MAKE MONEY ONLINE POSTS: 05/02/17

الثلاثاء، 2 مايو 2017

Cost of moving soars to £9,500

Some 65% of would-be buyers typically expect the cost of moving house to be almost £2,000 less than it actually is, according to new research by the Post Office.

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Ready for Retirement? This Tool Will Estimate Your Monthly Social Security

How much do you really know about your Social Security benefits? If you’re like most people hoping to retire anytime soon, you probably know very little.

According to the Consumer Finance Protection Bureau, 30% of 60-year-olds can’t guess how much they will receive in Social Security benefits when they’re eligible in two years. And about 82% of people nearing retirement age don’t know that the age they begin claiming their Social Security benefits forever determines how much money they get each month.

This is a huge deal for those nearing retirement, because for many, their Social Security benefits will soon make up the majority of their monthly income.

The time to learn is now. That’s why the CFPB created a tool to teach us all about our benefits, whether retirement is right around the corner or still feels like a lifetime away.

How the Calculator Works

Head over to the CFPB website to give the calculator a try.

Remember, the calculator gives you a rough estimate based on current Social Security Administration regulations. So your actual Social Security payout may vary a bit.

To begin, you’ll enter your date of birth and your highest annual income.

From here, you’ll see a graph that shows you about how much you can expect every month during retirement. There is also a sliding scale that shows how the age you start collecting benefits, which ranges from 62 to 70, will affect your benefits.

I dropped in my information to try it out. Assuming nothing changes with how the Social Security Administration awards benefits in the next 34 years, I can expect about $1,200 per month if I claim my benefits at 62.

But if I can hold off until I turn 67, the calculator says my monthly benefits will jump 30% to $1,766. (Obviously, assuming nothing will change in my Social Security benefits by the time I’m 62 might be a mistake, but for those closer to retirement, the tool will be far more accurate.)

From here, you have the option of entering more specific information, including marital status, when you plan to retire and if you will earn additional income in retirement, to see how it will impact your benefits.

The purpose of the tool is to help with the critical financial planning we will all need to do to prepare for retirement.

Your Turn: Did you try the tool? Were your estimated Social Security benefits more or less than you expected?

Desiree Stennett (@desi_stennett) is a staff writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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Trump’s Tax Reform Plan Could Boost Your Paycheck, but What are the Costs?

President Donald Trump has been promising sweeping tax reform since his campaign.

His priorities were clear: He wanted to simplify the tax code and lower taxes for individuals and businesses. Last week, we got the first glimpse of the specifics his administration is proposing.

During a press briefing, Gary Cohn, Trump’s chief economic adviser and director of the National Economic Council, touted the plan as a “once-in-a-generation opportunity to do something big” and “the most significant tax reform legislation” in three decades.

While Republicans are still drafting the final bill, some critics are already predicting it will fail, while others are far more optimistic.

But before we get caught up in the clash of opinions, let’s talk facts and what they mean for you.

Trump Wants to Change How You File and Pay Your Individual Taxes

Many of the details are still sparse, but one thing is for sure: The Trump administration values simplicity.

“In 1935, we had a one-page tax form consisting of 34 lines with two pages of instructions,” Cohn said last week. “Today the basic 1040 form has 79 lines and 211 pages of instructions… And nearly 90 percent of taxpayers need some help in filing their taxes.”

Trump wants to change that.

To streamline the process, Trump wants to consolidate the seven current tax brackets, which range from 10% for poor Americans to 39.6% for the richest, into three: 10%, 25% and 35%.

Although the administration has not released the income requirements for each of the new brackets, we can already see that the richest Americans will pay less than before. It’s too soon to say how the change will impact middle- and lower-income Americans.

Trump also wants to nearly double the standard deduction, which is the dollar amount those who don’t itemize their deductions can subtract from their taxable income.

For single people, the 2016 standard deduction was $6,300. For married couples filing jointly, the deduction was $12,600.

“So, in essence, we are creating a zero tax rate… for the first $24,000 that a couple earns,” Cohn said.

That change mostly makes up for Republican plans to eliminate all individual tax deductions except those related to mortgage, retirement savings and charitable giving.

The plan also promises to provide child care relief for parents, but Cohn did not elaborate.

Massive Tax Cut for Businesses

One of the most aggressive changes the Trump tax plan proposes is to lower the percentage businesses pay in taxes. Currently, businesses pay a 35% corporate income tax, but Trump wants to lower that to 15%.

That lower rate would apply to all businesses, from massive corporations to mom-and-pop shops (and possibly us penny-hoarding freelancers, though the details are still being worked out).

According to Secretary of Treasury Steve Mnuchin, the tax cut is necessary to make U.S. businesses more competitive in international markets, create more jobs at home and boost the economy. In fact, the expected boost in the economy is how Republicans say the tax bill will pay for itself and reduce the national deficit.

However, this massive tax cut for businesses also creates a loophole for individuals, especially the super-rich, to abuse.

Remember the new tax brackets Trump wants to create? These are important here. New York Times writer Neil Irwin illustrated how easily we could all game the system and pay lower taxes.

Let’s assume Irwin, whose New York Times income puts him in the 28% tax bracket under the current law, would fall into the 25% bracket under Trump. Rather than pay that rate, he could easily form a limited liability company (LLC) that contracts with The New York Times to perform the same work he does now for the same pay.

“Under current law, I would pay the same taxes on that business income that I do on personal income,” Irwin wrote. “In important ways I would be worse off, as I would need to pay more of my own payroll taxes, wouldn’t have unemployment insurance, and would need to get health insurance through some channel other than my employer.

“But under the Trump tax plan, my tax rate would fall to 15 percent from 28 percent, saving thousands of dollars a year — enough to justify those annoyances.”

And uber-rich Americans could do the same thing and, instead of paying a 35% rate, get away with paying 15%.

Of course, for poorer Americans who would fall into Trump’s 10% tax bracket, starting an LLC would lead to a higher rate.

Mnuchin acknowledged the obvious loophole but didn’t provide specifics on how the tax plan would close it.

“We will make sure that there are rules in place so that wealthy people can’t create pass-throughs and use that as a mechanism to avoid paying the tax rate that they should be on the personal side,” Mnuchin said.

Killing the ‘Death Tax’

The final piece of this plan is something that’ll probably mean nothing to most of us: Trump wants to eliminate what is known as the “death tax.”

The way Cohn describes it, it seems obvious to repeal it:

“The threat of being hit by the death tax leaves small business owners and farmers in this country to waste countless hours and resources on complicated estate planning to make sure their children aren’t hit with a huge tax when they die,” he said. “No one wants to see their children have to sell the family business to pay an unfair tax.”

But in reality, most small-business owners and farmers will never have to think about it.

The death tax, the fee the government assesses on a person’s estate when transferring an inheritance after death, only applies to estates worth more than $5.5 million per person or $11 million for a couple. According to CBS News, the death tax is around 17% on average.

It’s not clear exactly when Congress will vote on the new tax plan, but Mnuchin said the goal is to present it before the end of this year.

Although Cohn said the plan is “good for America,” the Trump administration is gearing up for a fight to get it passed.

“This isn’t going to be easy,” he said. “Doing big things never is. We will be attacked from the left and we will be attacked from the right. But one thing is certain: I would never, ever bet against this president. He will get this done for the American people.”

Your Turn: Do you see the new Trump tax plan as beneficial or harmful for your family?

Desiree Stennett (@desi_stennett) is a staff writer at The Penny Hoarder.

CLOSING BELL: US stock indexes end with meager gains

NEW YORK — U.S. stock indexes are closing slightly higher as gains in industrial companies are offset by losses in automakers and energy companies. Engine maker Cummins rose 6.1 percent Tuesday. Automakers were broadly lower after posting weak April sales. Fiat Chrysler lost 4.3 percent and Ford gave up 4.4 percent. Energy companies fell after oil fell to its lowest price in almost six months. Rig operator Transocean lost 2.3 [...]

Source Business - poconorecord.com http://ift.tt/2pVhF1h

8 Teacher Appreciation Week Freebies and Discounts That Get an A+ From Us

Teachers, you guys have really, really hard jobs.

You have to explain what colors and shapes are and the sounds that letters make. (Non-teachers: Go ahead, try this on a friend. It’s not that easy.)

You have to learn, like, 60 new names every single semester.

And perhaps most horrifyingly, many of you have to grade final papers — a task I found so onerous when I was a teacher that I quit after just one year. Sorry, not sorry.

But much like Pretzel Day brings a joyful reprieve to the hard life of Stanley Hudson from “The Office,” Teacher Appreciation Week has the potential to make all that tough work worth it.

Because during this one week, people finally recognize that a pop quiz means more work for you, too. Because they recognize that summers off only barely begin to make up for your job: trying to talk sense to hormone-fueled, not-yet fully developed brains all day.

Because you deserve it.

… and mostly because free food.

Teacher Appreciation Week Freebies and Deals

Teachers touch everyone’s lives, so lots of vendors are showing their appreciation with freebies and discounts.

Many deals take place on National Teacher Appreciation Day — Tuesday, May 9 — while others last throughout the whole first full week of May, which is Teacher Appreciation Week.

So once the final bell rings, get your hardworking butt out of the classroom and take advantage of some of these eight rewards! Heaven knows, you’ve earned them.

1. A.C. Moore Arts & Crafts

Need craft supplies for the classroom? A.C. Moore Arts & Crafts will give you 20% off your entire purchase through May 6 — and yes, that goes for sale items, too!

2. Aerosoles

You’re on your feet all day long, so you’d better have comfortable shoes!

You’ll get 15% off any footwear items priced $39.99 or higher at Aerosoles — either make your purchase in store or phone in the order.

3. Chick-fil-A

Because this Southern fried chicken joint is franchised and each location is privately owned, there’s not an overarching deal — but we’ve seen lots of branches offering free or discounted food in honor of Teacher Appreciation Day.

Check with your favorite location to see what they’re up to! And if they don’t offer you free food…Well, you know where you keep that ruler.

4. EVOS

Here’s one our local readers will love.

Grab a friend and head to EVOS between May 1-5. When they buy one meal or salad, you’ll get yours for free in honor of Teacher Appreciation Day.

5. Greene Turtle

Live near a Greene Turtle sports bar?

This Wednesday, May 3, enjoy a free meal of up to $12 in value, or $12 off a more expensive menu item with the purchase of a beverage.

6. Major League Baseball

Hey teachers! Who wants to take me out to the ball game?

Most major league baseball teams are honoring teachers with ticket discounts, deals and freebies. Teacher appreciation nights include the Chicago Cubs on May 2, Washington Nationals on May 12, and San Diego Padres on May 19. Check your team’s website for details.

7. PDQ

Sick of the cafeteria food?

Get a free combo meal for lunch or dinner at PDQ on Tuesday, May 9, with a valid teacher ID.

8. World of Beer

Need to unwind from a tough day of teaching?

Get a free Angry Orchard or Sam Adams draught at World of Beer (or $5 off your check) any time on Tuesday, May 9.

Want More Awesome Teacher Discounts?

These 21 discounts are in effect all year long.

And hey — seriously — thank you, teachers. For all you do.

Your Turn: Who was your favorite teacher?

Jamie Cattanach (@jamiecattanach) is a writer was not at all tough enough to make it as a teacher. Her creative writing has been featured in DMQ Review, Sweet: A Literary Confection and elsewhere.

Editorial intern Jen Smith (@savingwithspunk) contributed to this post.

Scammers are Targeting Work-From-Home Job Seekers. Here’s What to Look For

The benefits of a work-from-home job can be grand.

You can work in your pajamas if you want. You can avoid the hassle — and costs — of commuting. If you set your own hours, you might get to sleep in every day.

But despite the advantages, there could be the risk that your remote job isn’t legit — especially if you’re working with an obscure company or you haven’t met with your employer in person.

Law enforcement officials are warning people to avoid work-from-home scams that could land them in jail by unwittingly laundering stolen money or shipping stolen goods.

How These Work-From-Home Scams Operate

The Ventura County Sheriff’s Department recently sent out a press release warning jobs seekers not to become victims of work-from-home scams. Since these crimes start over the internet, they are not localized to any one place.

Det. Tim Lohman gave me a couple of examples of how these scams work.

“The victim will accept packages from shipping companies like UPS, FedEx, etc.,” he said. “The products are all bought with stolen credit cards. The victim is told to apply a new shipping label from the scammers, and the products are sent across the US or out of the country to other criminals.”

Or instead of reshipping goods and packages, maybe your too-good-to-be-true remote job includes “processing payments.”

“The other jobs entail receiving money via check,” Lohman said. “The checks contain stolen account numbers. Upon receipt of the check the victim is instructed to wire money to a different location.”

He said these work-from-home scams are typically a fencing operation for a bigger criminal ring.

“Although the victim may have no idea they are helping the criminal enterprise, they can be held criminally liable if they continue to assist after being told to stop,” Lohman said.

How to Avoid These Work-From-Home Scams

Unfortunately, these scams end up happening to job seekers looking for legit work-from-home opportunities.

Lohman said the victim is targeted after posting a resume online with services like Monster or Indeed or after inquiring about a job they’d seen on websites like Craigslist.

“The victim is then contacted by text message or email with a job offer without a face-to-face interview or paperwork to fill out,” he said. “The employer rarely will call the victim by phone… [and] will offer a big salary or other flashy incentive.”

Lohman offered a few tips for people to avoid these scams:

Look for errors in spelling or sentence structure in emails

Be wary if there’s no face-to-face interviews or paperwork to fill out

Do not comply if the employer asks you to pay money up front or to deposit a check and then wire money

Lohman said if anyone suspects they are a victim of a fraudulent work-from-home job, they should contact their local police department to file a report, especially if they suffered a financial loss.

Victims can also report the crime to the FBI.

For more advice on avoiding work-from-home scams, check out these tips from the Better Business Bureau. You can also learn to avoid mystery shopping scams.

Want to learn about fun and interesting jobs, including legit work-from-home opportunities? Like The Penny Hoarder Jobs on Facebook to stay in the loop!

Your Turn: Have you been the victim of a work-from-home job scam?

Nicole Dow is a staff writer at The Penny Hoarder.

This New Real Estate Site is the Reality Check First-Time Homebuyers Need

Homeownership has always been out of the question for me.

Shotgun row houses in my former home of Washington, D.C., start at around a half-million. Maybe if I had a cushy ad agency job or a partner to help with the costs, affording such a home wouldn’t be as much of a stretch.

But as a single-income freelancer, it was a “nope, never” situation.

Fast-forward to life in Florida, where I find myself cruising the real estate listings on a near-daily basis.

“Houses are so cheap here,” I fake whisper to friends over happy hour. “I could buy one tomorrow!”

But could I really? Until today, I couldn’t put my finger on why homeownership still seemed so far away.

Enter Zillow’s new real estate listing site for millennials.

RealEstate.com is a Much-Needed Reality Check

Zillow’s new site, RealEstate.com, doesn’t look like a site designed for younger buyers. It’s a pretty typical setup, big on the photos and low on superfluous text.

But while other real estate sites, including Zillow, couch estimates for taxes and homeowners association fees deep within listings, RealEstate.com puts them out front.

Users can search homes by listing price or monthly home budget.

“The idea is to let users make an easy comparison between the cost of owning and renting a home,” Bloomberg’s Patrick Clark noted in a quick overview.

Take, for example, a condo building I’ve been eyeing since I moved to Florida.

The listing price for a three-bed, two-bath condo close to downtown St. Petersburg? $285,000.

It feels like a steal at first glance. But with a paltry 3.5% down payment on that price – about $10,000 — it quickly becomes evident on RealEstate.com that I can’t afford this thing. Not even close.

The site also reveals estimated closing costs of just over $7,000. (Admit it, no length of HGTV marathon has actually clued you in on how high closing costs can actually get.)

Based on that $10,000 down payment and a 30-year mortgage at 3.79%, my estimated monthly principal and interest payment would be just under $1,300.

It doesn’t feel like that much more than I’m paying for rent.

But then RealEstate.com estimates my property taxes ($380 per month), homeowners insurance, ($170 per month), mortgage insurance ($230 per month), homeowners association fee ($325 per month) and utilities ($150 per month).

Suddenly my “all-in monthly price” is more than $2,500 — more than double my all-in total to rent my apartment.

RealEstate.com explains it uses local averages for the most common costs of homeownership to come up with its calculations. So the numbers I nearly burst into tears over are not hard and fast, but they’re still a good estimate of what I’ll face if I ever sneak into my dream building.

It’s Fine, Millennials Aren’t Buying Homes Anyway

#ForeverRenter isn’t just a sarcastic hashtag I use whenever a homeowner friend complains about yet another home repair.

Renters outnumber homeowners in more than half of America’s 100 most-populated cities.

Clark notes that the median age of 33 for first-time homebuyers, along with the millennial focus on experiences over things and location-independent work all seem to argue against homebuying altogether.

So for now? I’m enjoying my rental, knowing that any time in the next six to 12 months, I could pick up and go somewhere else without much of a struggle. The closest thing I’m going to get to buying a home is criticizing people on “House Hunters” (loudly, over my bowl of popcorn) for their unrealistic expectations.

I’ll still routinely click on home listings, but this reality check on the actual numbers will remind me to keep dreaming (and saving).

Your Turn: Did you have any idea what closings costs can amount to before you read this post? Me neither!

Lisa Rowan is a writer and producer at The Penny Hoarder. She still can’t get over housing prices in Florida.

Finances Without a Direction in Life

During the first few years of marriage, my wife and I were largely directionless. We both had jobs that paid fairly well that we enjoyed and we had a vague sense that we wanted to have children someday and wanted to have a nice house someday… and that was about it. I had really vague dreams of being a writer at some point, but I envisioned myself being a lot older when I thought about it.

We drifted. We went out a lot. We traveled a lot. We basically just lived for the moment.

I could look back on those years, when we were in our early and mid-20s and were simply drifting through life, and say that I regret them, but I don’t, not on the whole, anyway.

There are really only two things I would change, looking back. One, I wish I had chosen to spend more of our time doing things that would have helped me figure out what I wanted from life. Two, I wish I had saved a little more and spent a little less. Neither one of those changes would have radically shifted how we spent those years, but they would have done a lot to change my life as it is now.

To me, those two principles are really the answer to one key question, one that comes up quite a lot in questions I get for the reader mailbag: How do I not make my life into a train wreck as I find my direction in life? People ask that question in some indirect way at least once a week.

Today, I’m going to give my best general answer to that question, and it’s somewhat encapsulated in the two changes I’d make above. In general, there are two things you really need to do if you feel directionless but are scared of wasting your life just wandering through it. Let’s address them in turn.

Finding Direction and Meaning Without Losing Freedom

One of the big realities of personal finance success is that it’s really hard to motivate yourself to make good financial moves if you’re not doing it for any reason that benefits your life. Once you get beyond some basic steps (which I’ll talk about below), it’s pretty difficult to convince yourself to take on meaningful financial initiatives because doing so eats into other aspects of your life. It’s pretty hard to buy into the idea of saving for a very unclear goal in the future if it takes away money from enjoying life today, in other words.

Thus, one big part of the equation for finding financial success in a life without direction is taking some basic steps to figure out that direction. It all boils down to a single question, really:

Where do you want to be in the future?

It is completely okay and completely normal to have no good answer to that question. If you see that question and draw a complete blank, there’s nothing whatsoever wrong with you. You’re not a failure. You’re not a weirdo. I’ve been there, as have most people that I know.

The first question, really, is do you need a direction in life? I think the answer is yes, but that “direction” doesn’t always mean the same thing for everyone.

What do I mean by that? I think having some anchors in life – good reasons to get out of bed in the morning and feel some excitement about the day ahead – is really useful for everyone. Without that, life does feel pretty empty. You can quickly find yourself in a cycle of things that are pleasant but not meaningful.

The one single meaningful anchor I had in the first few years of my marriage – and the one thing I built that really lasts from those years – was a strong relationship with my wife, and that’s all I really have from years of living. As much as my wife means to me, a full and rich life means having more anchors than just her (and I think she’d agree and say the same thing about herself – in fact, I know she would because we’ve had these kinds of conversations).

However, those anchors don’t have to lead anywhere in particular. Sure, some of them lead to big things. You might be anchored by a career you love that you want to build to a certain level (but you don’t have to be). You might be anchored by children and you want to raise them to be successful and independent adults (again, that doesn’t have to be your anchor). Or, on the other hand, you might just be anchored by something as simple as learning new things every day.

All that an anchor really is, then, is an area of your life that you want to improve about yourself or about the world around you, or something that you want to explore with more depth. That’s it. It really can be anything, as long as it’s something that you want to be better by the end of any given day. What do you want to be better about your life?

For me at that time, my one main anchor was my wife, and I wanted to constantly improve and strengthen my relationship with her. At the time, I didn’t really see it as a direction in life, but looking back, it obviously was.

Today, I have lots of anchors. My relationship with my wife is still a big anchor, but it’s now joined by the anchors that are my three children. Each day, I want to do what I can to be a supportive parent and help build them into functional adults to the best of my ability. Writing is an anchor – each day, I want to write (or conceive of ideas for) things that will help improve people’s lives. Learning is an anchor – I devote time literally each and every day to learning. And those are just some of the anchors I have, and together they provide a real sense of direction in my life. Some of my anchors have big destinations at the end. Others don’t. All of them, however, convince me to spring out of bed in the morning.

My sole piece of advice to anyone who feels directionless is this: Find some anchors. They don’t have to be big directions in life. They just have to be things that you’re excited to grow in each and every day. What do you want to dive into today? What do you want to be stronger when you go to bed tonight? Figure those things out.

How do you find those anchors, though? Try things. Try lots of things. If you don’t know how to do that, one way to start is to go to your city’s community calendar on the city’s website and go to as many of those things as you can possibly schedule just to see what they are. Do the same thing with your local library. Do the same thing with Meetup. Make a list of everything about yourself that you’re unhappy with, then try to find a couple of ways to correct each one, then do those things enough times so that you can get some actual feedback on whether they’re working. Make a list of things you want to learn about and try learning them, whether from a book or a deep dive into Wikipedia (to start) or a class or something else. Just try stuff.

What you’ll find is that a lot of that stuff just flows right by you. It’s not particularly interesting or exciting, and that’s fine. What you’re looking for are the things that resonate. Those are the things that you find yourself deeply enjoying in the moment, or you find your mind flicking back to constantly, or you find yourself thinking about when you go to sleep or wake up. Those things are potential anchors. Start digging into them. Do more of them. See how deeply that burgeoning interest goes.

What if you don’t feel like you have time for trying things? Well, for one, I’m not sure how you can feel directionless and also feel like you have zero time, but if you do find yourself there, drop some things. You’re clogging up your life with stuff you don’t find to be meaningful, so clear it out. Divest yourself of responsibilities, starting with the ones that have minimal effect on other people.

What you’ll find is that once you have several anchors, things you’re really excited about and want to dig into every day, your sense of directionlessness starts to fade. You do have a purpose – in fact, you have a lot of purpose. Sometimes, you’ll find that several of those anchors have a lot of synergy – they build on each other. You may also find that some of them point to an end goal or two – that’s a long-term goal, right there. You might even call it… a direction in life. At this point in my life, I think that a “direction in life” simply means that you have a lot of anchors with some synergy between them that call you to fill a significant portion of your day on things that fulfill multiple anchors.

You may also find that you really wish you could find ways to open up more of your life to these anchors, and that’s when we start getting into the financial part of things.

Anchors and Finances

Early on in this journey, you may not have any life anchors, or you may not have very many. You still feel directionless. What do you do?

At that point, the best thing you can do is to simply keep your options as wide open as you possibly can. You do not want to find yourself mired into a situation where you’re stuck in a job or stuck facing a lot of debt payments (thus requiring you to only be able to take certain jobs).

In other words, if you’re directionless, live as lean as you can. If you have debt, pay it off. If you don’t have an emergency fund (meaning you don’t have at least a month or two in living expenses in your savings account), build that up. Try to avoid taking on any more debt. Keep up to date on all of your bills and if you happen to be behind on any of them, make catching up a priority.

If it’s available to you, saving a reasonable amount for retirement is also a good move. Even if you don’t have anchors in life, you’re going to get older, and eventually it’s going to be more difficult and less compelling to work. If your work offers a 401(k) – especially if they offer any matching funds – put aside some money into there. If you don’t have that, start up a Roth IRA and contribute around 10% of your take-home income. If you’re making over $100,000 a year, you may not be eligible for a Roth, so learn more about Roth IRAs if you’re in that boat.

At the same time, live reasonably cheap. You don’t need to live like a miser, but you should be spending enough less than you earn so that you can save for retirement and build up an emergency fund without building up more debt. Learn how to prepare food at home instead of eating out constantly. Ditch cable unless you watch it a lot. Either find an apartment or a house close enough to work that you don’t have to drive there (and can maybe then ditch a car) or else find a cheap apartment or house. Look at smaller ones than you expect. Don’t replace your car until it’s in bad shape, not just because your lease is up or you’re no longer making payments. Those steps alone will get you there without really interfering with the things you do for enjoyment.

That’s really all you need to be doing if you don’t have a direction in life. It’s simple.

Now, as I mentioned above, if you feel directionless in life, the best thing you can do is to start finding anchors, and the more you find, the better your life will be. Anchors are simply things that make you want to get out of bed in the morning and things you genuinely want to improve at in some capacity each day. I want to improve my relationship with my wife and kids each day. I want to be healthier each day. I want to help people each day. I want to learn some things each day. Those are anchors for me because they’re meaningful enough for me that they push me out of bed each morning out of pure zest for making them happen.

Once you have enough anchors, you’ll find that one of two things start to happen. You’ll find that either your anchors are synergistic enough that they start giving you a clear single direction in life, or you’ll find that you have so many anchors that you want more time and energy to devote to them. Let’s address them separately.

What if you find yourself with a burgeoning “direction in life”? If that describes you, then you should orient your finances – everything you spend, everything you save, and so on on – around that direction. What kind of financial support does that direction need? Where is it leading and how will I have the money I need when I get there?

For me, my general direction in life pushes me toward helping my children become independent as they enter their twenties and then being prepared to fill in that empty time at that point. Thus, I’m saving for their college educations using 529 plans and I’m also saving for what will likely amount to a major career shift at that point. A lot of the anchors in my life synergize as I approach age fifty, so my financial plans are all about making sure everything launches at that point.

What if you just have a bunch of seemingly unrelated anchors that you’d love to be able to cultivate more? If that’s your situation, your financial planning should orient toward removing responsibilities and requirements from your life that aren’t anchors.

For many people, that means finding their way out of their current job, and thus they’re talking about either a major career switch or early retirement. In either case, you suddenly have a ton of incentive to really tighten your spending so that you can either amp up your retirement savings so that you can retire as early as possible or clear out all of your debt and other regular bills and perhaps save enough money quickly so that you can easily make a career switch.

A meaningful life is one where you have plenty of anchors to fill your days with joy and adequate resources to support those anchors. It may be that those anchors do form an overall “life direction” for you, and that’s great, but they don’t have to. They just need to give you meaning when you get out of bed each morning, and the financial role in that is to ensure that those anchors are well supported and secure.

We really need to talk about frugality’s role here. The areas of your life that aren’t anchors should draw as little of your money as possible. If you’re pulled out of bed with excitement each morning by the kind of soap you use in the shower, that’s great, but if you’re not, you shouldn’t be using anything more than the best “bang for the buck” soap bought at the best sale price you can find. Store brands and discounts should be your friend.

The real trick, though, is distinguishing between anchors and “perks.” Many people find themselves in a nonstop flood of “perks” in their life, where they buy high-quality and expensive versions of things that aren’t really anchors in their lives. Take coffee, for instance. Many people love their morning coffee, but is it one of the reasons they get out of bed with excitement in the morning? For some, sure; for many, probably not. If that’s not you, there’s nothing wrong with a morning coffee to wake you up, but you should be focused on finding a decent cup of coffee at a great price.

I have one friend who is an absolute coffee connoisseur – he absolutely loves it. He roasts his own beans and can wax at length about different bean types and roasting techniques. He has thousands of dollars in coffee brewing and coffee making equipment. Coffee is his anchor and that’s awesome – I don’t begrudge him investing his money in it.

If that’s not you, then coffee is a perk at best. Sure, enjoy a great cup as a treat, but don’t make it a daily thing. Find a way to make a decent cup as cheap as possible each morning and roll through life.

Final Thoughts

The recipe here is simple. Find your anchors. Invest in them. Don’t invest in things that aren’t anchors. That’s the secret to financial success in a life that feels directionless.

Your first step is to start seeking anchors without doing anything to disrupt your finances or bury yourself in a corner while seeking them out. Sure, that might mean working at a job that doesn’t excited you for now, and that’s okay. Focus your money on keeping as many options open as possible for you and focus your time and energy on exploring more avenues of life so that you can find the things that excite you.

After that, once you’ve found some anchors, hone your financial plans around those anchors. Trim the money and energy you spend on the things that aren’t anchors so that you can adequately support your true anchors. That might mean ditching hobbies or even cutting things that other people consider essential (like cable, for instance). Follow your anchors. Trust them. Support them. Sure, they may not collectively give you a direction, but what they will do is give every day meaning.

Good luck on your journey.

Related Articles:

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Time for an Upgrade? Here’s How to Sell Your Old Cell Phone

The average American upgrades their cell phone every 29 months, but I have a friend who goes through phones much more quickly than that. He likes to get the latest model every year.

During a recent hangout, he startled me by opening a desk drawer to reveal what can only be described as an electronics graveyard. It contained six iPhones, an old flip phone, chargers, cables, cases, and every dongle imaginable. There were arguably enough in there for him to open his own mall kiosk and sell phone parts on the side.

He told me how his drawer was filling up because he didn’t know what to do with the old phones. He knew he shouldn’t toss them, but he also didn’t want to go through the hassle of selling them. I offered to sell them for him and we agreed to split the profits.

Then, I had to dig into all the options for selling a used phone. What my I found was that there are always going to be tradeoffs. You won’t find a solution that is fast, easy, and lucrative. In general, the less sweat equity you want to put in, the less money you’ll earn.

Here are some of the best options for selling a cell phone:

Highest earning potential: eBay

After conducting my research, I chose to sell the phones on eBay. It’s the largest online auction site, with a robust used cell phone marketplace, so it allowed me to quickly get my listings in front of millions of potential buyers.

The downside of using eBay is that it takes a bit of effort to create an attractive listing. You need to understand how to take crisp photos, how to write a good description, the ideal days of the week to list, and at what price to start the bidding.

You also need to potentially deal with scam buyers and answer all the questions that come in from potential buyers.

Another thing to keep in mind when using the eBay auction method is that there’s a chance you sell the item for much less than it’s worth. That’s because, in order to attract bids, it’s generally recommended to start the auctions at an artificially low price. But, due to timing and listing issues, or any complex combination of factors, you might end up with very few bidders and a final sale price that will make you want to cry.

A few years ago, back when I was an eBay amateur, I convinced my girlfriend to let me sell her slightly used shoes on the site. Let’s just say she was less than pleased when I had to sheepishly mail off a pair of heels worth at least $75 for a whopping $5. My argument that we should just look at it like charity did not go over well.

For some people, learning the ins and outs of eBay and dealing with the hassle won’t be worth it. But, if you have the time and energy, you’ll usually sell your phone for a higher price on eBay than if you use the other options.

I was able to sell my friend’s phones with relatively little hassle. All the buyers paid on time and were very respectful. To me, the extra effort was worth it.

eBay also has a quick sale service, where you mail in your phone and eBay then pays you a price determined by their staff. If you take this route, you’ll sacrifice profit for convenience. For instance, if you’re selling an iPhone 6 in good condition, the current trending price on eBay for auctions is $225 and the “eBay quick sale” value is $150. For some people, the convenience may be worth sacrificing those $75.

Keep it simple: Trading in with your carrier or cell phone retailer

Any big U.S. carrier or cell phone provider will happily take your old phone off your hands via their buyback programs. Best Buy, Walmart, Target, Apple, Amazon, and all the major cell phone carriers offer this service.

The offerings of these companies are much like the eBay quick sale. You mail in your phone and get paid a fixed price in return. The difference is that they each make their payouts in the form of online gift cards or credits toward a new purchase. While credits are obviously not as fungible as cash, they can be useful to the person who’s simply upgrading and wants to keep things simple and minimize transaction costs.

If you’re particularly loyal to a certain company and you don’t want to deal with selling a phone on your own, this isn’t a bad deal. But, all things considered, you’re likely to get less money (and in a less liquid form) using these sellers than if you go elsewhere.

Keep it local: Craigslist

Craigslist, the free online classified site, is similar to eBay in that you’re in charge of creating a listing for your item. It differs from eBay in that there is no bidding system. You’ll receive direct offers from potential buyers, and sometimes people will try to lowball you.

But, if you’re patient, a Craigslist sale will usually result in more cash in your pocket as compared to doing the carrier trade-in option, or often even eBay. That’s partly because there are no shipping fees and no transaction costs (eBay takes 10% of every sale, and even a simple PayPal transaction carries a 2.9% transaction fee), and you can set your desired price without worrying about getting enough bidders. Plus, you’re almost always going to be paid in cash. As long as you know the fair market value of your phone and you’re willing to be firm, you should be fine.

Also, Craigslist is good for those who want to build social capital in their neighborhood. There is something nice about having personal interactions and potentially getting to know people in your community.

That being said, some people are wary of meeting up with strangers. The meetups also take time to coordinate, and sometimes people flake out at the last second. As with eBay, the time and effort needed to make the extra money might not be worth it.

Easy and flexible: Dedicated buyback companies

Gazelle, Flipsy, NextWorth and BuyBackWorld are all dedicated electronics buyback companies. They’re not affiliated with a particular cell phone provider or carrier. Like the giant corporations mentioned above, they’re targeting consumers who want to get money for their phones with minimal hassle.

They each operate on the same general principle: You mail your phone to the company and they take care of the rest. Some, like Gazelle, even offer to wipe your phone of all personal data so you don’t have to (I wouldn’t trust a third party to do this, but for the less tech-savvy it can be an intriguing option). Payments come in the form of a check or a PayPal deposit.

These companies also offer a 30-day price lock. If you upgrade every year like my friend, this could save you quite a bit of money. That’s because the resale price of a cell phone drops by 15% to 20% in the month leading up to a new release. If you know you’re going to upgrade every year, then you can sell your old phone the month before a new release. That way you can use your phone in the month leading up to the release without having to worry about it losing value when you want to sell it.

Flipsy is a particularly intriguing option, as they act as a sort of clearinghouse for all the authorized buyback companies. They vet and verify buyback companies who can then make competing offers to buy your phone based on the age, make, and condition of your device. These companies are likely to multiply as cell phones become more and more popular, so it could be nice to use a service that consistently assures you that you’re getting the highest offers.

A note about electronic waste

Most people selling used phones are doing it to make some extra cash from what would otherwise become a lifeless rectangle in a junk drawer. And that’s great. But, it’s also important to keep in mind that there are compelling environmental reasons to resell — or, at the very least, properly recycle — your old cell phones.

Far too many people simply discard old phones without thinking about the environmental impact of that choice. And as cell phones grow in popularity, the problem will only get worse.

In 2017, more than 50 million tons of e-waste are expected to be generated globally. While that’s just a small fraction of the total trash generated, electronic waste is particularly toxic. Phones are full of heavy metals that tend to leach into the local water supply if not recycled properly. For instance, a single lithium battery can contaminate 60,000 liters of water.

This is a particularly bad problem in China, where most of the world’s e-waste is processed. Lead levels in children are dangerously high in villages that process the most electronic waste.

By reselling rather than discarding, you’re earning money and helping to combat the global e-waste problem. If your phone is too old or damaged to be worth anything on the resale market, you can find a responsible recycling program near you on e-stewards.org.

Summing up

Every situation is unique, so the make sure to explore all of your options before selling a used phone. Keep in mind that nothing will be perfect. If you want to get rid of a phone quickly and easily, you likely won’t get as much money for it. If you want to maximize profit, you’re going to have to work a little harder.

It all comes down to how much free time you have and whether the benefits of earning extra money outweigh the opportunity costs of your time spent.

Related Articles:

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OPENING BELL: Slowing auto sales weigh on US stocks as indexes wobble

U.S. stock indexes are little changed Tuesday morning as weak auto sales drag down car makers even as other companies report strong earnings.

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Hollywood writers, producers reach deal; strike averted

The three-year agreement, which requires ratification by members of the Writers Guild of America, was confirmed by the guild and producers' spokesman Jarryd Gonzales shortly after the current contract expired early Tuesday.

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How Do I Make an Extra $150 a Month? One Nickel at a Time

I’ve always been the type of person who picks up recyclable items and puts them in their proper place. But in 2015, I moved into a building in Portland, Oregon, where a number of residents cashed in on the copious amounts of beer they consumed by returning cans to the market.

So I thought, why not make a little money on the side by recycling for profit?

I also needed to come up with a way to make extra cash after adopting my first pet, a dog named Sunny. I had no idea what I was getting into financially: vet bills, grooming costs, etc. I don’t begrudge a penny I spend on my pooch, but he does use most of the money I earn from collecting cans and bottles.

Collecting cans isn’t going to make me rich, but I try to top the previous month’s proceeds every month. When I started, I made around $70 a month. Now, it’s more like $150 a month.

Here’s how I make the most of my time to bring in this extra cash.

Which States Have Can and Bottle Redemption Laws?

Unfortunately, this strategy will only work if you live in one of the 10 states that have can and bottle deposit laws. In my opinion, all states should do this, but for now, here’s where you can make money with can and bottle redemption.

California

Californians can earn 10 cents for 24-ounce or greater containers, or 5 cents for smaller ones. Cans or bottles must be marked “CRV” for “California Redemption Value” or “CA Cash Refund” to qualify.

Bottles or cans can be from beer, malt beverages, wine coolers, hard cider, soda, sports drinks, water and most other non-alcoholic beverages. Bottles or cans from wine, milk and baby formula, as well as large fruit juice containers, aren’t eligible. (But please recycle them anyway, even though you won’t get cash for them!)

Connecticut

In Connecticut, consumers earn 5 cents for every returned container from beer, soda, mineral water and non-carbonated beverages such as Vitamin Water and non-flavored bottled waters.

Hawaii

Hawaiians can return glass, aluminum and plastic containers from beer, malt beverages, wine coolers, soda and water — almost anything except milk, wine and liquor. Just look for the “HI 5¢” logo.

Iowa

Iowans earn a nickel for every beer, wine, liquor, wine cooler, soda or mineral water bottle or can they return. As long as it’s alcoholic, carbonated or water, and it’s marked with “IA-5¢,” it’ll net you 5 cents.

Maine

In Maine, you can get 5 cents for every beer, wine cooler, hard cider, soda, non-carbonated water and other non-carbonated beverage container you return, excluding dairy products.

Wine and liquor bottles will earn you 15 cents each!

Check container labels for “Maine” or “ME.”

Massachusetts

Massachusetts offers a 5-cent redemption reward for the usual suspects: beer, malt, soda and other carbonated beverage containers.

Bottles and cans from wine, dairy products, non-carbonated drinks and liquor don’t count.

Michigan

Progressive Michigan has long applied a 10-cent deposit to beer, soda, water (sparkling and still), wine cooler and canned cocktail containers. You can’t return liquor or wine bottles, or containers from dairy products.

My only question for Michigan is: Who drinks canned cocktails?

New York

New Yorkers should look for the “NY 5¢” mark on the label of cans and bottles of beer, malt beverage, soda and “water that does not contain sugar” (so presumably Vitamin Waters are out).

There’s no redemption available on wine, hard cider, liquor, milk, sports drink or juice containers.

Oregon

Finally, we get to my state. As if I needed another reason to love Oregon, the Oregon Bottle Bill was updated on April 1, 2017, and I now earn 10 cents for every can or bottle of beer, soda, malt beverage, and bottled water, including Smart Water, Vitamin Water and mineral waters.

Juice, tea, coffee, coconut water and hard cider bottles and cans aren’t currently covered, but will be starting in January 2018. Liquor, wine and dairy product containers will still be exempt, but again, you should still recycle them.

In 2015, Oregon’s redemption rate had fallen to 64.5%. Presumably, that will change as empty cans and bottles morph into extra dollars. The state’s goal is to get its redemption rate above 80%.

Vermont

In the vanguard of the recycling industry is Vermont with a respectable redemption rate of 85%. That’s probably due to a 15-cent return refund on liquor bottles.

Beer, wine cooler, malt beverage, soda and other carbonated drink containers can be returned for a nickel. Wine, hard cider, milk, water and juice bottles and cans won’t earn you anything. Check the container for the “Vermont 5-cent” or “Vermont 15-cent” marking.

Where to Redeem Cans and Bottles for Cash

Redemption rules vary by state, but in most places you can return your containers to grocery stores, convenience stores or redemption centers.

Most grocery stores have an area cordoned off for their redemption machines, sometimes behind the store or in their underground parking lots. My favorite store keeps its machine on the rooftop and even though there’s only one, it rarely breaks down and if it does falter, a friendly clerk appears to fix it lickity-split.

If you don’t live near a grocery store, ask at nearby gas stations and convenience stores. My local convenience store only lets me return 50 cans a day, but that’s five bucks and it’s just down the block — much closer than the grocery store.

Before you go return your containers, make sure to check them for your state’s imprint, if it has one. I check all my bottles and cans, hoping to see “OR” in the mix. If a can has a “CA CRV IA-ME” stamp, it won’t garner me a dime — so I put it in my recycling bin instead.

Best Practices for Collecting Cans and Bottles

I’m not the only one in Portland collecting cans and bottles — there are legions of “gleaners,” the politically correct term for people who collect cans from recycling bins.

While it’s technically legal to pull stuff out of curbside bins, it’s kind of tacky. There are better ways to go about the gleaning business.

Here’s how I make the most of my time gleaning.

1. Ask Friends and Neighbors for Their Unwanted Cans and Bottles

Many of my neighbors say they don’t want the hassle of going back to the store to get 50 cents or a buck. Why not let yours know you’re willing to put in the effort? If you can return many containers at once, you’ll earn more money.

Once word got out in my building that I needed $50 to pay for my dog’s pain medication, I was so touched by how many neighbors offered me their cans. It got to the point where I couldn’t even open my front door without nudging plastic bags filled with returnable containers.

2. Offer to Pick Up Empties From Bars

Visit local bars and ask whether you can collect and return their empty containers. Offer convenient times for pickup and assure bar owners you will be prompt and responsible — no mess, no fuss.

I haven’t done this myself, but a friend of mine circulated letters with her phone number and got a few hits. In the end, she made verbal agreements with the bar owners, who were happy to help a starving student earn some extra cash.

3. Look Around Constantly

A large percentage of my side gig money comes straight from litter, which is sad but has morphed into a major motivator. I’m forever peeking under shrubs to find recyclables, and I even bought a grab stick for those hard-to-reach hiding places.

Whenever there’s an event downtown or in my neighborhood, especially a marathon or street fair, I clean up — fiscally and literally. It’s astonishing how many people feel compelled to drink purified water to cleanse their bodies only to diss the environment by tossing the bottles in gutters and on the ground!

4. Be Prepared and Protect Yourself

Always wear gloves, please. As a recycling newbie, I learned this lesson right away. It’s too easy to cut your hands on broken bottles or the sharp edge of a can someone poked holes through. Now I wear a pair of garden gloves to keep my hands safe.

I’ve also missed out on moneymaking opportunities by forgetting to pack garbage bags in my purse or backpack. When I go for a walk, I always make sure I have a bag or two stashed away in case I find returnable containers.

And know when the reward isn’t worth the risk. I once thrilled at the sight of a white plastic bag on the sidewalk near a bus stop, figuring someone left it there for a hungry gleaner like myself. But when I unfurled the twist tie, I noticed a few syringes bobbing in the mix, and realized I had to pass on the potential bounty.

How Much Money Can You Make From Can and Bottle Redemption?

When I first started collecting bottles and cans, I made about $70 a month.

Now, it’s closer to $150, and with Oregon’s newly raised return incentive, I expect my revenue to remain the same or go up a notch, possibly to $200 a month.

The time I spend collecting and recycling for cash varies from the two minutes it takes to accept a bag of cans from a neighbor to standing in line for 30 minutes at a redemption center. Since I normally combine collecting with whatever else I’m doing — walking around after a doctor’s appointment, for example — I don’t keep track of the time I spend gleaning.

For me, it’s worth the two to three hours of daily exercise and effort to afford the little extras for myself and Sunny. His bully sticks are more expensive than my lattes, but that’s OK.

Gleaning Keeps Money in the People’s Pockets

Tossing your soda can into the garbage is not only bad for the environment, but it’s also great for filling corporations’ pockets and state coffers.

Bottle and can distributors charge you a deposit when you buy a bottled or canned beverage. If you don’t return your cans or bottles for redemption, depending where you live, either the state or the distributor gets to keep the money.

You might not care if the distributor or the state gets an extra nickel or two, but multiply that by millions of consumers, and you can see where I’m going with this.

Why not let those extra nickels and dimes — and dollars — add up in your own pocket?

Your Turn: If you live in a state with bottle redemption rules, do you collect beverage containers?

Sandra E. Stevens is a Portland-based writer who has contributed to Salon.com, Chicken Soup for the Soul, Skirt Collective and many other publications. She can be reached via Twitter: @sestevens4pdx

Bank of Mum and Dad to fund a quarter of properties in 2017

Hannah Nemeth

BankofMumandDad.jpg

Parents will lend more than £6.5 billion in 2017 to help their kids get onto the property ladder, putting it on a par with the UK’s ninth largest mortgage lender (Yorkshire Building Society), according to new research by Legal & General.

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One in seven pre-retirees don’t have a pension

Rachel Lacey

pension-plan.jpg

One in seven people aged between 55 and 65 do not have a private pension, according to the latest research from Aegon.

The pension provider says that this means there are some 1.2 million people approaching retirement who will not have any other income to supplement their state pension.

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Check your wallet – paper £5 notes must be spent by Friday

Adam Williams

gbp-notes.jpg

It’s time to check your wallets, purses, and piggy banks as the paper £5 note ceases to be legal tender from Friday 5 May 2017.

This means the notes, which bear the image of prison reformer Elizabeth Fry, do not have to be accepted by shops, banks or building societies.

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9 Easy Ways to Save on Your Next Home Improvement Project at Home Depot

Do you find yourself browsing Pinterest after every episode of “Fixer Upper” thinking, “I could do that”? Or maybe your dreams aren’t about shiplap and midcentury modern, but they would require replacing your turn-of-the-century appliances.

While I personally have a problem hanging anything straight, maybe you’re the type of person who’s graduated from replacing door knobs and have the chutzpah to take on home improvement like a champ.

If you plan on tackling it with the Home Depot, check out these nine ways to save and make the most of every paint color misjudgment, sledgehammer swing and electrical shock that may be in your future.

1. Enroll in Pro Xtra

Pro Xtra is Home Depot’s program for professionals, but you don’t need to be certified or licensed to sign up. Anyone who’s a frequent shopper at Home Depot or undergoing a big project can benefit from this program. You can get paint discounts starting at 10% after $2,000 in paint purchases and reduced pricing on orders over $1,500.

Members also get special Home Depot coupons, weekly ads and purchase tracking, which can come in handy for tax purposes if you sell your home.

2. Take Advantage of Home Depot Fuel Rewards

If you have a commercial credit card from Home Depot, you can sign up for Fuel Rewards. You’ll earn at least 10 cents off per gallon for every $100 you spend on qualifying purchases at Home Depot. You have until the last day of the calendar month following your purchase to use those rewards. The rewards are good for up to 20 gallons of fuel.

This offer isn’t available through Home Depot’s consumer credit card or home improvement loans. Fortunately, you don’t have to be a contractor, own a business or have a business account to apply for Home Depot’s commercial credit card. If you plan on making it rain at the Home Depot, it’s worth applying for this card.

3. Check the Home Depot Deal of the Day

Even those of us without Pro Xtra perks can benefit from Home Depot’s savings center. You’ll find the special buy of the day, which is a one-day, online-only sale with free shipping. You can also click by category to see all available discounts.

4. Buy Discounted Gift Cards

Sites like Gift Card Granny list gift cards people are selling through multiple resale sites. You won’t get huge savings, but buying a gift card at even a 6% discount saves you a few dollars. Home Depot has no restrictions on using gift cards with other discounts and promotions.

See how we got a free $10 Home Depot gift card using MyPoints.

(Bonus: Here are a few proven ways to score more free gift cards.)

5. Search the Rebate Center

Home Depot’s rebate finder lets you check out all the rebates on products available in your area. You can narrow it by appliance, brand or type of rebate to maximize your savings. Once you make your purchase, verify it online to get your rebate!

6. Check out the Overstock Page

Home Depot lists its overstock merchandise at discounts up to 75% off. Even if a discounted item isn’t available in your area, Home Depot will ship most items to your store for pickup at no extra cost.

September and October are good months to find deals on major appliances, October and November are best for patio furniture, and April is a good time to by plants.

7. Check for Home Depot Rebates on Ibotta

If you’re not in the market for a refrigerator or insulation, the rebates on Ibotta may be more your speed. Download the app, and unlock rebates on items you plan to buy. Once you make your purchase, just upload your receipt and get your rebate within 48 hours. So simple, my weed eater could do it!

8. Sign up for Emails

You’ll get $5 off your next purchase of $50 or more for signing up for emails from Home Depot. Once you’re on the list, you’ll get emails with special promotions, how-to projects and design ideas! Just don’t let it tempt you to buy all those plants you don’t need and will probably kill in two months.

9. Check Competitor Prices

Home Depot’s low price guarantee ensures you’ll get the best price whether you’re buying online or in-store. If you find a competitor with a lower price on an identical, in-stock item, Home Depot will match it. What’s more, you’ll get an additional 10% off the matched price on in-store purchases.

Your Turn: Are you going to use any of these tips to save on your next home improvement project?

Disclosure: Here’s a toast to the affiliate links in this post. May we all be just a little richer today.

Jen Smith is a writing intern at The Penny Hoarder and the blogger behind Saving with Spunk. She’s got shiplap dreams but seriously lacks interior design skills.