Month: May 2019

Is FIRE A Viable Goal For Everyone?

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Q:  I’m hearing lots of talk about early retirement and I’ve been wondering about thismature couple dancing concept for a while. I love my job, so I don’t really see early retirement as a goal. To me, life without work while I’m still in my physical prime is boring and meaningless. But how can so many popular influencers be wrong?

A: While it sounds like a dream to be able to retire before you hit 40 and to be financially secure enough to walk away from your job without worrying about paying the bills, early retirement is not all sunshine and butterflies. There are many challenges and pitfalls associated with early retirement that you won’t read about in the romanticized accounts of popular bloggers who have achieved their goal of FIRE (Financially Independent, Retire Early).

Also, as you correctly assume, early retirement is not for everyone. Here’s why:

1.) Boredom breeds discontent

There are some personality types that loathe the corporate world and a typical 9-5 job. These people hate being told what to do and feel stifled or constricted by a traditional work setting. They have loads of outside interests and hobbies they’d pursue, if only the majority of their waking hours weren’t spent at the office. For these employees, a responsible early retirement can indeed be a path that leads to fulfillment and happiness.

Lots of people, though, are perfectly content with their day jobs and feel fulfilled and productive when engaged in their work. For these employees, leaving the structure and social configuration of the workplace while they are still in their productive prime can lead to depression and a physical decline well before old age sets in.

Where do you stand? An early retirement might be an interesting idea if you’re a highly creative and independent sort who feels stifled at work. Similarly, if you have dozens of interests you would pursue without the structure of a typical workday, early retirement may be an attractive path. But, if you know you’d be bored after a few months of retirement, you’d be best sticking around your job as long as you can.

2.) You’ll miss your years of peak earning potential

Why bail out of your career just when you’re hitting your peak earning potential?

Using data from the Integrated Public Use Microdata Series business and investing website, Visual Capitalist found that the biggest jump in salary across all levels of income earners happens between ages 30 and 40, with those who are pulling in higher salaries seeing the greatest increase closer to age 40. If you pull out of the workforce in your early 30s, you stand to miss out on the years in which you reach your peak earning potential. Also, even if you retire at age 40 or 50, each year you are out of the workplace means a higher loss since you’ll likely have reached your highest income level during that time. And, if your employer has a 401K match, that means missing out on a lot of free money.

Where do you stand? If you’ve already hit your peak earning potential, and you have enough stashed away to keep you going, this may not concern you. However, if you feel you haven’t yet hit your best earning years, you may want to stick around the workplace for a while longer.

3.) You likely don’t have enough money to retire early

Some financial bloggers like to boast about their frugal post-retirement lifestyle, but how many of us can honestly look forward to off-the-grid living for more than a few years, or even a few months? If you can’t hack the super-cheap life for long, can you really afford to retire early?

Consider these numbers: According to the Bureau of Labor Statistics, the average person spends nearly $46,000 a year post-retirement. A survey by GOBankingRates found that 42 percent of Americans have less than $10,000 saved for retirement, and 14 percent have nothing saved at all. Even if you have a handsome retirement fund, it may not be enough to keep you going for half a century or more.

Keep these two factors in mind when you crunch the numbers:

  • You won’t be eligible for Medicare until you turn 65. Walking away from your job can mean losing out on your health coverage. If you get hit with a sizable medical expense before you find adequate coverage, you may be forced to drain your retirement savings to cover it.
  • You may have to pay an early withdrawal fee on your retirement funds. If you take out funds from your 401K, traditional IRA or Roth IRA before age 59 1/2, prepare to pay a 10% penalty.

Lots of early retirees still pull in an income through a money-making hobby they enjoy, such as blogging, selling on Etsy or YouTubing. This can be a great way to keep those retirement funds from running dry.

Where do you stand? If you’ve worked out the numbers and you know you’re financially secure enough to retire early, you can keep the option on the table. However, if you’re not sure you’ve put away enough money for retirement, you may want to push it off until you can afford to retire comfortably. Once you leave the workforce, it will be that much harder to re-enter.

4.) You won’t be contributing to society

Life is most meaningful when we’re working to make the world a better place. Whether you’re a heart surgeon, an estate lawyer, a florist or an electrician, your job is likely helping to change people’s lives for the better. Once you bow out of the workforce and spend your days chasing endless thrills or pursuing the ultimate in relaxation, you’re no longer impacting the same way. Like boredom, living selfishly can ultimately lead to dissatisfaction and unhappiness.

Where do you stand? If you have a plan in place for volunteer work, or for contributing to your community in a meaningful way once you’ve retired, this may not affect you. However, if you plan to indulge in years of pure pleasure and relaxation, you may come to regret an early retirement.

Your Turn: Do you believe that early retirement is a good idea? Why, or why not? Share your thoughts with us in the comments.

SOURCES:
https://www.lifehacker.com/early-retirement-is-not-for-everyone-1792176454/amp
https://www.financialsamurai.com/the-dark-side-of-early-retirement-risks-dangers/
https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/89FBC4B8-5860-11E8-B3CC-E89561607806
https://www.google.com/amp/s/www.fool.com/amp/retirement/2018/11/05/3-reasons-its-not-always-a-good-idea-to-retire-ear.aspx

8 Side Hustles Anyone Can Do

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Who wouldn’t love some extra pocket money? These freelance jobs don’t require any woman driving two young men in a carexperience and can be done by practically anyone. Plus, some of them might pay you for tasks you’re already doing! Read on for eight easy side hustles and to find those that may be right for you.

1.) Play with dogs

This job is for true animal-lovers. Why not earn some extra cash watching your furry friends? When you offer your services as a dog-walker or pet-sitter, you can charge as much as $25 an hour, depending on the going rate in your area. To get the word out, you can hang up flyers to advertise your services or sign up with Rover, an Uber-like service that matches up pet-owners and sitters for a small fee.

2.) Social media guru

Yes, your Facebooking talents and clever tweets really are marketable skills. You can offer your services to local and remote businesses as their social media brander. Depending on your skill set, you can write the company blog posts, manage their Facebook page, post new pics on Instagram and send out their tweets. You’ll need to get a feel for the core values and mission statement of the company you represent, but otherwise, it’s just doing what you love on your favorite social media platforms!

3.) Yard work

Do you wield real power with a weed-whacker? Are you an expert lawn mower? Get paid for tending to people’s yards. You can charge by the hour or per job. You may also want to do a survey of other local yard workers to get a good idea of fair asking prices.

4.) Take online surveys for pay

Make the time you spend online count by taking surveys on sites like Survey Junkie, Inbox Dollars and Swagbucks. Most of these sites are easy to use and will pay you as soon as you complete a survey. It’s a quick, easy way to pad your wallet with extra cash.

5.) Turn trashed items into treasure

If you’re crafty and love working with your hands, this one’s for you!

Late spring is the perfect time for finding discarded pieces of furniture in the trash. Take a spin around the neighborhood, scouring each block for curbside furniture in decent condition. Haul your finds home and get to work, refinishing, painting, changing drawer pulls and more to give the tossed piece of furniture new life. When you’ve finished glamming up your treasure, put it up for sale at a local flea market, sell it to a second-hand or consignment shop or market it online through eBay or Craigslist. If you really work at it, you may be able to turn a trashed piece of furniture into several hundred dollars.

6.) Work for Uber

The ride-sharing giant gives the term “flexible job” new meaning by allowing you to set your own schedule and decide just how many hours you want to devote to driving passengers.

If you don’t like the idea of strangers riding in your car, you can work for Uber Eats instead. With this sister service of Uber, you get paid to pick up fast-food meals and deliver them to customers. Uber Eats offers the same flexibility and great terms as the original Uber and, in some locations, you can even deliver the food on a bike or scooter. It’s a fantastic way to boost your income without committing to long hours or hard work.

7.) It’s fair time!

Summer is the season for local fairs of all kinds. Spend some time researching community fairs in your town and the surrounding areas. Is there one scheduled that features a special talent of yours? If you know you can bake a mean pie or you’ve been told your caramel fudge is to die for, try your hand at competing in a fair that features these competitions. You can earn hundreds of dollars in award prizes just for doing something you enjoy. Plus, there’s no limit to how many fairs you can enter each summer, so you can do this over and over again.

8.) Teach and tutor

Are you a geometry whiz or a genuine science buff? Offer your services as an individual tutor for school-aged children this summer and you’ll have a meaningful way to earn extra money. You can help a struggling student work through summer homework or pass makeup exams so they earn their promotion to the next grade. You’ll be using your brains to make a difference in a child’s life while making good money on the side.

If you’ve got a spectacular talent outside the classroom, you can use it to make money this summer by teaching it to students who want to learn how to do it, too. Specialized instructors like guitar teachers or art coaches can charge a pretty penny per session.

While it helps in some cases, you don’t need special training or credentials for earning extra pocket money. Use this list to find the side hustle that works for you and start boosting your income.

Your Turn: Do you have a side job you love? Tell us all about it in the comments.

SOURCES:
https://www.thebalancecareers.com/part-time-jobs-to-boost-income-4126475
https://workfromhomehappiness.com/internet-jobs/
https://financebuzz.com/ways-to-make-extra-money?utm_source=GoogleAdWords&utm_medium=SearchNetwork_g&utm_campaign=Side_Hustle_1067542500_54291646725&utm_content=340099491830&utm_term=best%20side%20hustles&mt=e&device=m&devicemodel=&targetid=kwd-296390838139&target=&keyword=best%20side%20hustles&campaignid=1067542500&adgroupid=54291646725&gclid=EAIaIQobChMIzsuumIz84QIVh1cNCh1B0AnVEAAYASAAEgJpg_D_BwE

8 Ways To Avoid Getting Scammed On Craigslist

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The arrival of spring and the deep house cleaning it inspires means more people are woman on cell phone looking upsetputting their old furniture, devices, sports equipment and clothing up for sale. That’s why the amount of items like these on sites like Craigslist swells considerably during this season. If you have the time and patience to sift through the offerings, there are wonderful treasures to be found. Conversely, if your own spring cleaning unveils hordes of sellable stuff you don’t use anymore, you can make good money selling them online.

Unfortunately, though, when there’s money to be made, the scammers are never far behind. Craigslist is riddled with scammers looking to make a quick buck off people’s naivety. Stay one step ahead of scammers and keep your money safe by following these eight tips when using Craigslist.

1.) Be familiar with Craigslist and the services it offers

Lots of Craigslist scams can be avoided by knowing basic information about the site. Before using Craigslist, make sure you know the following:

  • The Craigslist URL is http://www.craigslist.org. Scammers often use fake sites to lure buyers into paying for items that don’t exist. Always check the URL before finalizing a purchase.
  • Craigslist does not back any transaction on its site. If you receive an email or text trying to sell you purchase protection, you’re looking at a scam.
  • There is no such thing as a Craigslist voicemail service. If a contact asks you to access or check your “Craigslist voicemails,” you’re dealing with a scammer.

2.) Deal locally.

The “barely used” couch that’s up for sale a couple of states over might be better-priced than the one being sold just a 10-minute drive away, but it’s always safer to deal with locals on Craigslist. According to the site’s advice on avoiding scams on their platform, you’ll avoid 99% of the scams on Craigslist by following this rule.

Keeping your transaction local will enable you to finalize a sale in person. Plus, there’s less of a chance of there being a language barrier blurring the details of the deal.

3.) Examine the product(s) before finalizing a sale.

Never rely solely on pictures to get the full scope on what you’re buying. Ask to look at the item in person. If you’re purchasing an electronic device or something else that needs to work in order to be valuable, ask to try it out as well.

4.) Don’t accept or send a cashier’s check, certified check or money order as payment.

Fraudulent checks can be impossible to fight. Also, a bad check can seem to clear on sight, so you’ll agree to the sale and use the money that’s supposedly in your account. A few days later, though, you’ll realize the check bounced. By that time, the buyer has vanished with your goods, leaving you responsible for covering the funds you used while presuming it cleared.

On the flip side, if you pay for an item with a money order or wire transfer, you’ll have no way of recouping your loss if the seller fails to come through with the goods.

5.) Use cash-safely.

The most secure way to pay or collect funds for a Craigslist transaction is with cold cash. If the idea of handing over a large sum of money to a stranger scares you, you can make the exchange of money and goods in a safe place like your local police station or even at Destinations Credit Union.

When accepting cash for a sale, bring along a counterfeit detector pen (which can be found at most office supply stores and online) to be certain you’re not getting scammed with bogus bills. These retail for as little as $5, but they can save you from big losses.

6.) Never share your personal information with a buyer or seller.

As always, when online, keep your personal information to yourself. There’s no reason a buyer or seller needs to know your checking account number, your date of birth or even your mother’s maiden name. If a contact is asking too many questions, back out of the deal.

7.) Be wary of fake escrow service sites.

Escrow services, in which a company holds onto a large sum of money for two parties in the middle of a transaction, can be super-convenient when buying and selling things online. However, they can also be a clever trap for unsuspecting victims. Scammers often create bogus escrow service sites to lure victims into dropping their money right into the scammers’ hands. The site will be a copycat of a reputable escrow service site, with some slight deviations you wouldn’t notice unless you looked for them.

When using an escrow service site, it’s best to find the site yourself instead of following a pop-up ad or a link. Check the site carefully for spelling mistakes and poor syntax. Also, make sure the URL is secure and matches the site of the service you intend to use.

8.) Create a disposable number.

When conducting business on Craigslist, you may need to share a working phone number. You can create a cost-free, disposable number on Google Voice instead of giving out your real number. Your Google Voice number will be untraceable and will expire within 30 days of non-use.

Your Turn: Have you ever been targeted by a Craigslist scam? Share your experience with us in the comments.

SOURCES:
https://www.fraudguides.com/internet/craigslist/
https://www.craigslist.org/about/scams
https://www.thestreet.com/amp/personal-finance/craigslist-scams-14707309
https://www.efraudprevention.net/home/templates/?a=96

Which Features Should I Look For In A New Car?

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Q:  I’m in the market for a new set of wheels, and the choices are making me dizzy. How family getting car keysdo I decide which features to look for in a new car and which to skip?

A:  Shopping for a new car can be complicated-but it doesn’t have to be that way. With a bit of research and some time spent determining what’s important to you, you can make a choice you’ll be happy with for years to come. To help you out, we’ve created a list of key features you might want to consider in your new car, as well as a list of features you can skip.  When you know what features you want, you can easily shop all of the available inventory in the area on one simple car buying site at Destinations Credit Union.

Must-have safety features

  • 360-degree camera: This camera takes the risk factor out of backing up by giving drivers a bird’s-eye view of the car. This way, drivers can see the entire area surrounding their vehicle and check for children and objects in their way.
  • Evasive steering: Keep yourself safe even in the event of surprises on the road with this handy new feature. Evasive steering will provide you with additional steering support when you’re in danger of colliding with another vehicle and your own steering efforts are not sufficient.
  • Blind spot alert: This feature alerts the driver when there is an object or pedestrian in direct line of their blind spot.
  • Forward collision warning: If you’re prone to distraction while behind the wheel, you might want this feature. It provides a visual and/or audible alert when your vehicle is heading toward a forward collision.
  • Automatic emergency braking: Stay safe with this feature, which automatically applies the brakes when it senses a vehicle in your car’s way. Some systems include pedestrian detection as well.

Convenient features

  • Automatic keyless entry: This feature was created for those moments when you’re staggering toward your car with armfuls of grocery bags: it automatically unlocks a car’s doors when it senses a nearby fob.
  • Head-up display: You don’t have to risk swerving every time you want to check out your car’s display. With a head-up display, you can see important information, like your fuel level and speed, right on your windshield. Displays are dim enough so they don’t block your visibility, but clear enough to easily read.
  • Power tailgate: If you plan on hitching a boat, ATV, or another large vehicle to the back of your new pickup truck or SUV, you might want to shop for this feature, because it lets you lower and raise your tailgate with the push of a button.
  • Multi-zone climate system: Family road trips are peaceful again with this feature, which allows for different climate controls throughout the car.
  • Speedy USB-charging outlets: No more unbearable waits for your gadgets to power up! You can now buy a car that charges your device super-quickly.
  • WiFi hotspot: Stop eating up your phone’s data-just plug into your car’s WiFi instead. Some in-car hotspot services charge a monthly fee after a complementary introductory period, but these tend to be cheaper for unlimited data than a similar data plan through a mobile phone carrier.
  • Heated steering wheel and driver’s seat: This one is for those frosty mornings when your car can’t get warm quite fast enough.
  • Wireless charging pad: Leave the wires at home! Just place your phone on one of these pads and it will start powering up. These super-techy gadgets use induction to charge your device and work with most new smartphones. If your phone is aging and won’t charge on an induction pad, you can buy a special case to bring it up to speed.

Fun-to-have features

  • Home assist device connectivity: Telling your phone to crank up your AC or to shut off your oven is old news. But, did you know you can now do the same for your car’s controls? Some new cars allow you to use remote voice control with home assist technologies, like Alexa, for your car. You can tell the assistant to set the temperature in your car, unlock doors and even get your favorite playlist going while your hands are busy making lunch.
  • Rear entertainment systems: No more backseat fighting! This feature gives the rear seat of your car a completely separate entertainment system.
  • Sound enhancement: If you’re an incurable gearhead who needs to actually hear your car revving up, you’ll love this feature. It simulates the performance experience of your vehicle, even in a car that is built to be quiet, so you can listen to your engine roar itself to life.
  • Android Auto and Apple CarPlay: Leave your phone in the cup holder and avoid dangerous distraction with these features. Both will sync your smartphone’s interface with your car’s infotainment system so you can use the car’s screen for controlling your phone and keep your eyes on the road.

Features you can skip

  • Bigger wheels and thinner tires: The look might appeal, but the ride will be less comfortable. Plus, your wheels will be more prone to damage from potholes and other obstructions on the road.
  • Built-in navigation systems: Please don’t pay extra for a navigation system when you know you’re going to use Waze or Google Maps most of the time anyway. Also, most built-in navigation systems require constant and tedious updates.
  • Lane keeping assist: This feature automatically steers or brakes your car when your vehicle crosses lane markings without turning on a blinker. It sounds tempting, but in real life, it’s more annoyance than convenience. Often, you’ll need to suddenly cross a lane marker for good reason, like moving over for an emergency vehicle or for a cyclist on the shoulder of the road. Plus, according to Consumer Reports, there is no data that proves this feature has any safety benefits for the driver.

Before you start shopping, call, click, or stop by credit union to hear all about our auto loans. We have fantastic rates to get you behind your new set of wheels!

Your Turn: Did you buy a new car recently? Tell us about the features you chose and why they made it to your list.

SOURCES:
https://www.consumerreports.org/automotive-technology/must-have-features-to-get-in-next-new-car/
https://www.hotcars.com/must-have-car-features-for-2019/
https://cars.usnews.com/cars-trucks/cars-with-the-most-high-tech-features-for-the-money

7 Ways To Save Money On Camping Costs

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Q:  I’m planning a camping trip for the summer, and I’d love to keep the trip as low-cost family around a campfireas possible. How can I cut down on camping costs?

A:  It’s great that you’re looking for ways to trim your vacation expenses. We can help! Read on for seven ways to save on camping costs.

  1. Save on location

Nightly rates for camping sites can cost a pretty penny during peak camping season. But why pay the fee when you can camp for free? You can find a campground where you can pitch your tent or park your RV at no cost, on Freecampsites.net or Campendium.com.

Another great option is to camp at a national forest. You’ll be charged an entrance fee as well as an amenity fee, but you’re free to stay anywhere on these grounds as long as you follow park guidelines. If you’re a frequent camper, consider purchasing a National Parks and Federal Recreational Lands annual pass. For just $80 a year, or $20 for individuals age 62 and older, you’ll have access to more than 2,000 national parks and national wildlife refuges. The pass covers entrance fees, parking fees, amenity fees and more. If you’re currently a member of the U.S. military, you and your dependents are entitled to a free annual pass.

Finally, if your schedule allows, consider mid-week camping. Lots of campgrounds offer lower prices on off-peak days.

  1. Consider “workamping”

If you don’t live near a national park and you’d love a free stay, “workamping” can be a terrific option. Lots of campsites and RV parks are now offering this choice: For a bit of hard work, you’ll be granted free access to the campgrounds. You might even walk away with some extra cash in your pocket!

  1. Rent or borrow camping gear

High-quality camping gear such as tents, sleeping bags, camping stoves and camping clothes can cost a pretty penny. In fact, according to the American Camper Report from Coleman Company, adult campers spent an average of $546 on camping gear in 2016.

You can have your gear and your budget, too, by double-thinking the purchase of brand-new gear. Are you a frequent camper? If not, does it really pay to spend big bucks on specialized equipment you’ll only use once or twice a year? If you have friends who practically live in a tent or RV, ask about borrowing their equipment for your trip. Otherwise, consider renting the gear you need from companies like REI Co-op. If you’d rather have your own equipment, check out sites like Switchback Gear Exchange for gently used camping paraphernalia at terrific prices.

  1. Skip the prepackaged meals

Yes, they might be super-convenient, but they’re also super-expensive. Save a ton on food costs this trip by ditching the prepackaged meals. You can find loads of ideas for easy camping meals you can cook over a fire by doing a quick Google search. Often, all you need is some basic food supplies and a roll of aluminum foil!

  1. Share meal prep

If you always camp as a group, take full advantage by sharing the meal prep. Divide the meals completely, having each family be fully responsible for several meals. Alternatively, you can create a master list of supplies and food and then divide and conquer. This way, only one of you needs to bring small packets of ketchup and a jug of maple syrup, while another one brings the coffee and salt. The packing and meal prep are a whole lot easier when they’re shared!

  1. Pack like you’re being marooned on an island

Don’t set out on your trip until you’ve checked that you’ve packed everything on your list at least three times. It will take a few extra minutes, but it’s worth the time and effort. You don’t want to be forced to pay inflated small-town convenience store prices for forgotten items like bandages or batteries.

To keep it simpler, create a master list of everything you need to bring on a camping trip. Make a digital and physical copy of the list. When you return from your trip, review the list and edit it according to how it all went down. Do you need to bring more paper cups next time? Did you overdo it on the ice? Adjust as necessary. Before your next trip, use the list when packing so that you don’t forget a single item.

  1. Check out free camping activities on your campsite

Many campgrounds feature boat rentals of all kinds, but they can be pricey. Enjoy every minute of your camping trip by exploring walking trails, fishing and bike riding along a forest path. Don’t forget to pack some board games and books for rainy days.

Use these tips when planning your trip and you’ll save big on costs without compromising on the camping experience. Here’s wishing you the camping trip of a lifetime, from all of us here at Destinations Credit Union!  And, if you decide to make camping a way of life, don’t forget that we finance recreational vehicles!

Your Turn: Have some camping hacks that save on costs? Share your best tips with us in the comments!

SOURCES:
http://bargainbabe.com/20-quick-tips-to-save-money-camping/}
https://www.google.com/amp/s/www.thepennyhoarder.com/smart-money/camping-on-a-budget-how-to-save-money-on-your-next-trip/amp/
https://www.google.com/amp/s/www.budgettravel.com/article/save-money-camping/amp
https://axleaddict.com/rvs/CampingForCheapskates

6 Ways To Save Money On Gardening Equipment And Supplies

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As spring deepens and vibrantly colored flowers blossom everywhere, you might be family working in a gardendreaming about a garden of your own. You’ll till the soil, pat the fertilizer into place and plant your young shoots with tender care. You’ll make sure they get just the right amount of sunlight and water, and you’ll be careful to keep out unwanted pests with strong fences and natural pesticides. And you’ll be rewarded with beautiful flowers and fresh vegetables, straight from your very own garden.

But when you hit the stores to start shopping for your garden, the sticker shock can be alarming. There’s so much to buy-and it’s all so expensive! There’s specialized equipment, must-have tools, frequent runs for seeds and fertilizer and a steady supply of weed killers and animal repellents. You might be wondering: Can I really afford to have the garden of my dreams?

Yes, you can! Save on gardening costs this year with these six creative hacks:

1.) Share equipment

You won’t be able to care for your yard and garden without the proper tools, but that doesn’t mean you need to break the bank to get all that equipment. Instead, speak to your neighbors about sharing some of your gardening gear. Let your neighbor use some tools you own, like your weed-whacker, trimmer and spreader, in exchange for free use of your neighbor’s gardening tools. If you dare, consider sharing your larger, more expensive tools like a lawn mower and rototiller as well.

To make it easier, consider tending to your gardens and yards on different days of the week so you know you’ll have your equipment available when you need it.

If you and your neighbor both need to purchase a new tool or machine, talk about splitting the cost and then sharing the tool.

You can also work out a bartering system with your neighbors, exchanging extra gardening supplies, like leftover seeds and fertilizer.

2.) Purchase used gear

You can save big on gardening equipment by looking for second-hand tools and machines. Check out sites like Craigslist, Freecycle and eBay for quality equipment at bargain prices. Be sure to give the pre-owned tool a test run before finalizing a sale.

3.) Rent equipment

Instead of shelling out big bucks on expensive tools you’ll only use once or twice a season, consider renting them as you need them. Home Depot rents out a wide variety of gardening tools at excellent rates, and lots of smaller hardware stores have a similar garden tool rental service during the spring and summer months, too. You’ll have access to quality equipment when you need it at a price you can afford. Plus, you won’t have to worry about storing bulky gardening tools all year long.

4.) Shop the dollar store

Before hitting the big chain stores, like Lowe’s and Home Depot, for gardening supplies, check out your local dollar store. You’ll find loads of gardening supplies, like seeds, markers, buckets and planters, at rock-bottom prices in stores like Family Dollar and Dollar Tree.

5.) Shop the sales

Like every retail product, gardening equipment and supplies have their season for markdowns and sales, and the wise consumer knows how to time their purchase in order to save big.

Larger gardening equipment, like mowers and tillers, usually sees steep discounts at Memorial Day sale events, making the start of summer an excellent time to stock up on pricey garden tools.

Flowerpots, garden décor, lawn furniture and select plants will retail at blowout prices during the clearance sales at the end of July. If you’re hankering after a new set of Adirondack chairs for your garden, or you want to spruce up your yard with some garden gnomes, this is the time to buy them.

You’ll also see some wilting flowers on sale now; don’t let those drooping leaves scare you. If you find a marked-down perennial past its blooming window, check for strong roots and stems. A firmly rooted perennial planted late in the season might not bring you colorful blossoms this year, but if it’s well cared-for, it will likely recover by next spring and reward you with beautiful, healthy flowers.

Whenever you decide to buy your tools and supplies, be sure to check coupon sites like RetailMeNot and CouponCabin before making a purchase.

6.) Buy seeds

Purchasing young transplants is a lot easier and a lot quicker than starting from scratch, but the difference in price can be enormous. You can pick up a packet of flower or vegetable seeds for less than a dollar in many nurseries and through gardening catalogues. You’ll also have a much broader choice of plant when you buy seeds instead of being limited by the store’s pick of transplants. Finally, raising a plant from seedling to vegetable or flower is a uniquely rewarding experience.

Tending a garden and watching it grow is one of life’s last remaining pleasures that remains unaffected by the encroachment of technology. Use these tips to bring your dream garden to life without draining your wallet.

Happy gardening from all of us here at Destinations Credit Union!

Your Turn: How do you save on gardening supplies? Share your best tips and tricks with us in the comments.

SOURCES:
https://money.usnews.com/money/personal-finance/slideshows/10-ways-to-save-while-gardening
https://www.hgtv.com/outdoors/gardens/planting-and-maintenance/5-surprising-ways-to-save-money-on-gardening-supplies
https://www.thegraciouswife.com/tips-to-save-money-on-gardening-supplies/
https://www.littlehouseliving.com/5-ways-to-save-money-gardening.html

All You Need To Know About Flipping Houses

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In the 2019 real estate market, home-flipping has become more popular than ever.man painting as family looks on

Flipping houses is a basic real estate investment concept that involves purchasing a rundown or undervalued home at the lowest possible price, spending the necessary time and money fixing it up and then selling it for a profit. Flipping, or rehabbing, homes has become the primary or secondary source of income for thousands of people across the country. In fact, according to a report by ATTOM Data Solutions, a total of 48,457 single-family homes and condos were flipped in the first quarter of 2018.

If you’re thinking of jumping on the home-flipping bandwagon, proceed with caution. You’ll need nerves of steel, large sums of cash to work with and the ability to juggle several projects at once.

Read on to learn more about buying, rehabbing, and selling properties for profit so you can make an informed decision.

Is it a good time to flip houses?

2019 can be an excellent time to make money by rehabbing properties. The robust economy and falling mortgage rates mean more people are rushing to buy homes this year. Consequently, prices on homes are predicted to rise as supply falls behind demand. This can be excellent news for rehabbers who can make a bigger profit off a home-flip.

Before you get started

If you think house-flipping may be for you, ask yourself these questions before getting started:

  1. How is my credit?  Unless you’re paying for each house in cold cash, you’ll need to have a minimum credit score of 720 to qualify for mortgages on the homes you’ll be flipping. If you’re not there yet, work on raising your score before launching a house-flipping business.
  2. Can I afford the down payment?  You’ll also need to have a large amount of cash available for your first down payment. The more you can drop on a house, the bigger chance you have of winning a bidding war.
  3. Can I handle a delay or a loss? You might sink $40,000 into a house and then watch in horror as it sits on the market while refusing to sell. You might buy a house in an up-and-coming neighborhood, but the market promptly falls apart as soon as you close. Hopefully, you’ll only see success, but you’ll need to be emotionally and financially prepared for unpleasant surprises.

5 Steps to Starting a House-Flipping Business

Are you ready to flip some houses? Follow these steps to get your business up and running!

Step 1: Create a business plan

Sit down and write up a business plan before making any other moves. Outline your goals, delineate the number of projects you can realistically manage over the course of a year, create timelines for each project, build a marketing strategy and determine a financing source for your business. Get as detailed as possible for optimal success.

Step 2: Acquire financing

The simplest way to flip a home is to acquire the entire property with cash. But, if you don’t have access to such huge sums of cash, you can still be a successful house-flipper. You can take out a personal loan or a business loan from [credit union], tap into your 401K or open a HELOC against your home.

Step 3: Find the right group of professionals

If you’re super-handy around the house, you can rehab the homes yourself. Otherwise, you’ll need to hire a group of professionals to help you succeed at rehabbing the houses you intend to flip. You’ll also need to seek counsel from attorneys and others who are well-versed in local laws to make sure your house is up to code and that you have all the necessary permits for construction projects. Take your time researching and hiring the right group of professionals, as a smart choice now will save you loads of money and time down the line.

Step 4: Find your property

Once you have your business plan, financing and group of³ professionals in place, you’re ready to look for your first property. But where do you start looking?

Most experts predict that the best investment opportunities of the 2019 housing market will be found in the suburbs, and more specifically, in emerging new neighborhoods. This way, you can capitalize on lower prices without getting stuck with the house no one wants to buy in a less-than-desirable neighborhood. Check out factors like crime rates, desirable schools, and the number of foreclosures in any neighborhood you’re considering.

The best way to find homes is to trundle around a neighborhood, look for vacant houses, and then send the owners a letter, asking if they’re willing to sell. You can find properties for sale at auctions, on home-searching sites like Zillow and Realtor.com, or by driving around your chosen neighborhood and scouting out For Sale signs. It’s best to have a licensed inspector check a potential home for structural problems and deficiencies before you close.

Step 5: Buy, rehab, market and flip

Once you’ve found a potential house to flip, use the “70% Rule” to determine if it’s a worthwhile proposition. The 70% rule states that an investor should pay no more than 70% of the ARV (after-repair value) of a property minus the repairs needed. If you follow this rule and all works out, you’ll walk away with a sizeable profit.

As soon as your purchase is finalized, the clock starts ticking. Every day you own the home is another day you need to pay the mortgage. If your doing the rehab yourself, get ready to start as soon as you close. Otherwise, have your team of professionals prepared to begin their work as soon as the home is yours. Depending on the condition of the home, this can take anywhere from several weeks to several months. During this time, be sure to check periodically that all renovations are up to code.

When the rehab is nearing completion, you can start marketing the home and vetting out potential buyers. Check out similar homes in the area to work out a fair asking price. With any luck, you’ll find a buyer quickly and the home will once again change owners.

If you’re ready to start a home-flipping business, stop by Destinations Credit Union to talk about your financing options. We can help make your business dreams a reality!

Your Turn: Have you ever flipped a home for profit? Share your experience with us in the comments.

SOURCES:
http://money.com/money/5640988/why-500-houses-in-st-louis-are-on-sale-for-1/
https://www.mashvisor.com/blog/2019-start-house-flipping-business/
https://www.google.com/amp/s/www.thestreet.com/amp/how-to/flip-a-house-14843879
https://www.investopedia.com/articles/mortgages-real-estate/08/house-flip.asp

Dollar Stores: Are They Worth The Price?

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Q:  I love browsing my local dollar store, but I often end up spending more than I woman shoppingplanned or regretting my purchases. Are dollar stores worth the price?

A:  Dollar stores can be tremendous spending traps, but they can also be a great way to snag a bargain. It’s all in how you plan your visit.

Read on to learn how to get the best deal at the dollar store.

Before you start browsing

Everything is just a buck, you say. How can you possibly go wrong?

Unfortunately, with that mindset, you might find yourself going way overboard with your spending. Before you set out for the dollar store, create a physical or mental list of what you need to purchase.

Love to throw just-for-fun products into your cart? The dollar store is a great place to do that, so exercise caution. You don’t want to blow tens of dollars on stuff you don’t really need and might never use. Establish a limit of how many of those items you can pick up on your trip before you set out. If you always find yourself pushing your self-imposed limit, only shop with cash so you’re forced to stick to your budget.

What’s hot at the dollar store …

Here are some products that are great bargains at the dollar store:

  • Cleaning supplies: Get clean for less by stocking up on Ajax, bleach, glass cleaner, scouring pads, spray bottles, off-brand Swiffer refills, sponges, dryer sheets and ammonia.
  • Seasonal: Visit the dollar store before hitting chain stores for your holiday decorations. Halloween décor, cheap gift boxes and wrapping paper can all be had at the dollar store.
  • Toys: Load up on bubbles, sidewalk chalk, balls, card games and kites.
  • Groceries: Get your frozen fruit and veggies, string cheese, spices, name-brand condiments, rice, oatmeal and snack foods at the dollar store.
  • Kitchenware: Stock up on bargain-priced storage bins and containers, whimsical kitchen décor and glasses. Paper plates, cups and napkins can also be bought at super low prices.
  • Party gear: Greeting cards, wrapping paper, balloons, ribbons, streamers, birthday candles, party decorations and gift bags can all be bought for, you guessed it, a dollar each.
  • School/office supplies: You won’t be able to find every item on your school supply list that’s actually worth the price, but you can load up on project display boards, tab dividers, binder clips and poster boards at the dollar store.
  • Kids’ activities: The dollar store is a great place to stock up on rainy-day supplies for the kids. You’ll find some great books, puzzles, craft supplies, colored papers, stickers, activity books, coloring books and more.

… And what’s not

Not everything you’ll find in the dollar store is worth as much as a dollar. Plus, there are lots of things you can get elsewhere for a better price.

  • Cleaning supplies: The following cleaning supplies at the dollar store are either made too cheaply to be worth the price or can be bought for less in other stores: dishwashing soap, tissues, toilet paper, paper towels, garbage bags, laundry detergent.
  • Toys: Small toys for young children that aren’t made well can quickly become choking hazards. Also, dollar-store dolls and toy cars are likely to break the day you bring them home.
  • Groceries: These foods can be bought for cheaper in a grocery store: pasta, soda, gum, canned goods, chocolate.
  • Kitchenware: Plastic cutlery from the dollar store is too cheaply made to be worth the few cents you’ll save. Ditto for disposable baking dishes. You’ll also want to stay away from can openers, knives and oven mitts, as these items need to be well made to do their jobs.
  • School/office supplies: The following supplies can be bought for less money and of better quality in stores like Walmart and Target: lined paper, composition notebooks, glue, crayons, markers, Post-its, pens, pencils and highlighters.
  • Self-care: Cheaply made soap, shampoo and cosmetics can be harmful to your skin. Don’t buy name-brand travel-size toiletries either; you can usually get tiny shampoo and soap bottles for less than a buck at big-box stores.

When it’s not a bargain

When making a purchase at the dollar store, hold it up to this checklist. If your item fits any of these criteria, you’re better off without it:

  1. It’s sold in tiny quantities. Often, what looks like a bargain is just a product in a really small package. Check the size on food items and cleaning products; you can often get more for less money when you buy a product in a bigger size at a larger store.
  2. It’s made with harmful toxins. Check all health and beauty products for toxic and carcinogenic ingredients.
  3. You don’t need it. A dollar spent on something you don’t need is a dollar wasted.
  4. It’s made super-cheaply. If it’s going to break during the first day of use, or even the first hours, leave it in the store.
  5. It isn’t food-safe. Check all products that will come into contact with food, like serving platters or dishes, for a label that proclaims them food-safe.
  6. It’s expired. Be careful to check the “Sell by” date on candy and other foodstuffs so you’re not paying for expired products.

Learn how to shop smart at the dollar store and you’ll go home with true bargains!

Your Turn: What are your favorite dollar store picks? Tell us all about it in the comments!

SOURCES:
https://www.onegoodthingbyjillee.com/dollar-store-dos-and-donts/
https://www.bradsdeals.com/blog/things-you-always-should-buy-at-the-dollar-store
https://www.cheatsheet.com/money-career/the-real-reason-everything-at-the-dollar-store-is-so-cheap.html/