Giant launches new shelf tags to promote Pa. products

Giant is introducing the PA Preferred shelf tags at all of its 156 stores located within the Commonwealth. PA Preferred is the official brand of food and agricultural products grown, produced or processed in Pennsylvania.The tags will be displayed on shelves for over 900 items made or grown in Pa., including meats, dairy, snacks, condiments, sauces, pet food and even craft beer and wine.This new tag program arrives at the start of the local produce season. Giant will recognize [...]

Source Business - poconorecord.com http://bit.ly/2RrBb06

Webster Bank Mortgage Rates Review

Harold Webster Smith founded the bank in 1935 using $25,000 borrowed from his friends and family. At only 24 years old, Webster wanted to make homeownership a reality for Depression-era Americans. Originally named First Federal, the lender changed its name to Webster Bank in 1995, when Harold Webster Smith retired from his role as a chairman.

Webster Bank offers numerous home mortgage options in Connecticut, Massachusetts, Rhode Island, and Westchester County in New York. They also offer banking and retirement planning services.

Webster Bank Mortgage Facts

• Founded in 1935, in the midst of the Great Depression
• Offers government-assisted home loans, such as FHA, VA, and CHFA mortgagesProvides construction loans to assist borrowers in building and renovating their dream homes
• Allows first-time homebuyers to view mortgage rates directly online
• Offers jumbo loan options over $453,100 at fixed or variable rates

History of Webster Bank

Webster Bank was founded in 1935 in Connecticut. The organization changed its original name, First Federal, in 1995 to honor founder Harold Webster Smith when he retired from the business. This bank, which services select states in the Northeast U.S., offers many financial products in addition to its mortgages and other loans.

It has $27 billion in assets, which is significant considering the limited amount of geographical areas this bank serves.

Webster’s main principle, “The Webster Way”, emphasizes collaboration and ethical behavior as well as putting people first and treating them with respect. Webster Bank strives to create positive experiences for its customers, displaying dignity and creating trust.

Webster Bank Loan Specifics

This regional bank offers plenty of home loan options to cater to various homebuyer needs.

Webster Bank Fixed Rate Loans

These standard mortgages offer consistent monthly payments over the life of the loan. Webster Bank recommends these types of loans for buyers who plan on staying in their new homes for several years. They offer term lengths of 10, 15, 20, and 30 years.

Webster Bank Adjustable Rate Loans

Adjustable-rate mortgages (ARMs) have monthly payments that can change throughout the term of the loan. ARMs begin with a fixed-rate period, during which payments are low and consistent for a set number of years. Once this initial term is over, rates can rise and fall depending on market trends. ARMs have a maximum limit to keep costs manageable for borrowers and are suitable for those who plan on selling or refinancing their home in a few years.

Webster Bank Jumbo Loans

Webster offers jumbo mortgages to buyers who need a fixed- or adjustable rate loans that exceed the typical limits set by Fannie Mae and Freddie Mac. Currently, the mortgage and refinancing limit is $453,100, according to Ellie Mae.

Webster Bank Construction Loans

Webster offers buyers the necessary funding to build their dream home or extensively renovate a refinanced one. They provide fixed, adjustable, and jumbo construction loans and customization options that allow borrowers to change this type of loan into a permanent one upon construction.

Webster Bank Government-Assisted Loans

These solutions offer flexible financing solutions to buyers who need low down payments and low monthly costs:

• • Federal Housing Authority (FHA) Mortgages: These loans assist homebuyers who cannot afford to put 20 percent down on their home. Webster Bank offers affordable rates and full coverage on fixed-rate options.
  • Veterans Administration (VA) Mortgages: The Department of Veterans Affairs assists veterans, military spouses, and current service members in finding loans with low down payments. VA loan borrowers typically don’t need to invest in mortgage insurance.
  • Connecticut Housing Financing Authority (CHFA) Mortgages: Webster Bank offers these types of Connecticut-specific home loans to first-time buyers and individuals who haven’t owned a home in the past three years. The price of the home must be within the CHFA Sales Price Limits for the town and the borrower must meet the CHFA’s gross income requirements. CHFA mortgages offer low-interest rates, down payment assistance programs, and rate reductions for police, teachers, veterans, military members, and buyers with disabilities.

Webster Bank Mortgage Customer Experience

Webster Bank provides customers with a variety of online educational tools that simplify the mortgage process. They offer clear descriptions of their home loan offerings, as well as interest rate estimates based on each mortgage option.

Webster allows first-time homebuyers or those interested in a line of credit to view rates on their website; for all other financial products, the bank connects homebuyers to agents. Prospective borrowers can request a specific type of loan and tell Webster when they would like to be contacted or they can call the lender directly at 877-647-5137 to obtain an instant quote.

Webster requires borrowers to provide different types of documentation when applying for a home loan. With that in mind, make sure you have the following available when speaking to an agent:

• Identification, such as a passport, license, voter ID, Social Security number, tax identification number, or birth certificate
• Information related to income, via pay stubs or Social Security income records
• Proof of homeowners insurance
• Credit score
• W-2 forms for the past two years

Webster Bank is not currently accredited by the Better Business Bureau (BBB). However, the lender’s location in Southington, Connecticut only has 42 customer complaints.

Webster Bank Lender Reputation

Webster Bank was founded in 1935. Currently based in Waterbury, Connecticut, the bank has 177 branches and 316 ATMs. Webster Bank is not currently accredited by BBB or Trust Pilot.

*Information collected on Nov. 13, 2018

Webster Bank Mortgage Qualifications

When applying for a mortgage through Webster Bank, borrowers typically need to meet the requirements associated with standard home loans. The lender prefers its borrowers to put 20 percent down on the home but allows borrowers to make lower down payments if they qualify for government-assisted loans.

Like most banks, Webster offers the best mortgage rates to individuals with high credit scores. Prospective borrowers with a “good” credit score or higher shouldn’t have trouble securing a mortgage through Webster Bank. It’s still possible to get a mortgage with bad credit or no credit history, but it won’t be as easy. Here are the typical credit score ranges in the U.S.:

Credit Score	Quality	Ease of Approval
760+	Excellent	Easy
700-759	Good	Somewhat easy
621-699	Fair	Moderate
620 and below	Poor	Somewhat difficult
No credit score	n/a	Difficult

Webster Bank Phone Number & Additional Details

Homepage URL: http://bit.ly/1Z11bAb
Company Phone: 800-325-2424
Headquarters Address: Webster Bank, 145 Bank St. Waterbury, CT 06702

States Serviced: Connecticut, Massachusetts, New York, and Rhode Island

If Webster Bank doesn’t fit your needs, there are plenty of other options. Some of the other lenders, like Rocket Mortgage, are popular across the country. 

The post Webster Bank Mortgage Rates Review appeared first on Good Financial Cents®.

Source Good Financial Cents® http://bit.ly/2Y15MnX

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Best Mortgage Rates in Massachusetts

The online real estate database Zillow rates the current housing market in Massachusetts as “healthy,” with the state scoring 5.7 out of a possible 10 points on the company’s Market Health Index. The median listing price in Massachusetts stands at $439,900, while the Zillow home value index is $401,500.

Those figures are significantly higher than the national median listing price of $275,000 and a home value index of $220,100. Those numbers also represent a roughly 21 percent increase in Massachusetts home values over the last three years, and Zillow estimates that the state’s average home value will rise another 9.1 percent over the course of the next year.

Mortgage Rates in Massachusetts

While national interest rates significantly impact mortgage rates and refinancing rates, local economic factors such as state laws and competition among lenders also have an effect. For example, the cost of doing business drives up the cost of a mortgage, and in 2015, Massachusetts was listed among the top ten states with the highest cost of doing business.

There are also myriad other factors that go into determining a borrower’s mortgage and refinancing rates. We will explore these components further in-depth while offering concrete advice on how to secure the best mortgage rates in Massachusetts.

Critical Elements That Affect Mortgage Rate & Refinancing Rates in Massachusetts

There are multiple variables at play when it comes to determining mortgage and refinancing rates in Massachusetts. Developing a solid understanding of these factors can help you save when financing a new home.

Credit score

One of the primary determinants of whether or not you qualify for a home mortgage loan and what rates you are eligible to receive is your credit score. Lenders view potential borrowers with high credit scores to be lower risk and therefore responsible enough to qualify for lower mortgage rates while considering those with lower scores to be less reliable and possibly ineligible for a loan.

Generally speaking, a FICO score above 661 is deemed to be good, while a rating over 720 is seen as excellent. While it is possible to get a mortgage with bad credit, many conventional loans require a minimum credit score of 620.

Down payment

With some rare exceptions, lenders typically require a down payment, which can sometimes be as low as 3 percent of the total home value. While low or no money down options may appeal to buyers with small savings accounts, a more substantial down payment means a lower interest rate and a smaller principal to pay off.

The traditional rule of thumb contends that putting down 20 percent or more is the best way to lower your rates significantly.

Loan term

Another relevant factor in determining mortgage rates is the loan term, or how many years the loan is meant to last. Shorter term loans typically require higher monthly payments, but also usually guarantee lower interest rates and overall costs, making them ideal for borrowers who want to pay off their home in a hurry.

Homebuyers looking to settle down and pay less per month may opt for a longer loan term.

Type of refinance

As mortgage rates go down, those who currently hold loans with higher rates may want to refinance to start paying less. According to Zillow, the most popular refinancing choice is the rate-and-term refinance, in which the original loan is paid off and replaced with a new loan and corresponding new rate and set of terms.

Those in need of cash prefer a cash-out refinance, which involves pulling out equity from your home, while those who have cash on hand may choose to lower their loan amount and monthly payment with a cash-in refinance.

Borrowers should explore all of their choices if considering refinancing, while also comparing various lenders to see which offer the most attractive terms.

How to Get the Best Mortgage & Refinancing Rates in Massachusetts

If you want to score the best mortgage rates and refinancing options in Massachusetts, it’s imperative that you shop around before deciding on a lender. Failing to properly research the market and compare and contrast the offers available can cost borrowers tens of thousands of dollars over the term of the mortgage. To make sure you don’t end up overpaying, follow these essential steps:

Research different mortgage and refinance types

There are many kinds of mortgages and refinance options, and it’s likely you are eligible for more than one. Read up on the advantages and disadvantages of each, paying close attention to how your rate would be affected by each selection.

Keep in mind, though, that the most prudent choice is not always the cheapest. Different types of borrowers have different needs and abilities, and it’s essential to find the loan type that conforms to your unique situation.

Reach out to multiple lenders

Nearly 80 percent of homebuyers surveyed by the Consumer Financial Protection Bureau said that they only applied to one lender when purchasing their home. Just as you would always compare deals on flights and hotel rooms before booking a vacation, it’s essential that you buck the national trend and get quotes from multiple lenders before committing to just one.

Take advantage of any lender that offers free online quotes, and get on the phone with a few loan officers from more traditional institutions. In addition to getting a better feel for your options, you may also be able to negotiate a better deal by mentioning other quotes you’ve received, as lenders sometimes offer to pay closing costs or eliminate certain fees if you accept their business.

Remember to calculate additional costs

Part of being a savvy shopper is going beyond the advertised rate and uncovering any hidden fees that should be factored into the overall cost. Before committing to any loan, be sure to ask the lender about any potential broker fees, prepayment penalties, closing costs or underwriting costs.

You should also be provided with a Good Faith Estimate after you have submitted your loan application, which is meant to give a rough picture of what you can expect to pay.

Recommended Companies in Massachusetts

Comparing and contrasting available mortgage rates in Massachusetts can be overwhelming, as the Bay State has quite a few lenders to choose from. Yet shopping around for the best rates is an essential part of the process when it comes to acquiring a home loan. Start your search by looking into some of the top mortgage lenders in Massachusetts:

J.G. Wentworth

Ranked #1 for Customer Satisfaction on LendingTree and given an A+ rating by the Better Business Bureau, J.G. Wentworth is one of the most reputable lenders in the state. Low mortgage rates and the promise of no points or hidden fees explains the company’s popularity, but the minimum credit score requirement of 620 means it’s not a viable option for everyone.

Rocket Mortgage

This relatively recent entrant to the lending market has proven revolutionary with its streamlined, online-only application process which can pre-approve a loan and lock your rate in as little as eight minutes.

New American Funding

Among our highest-ranked non-bank lenders is New American Funding, which has more leeway in approving loans due to its manual underwriting process.

Boasting a comprehensive set of loan options, multiple down payment assistance programs and a minimum credit score requirement of just 580, New American Funding distinguishes itself as one of the most flexible lenders in Massachusetts.

The post Best Mortgage Rates in Massachusetts appeared first on Good Financial Cents®.

Source Good Financial Cents® http://bit.ly/31KqQBu

Best Mortgage Rates in Michigan

The housing market in Michigan has been strong in almost all areas of the state. For example, the Holland Sentinel—citing data from the Michigan Regional Information Center and Michigan Realtors—simultaneously reported major demand and drops in inventory throughout the state’s western counties, particularly of lower-priced homes.

Mortgage Rates in Michigan 

This caused a major spike in prices. Elsewhere in the state, such as the greater Detroit metropolitan area, part of the market’s strength comes from new buyers taking advantage of a resurgent economy, according to The Detroit News, though it’s unclear if that pace is sustainable.

Michigan’s median home price is still notably low despite price increases, currently at about $147,000, which is fairly below the U.S. median of approximately $320,000, as well as the most common prices in the Midwest, where about 50 percent of homes sell for between $300,000 and $499,999, per data from the U.S. Census Bureau.

At the same time, increased home loan interest rates throughout the country, including Michigan, have played a role in the decrease of mortgage originations—according to Michigan Radio—with some parts of Michigan seeing loan origination decreases greater than 25 percent.

The state may thus become a buyer’s market in the not-too-distant future, even with the continued low inventory, but the clashing of these trends makes it difficult to definitively predict the future of the housing market in Michigan.

Prospective Michigan homebuyers must keep such locally-relevant concerns in mind in addition to the larger economic factors that affect interest rates in all regions.

5 Critical Elements That Affect Mortgage Rates and Refinance Rates in Michigan

The difference between diving headlong into the steps of the home buying or refinancing without taking the time for due diligence can be a margin of thousands (and in some cases millions) of dollars. When looking at a first-time purchase or refinance mortgage rates, Michigan buyers should expect the following major factors to affect the rates they receive:

Credit score

Numerous lenders, no matter where they’re located, will consider this the most important financial characteristic of a would-be borrower. Neither the FICO score, VantageScore, TransUnion model or any of their variants are fail-safe measurements of a borrower’s financial status.

For instance, someone with a well-paying, steady job might have one negative mark on their credit report from an irresponsibly accrued debt in the past, bringing down their score. That said, these measurements give lenders enough solid information to have become a standard tool in borrower evaluation.

Based on data from the Consumer Financial Protection Bureau, scores in those ranges would glean borrowers’ interest rates of about 5.7 percent.

Market value and closing costs

Purchasing a higher-priced home will require a higher loan amount, which will, in turn, lead to a higher interest rate, as the lender of such a large sum will want to protect its investment. Conversely, as the CFPB notes, a large initial down payment of more than 20 percent will by decreasing the amount borrowed and, thus, the lender’s risk.

The value of the home will come into play again during the mortgage refinance process, this time in the form of an appraisal to determine if the value of the home has risen, fallen, or remained about the same since the original mortgage was taken out.

Loan type and term

Fixed-rate mortgages will have higher interest rates attached to them than adjustable-rate mortgages, at least at first. The latter has a fixed rate for the first 3, 5, 7, or 10 years of its term, and then changes once each year based on a benchmark rate chosen by the lender (usually the London Interbank Offered Rate, or LIBOR).

As such the rate may be notably higher or lower based on the fluctuations of the lending institution’s standard rate of choice.

Meanwhile, loans with longer terms, either fixed-rate 30-year mortgages or longer-term adjustable-rate mortgages will almost always have higher percentages than fixed- or variable-percentage home loans with shorter terms, as a trade-off of sorts, given that the monthly payments will be lower.

Location

Some argue that this factor influences mortgage and refinancing rates as much as the loan amount and term, as it has a noteworthy effect on both of those financial metrics.

All aspects of location (the age and size of the neighborhood, the location of the home within that neighborhood, and its proximity to other houses, local businesses, reputable schools, emergency services, etc.) have a part to play in a home’s desirability.

As a result, they also play a role in the annual percentage rate offered to a borrower. For an area like the Detroit metro, its slow but steady revitalization over the past several years has been a pivotal contributor to the strength of its housing market.

Local home inventory

In housing markets where construction is robust, sales are similarly strong, and prices and interest rates generally even out, the market is amenable to both sellers and buyers.

When new homes aren’t being built at their ordinary rate in a given area and there’s still high demand to live there, sellers can drive up prices, thus requiring homebuyers to take out jumbo loans or mortgages with longer terms, both of which generally have higher interest rates than other mortgage types.

The Detroit News pointed out in 2017 that this very issue was significantly affecting the Michigan housing market, and had been impacting it to some extent for almost 10 years; as yet, there are few indications of this trend changing.

How to Get the Best Mortgage and Refinancing Rates in Michigan

There’s no better way to get the best price on any product, including mortgages, than researching as many different offers as possible. According to the CFPB, people don’t do this as often as they should with a mortgage and refinance rates, and house hunters in Michigan would do well not to repeat that mistake.

The internet is arguably a homebuyer’s most valuable research tool, but also take the time to get input from friends or family members who have recently closed on a home or have moved a lot, as well as financial advisors unaffiliated with any of the lenders you’re considering. 

Consider different loan types as well as different lenders, taking into account factors like how long you see yourself living in a particular house. Families settling down will likely be best served by longer-term mortgages like 15- or 30-year fixed-rate loans, while those who can see themselves moving after a few years may benefit from an adjustable-rate mortgage.

Meanwhile, those looking to refinance will find that mortgage rates vary from one state to another.

Recommended Mortgage Lenders in Michigan

J.G. Wentworth

This lender offers all major mortgage types at rates close to the U.S. average of 4.95 percent (and lower for those with credit scores of 700 or higher). Also, J.G. Wentworth provides refinancing options backed by the federal HARP program, and its loans include no fees.

Better Mortgage

Though fees are included, rates for a 30-year fixed-rate loan in Michigan through Better Mortgage are lower than the national average (at about 4.75 percent).

Rocket Mortgage

Rocket Mortgage allows potential homebuyers in Michigan to quickly get a personalized quote based on their borrowing criteria and lock it in for 90 days, offering simultaneous flexibility and stability while consumers peruse the market.

The post Best Mortgage Rates in Michigan appeared first on Good Financial Cents®.

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Why You Shouldn’t Worry About That Raise Putting You in a New Tax Bracket

If you work for a living, chances are you’ve heard at least a little bit about tax brackets, the progressive system the government uses to discern how much you owe Uncle Sam.

The system is deceptively simple: The higher your income, the higher the percentage of it you fork over to the government.

But as it turns out, this seemingly transparent structure is actually widely misunderstood.

And don’t worry — the news we’ve got is good news. Read on to learn everything you need to know about how tax brackets *actually* operate.

What Are the Federal Income Tax Brackets for 2019?

Let’s start from the top. What, exactly, is the tax bracket system, and what are the most up-to-date income ranges and percentages?

The tax bracket system is a progressive series of tax rates based on your taxable income. More specifically, it’s based on adjusted gross income, or AGI, which is your gross income minus your deductions.

The exact income ranges do vary based on your filing status — that is, whether you’re filing singly, jointly with a married partner, or as a head of household. You can find the full, updated set of tax brackets broken down by filing status here, but all of them fall into the same basic breakdown: seven brackets, ranging from 10% to 37%, depending on your income.

For single filers, here’s how the brackets break down.

Rate of Taxations	Taxable Income Over
10%	$0
12%	$9,700
22%	$39,475
24%	$84,200
32%	$160,725
35%	$204,100
37%	$510,300

The more you make, the higher your bracket, a system that’s meant to put more tax burden on the people who can afford to handle it. Of course, it can also make people feel punished for earning more dough.

But there’s an important caveat to understand before you throw in the towel and start slacking at work as hard as possible.

How Tax Brackets REALLY Work (Hint: It’s Not as Bad as You Think)

It’s true that if you make more income, you’ll probably end up paying more in taxes.

But here’s the twist: Each tax rate applies only to the income in that specific tax bracket. Which is to say, if your income increases and you “roll over” into a higher bracket, only the cash in that bracket will be taxed at that percentage — not the entire sum of your income.

Let’s use an example to clarify.

Say you’re a single filer who made $85,000 in 2019. Nice going — that’s a lot of cash!

But in the midst of popping Champagne bottles to celebrate your success, you have an oh no moment: that figure hikes you from the 22% tax bracket to the 24% tax bracket, and all over a measly $800. (The threshold is $84,200.)

Two percent might not seem like much, but all of a sudden you’re paying nearly a quarter of your income back to Uncle Sam in taxes?? Yikes.

But before you go downing that bubbly in a decidedly-less-excited manner, though, take heart. Because the entire $85,000 you made won’t be taxed at 24%: only that $800, which falls into the 24% bracket, will. The rest of your income will be taxed by the respective brackets it falls into. Here’s how it looks in numbers:

What DOESN’T Happen:

$85,000 x 0.24 = $20,400 tax bill

What DOES Happen:

$9,700 x 0.10 = $970

$29,775 x 0.12 = $3,573

$44,725 x 0.22 = $9,839.50

$800 x 0.24  = $192

Grand total = $14,544.50 tax bill. (I mean, still not great… but still a full $5,000 less than you thought you were going to pay!)

So if you’ve been operating under the idea that your tax bracket applies to your entire income, take heart — it’s not so bad after all! Earning more money is still a financially sound goal (uh-doy), even if you’re right on the cusp of a new bracket. Speaking of which… have you talked to your boss about that raise yet? Here’s how.

Jamie Cattanach’s work has been featured at Fodor’s, Yahoo, SELF, The Huffington Post, The Motley Fool and other outlets. Learn more at www.jamiecattanach.com.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

source The Penny Hoarder http://bit.ly/31JMUvM

Ladder Life Insurance Review

Life insurance coverage is a great way to protect your family financially in the event that you pass unexpectedly.

However, it can be difficult to find a good rate for life insurance if you have a high-value estate.

Ladder offers high-value term life insurance policies at better rates than other online insurance providers. Better yet, many policies can be underwritten in 20 minutes often without a medical exam.

What is Ladder Life Insurance?

Founded in 2017, Ladder is a life insurance provider that offers term life policies at competitive rates, especially if you are looking for policies with face values over $1 million.

Ladder promotes a streamlined experience with all policies bound and managed online without the use of an agent.

The rise of Insurtech has played a large role in how Ladder quotes, underwrites and manages policies.

Those comfortable managing financial decisions online will enjoy Ladder’s easy to use platform and quick underwriting decisions.

Unlike other online life insurance providers, Ladder often does not require a medical exam to receive a quote.

Instead, Ladder asks a series of questions to determine if you are in need of a medical exam based on age, health, and lifestyle.

Applicants typically receive a decision about their eligibility within 20 minutes, which can reduce the typical application time by days or weeks.

Ladder offers level term life insurance, which means that your premiums remain stable throughout the course of the policy.

The face value of their policies ranges from $100,000 to $8 million. This is significantly more coverage than you can typically purchase without a medical exam.

View Rates With Ladder

Can I Adjust My Coverage Limits with Ladder?

Many people’s financial circumstances change over the course of a life insurance policy.

Through other insurance providers, you must cancel your existing policy and purchase a new one in order to change your policy limits.

Ladder believes that you should be able to adjust your coverage at any time to meet your specific needs.

Through their Ladder Up and Ladder Down feature, Ladder gives you the freedom to adjust your policy limits as your financial needs change. This ensures that you are never paying for more coverage than you need.

The Ladder Up feature allows you to increase the face value of your policy or extend your term length. The added coverage will be priced separately, and your premium will change based on your new coverage limits.

Alternatively, the Ladder Down feature lets you reduce your policy amount if you would like less coverage in place. This will decrease your premium proportionately with the reduction in coverage.

How Do I Quote Through Ladder?

Quoting through Ladder is relatively straightforward and takes about 20 minutes. Here are some simple steps to obtaining your Ladder quote:

Select Your Coverage Limits and Term Length

First, you will select your coverage limits and term length.

Ladder’s coverage amounts range from $100,000 to $8 million.

Ladder offers terms of 10, 15, 20, 25, and 30 years.

Be Prepared To Answer Eligibility Questions

Next, Ladder will ask you a series of questions to determine your eligibility, including:

• Occupation
• Health History
• Family History
• Driving Record
• Lifestyle Choices

Any hazardous hobbies, such as smoking, also contribute to your eligibility for life insurance. Depending on your lifestyle, this process should take no more than a couple of minutes.

After you answer the qualifying questions, Ladder will return with a decision. Based on the information you provided, they will either return with a life insurance quote, a request for a medical exam, or a declination.

While unlikely, it is possible to be denied coverage based on health issues. Otherwise, you may need to take a medical exam.

If this is the case, Ladder will help you schedule the medical exam at your convenience. It can be performed at home or at work at no additional cost to you.

View Rates With Ladder

Who is the Ideal Ladder Applicant?

Ladder life insurance is only offered to applicants between the ages of 20 – 60.

You must be a lawful resident of the US that has lived here for at least 2 years.

Currently, it does not offer coverage to New York residents, but it is in the process of filing with New York.

Those wishing to purchase larger life insurance policies may benefit from Ladder’s competitive pricing and quick underwriting decisions.

Ladder’s rates can be higher for those wishing to purchase smaller life insurance policies. Given that Ladder often does not require a medical exam, it can be a great option for those with larger policy limit needs.

Should I Use Ladder to Purchase Life Insurance?

The decision to purchase life insurance is important to the financial security of your family.

There are several points to consider before committing to a life insurance company.

Below are some of the advantages and disadvantages of purchasing your life insurance through Ladder.

Pros of Ladder Life Insurance

• Quick underwriting decisions: Ladder controls the underwriting and risk analysis, which means they are able to return quickly with a decision. In as little as 5 minutes, Ladder is able to come to a conclusion regarding your life insurance eligibility. This can save enormous amounts of time in what is normally a long, slow process.
• Ability to increase or decrease coverage limits: The process to adjust your policy limits through other life insurance providers is exhausting, often involving canceling your current policy and purchasing a new policy altogether. The Ladder Up and Ladder Down features make it easy to adjust your coverage to include everything you need.
• Excellent customer service: Ladder efficiently handles customer concerns through their online portal. There are representatives available to chat online or assist over the phone if you have questions about your policy or the process. All representatives are salaried, not commissioned. This means their focus is to help you rather than sell to you.
• Financial security: Financial security is important when considering a life insurance company. An insurance company with poor financial security can take decades to pay a claim. Ladder underwrites its policies through Fidelity Security Life Insurance Company. Fidelity has an excellent rating (A-) with A.M. Best, a respected insurance rating agency. This rating indicates that Fidelity is capable of paying any claims made by policyholders. This should ease any worries about Ladder’s legitimacy as a life insurer.

Cons of Ladder Life Insurance

• Not available in New York: At this time, Ladder can offer life insurance to applicants in every state except New York. They are currently in the process of filing with New York.
  Lack of educational resources: A common complaint among Ladder users is that there is a lack of educational resources available. If you would like to learn more about term life insurance or how much coverage you need, you will need to do additional research outside of Ladder.
• No riders or supplementary coverages: Most insurers allow you to customize your life insurance coverage through the purchase of riders. For instance, if you wanted protection against accidental death, a rider would provide this coverage in addition to circumstances underwritten in the policy. Ladder does not allow for the purchase of supplementary coverages or riders, which can limit your coverage.

Bottom Line

While Ladder does not have the lowest prices available, their rates are consistently better than that of top insurers.

Applicants can also qualify for more coverage than they typically would with a no-exam policy.

Ladder offers competitive prices for high-value life insurance policies, but it is important to compare rates before making a final decision.

If you have questions, please consult with your insurance agent or financial advisor to ensure that you make the best decision regarding your coverage.

The post Ladder Life Insurance Review appeared first on Good Financial Cents®.

Source Good Financial Cents® http://bit.ly/2Zvq2hI

Best Mortgage Rates in Florida

According to Zillow, the housing market in Florida is currently considered “very healthy.” The median listing price in Florida is $289,900, while the Zillow home value index is $227,800.

This is slightly higher than the national median listing price of $275,000 and a home value index of $220,100.

There has not been much significant change on a month-to-month basis, but the increase over the last few years is somewhat surprising. In January of 2012, the median listing price in the U.S. was only $180,000, while in Florida it was $179,000; there has been an increase of approximately $100,000 in just short of seven years.

If you are looking to purchase a house in Florida, you should be aware that purchase and refinance rates are impacted by interest rates on a national scale. However, local economics directly influence rates as well. Some of these factors include Florida state laws, average home value, foreclosure rates, and competition among lenders.

In addition to these factors, there are several pieces of information that determine mortgage and refinance rates on a personal level. In this article, we’ll go over some of these elements and offer advice regarding how to get the best mortgage rates in Florida.

Elements Affect Mortgage Rates & Refinance Rates in Florida

There are plenty of factors that influence mortgage and refinance rates in Florida. Understanding these elements can be the difference between saving and spending thousands of dollars every year.

Credit Score

This is one of the major factors that determine if you can qualify for a home mortgage loan and the kinds of rates you can expect. Prospective buyers with higher credit scores are considered to be low risk, which makes them more likely to receive lower mortgage rates.

The lower your credit score, the less likely you will be to qualify for a loan. This is also the primary factor that determines your refinance rates. It is possible to get a mortgage with, but a lower score makes it substantially more difficult to get a loan.

Down Payment

When looking to qualifying for a mortgage, you should understand how your down payment affects your rates. Generally, a larger down payment leads to a lower interest rate, since buyers with more stake in the property are considered low risk. If you are able to put down 20 percent or more, you may notice significantly lower rates than if you put less than 20 percent down.

Loan Term

The duration of your loan is a significant factor that lenders use when deciding their mortgage rates. Loans with shorter terms typically have lower interest rates and overall costs but may have higher monthly payments. Homebuyers with a comfortable cash reserve may want to take on a short-term loan, while buyers with fewer savings may benefit from paying less over a longer period of time.

Type of Refinance

Just as a conventional mortgage, the refinance loan you opt for will determine your rate. If you are considering a rate-and-term refinance, which Zillow reports as the most, you will be offered different rates than you would if you were shopping for a cash-out or cash-in refinance loan.

When applying for refinancing, explore different options to determine which loan type offers rates that make the most sense for your finances.

It doesn’t only benefit borrowers to understand these elements. To find low rates on mortgage loans and refinance options, comparing offers from different lenders is a must.

How to Get the Best Mortgage & Refinancing Rates in Florida

To get the best mortgage rates and refinance options in the state of Florida, you have to shop around. Too many Americans fail to shop around for mortgage rates with multiple lenders, yet doing so can save them tens of thousands of dollars over the term of their mortgage. If you are interested in shopping around for rates but don’t know where to start, you might consider the following steps:

1. Consider different mortgage and refinance types: There is a lot of value in considering different types of mortgage and refinance options. Your rate can change as a result of the loan type and term you opt for. The best type of purchase or refinance loan may not necessarily be the cheapest or the same for every borrower. While some may benefit from a fixed-rate mortgage, others might fare better with a jumbo loan. Make sure you do your research on the various types of mortgage options and know exactly what you’re paying for before making a decision.
2. Contact multiple lenders: Getting the best rates on your purchase or refinance loan might require you to get on the phone with a few loan officers and do your own research. If you only receive rates from one or two lenders, you may be missing out on more affordable options. When speaking to different agents, you may also want to inquire about any perks lenders might be willing to offer you to help you close the deal. Some lenders may be willing to roll closing costs into your monthly loan repayments or eliminate some underwriting fees.
3. Factor in additional costs: Just because you see a low rate advertised does not mean it’s the cheapest option for you. Once the fees are added in, this rate might be significantly higher than other loans you’ve considered. To make sure you aren’t surprised when presented with the final numbers, ask the lender about potential underwriting costs, broker fees, prepayment penalties, and closing costs. They should also provide you with a Loan Estimate Form and Closing Disclosure form within a few days of submitting your loan application, which provide an approximation of the costs associated with your purchase or refinances loan.

Recommended Mortgage Companies in Florida

There are plenty of lenders that offer mortgages in Florida. When you take out a home loan, make sure you shop around and compare quotes from different lenders to ensure you’re getting the best deal possible.

Some of the top mortgage lenders in Florida include:

Quicken Loans

This lender is our #1 choice because of its 90-Day RateShield Approval benefit. This feature protects you if home mortgage rates go up within 90 days.

View Rates

Lending Tree

Lending Tree offers a convenient perk that many other lenders do not: immediate quotes online. You won’t need to dial a number or wait on hold to get the information you’re looking for.

View Rates

J.G. Wentworth

With an A+ rating with the Better Business Bureau, J.G. Wentworth is a desirable option. However, they typically only offer mortgages to buyers with a credit score of 620 or higher.

NBCK Bank

This bank offers many different types of mortgages, including VA and FHA loans, in all 50 states. They have origination, processing, underwriting, closing, and funding services on site, making them an all-in-one lender.

NASB

This BBB-accredited lender offers an online financial resource center that can help you understand the latest market trends and provide personal financing advice.

CrossCountry

They pride themselves on their excellent customer service and a wide selection of options for homebuyers. CrossCountry also offers a variety of refinance programs.

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Best Current Mortgage Rates in Illinois

Illinois’s state-level economic concerns, increasingly expensive real estate prices in and around Chicago, its mix of dense urban and large rural areas, and the state’s position as a major economy in the region may also impact real estate prices.

An understanding of local and national economic and regulatory factors can help prospective homeowners understand the overall market. To learn more about how to find competitive mortgage rates in Illinois and make the best possible choice for your needs, read on.

Elements That Affect Mortgage Rate & Refinance Rates in IL

Illinois, like many other states, has seen a significant increase in home prices over the past several years. Real estate data provider Zillow noted a low median home price of $134,000 in the state in February 2012. That number rose to $179,000 in November 2018.

While still lower than the national median value of $320,000 shared by the U.S. Census Bureau, rising prices make it that much more crucial to find competitive mortgage rates.

Zillow predicted steady growth of home prices through the end of 2019, exceeding $190,000 by the end of the year.

That increase will likely come from a combination of national economic factors, such as interest rates and economic performance, and state-level economic considerations, such as lender competition and potential regulatory changes.

Understanding current mortgage rates in Illinois can help you make the most informed and financially responsible decision about which lender and loan type is best suited to your needs.

Rates, terms, and other conditions can change greatly from one lender to the next, and there are similar differences between the options offered by individual providers.

The more you know about mortgage rates in Illinois, as well as the personal factors that influence critical elements such as interest rates and down payments, the more confident you can be in your decision.

The end result can mean saving thousands of dollars over the life of the mortgage through reduced interest rates and other advantages. When it comes to home loans, the time invested in research can definitely pay off.

Loan Type

There are many types of home loans available in Illinois and throughout the country. Even a traditional mortgage includes a variety of options that have a substantial impact on interest rates and the overall mortgage costs, from the length of the loan term to the choice of a fixed or adjustable rate. There are also a number of more specialized offerings backed by various government agencies. These loans, such as the ones offered by the Department of Veterans Affairs and the Federal Housing Administration, require some special qualifications. That’s because they frequently offer lower interest rates and down payment options, among other benefits.

Type of Refinance

Refinancing a mortgage allows homeowners to take advantage of changes in the economy and their own personal financial situation. The specific type of refinancing chosen has a major impact on the long-term outcome of the original loan. A cash-in refinance can help homeowners obtain lower payments and an improved loan-to-value ratio at the cost of a higher cash investment.

A cash-out refinance, on the other hand, increases the cost of the loan in exchange for converting accumulated equity into cash. A rate and term refinance provides access to improved terms and conditions, reducing the overall cost of the mortgage. Short refinances and the Home Affordable Refinance Program, offered for loans already guaranteed by Fannie Mae and Freddie Mac, allow for refinancing to avoid foreclosure and negative equity.

Length of Refinancing Term

The length of a loan’s term influences foundational elements like the interest rate and total cost of a mortgage or refinance loan. With a 15-year term, monthly payments are higher and must be budgeted for accordingly. However, homeowners can save thousands of dollars, in the long run, thanks to the lower interest rates that come with shorter terms. On the flip side, a 30-year term offers a lower monthly financial obligation and can be more manageable for budgeting purposes. However, as the Federal Reserve points out, the total cost of the loan can be significantly more with a longer loan term. Finding the balance that works best for you is critical when considering a mortgage refinance.

Credit Score

Your credit score is among the most important factors involved in securing a home loan. A higher score can open up options, improving a borrower’s chances of approval as well those of obtaining more favorable rates and terms. A high credit score frequently leads to a less-expensive mortgage, as lenders consider those with higher scores to pose less risk.

Credit scores are summarized in a three-digit format, although their calculation is a complicated process that varies between lenders. The Consumer Financial Protection Bureau offered an in-depth guide that can help you understand more about the details behind credit scores and calculations.

How to Get the Best Mortgage & Refinancing Rates in IL

Comparative shopping is an absolute must to find the best mortgage rates in Illinois. Only when you take the time to look at the rates, terms, and conditions offered by several lenders can you get a clear picture of the choices you have available.

Without understanding what different lenders bring to the table, it’s unfortunately easy to miss out on a great interest rate or terms and end up paying significantly more in the long run. Despite the power of comparative shopping, nearly half of all prospective American homebuyers don’t shop around, the CFPB reports.

To make comparative shopping simple and effective, commit to requesting several quotes, set aside time to compare the specifics and only make a decision once the right option presents itself. Focus your search on the type of mortgage that makes the most sense for your needs.

Request online quotes to make the process faster, but don’t avoid lenders that require a phone call; they may just offer the best rate and terms for your needs.

As you move closer to finishing the process and receiving your loan amount, pay special attention to the fees involved in processing the loan. Certain charges from local government agencies, such as the recording fee, often aren’t negotiable.

But you can negotiate many others, including the loan origination and document preparation fees, as well as the title search and insurance costs.

Recommended Mortgage Companies in Illinois

The Prairie State has a wide range of lenders to choose from. Some top options include:

Quicken Loans

Quicken Loans acts as a marketplace for individuals to connect with local lenders. Offering a wide variety of options—from traditional home loans to government-backed mortgages and many others—and a convenient online application process, Quicken Loans helps consumers comparison shop for home loans with ease with their mortgage side of the business, Rocket Mortgage. The Illinois branch of Quicken Loans has an A+ rating with the Better Business Bureau.

View Rates

LendingTree

LendingTree also serves as an online marketplace for prospective homeowners and a variety of lenders. The company will match users with up to five potential mortgage providers, making the comparison process easy and straightforward. LendingTree enjoys a 9.8/10 rating in our evaluation of its operations.

View Rates

Ally Bank

Ally Bank operates entirely online. As long as you don’t mind not having the option of visiting a physical office, this bank can be an excellent option for those seeking mortgage options. Ally’s loans often feature competitive rates for qualified customers, including interest rates below 5 percent for 30-year fixed-rate mortgages. The application and loan disbursement processes with Ally Bank are quick, intuitive, and easy to complete.

Better Mortgage

This lender offers a completely online service that emphasizes transparency and no hidden fees or commissions. Homeowners using Better Mortgage can obtain quotes in as little as three minutes and verified pre-approval within 24 hours.

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Associated Bank Mortgage Rates Review

Associated Bank is a bank offering lending and other banking and personal finance services in the Midwest, particularly in Minnesota, Wisconsin, and Illinois.

The bank headquarters are located in Green Bay, Wisconsin, and the oldest branch that became a part of Associated Bank was founded in 1861 in Neenah, Wisconsin. It has a grade of A+ from the Better Business Bureau.

Associated Bank Quick Facts

• Ranks among the most popular mortgage and refinance lenders in Wisconsin
• Offers a variety of conventional and non-conforming loans
• Provides insurance and investment options, in addition to personal banking products
• Was recognized by the J.D. Power 2017 Certified Contact Center Program
• The online application makes starting the borrowing process simple for consumers
• Works with the VA, USDA, and FHA to offer government-backed mortgage products

Associated Bank is a bank offering lending and other banking and personal finance services in the Midwest, particularly in Minnesota, Wisconsin, and Illinois.

The bank headquarters are located in Green Bay, Wisconsin, and the oldest branch that became a part of Associated Bank was founded in 1861 in Neenah, Wisconsin. It has a grade of A+ from the Better Business Bureau.

Background of Associated Bank

Associated Bank was formed in 1970 through an alliance of three Wisconsin-based banks and is headquartered in Green Bay, Wisconsin, with branches in Illinois and Minnesota.

This bank is not listed in the top 10 lenders in the U.S. mortgage industry, nor is it among the top originators on the Consumer Finance Protection Bureau’s list. It’s among the leading lenders in the Midwest, particularly Wisconsin.

The loan options available through Associated Bank are varied and appeal to a host of borrower needs. The bank offers conforming loans as well as jumbo mortgages and government-sponsored programs.

Associated Bank has a good reputation, with an A+ rating from the BBB and no history of actions against the company by the Consumer Finance Protection Bureau.

The bank has fairly strict mortgage qualification requirements. It typically won’t work with consumers who have credit scores below 620 and requires a minimum 5 percent down payment from homebuyers who aren’t first-timers.

Consumers who have generally good credit and are looking for a standard mortgage will likely have a positive experience working with Associated Bank.

Associated Bank Loan Specifics

Associated Bank provides numerous loan types to accommodate buyers with varying needs. Conventional mortgages, for example, can feature fixed or adjustable rates, making them ideal for many homebuyers.

Some, on the other hand, will be eligible for government-backed loan programs such as FHA, VA, or USDA loans, which feature lower down payment requirements. Associated Bank also offers jumbo mortgages for those who have their eyes set on a higher-priced home.

Fixed Rate Loans

Fixed-rate mortgages are available in flexible loan terms. Customers who opt for these types of loans also have access to preferred rates and discounts on checking accounts, certificates of deposit, and other Associated Bank products.

Fixed-rate mortgages provide long-term predictability, so this option might be best for homebuyers who plan to stay in their home for many years or those who prefer to stick to a predictable budget.

Adjustable Rate Loans

Adjustable-rate mortgages have rate protection for up to 10 years. Consumers who choose this option will likely see low upfront rates. This is well-suited for people who plan to sell their home in a few years or who expect to increase their income in the 5-10 years after the home purchase.

Jumbo Loans

Nonconforming or jumbo loans offered through Associated Bank allow buyers to take out loan amounts beyond the maximum borrowing limits set by governmental entities Freddie Mac and Fannie Mae. In most counties, that limit is $453,100 and will be raised to $484,350 in 2019.

Associated Bank offers jumbo loans with both fixed and variable rates and the chance to combine a jumbo mortgage with a second mortgage to help consumers control costs.

FHA Loans

FHA loans are insured by the Federal Housing Administration and offer low-cost mortgage insurance and flexible credit requirements. Unlike typical conforming loans, FHA loans have lower down payment requirements and often include closing costs and fees.

VA Loans

VA mortgages don’t require a down payment or mortgage insurance and allow buyers to finance 100 percent of their home. Rates and fees are generally lower for VA loans, and credit requirements are usually more flexible. These loans can also help borrowers unable to cover closing costs.

VA loans are provided through the Department of Veterans Affairs, which works with qualified lenders such as Associated Bank.

Refinance Loans

Refinancing a mortgage gives consumers access to their home equity in the form of cash and can potentially lower interest rates. Those who have adjustable-rate mortgages, for example, can refinance to a fixed-rate loan and benefit from fixed monthly payments. Another option is to refinance to a shorter loan term, which can help build equity faster.

Rural Housing Loans

The U.S. Department of Agriculture offers rural housing loans through the Guaranteed Rural Housing program. Consumers who meet the income requirements and are purchasing a home in a rural area, as defined by the USDA, are eligible for these loans.

Consumers can finance up to 100 percent of the home. Some closing costs may be included in the loan as well.

Associated Bank Mortgage Customer Experience

Customers can apply for an Associated Bank mortgage online. The bank notes that the application will take about 15-20 minutes to fill out, though users can also save the application to finish later. After the application is submitted, a mortgage professional will reach out to the applicant by phone within the next business day.

The application page offers checklists of necessary items to apply for a purchase or refinances loan, a second mortgage, or a VA mortgage. Associated Bank has a first-time homebuyer guide on its site to help people understand the mortgage process.

Customers can check up-to-date mortgage rates in the Daily Rate Sheet, though there doesn’t appear to be a way for users to sign up for email alerts for rate changes.

The bank’s resource center provides articles about mortgages, home buying, and other personal finance topics. There’s a long list of personal finance calculators and tools in the resource center, with 21 of the 47 listed pertaining to home financing.

Though the bank has received generally positive scores from the Better Business Bureau and Bankrate, some consumers have expressed issues with Associated Bank, particularly due to their strict credit requirements.

Associated Bank Lender Reputation

Associated Bank is a bank active in the Midwestern states. It was founded in 1970 with the alliance of Kellogg Citizens Bank of Green Bay, Manitowoc Savings Bank, and First National Bank of Neenah. First National Bank was the oldest of the three, dating back to 1861.

Associated Bank’s contact centers were certified by the J.D. Power Certified Contact Center Program in 2016 and 2017, highlighting excellence in customer service.

To achieve this distinction, an institution must rank in the top 20 percent of customer service scores, and its representatives must have detailed knowledge about the services customers ask about and be able to resolve issues promptly.

Associated Bank has an A+ from the Better Business Bureau and has been accredited since 1945. There are 53 customer complaints against the company on the BBB website, 22 of which were posted in 2018.

• Information Collected on Dec. 10, 2018.

Associated Bank Mortgage Qualifications

Associated Bank accepts gifted funds for homebuyers’ down payments. The gift money can total up to 100 percent of the down payment if the buyer wishes. They will also work with down payment assistance programs.

The minimum down payment required for first-time homebuyers is 3 percent, while FHA borrowers must put down 3.5 percent. Non-first-time homebuyers need to put 5 percent down.

The bank also requires borrowers to have a debt-to-income ratio of no more than 50 percent.

Associated Bank checks the credit scores of each loan applicant on Experian, Equifax, and Transunion. Two of the three must be 620 or above; if this isn’t the case, the applicant will most likely be turned away. That said, it is possible in some cases for applicants who have non-traditional credit histories to be considered for a loan.

Credit score	Ranking	Difficulty to get an Associated Bank mortgage
800-850	Exceptional	Easy
740-799	Very good	Easy
670-739	Good	Fairly easy
580-669	Fair	Difficult
300-579	Very poor	Very difficult

Associated Bank Phone Number & Additional Details

• Homepage URL: http://bit.ly/1oypykA
• Company Phone: 800-236-8866; Mortgages: 800-236-3617
• Headquarters Address: 200 North Adams Street, Green Bay, WI 54305
• States serviced: Services in the greater Midwest, particularly in Minnesota, Wisconsin, and Illinois.

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How to Get Better at Anticipating Your Financial Needs

One of the most valuable tools for keeping your financial life as stable as possible is to improve your ability to anticipate your future expenses and financial needs. This enables you to take some steps to prepare now for those expenses and thus reduce their impact in the future.

For people who aren’t naturally familiar with planning ahead, this can feel like a major shift in thinking. Many people simply buy groceries as needed by visiting the grocery store and wandering through the aisles to grab items needed for their next few days worth of meals. Many people respond with chagrin when they find an unexpected bill in the mail.

When you live your financial life solely in the moment, you cost yourself a great deal of money. Often, you find yourself with inflated regular expenses like the higher cost of unplanned grocery shopping. You’ll also regularly find yourself “surprised” by fairly predictable financial events, and that can frequently cause people to go into a bit of credit card debt just to get through it.

A much, much better approach is to learn to become better at anticipating financial needs. There are expenses in your life that you know are coming, so if you take at least some action now regarding that expense, you’re going to be able to handle it easier when it comes due.

While this is far from a be-all-end-all list of everything you would need to do to become perfect at anticipating your upcoming financial needs, here are seven things you can do that are quite useful in terms of making upcoming expenses clear to you and preparing yourself for meeting those needs.

Buy Groceries As Though You Won’t Enter a Store Again for the Next Week

It’s easy to go to the grocery store and get items for one or two meals. You just wander through the aisles, picking the items you need for those couple of meals, and you’ll probably grab a few incidental goodies on the way.

The first problem with this approach is that it takes quite a bit more time than necessary. The time spent wandering the aisles as you think about what you need is time that could be spent elsewhere.

The second problem with this approach is that it doesn’t take advantage of what’s on sale. Sure, you might happen to notice a sale and use it in those meals, but you’ll often miss sales entirely or have no idea what to really do with a sale item.

The third problem – and this is the big one – is that it doesn’t take into account what you already have at home in your pantry. You may already have most of what you need for a good meal or two sitting in your cupboards or refrigerator or freezer, but you didn’t even take them into account.

A much better approach – one that anticipates your future needs – is to start off your grocery shopping at home by making a meal plan for the upcoming week. Go online and grab your grocery store’s sale flyer, then build a meal plan that’s based upon what you have on hand and things that are on sale in the flyer. The more you can leverage those things, the lower your grocery bill will be. Try to make a long meal plan, at least a week in advance. Then, make a list of just the things that you don’t have yet that are needed from that meal plan. It’s likely going to naturally include a bunch of on-sale items. Eat a bit (so you’re not grocery shopping while hungry), then take that list, head to the store, and stick to it as you shop.

By anticipating the fact that you will need meals more than a few days in advance and also anticipating that the store will have sales, you can really leverage the value of those sales. By also anticipating that you’ll probably be tempted in the grocery store, writing a list gives you something else to focus on besides those temptations and eating before you go keeps your belly full so foods are less tempting. By anticipating your upcoming schedule and making a meal plan that lasts until the next day when you have time for a grocery trip, you’re saving yourself time during busy moments by taking care of the food-buying task during less busy moments.

Keep a Running Grocery List Near Your Pantry

Keep a whiteboard or a piece of scratch paper posted near your pantry. Whenever you happen to notice something running low in the pantry, add it to the whiteboard. Don’t wait until the item is actually completely out to add it to the board – add it when it’s merely starting to run low.

Then, when you’re getting ready to go to the grocery store, copy down the items on your pantry whiteboard and add them to your grocery list.

This strategy anticipates the fact that you’ll soon grow to assume that you always have certain staple foods on hand (if you don’t already), and keeping a running grocery list like this ensures that you’ll always have those staples so you don’t need to run to the store again to pick up flour or cumin or whatever it is you might need, which amounts to a waste of gas and time and likely extra expenses as you impulsively buy things at the grocery store.

Make a “Target Sale” List on Your Phone and Review It Regularly

Make a list of all of the nonperishable household and food items you use consistently and have to buy more of consistently and keep a general list of those items on your phone. These items should always be added to your grocery list if they happen to be on sale that week. You can actually use this list to cross-check the grocery store flyer while you’re making your grocery list.

For example, some of the items on our “target sale” list include trash bags, toilet paper, hand soap, dish soap, shampoo, conditioner, toothpaste, soap, dry rice, dry beans in a few varieties, basil, flour, sugar, and so on. If we ever happen to notice these items on sale at a price that’s lower than our normal “bulk version of the store brand” price, we stock up. Occasionally the store brand is on sale and that’s time to fill the cart and fill the cupboard.

The reason? We know we’re going to use this stuff. We know we’re going to use toiletries. We know we’re going to use a lot of dry food staples. These things will simply get used around our house, so why not buy them at the lowest price we can find.

Again, this is about anticipating future financial needs, but more in the long term. I know I’m going to need soap. I know I’m going to have to cough up money for that soap. If soap happens to be incredibly cheap right now, I might as well buy that soap for my future self and save some money. So, I load my cart up with soap. Repeat this for everything on that “target sale” list.

Whenever You Pay an Irregular or Infrequent Bill, Add Future Alerts Regarding It

Let’s say, for example, that you pay a property tax bill every six months. Rather than being “shocked” when a property tax statement comes in the mail, stick a reminder in your phone to pop up once a month to remind you that property taxes are coming and you should put aside a portion of that property tax bill now so that it’s not overwhelming when it arrives.

There are many irregular or infrequent bills that people have in their lives that can be handled this way. Property taxes are obviously one. Income taxes are annual bills for most people and quarterly for some. Insurance definitely falls into this category. Vehicle registration falls into this group, too. All of these bills can be unexpected and unpleasant surprises for people who didn’t plan ahead for them.

While this strategy of setting up alerts for such bills doesn’t completely solve the problem, it is a simple step that most people can take that will put them in a position to be more in control of their irregular bills. A much better second step is to automate weekly or monthly savings for those big irregular bills.

Regularly Examine the Condition of Your Car, Home, and Major Appliances

There are few surprises less pleasant than having an appliance fail on you when you need it or have your car break down on you when you need to get to work or have a major home issue strike out of the blue. Those things tend to be incredibly expensive, not just in the repair cost but in the expenses incurred while dealing with it.

Of course, most of these disastrous situations could have been easily avoided if you had happened to notice a much smaller problem earlier. If you noticed that your air conditioning was running a little loud, you might have had a minor repair rather than a major issue, saving you a lot of money and avoiding a few hot nights. If you noticed that your car’s back tire was a little flat, you might have been able to inflate it and get it patched for $15 or $20 instead of having it blow out and cost hundreds and delay your trip. If you had noticed that a few roof shingles were missing, you could have had your roof fixed instead of having major leaks during a storm damaging the inside of your house.

The common thread through all of these stories is the value of examining your house, your cars, and your major appliances for issues on a regular basis. Is there anything noticeably wrong with them? Do they sound different? Does something look different or out of place? Is there any slight issue with the operation? Is there any maintenance or cleaning that should be done?

Noticing those issues early can save you a ton of money and likely avert a crisis that will affect other aspects of your life.

Just set a regular schedule on your calendar to examine your various appliances and cars and different parts of your home. Put an event on your calendar to spend 15 minutes a month carefully looking over your car. Put in another event to spend 10 minutes examining your air conditioner every six months and your furnace every three months, replacing any filters at that time. These tasks aren’t intense and don’t take long, but they can help you identify minor problems when they’re easy to fix and well before they develop into major problems that are expensive, difficult to fix, and interrupt your life.

Not only that, get into the habit of giving things a quick look when you’re getting ready to use them. Glance at your tires when you’re going to the car. Listen to the sounds your car makes when you start it instead of just waiting until it sounds so bad that it grabs your attention. Look at your AC unit when you’re walking through the yard. Just be more aware of your expensive stuff that you rely on constantly.

Become More Honest with Yourself

What does this have to do with anticipating financial needs? The key here is in the word “needs.” The more honest you are with yourself, the more you begin to realize what things in your life truly are needs and which things are actually wants that, in the big scheme of things, really aren’t all that important.

This requires a lot of self-honesty, more than many people tend to apply to themselves in their daily life. We either try to avoid thinking about things like that or we convince ourselves that things we want are essentially needs and thus it’s fine to spend our hard-earned money on them, even if it means letting down actual needs further down the road.

Do you really need this new book at the bookstore right now? What about this new dress? Do you really need this food item? Do you really need to buy that new television next month?

So often, we work our desires into such a frenzied state that we feel like they’re needs, and it’s only through real honesty with ourselves that we recognize they aren’t. That requires reflection and honesty with yourself.

As I’ve mentioned before, one of the most powerful tools I’ve found for this is journaling – simply dumping my raw, unfiltered thoughts out on paper. It forces me to slow down and really think in a raw and unfiltered way about aspects of my life and almost forces me to be really honest with myself about those things. It’s most valuable when I’m honest and critical regarding myself and my own actions, not when I’m being “brutally honest” about others.

Sketch Out Your Life in Detail Over the Next Year (and Beyond)

Another valuable way to anticipate financial needs is to simply sketch out your life going forward in as much detail and with as much realism as you can. What do you anticipate happening or changing in your life over the next few months? Over the next year? Over the next five years?

Simply ponder that question regularly and, then, use those realizations to influence what you do with your money now so that you can make those future events as smooth and as positively impactful as you possibly can.

For example, maybe you’re pretty sure that you’re going to move next year and get a new job. You know this is coming. What can you do today to make that move and job change as smooth as possible? Maybe you can start polishing that resume. Maybe you can pick up a few skills that will help you find a job. Maybe you can start getting to know people in your field in that new area.

Sketching out your future in detail sets the stage for you to be more proactive about those future events.

What’s Next? Action from Anticipation

These strategies are good for helping you start to think in terms of anticipating your financial needs, but how do you start taking action regarding your future financial needs? Again, it really depends on what you observe, but here are some clear steps you can take to handle many situations.

Build an automated “future expenses” fund. If you know an expense is coming in the future, start saving for it now, but make it automatic. Get ahold of your bank or use online banking tools to automate regular small transfers from your checking into your savings account so that you’ll have the money built up when the expense comes due. This works for any irregular expense that’s at least somewhat predictable.

Spend money and time now to fix obvious upcoming problems while they’re small and inexpensive. If you’re looking for minor issues with your car or your appliances or your home and you identify something that could get worse quickly, get it fixed now. Don’t wait around on it. Do it now. Make it a huge priority.

Have some flexibility in your grocery budget so you can afford to stock up on items on sale that you know you’ll use, and then do so when you notice a nice sale. If you normally spend $500 a month on food and household supplies, budget $600 a month for it and use that flexibility to stock up on discounted items. Eventually, you’ll be able to trim that budget line quite a lot because you’ll be on a cycle of buying highly discounted stuff in bulk.

Add something to your to-do list today that will help make something coming in the next year or two easier. Take that vision of your life a year or two in the future and identify something practical you can do today to make that vision a reality. Add that to your to-do list and take care of it today.

Final Thoughts

Anticipating your future needs is a big part of becoming more financially strong and financially independent. As you begin to raise your eyes and look beyond the next few weeks of your life in terms of your money, it gets easier and easier to figure out very wise things to do with your money that will drastically reduce your overall spending in the coming years, enabling you to have more money with which to achieve the big goals you want in life.

It doesn’t come easily and it doesn’t come immediately, but it’s an invaluable change that will make your financial future much brighter than before.

Good luck!

The post How to Get Better at Anticipating Your Financial Needs appeared first on The Simple Dollar.

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