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الثلاثاء، 8 مارس 2016

More than 50% of Americans Failed This Quiz. Can You Do Better?

Do you know how credit cards work?

That seems like a stupid, basic question to ask in America… on a personal finance blog.

Unfortunately, the overwhelming answer is, apparently, no.

We do not know how credit cards work, what determines a credit score or how that score affects other areas of life, according to a survey by Harris Poll, commissioned by NerdWallet.

We’ll share some results below, but first, you can take the quiz yourself.

How Does Your Knowledge Compare With Others’?

When this survey was conducted, the findings were surprising.

  • Most Americans don’t know which actions affect their credit scores or what effect they have.
  • More than half don’t know when their credit card purchase starts accruing interest.
  • Only 9% of Americans know where their credit score actually comes from.

The majority of people who have taken this quiz have answered fewer than 50% of the questions correctly.

I got a 35%. (I also don’t have a credit card, in part because the system is intentionally so complicated for average consumers.)

Did you do any better?

After you take the quiz, have a look at these surprising myths about credit cards the survey revealed many Americans believe.

Myth 1: Carrying a Credit Card Balance Helps Your Credit Score

More than half — 54% — think carrying a balance will help your credit score.

Fact: Using your card is important, but you should pay it off each month. Carrying a balance will just cost you money in interest.

Myth 2: Closing an Older, Paid-Off Card Helps Your Credit Score

Seventy-eight percent of Americans don’t know that closing an older, paid-off card actually hurts your credit score.

Fact: Closing a card reduces your overall available credit, which means your utilization will be higher. Utilization is an important factor in your credit score, and you want it to be low.

If your older card is paid off and doesn’t carry an annual fee, you can keep it open to help your score. Keep it active by automating a small monthly bill to be paid on the card (like your Netflix subscription), and pay off the balance each month.

Myth 3: Paying a Bill Late Will Always Hurt Your Credit Score

Only 8% of Americans know how a late payment affects your credit score.

Fact: This is actually good news: If you pay within 30 days of the due date, a late payment will not likely be reported to credit agencies.

It will, however, incur a fee, so it’s still best to pay on time.

Myth 4: A Credit Score is a Singular Number From One Agency

I thought I knew this one, but I got it wrong! So did 91% of people surveyed.

Equifax, Experian and TransUnion are three credit reporting agencies. You’re entitled to a free credit report from each of them once every 12 months, though you may have to pay to receive your actual score.

Fact: You have hundreds of credit scores. Most lenders count on the FICO score model of those top three bureaus, so it’s not altogether misguided to focus on those.

But know that if you’re getting your score from a free scoring site or another bureau, it may use a different model. The score you receive is not definitive and may not be the one lenders are seeing when they run a credit check.

Myth 5: Interest Begins Accruing Immediately After a Purchase

Fifty-five percent of Americans have the wrong idea of when interest begins accruing on your credit card purchases.

Three in 10 think it starts immediately after a purchase is made. Many believe it starts once the bill is issued. Both are wrong.

Fact: Interest doesn’t begin accruing until the day after a bill is due. You won’t pay any interest if you pay your bill by the due date each month — you’ll only pay off the balance of purchases you made with the card.

Myth 6: An Annual Fee on a Credit Card is Never Worth It

More than a quarter of Americans say an annual fee is never worth it.

Fact: An annual credit card fee is worth paying if the rewards you earn are greater than the cost of the fee. Surprisingly, only 40% of Americans responded with that answer on the survey!

Your Turn: How much do you know about credit card basics? Share your quiz score and thoughts in the comments!

Dana Sitar (@danasitar) is a staff writer at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more.

The post More than 50% of Americans Failed This Quiz. Can You Do Better? appeared first on The Penny Hoarder.



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It’s Free Spray Tan Week! Here’s Where to Get Bronzed for $0

Are you as pale as the snow outside your house right now?

Then you’d probably love to get a bit of a sun-kissed glow.

And if you want it without the harmful UV rays, a spray tan might be a good idea.

I have a few friends who swear by them. I’ve never gotten one myself, but that might be changing soon.

Because I just discovered an easy way to get one for FREE this week…

How to Get Your Free Spray Tan

It’s Free Spray Tan Week at Sun Tan City!

To take advantage of this promotion, just bring this free spray tan coupon with you between now and Sunday, March 13.

Though Sun Tan City normally offers one free spray to new customers, the above coupon is even good for repeat customers.

There are more than 250 locations across the country, with the majority located in the Midwest and Northeast.

Most charge $24-$35 for a single spray tan, so this is a huge savings.  

Looks like it’s time to go get bronzed!

Your Turn: Are you a fan of spray tans?

Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.

The post It’s Free Spray Tan Week! Here’s Where to Get Bronzed for $0 appeared first on The Penny Hoarder.



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Homes on Crossrail route worth 54% more than average

Homeowners along the under-construction Crossrail line, which ranges from Reading in Berkshire to Shenfield in Essex, via central London, will be pleased to hear property prices have shot up in value.

Homeowners along the under-construction Crossrail line, which ranges from Reading in Berkshire to Shenfield in Essex, via central London, will be pleased to hear property price shave shot up in value.

The newly named Elizabeth line began being built in 2009 and isn’t set to be finished in full until December 2019.

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Working Through “The Two Body Problem”

During my previous career, I had the opportunity to get to know a large variety of working professionals, some in academia and some in private industry. Unsurprisingly, many of those professionals were married to spouses in the same field or in other research fields, largely due to getting to know each other over the course of going through similar experiences in college and in graduate school.

Through this, I began to learn of something calle “the two body problem.” To quote Wikipedia, which has a great summary of this topic, “[t]he two-body problem is a dilemma for life partners (for e.g. spouses or any other couple) in academia, relating to the difficulty of both spouses obtaining jobs at the same university or within a reasonable commuting distance from each other.”

I would argue that this extends to anyone who has very specialized training or licenses that can only be employed in certain locations with certain employers, so in this article I’ll be talking about a slightly more generalized version of the two body problem.

As I consider this problem, three different couples that I know spring to mind.

One couple involves a pair of people who are both employed at the same university as tenure-track professors. They’ve essentially solved the two body problem, at least for now. It may be a permanent solution provided they both achieve tenure.

Another couple I know involves one person working as a professor at a university, while another partner works for a large company in a nearby city. They live in a situation where at least one of them has to commute and that’s the solution they’ve found – the partner working for the large company commutes about 45 minutes each way to work.

And then there’s a third couple, who I’ll call Amy and Bill. Right now, Amy has an amazing job earning a very nice income, while Bill lives about 750 miles away working at a different amazing job earning a very nice income. They remain married and have two children, of which Amy maintains custody. They see each other almost every weekend.

I know via third-hand stories of other couples who have come up with other solutions. I have heard the story of one couple in which one partner has a spectacular job, but their partner simply has nothing available in their area that they’re trained for, so the partner simply does not work at all and spends her days working on political campaigns doing volunteer work. I know one couple that decided to separate due to these kinds of employment issues, though they apparently go on “dates” whenever they can see each other.

The truth is, when you have trained for a specialized job with limited job availability, you put a potentially large strain on any relationships you might have; the issue is even greater when you both have this kind of specialized training.

The Many Solutions

The above article suggests many potential solutions to the problem:

“Typical solutions include:
– two tenure-track positions at the same university
– two tenure-track positions at two nearby universities (daily commutes possible)
– two tenure-track positions with one or both partners commuting between two geographically separate institutions (daily commutes impossible because of distance; partners may be separated weekly or for semesters at a time, depending on their circumstances)
– one tenure-track position shared (if they are in the same field)
– one tenure-track position and one instructor position
– one tenure-track position and one industry position
– one tenure-track position and one administration position at a same university

“Although it is not an ideal solution, a possible outcome is a break-up of the relationship. Long distance commuting certainly places a strain on relationships, especially when maintained over long periods (years or even decades).”

Again, as I mentioned above, this problem carries over into any specialized field in which job openings are fairly limited and competitive but are quite lucrative if you can get one, so these solutions also line up well with the broader problem.

Our Own Experience

While Sarah and I did not have a strict version of the two body problem, meaning that we were not competing for tenure-track positions at a university, we did both graduate with degrees that pointed us toward somewhat specialized jobs with relatively specific areas where we would be valued for our training. This, of course, is true of many college graduates.

When we graduated, we found ourselves searching for jobs, and like any freshly-minted college graduates, we were happy to each get a good job upon graduation. Unfortunately, these jobs were about an hour away from each other. Our initial residence after graduation was very close to my job – in fact, I rode the bus for the first year or so of my job. However, Sarah had to commute for almost two hours each day, which was undoubtedly miserable in comparison. My commute was about 15 minutes each way on the bus, starting from and ending at a bus stop down the block.

Eventually, we compromised. We moved to a location that was central for both of us. This required us both to have a commute – and also required that I purchase a vehicle – but drastically reduced Sarah’s daily commute.

This had a number of pros and cons. Obviously, it helped Sarah’s state of mind greatly, which was a positive, and we also were able to spend more time together in the evenings, which was another positive. At the same time, it was more expensive because of the need for another vehicle – a negative – and it did cause my commute to get much longer and less passive, which was personally a negative.

Did it add up to a net positive? Sarah labeled it a positive. I would probably label it a slight negative overall, but the positive benefits for Sarah added up to enough to make it work.

When I started working from home, my commute obviously disappeared. Sarah still has a commute to work, though it’s not nearly as long as it was when we first graduated. I’ve been quite willing to move closer to her job, but she’s pretty happy with our current situation (particularly where we live) and has expressed little interest in moving closer.

Some Questions to Consider as You Work Through Your Own “Two Body Problem”

Before I dig into this, I wanted to point out this great article on solving the two body problem over at Tenure, She Wrote. She walks through some of the specifics of solving a two body problem as you’re confronting it.

Hand in hand with that, however, is the need for both partners to be on the same page. You’ve got to talk through this kind of situation and make sure that you’re both happy with the direction you’re heading in or else you’re going to create a miserable situation for the both of you.

Here are some key questions that you should talk over when you’re in a serious relationship with someone and see some version of the “two body problem” coming down the road.

Does Our Financial State Require Us Both to Have High-Paying Jobs?

One of the solutions to this problem is for one partner to accept a lower-paying job that has more availability and flexibility. This includes possibilities such as being a stay-at-home parent or starting some sort of small business.

The drawback here, of course, is twofold. First, there’s likely going to be a lower level of income than the family might expect. Second, you may find that the partner choosing the lower-income job is dissatisfied if they’re not able to use their skills or engage in the career path they’ve trained for.

For many families, it’s the first problem that is really the centerpiece. The reality is that 76% of Americans live paycheck to paycheck, and if you add on top of that the issue that many of the people dealing with the two body problem are people freshly out of school with quite a bit of student loan debt, it ends up being a very difficult situation for many families.

Situations like the “two body problem” are a perfect example of why it really pays off to have your financial ship headed in the right direction at all times. Spending money in frivolous ways on a highly regular basis does nothing more than keep your bank account empty so that you’re not prepared for situations like this. If you see a “two body problem” ever coming up in your future, the smarter you are in terms of your spending habits today, the easier that problem will be to solve tomorrow.

So, what can you do? Keep your spending under control. If you’re dealing with a two body problem, don’t inflate your lifestyle. Keep it cheap. Live in a small apartment. Drive a used car. Don’t go out to eat constantly. Look for free or cheap entertainment. Hammer down hard on your debts. This is even true if you both have good jobs right now.

Does Our Individual Personal Fulfillment Require Each of Us to Have a Particular Job?

Some people really only feel professionally fulfilled with certain jobs or career paths. They know what they’re passionate about and what really clicks with them and that’s what they have worked very hard to achieve in their life. Being turned aside from that path can be very self-defeating. I would put Sarah into this category, as she has found her “true calling,” so to speak. I think she would be very resistant to any other career path than the one she’s on.

On the other hand, some people are less tied to one specific career path. I’d probably put myself in that category, since I started off in a scientific research field and now find myself a freelance writer with a personal finance focus, and I’ve been genuinely happy in both fields.

It is absolutely vital that you understand which one of those two options best describes each of you. You are begging for personal misery and relationship misery if you take someone who is very passionate about a specific career and redirect that person elsewhere.

Is There Any Room for “Dual Negotiation”?

Some professions and some employers will actually work with you to help you find employment for your significant other provided you are a suitable and desired candidate for the position in question.

Many couples who are running into the “two body problem” likely have both members of the couple applying to any and all appropriate jobs. Thus, if one partner reaches the point of actually negotiating for a job, some assistance from the employer in helping to find a job for the other partner – especially if the areas of expertise of the other partner is in any way useful to the new employer – can definitely be part of a negotiated package. Even if there seems to be no overlap, an employer may be able to help in surprising ways.

It doesn’t hurt to bring this up as part of negotiating with an employer. You might be surprised to find that they can bring a swift solution to your two body problem.

Can Either One of Us Be More Broad in Our Job Search?

Sometimes, people will narrow down their job searches so specifically that only a handful of positions anywhere will match their needs. This often puts very tight restrictions on where they might end up in their career, which inherently puts an additional tight restriction on their partner.

For example, I know of at least one person who finished graduate school and put such incredibly tight restrictions on her requirements for a job that there might be one one position a year that would exist that she would be a reasonable candidate for. Thankfully, she was single and willing to do other work for a while to wait for her ideal position (it did eventually come along and she did eventually get the position because she was about as perfect for that position as a human being could get).

However, it did mean that she was very, very limited in her job search, and to accomodate that limitation, she had to work at a job that she was massively overqualified for and didn’t pay very well while she waited.

In most situations, both partners can broaden their search requirements a little in exchange for the benefit of actually being able to live in the same area. Yes, this might mean that one or both partners do not wind up with their “perfect” job, but the additional benefit of being able to live near your partner should make up for that.

Does Either One of Us Have Secondary Skills, Traits, or Experiences That Might Help Broaden Employability?

Step back for a second and look not just at your education and the jobs you’ve held, but your other life experiences and achievements. Are there any details in there that make you stand out from the pack?

Many people often limit themselves to what fits on the standard format of a resume or CV, when it’s often the unusual details that really make them stand out from the crowd.

The thing to always remember is this: most hiring committees and HR departments see tons of different resumes and applications, the vast majority of which seem almost identical to one another. What special experiences or traits make you really stand out from the pack and enrich your chance of being selected for another round of interviewing at as many jobs as possible? Find a way to include and highlight those things when you apply for a job.

Are We Willing to Live Apart for the Right Job?

This is a very painful question, but for some couples it might be the right solution, at least for a while. If one partner’s “dream job” comes along, are the two of you willing to live in different areas for a while?

Of course, this does carry the underlying question of whether you’re willing to break up or divorce over such a situation. If the situation of living in different areas becomes an extended thing, it’s human nature for the people involved to slowly drift apart as their day-to-day lives diverge more and more.

Again, it comes back to how career-focused people are. Some people’s personal identities and values are highly tied to their career and they value that career path more than individual relationships. Other people value the relationships that they have more than a specific option in their career. Neither one is right or wrong, but it needs to be clear and it needs to be clearly communicated with your partner.

Making It Work

Sometimes, things will go perfectly and two people will be able to find work applying their training in the same area, enabling them to live together and find meaningful and lucrative work. Those situations are incredible, but they’re not as common as one might hope.

Often, what will happen is that one partner or the other will have to compromise in some fashion – or both partners will have to give up something. Perhaps one partner will end up taking a “lesser” job. Maybe the couple will have to live apart for a period of time.

Whatever the compromise is, it’s not going to be easy. A person who takes a “lesser” job so that their partner can have their dream job or a job with incredible opportunities is going to be taking on a pretty stiff personal burden. Not only is that person not working at the job he or she would like to be working at, they’re also watching their partner “living the dream” and, in some cases, feeling rather left behind in that journey.

None of those results are easy. For this situation to work, I would put three things ahead of everything else.

One, you need to communicate clearly what you’re feeling and thinking with each other without judgment. If you can’t or won’t talk to each other (and won’t listen to each other) about the difficult aspects of your careers, especially when a compromise is involved, it’s going to be difficult to maintain a positive relationship. Sometimes, you have to simply listen and you have to turn off the need to be defensive or to judge. People have emotions, those emotions are complex, and sometimes they must need to be expressed.

Two, you need to be careful with your money. The more flexible you are financially, the larger the number of reasonable solutions to this problem. Don’t inflate your lifestyle until you’re in a situation that seems like it will last for the long term. Until then, live cheap, pay down your debts, and built up a big emergency fund so you can flexibly deal with whatever happens.

Three, you need to focus on career choices that open up better opportunities later on. This goes hand in hand with the “money” situation described above. If you’re careful with your money, you can afford some opportunities where the pay isn’t great but the ability to build connections and get published (if you’re in academia) and get interesting projects under your belt is much greater. Similarly, don’t be afraid to take some risks in your career path by biting off big, challenging things, because the upside can be tremendous. Those things can be golden later on, but they require you to live lean right now.

Final Thoughts

The “two body problem” is a solvable one, but it requires both partners to be smart about their money and their personal and professional choices, and it especially requires both partners to communicate clearly with one another.

Without those elements, career choices and personal choices are going to constantly butt heads in your life and leave both partners unhappy and, often, in poor career situations to boot.

Good luck.

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Why Dump When You Can Donate? Salvage These Items During Remodeling

As I write this, my husband and I are in the midst of a daunting home remodeling project – as in, we are up to our ears in drywall dust and walking around on subfloors. After writing about my urge to knock out walls and create an open floor plan in our home last year, and mulling over the costs for months, we decided to pull the trigger and reconfigure the bottom floor of the house we love early this year.

Long story short: Our project encompasses almost our entire downstairs, but leaves our updated kitchen, half-bathroom, and office area alone. Once it’s done, a living room, family room, and foyer will become one L-shaped space, and I’ll finally have something close to the open floor plan I’ve been craving for years. Finally.

Of course, the dream of remodeling a home isn’t nearly as carefree and idyllic as the reality. One aspect of our home remodel that worried me at first was the vast amount of waste we would create. After all, knocking out walls meant replacing some fairly new carpet and around 700 square feet of existing solid wood flooring. Plus, there would be doors, wood trim, and all kinds of drywall to contend with. In addition to being cheap, I absolutely hate throwing away “good stuff.”

Fortunately, after a little digging, I found I could get rid of the vast majority of these resources – and not by throwing them into a dumpster. In reality, there is an entire underworld of used building materials that are changing hands from day to day with positive effects for both the environment and our pocketbooks.

How Salvaging Building Materials Can Bring Used Items New Life

Internationally-recognized designer Pablo Solomon has seen how used materials can benefit neighborhoods and individuals firsthand. Growing up in one of the poorest neighborhoods in Houston, Solomon helped his father repair and remodel older homes to earn extra money as a child. Since many of the homes they refurbished were more than 100 years old, Solomon and his father did everything they could to salvage workable building materials for profit instead of letting them go to waste.

Materials they saved most of the time were bricks, lumber, pipes, and fixtures, but Solomon was also known for pulling out nails to straighten and use in future projects.

As a celebrated designer, Solomon relies on his love of used and vintage materials to this very day – a strategy that works particularly well for his historical restoration projects. According to Solomon, nearly any building material in good or decent condition can be reused in a different project.

Five Home Materials to Salvage, Sell, or Give Away

But, which materials work best? In addition to Solomon, several experts weighed in to tell us which home materials can best be reused and given new life.

Hardwood Floors

Designer Joe Human of Designs by Human notes that, despite any ideas to the contrary, hardwood floors are easily reused. When Human was working on a home remodeling project recently, he had someone come to the property and carefully remove all the wooden floors to reuse in their own home.

Thanks to my current “situation,” I can also attest to the value of old wooden floors in the secondhand market. When my husband and I pulled ours up for our remodeling project, I posted the giant pile of floors on my local Craiglist page to gauge interest. Amazingly, I had around 20 responses within in the first hour. And by the end of the day, a stranger from Craigslist hauled away every last board to use in their dining room and kitchen.

Their plan was to sand them, re-stain them, and nail them right back down, they said, which was perfectly fine with me. Not only did I keep around 700 square feet of wooden floors out of a landfill, but it felt good to help someone save money on their own project as well.

Carpet

While old carpet isn’t all that desirable, carpet that is newer or exceptionally clean is considered a hot commodity. Mindy Jensen of BiggerPockets.com found this out a few years ago when she was remodeling a home she had just purchased. The carpet already down was almost new, so she took it to a center in her area that matches homeowners with hard-to-recycle materials.

“The carpeting went to a homeowner who had a slightly smaller room that needed flooring,” says Mindy. “It was brand spanking new, and I hated to just toss it, but I couldn’t use it.”

My husband and I also gave this strategy a whirl during our home remodel. I had two rooms of two-year-old carpet that was almost immaculate; after all, I never let anyone wear shoes or eat or drink anywhere near it. I put our used carpet on our neighborhood Facebook page and I had at least 10 responses within minutes. And in the end, a neighbor took the carpet and refinished part of his basement – a huge win for both of us, since he got free carpet and I didn’t have to pay to have it hauled away.

Locks and Door Knobs

According to Teddy Poulos of A-Access Lock & Key of Charlotte, N.C., people commonly overlook quality door hardware when they’re remodeling or demolishing a property.

“Always remove your locks without damage in case you need to reuse them or give them away,” says Poulos. “You can restore locks,” he says.

And since door knobs and hardware are small enough to ship, you can even try selling high quality pieces or antique hardware on sites like eBay or Craigslist. Or, if you want, you can donate your used hardware and door knobs to a building reuse center or someone who could use them.

Light Fixtures

Kera Cherrey, owner of Chesapeake Staging & Design in Maryland, says one of the easiest items to put back into circulation is lighting. While builder grade and shiny brass fixtures of the 80’s can be downright ugly, many people will take the time to breathe new life into your outdated light fixtures to save money and keep them out of a landfill.

“The easiest fix is paint,” says Cherrey. “I once instructed a client to take an old, gold chandelier and paint it black. She did this with an ordinary semi-gloss, but the job would’ve been easier with a metal paint.”

The next easy fix is to change the globes, or the glass which illuminates the light, she says. “Updating the glass from a frosted to clear or colored globe can easily modernize a fixture while allowing more light to shine.”

Vintage items have also become increasingly popular due to the popularity of shabby chic and rustic home décor. “Really old things have a habit of coming back in style,” says Cherrey.

And if you don’t want to do these updates, that doesn’t mean someone else won’t. That’s why it always pays to give these items away instead of throwing them directly in the trash.

Cabinets

From bathroom vanities to kitchen cabinets, wooden furniture items are easily refurbished, repainted or refinished, and reused.

If you simply want to update your look without buying new, you can try staining or repainting your old cabinets and replacing the hardware for a fresher, newer look. (I sanded and re-stained all of my kitchen cabinets last year, and it gave my entire kitchen a brand-new look. You can read about it here.)

If you’re insistent on replacing your old cabinets, on the other hand, give away or sell your old ones so that someone else can make them look new. Chances are good someone will be able to repurpose your old cabinets for a home remodeling project of their own – or for use in a rental property.

flooring for sale at habitat restore

DIY’ers take note: Habitat for Humanity operates over 850 ReStore outlets that sell used or donated building materials and furniture at a healthy discount. Photo: wandering youkai

Other Materials That Can Be Reused

According to Martha Cerna of the housing nonprofit Habitat for Humanity, the organization’s ReStore storefronts receive and resell all kinds of building materials that can be reused, recycled, and upcycled. Currently, over 850 Habitat for Humanity ReStores around the nation accept everything from recycled paint to lumber, tile, and windows.

If you aren’t sure whether someone would want your used building materials, you can call up your local ReStore site or post your items on Craiglist or other local message boards in your area. What people are willing to take and reuse might surprise you, and you’ll never know what kind of response you’ll get until you try.

And if you’re not doing the demo yourself, there are entire businesses devoted to deconstructing your home or project in order to salvage as many materials as possible.

Deconstructing is “a definite ‘green’ trend because it keeps building materials out of landfills and can generate tax write-offs or extra cash to sellers who donate the materials to nonprofit reuse stores,” says Cheryl Reed, director of communications at Angie’s List.

“When a homeowner needs to demolish, instead of bulldozing the structure, these service providers use a crew to take apart the house by hand, getting salvageable things like lighting, molding, flooring, roofing materials, and what have you,” Reed says.

Experts Reed has worked with say that up to 85% of a typical home’s materials can be re-used if deconstructed in a careful, thought-out way, she says.

The process just takes longer than a traditional demolition, says Reed, which can be a hassle if you’re not prepared. That’s why your first step in salvaging materials should be planning ahead and looking for individuals who might want your materials as soon as you can.

Your Trash Might Be Someone Else’s Treasure

Before I began this process, I didn’t realize someone might be happy to haul away 700 square feet of wooden floors from my garage. But now that it’s behind me, I’m so glad I learned that people are generally more than willing to incorporate your used materials in their new building plans.

It just goes to show how your trash might be someone else’s treasure, and how a little ingenuity and craftsmanship can make old building materials look brand new. And since most of these items would have ended up in a landfill, anything that earns them a second life is a win for the environment – and for humanity.

The flip side to tall this is that if you want to save money on your own home remodeling project, shopping for used materials is equally smart. While saving money is the goal, saving the environment is even better.

Have you ever built something with used building materials? Have you ever given something away when your first inclination was to throw it in the trash?

Related Articles:

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This Woman Left Her Fiance Because He Wouldn’t Talk About Money. Would You?

Zhiltsov Alexandr/Shutterstock

How important is it to be open about money with your partner?

For Leslie Tayne, it was a matter of “I do” versus “I’m out.”

A year into their engagement, Tayne called it quits with her fiance “Jack” because he wouldn’t shed a light on his financial situation.

Tayne never knew how much money Jack made or how much debt he carried during their four-year relationship, she told Cathie Ericson at Learnvest.

When faced with the possibility of sharing the rest of her financial life with this man, Tayne ultimately decided she wasn’t willing to do it if he wasn’t going to open up to her.

Love and Money

Tricky as it is to talk about, money is no small matter in a relationship.

The more serious the relationship gets, the more it matters that you know — or don’t know — what your partner has going on financially.

A surprising 40% of couples do not know each other’s income.

Forty-two percent admit to lying to their partners about money.

We’ve talked before about the importance of budgeting together in a relationship and what it’s like to be financially dependent on a spouse.

When something as fundamental as money is shrouded in mystery, the relationship is bound to feel a strain.

Dishonesty or evasiveness about money erodes trust in general.

Mismatched approaches to spending, earning and saving can lead to disagreements about everything you do as a couple.

Lack of a cohesive financial plan will make it difficult to work together to build the life you both want.

When is it Time to Leave?

At first glance, you might think Tayne’s decision to leave her fiance is extreme.

The relationship started fine. They were around the same age, had good jobs and split costs for dates fairly.

“As our relationship progressed, however,” Tayne said, “I realized I didn’t know the basics about his money – not even a ballpark of how much he made.”

Worse, when she asked about money, he evaded her questions.

And eventually, things did start to become unfair.

He was staying at her house most of the time without chipping in for bills, taking too long to repay money she leant him and complaining about his pay at work.

“The one thing I did figure out was that I made more than him,” she said. “So I never pushed these issues further — until we got engaged three years into our relationship.”

Getting Serious About Money

But before tying the knot, Tayne knew she had to get serious about money.

“I finally explained that if he was going to continue withholding financial details, I wasn’t comfortable getting married.”

He never did come clean about money. So she called it off.

Tayne avoided the tough questions with Jack for a few years — probably longer than she should have.

From that relationship, she learned the importance of transparency.

“Issues like income disparity, past debt or even having differing money personalities can all become elephants in the room if you don’t tackle them as a couple sooner rather than later.”

She applies this logic to new relationships now — and happily reports she is dating someone “who is very forthright about every detail of his finances.”

Your Turn: Would you end a relationship if your partner refused to talk about finances?

Dana Sitar (@danasitar) is a staff writer at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more.

The post This Woman Left Her Fiance Because He Wouldn’t Talk About Money. Would You? appeared first on The Penny Hoarder.



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7 Stores That Are WAY Too Expensive (And Where to Shop Instead…)

save money

Old habits are hard to break.

Especially money habits.

Some money habits might keep you frugal. For example, being broke for years has me in the habit of thrift-store shopping for clothes.

Even as my income has grown, I still seriously contemplate whether to buy a pair of jeans for more than $10.

But some habits might actually be costing you money.

You might be stuck in a rut, going to the same grocery store without comparing prices, or defaulting to popular brands because you don’t know any other options.

We want to pull you out of that rut.

Here are alternatives you might not even realize are cheaper than seven popular brands:

1. Workout Wear

High Times Pant from Lululemon: $98

vs.

Brogan Legging from Fabletics: $79.95 ($49.95 for VIP members)

Lululemon is notorious for its $100 yoga pants.

Sure, they make your butt look great — but they’re not so flattering on your wallet.

Launched last year by actress Kate Hudson, Fabletics may be the next big thing in athletic wear.

Fabletics makes clothes you can wear from the gym, to the store and back home for lounging with the kids. It’s meeting increased demand for athletic wear that’s not only practical, but also super cute.

And it’s on a mission to do so at an accessible price.

Register here by taking their Fit Quiz to receive customized outfit recommendations from Fabletics style experts, based on your workout needs and fashion trends.

And if you register as a VIP member, you’ll get your first outfit for under $25, and an exclusive discount on all products.

As a VIP member, you’ll pay $49.95 each month, which becomes a store credit you can use toward future purchases on the site (orders of $49.95+). You can skip any month you want.

So you stay registered, pay towards store credit when you want and get a VIP discount on everything you buy.

2. Organic Food

KIND Bar Dark Chocolate Nuts & Sea Salt, 12 count at Whole Foods: $19.99

vs.

KIND Bar Caramel, Almond & Sea Salt, 12 count at Thrive Market: $15.99

If “organics” top your grocery list, “affordable” may not be your highest priority.

But, come on — you can do better than Whole Foods!

The grocer may be easy to love for its selection of craft cheeses, organic produce and more olives than you knew existed. But their prices are tough to love.

A Thrive Market Membership gives you organic foods at 20-50% off retail price. Plus, they offer Penny Hoarder readers and additional 20% off your first purchase and free shipping when you spend $49+.  

A one-year membership is $59.95. That breaks down to less than $5 a month, so it doesn’t eat away at your savings.

And this isn’t a subscription to a box of random stuff each month.

You do your own shopping, so you get to choose what you want and have access to a lot of hard-to-find organics for way cheaper than specialty stores like Whole Foods.

3. Groceries

Marketside 5-ounce spring mix at Walmart: $2.98

vs.

Little Salad Bar 5-ounce spring mix at Aldi: $1.49

 

Boca Original 4-pack veggie burgers at Walmart: $3.22

versus

Season’s Choice 4-pack veggie burgers at Aldi: $2.49

When you’re looking for low prices, Walmart is probably comes to mind.

Walmart does beat competitors in most categories, and even a lot of other grocery stores in price.

Except Aldi.

Aldi’s uniquely-efficient, no-frills grocery stores usually offer what you’re looking for at prices even Walmart can’t beat.

You won’t have the convenience of knocking out your pharmacy, clothing, home furnishings, office supplies and new iPhone purchases along with your groceries like you could at Walmart.

But Aldi’s low prices make an extra stop worth it.

4. Baby Stuff

Delta Children Bennington 4-in-1 crib at Babies’R’Us: $279.99

vs.

Delta Children Haven 4-in-1 crib at Target: $199.99

You’ll find a range of offers for baby at both Target and Babies’R’Us.

While Target generally beats Babies’R’Us on price, there’s actually a better reason to go with Target.

Target will reward you for creating your baby registry with them.

When you set up your gift registry, Target will give you a gift bag loaded with free samples and coupons.

And it’s not just junk. It’s real stuff you and your baby can use!

Included among $60 in free samples and coupons are items like a MAM pacifier ($5.99 at Babies’R’Us) and a Philips Avent natural bottle ($10.99 at Babies’R’Us).

You’ll also get sample packs of free diapers, wipes, vitamins, diaper cream and more.

5. Glasses

Vogue black square-frame glasses at Lenscrafters: $119 + cost of lenses

vs.

Muse Funk black square-frame glasses at GlassesUSA: $89, lenses included

We aren’t too subtle around here about how badly our boss needs glasses.

You can probably also guess “The Penny Hoarder” doesn’t want to spend a lot of money on this necessity.

We like Glasses USA because they tend to have frames of equal or better quality than those sold in stores like Lenscrafters — at a steep discount.

And for those of you who don’t enjoy the shopping part of shopping, buying glasses online offers additional perks.

There’s no pressure from a salesperson trailing you around the store.

Virtual try-ons help you see what the glasses will look like on your face — without taking off your old glasses (and prescription lenses)!

An online “storefront” has unlimited space, so you can browse a wider selection of frames than you might see in a little mall store.

Did we mention price?

A pair of glasses from Glasses USA — lenses included — can save you up to 70% off other retail stores.

6. Razors

Gillette Venus Swirl women’s razor with two blade refills from Walgreen’s: $14.49

vs.

Dollar Shave Club membership, with one handle + five blade refills: $3-$9

Don’t buy your razors at the pharmacy.

Have you heard of Dollar Shave Club yet? Do you know it’s not only for men?

Okay, now you’re up to speed for watercooler chat. Here are the details:

Subscribe to DSC and you’ll get one free handle to start, plus an automatic monthly shipment of five refill blade cartridges

The basic shaver costs $3 a month.

Three dollars a month! That’s $1 + $2 for shipping.

Upgrade to The 4X or The Executive shavers for $6 or $9 per month, respectively, for a better shave.

I’ve been subscribed to the basic razor for about two years, and I love it.

I would never spend the money, time or mental energy remembering to buy a fresh razor every week at the pharmacy.

This subscription service takes care of the remembering for me, and it’s cheaper than in stores.

7. Party Supplies

20-count Paper Plates at Party City: $4.99 ($0.25 per plate)

vs.

18-count Paper Plates at Dollar General: $2 ($0.11 per plate)


48-count White Plastic Forks
at Party City: $4.99

vs.

48-count White Plastic Forks at Dollar General: $1

For some things, you’re better off shopping at the dollar store.

Party supplies are a perfect example.

These are usually one-time-use items you don’t want to keep around the house after the party. So why spend a lot?

Party supply stores are tempting for holiday decorations, and all the little stuff you need to perk up a space for a celebration.

But you can usually find the same items a lot cheaper at a dollar store.

Things like paper plates and plastic utensils are virtually the same product at either store, too. You won’t sacrifice quality (or look cheap) saving money.

Your Turn: What brands do you find yourself turning to without thinking about alternatives?

Disclosure: This post contains affiliate links. By checking out this featured content, you help us bring you more ways to save!

Dana Sitar (@danasitar) is a staff writer at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more.

 

The post 7 Stores That Are WAY Too Expensive (And Where to Shop Instead…) appeared first on The Penny Hoarder.



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Savings update: cash Isa rates stagnant in run up to end of tax year

There is no sign of cash Isa rates improving in the run-up to the end of the tax year on 5 April.

There is no sign of cash Isa rates improving in the run-up to the end of the tax year on 5 April.

Traditionally banks and building societies edge up rates on Isas at this time of year, to entice savers looking to use their allowance. But this year has met with a deafening silence.

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I Just Lost My Job. Here’s How I’m Surviving Unemployment

what to do when you lose your job

After 41 years of steady employment, I was laid off from my position in the employment screening industry on January 6 of this year.

The staff returned from the holiday break, only to hear the words, “Thanks for your years of service. It’s over.”  

There was no early warning from our company’s owner — and for many, no time to prepare for those words.

But I saw the signs six months ago. Staff layoffs had started, and the once-steady flow of inbound work had slowed to a sluggish rate. So when the boss beckoned me into his office and began his speech (“You’ve been a good employee all these years…”) I wasn’t surprised at its end.

On the other hand, my now ex-office manager was wailing, wondering what she’d do to maintain her lifestyle.

While I was pondering my next career move, I had a plan in place for my finances — and it didn’t involve a GoFundMe page, begging from relatives or sofa-cushion-diving for spare change.

My plan involved a combination of common sense and creative side hustles to keep me in the money until I found a new job.

I’m doing this, and you can too. Here’s what to do if you sense you’ll soon be out of a job:

What to Do Before You Get Laid Off

You might not know when the ax will fall, but preparing early is a smart move.

1. Watch for the Signs

If other people in your department/office/section are being laid off, watch for the changes in staffing.

For example, if offices “suddenly” become empty, or the work of two or three other people starts landing on your desk, it’s likely something’s up.

It’s scary to ask management directly, but it’s usually better to know ahead of time, so you can get your resume out there.

2. Start Hoarding Cash

…And move it out of sight, so you’re not tempted to spend it.

Have money deducted from your paycheck and deposited into an online bank account, which can act as your emergency fund.

3. Take Advantage of Free Money

Many banks will actually pay you to open a new account. Get that free money — and use it to help your new account grow.

4. Get Direct Deposit

Lessen the number of trips you make to the bank, and disperse your paycheck into different accounts (checking, savings, funds for major purchases/payments, HSA, taxes, etc).

This helps you earmark your money for different purposes in your budget.

5. Make a Budget

Speaking of your budget, you need to know your essential expenditures.

These are the things you need to survive — like food, shelter and medical coverage — as well as necessary expenses like transportation and utilities.

Then pick through the rest of your costs and decide what you could do without.

6. Clean Up Your Resume

It should be ready to go the moment you need it.

Make sure your employment dates are correct and job descriptions are short, but vivid.

Don’t lie, but don’t be afraid to talk up your accomplishments and describe the impact you had on people and projects.

7. Prep Your Pantry

Shop now for these nonperishable food staples.

Don’t forget health and beauty items like shampoo, soap, toothpaste, toilet paper and paper towels.

What to Do When You Get Laid Off

In the moment, you’re likely to feel a lot of things: frustrated, upset, sad, confused. Having a to-do list can help you keep moving forward.

8. Get a Letter of Recommendation

Don’t leave your old job without a letter of recommendation or explanation as to why you’re leaving.

You may not get a second chance to get this, so it’s smart to ask your boss or HR manager while you’re still in the room.

9. Be Proactive

Yes, it stinks to lose your job. And it’s super tempting to sit on the couch, drink cheap beer and cry.

Make it less miserable: Get engaged in finding a new job right away.

10. Establish and Stick to a Schedule

Make it as close as possible to your old one, or try this science-supported routine.

When your day has a pattern, it’ll be easier to resume your “normal” life.

11. Dress for Success Every Day

When you shower and shave or do your hair, you’ll feel more human, even though you’re not working or interviewing that day.

12. Budget Cash for What You Need

Prioritize what you need right now, and figure it out weekly.

This isn’t the time to say “Charge it!” and figure you’ll pay it off when that new job begins.

You may be looking for a new job for weeks — or even months — so stick to your budget.

13. …But Try to Have Some Fun

A tight budget can still allow for a little fun.

It could be as little as one ice cream cone a week, or one new app a month. The job-hunt process is painful enough without inflicting complete deprivation.

14. Interview for Jobs You Don’t Want

Practice your answers to those tough questions! This is especially important if you haven’t interviewed in a while.

Your skills need a workout, and these are perfect, no-pressure opportunities.

15. Talk to Anyone Who Can Help

Speak with anyone who may be able to help you in your job search.

And thank everyone who does, even if the conversation doesn’t lead to employment.

16. Stay Positive!

Everyone says you’ll get through this, and another job will turn up before you know it. They can say that because they’re either employed or don’t need to be.

But it’s true: You will find work again.

It may not be in your chosen field, with the hours you want and desired salary. The reality of the job hunt is harsh and sometimes rude.

But you’ll find a new job — and so will I.

Good luck!

Your Turn: Have you ever been laid off? If you saw it coming, what did you do to prepare? If not, what did you do while you were unemployed?

Nancy Munro was born in Brooklyn, New York, raised in the city’s suburbs and attended Penn State, graduating with a degree in criminal justice. She is currently living in South Florida, doing what she loves to do (freelance writing) while pondering what she should do in life. Her home is also occupied by her husband David and two cats.

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Change and the Power of WHY

By Deb Bixler The “WHY?” question is useful when we are facing challenges in attaining something we want or making changes. I have learned that when I want something and cannot reach my goal, it is often because I am doing something to sabotage myself subconsciously. Often we say one thing and think another … […]

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