In the digital age, social media has — for better or worse — become an integral part of our lives, influencing how we perceive ourselves and others. For Gen Z Americans, accustomed to constant online connection, this influence extends beyond personal appearance and experiences. For their part, millennials are not only sharing photos and experiences but also comparing their achievements and possessions with their peers. Among the various markers of success, home value has long been a significant benchmark.
Fueled by the desire to keep up with others’ perceived achievements, home envy is reshaping the concept of the American Dream for these generations. The impact of social media on Gen Z’s and millennials’ perceptions of homeownership and the American Dream has some noteworthy implications — for both prospective homeowners as well as the lenders providing them with mortgages to realize that dream.
The rise of housing envy
As Gen Z members enter adulthood and the youngest millennials start to form families and settle into more traditional roles, many find themselves facing the pressure to achieve traditional markers of success, including owning a home. Platforms like Instagram, TikTok, and Facebook amplify the significance of this milestone via carefully curated posts showcasing beautifully furnished homes, inspiring interior design, and aspirational lifestyles. The seemingly constant exposure to these ‘picture-perfect’ homes can lead to feelings of inadequacy and envy, as young individuals measure their own living situations against those of their peers.
In fact, a recent study by Mphasis Digital Risk showed that 66% of young Americans routinely go online to check the value of homes belonging to friends and acquaintances. The survey of 1,386 people ranging in age of 46 years old or younger across the U.S. represented a broad spectrum of income levels, from lower- to upper-middle income. In addition, 79% of the respondents who looked up home values online said the activity left them feeling stressed, concerned or upset.
Benchmarking home value
From luxurious penthouses to cozy suburban homes, the wide spectrum of living arrangements can provoke a sense of inferiority or aspiration, depending on one’s perspective. Mphasis Digital Risk’s survey discovered that the primary reason respondents gave for checking home prices through online searches was to use the search “as a benchmark to measure their own income and worth,” (59%), while others are trying to get “a sense of their [friends’] income” (42%).
Over half (56%) say their own home-buying decisions are “very much” or “somewhat” affected by their searches online. This benchmarking mentality places immense pressure on both generations to achieve certain financial milestones and strive for home ownership, sometimes even before they are financially ready.
Additionally, the inability to reach the same level of home value as their peers can contribute to feelings of anxiety, depression, and a distorted perception of their own achievements, rather than personal fulfillment and growth.
Navigating the American Dream
The bright spot in all of this is that 74% of Gen Z and Millennials agree that owning a home is “part of the American Dream” and while 87% think it is currently too expensive to purchase a home right now – they indicated that if mortgage rates drop back into the 4-5% range they would be willing to jump in.
While homeownership remains a significant aspiration, it should not overshadow other essential elements of the American Dream, such as personal happiness, fulfillment, and financial stability. Both generations must resist the urge to succumb to external pressures and societal expectations, instead prioritizing their own values, long-term financial well-being, and individual journey towards success.
Embracing financial realism
Rather than becoming consumed by housing envy, Gen Z and millennials can benefit from adopting a realistic approach to homeownership. This includes understanding that lenders don’t benchmark borrowers against one another, and what an individual can afford is solely based on their financial situation.
The importance of financial preparedness, setting achievable goals, and focusing on sustainable long-term planning will enable a borrower to be a generational home owner. By prioritizing financial stability, investing in personal growth, and seeking out reliable advice, Millennials and Gen Zs can work towards their own version of the American Dream while maintaining a healthy perspective on the role of homeownership.
By understanding the psychological implications and redefining success beyond material possessions, these generations can regain control over their aspirations and work towards sustainable goals.
Kimberly Lanham is the Senior Vice President of Client and Industry Relations at Digital Risk.
Howdy, friends! This summer, there will be another chautauqua on financial independence in Ecuador. You should consider attending. These Ecuador chautauquas — which are unrelated to the European chautauquas — are always a fun, educational, and bonding experience.
Clarification: At some point, chautauqua founders Cheryl Reed and JL Collins parted ways. Now JL runs the European chautauquas — which are on hiatus — with Katie and Alan Donegan. Cheryl continues to run the unrelated Ecuador gatherings. Both events are excellent.
I often speak about the intersection of money and meaning when I attend.
How can you find purpose in your life — with or without money? How much money is enough? What should you do after you’ve achieved financial independence? These are the sorts of questions I’ve explored at past chautauqua events. I expect these are the same questions being explored in July.
Speakers this year include:
Tanja Hester from Our Next Life. Tanja is an outspoken voice in the personal-finance community, working hard to challenge assumptions and to promote financial freedom for all. She’s the author of the excellent Work Optional and the award-winning Wallet Activism. (Tanja is also a fellow office-supply nerd. Seriously, our chat history is filled with geeky discussions of favorite pens and notebooks.)
Piggy and Kitty (a.k.a. Jess and Lauren) from Bitches Get Riches. Long-time readers know that BGR is one of my favorite money blogs. I admire how Jess and Lauren blend biting humor with deep dives into personal-finance topics. Not an easy task. And the Bitches are just as funny in person as they are on the web. (I turn to Piggy and Kitty when I need help with modern pop culture. “What does S-tier mean?” “How do I make a Taylor Swift animated GIF?”)
Jessica and Corey from The Fioneers. While I’ve met Jessica and Corey, I’ve never really had a chance to get to know them. I’m eager to change that in Ecuador. I find their writing considered and thoughtful. I’m particularly fond of their concept of Slow FI, the notion that you can use “the incremental financial freedom [you] gain along the journey to financial independence to live happier and healthier lives, do better work, and build strong relationships”. This meshes well with my own vision of the stages of financial freedom. (Last Halloween, Jessica and Corey published an interview with me: Money doesn’t magically fix our problems.)
And, of course, we’ll enjoy a presentation from our host, Cheryl Reed. Cheryl founded these money chautauquas with JL Collins in 2013 and she’s hosted ten of them in the past. She likes to discuss happiness and joy and how to develop it in your life.
If you’re interested in attending this chautauqua, you can find more information at the official website. Note that there are two gatherings in Ecuador this year. If it doesn’t work to join this one, perhaps you can attend the second event.
Each chautauqua is different, of course, but the four previous retreats I’ve attended all had similarities:
Attendees gather at a resort for a week of conversation and camaraderie. These are smallish facilities that allow us to spend time together with few other guests. We eat and drink together. We walk together. We play games together. We talk about money together. We have fun!
Each day, one (or more) of the presenters gives a talk about a subject dear to her heart. (I talk about money and meaning, for instance.) These are l-o-n-g presentations but they’re fun, interactive, and informative.
Each attendee meets one-on-one with a presenter. What you do with that time is up to you. I’ve had people bring detailed spreadsheets and questions about retirement. I’ve had people chat with me about travel. I’ve had people ask for relationship advice (no joke!). Generally speaking, it’s a chance for you to pick a person’s brain about some sort of topic related to their area of expertise.
There are various (optional) off-site trips to visit the local area. In Portugal, we visited a winery. In Ecuador, we’ve visited thriving markets, chocolate factories, and butterfly preserves.
From what I’ve seen, however, the real value is in the friendships formed during these weeks. Much of our time is spent sitting together discussing life, the universe, and everything.
I’m still in contact with folks from each of the chautauquas I’ve attended in the past. Some of these folks have become close friends with whom I have frequent contact. (Our 2016 crew — the Werewolf Hunters — even rented a house in Utah for an in-person reunion. We visit each other whenever we’re in each other’s cities and have a semi-active group chat.)
I can’t promise that you’ll form life-long friends during this week, but from what I’ve seen, the odds are good. And no wonder. You’re gathering with a group of like-minded people to talk about some deep, personal subjects. Bonding is bound to occur.
Here are a few favorite photos from past chautauquas…
These chautauquas aren’t for everyone, and I know that. But they’re perfect events for a certain class of people. If you think that you are one of those people, hop on over to the website to take a look at the details. Maybe I’ll see you in Ecuador this summer!
One more quick note: I recently joined my pal Grant Sabatier on the Earn & Invest podcast for a discussion about money burnout. These conversations with Grant and Doc G are always entertaining and enlightening.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode:
We discuss some of the unique money challenges that millennials face, and how they can feel empowered to take charge of their financial wellness during tough times.
Check out this episode on your favorite podcast platform, including:
What makes millennials and their financial challenges unique? There are many misconceptions about millennials as a generation — but like the generations before them, their financial wellness (or lack thereof) has been shaped by major events beyond their control.
As millennials grew up and navigated early adulthood, they faced recessions, the COVID-19 pandemic, rising student loan debt and a soaring cost of living. The result for many is discontent and a strained relationship with money.
In the first episode of our nerdy deep dive into millennials and their money, Nerdwallet personal finance writer Tiffany Curtis and host Sean Pyles discuss a recent announcement from the Pew Research Center about changes to how it will study and report on generations. They also chat about the role of social media in our financial lives and if they still believe in the American dream.
Tiffany also talks with Angela Moore, certified financial planner and founder of Modern Money Education, a financial education firm. Angela considers herself an “honorary millennial” and works with a variety of people to help them build a strong financial foundation. They discuss historic and present-day factors that have created millennials’ shaky relationship with money and ways that they can take ownership of their finances. That includes working with a professional to address financial trauma and finances, getting clear on financial goals and establishing what happiness looks like for them individually.
NerdWallet stories related to this episode:
Episode transcript
Sean Pyles: If you are of a certain age, anywhere from your late 20s to your early 40s, you have no doubt found yourself at some point reduced to your generational status. You are a millennial. And while every generation has its benefits and burdens, some also bring a specific, shall we say, attitude to the table.
Angela Moore: I think that a lot of millennials are getting to the point where they do not care what their parents think, or anyone else for that matter, they want to focus on happiness. A big theme now is my job has to be fulfilling. My job has to make me happy. I have to enjoy what I’m doing to a certain extent, right? There has to be that balance to life and a lifestyle element to it.
Sean Pyles: Welcome to NerdWallet’s Smart Money Podcast. I’m Sean Pyles.
Tiffany Curtis: And I’m Tiffany Curtis.
Sean Pyles: This episode kicks off our Nerdy deep dive into millennials and money. We’re going to explore what makes millennials unique in how they make money, manage money and talk about money.
Tiffany Curtis: We’re also going to explore how millennials have opened the door to wider conversations about generational financial trauma, and how they’ve gone about defying expectations about what their financial lives are supposed to look like.
Sean Pyles: OK. So, Tiffany, I am going to ask you the question that I ask all of our guest Nerds for these special series. Why are we doing this exactly? You and I are both millennials, so I’m guessing that is part of it.
Tiffany Curtis: Yes, that’s definitely a part of it. I just turned 30.
Sean Pyles: Congrats.
Tiffany Curtis: Thank you. I wanted to do a special series on how we relate to money because there are a lot of myths about millennials and money. There’s a misconception that we’re simply bad with money, not working hard enough. It also feels like general financial advice and ideas about what financial wellness should look like don’t take into account all of the significant events that we’ve lived through, and how those events and generational trauma impact our relationship with money.
Sean Pyles: Yeah, absolutely. And one thing that’s really interesting to me is how the experiences we have at really formative times in our lives shape the way that we think about our own finances and the economy for years to come. Folks in Gen X and boomers also lived through things like the 2008 financial crisis and the COVID-19 pandemic, but by virtue of being in different places in their lives, they may have been shaped by these events in different ways than we millennials were.
Well, speaking of millennials, Tiffany, let’s talk about this generation that we are a part of and also the whole idea of generations. First of all, can you please give our dear listener a refresher on how millennials are defined?
Tiffany Curtis: Yes. So, they’re generally defined, as you mentioned at the top of the show, as people who are between 27 and 42 years old. So, they were born between 1981 and 1996, so their formative years happened during and around the millennium. Although if you were born in the early ’90s, you probably don’t remember how wild Y2K was.
Sean Pyles: Y2K is such a throwback. I was 9 when Y2K happened, or I guess didn’t happen. I spent New Year’s Eve at my grandmother’s house in small town Minnesota, and I remember being very bored, but also feeling like I was in a relatively safe spot in the event that every nuke in the world was detonated at once or something like that. We all thought that was maybe going to happen.
Well, I think we also do want to acknowledge some of the problems that arise when we divide people up into generations. Millennials are not really one monolith nor are boomers or people in Gen Z. And speaking of Gen Z, the boundaries between one generation and the next can feel a little bit arbitrary, and a lot of issues around money have nothing to do with whichever generation you’re in. Having a tense or strained relationship with money isn’t inherently unique to millennials.
Tiffany Curtis: That’s true, but I think you can make a case that there’s a collective discontentment in the millennial generation. And you can definitely argue that’s the first generation to grow up with the internet ingrained in our lives. That makes us different from say, Generation X. We’ve also witnessed growing economic disparity and insecurity, and we’re the first to stare down a life deeply affected by climate change. And I also think it’s fair to say this generation is disillusioned with the American dream. I think we more openly question who that dream is for and whether it’s something to still strive for.
Sean Pyles: Yeah, amen to that. When I talk about money and the future with many of my friends, who are predominantly millennials, many of them express a sense of despondence or that they feel like they’ll never get ahead financially. But I don’t want this to be too much of a bummer conversation.
So, Tiffany, let’s talk about what is good. You mentioned the influence of the internet, and I would argue that has been a force for both good and bad. On the good side, it has allowed us to have really important conversations openly, publicly about all of those factors that you mentioned.
Tiffany Curtis: Agree.
Sean Pyles: And technology itself has brought changes to our financial lives. For example, do you ever even go inside banks anymore or even like a real old-fashioned brick and mortar store? We do have the world at our literal fingertips from the comfort of our couches.
Tiffany Curtis: Agree. I do still go into banks too, though.
Sean Pyles: Well, that is your own prerogative and good for you because I have not set foot in a bank in a long time.
Tiffany Curtis: But I remember when we were first talking about this series, we ran across some interesting perspectives on this whole “call me by my generation” question, didn’t we?
Sean Pyles: We did, and I particularly want to cite the Pew Research Center, which issued an explainer this year that said it was going to change its approach to studying and reporting on generations. The biggest takeaway, I think, is that they’re going to analyze generations when they have historical data that allows that comparison at similar stages of life. So, for example, they would look at people in their 30s and 40s across time instead of by arbitrary generational designations, and that makes sense to me.
Tiffany Curtis: Me too. But for now, we’re kind of stuck with millennials as a generation, so let’s talk about them.
Sean Pyles: Yeah, might as well, right?
OK, well, listener. we want to hear what you think. To share your ideas, concerns, solutions around millennials and money, leave us a voicemail or text the Nerd hotline at 901-730-6373. That’s 901-730-NERD, or email a voice memo to [email protected].
So, Tiffany, who are we going to hear from today?
Tiffany Curtis: Well, we’re going to start today with Angela Moore. She’s a certified financial planner and founder of Modern Money Education, a financial education firm. She’s based in Florida and calls herself an honorary millennial.
Welcome, Angela. So, glad you could join us on Smart Money today.
Angela Moore: Thank you. I’m excited to be here.
Tiffany Curtis: So, let’s start with an overview of where millennials are in their financial lives right now. What stands out to you as someone who does financial planning with millennials?
Angela Moore: I think what stands out the most is that there’s just so many competing priorities because we’re kind of like a sandwich generation. Many of us have parents that are getting up there in age, close to retirement age, so there’s the need to potentially help them financially or help them plan for retirement, supplement their financial situation. And then, many of us are beginning or have children at this point, so there’s the need to plan for our children and their education and their everyday expenses and needs.
And then, we still have all these competing personal financial priorities, whether it’s our everyday bills or our student loans, purchasing a home or other goals, and there’s so much more to add in there. We don’t have the same type of retirement benefits that previous generations had, and housing prices and the cost of living in general has just skyrocketed.
Tiffany Curtis: What do you think are some specific events that have shaped this generation in terms of how we view the role of money and the attainment of it? I’m thinking about things like the 2008 financial crisis and of course the COVID pandemic. Can you talk about some of the ways that those events affected millennials’ finances?
Angela Moore: Absolutely. The pandemic hit millennials very hard. The Center for Retirement Research at Boston College said that millennials were more likely to be laid off during the pandemic. The Pew Research Center said millennials were hit harder by the COVID-19 pandemic.
And so, I think that’s just part of the story. The other part of it is that there was a study done by the National Institute on Retirement a while back that found that 66% of working millennials have nothing saved for retirement. I think one of the things that really hit home for a lot of millennials is that there’s no stability here and that this system is not really working for us. And I didn’t even mention the student loan situation. I mean, I’ve routinely seen clients that have $200, $300,000 of student loan debt. And so, I think that forces you to have to think outside the box and be creative.
If you’re a millennial and you’re seeing what’s stacked against you, it’s almost like, “OK. Well, how can I now separate myself from this situation and elevate? How can I transcend this situation?” It’s not necessarily because millennials want to be creative and want to do everything differently. And then, it’s almost like you’re getting judged for wanting to be different, you’re getting judged for not taking a traditional route.
One of the historic things that happened was our country did away with traditional retirement plans. Back in the day, a lot of U.S. workers had pension plans. And it became very expensive to maintain these types of traditional retirement accounts or pensions, and so a lot of companies began to move to 401(k)s and 403(b)s and kind of what we call contribution-type plans. And so what that did, it shifted the burden of saving for retirement from the employer to the employees. The traditional advice that older people got when they were younger, it doesn’t work for our generation. It’s not going to work.
Tiffany Curtis: So, what do you think is some of that traditional advice that isn’t working for millennials anymore?
Angela Moore: I think the traditional advice is, “Go to college. Get a job. Save your money. Balance your checkbook.” The standards hold true, but it’s not enough anymore.
For someone who’s just working an average job trying to save and trying to penny pinch and budget their way through their financial situation is not going to have enough money saved to live on all throughout retirement. If you do the math, if you look at, “Hey, let’s say I start working when I’m 20 and I retire when I’m 65. OK, that’s 45 years that I’ve worked.” But let’s say that I live to be 100 or 95, let’s say. That means that in the 40 years that I’ve worked, I need to have saved enough to live on another 30 years. And I’m supposed to be saving this money even with the high cost of living, the high cost of purchasing a house, the high cost of paying for education, the high cost of inflation. And on top of that, I’m also supposed to be navigating this tumultuous financial market, right? The investment market. It just doesn’t add up.
Tiffany Curtis: So, I’m wondering if you can talk about some of the misconceptions that other generations might have about millennials, especially our relationship with money and how we manage it. How do you think millennials are seen by the rest of society?
Angela Moore: I think a lot of society, in the past especially, has looked at millennials as lazy, they don’t want a job. I think those are the most common misconceptions I’ve heard.
But in working with mostly millennial clients, I have to differ with that. I think that millennials are some of the smartest clients I’ve ever had. They’re extremely resourceful. They’re extremely mature. It’s not all about money for millennials, a lot of it is about health and wellness and balance, and I think that that’s key.
I think a lot of millennials do have a sound mind and they are aware of the financial situation and concerned with it. I just think that it’s hard. It’s extremely complex. From a financial standpoint, I think that millennials have actually done an excellent job of being aware of their financial situation and taking steps to try to do the best that they can.
Tiffany Curtis: Where do you think they’re coming from, the misconceptions?
Angela Moore: A lot of older people are not aware of how much it costs to go to college now. You can easily spend $80,000 a year on college now. And there’s a lot of things that the older generations just were not exposed to.
Even finding a job. I mean, even me, when I graduated college, I graduated college in 2002, it was easy to find a job, but things are different now. Things are completely different. And even finding a livable wage, especially in some of these major cities — let’s say you’re earning $100,000, that’s not a lot of money in a lot of these urban cities, in these environments. It doesn’t go very far nowadays.
Tiffany Curtis: So, we talked about things that older generations may not have been exposed to. So, that makes me think of millennials and the internet and how we’re kind of the first generation to really grow up in the age of the internet, and this big boom with social media especially. Can you walk us through the effect that you think that’s had on how we view our finances? Do you think it’s helped or hindered us?
Angela Moore: I think both. I think on the one hand, it’s exposed us to so many different options, so many different career paths, so many opportunities that we wouldn’t have had if we didn’t have access to information.
But then on the other hand, there’s the whole social media aspect and the comparing ourselves, and everyone’s out here living their best life on a yacht in some tropical paradise or whatever. And it just makes you feel like you’re broke compared to everyone else. There’s a lot of influencer type of content out there. And it’s hard when you are putting your head down and you’re working and trying to earn income and trying to save and trying to just create something, and it just looks like everyone else is doing so much better than you.
It’s both helped us in a lot of ways by giving us opportunities and exposure to things, but then at the same time, it can be devastating in a lot of ways as well and overwhelming. And so, subconsciously, you’re holding yourself to that standard. It’s almost impossible for us to separate the two internally in our brains.
Tiffany Curtis: I feel like when it comes to social media and millennials and finances, it very much feels like it just kind of amplifies that feeling of the haves and the have-nots, which makes me think of wealth inequality. There’s a lot of research coming out about the wealth gap among millennials, especially racially, and the major difference in net worth between white millennials and black millennials and other millennials of color. And wealth inequality is a source of generational financial trauma. So, I’m wondering, what does generational financial trauma look like to you?
Angela Moore: I’ll tell you a quick story. When I first got in the industry as a financial advisor, I was working at a huge brokerage firm and we had cubicles. And there was a young woman sitting across from me, and she was on the phone with her attorney discussing her prenuptial agreement like it was nothing. Just casually discussing what she would like to have in the prenup and all these different things. And I thought to myself, “Wow, I’ve never heard anyone talk about this.”
And as I grew in this career, that’s something I saw, is that there are certain families that talk about wealth, they talk about estate planning, they talk about business, they talk about investments, they talk about all these things at the dinner table on a routine basis. And in a lot of black and brown communities especially, you could go your whole life and you’ve never had a conversation about those things.
We’re just not typically exposed. We’re not at the table. We’re not in the room. And obviously, I mean, we all know the history of this country, there are certain families that have had generational wealth that came all the way from slavery times. The same goes for poverty. There is poverty that has been passed down from generation to generation. It’s a poverty mindset. It’s lack of knowledge, even. It’s behavioral patterns and habits that have been passed down. You saw your parents doing it, so you’re doing it.
And it’s not just that, then there’s also obviously what kind of access to advice that you have. One of the things that really bothered me about my industry when I stepped back and thought about it later in my career was that most financial planning firms and brokerage firms, they cater to high-net-worth clients. And what that means is that they are looking for individuals that have at least a million dollars to invest with them. A lot of these companies don’t even have any services that will cater to you at all. And so it’s like, where do the rest of us go for financial advice?
But I do think that a lot of millennials, what’s great about this is that because of the resources that we have, like the internet for example, people are beginning to take these matters into their own hands and they’re educating themselves. They’re reading books. They’re finding people like me to help them. They’re listening to things like this. They are really trying to empower themselves, which we’ve always done, but there’s now this access to information that wasn’t really available before.
Tiffany Curtis: And speaking of empowerment, what kind of advice do you give to your clients about how to deal with generational financial trauma?
Angela Moore: I think that seeking professional help in terms of therapy is not talked about. There’s trauma, there’s mindset and hindering beliefs a lot of times. So, seeking therapy.
The other thing is associating yourself with like-minded people who are also trying to empower themselves. So, find a Facebook group or whatever it is of people who are trying to financially empower themselves.
And then lastly, find a professional to help you get your finances in order, whether that’s a financial coach, financial advisor, financial planner, an investment advisor, whatever. There’s a lot of different types of financial professionals out there that can help you. There’s even student loan specialists out there. So, there’s just a lot of help nowadays and resources.
Tiffany Curtis: You’ve touched on some resources already, but given everything that we’ve talked about that millennials are navigating when it comes to their financial lives, what are some steps that they can take toward financial wellness right now? Immediately, as soon as they’re done listening to this, what sort of things can they do?
Angela Moore: Yes. So, the first thing you can do is take ownership and get organized. You want to have clarity around your current financial situation.
So, the first step is write out a budget, write down all of your monthly expenses and also any debt that you owe, anything like that. List it all on a piece of paper or a spreadsheet or whatever, just so you can have clarity around that. And then, also, list out how much income are you bringing home every month, and then compare. How much is coming in versus how much is going out? That’s the very first step.
Once you’ve done that, you want to focus in on your goals. So, many people have no clue what they’re trying to accomplish when it comes to financial situations. You could maybe have some short-term goals, maybe some long-term goals.
But then the next step is aligning your budget with those goals, right? Every month money’s coming in. Are you allocating that money in a way that aligns with what you are trying to accomplish in your life? That is the key. If your money’s just coming in and going out to all these random places and it’s not intentional, you’re not being intentional about how you’re spending or where you’re putting your money, then that’s where chaos sinks in.
After that, I would say focusing in on eliminating debt, making sure you have an emergency fund saved, then reviewing your insurance, car insurance, really important, all the different types of insurance. Disability insurance, you should know what disability insurance is, and you need to make sure you have it because disability insurance is insuring your income. If something happens and you are disabled and can no longer work, how are you going to save for retirement? How are you going to buy a house? How are you going to do anything? So, you need to make sure that you’re insuring your income with disability insurance.
And then, another thing is estate planning. Everyone thinks that estate planning is only for wealthy people, but that’s not the case. All of us should do an estate plan because an estate plan says, “Hey, if I’m ever in the hospital, who do I want making medical decisions for me? Who do I want to have access to my finances to be able to pay my bills and make sure my business keeps flowing and all these different things?”
Tiffany Curtis: It makes me think about how millennials are or aren’t redefining what financial wellness feels and looks like for them. So, I’m wondering if you could talk through, what do you think that looks like? Do you think that we’re redefining financial wellness? If we are, how?
Angela Moore: Absolutely. I think that a lot of millennials are getting to the point where they do not care what their parents think, or anyone else for that matter, they want to focus on happiness. And so, a big theme now is, my job has to be fulfilling. My job has to make me happy. I have to enjoy what I’m doing to a certain extent, right? There has to be, like I mentioned earlier, that balance to life and a lifestyle element to it.
I think the other thing is that a lot of millennials are doing what I call thinking outside the box. They are creating their own realities. A lot of millennials are starting to create their own businesses. They are leaving corporate America. They are creating new, innovative ways to make money and create multiple streams of income.
And they’re realizing that they need to increase their income in order to achieve financial stability. And I also think, you know, challenging societal norms. A lot of millennials are not trying to buy a house, some are not trying to get married. People are really looking at, “What makes me happy and what can I do to live the life I want to live in the most authentic way possible, instead of what society expects of me?” And so, that’s something I see that is unique to millennials.
Tiffany Curtis: So, it sounds like the onus is on millennials a lot to come up with these creative solutions and figure out how to do things in a nontraditional way, because like you said, the system isn’t working for us. But if you could, how would you like to see the system better support millennials?
Angela Moore: Well, I think a lot of it is political, and I think we’re seeing that some leaders are trying to address issues. Obviously, there’s a whole lot of issues to be addressed, and so sometimes our particular issues don’t take precedence, but I think that they should. Because the baby boomer generation, which is our parents’ generation, they are aging. They’re retiring, going into Social Security. So, the onus falls on the current working class to fund Social Security for them and fund retirement for them. And because there’s not as many of us, there’s a strain on the system.
These are all major, major concerns. When you add it up and do the math, it’s not going to work out unless something changes. So, I think that hopefully as we become leaders and get into leadership, that we can help push forward change.
Tiffany Curtis: Angela Moore, thank you so much for helping us out today, and helping us kick off the series.
Angela Moore: The pleasure is all mine. Thank you.
Sean Pyles: I love how Angela talked about the importance of empowerment and community. You two discussed a number of big challenges that the millennial generation is facing: wealth inequality, generational trauma, a difficult housing market. And these issues are real and hard to navigate. But at the end of the day, we still do have agency, right? We can decide what to do with our finances and can work to better our situations, even if the broader economic and societal context is difficult.
Tiffany Curtis: We do have agency. We get to decide what our financial priorities are. And I think with open and honest conversations like these, we move a little bit closer to improving our relationship with money, while we continue to hope that systemic change is on the way.
Sean Pyles: Exactly. Hoping that systemic change is on the way and taking action to make that happen. So, Tiffany, Angela touched on this a bit, but I know in our next episode we’re going to dive even further into the idea of generational financial trauma.
Tiffany Curtis: Yeah, we’re going to talk with two guests who have spent a lot of time counseling and educating millennials on how generational trauma intersects with our finances and how we may not even realize that said trauma is at the root of our relationship with money.
Aja Evans: When we start talking about financial trauma, in general, I think that there is a conversation that assumes people were coming from a place of poverty. And yes, that is very, very true for a lot of people, but there are also people who were raised in middle class, upper middle class wealthy families who are dealing with generational traumas of their own with money.
Tiffany Curtis: For now, that’s all we have for this episode. Do you have a money question of your own? Turn to the Nerds and call or text us your questions at 901-730-6373. That’s 901-730-NERD. You can also email us [email protected]. Also visit nerdwallet.com/podcast for more info on this episode. And remember to follow, rate and review us wherever you’re getting this podcast.
Sean Pyles: This episode was produced by Tess Vigeland and Tiffany Curtis. I helped with editing. Liz Weston helped with fact-checking. Kaely Monahan mixed our audio. And a big thank you to the folks on the NerdWallet copy desk for all their help. Also, a special shout out to Kathy Hinson for all of her help on the series.
Tiffany Curtis: And here’s our brief disclaimer, we are not financial or investment advisors. This Nerdy info is provided for general educational and entertainment purposes and may not apply to your specific circumstances.
Sean Pyles: And with that said, until next time, turn to the Nerds.
In our latest real estate tech entrepreneur interview, we’re speaking with Marshall Beck from BrokerAssist. He’s a recent addition to the Geek Estate Mastermind.
Who are you, and what do you do?
Marshall Beck here, Co-founder and CEO of BrokerAssist, and I do lots! Currently, my main focus is to add great value in helping real estate professionals manage and grow their businesses, with the BrokerAssist collaboration and referral network. I also write unscripted television shows and have a few projects in the works with a production company. I co-host quarterly wellness seminars and promote a vegan lifestyle; for the health and happiness of ourselves, the planet, and animals.
What problem does your product/service solve?
Think gig economy for real estate. As a real time, mobile marketplace for agents and brokers to collaborate on fractional assistance and referral needs, BrokerAssist solves the logistical problems brokers face with last minute showings, coverage while on vacation, referral needs, and more.
How do agents grow their businesses? By building teams. BrokerAssist is a cost-effective solution for the agent trying to grow their business without the budget for a full or part time assistant. It’s for the agents who would rather knock out a few more listing appointments than sit at an inspection, which could easily be covered for them by a fellow quality, licensed agent or broker. It’s also for the agents who have some free time to earn extra cash, and maybe a newer agent who’d like more experience at these tasks.
There is no industry wide platform for fractional assistance and referral networking where independent and national firms may collaborate for business growth. Agents and brokers are resorting to Facebook groups, email threads, phone/text, and other outdated and non-integrated payment options.
It’s time to move on from the expensive industry referral models that take as much as 33% of broker and agent commissions. These platforms have lengthy processes and are not on-demand as agents and broker expect, to ensure their referral opportunities are not lost. BrokerAssist solves this as the free on demand referral connection service for real estate professionals. We help keep brokers and agents at the center of their transactions.
What are you most excited about right now?
The BrokerAssist team is deep in QA, wrapping up some development features and starting the Beta testing process. These are exciting times as we move closer to our national launch to android and iOS app stores very soon! I am most excited to see how our technology is adopted and to learn from brokers and agents on how we can improve and expand our products and services as we grow.
What’s next for you?
Growth is next with a deep dive into building a robust BrokerAssist network. Our team has so many great ideas on next generation features and how to expand this platform into other real estate horizontals for additional application. To accomplish this, our next move involves fundraising among friends/family and angel investors.
What’s a cause you’re passionate about and why?
I am a vegan wellness and lifestyle advocate because I care deeply about our responsibility to sustain the happiness and health of ourselves, the planet, and the animals. It’s as simple as supply and demand. We vote with our dollars, and conscious consumption with a vegan lifestyle is a part of the future as we learn to live in harmony with Mother Nature during these modern times.
Thanks to Marshall for sharing his story. If you’d like to connect, find him on LinkedIn here.
We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).
When decorating your space, you don’t have to sacrifice convenience for style. Machine-washable rugs are here to prove just that.
With various materials, patterns and sizes to choose from, you can easily find one that suits your taste, fits your room and is life-proof. Whether you need a rug for a bustling living room or a cozy bedroom, these rugs add a touch of flair and save you the hassle of difficult cleaning.
Image source: Amazon
A great living room decorating tip is selecting a statement piece to decorate around. This can be any piece of furniture, a rug or canvas art that breaks apart the neutrality of other decor pieces while bringing out your unique style.
The VK Living Vintage Rug will not only make your living room vibrant but is sure to withstand the wear and tear of kids, pets and accidental messes. Available in other colors and sizes, this rug perfectly balances durability with style options for your personal taste.
Image source: Amazon
In minimalist design, each element in the space must be meticulously considered for its individual merit and its relation to the whole design. When it comes to breaking up the monotony, geometric patterns are a must to incorporate in the space.
This washable rug from nuLOOM is neutral while visually interesting. No need to worry about pet stains: You can throw this rug into a regular cold wash cycle to return it back to its original, polished state.
Image source: Amazon
Cooking is a labor of love. Some dishes take longer than others and some are messier than others. In these instances, it’s helpful to have a comfy rug to stand on that can handle a few splatters of food.
The solution for your kitchen is LEEVAN’s Washable Kitchen Rugs. Available in five stylish colors, this rug is the perfect partner for your kitchen when it comes to practicality and finesse.
Image source: Amazon
Barbiecore has taken over the design world following the release and reception of the Barbie movie. Incorporating pink into your decor can feel overwhelming since pink is a vibrant statement color. A great place to start is smaller pieces like placemats and art canvases to ease your way into the pink color scheme.
Try the Wonnitar Modern Ombre Small Rug as a bath placemat or small bedside runner. This washable pink accent rug is sure to withstand wear while turning your room or bathroom into a Barbie-themed haven.
Image source: Amazon
Whether you’re channeling your inner coastal grandmother or actually living shoreside, decorating with the beach in mind is enjoyable. In your decor search, it’s important to consider a rug that can withstand the temperament and changes in the weather alongside life’s everyday messes as well.
The Tritard Coastal Sea Turtles Area Rug is sure to keep relaxation at the forefront of your mind with its combination of durability and cuteness. Also available in other beachy patterns and sizes, this stain-resistant rug is perfect indoors or outdoors.
Image source: Amazon
Loving the pets in your life is easy, it’s the clean-up that’s hard. The messes of a pet are unpredictable and it’s important, as a pet owner, to buy pieces that can withstand the wear and tear caused by our beloved animals.
The Ophanie Machine Washable Rug is not only soft and comfy but is machine washable, perfect for unpredictable but inevitable accidents. Additionally, this rug comes in six color options and is slip-resistant, adding to its durability and pet-friendly repertoire.
Image source: Amazon
There are some rooms that don’t have a specific shape or purpose, leaving the window of creativity wide open. A unique room, like a sunroom, sitting room or office even, calls for a unique rug.
This HEBE Boho Round Area Rug is the perfect addition to your undefined room. Whether you’re reading a book or working on a project, this washable rug under your feet is sure to provide comfort and happiness through its distinctive bohemian flair.
Image source: Amazon
The one room that requires the most color and vibrancy is arguably the kiddo’s room. This space should inspire creativity, enhance moods and reflect a child-like fun feel through decor. What makes decorating a kid’s space difficult is making sure the furniture and finishings are stain-resistant or easily washable.
The child-proof Lahome Pink Carpet is perfect for brightening up a room while offering peace of mind. The washable rug is available in other colors and is a parent’s functional favorite.
Image source: Amazon
An often-forgotten decor item is a runner rug. Runner rugs lay in slimmer aisleways and hallways, standing as a focal point where other furniture may not fit. These runners, while slender, tend to be attention-grabbing.
This stunning YOUFORTONG Runner Rug is perfect for your doorway. It’s guaranteed to leave a lasting impression on guests as they enter the home and as they say their goodbyes. While it’s sure to collect quite a bit of tread due to its placement, it’s machine washable and durable.
Image source: Amazon
Spooky season is upon us and for those who love to lean into the festive spirit, themed decorations are an absolute must. Since holidays like Halloween come once a year, it’s important the decorations are washable after sitting in storage until their time to shine rolls around.
This funky Estmy Spider Web Halloween Rug is the perfect festive piece to get into the spooky spirit. Also nonslip, this rug is sure to stay put through Halloween stories and fireside tales.
Image source: Amazon
Maximalism happily lives on the opposite end of the design spectrum from minimalism. In all its colorful and fun-pattered glory, maximalism leans into taking things to the max. Mix-matched patterns and vibrant color schemes fill the rooms of those brave enough to tread into the funky design territory.
Revival Rugs Gambit rug is eclectic and sure to bring spice to any maximalist room. Washable and cushioned means comfort and durability among the carefully curated maximalism madness.
Live smarter, not harder
Washable rugs are a blessing among the chaos that comes with everyday life. Between pet stains, kid wear and accidents, it’s nice to know a quick toss in the wash can return your beloved statement piece back to its original state. Make an investment that’s sure to keep you and your wallet happy.
Wesley is a Charlotte-based writer with a degree in Mass Communication from the University of South Carolina. Her background includes 6 years in non-profit communication and 4 years in editorial writing. She’s passionate about traveling, volunteering, cooking and drinking her morning iced coffee. When she’s not writing, you can find her relaxing with family or exploring Charlotte with her friends.
self-expression, color and creativity. Does orange make you smile? Dress your kitchen in the happy hue. Love a variety of styles? Do a mashup.
The look goes by many names. Fashion writer Dawnn Karen referenced the feel-good brain chemical in her book “Dress Your Best Life,” holding that “dopamine dressing” — wearing clothes in your own, individual style — gives you positive feelings.
Decorators and influencers say the same thing happens when we throw out old decor rules and step into a space adorned with personal touches. We’re more relaxed. More creative.
People are asking themselves what colors and patterns they really love, “and then bringing those features into their spaces — even if it goes against conventional decorating advice or what they might have seen online 10 years ago,” says Lauren Phillips, associate director of special projects at Better Homes & Gardens.
‘BARKITECTURE’ AND OTHER WAYS TO USE A ROOM
The trend toward making rooms more comfortable, functional and personal gained steam during the pandemic, when many people were homebound. And it continues to grow, Phillips says.
“Unused guest rooms are home offices. Formal dining rooms become craft spaces. And ‘barkitecture’ is having a moment — installing dog baths and other pet-specific features,” she says.
Decor is awash in aesthetic “cores” — Barbiecore, cottagecore, coastal grandma, mermaidcore.
“But I don’t take it to mean we’re bouncing from trend to trend super quickly. To me, it means people are defining their own style, and really getting to the root of the designs they love, even if that’s a little more colorful, kitschy or funky,” says Phillips.
SOCIAL MEDIA HAS LOOSENED THE CREATIVE REINS
There’s lots of inspiration on the internet. “If, 15 years ago, we all wanted the picture-perfect kitchen we saw online, today it’s all about taking a trend or beautiful interior that you see on TikTok or Instagram and pulling out the details you love,” says Phillips.
“Gen Z is on the cusp of becoming our new homeowner,” says Amanda Kruse of Upspring PR, a New York-based marketing firm for real estate, design and interiors.
And they’re more likely to mix styles for a personal spin, she says.
ARTSY ELEMENTS
Emilie Munroe began designing a San Francisco family’s Victorian home by leafing through a sheaf of torn-out magazine images from the client.
“We knew immediately our design should exude happiness and inspire curiosity,” says Munroe.
A tiny powder room got an exuberant pink-and-black, animal-print wallpaper. In a tight hallway next to a window, there’s a kaleidoscopic wallpaper, an abstract rug and a Basquiat-patterned chair.
London-based design editor Cara Gibbs, meanwhile, has noticed the free-wheeling use of paint.
“I feel like it used to be wacky to paint a room pink from top to bottom, but now the application of these bright, poppy palettes is chic, interesting and most importantly very livable. I’m here for it!” she says.
So is Massachusetts designer Nicole Hirsch. She’s put a zingy green — she calls it “alligator” — on a bathroom ceiling. Tangerine on a playroom ceiling. Cobalt blue, lipstick pink and chrome yellow add lively punches on furnishings.
HIDEAWAYS
In her own California home, designer Alison Pickart has the kind of roomy closet that storage-challenged homeowners would envy. But she saw value in a different use.
“It was a hall closet, but with its generous size and great natural light from a back window, I just felt like the space could be ‘more,’” she says.
So she turned it into a little “phone room” for herself. “It seemed like the perfect size and place to escape, with some privacy to make a call.”
Clara Jung of Banner Day Interiors worked with clients on a San Francisco ranch house that’s full of big, airy spaces. But nudge the secret panel in the living room bookcase and you’ll find a cozy, color-saturated, album-lined music den. There’s a vintage wood bar and a sprawl-worthy crimson rug.
“The homeowners are avid LP collectors,” she says, “and the husband’s a musician.”
Jung was ready to install a door when the clients suggested creating the secret entrance instead. “We loved the idea!” she says. “It’s the perfect escape for an audiophile.”
Maybe that’s the new decorating rule: Create your own “perfect escape.”
Inside: Looking for information on what a typical Christmas bonus in the US is? This guide will help you calculate how much you can expect and what to do with it.
Are you waiting eagerly for that year-end surprise called the Christmas bonus? Like Clark in National Lampoon’s Christmas Vacation?
Or maybe you’re an employer wondering about giving out festive bonuses?
This guide is a jingle bell away with everything you need to know about Christmas bonuses in the United States.
You’ll discover how these additional pays work, what the typical bonus amounts are, tax implications, the benefits of giving a bonus, and wisely spending your bonus. In other words, it decodes everything from the employer’s perspective, right to how it impacts an employee’s pocket and spending decisions.
So, buckle up – you’re about to become a little richer in knowledge. Stay tuned!
What is a typical Christmas bonus?
A Christmas bonus, often referred to as a “13-month-salary,” is a special gift you might receive from your employer at the end of the year.
It depends largely on your company’s resources and financial standing, meaning not everyone will get one.
However, if you’re lucky, you might expect a bonus ranging from 2% to 5% of that, discretionary to your employer.
Thus, the average Christmas bonus would be you could be looking at an additional payout of around $1144-2860, assuming an average income of $57,200.
Does everybody get a Christmas bonus?
Not all employees in the US typically receive a Christmas bonus.
The giving of bonuses varies between companies and roles within those companies.
Personally, I have only had one company that gave out Christmas bonuses. Most companies tend to give their annual year-end bonuses, which may be based on factors like performance or tenure, during the first quarter of the new year.
While a Christmas bonus would be nice as it often serves as an appreciation gesture for hard work throughout the year.
Understanding the concept of Christmas Bonus
A Christmas Bonus is essentially a little financial gift from your employer during the holiday season. Think of it as an extra dollop of icing on your annual salary cake.
It’s typically a percentage of your salary and serves to show appreciation for your hard work throughout the year.
For instance:
Let’s say you earn $80000 a year and your boss awards a Christmas bonus of 5% would then receive an extra $4000 just in time for the festivities.
Your company elects to give all employees a flat $1000 Christmas bonus regardless of seniority.
Note that a Christmas bonus isn’t legally required and varies greatly between businesses.
History of Christmas Bonuses
Woolworth’s birthed this tradition back in 1899, offering a cash bonus of $5 for each year of service with a limit of $25.
In Woolworth’s early years, they established a pattern of rewarding their employees with a generous Christmas bonus.
This practice was seen as an annual tradition and was appreciated by their staff, instilling a sense of loyalty within the workforce.
Over time, Christmas bonuses have evolved not just in amount but in form as well. Besides cash, you could also receive gifts or even lavish holiday parties.
Despite the more modern trend of diminishing Christmas bonuses, this part of Woolworth’s history highlights the positive potential of such incentives.
Factors influencing the amount of Christmas Bonus
Considering factors on the Christmas bonus is crucial because it ensures fair distribution, tailored to individual employees’ performance, length of service, or their specific needs.
We all know that bonuses adequately demonstrate appreciation and recognize the hard work of their employees, increasing their job satisfaction and driving productivity.
So, let’s look into whether or not a Christmas bonus is viable for you or your company.
1. Company policy on Christmas Bonus
A company’s policy about Christmas bonuses is typically laid out in the employee handbook and company policies.
Policies may stipulate that Christmas bonuses are issued under certain circumstances, like when the employee has met specified targets or when the company has performed exceptionally well during the year.
Also, the board of directors may elect to give out one-time Christmas bonuses.
However, if these bonuses are not incorporated into the employee’s employment contract, they are typically subject to the employer’s discretion. Employers must take extra caution to ensure that these bonuses are presented as discretionary and not part of a contractual agreement.
Remember, these factors may vary from one company to another. Always refer to your employer’s specific policies and handbooks for accurate information.
2. Amount of Salary
Your annual gross income might influence the amount of your Christmas bonus, as some employers factor in their employees’ base pay when determining bonus amounts.
However, not all organizations adopt this practice, with some opting for a fixed, equal distribution amongst all staff members regardless of their earnings.
Therefore, depending on your contractual agreement and your employer’s policies, your salary could influence your bonus, but this isn’t a universal rule.
3. Type of Bonus
The types of bonuses vary greatly as companies have the discretion to decide the nature of the bonus, with the decision often driven by the organization’s performance, the individual’s job role, and the overall economic conditions.
They can be incentive-based, linked to performance targets, holiday-exclusive like Christmas bonuses, or tagged to specific business milestones, leading to significant variability.
Here are different types of bonuses you should know about:
Discretionary bonuses: These are given at your employer’s will. They might consider factors like company performance or your personal performance reviews. However, there’s no guarantee you’ll receive one.
Non-discretionary bonuses: These are part of your employment contract. As long as you meet certain criteria, you’ll receive this bonus on top of your salary during the Christmas season.
Non-holiday bonuses: Given outside of the holiday season, these can be extra pay or an item like a company car.
Remember, your bonus type dictates how much you could get for Christmas. Be sure to check your contract!
4. Company Culture
Company culture significantly affects bonuses as it underpins how employees perceive their value and recognition within the organization.
If the culture fosters transparency, fairness, and goal-oriented behaviors, bonuses can effectively serve as an incentive and boost morale. Statistics show that employee loyalty increases when they feel appreciated, which can often be demonstrated through financial bonuses.
Moreover, a culture encouraging open communication assures employees of fair dealing when it comes to awarding bonuses.
Hence, bonuses, when tied to clear goals, become more than just monetary rewards, ensuring employees understand their role in the company’s success.
5. Recipients of the Bonus
In the US, Christmas bonuses are usually gifted to all employees, irrespective of their role or position.
Some of the roles that may receive a Christmas bonus include:
Full-time employees: Usually part of the main workforce, these individuals are often at the receiving end of holiday bonuses.
Part-time employees: Even though they may work fewer hours, many companies consider them for bonuses.
Temporary workers: Though their roles are for a limited time, they are generally excluded as part of the company’s bonus scheme.
Contracted employees: If their contract includes a clause for a holiday bonus, they are quite likely to receive a Christmas bonus. If it does not, they will not receive one.
Remember, the goal is inclusivity, a policy aimed at making every employee feel rewarded and appreciated during the festive season.
6. Holiday Season
Christmas bonuses are commonly offered by employers during the holiday season in the United States. This bonus is seen as a way to show appreciation and respect to employees, which can help to mitigate feelings of burnout.
Companies may elect to give bonuses at other times of the year to motivate their employees and boost their job performance. These bonuses can incentivize individuals to achieve specific company goals, with the promise of additional monetary compensation driving their hard work.
Aside from motivation, off-season bonuses also serve as a token of appreciation, illustrating a company’s recognition and value of their employees’ efforts.
It’s worth noting that a bonus doesn’t necessarily have to be monetary. Examples can also include extra vacation days or other perks.
7. Amount Given to Employees
A Christmas bonus is an extra payment given to employees during the holiday season as a gesture of gratitude for their commitment and hard work.
Factors influencing the Christmas bonus amount include:
Length of service: Employees who’ve been with the company longer might receive a higher bonus. For instance, an employee with a decade of service might receive $1,000 at a rate of $100 per annum.
Based on Salary: Many companies may opt to give a flat percentage related to the salary of their employees.
Flat Amount: Others may give the same amount to all employees across the company.
8. Company’s Financial Resources & Performance
A stronger performing company is more likely to give more bonuses as it typically correlates with higher profits, enabling them to be more generous with employee rewards.
On a company level, if overall performance benchmarks are hit, Christmas bonuses may increase across the board.
In fact, the incentive of bonuses can create a highly driven workforce that pushes towards achieving and even exceeding business goals. Furthermore, companies that distribute bonuses, particularly holiday bonuses, can significantly boost employee morale, fostering both loyalty and a positive company culture.
How to Calculate Your Potential Christmas Bonus
Calculating your Christmas bonus can often seem nebulous, leaving many uncertain about the amount they should expect.
The elusive nature of the Christmas bonus can largely be attributed to the fact that unlike salary, it isn’t typically fixed and may vary based on several factors such as an employee’s performance, the length of their service, or the financial health of the organization.
Despite this, there are a few pointers that can shed light on how to calculate this anticipated festive season reward.
Step 1: Check if you are Eligible for a Christmas bonus
Figuring out your potential Christmas bonus firstly entails a careful examination of the terms of your employment contract, alongside other supporting documentation such as your employee handbook or job offer letters.
These documents accurately establish the contractual relationship between you and your employer and often contain crucial clues about bonus calculations.
For instance, if your contract states that you are entitled to an equivalent of one week’s salary as a Christmas bonus, then you can confidently expect that amount.
Keep in mind the discretion of the employer in case of confusion. Some bonuses might not be contractual but discretionary. Consult your HR department for clarification if needed.
Step 2: Calculate your percentage of the total bonus amount
To calculate your bonus based on your salary, you need to know the exact percentage your employer uses, which usually ranges from 2-5% of your annual earnings.
Multiply your annual salary by the bonus percentage to determine your possible holiday bonus.
For instance, if you earn a yearly salary of $100,000 and your employer gives a 2% bonus, you’ll receive a $2,000 bonus.
Step 3: Is my Christmas Bonus Taxable?
So, if you’re anticipating a hefty holiday bonus, remember, it might be subject to taxes.
Bonuses are often considered supplemental income.
As such, the Internal Revenue Service (IRS) requires a 22% federal income tax on this income, which can reduce your bonus significantly.
State laws also have a part to play. Your holiday bonus is taxed according to your state tax rate, which is another cut from your bonus.
For example, your bonus amount is $5000 after federal taxes of $1100 and state 4% taxes of $200 are deducted, your take-home bonus is $3700.
How to Spend Your Holiday Bonus
The anticipation of receiving that extra lump sum has many employees daydreaming about that eye-catching new car, an extravagantly relaxing vacation, or perhaps the latest tech gadget.
Although it’s tempting to indulge in the pleasure of immediate gratification, there are more finance-savvy alternatives to consider for the effective utilization of your annual bonus.
1. Invest your Christmas Bonus
Getting that skip in your heartbeat when you receive your Christmas bonus is a feeling like no other.
However, the real magic happens when you decide to invest this bonus, making it grow over time instead of spending it all at once.
Here are the top four ways to invest your Christmas bonus:
Wealth Creation: When you invest your bonus, you’re setting yourself up for future wealth. Learn how to invest 10k.
Earn Additional Income: Use your bonus as a kick-start to a side hustle. Many Americans already secure supplemental income this way. In fact, many people are interested in how to make money online for beginners.
Professional Growth: Investing your bonus into professional development is another smart move. Enrolling in online courses that build your technical skills or lead to certifications can enhance your earning potential. Learn to invest 100 to make 1000 a day.
Financial Security: Finally, investing your bonus helps to secure your financial future. Whether it’s putting money into retirement funds or investing in a high-yield savings account, every bit helps set you up for stability and freedom. This sets you up to become financially independent.
Your Christmas bonus could be the first step towards a future of financial growth and security.
2. Consider your financial needs for the coming year
Before you rush to spend your holiday bonus, consider your financial needs for the coming year.
Start by:
Assessing your monthly expenses. How much do you need for essentials like housing, utilities, and food? Compare with the ideal household budget percentages.
Evaluating your emergency fund. Remember, experts recommend at least $1000 in an emergency fund. Plus having three to six months’ worth of expenses stored away in a rainy day fund.
Big expenses coming your way: Do you have any costly expenses like home repairs or car replacement in your future?
You may want to set aside money for those future needs, so you will be financially stable when they happen.
3. Pay Off Bills
Don’t run to the stores before analyzing your debt.
If you have high-interest loans or credit card debt, prioritize paying these down. Our expert tip at Money Bliss is to tackle the highest interest debt first.
Use your bonus to pay off debts: Since a bonus is usually an unexpected sum of money not factored into your annual budget or salary, you can make significant headway in paying off your debts, particularly those with high-interest rates.
Save on interest charges by reducing debt: The bonus can help reduce your debt balance, leading to less interest accruing over time. This move could save you hundreds, even thousands, over the long term.
Consider debt management apps: Apps like UndebtIt help you find a debt free date. Platforms like Tally† can simplify your debt payoff journey with automated payments using a lower-interest line of credit.
Reconsider splurging your holiday bonus: Rather than spending it all on that coveted item or trip, you might want to consider other financially beneficial options.
4. Buy Christmas Gifts
Utilizing your holiday bonus wisely to purchase Christmas gifts can be a smart and rewarding way to use your end-of-year windfall.
Instead of splurging on high-cost items, consider thinking through your holiday gift list and budgeting accordingly.
Bear in mind that enjoying the holiday season doesn’t have to break the bank; as Christmas on a budget is possible.
Don’t forget to spoil yourself with a gift every now and then. You’ve worked hard for this bonus and deserve a treat too.
5. Splurge on Fun Things
It’s absolutely okay to treat yourself with a holiday bonus – after all, you’ve earned it! Using it wisely can add a dash of fun and pure enjoyment to your life.
Now, what do I want for Christmas?
Here are a few fun ways to splurge your holiday bonus:
Dream vacation: The bonus could be your ticket to the vacation you’ve been fantasizing about. Plan carefully to make the most out of it.
Invest in hobby: Whether it’s photography, painting, or gardening, investing in a hobby can prove to be quite rewarding.
Spoil yourself: Get that TV you’ve been eyeing or make a down payment for that new car you fancy.
Remember, pleasure is a great aspect of well-being. So, it’s great to treat yourself once in a while. Just balance it with other financial responsibilities.
6. Invest in Long-Term Goals
Ditch the instant gratification of spending your holiday bonus all at once. Instead, consider investing it towards long-term goals for an even greater payoff.
Here are some easy steps to set you on the right path:
Identify your long-term financial goals. Be it a dream home, kids’ education, or retirement, a clear goal will help you stay motivated.
Assess your current financial situation to gauge how much of the bonus you can invest.
Choose the right investment vehicle. Stocks, bonds, or real estate can be profitable, depending on your risk appetite and time horizon.
Remember, spending wisely today makes for a secure tomorrow.
7. Give Back to the Community
Giving back to your community during the holiday season is a fantastic way to share your fortunes. Not only does it bring joy to those in need, it fosters appreciation, empathy, and understanding.
Here are some thoughtful ways to use your holiday bonus:
Donate to a Local Charity: Identify a local charity that resonates with your values. Every donation counts and your contribution could make a substantial impact.
Sponsor a Family’s Holiday: Many organizations connect sponsors with families in need. Your bonus could help provide them with essential groceries, clothes, toys, and a memorable holiday experience.
Contribute to a Fundraiser: Participate in your community or workplace fundraisers. Your financial support could contribute towards a noble cause, be it medical aid, education, or relief work.
Volunteer Your Time and Skills: Although not a direct use of your bonus, volunteering can be another way to give back. Maybe your bonus might allow you some additional free time to offer.
Remember, volunteering often reflects individual happiness and improves overall well-being.
Do You Expect the Average Christmas Bonus?
Remember, Christmas bonuses can be diversified: from additional checks or sums of money to extra vacation days or tangible gifts.
Everyone always wants a Christmas bonus! So now, you can determine if yours is above or below the average Christmas Bonus!
Based on research, less than a quarter of employers offer a performance-based holiday bonus, so if you’re fortunate enough to receive one, consider investing it to reap greater returns in the future.
The best decision depends on your unique financial situation, so use the above tips to make a smart choice with your bonus money.
Know someone else that needs this, too? Then, please share!!
Source” class=”uk-display-block uk-position-relative uk-visible-toggle”> click to enlarge
Karrie Trowbridge, the owner of Lark Mountain Modern, had never owned or worked in a home décor shop when she decided to purchase Lark from its original owners.
Lark opened in January of 2020 and soon after that, was forced to shut down due to the pandemic. The team decided to weather the storm by turning to online operations, creating a business that offered in-store pickup. As soon as the online store went live, customers went crazy, said store manager Liz Odell.
(Editor’s note: This story has been updated from the print edition to reflect that Trowbridge purchased the store from its original owners. We regret the errors).
Lark carries specialty home décor as well as furniture, soft goods like table linens and napkins, jewelry and gifts. According to Odell, the retail store attempts to source as many local and women-owned goods as they can.
In addition to the variety of items in the store, Odell mentioned that the prices range greatly as well. Shoppers can find décor and gifts for under $10.
From left: Lori White, Joann Wolpert and Liz Odell.
Julianna LaFollette” class=”uk-display-block uk-position-relative uk-visible-toggle”> click to enlarge
Julianna LaFollette
From left: Lori White, Joann Wolpert and Liz Odell.
“Anybody can come in and get something,” Odell said. The selection of upscale and carefully picked décor is something that Odell believes makes the store stand out. The location isn’t so bad either; on NW Wall Street in Bend. The downtown building that home décor shop sits in has housed several businesses before them. It was a men’s clothing store, a home goods store and, right before Lark, a record store.
Shoppers can find a variety of goods at Lark.
Julianna LaFollette” class=”uk-display-block uk-position-relative uk-visible-toggle”> click to enlarge
Julianna LaFollette
Shoppers can find a variety of goods at Lark.
Odell and Trowbridge have been Bend locals for many years and believe the “mountain modern” décor fits Bend perfectly. “We know what Bend is. . . we love our customers and we love talking to them,” said Odell. The staff hopes that Lark is a place where people come in and feel a sense of happiness and beauty.
Often, the unexpected and untimely death of a beloved celebrity to make us pause and reflect on the fragility of life. Over the years, many A-list celebrities have tragically died before their time—leaving us reeling with shock and sadness over their sudden departure from this world. From Whitney Houston’s unexpected overdose to Paul Walker’s tragic car accident, here’s a look back at twenty A-celebrities’ deaths that saddened people around the globe.
1. Lance Reddick
One user posted, “Lance Reddick. A friend talked me into seeing John Wick 4, and I really loved everything Lance had been in and was excited to go. Then he just passed away, which really saddened me as it was so unexpected.”
Another user commented, “RIP Commander.”
One user added, “Lance Reddick was shocking. He was someone I was always delighted to see when he would pop up in anything.”
2. Jim Henson
“Jim Henson, too early and such a source of joy to so many,” one user posted.
Another replied, “Yes. Whenever I go to Hollywood Studios at Walt Disney World, I have to go to the Muppets 3D movie; it was the last thing he did as Kermit. It makes me sad that he died before the paperwork with Disney was complete, and because of that, a lot of the plans for the muppets at that park never happened. Watch his funeral on PBS; it’s one of the best celebrations of a human’s life you can see.”
3. Mr. Rogers
One Redditor shared, “Mr. Rogers.”
Another user replied, “It was pouring rain that morning, and I’d stopped to grab breakfast before a looming nightmare commute to work. Right as I was about to pull the key out of the ignition, I heard them say on the radio that he’d passed and just sat there in my car, sobbing.
“I met him in 1983 when he came to my elementary school with the Purple Panda, and for a 4-year-old, it was like meeting Jesus. I was so overcome I just blurted out ‘You’re my best friend!’ he smiled and said ‘I’m so glad that we’re friends.’ We didn’t deserve Fred Rogers.”
Another commenter shared his story, “My parents were mildly abusive. It was only because of Mr. Rogers that I knew something was wrong in my household. The amount of love he shared with people on the other side of the TV was awe-inspiring. I think if someone tried to do that today, they’d come off as insincere or a try-hard.”
4. Steve Irwin
“Steve Irwin. Sean Lock and Shane Warne were a big kick in the balls as well,” one user commented.
Another user responded, “Steve Irwin is the first celebrity death that I remember happening. Sometimes I wonder what he’d be up to if he were still alive today.”
One added, “I imagine that if he had survived the stingray attack, he’d be back swimming with a school of stingrays in the next show. To show that there is nothing to fear and that the stingray that hit him didn’t really mean to do it. Then he would explain how they defend themselves, and he’d kiss a ray at the end of the show and call it his ‘little mate’ before releasing it.”
5. Alan Rickman
One user posted, “Alan Rickman.”
Another user replied, “My first movie intro to him was the Sheriff of Nottingham in Robin Hood Prince of Thieves, and I still threaten to take someone’s heart out with a spoon. Gods rest his soul.”
One commenter quoted, “But why a spoon, cousin?”
6. Anton Yelchin
One user shared, “Anton Yelchin.”
Another user replied, “Dude had cystic fibrosis. And that isn’t even what killed him.”
One commented, “Yes, I will say the same thing. That one really haunts me; it seemed so awful and so random.”
Another Redditor shared. “He’s my go-to for this question. Poor guy had the whole world in front of him. He was in great movies (hell, even his voice work in Trollhunters was great), and the way he went is just so random and awful. Not to say other deaths aren’t tragic, but I think he was more so when compared to the natural death of someone 99 years old, or a drug-related death of someone or someone taking their own life.”
7. Heath Ledger
“Heath Ledger,” one user added.
Another user shared, “In 8th grade English class, we read Taming of the Shrew, and then the teacher let us watch 10 Things I Hate About You to show us how his works still impact writing today. So I had JUST discovered Heath and had a massive crush on him when he passed away less than a year later. It was the first celebrity death that really impacted me.”
8. John Ritter
One user shared, “John Ritter.”
Another user commented, “John Ritter is the only celebrity death that I’ve ever cried about. It was so sudden and unexpected, and he seemed so nice. I cried all throughout the episode of 8 Simple Rules, where they showed his TV family grieving his loss.”
9. Chris Cornell
“Chris Cornell. So talented; gone too soon and died so tragically,” one Redditor added.
Another commenter added, “I saw him and Chester Bennington together in 2007. Hell of a show. They’re the reason I never hesitate to say yes to a concert now.”
10. Grant Imahara
One user shared, “Grant Imahara was instantly my answer. Almost a perfect guy.”
Another added, “I’ve already said this on some long distant thread discussing Grant’s passing, but the difference in my feelings with Grant and Jesse is that Jesse was doing something she loved when an accident took her away. (She was killed in an accident trying to break a land-speed record) So I’m sure she knew about the risks of the things she was doing, and I’m sure she would’ve been okay if that was how she went out.
“So I’m more heartbroken over Grant because his passing was literally out of nowhere when he told his wife he wasn’t feeling well, went to bed and never woke up the next day.”
11. Terry Pratchett
“Sir Terry Pratchett. He and his works both made the world a better, more interesting place,” one user shared.
Another user added, “Terry Pratchett is and always will be my favourite author. He could make me laugh and cry in the same sentence. Even now, years later, when I reread his books, I find references or subtleties I missed the last time.
“He died towards the end of my pregnancy with my youngest. It was a horrible, very traumatic pregnancy and a very dark time for me. His death made it worse, especially as his books always brought comfort.
“It has been several years since then, and I still cannot bring myself to read the last book as I am still not ready for it to be over.”
Another user added, “This is the only celebrity death that ever made me cry. Then again, on reading The Shepherd’s Crown. Terry’s work has made me a better person and instilled concepts of justice and inclusion and compassion and protest, and diversity. The Discworld stories will always be my comfort and safe space. The world lost one of its best people the day he died.”
12. Chris Farley
One user shared, “Chris Farley. Nothing like crying in front of your Christmas tree.”
Another Redditor replied, “I watched Chris Rock talk about his death on the Howard Stern Show (from like 15 years ago or something). He talked about how frustrating the inevitability of it felt. He said that the people that he was really mad at and would never forgive were the people who kept him ‘just sober enough’ to keep making their money. You know, producers and people like that. Those [jerks]. They’d acknowledge the seriousness of his addictions/other issues by stickin’ him in rehab, then act like he was cured 30 days later and throw him back into some production until he’d inevitably relapse. The process would start again.”
13. Anthony Bourdain
“Anthony Bourdain. I miss his snarky attitude,” one user posted.
Another user replied, “I think it hit me because as a pessimistic sort of generally melancholy sorta person. I saw within him a kindred spirit with similar tastes and hobbies etc… Seeing someone who kind of has an idealized version of a life I’d want and that they couldn’t handle and make it out of here, so to speak… it kind of dampens the morale a bit when it comes to your own chances of finding peace and happiness.”
Another user replied, “It’s hard rewatching all his stuff now. Some of the things that he said really made me sit up and think to myself that we all missed the signs and taught me to listen to people more carefully.”
14. Leonard Nimoy
One user mentioned, “Leonard Nimoy.”
Another user replied, “I was looking for his name! I have only recently started watching Star Trek at the request of my boyfriend, and Spock immediately became my favourite character! I looked him up on Google one day and found out he had been dead for the past 8 years!”
15. Cameron Boyce
“Cameron Boyce. So young,” one Redditor exclaimed.
Another replied, “This one upset me a lot. He was not on everyone’s radar because he was a Disney kid—definitely a shock when it happened. I’m older, but my kids are at an age where we spent a ton of time watching Jessie and those Descendant movies. Basically watched that kid grow up. He was ridiculously talented. Had comedic timing down. They could dance crazily well. And he just seemed like an all-around good human being. They didn’t deserve to go that young. So unfair.”
16. Brittany Murphy
One user commented, “Brittany Murphy.”
Another user replied, “The documentary put out on her made it seem so preventable. Her story truly hurt my heart. Looking at this post, I see a lot of names that make me think the same.
“It really makes me think about how so many stars are used and manipulated for their worth, with no regard given to their personal health. If 1 or 2 strong friends or family members had stepped up and said/done something, we’d still have some of these people. RIP.
“Edit: The doc name is “What Happened, Brittany Murphy?”
17. James Gandolfini
One user shared, “James Gandolfini was an immense talent, and people often forget how The Sopranos changed the entire landscape of television. His acting helped usher in a Golden Age of television that’s still going strong to this day.”
Another user replied, “I binged all of The Sopranos a couple years ago and then googled to see what James Gandolfini was up to recently. Was absolutely gutted to find out he died.”
One user added, “If you haven’t already watched it, check out The Night Of. It was Gandolfini’s final passion project; I think he had just finished filming the pilot when he died. John Turturro took over his role as the public defence attorney for Riz Ahmed’s character, who was accused of murder and being held without bond at Riker’s.”
18. Chester Bennington
“Chester Bennington,” mentioned one user.
Another user replied, “Losing Chris Cornell and Chester quickly, and the context of their friendship was/is truly devastating.”
One Redditor added, “For those that didn’t know, Chester committed suicide on Chris’s birthday, 2 months after Chris himself committed suicide. Truly heartbreaking.”
19. Carrie Fisher
One user posted, “Carrie Fisher.”
Another user replied, “Followed immediately by Debbie Reynolds. I felt so bad for Billie Lourd.”
One user commented, “The way people talked about her, it was like she lit up every room she was in. I hate the fact that she isn’t revered the way someone like Robin Williams is because I think she had just as much charisma and charm as he did.”
Another user responded, “I met her at a Comic-Con right before she died. She was still so beautiful, funny and classy. I was heartbroken when I heard she died.”
20. Naya Rivera
One Redditor mentioned the late Glee, “Naya Rivera. Not her fan, but the way she died was really tragic. Thinking of her child left alone on that boat for hours looking for his mama hurts my chest.”
One user replied, “God, yes. I was a fan, but the worst part wasn’t even because I was her fan. It was imagining her realizing the water was too strong and panicking, doing everything she could to get her kid to safety. It must’ve been terrifying and so painful for her in those last moments, being scared and thinking her kid would be alone or looking for her. God, this family deserved so much better.”
Another user added, “I’m sorry. From what I know, she had a generous, very vibrant personality. It’s still difficult to think about her last moments, so I try not to dwell on all of it too much. It was truly tragic, and she was still so young to go so early. Rip Naya.”
Do you agree with the actors’ names listed above? Share your thoughts!
Source: Reddit.
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Pigs might fly before you’re allowed to have one as a pet.
Let us guess: you saw that new Nicholas Cage movie, “Pig,” and were so charmed by the close relationship Cage’s character had with his beloved truffle pig that you want one of your own. Or, you love “Charlotte’s Web” and “Babe.” But hold your horses, or rather pigs, for a minute.
Yes, pigs are nice animals. They’re highly intelligent, social and friendly. You can also house train them and walk them on a leash. And yes, they’re extremely cute. Because of these attributes, unprepared owners can assume having a pig as a pet is a piece of cake. But there are a lot of different factors to consider when keeping a pig as a pet, especially for apartment renters.
Compared to traditional pets like dogs and cats, pigs are a whole other animal, literally. In some cases, pigs may not even legally be allowed in apartments. Here are some reasons pigs may not make the best pets for apartment dwellers.
Are pigs allowed in apartments?
The short answer is yes and no. Whether or not your apartment allows pigs varies, depending on factors like local laws and your landlord’s rules.
Pigs fall under the category of non-traditional pets. Animals like dogs and cats are traditional because they’ve been bred for domestic living. Non-traditional pets include rodents like guinea pigs, ferrets, reptiles and birds.
1. Your landlord and lease may not allow it
Since pigs are not traditional pets, many landlords won’t allow them as pets. If they do, they’ll likely have very specific conditions attached to protect their property from damage. Check your lease or ask your landlord directly.
While you could try to sneak in and hide a small pig, the potential for discovery and a nasty altercation with your landlord is too high. You could face eviction, higher fees and other penalties. So, always seek permission for having a pet pig in writing or submit a pet resume when applying so the landlord is aware.
Even if you’re allowed pigs in your apartment, here are some things to consider.
2. It might be illegal in your city or municipality
Your landlord isn’t the only obstacle to having a pet pig in your apartment. Many cities and municipalities have laws against keeping farm animals within city limits. If you can have one, you’ll need to follow very specific regulations and rules. Always research your local laws before purchasing a pet pig. Otherwise, you might need to re-home them or move out of the city.
3. They can get too big
If you’re considering getting a pig as a pet, you’ve likely heard of the terms teacup pig or miniature pig. Because of their small size, you think these would be the perfect option for a pet pig. But a teacup pig is not an actual species.
Some of the most popular smaller pig breeds that could make suitable pets include the Vietnamese potbelly pig and Kunekune pigs. But even these can get pretty big, growing bigger than cats and dogs and weighing anywhere between 50 pounds to well over 100 pounds.
There’s also the chance you’ll purchase a small pig thinking it’s already reached full size. But then, it continues to grow and becomes a full-size farm pig. Then, you have a full-size problem.
4. They’re expensive
Purchase costs. Special vet bills. Pig feed. Housing supplies. Any license fees. Granted, there are costs associated with having any pet. But pigs can still run up a hefty bill between all the above and more. This is especially true of porcine-specific health issues like skin disorders. Talk about a piggy bank.
5. They live a really long time
Although everyone hopes their beloved pet lives as long as possible, you may sign up for longer than expected with a pet pig. Wild pigs usually only live a few years or up to a decade, depending on predators and the environment. But with shelter, food and safety, pet pigs can live anywhere from 15 to 20 years. Just like with any pet, getting a pet pig is a commitment for life. They can also be very difficult to re-home, so really consider the consequences of surrendering one.
6. They might not get along with your other pets
While pigs are very friendly and social, they don’t always mix well with your other pets of different species. Dogs, in particular, are a problem. Both dogs and pigs are aggressive toward each other over food and territory.
7. They require special care and attention
Pet pigs need special care to stay healthy and happy. They need to get regular exercise, with either multiple daily walks or a secure, well-fenced outdoor area to play in. That outdoor area needs clean shelter areas to prevent your pig from exposure to too much sun or cold.
Regular visits to a specialized vet are a must. If you’re not home with them a lot, they’ll likely require a companion. They need a special, well-balanced diet, not slop or leftovers. This is just a beginner’s summary, so unless you have the time, energy and money to give a pet pig the specific care they need, it’s best not to get one.
8. They can get destructive
There’s a reason pigs find truffles, as you saw in the movie “Pig.” They love to root around, dig and get into things. So, if you don’t offer plenty of outdoor space to exercise and play, enrichment and other factors to keep them occupied and entertained, those natural tendencies and wild animal habits could get destructive fast.
They can knock things over, tear up the carpet and flooring, rip furniture and much more. Easily startled and scared by loud noises or disturbances, a frightened pig can panic, running around your apartment destroying things. Living with a pet pig in an apartment, you can quickly understand the meaning of the word pigsty.
9. You may need to pay extra security deposits
Those wild habits leave a high potential for lots of damage to an apartment. If your landlord does allow pigs, they may require a much higher security deposit or pet deposit as collateral. So, your move-in fees would be even higher than usual.
10. You’ll have to pay for repairs
If your pet pig does end up doing damage, it’s not just your security deposit that you’ll lose. You’ll likely have to pay out-of-pocket for repairs. Depending on the damage, this could be hundreds to thousands of dollars.
This is why it’s also important to take dated photos of your apartment before move-in. That way, you won’t have to pay for any pre-existing damages your pig didn’t cause.
11. They can create a lot of noise
When scared, pigs also squeal and scream very loudly. Even in an apartment complex with good soundproofing, your neighbors are bound to hear an upset pig. Mad neighbors and complaints about loud noises, which could even lead to the police or legal intervention, are another reason not to keep a pig in an apartment.
12. They can smell
Pigs themselves don’t smell. It’s their manure that gives people the idea that pigs are smelly on their own. While you can keep your pig clean with regular bathing and grooming, their waste is another matter. You can house-train them, but the place where they do their business will still smell strong. And accidents happen, so they may leave a large, smelly surprise on the floor. In an apartment complex, those smells can go through walls and linger unless you use top-quality cleaners and odor eliminators.
Other types of animals to consider for an apartment pet
Whether it’s not allowed or you’ve decided it’s not the best option for you, you’re not getting a pig as a pet for your apartment. Luckily, there are many other animals that can make great apartment pets. If you wanted to get a pig because of its friendliness and sociability, you can get a dog instead. Many cat breeds are also very friendly and social.
If you really want an alternative, non-traditional pet, there are many different routes. Rodents like hamsters, guinea pigs and gerbils are very sweet, snuggly and easy to care for. Rabbits can also be wonderful companions. If you’re willing and able to put in the time and energy for proper care, more high-maintenance pets like reptiles or birds are also an option.
Living in an apartment with a pet pig isn’t as happy as a pig in clover
Even if your apartment allows pigs, they’re not the best choice in pets. While you’re in love with the idea, their happiness and quality of life matter above all else. So, if you can’t provide the best care and home for them and give them what they need, it’s better to either shelve that dream or start looking for places to live out in the countryside.
Zoe Baillargeon is an award-winning writer and journalist based in Portland, Oregon, where she covers a variety of beats including travel, food and drink, lifestyle and culture for outlets like Apartment Guide, Rent., AFAR.com, Fodor’s, The Manual, Matador Network and more. In her free time, she enjoys traveling, hiking, reading and spoiling her cat.