

Low Fees or No Fees

Student loans are like any other loan in the fact that some charge higher fees or more fees than others. Since many student loans come with an application fee or an origination fee, you’ll want to look for lenders that don’t charge these fees. Also check for hidden fees like prepayment penalties.

Discounts Available

Some student loan companies let you qualify for discounts, the most popular of which is a discount for using autopay. If you’re able and willing to set up automatic payments on your credit card, you could save .25% or .50% off your interest rate depending on the lender you go with.

Rate Check Option

Many of the top student loan refinancing companies on this list make it possible to check your interest rate online without a hard inquiry on your credit report. This is a huge benefit since knowing your rate can help you figure out if refinancing is even worth it before you take the time to fill out a full loan application.

Flexible Repayment Plan

Also make sure any lender you go with offers some flexibility in your repayment plan and your monthly payment. You’ll want to make sure refinancing aligns with your long-term financial goals and your monthly budget, and it’s crucial to choose a new loan with a monthly payment you can live with.

Most lenders in this space offer repayment timelines of up to 20 years, which means you could spread your payments over several decades to get a monthly payment that makes sense with your income. Keep in mind, however, that you’ll pay more interest over the life of your loan when you take a long time to pay it off, so you may want to consider prioritizing a faster payment plan.

The Bottom Line

Student loan refinancing may not sound like a lot of fun. However, taking the time to consider all your loan options could easily save you thousands of dollars. This is especially true if you have a lot of debt at a high interest rate. By consolidating all your student loans into a new one with a lower APR, you could make loan repayment easier with a single payment and save a ton of money that would otherwise go to straight to interest without helping you pay off your loans.

The first step of the loan process is the hardest, however, and that’s choosing a student loan refinancing company that you trust. The lenders on this list are highly rated, but they also offer some of the best loan products on the market today.

  • Work with College Ave, our top pick, to refinance your student loan.

Start your search here and you’re bound to wind up with a student loan you can live with. At the very least, you’ll have a better idea of the loans that are available and how much you might save if you decide to refinance later on.

The post The Best Student Loan Companies For Refinancing appeared first on Good Financial Cents®.

Source: goodfinancialcents.com