1. You charge group dinners on your card and keep your friends’ cash to spend. I actually don’t mind doing this myself as it saves me a trip to the ATM if I need the cash, but if you’re just being stupid and thinking it’s “free money” to go and blow anytime then yeah – you need a financial makeover.
2. You spend more than 40% of your total income on rent. The last time I calculated this we were spending 37% of our total (net) income on mortgages. And I’ll admit it’s not very savvy. But I’ll also point out that we got ourselves into this BEFORE Mr. J. Money came about ;) So I agree with this one here – ya gotta keep your rent/mortgages way below that 40% line.
3. You’re constantly transferring your balance to get 0% interest on your credit card debt. Bad if you don’t know what you’re doing, but good if you’re Jonathan from My Money Blog (the expert in xfering $20,000+ and milking the extra hundreds of dollars in interest every year;)
4. You pay off one credit card with another. Yes, BAD!!
5. Less than 10% of your income goes to your retirement savings. (Or worse, zero percent!) I wouldn’t say you need a total makeover if you were saving 10% really, even though everyone would love to see you saving 15% or even 25%, but definitely saving 0% is a troubling sign.
6. You have a credit card that doesn’t give you anything in return, like cash back or airline miles. Haha…well this isn’t the worst thing in the world, but it is a good idea to check and makes sure you’re getting *something* in return for doing nothing ;) You don’t have to do anything different than you’re doing now!
7. You don’t know what IRA means outside of Ireland. (is that supposed to be a joke?)
8. You pay the minimum balance on your credit card each month.Not the best habit to get into, that’s for sure. If at all possible you should be adding in at least $25-$50 more every month to help knock it away as fast as you can. I once paid $2,000 for a $1,200 computer back in the day because I kept just telling myself “I’ll do it tomorrow.” Make tomorrow, today!
9. You don’t open your credit card statement because you can’t bear to see how high the balance is. Oh yeah, definitely not a good sign. You HAVE TO KNOW what you’re dealing with so that you can fix it and get right back on track! And this goes for savings and investments too. If you don’t KNOW what’s going on you’ll just keep sinking and sinking until it takes something tragic to snap you out of it.
10. You don’t keep receipts because they remind you of what you’ve spent. Haha…that’s actually pretty clever ;) STUPID, but clever. Maybe these people should switch to debit cards instead? (I’m assuming they’re using credit cards which allow them to spend way more than they have due to credit limits and such. With debit cards though, you have a breaking point! Once you hit $0.00 you can’t pick up anything else.)
11. You know your company has a 401k plan, but you have no idea what that is. My favorite tool ever! Just call up HR real quick (right now, actually, stop reading this!!) and ask how much your company matches. Then, tell your sweet old HR lady (or man) that you’d like to contribute that exact same # and make sure to fill out whatever forms you need to do ASAP. Even if you never look at it again, that one move you just made will hook you up years and years to come. So do it!
12. You withdraw cash frequently from ATM’s that aren’t affiliated with your bank. I don’t know if this one applies as much as maybe it used to. Many banks now reimburse you for your fees so it doesn’t matter where you go (at least online banks do – like my fave USAA, baby!)
13. The number of credit cards in your wallet is higher than the number of dates you’ve had this year. Hahahhahaa…..didn’t see that one coming :)
14. You buy so much on eBay that they’ve awarded you VIP status. Wha wha wha….
15. You want to start a savings account, but then sale season starts again! Is it me or are these going down hill?
16. You don’t have an emergency fund to pay bills should you lose your job. Back in action! YES, emergency funds are KEY to any financial game plan. Whether it’s $100, or $1,000, be sure to be stashing some aside for when you least expect it!
17. Your monthly extra cell phone minute charges are bigger than your monthly electric bill. (I had to go look up my own electric bill to see if this is a good gauge or not, and indeed I think it may. Although if we’re talking about overall cell phone bills and not just “minute charges” then the iPhone kills us!)
18. You overdraw on your checking account more than once a year. Hmmm… once is kinda strict. I’d say not more than 3 times a year cuz sometimes weird things just happen. Although if you were really on top of it you’d sign up for overdraft protection (the kinds that don’t cost you any money!) so that you’d be safe just in case you got a little crazy here and there.
19. You live paycheck to paycheck. This should be the #1 sign you need a makeover, hands down. Living paycheck to paycheck is a recipe for disaster, and I know 80% of you reading this right now are in this boat :( I was too!!! For 25 years of my life! If you haven’t been serious about making a change, please start today. There are plenty of ways you can get yourself in better position, you just have to get on it and really commit. Start tracking your money and finding where all your spending leaks are! Picking up a hustle on the side will help too.
20. You spend more on new shoes annually than you save. Oh wow, that would not be good. I think I’ve spent around $200 so far on shoes this year – and 2 of those were on new cleats that needed replacing. I would punch myself in the face if I was saving less than that every year :(
Were any of you surprised with your answers to some of these? Did it get you to double check and see if you’re truly on track or not? Again, some of these were pretty crazy and more entertaining than anything, but hopefully it moved a few marbles upstairs and will prompt you to start researching any areas that may need improvement. It’s always a work in progress :)
Source
If
you approach the home buying process intelligently and with confidence,
you are much more likely to emerge with a house you'll be proud to call
home.
Granted,
few young people spend much time day-dreaming about buying their first
home. They're naturally preoccupied with academics, athletics, parties,
dating and future career possibilities. Nonetheless, there are a number
of good reasons to start learning early in life about the costs of
buying a home and the responsibilities of homeownership. For example, a
college student's misuse or abuse of credit cards can preclude his or
her buying a home later on.
The
first thing to understand about buying a house is that you don't have
to have all the cash saved up in order to make your purchase.
Thinking about buying a house? Then think about your credit history...the folks who lend money do!
Most lenders don't want you to take out a loan that will overload your ability to repay everybody you owe.
• Hire a stager, inspector, photographer and other professionals as needed.
To make your home stand out it may be smart to throw in some incentives, for instance, include the newer washer and dryer knowing that they will be challenging to move anyway and this will "sweeten the deal" for onlooking buyers.
Beware the agent who promises big profits, Combs says. That person may just be after your business. Don't go with anyone who doesn't use comps. And study sales prices, not asking prices, for real estate.
One question to ask yourself and pose as you interview agents: How will you reach the home's target market? You have to consider who your most likely buyers are for what you're selling and cater to that group of people. Targeting 20-somethings who live on their smartphones? You need to effectively access the networks your buyers are tapping to find their next home. One big trend: QR (or "quick response") bar codes that allow smartphone users to access property information electronically.
The typical starter home can also appeal to downsizing empty nesters. To serve their needs, you might also want to have a phone number that instantly reaches someone who can provide details and answer questions.
And don't neglect the modern version of curb appeal: using lots of photos on real estate listings' websites. However you market your house, you need a good number of clear, well-lit, professional-quality pictures that show your house at its best.
Keeping your house clean is important in every sale. But first-timers are likely selling smaller houses, and clutter can mean the difference between cozy and cramped.
Kitchen and bathroom countertops are another hot spot that many sellers forget to clear. The same chaos that represents your normal routine makes your house seem messy, disorganized and uninviting to buyers.
However, you don't want to remove all traces of human existence. Decluttering is good. But I'm not a big fan of taking all of your personal stuff out. Don't neutralize it so that it's sterile.
Most buyers are lazy. The last thing a new homeowner wants is another 'to-do' list, Ramsey says. So get the home move-in ready before it hits the market so the buyer can start fresh easily.
That means making all the repairs and replacements that you would demand if you were buying the house today. If you have to walk single file up the walkway, trim the bushes. If the garage door is dented, have that fixed or replaced. If you go into a room and say, 'Hmm, I wonder if this carpet is dirty enough to replace?' You have your answer.
First-time sellers are likely selling smaller, starter homes which are popular with first-time buyers and empty-nesters. Neither group is likely to want to spend weekends tackling the jobs that you avoided.
From a presentation standpoint, you want them to feel it's turnkey -- ready to go. Because your competition is doing that. In this market, it's not just a price war but a beauty contest at the same time.
If you're looking to spend some money to make your house memorable, ask someone who knows what will improve the market value.
You might want to paint a stylish blue kitchen tan -- to match the walls of the adjacent open living room and attract more buyers.
The cheapest thing you can do for a house with the biggest bang for the buck is to paint and replace carpet. Recommendation: soft neutrals, which are easy on the eyes and have mass appeal.
Fresh carpet and that new-paint smell are also buyer-bait. Buyers don’t generally get emotionally attached to a carpet-allowance sign. What they fall in love with is the new carpet in the house.
If you're a first time home seller and would like some direction to get the ball rolling, contact us anytime, we'd be glad to tour your home, give you some tips on getting your home ready to sell and fill you in on the entire selling process including sharing with you all the "extra" services we offer. We're here to make sure all your questions get answered and that you don't have to go-it alone. Just call, email or fill out the contact form on the right side of the page and we'll make sure you're selling experience is as stress-free and profitable as possible. We're experienced full time realtors that work together to ensure you receive only the top notch service that you deserve.
The 2013 Spring Parade of Homes hosted by Home Builders Association of F-M will be April 27-May 5.
Modern Market Realtors
The Home Builders Association of Fargo-Moorhead hosts two Parade events each year, one in the spring and one in the fall.
Admission is free.
Description
The spring Parade, held over nine days, will include homes in a wide range of prices built by HBA of F-M builders, each with his or her own distinct style. Bright yellow and blue directional signs and pennants will mark homes participating in the parade.
Hours are 6:30 - 8:30 p.m. weekdays and noon - 5 p.m. weekends.
1. Don’t change plumbing or electrical configurations. Keep your plumbing fixtures and electrical work where they’re at. Instead of moving the plumbing or electrical all over the room, Case recommends for remodelers to “think about supplementing and extending your existing wiring instead of ripping it out and starting over,” which can be much more costly.
2. Find savings in materials. “The cost of cabinets, counters, fixtures, paneling, etc. can constitute up to 70 percent of your remodeling budget,” Case Remodeling notes in its blog. “While labor costs may be hard to reduce, the choice of materials is within your control.” For example, solid surfaces can look similar to marble, and granite tiles may be an option over stone to curb costs.
