The front entrance to Lehigh Valley Hospital-Pocono, formerly known as Pocono Medical Center, will be closed for a week while construction continues on a two-phase improvement program.Workers will be repaving and pouring new concrete at the East Brown Street entrance area to make it easier for patients and visitors to get in and out of the facility. The entrance will be closed from Thursday to Tuesday.“It’s the second phase of our effort to improve the [...]
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الخميس، 3 أغسطس 2017
401(k) Balances are Up 9.6%. Here’s How to Make Sure Yours is Killing It
Find some wood.
Now knock on it.
The stock market has been doing pretty well lately.
Which is helping Americans’ retirement accounts.
(Yes, there’s finally some good news out there about our state of retirement.)
Many Americans are capitalizing on the healthy market. The average 401(k) account held $97,700, a 9.6% increase from last year, according to a recent Fidelity Investments report.
The report also discovered that employees are stashing away an average $5,850 a year in their 401(k)s and tend to opt for their company’s full match, an average of 4.5%.
In Bloomberg’s opinion, “Americans Keep Crushing It…”
How to Tell If Your 401(k) is Also “Crushing It”
Admittedly, I hadn’t checked in with my 401(k) in a while. I know, I know…
I finally looked the other day and was happy with what I saw, but I wasn’t sure if it was actually good.
Was I getting the most bang for my buck? Were my stocks and bonds properly allocated? I’m young; was I taking the appropriate amount of risk?
I’d heard about an online service called Blooom, an SEC-registered investment advisory firm that optimizes and monitors your 401(k) for you. One of its founders deemed himself a “Penny Preacher.”
I was sold.
I entered my name, birthday and the age I hope to retire by. Then I dug up my my 401(k) account’s email and password (so have that ready).
Within a few minutes, I received a free health report for my 401(k).
Here’s what it revealed:
I’d always heard hidden fees can screw you, so I was happy to see that part was OK. The other parts… not so much.
I decided to opt in for the $10 per month service. Within a few hours, Blooom had reconfigured my 401(k) without me having to do a single thing — except click a button.
I still have the option to adjust my preferences as needed, but I trust that the platform knows what’s best, based on my date of birth and the age I hope to retire.
Sticking to the online platform is a lot easier — and probably cheaper — than a financial advisor, which tend to charge $1,000 to $2,000 a year. It’ll update as needed and send me notifications.
Plus, it’s a lot better than diving into hours and hours of research, in my opinion.
Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder. She’s a big fan of anything and everything automated.
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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Here’s How to Get $20 Worth of Free Games This Month at Chuck E. Cheese’s
As you must already know, Charles E. Cheese’s middle name is Entertainment.
What? You didn’t know that?
Either way, the name suits the mascot of the pizza-focused entertainment center Chuck E. Cheese’s. And it definitely suits the sweet new deal it’s slinging as summer comes to a close.
From now through Aug. 31, when you spend $20 on games at Chuck E. Cheese’s, you get $20 in free games. Yeah, that’s right. Twenty bucks’ worth of Skee-Ball, Whack-a-Mole and other fun, yet oddly frustrating, games.
It’s a perfect fit if your kid has a birthday coming up, or you just want to celebrate the end of summer (and some much needed freedom from said kid).
How to Get Your Free $20 in Games from Chuck E. Cheese’s
Print out this coupon — or just have it ready on your phone or tablet — and present it at your next visit to a participating Chuck E’ Cheese’s. Then get ready for double the fun for $20.
There are some limitations: You can only use one coupon per check, and each guest can only redeem one coupon per day. The deal is only valid on weekdays, and you cannot redeem the deal Chuck E. Cheese’s locations in Hawaii.
Now, get out there and start gaming! And save me a Skee-Ball round and a slice, OK?
Alex Mahadevan is a data journalist at The Penny Hoarder. He was mostly a Discovery Zone kid, but he once ate an entire Chuck E. Cheese’s pizza by himself.
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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Amazon’s New Return Policy Will Be Great for Buyers, but Sellers Are Livid
Here at The Penny Hoarder, we’re all about the side hustle. For many people, that means selling a few things — or many things — through online marketplaces like Amazon.
Now, Amazon has made some sweeping changes to the way individual sellers process returns.
Starting Oct. 2, 2017, all products sold by private sellers will be subject to the same return policies as items shipped by Amazon.
So What Does That Mean for Buyers?
For shoppers, this means if you buy something through Amazon and don’t like it for any reason, you have 30 days to return it for a full refund without paying for the return shipping. You can simply print out a prepaid return-shipping label via Amazon’s Online Return Center and ship the item back.
No arguing your case with the seller. No worrying about getting stuck with something that’s broken, ill-fitting or just not what you wanted. Pretty sweet, huh?
The only thing the customer has to worry about is damage or loss during shipping. That part is the buyer’s responsibility.
I’m an Amazon Seller. Now What?
Some sellers may see this as an added convenience, but definitely not all of them.
For instance, if you have someone who purchased an item that has a slight scratch on it, you may not have the opportunity to negotiate with them.
In some cases, you’d rather give them a small discount than issue a full refund, right?
Amazon is also rolling out “returnless refunds,” which means a buyer may receive a refund for a product without sending the item back. For some items, this could be beneficial for the seller. For example, it can be expensive and pointless to ask a customer to return a large broken item. You can’t resell it, so why ship it?
Sellers can exempt some items from automated returns, and the returnless refund service is optional, according to a statement from Amazon.
The policy does, however, open the door to possible abuse by less-than-honest shoppers.
On Amazon’s seller forums, it’s clear that not everyone is on board with the change. Many sellers are speaking out about the new policies and the possible issues they could cause.
One seller posted, “And Amazon is going to assume that a buyer would NEVER lie about the reason for the return so they don’t have to pay for it.”
Hmm… that’s a good point. Remember, Penny Hoarders aren’t penny stealers. Amazon does track returns and may flag people who seem to have an overabundance of returnless refunds. What that number is, we don’t know. Returning too many items can even lead to a lifetime ban from Amazon.
The new policy may have some bumps along the way, but it could also make shoppers more confident in third-party sellers with better prices.
Buy with confidence, but use good judgment when returning items. If you abuse the honor system, you could hurt someone’s side hustle.
Tyler Omoth is a senior writer at The Penny Hoarder who loves soaking up the sun and finding creative ways to help others. Catch him on Twitter at @Tyomoth.
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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We Scroll Insta for 32 Minutes/Day. These Apps Could Actually Make Us Money
Young people and their dagnabbit phones, right? With their snaps and their grams and their selfies…. What’s the world coming to, really?
You might guess from what you see in restaurants and at bus stops that we — the country’s young people — are obsessed with seemingly shallow platforms like Snapchat and Instagram.
We’re mindlessly scrolling our days away and never bothering to process a word or — gasp — a full sentence.
You’d be wrong.
Here’s Exactly How Much Time We All Spend Browsing Selfies
For the first time in three years, Instagram has revealed how much time users spend on its app, Bloomberg reports.
The app’s most popular demographic, people under 25, are on the app a whopping… drumroll, please… 32 minutes a day.
Womp womp.
Do the math: That’s two minutes per waking hour.
Instagram users over age 25 spend less, about 24 minutes a day.
Snapchat users are similar, spending about 30 minutes a day on the app.
On Facebook, which captures a higher percentage of older users, the average U.S. consumer hangs out for around 40 minutes a day.
If we’re doing all three, that’s about 6 minutes an hour on social media. Not earth-shattering.
So get off your “young people these days” high horse and stop spying on and scoffing at my partner and me at dinner.
Hate Social Media? Use These Apps to Make Money Instead
Fine. Even if the number isn’t shockingly high, we could be doing other things with our time.
Almost anything else would probably be more valuable than scrolling through photos of our high school prom date’s new baby.
Here’s a compromise: We’ll use the time to make money… but we still get to be on our phones.
Here are some free mobile apps to make money while we ignore our family members over dinner tonight.
1. QuickThoughts: Go on Secret Missions
QuickThoughts turns your smartphone into private-eye technology, taking you on top-secret missions in your area.
QuickThoughts Missions relies on your input — and sneakily-taken cell-phone photography — to give businesses important feedback. And like any respectable PI, you get paid for your investigative footwork.
For your missions, you’ll earn points toward gift cards to retailers like Amazon and iTunes.
Bonus: It’s a great excuse to avoid eye contact with the cashier next time you go to CVS!
2. Letgo: Sell Your Old Clothes
Instead of sharing a #tbt photo of yourself in your old prom dress (‘hem, date cropped out), dig that dress from the depths of your closet — and sell it.
Stop storing clothes indefinitely, and try selling them on an app like Letgo. You can literally list something in less than a minute.
Need help getting rid of stuff? The Minimalists recently told us how to get started and living more meaningfully.
3. Ibotta: Get Cash Back for Your Groceries
This rebate app lets you earn money for taking a picture of your receipt — but skip the #richkidsofinstagram post.
Here’s how it works:
- Sign up for Ibotta here with your name and email address.
- Browse through the cash-back offers in your area and take note of offers next time you go to the store (they change every week).
- Once you’ve reached at least $20 in earnings, you can request payment via PayPal or Venmo.
And right now, Ibotta is giving new users a $10 sign-up bonus when you redeem your first receipt.
4. I-Say: Get Paid to Take Surveys
We need an excuse to put our opinions anywhere except Facebook. Here’s a way to get paid to share yours. Seriously, it’s better than likes.
The Ipsos I-say mobile app lets you earn about $5 for about 30 minutes of answering simple questions. Like: Coke or Cherry Coke? (Cherry, obvs.)
You won’t qualify for every panel, but if you answer surveys instead of scrolling through social media while you watch your favorite sitcom each night, you could pocket $100 this month!
5. InboxDollars: Get Paid to Watch Videos
Take a few minutes away from puppy videos each day, and flip over to InboxDollars instead.
The app’s videos are sponsored by brands that need to get them in front of as many eyeballs as possible. Every time you watch one of the ads, InboxDollars will credit your account with a little bit of cash.
Plus, you’ll get a free $5 just for signing up!
6. Stash: Get $5 to Start Investing
Stop clicking on GoFundMes for your friends’ cats, and start making your money work for you (and your cat).
Penny Hoarders are kind of obsessed with Stash, because it simplifies something we know we should be doing but always put off: investing.
Anyone can use Stash to start investing. You don’t have to have an MBA or even make it all the way through “The Big Short” to understand how to invest with this app.
You just choose from a set of simple portfolios reflecting your beliefs, interests and goals, and the app does the rest.
Here’s how to get a free $5 to invest:
- Use your email to sign up here.
- Download the Stash app on your smartphone, and set up your account with the same email address.
- Within two business days, you’ll see a $5 bonus in your account — just for signing up.
7. Acorns: Save Money Without Thinking About It
When I wanted to start saving money, I tried Acorns. It connects to your bank account, plus credit and debit cards, to help invest your spare digital change.
I spent about 10 minutes setting it up, and I saved $116 in three months without even realizing it.
At that rate, you could easily save $420 this year without even noticing a change in your budget. Plus, you’ll get a free $10 when you make your first investment.
That’s enough to cover one Insta-worthy road trip this year…
Dana Sitar (@danasitar) is a senior writer/newsletter editor at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more, attempting humor wherever it’s allowed (and sometimes where it’s not).
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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Kanye West’s $10M Insurance Battle Shows Us All Why the Fine Print Matters
Kanye West is in a massive legal battle with insurance underwriter Lloyd’s of London.
What’s at stake? A pretty $10 million to cover the losses stemming from his canceled “Saint Pablo” tour in 2016.
Here’s why the lawsuit is on the table and what it tells us about reading the fine print:
Fine Print Clause Causes Kanye West a Huge Legal Headache
Remember Kanye West’s highly publicized erratic behavior last year? If you don’t, here’s a quick rundown:
West completed 36 shows during his Saint Pablo tour. Then things fell apart. After his wife, Kim Kardashian West, was robbed of over $10 million worth of jewelry at gunpoint, West started to cancel shows left and right. At one point, the rapper claimed vocal cord issues were to blame, but he then started to unravel before the public eye.
After going on a bizarre political rant mid-November, West was admitted into the Resnick Neuropsychiatric Hospital at UCLA for exhaustion. West remained in the hospital for the next eight days, and the rest of his Saint Pablo tour was canceled.
Performances can be jeopardized by everything from natural disasters to the health of the performers. That’s why high-level performers often purchase insurance to mitigate the high risks of putting on concerts.
As reported by The Washington Post, West paid “hundreds of thousands of dollars” in insurance premiums, but now Lloyd’s refuses to pay the millions West and his company, Very Good Touring, are seeking to cover damages from the tour cancellation.
Its reasoning? West’s marijuana use could have caused the medical condition that led to the cancellation of the tour, and his insurance policy included a drug clause that stated “non-appearance stemming from use of alcohol or drugs will not be covered.”
What Yeezy Taught Us About Insurance Policies and Fine Print
West’s lawsuit denies the allegations that drug use caused the tour’s cancellation, but his situation can teach us a great deal about the fine print in insurance policies. When it comes to signing any legal document, you absolutely must read the fine print first.
If something happens that requires you to file a claim with your insurance company, hidden clauses can cause you a major headache and result in you not receiving the money you think you’re owed.
For example, some home insurance companies bury clauses about specific deductibles for catastrophic loss, according to Insure.com. These clauses often say that should you experience loss from a hurricane or tornado, you’ll have to pay a separate deductible in addition to your regular one when you file a claim.
Additionally, some homeowners insurance policies contain anti-concurrent clauses stating that if damage is caused by an excluded peril — one not covered by the policy — and a second event that is covered causes more damage or contributes to the initial damage, your insurance company will not cover any of the damage.
Even when you purchase life insurance, you need to watch out for clauses that might limit your coverage within the first few years. For example, a contestable period clause typically means that if you omitted health conditions from your application, you could be denied coverage. Other clauses may specify that if you were to die from suicide, or drug or alcohol abuse, the insurance company will not pay out the policy benefits to your family.
The moral of the story? Be smart when signing a legal document, especially when it comes to insurance coverage. If anything is unclear to you, make sure you ask before you sign. That way, if you were to experience something unexpected like West did, you’ll know exactly what financial issues you’ll face afterward.
Kelly Smith is a junior writer and engagement specialist at The Penny Hoarder. Catch her on Twitter at @keywordkelly.
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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Here Are the Occupations Most and Least Likely to Receive Paid Sick Days
If you’re a banker, financial planner or manager in an office job, you probably have regular access to paid sick days.
If you’re a waiter, you probably don’t.
That’s the conclusion in the latest data on workplace benefits released by the U.S. Bureau of Labor Statistics. In March, 93% of workers in the management, business and financial occupations had access to paid leave, while only 46% of service industry employees had those benefits.
Here’s a breakdown of the occupations the BLS studied and the probability that workers in each job type had paid sick days:
- Management, business and financial: 93%
- Professional and related: 85%
- Office and administrative support: 79%
- Installation, maintenance and repair: 73%
- Sales and related: 64%
- Transportation and material moving: 63%
- Production: 62%
- Construction, extraction, farming, fishing and forestry: 47%
- Service: 46%
As of June, there were 27.4 million service workers in the U.S., meaning about 14.8 million employees had to either suck it up and go to work when they were sick, or forego much needed pay and take a sick day.
That’s compared to 1.7 million workers in management, business or financial jobs.
Not Offering Paid Sick Leave Has Its Consequences
The U.S. doesn’t currently have a mandate on paid sick leave, but these five states do. And non-profit workers’ rights organization Workplace Fairness has a list of cities that offer paid days off if you’re ill.
But even with sick-day policies in place, things can go awry. Although Chipotle does offer paid sick days, it recently learned the consequences of not enforcing that policy. A worker caused the company’s latest taco tragedy when they came to work ill and ended up infecting more than 100 customers at a location in Sterling, Virginia.
Chipotle has since established wellness screenings at its restaurants to make sure it doesn’t happen again. But such low numbers in service occupations offering paid sick days means plenty of other companies aren’t offering the benefit.
So, think about that number again: 46%. The real question is, who will be the next Chipotle?
Alex Mahadevan is a data journalist 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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Automatically Enrolled in Your Company 401(k)? Here’s What You Need to Know
The No. 1 financial regret for many Americans is not starting to save for retirement early enough. Even those who do simply aren’t saving enough.
With that in mind, more employers are doing the hard part for you: They’re automatically signing employees up for a 401(k) plan.
So, if you’ve landed a new job lately (congrats!), you may have noticed that your employer automatically signed you up for its 401(k) savings plan. You may also notice the plan automatically allocated your funds based on your age. Your new company possibly even matches a portion of your 401(k) contributions. What a deal! You’re set, right?
Nope. Not really.
The key is to understand that your new employer is trying to help you get started with your retirement savings. Now, it’s your turn to look things over and make them work for you.
The initial contribution for most employer-sponsored auto-enrollment 401(k) plans is usually 3% of your paycheck. While that’s better than nothing, it is not enough to get you where you need to be by retirement age.
So How Much Should I Put in My 401(k)?
The first step is to look at your employer’s matching amount. If the company is willing to match a portion of your contribution up to 5% of your salary, then 5% is your bare minimum. If your employer offers no matching funds, you’ll need to increase your contribution to compensate.
Of course more is better. Right? But let’s be real: You still want to have some money left after taxes, Social Security and other deductions come out of your check. Answering these questions may help you decide what contribution level is right:
- What kind of retirement do I want? Quiet evenings in the garden or traveling the world?
- How much do I really need in take-home pay each pay period?
- How much, exactly, is 1% of my gross pay? Can I do without another 1% to fund my retirement?
Keep in mind that as your paycheck grows, your contributions should too. If you get a raise, go in and adjust your 401(k) contributions as well. Ideally, you want to get to 15-20% at some point, but set your sights lower and work toward growth.
Employers that automatically enroll employees in a 401(k) aren’t the bad guys. They mean well and are creating a way for employees to save for retirement, even if they don’t mean to. To get the most out of it, take your retirement planning in your own hands and set your contributions to a higher, yet comfortable, amount.
Now, enjoy your new job and keep saving!
Tyler Omoth is a senior writer at The Penny Hoarder who loves to soak up the sun and find creative ways to help others. Catch him on Twitter at @Tyomoth.
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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Celebrating Life Events Frugally and Meaningfully
I recently celebrated my birthday with my family and a few friends. It was a decidedly low key affair. We went out to dinner together at a pretty low-cost restaurant with some good vegetarian fare, and then we played some board games together. Yes, I’m quite the party animal, but this is actually exactly the kind of low-key event with friends that I really enjoy and prefer.
In contrast, two old friends of mine had major celebrations in their life recently. One of them celebrated the completion of her Ph. D. with a trip with her partner to Davos. Another friend celebrated her wedding anniversary by receiving a beautiful necklace with ten diamonds and four other stones (representing the birth stones of each of them and their two children) and taking a trip to a beach resort.
Don’t get me wrong – there’s absolutely nothing wrong with celebrating achievements, life events, and milestones. Celebrate your birthdays and anniversaries and successes with gusto!
The only caveat here is to make sure that the celebration doesn’t undo the successes you’ve built leading up to the celebration.
Your birthday celebration shouldn’t undo the progress you’ve made in your life goals that year. The same goes for your anniversary. Your celebration of hitting a financial goal shouldn’t involve spending a lot of money (which will undo that goal). Not only do such celebrations have a hefty cost attached, they often completely overshadow the very thing you’re celebrating and often leave you in a more difficult spot than if you’d celebrated modestly.
Not only that, many of the best celebrations in life don’t actually strain one’s budget or damage one’s life goals and ambitions. Here are five key approaches for celebrating life’s events with a frugal mindset.
Celebrate with Time (and Energy), Not Money
We have a lot of different resources in our lives. Time. Money. Energy. Often, when we celebrate, we’re using those resources for something that’s purely fun for us. We spend money on a material item. We spend money and time on a fancy vacation. We spend money and a little time on a big night out on the town.
Why not try a different approach? Rather than investing money in a celebration, simply invest some of your time into it.
What do I mean by that? Consider some of the following ideas for celebrating a life event, with ideas for both the celebrator and the celebrated.
Spend a day in genuine leisure by reading a book or binge-watching a TV series you’ve missed or working on some hobby project or something else entirely. Give yourself the reward of that blocked-off time to enjoy something that you don’t regularly give yourself time to enjoy. I often do this – rather than “blowing off steam” or celebrating by spending money, I’ll consciously block off most of a day to have a big board game day with friends or make a batch of home-brew or curl up with a book. That, in itself, is a great celebration.
Take care of a friend or family member’s obligations so they can have a day to themselves to do whatever they’d like. If you’re giving a gift to someone for a life event, rather than giving them a material item, take on some of their responsibilities. Everyone has a different story, so think about the person in question and consider what you can do to give them a day of freedom. Perhaps you can watch their children, or maybe you can do some of their chores. The end result is that you’re giving them the gift of time, by taking some of their time burden and putting it on your own shoulders. That’s almost always a great gift, and it costs you nothing in terms of money.
Give your gift with subtlety. Rather than doing something obvious, like giving a gift of “coupons” that the other person will be reticent to actually use, give your gift with much more subtlety. Simply put it in your calendar that you’re going to stop by and visit your mother each Friday and help her with some chores and grocery shopping. Simply commit, quietly to yourself, to calling up your sister once a month and offering to babysit for an afternoon so she can get some peace and quiet and unwind a little bit. On the big occasion, go small, but on the smaller occasions, go big.
Celebrate with People, Not Things
While it can often be easy to center your focus around the physical items and around the specific place you go, the truth is that the value of a celebration often comes from the people you’re with.
Take me, for example. A celebration really never feels complete without my wife, my children, my parents, and at least a few key friends. I like to have them all present whenever I can, especially when there is something to celebrate. The truth is that it really doesn’t matter what we do together. The enjoyable part of the celebration is the people.
I’m happy going on a picnic with them. I’m happy going on a walk in the woods with them. I’m happy playing a board game with them. To me, it feels like a celebration just because people I care about are together, and the actual activity doesn’t matter, nor do the gifts or the physical items.
Here are some ways to harness people power when it comes to celebrating life events.
Organize low key social events for celebrations. Don’t have an expensive dinner or an elaborate party. Don’t focus on expensive gifts or expensive accessories. Instead, focus on bringing together people you like to do something low key. Have a simple dinner party or even just a movie night. Put the effort into making sure people that the celebrator really loves and cares about are present, rather than on the specifics of the party itself. I’d far rather have a guest drive out of their way to pick up another friend than drive out of their way to pick up a gift, for example.
Intentionally pair people with low cost activities, and enjoy them together. Some of my friends deeply enjoy board games; others do not. Some of my friends love hiking; others do not. What I’ll often do for a celebration is plan a hike at 1 PM and then board games at 5 PM or something and then invite everyone to everything, giving them the times. I’ll then encourage friends who don’t like to hike to skip the hike, and friends who don’t like board games to skip the board games. That way, I get to enjoy low-cost activities specifically with my friends who also love those activities and not have to find things that include everyone. You can follow the same logic when planning a celebration for someone else, like a spouse or a close friend.
Give consumable gifts and establish that as a pattern among your group. A consumable gift – one that can be opened immediately and shared with the group – turns the focus of the event right back on the people. Rather than focusing on the item, it becomes quickly about the further shared experience. You can do this by setting an example of giving such gifts, sharing any such gifts you receive, and being open about your appreciation of them.
Celebrate with Experiences, Not Destinations
It’s often tempting to use your vacation time for travel with loved ones, which can be quite expensive. It’s often tempting to celebrate with friends to go out on the town – perhaps to a restaurant or to another place of interest. In both cases, however, the celebration involves some kind of destination – you’re going somewhere, which is inherently costly.
While going somewhere isn’t altogether bad, it really makes the most sense when done in the service of an experience. Why are you going out? Why are you traveling? What experience are you shooting for that you can’t get at home or at a nearby place or at a lower cost place? Most importantly, what local things are you overlooking?
The reality is that most areas have an abundance of overlooked options, starting at home, but extending to the local level. They’re found in forgotten things in your life, overlooked local sites, and in the passions of your friends. All of those things are wonderful sources of celebration!
Here are three ways to tap into celebrating with experiences rather than destinations.
Find local places and experiences you haven’t enjoyed. What’s available locally that you haven’t tapped into? Have you explored all of the trails at nearby state, local, and national parks? Have you visited all of the restaurants of interest? Have you checked out all of the groups of interest on Meetup? Have you checked out all of the local places of interest in your area? If you’re hesitantly answering “no” to those questions, then you have a ton of options available to you. Find what you’re missing locally and use that as a tool for celebration, preferably with friends. For example, my wife and I celebrated a life event not that long ago by simply visiting local wineries with friends and doing their wine tasting, picking up just enough bottles along the way to share at dinner together. It was a very low cost way to spend the day, in truth, and it resulted in a wonderful day together.
Dive into the interests of friends, or ask them to dabble in your interests. What do your friends like to do? There are few better ways to cement a friendship and to really maximize their celebration than by diving headfirst into one of their hobbies. My passion for home brewing was ignited by this kind of celebration, in which a friend of mine had a small birthday party that turned into what amounted to a home brewing class. It cost virtually nothing – we simply worked together to make a batch of home-brew – but it was absolutely amazing for him to be able to spread his hobby to a friend and it was fun for the rest of us to discover something new. For me, it ignited a new hobby.
Celebrate by doing something that stretches you a bit outside your comfort zone. Both of the above options will probably point you to things you would never have normally done as part of a celebration. That’s okay. Look at a celebration as not just an excuse to do the same old thing. Instead, look at it as a way to explore something new. There are few better ways to grow yourself and build relationships than by trying something new, and your local community and your local friends offer ample opportunities for that.
Celebrate the Event, Not the Prizes
A friend made a comment to me recently as he reflected on his wedding: “I don’t know why we planned so much and spent so much money. All I really remember is my wife and the people that showed up.”
The truth is that the core of most celebrations is the people you’re with and the event itself. A wedding is about a lifelong commitment between two people and the family and friends coming together to celebrate it with them. It’s not about expensive clothes or an expensive cake or an expensive band or photographers or all of that other stuff. It’s the event itself that matters and that sticks with you, not the prizes and accoutrements.
In fact, it’s often all of those extras that draw the focus away from the achievement itself. A wedding becomes less about finding the love of your life and more about the perfect cake and the perfect location and the perfect clothes. A birthday party can quickly start revolving around gifts instead of revolving around enjoying the people you’re with.
Here are three ways to turn a celebration back toward the event worth celebrating rather than the celebration itself.
Celebrate in a way that reinforces what you’re celebrating rather than working in opposition to it. If you’re celebrating a weight loss achievement, don’t go out for a giant meal. Instead, make a superb version of your favorite meal from your diet, or do something else entirely, like run a 5K. If you’re celebrating a career change, don’t use that celebration to burn bridges or make a jerk out of yourself by drinking too much. Instead, focus on cementing the good relationships you have going forward. Focus on what got you to the celebration and incorporate that into the celebration itself.
Allow the actual achievement fill you with pride and joy, not the celebration. The focus of a wedding celebration should be on the two of you, not the decorations or the locale or the food or anything else. The focus of a birthday milestone celebration should be the things you’ve done and the relationships you built, not the fancy dinner or anything else. Focus on your actual achievements and what they’ve brought to you and let that be your pride and joy.
Give a thoughtful gift rather than an easy one. If you’re giving a gift to someone, take the time to make the gift a thoughtful one that actually reflects who they are as a person. If you’re going to give something easy, make it a consumable gift as noted above, but if you’re not going that route, put thought into the gift and make the gift about the person themselves, rather than a thoughtless item.
Celebrate with Reflection, not with Erasure
Celebrations often revolve around some sort of “turning of the page” in life. You’re older. You’re now married. You’re moving on to a new career. You’re retiring. You’ve achieved a goal. Those are things that often signify moving onto a new stage in life.
Often, big celebrations turn into some kind of “erasure” of what came before. The big party itself can overshadow the achievement, or actually cause backtracking on the achievement in some cases. Often, the celebration becomes very disconnected from the event worth celebrating.
One great way to keep a celebration meaningful (and frugal) is to ensure that it remains intimately tied to what’s being celebrated. Here are three ways to achieve that.
Look for ways to help with positive connections with the past that can bring meaning going forward. Set up the celebration to intentionally highlight past events. Spend some time thinking about something meaningful to say to the person being celebrated, or to give a thoughtful set of comments if you are the person being celebrated. Orient the celebration around the achievement and the person, rather than the activity itself, and the activity becomes far less important and it becomes far more sensible to keep it low key and low cost.
Give gifts that genuinely highlight the event that’s passed, such as a memento of the achievement. The gifts that are remembered are the ones that are meaningful. The most meaningful gifts I’ve ever received were things like wall art made by the person giving it to me that highlighted some shared moment, or a large card filled out by several coworkers writing down what they had personally gained from our time working together. Those things meant something and they cost almost nothing. I know I’ve received many gifts over the years, but the ones that stuck were the ones that were connected somehow to the relationship shared, and those were almost always low-cost gifts. Focus on those types of gifts, ones that reflect on the moment rather than taking away from it.
Take the time to offer genuine and meaningful thoughts on the event being celebrated. Why are you at this celebration? Why is the person being celebrated? Why are you being celebrated? Why do you care about the people who are there? What have they taught you and brought into your life? Those questions, and how they’re shared, form the foundation of a truly great celebration. Make that the centerpiece in thought, word, and deed.
Some Final Thoughts
There’s often a big disconnect between meaningful celebration and expensive celebration. Often, the most thoughtful and meaningful ways to celebrate don’t cost much money at all. What they do cost, however, is time and thought and a bit of openness. Those are the truest gifts worth giving.
We often use money as a substitute for those types of celebrations and gifts. It’s worthwhile for all of us to rethink that exchange.
Good luck!
The post Celebrating Life Events Frugally and Meaningfully appeared first on The Simple Dollar.
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Reduce Investment Fees - Why Pay More Than You Have To?
Do you know how much you pay in fees for the handling and management of your investments? Keep the following tips in mind as you review your investments.
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Google Is Watching 70% of the Time When You Pay With a Card (Even Offline)
Google is collecting people’s credit and debit card purchase records, and one consumer protection agency isn’t having it.
On July 31, the Electronic Privacy Information Center filed a complaint with the Federal Trade Commission alleging that Google collects sensitive consumer information without disclosing how it’s obtained it or how consumers can stop it.
Google’s New Ad Program Is Difficult to Turn Off
Google’s new advertising program closely monitors consumer spending habits by collecting in-store transaction information from credit card companies and data brokers. The search giant says it has access to 70% of all credit and debit card transactions in the U.S.
Google claims to use this information to determine which digital ads push consumers to make purchases at physical stores.
EPIC’s main issue with this new system is that there is no effective way to opt out of Google’s offline behavior tracking. The complaint also says that turning off the offline behavior tracking doesn’t completely free consumers from being tracked, because ads are still served to them and logged with their IP addresses on Google’s server.
Furthermore, Google’s My Activity page provides no explicit instructions on how to keep Google from matching user data to the credit and debit card transaction information it collects from third parties. The Washington Post outlines the complicated process of opting out here.
According to the complaint, Google’s secretive algorithm that matches behavioral user data to the in-store purchase information lacks third-party auditing, which makes it a target for hackers.
Google told The Washington Post it doesn’t match credit and debit card data with specific personal information, such as names or addresses, and uses custom encryption technology that keeps the data private, secure and anonymous. As a result, the search giant claims consumers’ sensitive information is not at risk.
Google’s Complicated History With Privacy
Google has frequently been criticized for privacy issues. According to The Washington Post, Google paid “multi-million-dollar fines to settle FTC charges on privacy issues” in 2011 and 2012.
The 2011 case, which Google settled for $8.5 million, was in response to EPIC’s claim that Google used “deceptive tactics” and violated its own privacy policies when it launched its social network, Google Buzz. In the 2012 case, Google paid $22.5 million because it didn’t keep its promise that it wouldn’t place tracking cookies on the Safari browser or serve targeted ads to its users.
Kelly Smith is a junior writer and engagement specialist at The Penny Hoarder. Catch her on Twitter at @keywordkelly.
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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The Queen Sips 4 Cocktails a Day. Here’s How to Save Money Boozing Like Her
You can live like a queen, act like a queen, think like a queen… But can you drink like a queen?
The Queen, actually.
Queen Elizabeth, now 91, drinks four cocktails a day, Travel + Leisure recently shared.
She adheres to a bit of an odd drinking schedule, too.
Her first cocktail of the day is a gin and Dubonnet with a slice of lemon, lots of ice.
For lunch, she eats fish and veggies, which pairs well with a glass of wine and a piece of chocolate, according to her chef. The Queen also drinks a dry gin martini during this time, her cousin told The Independent.
The monarch holds out during her afternoon tea, but imbibes again after dinner with a glass of champagne, which she sips before heading off to her bedchamber.
Think you can drink like the Queen? Here’s how to indulge — on a peasant’s budget.
1. Earn Cash Back on Alcohol
Unfortunately, many of us can’t employ a private chef or shopper, so we have to disrupt our busy schedules with menial chores like grocery shopping.
Once you hit the alcohol section to stock up on your daily cocktails, break out the Ibotta app — which can help you save money on booze.
There, you’ll find cash-back offers on your favorite alcoholic indulgences, and they work at a ton of retailers, including grocery stores and liquor stores. We can’t guarantee the bottles are as high quality as the Queen’s, but here are some examples of what’s available now at Walmart:
- $5 back on Beefeater London Dry Gin (how appropriate!)
- $6 back on Cointreau
- $2 back on Stella Rosa
- $2 back on Martini & Rossi Prosecco
There are also deals on brands like Mike’s Hard Lemonade and Budweiser, but we can’t picture the Queen poppin’ those open.
If that’s more like what you’re looking for, though, browse Ibotta for all your options.
2. Get Cash Back When Eating and Drinking Out
Maybe you prefer to feel more like the Queen and enjoy being served at a bar or restaurant.
You know, like royalty.
You can still earn money back on your orders by using a free app like Subtotal, which earns you up to 10% back on your nights out.
Once you download the app, you’ll want to pursue its list of more than 70 eateries. It includes everything from California Pizza Kitchen to BJs Restaurants (those Pizookies, though…) to Applebee’s.
There, order yourself a cocktail or two. Pinky out. Sip.
At the end of the night, you’ll pay through the Subtotal app, and the rebate is automatically deposited into your account.
If you want more ways to save on booze, check out these five ways (all legal) to make money back each time you buy booze.
Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder. If she ever hits 91, you can bet she’ll be sippin’ on cocktails throughout the day, too.
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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These 16 States Hold Tax-Free Holidays for Back-to-School Shopping
Doesn’t it feel like summer just started?
So why are we discussing back-to-school anything?
Well, it’s because several states have special tax-free holidays scheduled over the next two months so parents can buy all the school supplies, clothes, shoes and electronics their kids need for the upcoming academic year and not pay the normal sales tax.
Last year, the National Retail Federation reported families with children in grades K-12 planned on spending an average of $673.57 for back-to-school shopping needs.
Skipping out on paying tax on those items help families keep a little more money in their bank accounts.
Tax-Free Weekends 2017
The first round of tax-free holidays starts in two weeks, so now’s the time to plan ahead and shop smart.
July 21-23
What’s Included:
- School supplies — $50 or less per item
- Clothing and shoes — $100 or less per item
- Computers — $750 or less per item
- Books — $30 or less per item
See here for a list of eligible and non-eligible items.
July 28-29
What’s Included:
- Clothing and shoes — less than $100 per item
See here for a list of eligible and non-eligible items.
July 28-30
What’s Included:
- Clothing and shoes — $100 or less per item
- School supplies — $100 or less per item
- Computers — $1,500 or less per item
See here for a list of eligible items and here for a list of non-eligible items.
Aug. 4-5
What’s Included:
- Clothing and shoes — less than $100 per item
See here for a list of eligible and non-eligible items.
This state’s sales tax holiday lowers the sales tax to 3% on the first $2,500 of any consumer purchase of an eligible item. See here for more details.
Aug. 4-6
What’s Included:
- Clothing and shoes — $60 or less per item
- School supplies — $15 or less per item
- Computers — $750 or less per item
See here for a list of eligible and non-eligible items.
What’s Included:
- Clothing and shoes — $100 or less per item
- School supplies — $50 or less per purchase (for graphing calculators, $150 or less)
- Computers — $1,500 or less per item (for computer software, $350 or less)
See here for a list of eligible and non-eligible items.
What’s Included:
- Clothing and shoes — less than $100 per item
- School supplies — less than $30 per item
- Computers — $1,000 or less per item ($500 or less for related computer hardware)
See here for a list of eligible and non-eligible items.
What’s Included:
- Clothing and shoes — $75 or less per item
- School supplies — $20 or less per item
- School instructional material — $20 or less per item
See here for more information.
What’s Included:
- Clothing and shoes — less than $100 per item
See here for a list of eligible and ineligible items.
What’s Included:
- Clothing and shoes
- School supplies
- Computers
See here and here for lists of eligible and non-eligible items.
What’s Included:
- Clothing and shoes — $100 or less per item
- School supplies — $20 or less per item
See here for a list of eligible and non-eligible items.
Aug. 5-6
What’s Included:
- Clothing and shoes — less than $100 per item (for accessories, less than $50 per item)
- School supplies
See here for a list of eligible and non-eligible items.
Aug. 11-13
What’s Included:
- Clothing and shoes — less than $100 per item
- School supplies — less than $100 per item
See here and here for lists of eligible and non-eligible items.
Aug. 13-19
What’s Included:
- Clothing and shoes — $100 or less per item
See here for a list of eligible and non-eligible items.
Aug. 20-26
What’s Included:
- Clothing and shoes — less than $100 per item
See here for a list of eligible and non-eligible items.
Writer’s note: If you live in (or close to) Delaware, Montana, Oregon or New Hampshire, you don’t need to worry about special tax-free holidays because these states don’t charge sales tax year-round.
Alaska also has no statewide sales tax, but local municipalities levy their own sales tax, The Motley Fool reports.
Nicole Dow is a staff writer at The Penny Hoarder. She grew up in New Jersey where there is no sales tax on clothes, but her family sometimes drove over to Delaware to take advantage of tax-free school supplies and electronics. She loved back-to-school shopping.
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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Read This Before Buying That Protection Plan for Your New Appliance
If you had told 20-year-old me that one day in the future I’d get really excited about buying a refrigerator, I would have doubled over laughing.
And yet, here I am.
My husband and I recently dropped a significant chunk of money on a new fridge, and it’s really rather odd how excited I am about a standard household appliance now that I’ve gotten older.
Then again, it does have French doors.
As we finalized the purchase and arranged delivery, the store asked if we wanted to pony up some extra cash for an extended protection plan to supplement the manufacturer warranty.
Since this wasn’t our first large appliance purchase, we knew this would come up during checkout. We did our research beforehand and went to the store armed with an answer.
Here’s what we learned — and the decision we made on whether or not to buy an extended protection plan.
What’s an Extended Protection Plan Anyway?
Extended protection plans are issued by the store selling the appliance and offer a wide range of benefits for over a period of several years.
In addition to 24/7 online support or covering the cost of parts and labor, some plans will even reimburse the cost of food spoilage or laundry services if your refrigerator or washing machine goes on the fritz.
Some protection plans also partially repay customers who don’t use the plan or allow customers to transfer coverage to a new owner if they sell an appliance covered under a protection plan.
An extended protection plan should not be confused with a manufacturer warranty. Manufacturer warranties come standard with most new appliances. They’re issued by the company that makes the product and are usually valid for one year to cover the costs associated with functional parts and labor.
A Look At the Numbers
To see what extended protection plans have to offer and which stores might have the best deal, I crunched some numbers to see if they’re worth it.
Here’s a look at extended protection plans from three nationwide stores that sell appliances, and what they have to offer.
(Note: Since some stores base the cost of an extended protection plan on the price of the appliance, I used the same refrigerator for all three examples.)
Best Buy Geek Squad Protection Plan
3-year: $124.99; 5-year: $199.99
Benefits:
- 24/7 phone and online support: No
- Food loss reimbursement: Up to $200
- Cost to transfer coverage to a new owner: Free
- Power surge protection: Yes
- Reimbursement on preventative maintenance parts: No
- Payback reward for not using plan: No
Read here for more details.
Home Depot Protection Plan
3-year: $125; 5-year: $200
Benefits:
- 24/7 phone and online support: Yes
- Food loss reimbursement: Up to $300
- Cost to transfer coverage to a new owner: Free
- Power surge protection: Yes
- Reimbursement on preventative maintenance parts: 25%
- Payback reward for not using plan: No
Read more about this protection plan.
Lowes Major Appliance Extended Protection Plan
3-year: $119.97; 5-year: $209.97
Benefits:
- 24/7 phone and online support: No
- Food loss reimbursement: Up to $300
- Cost to transfer coverage to a new owner: Free
- Power surge protection: Yes
- Reimbursement on preventative maintenance parts: 50%
- Payback reward for not using plan: Yes
Read more about this protection plan.
What Do the Experts Say?
Consumer Reports strongly discourages shoppers from buying extended service plans for major appliances. Its research shows most appliances don’t break down in the first few years and even when they do, repair costs aren’t that expensive.
“Save the money you’d otherwise spend on service plans,” recommends Consumer Reports. “Place it in a savings account, where you’ve socked away six months to a year of living expenses, or put it in a designated product repair/replacement fund. Then, when a product breaks, you’ll have the money to repair or replace it.”
Alternatives to Home Appliance Protection Plans
If you’re ready to skip the expense of an extended protection plan but don’t want to entirely fly by the seat of your pants and hope your appliance never breaks down, you’ve got some alternatives.
- Check your credit cards to see if any of them offer extended warranties as a standard benefit.
- Many used appliance stores offer warranties, so don’t be afraid to think outside the box (store) and check out what your local shops have in the way of pre-owned appliances.
- Do some research to find out the best time of the year to buy an appliance. New refrigerator models hit the stores in the summer, so May is a great time to score a deal on last year’s model.
The Decision We Made
In the end, we didn’t spring for the extended protection plan for our refrigerator. We decided to take our chances with the manufacturer warranty and also sock away a few bucks a month for unexpected repairs in case we chose poorly.
It makes more sense for us to park the money in an interest-bearing savings account to earn a bit of interest than to spend it upfront on an extended protection plan we may never use.
Plus, we like living on the edge.
Lisa McGreevy is a staff writer at The Penny Hoarder. She’s learned never to underestimate the excitement factor of French doors.
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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How I’m saving or investing with my Lifetime Isa at ages 18 to 21
The Lifetime Isa (Lisa) launched in April 2016 and is designed to help people buy their first home or save for retirement.
The product is available in two forms – cash and stocks and shares. In this article, Moneywise hears from four people who have opened an account.
You can only open a Lifetime Isa if you are between 18 and 39 years old. You can pay up to £4,000 into a Lisa each year until age 50, either in cash or to invest. Whatever you pay in will be topped up with a 25% bonus from the government, up to a maximum of £1,000. Any earnings will be tax free.
For those buying a home, the property must be valued at less than £450,000 and you must have had your Lisa open for at least 12 months.
If you’re saving for retirement, bear in mind you can’t access the cash until you’re 60 – unless you pay a hefty penalty.
AJ Bell, Foresters Friendly, Hargreaves Lansdown, Nutmeg and The Share Centre are the providers currently offering stocks and shares Lisas. Skipton Building Society is the only provider to offer the cash version.
We spoke to four young adults about how they are saving or investing using a Lifetime Isa and what they hope to do with the money.
‘To get a house deposit together is really hard’
Emily is a digital intern who is aged 21 and lives in Oakworth, West Yorkshire. She opened a cash Lisa with Skipton Building Society, so far the only provider to offer the cash account.
She is aiming to save around £330 each month and ultimately wants to save a £20,000 deposit so she can buy her first home. She is hoping to buy within the next five years.
“I currently live with my parents and four brothers in our family home, but I’m really looking forward to one day becoming a first time buyer and owning my very own house,” she says.
“I understand the importance of putting money aside and have various saving accounts for different goals. The Lifetime Isa seemed perfect for my house deposit savings, so after doing my research and finding this account which met my needs, I transferred my money over.
“To get a house deposit together is really hard, but with the Lisa account having the added government bonus it will make life so much easier.”
‘I want to be able to make the most of my money’
Olivia is 18 and from Bristol. She was one of the first people to open a Lifetime Isa with Hargreaves Lansdown after launch.
Although she is about to go to university, she decided to open an account now and start putting a small amount of money away. She hopes to purchase a property in around ten years.
“By starting a Lifetime Isa early I’m hoping this will make buying my first home more achievable as I’ve made a head-start in putting money away,” she says.
Olivia chose a stocks and shares version of the Lifetime Isa as she expects it to give her a better return than cash. She also plans to move some savings from elsewhere into her new account.
She says: “As I won’t be able to afford to buy a house for a while, I want to be able to make the most of my money in a Lifetime Isa. I wanted a Lifetime Isa that allows me to invest in the stock market as I know this could provide better long-term returns than leaving it in cash.
“Hopefully, this will mean I can buy my first home quicker.”
‘My savings are locked in for a specific purpose’
Eleanor is 19 and lives near Horhsam in West Sussex. She opened up a Lisa account with The Share Centre soon after the product became available in order to save for her first home.
She was told about the account by her parents, who wanted her to start building up a deposit.
“I was initially encouraged by my mum and dad to open up a Lifetime Isa”, says Eleanor. “I expect to buy a house in the next 5-10 years so the main attraction of a Lifetime Isa for me personally was the additional money that the government has outlined it will contribute.”
Eleanor has already maxed out the annual £4,000 Lisa allowance and plans to invest more next year using her savings and financial gifts.
“The money primarily came from other savings I had built up. I believe the benefit of a Lifetime Isa over other savings vehicles is that your savings are locked in for a specific purpose, giving me and other savers more of an incentive to put our money away.”
‘The Lifetime Isa has provided me with peace of mind’
Louis is 21 and lives in lives in Bradford. He has been living in rented accommodation but dreams of owning a home. He says he had considered other first-time buyer schemes such as a Help to Buy Isa, but liked the way he could make large deposits into the Lifetime Isa. His cash account is with Skipton Building Society.
“I first looked at the Help to Buy Isa and felt it seemed rather limiting due to the fact there were caps on how much I could save on monthly basis, and how much I could save across the year.
“When I heard about the cash Lifetime Isa, I felt the bonus was much more generous than the Help to Buy Isa, and the flexibility of how much I could pay in really appealed to me,” he says.
Both Louis and his partner Rebecca have opened separate Lifetime Isa products as they will be eligible for two bonus payments when they come to buy a house together.
He adds: “The Lifetime Isa has provided me with peace of mind, by knowing that I’m starting to set myself up for the rest of my life. I have a Cash Isa which I am also saving into, this is my ‘rainy day fund’ so I don’t need to dip into my other savings.
“I hope, in the not too distant future, that Rebecca and I will be able to buy our first home in North Yorkshire. It’s beautiful there and I can now see that dream become a reality.”
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