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Kacie Goff
Mortgage Expert
Kacie is a freelance contributor to Newsweek’s personal finance team. Over the last decade, she’s honed her expertise in the personal finance space writing for publications like CNET, Bankrate, MSN, The Simple Dollar, Yahoo, accountants, insurance agencies and real estate brokerages. She founded and runs her marketing content and copywriting agency, Jot Content, from her home in Ventura, California.
Last April, when Bed Bath & Beyond held its store-closing sales after declaring bankruptcy, I popped into one of its Manhattan locations and found the shelves almost completely stripped of inventory, snagged by earlier shoppers who’d been quicker to the liquidation bargains. Dwell’s senior home guides editor Megan’s experience at another Manhattan location, though, seemed slightly less chaotic, and even in small but not insignificant ways gratifying. So last week, when Dwell’s managing editor Jack Balderrama Morley dropped a tweet in a team Slack channel pointing out the “crazy sales” at another major retailer, Joann, which on March 18 announced it filed for bankruptcy, and said: “Maybe a writer wants to go and see what home design can be pulled out of a dying store?” I bravely volunteered. Most of the online reactions I’d seen to Joann’s bankruptcy were more focused on corporate details than implications for crafters, but I assumed the news would circulate widely enough in at least some corners of TikTok’s DIY universe that the sales would generate a fairly quick clean out.
To be clear, my putting myself forward is only notable because from where I live in Manhattan, a trip to the craft store—or any department store, really—is a vastly different experience than in the suburbs. The Hudson, Ohio-based chain, which has operated for more than 80 years, has roughly 800 stores nationwide (all of which the company said will continue to operate as it restructures its finances). But none of those stores are in Manhattan, or even Brooklyn. Long Island has three locations, and there’s one in Scarsdale, about an hour’s drive north of my apartment (closer to Connecticut in actuality). Across the Hudson, there’s a Joann store in Paramus, New Jersey. Depending on the time of day, the drive is anywhere between 30 and 50 minutes.
My girlfriend and I have a Zipcar membership that we use almost solely for the purpose of completing another task that’s a vastly different experience when you live in New York City: grocery shopping. Every other month or so, we go to a Trader Joe’s outside of the city to stock up on groceries that we can drive home, not carry. We were due for another Big Shop and had also been talking about crafting over the weekend, since the forecast was gross and rainy. In Paramus, there’s a Trader Joe’s all but three minutes from Joann. So Paramus it was. We were making a Saturday of it.
The arts-and-crafts store, formerly known as Jo-Ann Fabrics, was a big part of my childhood. (Full disclosure: I was blissfully unaware of the 2018 rebrand and had been using the former moniker up until I learned about the recent bankruptcy filing, and am still having a tough time adjusting to the name change, in true millennial fashion.) In the early 2000s, the Jo(-)ann (Fabrics)(!) on the side of Highway 101 in Corte Madera, California, was where I bought fabric for weekly sewing classes with Winky Cherry (I’m serious), a kids’ sewing teacher and author, I’m just learning, who taught out of a downstairs room in her home. It’s where I found felt and appliqués for the DIY poodle skirts I wore to school sock hops. It’s also where I found the fabric, pom-poms, and ribbons I tasked my adult neighbor, whose children I babysat, with fashioning into a jester costume for me one Halloween; one side had blue fabric with a moon pattern, the other a maroon background with suns. There were elastic cinches at the wrists and ankles that created frilly cuffs. In retrospect, it was quite a vision for my young mind to conceive of, but stylistically…misguided.
Before last weekend, I hadn’t been back to one of the stores since that time in my childhood. One of Joann’s competitors, Michael’s, has locations in Brooklyn and Manhattan, and I sadly did not retain any sewing skills from Winky Cherry’s classes, so these days the selection there or at Blick Art Materials—of which there are many in New York City—does the trick for my occasional craft projects. I was expecting the scene to be somewhat depressing: sparse aisles stocked with the same art supplies you can now order to your front door on Amazon, piles of worse for wear fabric collecting dust, and nary a shopper born after the turn of the millennium (and that’s being generous). The latter, from my observation, was true, but other parts surprised me.
The clearance sale shelves at the front of the store, marked 25 percent off, were haphazardly stocked as though either winds of eager customers had already blown through them, spoiling any prior display order, or the employees had simply gathered items from other aisles—a partially unwound yarn bundle, decorative stickers, children’s trinkets, and, unexplainably, a pack of popcorn seasoning, and quickly dumped them in this section, knowing any real organization efforts wouldn’t be worth their while.
We set ourselves a $200 budget, keeping in mind a few DIY projects we discussed prior, and knowing that we like to keep a stock of craft supplies for impromptu projects, so this sale would be as good a time as ever to spend somewhat freely. First, we popped over to the bead aisles to scope out the four for $10 deals. We picked 15 bead strands—with between 10 to 40 beads per set, depending—and a roll of clear cord (for later necklace-making projects). We also grabbed a small organizer to keep the beads in; not on sale, but something we felt necessary, and reasonable for $4.50. The next aisles had some of the biggest steals we encountered: 10 for $5 on two-ounce acrylic paints, 50 to 70 percent off fine art canvases, and 25 percent off other art supplies, from paint brushes to sets of paint, pens, and colored pencils. We added a 10-pack of 8×10 canvases and two 5×5 canvases to our shopping cart, along with a 24-tube acrylic paint setand a few larger paint tubes, plus a can of black spray paint and some wooden semicircle cutouts for a DIY mirror project.
We walked toward the next part of the store we knew had something we wanted: fiber filling to revive our couch cushions, which we assumed we’d find near the fabric department. Between there and the robust yarn section, it felt, for a second, like we could be in any big box retailer of the home goods ilk. You could buy outdoor rugs, plant stands, picture frames, and storage containers just like what’s in stock at Target or Home Depot. In my memory, the Jo(-)ann (Fabrics)(!) of my youth was much less home decor-oriented.
Still, the crafts and sewing storage items were marked 50 percent off, so we grabbed three collapsible bins in the style of Hay’s recycled color crates for the space above our kitchen cabinets at $5.99 each. I also picked out an 11×14 black picture frame, with visions of repainting it with a two-tone trim using our new acrylics set. We grabbed two large bags of the fiber filling—40 percent off, $17.99 each—and at some point along the way picked up a five-pound bucket of air-dry clay, which ran us $6.99.
Every five or so aisles we’d pass another shopper, which, compared to the experience of shopping at most major retailers, is essentially like walking through a desert, but I’d imagined something much more vacant. I realized I was likely conflating my understanding of bankruptcy with the idea of returning to a forsaken mainstay from my childhood, so to see other customers at all made me feel like the place was sufficiently busy.
The general energy in the store, however, reminded me otherwise. At one point, I heard an exasperated yell from the next aisle, “Is it so hard for people to put things back where they fucking belong?!” I obviously had to check whose Public Display of Begrudge this was; when I walked past, there was only one woman, wearing a Joann apron and organizing inventory.
In the fabric section, we had to squeeze our cart past a plastic storage bin with wet floor signs on either side that was blocking most of the walkway in order to catch droplets from a ceiling leak. I saw another millennial-looking couple talking to a woman at the service counter and wondered what they were there for, feeling an instant sense of curiosity and camaraderie with the other shoppers visibly under 60. We thought about buying some fabric to fashion a small curtain/cabinet skirt to hide our eyesore kitchen trash area, but decided against it—mostly due to decision paralysis, but also because we weren’t sure anything from the fabric selection would even really improve the situation. (As a kid, the actual quality of Jo-Ann’s Fabrics was not something I noticed, apparently.)
At checkout, the sweet (older) cashier winced as our balance climbed and offered to add an extra coupon that was typically only available online to bring our total down. It seemed like she hadn’t rung up a $184.17 tab for anyone in a long time.
Our first DIY project was the easiest: we added the stuffing to our couch cushions, which have formed light indents in various spots because of my bad habit of WFH…from the couch. Then, we took some of the beads and Gorilla Glued them to a glass vase we already own. I painted the black picture frame with two blue acrylics and put a Really Bad Portrait of us from the Upper West Side flea market in it. (I’m still battling my partner to let us hang it up in the bedroom.)
Next, we spray-painted the wooden semicircles black and Gorilla Glued them to the side of our Ikea Hovet mirror, inspired by furniture we saw at Originario on a recent trip to Mexico City. (We still have enough left to do the same with another black mirror in our dining room.) We used some of the quick-dry clay to make a small, foot-shaped catchall—again, inspired by ceramics we saw in Mexico City. We’re still deciding on what to paint on the canvases, but now we have the supplies at the ready for when inspiration strikes. In fact, we’ve barely scratched the surface of what we bought on our haul, so that trip will last us many more DIY projects. And, should the clearance sales continue and we decide we want more bead deals or actually do want to give that cabinet skirt a try, our receipt has a promo code that can be used on Joann’s website, so we won’t have to brave another visit.
Related Reading:
Retrain Your Brain and Repurpose Your Furniture
I’ll Never Make Another Decor Decision Without a Mood Board
In the March rate update, we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. The “expected rate” is unique to reverse mortgages and is calculated by adding the lender’s margin to the weekly average 10-year constant maturity treasury (CMT). This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity).
For such a critical number, little has been written about the expected rate and its impact on HECM loans. In this month’s update, we’ll discuss two features you may not know about expected rates.
HUD publishes tables using expected rates in 1/8% increments
Because U.S. Department of Housing and Urban Development (HUD) look-up tables are published using expected rates in 1/8% increments (6.625%, 6.75%, 6.875%, etc.), we must use the nearest 1/8th percent (0.125%).
For example, a 2.50% lender margin combined with last week’s 10-year CMT average (4.22%) would produce an expected rate of 6.72% today. When looking up the borrower’s principal limit factor, we would use 6.75%. Here are sample lender margins and expected rates for the period from Apr. 2 to Apr. 8, 2024.
Because we use the nearest 1/8%, HECM proposals often don’t change from week to week unless the 10-year CMT moves enough to push expected rates beyond a rounding threshold.
Higher or lower expected rates impact principal limits
Higher expected rates reduce borrowing capacity, while lower expected rates increase borrowing capacity. So, it is understandable that HECM prospects want to know how unlocked expected rates could impact their principal limit.
We cannot determine the precise percentage until we know both the relevant age and the expected rate. Depending on those two factors, the impact could be 0.4% to 0.9% of a prospect’s home value. Nevertheless, the average impact of a 1/8% change in the expected rate is a little over 0.6%.
For example, a prospect with a $500,000 home could see their principal limit drop by an average of $3,000 (0.6%) from a 1/8% increase in expected rate. Conversely, their principal limit could increase by an average of $3,000 from a 1/8% decrease in the expected rate until that rate is locked.
April 2024 update
The 10-year CMT average dipped to 4.13% for one week in March, offering higher principal limits for new applications and some loans in processing. While the index rate in effect for April 2-8 is 9 basis points higher (4.22%), the 10-year CMT has been relatively flat since early February.
Example
With a 2.5% margin and resulting HECM expected rate of 6.72% (Effective 4/2/24 – 4/8/24), a 73-year-old homeowner with a $500,000 home appraisal for would qualify for 39.2% of the appraised value of the home. This equates to a principal limit of $196,000 as shown here:
Expected rate: 6.72%
Youngest age: 73
Home value: $500,000
Principal limit: $196,000
For updated principal limit calculations like this, a loan originator can use RapidReverse® (available on any Apple or Android mobile device) or use any HECM loan origination system of their choice.
Note: 2.5% lender margins are used for education purposes only. HUD expected rate look-up tables use the nearest 1/8% for calculating HECM principal limits.
This column does not necessarily reflect the opinion of Reverse Mortgage Daily and its owners.
To contact the author of this story: Dan Hultquist at [email protected]
To contact the editor responsible for this story: Chris Clow at [email protected]
One of the most critical moments in any race is the very beginning. A mistake at the start can snatch away a win before the race is even underway. Any coach will tell you that springing into action the moment the shot is fired is a critical success factor for any athlete.
A race is a useful analog for the mortgage business, especially as it relates to the refinance business.
Lenders in a purchase money market, like the one we’re in now, are running a long-distance race. Starting strong is less important for a deal that takes a long time to close.
Responding to the real estate agent’s or prospective borrower’s first call is the start of this race. Data show that returning that call within a few hours will get your race off to a good start. It’s amazing how many loan officers miss this, don’t return the call quickly, and lose their race before it’s even underway.
It’s the sprint that can really set lenders apart. In our business, that’s the refinance transaction.
Anticipating the start of the refi race
When mortgage rates finally rose above their historically low levels, the mortgage refinance business started to dry up. By the time rates reached 5%, the refi business was essentially gone.
This was a crisis for many large Independent mortgage banks that had created fine-tuned systems for refinancing loans and had virtually no trained sales force to prospect for new purchase money business.
The bankers who stockpiled cash they earned during the COVID crisis have weathered this storm, those that did not have the cash have either sold out or shut down.
Now, everyone is waiting for rates to drop and the refinance business to return. Most experts believe that it’s only a matter of time before mortgage rates come down. When they fall below 5% — maybe even before that — it will be a shot from a starter’s pistol and the race will be on.
The lenders who aren’t ready will falter under the pressure, stumble out of the starter’s blocks, and lose out to lenders who have prepared in advance for the influx of new business.
Leaders are preparing now to make sure they’re not the ones who are left in the dust when the race starts.
Preparing for the next mortgage market
What should lenders be doing now to be ready for the return of the refinance business? Those of us who have been in this business more than a cycle or two know what’s coming next. There is no secret or required magic to be a frontrunner when the refi business returns.
What it will take is strong leadership to spur lethargic institutions to action when it feels less risky to stay the course and wait. That’s an illusion, a false sense of security. The reality is this race will go to the prepared.
I can think of three important actions every lender should be taking now to be prepared for the next wave of refi business.
Build the right team
Given the new technologies and expert outsourcing options available to lenders today, staffing up to handle new business doesn’t make as much sense as it did in the past. Lenders have other options for building ability into their enterprises. That’s a good thing.
Instead of going to the expense and added risk of staffing up to handle more business, now is the time for executives to think through their strategic options and evaluate their existing partnerships. It doesn’t matter what the lender’s current capacity is, everyone should be thinking about this now.
This is the time to sit down with your A and B players and make sure they’re committed to the long term, and understand your commitment to them. The time to let your C and D players go has passed now. Do it if you haven’t.
Then, start visiting with outsourcing firms. I spent a good part of my career working for lenders who originated consumer direct but also provided essential origination outsourcing services to other institutions. When they’re done right, these partnerships offer a balanced model of operational efficiency and scalability, regardless of overall loan volume.
When this work is done, the lender will have a core team of domain experts supplemented by reliable outsourcing partnerships. This provides a buffer against fluctuating demand but also affords lenders a competitive edge in workforce flexibility and cost management.
Fine-tune your tech stack
Once your team is in place, it’s time to empower them with the right technology. For the past few years, I’ve been working inside one of the mortgage industry’s leading technology providers. Lenders have never before had access to such powerful technology.
There are too many factors involved in implementing a lender’s strategy to go too deeply into the technology here, but regardless of how the lender wants to run the business, there are tools available that can make that happen. Each lender is different and so their use of these tools will differ.
Two things I will say about technology. First, a simpler tech stack is a better tech stack. Improvements in the way developers bring products to market have resulted in a flood of new tools and many lenders have invested. Now, their tech stacks are bloated with functionality that doesn’t work well with their core systems and creates more friction. Simplify. Keep what you need and discard the rest. Don’t let the “sunk costs” fallacy keep you paying for technology that doesn’t help you become excellent lenders.
Second, if the tool doesn’t provide a measurable increase in efficiency by reducing touch points and overall cycle time, it’s not a good tool. When this work is done, the lender will have all of the technology required for its team to operate at peak efficiency, and nothing more.
Perfect your process
There’s an old adage in executive management that says you should tell your people what to do, but not necessarily how to do it. In many industries, this frees people up to be great team players and there are wins all around.
In industries where the government is just waiting for someone on your team or extended team to make a mistake, this doesn’t work as well. People need to know what the process is and how to perform it to the satisfaction of the lender, their investors and government regulators.
Lenders are pretty good at this in the back office, but when it comes to front-line salespeople they often leave them free to do what they do best. The problem with this is that good salespeople are often like water, they tend to follow the path of least resistance.
When refis are pouring in, they know where to go and who to contact (or recontact) to get more business. The hard work of building and maintaining relationships with business referral partners falls by the wayside.
Alternatively, when refis are down and purchase money is high, many loan officers don’t stay in contact with past borrowers as well because they know they’re not going to refinance a low-interest-rate loan. By the time the refis come back around, those past customers have made new friends.
The lender should take an active role in all processes the institution uses to do its work, including those in the sales department. When this work is done, every salesperson will be a top salesperson, doing the work required to bring in a steady stream of business, regardless of which loan products consumers are buying.
Today, the race is a long-distance, purchase-money event, where it takes seven or eight calls over the course of 30-45 days to reach the finish line. Soon, it will be all about refinance sprints that only take a call or two and as few as seven days to win.
To get ready for those races, leaders will begin now to pull their expert teams together, both internally and externally, fine-tune their tech stacks, and double-check their processes.
When that work is done, they’ll be in the starter’s blocks. When the pistol is fired, they’ll win the bulk of the new business.
Joseph Camerieri is a former mortgage lending executive, technology system sales leader and outsourcing leader. Today, he consults in the mortgage industry.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.
To contact the author of this story: Joseph Camerieri at [email protected]
To contact the editor of this story: Tracey Velt at [email protected]
Inside: Learn what 29 an hour is how much a year, month, and day. Plus tips to budget your money. Don’t miss the ways to increase your income.
You’re probably wondering if I made $29 a year, how much do I truly make? What will that add up to over the course of the year when working? Is $29 an hour good?
Is this wage something that I can actually live on? Or do I need to find ways that I can increase my hourly wage? How much more is $29.50 an hour annually?
When you finally start earning $29 an hour, you are happy with your progress as an hourly employee. Typically, this is when many hourly employees start to become salaried workers.
In this post, we’re going to detail exactly what $29 an hour is how much a year. Also, we are going to break it down to know how much is made per month, bi-weekly, per week, and daily.
That will help you immensely with how you spend your money. Because too many times the hard-earned cash is brought home, but there is no actual plan for how to spend that money.
By taking a step ahead and making a plan for the money, you are better able to decide how you want to live, make sure that you put your money goals first, and not just living paycheck to paycheck struggling to survive.
The ultimate goal with money success is to be wise with how you spend your money.
If that is something you want too, then keep reading. You are in the right place.
$29 an Hour is How Much a Year?
When we ran all of our numbers to figure out how much is $29 per hour is as an annual salary, we used the average working day of 40 hours a week.
40 hours x 52 weeks x $29 = $60,320
$60,320 is the gross annual salary with a $29 per hour wage.
As of June 2023, the average hourly wage is $33.58 (source).
Let’s Break Down Of 29 Dollars An Hour Is How Much A Year
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, multiply the hourly salary of $29 times 2,080 working hours, and the result is $60,320.
That number is the gross income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
That is slightly above the $60000 salary threshold, which is desired to become middle-income worker.
Work Part Time?
But you may think, oh wait, I’m only working part time. So if you’re working part time, the assumption is working 20 hours a week at $29 an hour.
Only 20 hours per week. Then, take 20 hours times 52 weeks and that equals 1,040 working hours. Then, multiply the hourly salary of $29 times 1,040 working hours, and the result is $30,160.
Just over $30000 a year.
How Much is $29 Per Month?
On average, the monthly amount would average $5,027.
Annual Amount of $60,320 ÷ 12 months = $5,027 per month
Just over $5000 a month.
Since some months have more days and fewer days like February, you can expect months with more days to have a bigger paycheck. Also, this can be heavily influenced by how often you are paid and on which days you get paid.
Plus by increasing your wage from $24 an hour, you average an extra $867 per month. So, yes a few more dollars an hour add up!
Work Part Time?
Only 20 hours per week. Then, the monthly amount would average $2,513.
How Much is $29 per Hour Per Week
This is a great number to know! How much do I make each week? When I roll out of bed and do my job, what can I expect to make at the end of the week?
Once again, the assumption is 40 hours worked.
40 hours x $29 = $1,160 per week.
Work Part Time?
Only 20 hours per week. Then, the weekly amount would be $580.
How Much is $29 per Hour Bi-Weekly
For this calculation, take the average weekly pay of $1,160 and double it.
$1,160 per week x 2 = $2,320
Also, the other way to calculate this is:
40 hours x 2 weeks x $29 an hour = $2,320
Work Part Time?
Only 20 hours per week. Then, the bi-weekly amount would be $1,160.
How Much is $29 Per Hour Per Day
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x $29 per hour = $232 per day.
If you work 10 hours a day for four days, then you would make $290 per day. (10 hours x $29 per hour)
Work Part Time?
Only 4 hours per day. Then, the daily amount would be $116.
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$29 Per Hour is…
$29 per Hour – Full Time
Total Income
Yearly Salary (52 weeks)
$60,320
Yearly Wage (50 weeks)
$58,000
Monthly Salary (173 hours)
$5,027
Weekly Wage (40 Hours)
$1,160
Bi-Weekly Wage (80 Hours)
$2,320
Daily Wage (8 Hours)
$232
Net Estimated Monthly Income
$3,834
**These are assumptions based on simple scenarios.
Paid Time Off Earning 29 Dollars an Hour
Does your employer offer paid time off?
As an hourly employee, you may or may not get paid time off.
So, here are the scenarios for both cases.
For general purposes, we are going to assume you work 40 hours per week over the course of the year.
Case # 1 – With Paid Time Off
Most hourly employees get two weeks of paid time off which is equivalent to 2 weeks of paid time off.
In this case, you would make $60,320 per year.
This is the same as the example above for an annual salary making $29 per hour.
Case #2 – No Paid Time Off
Unfortunately, not all employers offer paid time off to their hourly employees. While that is unfortunate, it is best to plan for less income.
Life happens. There will be times you need to take time off for numerous reasons – sick time, handling an emergency, or even vacation.
So, let’s assume you take 2 weeks off without paid time off.
That means you would only work 50 weeks of the year instead of all 52 weeks. Take 40 hours times 50 weeks and that equals 2,000 working hours. Then, multiply the hourly salary of $29 times 2,000 working hours, and the result is $58000 per year.
40 hours x 50 weeks x $29 = $58,000
You would average $232 per working day and nothing when you don’t work.
$29 an Hour is How Much a year After Taxes
Let’s be honest… Taxes can take up a big chunk of your paycheck. Thus, you need to know how taxes can affect your hourly wage.
Also, every single person’s tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
Gross Annual Salary: $60,320
Federal Taxes of 12%: $7,238
State Taxes of 4%: $2,413
Social Security and Medicare of 7.65%: $4,614
$29 an Hour per Year after Taxes: $46,054
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$46054 ÷ 2,080 hours = $22.14 per hour
After estimated taxes and FICA, you are netting $22.14 an hour. That is $6.86 an hour less than what you thought you were paid.
This is a very highlighted example and can vary greatly depending on your personal situation. Therefore, here is a great tool to help you figure out how much your net paycheck would be.
Plus budgeting for under $22 an hour wage is much different.
$29 An Hour Salary Calculator
Now, you get to figure out how much you make based on your hours worked or if you make a wage between $29.01-29.99.
This is super helpful if you make $29.15, $29.45, or $29.81.
Also, if you work various hours other than the standard 40 hours per week. You can adjust to your personal situation.
$29 an Hour Budget – Example
You are probably wondering can I live on my own making 29 dollars an hour? How much rent or mortgage payment can you afford on 29 an hour?
Using our Cents Plan Formula, this is the best-case scenario on how to budget your $29 per hour paycheck.
When using these percentages, it is best to use net income because taxes must be paid.
In this example, above we calculated that $29 an hour was $22.14 after taxes. That would average $3838 per month.
According to the Cents Plan Formula, here is the high-level view of a $29 per hour budget:
Basic Expenses of 50% = $1919
Save Money of 20% = $768
Give Money of 10% = $384
Fun Spending of 20% = $768
Debt of 0% = $0
Obviously, that is not doable for everyone. Even though you would expect your money to go further when you are making double the minimum wage. So, you have to be strategic in ways to decrease your basic expenses and debt. Then, it will allow you more money to save and fun spending.
To further break down an example budget of $29 per hour, then using the ideal household percentages is extremely helpful.
recommended budget percentages based on $29 per hour wage:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$402
Savings
15-25%
$1005
Housing
20-30%
$1,181
Utilities
4-7%
$176
Groceries
5-12%
$385
Clothing
1-4%
$20
Transportation
4-10%
$176
Medical
5-12%
$251
Life Insurance
1%
$15
Education
1-4%
$25
Personal
2-7%
$75
Recreation / Entertainment
3-8%
$126
Debts
0% – Goal
$0
Government Tax (including Income Taxes, Social Security & Medicare)
15-25%
$1,189
Total Gross Income
$5,027
**In this budget, prioritization was given to basic expenses.
Can I Live off $29 Per Hour?
At this $29 hourly wage, you are more than likely double the minimum wage. Things should be easy to live off this $29 hourly salary.
However, it is still slightly above the median income of over $60,000 salary. That means it can still be a tough situation.
Is it doable? Absolutely.
In fact, $29 an hour is higher than the median hourly wage of $19.33 (source). That seems backward, but typically salaried workers earn more per hour than hourly workers.
Can you truly live off $29 an hour annually?
You just have to have the desire to spend less than your income. Plus consistently save.
If you are constantly struggling to keep up with bills and expenses, then you need to break that constant cycle. It is possible to be smart with money.
Your mindset is everything.
This is what you say to yourself… Okay, I have aspirations and goals to increase how much I make. This is the time to start diversifying my income into multiple streams and start investing. I am going to stretch my 29 dollars per hour.
In the next section, we will dig into ways to increase your income, but for now, is it possible to live on $29 an hour?
Yes, you can do it, and as you can see it is possible with the sample budget of $29 per hour.
Living in a higher cost of living area would be more difficult. So, you may have to get a little creative. For example, you might have to have a roommate. Move to a lower cost of living area where rent is cheaper.
Also, you must evaluate your “fun spending” items. Many of those expenses are not mandatory and will break your budget. You can find plenty of free things to do without spending money.
5 Ways to Increase Your Hourly Wage
This right here is the most crucial section of this post.
You need to figure out ways to increase your hourly income because I’m going to tell you…you deserve more. You do a good job and your value is higher than what your employers pay you.
Even an increase of 50 cents to $29.50 will add up over the year. An increase to $30 an hour is a big milestone!
1. Ask for a Raise
The first thing to do is ask for a raise. Walk right in and ask for a raise because you never know what the answer will be until you ask.
If you want the best tips on how specifically to ask for a raise and what the average wage is for somebody doing your job, then check out this book. In this book, the author gives you the exact way to increase your income. The purchase is worth it or go down to the library and check that book out.
2. Look for A New Job
Another way to increase your hourly wage is to look for a new job. Maybe a completely new industry.
It might be a total change for you, but many times, if you want to change your financial situation, then that starts with a career change. Maybe you’re stressed out at work. Making $29 an hour is too much for you and you’re not able to enjoy life, maybe changing jobs and finding another job may increase your pay, but it will also increase your quality of life.
3. Find a New Career
Because of student loans, too many employees feel like they are stuck in the career field they chose. They feel sucked into the job that they don’t like or have the potential they thought it would.
For many years, I was in the same situation until I decided to do a complete career change. I am glad I did. I have the flexibility that I needed in my life to do what I wanted when I needed to do it. Plus I am able to enjoy my entrepreneurial spirit.
4. Find Alternative Ways to Make Money
In today’s society, you need to find ways to make more money. Period.
There is no way to get around it. You need to find additional income outside a traditional nine-to-five position or typical 40 hour a week job. You will reach a point where you are maxed on what you can make in your current position or title. There may be some advancement to move forward, but in many cases, there just is not much room for growth.
So, you need to find a side hustle – another way to make money.
Do something that you enjoy, turn your hobby into a way to make money, turn something that you naturally do, and help others into a service business. In today’s society, the sky is the limit on how you can earn a freelancing income.
Must Read: How to Make Quick Money in One Day: 50 Best Ways to Make Cash
5. Earn Passive Income
The last way to increase your hourly wage is to start earning passive income.
This can be from a variety of ways including the stock market, real estate, online courses, book sales, etc. This is where the differentiation between struggling financially and becoming financially sound.
By earning money passively, you are able to do the things that you enjoy doing and not be loaded down, with having a job that you need to work, and a place that you have to go to. And you still make money doing nothing.
Here is an example:
You can start a brokerage account and start trading stocks for $50. You need to learn and take the one and only investing class I recommend. Learn how the market works, watch videos, and practice in a simulator before you start using your own money.
One gentleman started with $5,000 in his trading account and now has well over $36,000 in 8 months. Just from practice and being consistent, he has learned that passive income is the way for him to increase his income and also not be a slave to his job.
Watch his inspiring story!
Tips to Live on $29 an Hour
In this last section, grasp these tips on how to live on a $29 an hour or just above $60k yearly salary. On our site, you can find lots of money saving tips to help stretch your income further.
Here are the most important tips to live on $29 an hour. More importantly stretch how much you make, in case you are in the “I don’t want to work anymore” mindset. Highlight these!
1. Spend Less Than you Make
First, you must learn to spend less than you make.
If not you will be caught in the debt cycle and that is not where you want to be. You will be consistently living paycheck to paycheck.
In order to break that dreadful cycle, it means your expenses must be less than your income.
And when I say income, it’s not the $29 an hour. As we talked about earlier in the post, there are taxes. The amount of taxes taken out of your paycheck is called your net income which is $29 an hour minus all the taxes, FICA, Social Security, and Medicare are taken out. That is your net income.
So, your net income has to be less than your gross income. Learn more on gross pay vs net pay.
2. Living Below Your Means
You need to be happy. And living on less can actually make you happier. Studies prove that less is better.
Finding contentment in life is one thing that is a struggle for most.
We are driven to want the new shiny toy, the thing next door, the stuff your friend or family member got. Our society has trained you that you need these things as well.
Have you ever taken a step back and looked at what you really need?
Once you are able to find contentment with life, then you are going to be set for the long term with your finances.
Here is our story on owning less stuff. We have been happier since.
3. Make Saving Money Fun
You need to make saving money fun. If you’re good, since you must keep your expenses low, you have to find ways to make your savings fun!
Find new ways of saving money and have fun with it.
Even better, get your family and kids involved in the challenge to save money. Tell them the reason why you are saving money and this is what you are doing.
Here are 101 things to do with no money. Free activities without costing you a dime. That is an amazing resource for you and you will never be bored.
And you will learn a lot of things in life you can do for free. Personally, some of the best ones are getting outside and enjoying some fresh air.
4. Make More Money
If you want if you do not settle for less, then find ways to make more money. If you want more out of life, then increase your income.
You need to be an advocate for yourself.
Find ways to make more money.
It could be a side hustle, a second job, asking for a raise, going to school to change careers, or picking up extra hours.
Whatever path you take, that’s fine. Just find ways to make more money. Period.
5. No State Taxes
Paying taxes is one option to increase what you take home in each paycheck.
These are the states that don’t pay state income taxes on wages:
Alaska
Florida
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming
It is very interesting if you take into account the amount of state taxes paid compared to a state with income taxes.
Also, if you live in one of the higher taxed states, then you may want to reconsider moving to a lower cost of living area. The higher taxes income tax states include California, Hawaii, New Jersey, Oregon, Minnesota, the District of Columbia, New York, Vermont, Iowa, and Wisconsin. These states tax income somewhere between 7.65% – 13.3%.
6. Stick to a Budget
You need to learn how to start a budget. We have tons of budgeting resources for you.
While creating a budget is great, you need to learn how to use one.
You do not have to budget down to every last penny.
You need to make sure your expenses are less than your income and that you are creating sinking funds for those irregular expenses.
Budget Help:
7. Pay Off Debt Quickly
The amount that you pay interest on debt is absolutely absurd.
Unfortunately, that is how many of these companies make their money from the interest you pay on debt.
If you are paying 5% to even 20-21% or higher, you need to find ways to lower that debt quickly.
Here’s a debt calculator to help you. Figure out your debt-free date.
Make that paying off debt fast is your target and main focus. I can tell you from personal experience, that it was not until we paid off our debt that we finally rounded the corner financially. Once our debt was paid off, we could finally be able to save money. Set money aside in separate bank accounts and pay for cash for things.
It took us working hard to pay off debt. We needed persistence and patience while we had setbacks in our debt-free journey.
Jobs that Pay $29 an Hour
You can find jobs that pay $29 per hour. Polish up that resume, cover letter, and interview skills.
Job Search Hint: Always send a written follow-up thank you note for your interview. That will help you get noticed and remembered.
First, look at the cities that require a minimum wage in their cities. That is the best place to start to find jobs that are going to pay higher than the federal minimum wage rate. Many of the cities are moving towards this model so, target and look for jobs in those areas.
Possible Ideas:
Virtual Assistant – Get free training NOW!
Freelance writer
Class A Truck Driver
Managers
Entry Level Marketing Jobs
Data Entry Clerks
Customer service managers
Bank tellers
Maintenance workers
Freight broker – Learn how easy it is to start!
Administrative assistants
Athletic Trainers
Event Planners
Day trader
Security guard
Movers
Cashiers
Warehouse workers
Companies that pay more than $29 per hour: Wells Fargo, Disney World, Disney Land, Bank of America, Cigna, Aetna, etc
$29 Per Hour Annual Salary
In this post, we detailed 29 an hour is how much a year. Plus all of the variables that can impact your net income. This is something that you can live off.
$60,320
That is making between $60000 a year and $62000 a year.
In this post, we highlighted ways to increase your income as well as tips for living off your wage.
Use the sample budget as a starting point with your expenses.
You will have to be savvy and wise with your hard-earned income. But, with a plan, anything is possible!
Still thinking I don’t want to work anymore, you aren’t alone and need to start to plan for your early retirement.
Learn exactly how much do I make per year…
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Napa is one of the lucky California cities to be synonymous with world-class wines. But there is a whole lot more to moving to Napa than the many exquisite vineyards. It’s a destination where history, innovation, and nature converge to create a unique experience for everyone.
From lifelong locals to those renting an apartment in Napa for a few months, the city invites all to explore its picturesque downtown, indulge in the local food, and unwind amid pristine nature.
Whether it’s through the architecture of its historic buildings or the innovative spirit of its winemakers, every square inch of Napa has a story to tell. Let’s delve into the specifics that make Napa an unforgettable city to explore and finally answer the question, what is Napa known for?
1. Napa Valley Wine Train
The Napa Valley Wine Train is not just a mode of transportation but a historical journey that takes you back in time. Traveling through Napa’s scenic landscapes in meticulously restored vintage railcars, guests are treated to fine dining and exquisite wine pairings. The train offers a variety of tours, including winery visits and murder mystery dinners, making it a unique experience for wine enthusiasts and history buffs.
2. Oxbow Public Market
Located in the heart of downtown Napa, the Oxbow Public Market is a foodie’s paradise. This bustling marketplace is full of local artisans and farmers offering a wide array of food and wine. From rare cheeses and fresh baked goods to gourmet coffee and craft beer, the market provides a taste of Napa’s local flavors in a lively setting.
3. Culinary Institute of America at Copia
The Culinary Institute of America at Copia brings the world of culinary arts to Napa. Offering cooking classes, wine tastings, and dining experiences, Copia is a playground for foodies. Visitors can deepen their culinary knowledge, explore the latest in food trends, and savor dishes prepared by chefs in training.
4. Castello di Amorosa
Castello di Amorosa is a testament to Napa’s mixture of history and winemaking excellence. This authentic 13th-century Tuscan castle winery offers tours of its grand architecture, sprawling vineyards, and dungeons. Wine tastings here are an immersive experience, allowing visitors to savor the castle’s award-winning wines in a setting straight out of medieval Italy.
5. Hess Collection Winery & Art Museum
The Hess Collection Winery & Art Museum merges the world of contemporary art with fine winemaking. Located atop Mount Veeder, this winery houses an impressive collection of modern art alongside its tasting rooms. Visitors can enjoy a unique experience of exploring art exhibits, followed by tastings of Hess’s acclaimed wines.
6. Napa Valley Opera House
The Napa Valley Opera House has been a cultural nucleus for live performances in the Napa area since the 19th century. Restored to its former glory, it now hosts a range of events, from concerts and theater productions to comedy shows and lectures.
7. Robert Louis Stevenson State Park
For outdoorsy types, Robert Louis Stevenson State Park has hiking trails that lead to breathtaking views of Napa Valley and beyond. The park, named after the famous author who honeymooned in the area, provides a peaceful retreat with its dense forests, rugged terrain, and the iconic Mount St. Helena.
8. Napa Valley Balloons
Experiencing Napa from the sky with Napa Valley Balloons is the best way to view the region’s rolling vineyards and majestic landscapes. This once-in-a-lifetime adventure provides a serene and breathtaking perspective of Napa at sunrise. Balloon rides are often followed by a champagne breakfast, making it a perfect start to any day in Napa.
9. Silverado Trail
The Silverado Trail, a historic road that runs parallel to the busier Highway 29, is a quieter route through Napa Valley. It’s favored by locals and savvy visitors for its scenic beauty and access to some of the region’s most prestigious wineries. The trail also offers picturesque spots for picnics and photo ops, making it a must-drive for anyone visiting Napa.
10. Di Rosa Center for Contemporary Art
The Di Rosa Center for Contemporary Art is a hidden gem in Napa, showcasing the arts of Northern California. Set amidst a stunning natural landscape, the center features galleries, a sculpture park, and a wildlife preserve. It offers a refreshing contrast to the wine-focused attractions and highlights the impressive talents of regional artists.
I like interesting stories and I like interesting houses. I also like to believe I tell the former and have the latter. (Don’t we all?) So, when a book titled “Authentic Interiors: Rooms That Tell Stories” (Gibbs Smith, March 2024) hit my radar, I thought, “Shazam! My worlds collide!”
I dove into the 224-page, picture-rich hardcover, then rang up the author, interior designer Philip Gorrivan, to see if I could divine the secret to designing rooms that tell not just stories, but our stories. (Face it. Despite what they say, a lot of designers tell their stories.)
In his introduction, Gorrivan cites the 20th-century designer David Hicks who said, “The best rooms have something to say about the people who live in them.” The book then goes on to feature 14 client-inspired projects including the author’s own house.
“If you’re going to design your home, whether a grand house or a shoebox apartment, whatever the budget, make sure your interior space is an extension of who you are,” he said. “This, after all, is where you come home, sleep and live.”
Few would disagree. However, this is one of those easy-to-say, harder-to-do design maxims. In the wrong hands, the result could be ghastly. Some people’s stories just aren’t pretty. I turned to the pages for clues. For one couple — a screenwriter and newspaper editor — Gorrivan used posterized black-and-white images of famous faces. For a Brazilian couple’s New York apartment, he incorporated saturated tones from the tropical rain forest, painting walls in a lacquered emerald and incorporating fuchsia furnishings.
As with any author I interview, but especially this one, I was curious to learn the writer’s story. Where is he coming from? So, I asked Gorrivan, who has a house in Connecticut and an apartment in Manhattan, that and a few more questions:
Marni:Before we talk about other people’s stories, what’s yours? What was your early home like?
Philip: Because my parents had different interests, our house was a mix of antiques and modern furnishings. It was by no means “decorated.” We lived in Portland, Maine, where we had these long bleak winters. My family had this old farmhouse, which became a repository for family hand-me-downs and heirlooms. To amuse myself, I spent hours exploring all these pieces. I became visually tuned into furniture at a young age. I may have been the first 10-year-old to ask for a subscription to Architectural Digest.
Q: Interior design wasn’t your first career. When and why did you switch?
A: After college, I worked in sales, got married, had children and was working to pay the bills. When 9/11 hit, we were living in New York. It made me rethink everything. I decided then to do what I loved. I went to work for an interior design firm to learn the ropes, and after two years went out on my own. My break came when House & Gardens magazine asked me to design a room for a show home they were putting together. They had one room left, a 12-by-8-foot laundry room, the smallest room in the house. I made the most of it.
Q: Although your rooms tell your clients’ stories, you clearly have a signature look. How would you describe it?
A: I come from a love of textiles and fabrics, color and pattern. I like to align with great design firms of the 20th century to create a look I call classic modern, a mix of periods that speak to both the home and the homeowner.
Q: Color indeed! Not everyone can pull off Chinese red lacquered walls.
A: While I have a lot of respect for neutrals and earth tones, I especially like mixing in strong color. Color is powerful and transformative. The chapter titled “Reinvention,” for example, features a New York apartment we made over after the owner got divorced. He was living in the same place he’d shared with his ex-wife and wanted it to feel completely different. Painting the walls bright spring green felt like a new beginning.
Q:Beautiful interior design books cover coffee tables everywhere. Why another one? How is your book different?
A: The word “authentic” is in the title because it’s important to me. We see a lot of pastiche in the design world, where designers copy and paste the work of others. Authenticity is critical in any creative endeavor. I wanted to convey that and emphasize that a successful interior should speak to the architecture of the house or apartment, to the surrounding geography, and ultimately to the homeowner.
Q:What if the homeowner is a couple with different interests and tastes?
A: Every couple disagrees on looks. We negotiate. A successful home design includes elements that reflect all inhabitants, which ultimately makes the interior even more unique.
Q:What makes you cringe when you walk into some homes?
A: Furnishings that are totally out of scale. A sofa that is way too big or art that is too small can ruin a room.
Q:How can we inject our story into our homes, whether that reflects our professions, interests or heritage?
A: Think of what you love and want to surround yourself with: your children, your pets, your travels, your roots. It may not be your profession. Some clients don’t want any reminders of their work once they get home. And you’d be surprised how many want to decorate using the colors of their favorite sports team. Heritage also matters. I always want to know where my clients grew up.
Q:What do you want readers to take away?
A: Though the book is filled with pictures, I hope readers look at the words, too. I hope they read the different stories and see how stories can come alive in design. I hope they see how the best designs come from the inside out, and come away thinking, maybe I can do this, too?
Marni Jameson is the author of seven books including the newly released Rightsize Today to Create Your Best Life Tomorrow, What to Do With Everything You Own to Leave the Legacy You Want.
“Authentic Interiors” by Philip Gorrivan (Gibbs Smith, March 2024, $45, 224 pages) “provides much to savor,” says Publishers Weekly. Photo courtesy Gibbs Smith. (Handout via Marni Jameson)
I have been in the mortgage industry for more than two decades and have been working with reverse mortgages for about 12 of those years. Working in this space for so long, I thought I knew the ins and outs of a reverse mortgage, but it wasn’t until I experienced one firsthand that some things really hit home for me.
So many people have questions about reverse mortgages: how do they work? Are they the right choice? Can there be downsides? Since reverse mortgages generally are not talked about like traditional forward mortgages are, I want to walk through my experience with my parents’ reverse mortgage and talk about lessons I learned — even as someone who already had inside knowledge.
What happened
There are so many reasons that homeowners may seek out a reverse mortgage: funding retirement, sending kids to college, financing large purchases during retirement and the list goes on.
For my parents, specifically, they were aging and approaching retirement and were simply looking for ways to be more financially secure. They had retirement income but wanted an extra layer of financial protection while eliminating their mortgage payment.
This created a win-win for my parents and is a common reason older homeowners use a reverse mortgage: to leverage their home equity.
What I know
As someone who has worked in reverse for a long time, I knew that a reverse mortgage would give them peace of mind without putting their house at risk. A line of credit would simply allow them a safety net if the need ever arose.
I also knew a reverse mortgage would be a “set it and forget it” option, as there would be minimal interaction with the servicer — no mortgage payments, no due dates, no late payments, no phone calls, etc. For my parents, I knew it was important that they didn’t have a ton of back and forth to worry about or any additional due dates they needed to remember.
What I learned
As someone who was already well-versed in reverse, I knew there was still more to learn especially now that it was personal. I believe that experience is one of the best teachers and I am hopeful that my experience helps reverse lenders better serve their borrowers.
The first and most important lesson I learned is that borrowers will need education. In both forward and reverse lending, it’s common to have first-time borrowers that need to learn about the process they’re going through. While reverse mortgages are meant to be hands off, it was helpful to be hands on with helping my parents understand their loan options.
In my parents’ case, they faced a cultural/linguistic barrier that I was happy to help with, however, there were elements of a reverse mortgage that they – or anyone – would need some help to understand. For example, when they got their first annual recertification letter from the loan servicer, it worried them. They were not sure what it meant or what they should do about it.
After I explained the purpose and that it was routine, they were more comfortable and knew it would be coming each year.
Helping provide answers
Occasionally, they would have other questions they needed help with. For the borrowers that don’t have family that is a resource on reverse, they need to know they can reach out to their lender or servicer with questions. The way reverse works isn’t common knowledge for most people, so a little assistance and a little patience goes a long way.
Another lesson I learned is that reverse mortgages create a softer landing. This is something I already knew, but my personal experience really drove this idea home. Not only did their reverse mortgage help my parents during retirement, but it also helped my dad financially when my mom passed away.
Additionally, the relationship with the loan servicer after both my parents passed away did not create a huge burden on our family. Reverse mortgages allow you time to settle affairs after a homeowner passes away – it’s not like a traditional “forward” mortgage where a mortgage payment is due soon and, if not paid, late payment fees can start adding up.
Not to mention, the forward mortgage loan servicer starts to call your parents’ phone number looking to reach the borrower for a payment. None of those pressures exists with a reverse mortgage.
Settling the loan
As someone with loved ones who had a reverse mortgage, while you do have time after someone passes away, you still need to be mindful that the loan needs to be settled. Staying in touch with the servicer is recommended. Keep in mind that the estate has the option to sell or refinance the loan, the same as any borrower would with a traditional forward mortgage.
So much of these were things I already knew about reverse mortgages, but they came to life for me in a new way by helping my own family. After seeing it firsthand, I still strongly believe that reverse mortgages can be a great financial tool as part of an overall financial planning strategy.
This column does not necessarily reflect the opinion of Reverse Mortgage Daily and its owners.
To contact the author of this story: George Morales at [email protected]
To contact the editor responsible for this story: Chris Clow at [email protected]
As the world awakens from its winter slumber and the air fills with a sense of renewal, there’s no better time to embark on the ultimate spring reset for your home. And with this sense of renewal comes an energetic craving to tidy up our homes and welcome the spring season. After a long winter season, where’s the best place to begin refreshing the home?
From decluttering and organizing to deep cleaning rituals and nature-inspired decor, this ApartmentGuide article is your guide for tips and techniques for crafting a sanctuary for the spring season ahead. Whether you live in an apartment in Des Moines, IA or a rental home in Portland, OR, and are looking to incorporate fresh florals, declutter your space, or embrace a new color palette, we’ve got you covered.
Step 1: Get a fresh start by decluttering and organizing
Decluttering your home is not just about tidying up; it’s about creating a sense of space, clarity, and peace within your home. By eliminating excess belongings, you can reduce stress, increase productivity, and improve overall well-being. Start by breaking down decluttering tasks into manageable chunks, focusing on one area at a time to avoid overwhelm. Sort items into categories such as keep, donate, sell, or discard, and be ruthless in your decision-making process. Ask yourself if each item serves a purpose or brings joy, and if not, let it go.
Organizing also plays a vital role in maintaining a functional living space, promoting efficiency, clarity, and well-being. Assess your needs, devise a plan, and utilize storage solutions to categorize items effectively. Regularly declutter and reassess to maintain efficiency.
Seek permission and compromise
If you live with one or more people, it’s important to seek permission and compromise when decluttering. Professional organizer Nassim Secci of The Happy Space Co. emphasizes, “Overcoming the hurdle can be challenging, especially when a spouse is hesitant to let go. Start by gaining permission to organize items without discarding any initially, ensuring they consent to any discarding. The act of categorizing and rearranging possessions can often spark a positive shift, and even without discarding, an organized space can bring a sense of order and freshness to your home.”
Store winter gear
With spring on its way and summer just around the corner, Sarit Weiss, founder of Neat and Orderly home organizing company, recommends walking through the house collecting all winter accessories, gear, and clothing. “Place them in clearly labeled bins or using transparent bins for easy visibility, and find a place to store them for the season. Think under beds, on a high shelf in a closet, or consider investing in a small storage unit if necessary. With this system, you’ll free up space for the current season’s essentials. Bring the beach chairs, summer accessories, and sports equipment to the front of your closets or mudroom for easy access.”
Aim for progress, not perfection
“Spring heralds abundance, possibility, new life, and growth — a sense of everything falling into place,” shares holistic life coach, Carmen Ohling. “This spring, our aim is progress, not perfection, recognizing the link between mental clutter and physical disorder. Clean out your sock and underwear drawer, discarding stained, hole-ridden, or overly stretched items.
Select one task from the list—organize the kitchen utensil drawer, back half of the clothes closet, desk drawer, makeup bag and skincare drawer, or junk drawer — completing it fully. Often, we hoard due to scarcity mentality or comfort in the past. Assess each item’s alignment with your present self; if unused in six months, discard. Embrace Marie Kondo’s principle: If it doesn’t spark joy, let it go.”
Step 2: Tidy up your living space
Deep cleaning your home not only restores a sense of freshness but also promotes a healthier living environment. Prioritize areas that accumulate dust and grime, such as baseboards, ceiling fans, and vents. Use a microfiber cloth and all-purpose cleaner to wipe down surfaces, paying attention to neglected spots like light switches and doorknobs. Don’t forget to vacuum carpets and upholstery thoroughly, and mop hard floors with a disinfectant solution. Finally, tackle overlooked areas like behind appliances, inside cabinets, and beneath furniture to ensure a thorough cleaning.
When it comes to refreshing your space for the spring season, lifestyle blogger Kimberly Samantha from Brunch and Gloss advises, “Edit, edit, edit.” According to Samantha, “Right after the holiday season, spring cleaning is the best time to go through what you have and make a whole household edit. Everything should have a home; if something doesn’t have a home, then chances are you don’t need it. Take time to organize your space in a way that’s functional and achievable for your lifestyle.”
Step 3: Refresh your wardrobe
Refreshing your wardrobe in spring is a chance to not only update your style with fresh colors and patterns but also clean out your closet and maximize your space.
Practice the one in, one out rule
“Consider adopting the ‘one in, one out’ rule,” suggests personal stylist Beth Divine, MA, AICI-CIC based in Indianapolis, IN. “For every new item you bring into your wardrobe, donate one to a charitable organization. Embrace a new trend by trying out sling-back shoes, particularly in trendy styles like two-tone spectators or vibrant colors like blue, pink, or green. You might be surprised by how often you reach for them. Or, add a pair of straight, dark rinse or cream color jeans to your wardrobe that’s easy to pair with anything. Finally, work with a professional to learn your best colors; build your wardrobe or clean out your closet.”
Shop your closet
“Take inventory, mix and match pieces, and integrate items from your winter wardrobe for new outfits, saving money and keeping your closet clutter-free,” explains certified wardrobe stylist Lisa Samsom of Vermont Wardrobe Styling. “Be sure to use a steamer to remove wrinkles and freshen up clothing after bringing them out of storage. Explore your winter wardrobe for burgundy, a hot spring color, and pair it with tans and creams. Create a ‘most wanted list for winter’ to guide future purchases and prevent unnecessary buys. Embrace pre-loved items at thrift stores and vintage shops. To declutter effectively, adopt an ‘outfit mindset’ by assessing each item’s versatility and styling potential, helping you differentiate between essential pieces and unnecessary clutter.”
Add a splash of color or pattern
“Embrace the spring season by incorporating pastel shades and floral prints into your outfits, which can easily be mixed and matched with neutral pieces you already own,” shares Nancy Queen, wardrobe stylist at Shopping on Champagne. “Consider layering lightweight fabrics to navigate the unpredictable spring weather stylishly. This approach not only refreshes your look but also allows you to experiment with different combinations without a complete wardrobe overhaul.”
Step 4: Integrate spring into your interior design
Bring a refreshing burst of color into your home, infusing spaces with the vibrant energy of the season. By incorporating spring decor elements like light pastel colors, natural textures, and floral accents, you can create an uplifting and rejuvenating atmosphere within the home.
Evoke the essence of spring
“As we transition into the warm embrace of spring, the longer days and pleasant, soft sunlight often inspire us to change,” shares Debora Interiors, a virtual interior design service and 3D renderings to create customized designs. “Evoke the bloom of nature into your home by introducing floral touches and soft pastels through fabrics, wall tapestries, décor, and wall paint. Opt for lightweight, natural fabrics such as cotton and linen for your textiles to allow your space to breathe and let the warm sunlight in. Fresh, colorful flowers will be your best friend as they are the finishing touch to any inviting home.”
“I love infusing my living space with lighter colors and vibrant energy,” says Gretchen Reese, lifestyle blogger at Monochrome Minimalist. “Whether it’s introducing a fresh pillow cover or a lighter throw, placing a new plant by the window, or indulging in a scent that evokes the essence of the changing season, each touch revitalizes my space, breathing new life into it for the springtime.”
Embrace the power of simplicity
Melissa Vera, blogger at Adventures of Frugal Mom says, “Clear away winter remnants, opt for lighter and brighter hues, and strategically place mirrors to amplify natural light. Introduce floral accents, be it through fresh blooms or botanical-themed decor, for an instant burst of springtime charm. Embrace a minimalist approach, allowing your space to breathe and embody the refreshing essence of the season.”
Display one-of-a-kind items that have a deep connection to your roots
Erica Shepard, NCIDQ, IIDA, LEED AP ID+C, Owner + Principal Designer at Shepard Design Studio, explains that a home should have a timeless foundation that can seamlessly adapt to the evolving trends while allowing a canvas for personal expression.
“Think bold accent walls, statement furniture, or playful accessories that can thoughtfully incorporate meaningful pieces. This could mean uncovering treasures from your closet or storage spaces – cherished family heirlooms could take center stage on your gallery wall or you could feature vintage furniture pieces awaiting to be refreshed. Your local frame shop or services like Framebridge are great DIY resources for displaying beloved objects or nostalgic photos in your home,” suggests Shephard.
Bring nature in
Our homes offer us the perfect excuse to embrace the changing season. According to Heather Calder, owner of Heather Interior Design, you can refresh your space with something as simple as a new paint color to freshen and liven up the space.
“Try something new and be bold,” suggests Calder. “Adorn your front door with a welcoming floral wreath and infuse the air with the scent of spring using candles. Incorporating nature into our living spaces offers countless benefits.”
Infuse your space with cheer
“With spring’s arrival, now is the ideal time for a home refresh,” states Cemre Yurdakul, interior designer and property stylist at Cinnamon & Vanilla Interior Design. “Consider replacing those heavy winter blankets with light and airy throws in vibrant spring hues like sunny yellows or soft pastels. Incorporating a few potted plants or fresh flowers can infuse your home with the rejuvenating essence of spring. Let’s aim to create living spaces that radiate the brightness and cheerfulness of the season itself.”
Step 5: Brighten up your space with flowers
By incorporating flowers, you can instantly add a vibrant burst of color and a delightful fragrance, lifting spirits and bringing a touch of nature indoors.
Use blooming branches for a touch of spring
“Cutting branches from trees and shrubs in the early spring is an easy way to bring some drama into your home,” shares Megan, owner of Field Floral Studio, a fine art florist in Portland, ME. “Given fresh water and warmth, bare branches will start to leaf out or flower depending on which variety you choose. Cut each branch on a slant, place it in a large vase, and watch the magic unfold.”
Portland, OR-based flower delivery By the Bunch Floral Alchemy also recommends decorating with branches. Celebrate spring by bringing blooming branches indoors — dogwood, quince, forsythia, tulip, star magnolia, cherry, and plum blossom create stunning displays. The trick with these is to cut them early as soon as the buds start to show, splitting stems for better water absorption, and be sure to change the water every couple of days to get them to last longer. The warm interior temperatures will speed up their blooming process, and depending on how early you cut them, you might get as much as a week or two out of them. Local flower farms typically offer CSA subscriptions for seasonal blooms, with some providing delivery. Consider researching nearby options to support local.”
Choose seasonal and local blooms first
“Choose seasonal and local blooms first,” advises Bianca Sparta, owner of Colibri Flowers in Portland, OR. “This ensures that your flowers are as fresh as possible and will give you the longest vase life. Flowers should spark joy so choose and arrange however pleases you the most.”
Step 6: Incorporate principles of personal growth
This spring, prioritize fostering a nurturing environment that supports individual development and well-being. By surrounding oneself with reminders of personal goals, affirmations, and inspirational quotes, one can cultivate a mindset of growth and self-improvement in their daily life.
Focus on what you desire to maintain
“Your environment can support you in creating your ideal habits and routines,” explains Jessica Malone, life coach at Nacho Average Fro. “First, before you declutter, identify how you want to use the space, then identify what items can assist you. For example, if you want to spend more time journaling, consider where to place your journal and what additional items you need to support that habit.
Once you’ve selected the space, remove the items currently in that place and ask yourself ‘Do any of these items support my desired habits and routines?’ Whatever does not support you should be let go. After you’ve dedicated space to the things that support the life you desire, you’ll build new habits with ease.”
Create a space where you feel like you belong
Life coach Nisha Mody shares, “Spring is a great time to plant seeds for new growth within ourselves and in our environments. I love to think of ways to resource myself in different environments, and I encourage my clients to do the same. Resourcing ourselves is about finding something we can attune to that makes our bodies feel safe and like we belong. In terms of living spaces, this can mean having a photo of a loved one near a workspace, putting a plant near a window to witness its growth, or thinking of color palettes that soothe your body and soul.”
Establish tech-free zones in your home
“By designating specific areas as tech-free, you can create a space that fosters mindfulness, clarity, creativity, and real connections,” explains Abbey Sangmeister, life coach and therapist at Evolving Whole in New Jersey and Philadelphia, PA. “Make this a space you will want to go to; one with great lighting, candles, plants, and a journal in that area. Keep journal prompts, affirmations, or a card deck in the area to help you focus on personal growth, especially if you are feeling stuck with prompts. Personally, I am not a minimalist, so I like having trinkets, photos, art, and little reminders from travels and challenges I’ve accomplished surrounding me.”
Unlock motivation with the fresh start effect
Aileen Axtmayer, career coach at Aspire with Aileen based out of Boston, MA, discusses the ‘fresh start effect.’ “Our brains are more inclined to take action when they perceive the start of a new time period, such as the onset of a new year or season. With the arrival of spring, a new season commences, providing an opportune moment to refresh our environments and reinvigorate our pursuit of goals.”
Step 7: Focus on your emotional well-being with meditation
Meditation cultivates inner calm, resilience, and a greater sense of clarity amid life’s challenges. Integrating meditation into your life this spring can foster a harmonious environment conducive to self-reflection, renewal, and embracing the transformative energy of the season.
Create a dedicated space
“It’s true you can meditate anywhere; however, creating a dedicated space for meditation can help you support and maintain your practice,” says Claire E. Parsons, lawyer, meditation teacher, author, and founder of the Brilliant Legal Mind blog. “First, consider what kind of energy best supports your practice. Do you need calm and quiet, a cozy container, or light and space? Next, identify a small space that suits these needs and fits functionally with your lifestyle. Then, simply add supportive elements, including cushions, a bench, blankets, candles, and any decorative or spiritual items, and your space is ready for sitting in comfort.”
Lauren Schuivens, founder and CEO of Samavira Meditation, meditation training that helps you adapt traditional techniques to how your mind works best, explains that the area you choose to dedicate to your practice can be as simple as a corner in your room. “Add cozy seating, plants, soft lighting, and soothing colors. Personalize it with items like candles and crystals to enhance relaxation. Having a dedicated meditation space not only allows you to rejuvenate and find inner peace amidst the changing seasons, but can also help you drop into your practice more easily and deeply as your body begins to associate the space with a sense of tranquility.”
Invite tranquility and renewal in
Brennan, founder of meditation company Mindkee, dedicated to helping you relax and breathe, weighs in on this topic. “Elevate your ambiance by incorporating a cozy meditation pillow or cushion, gently nudging you towards moments of mindful reprieve. Infuse the air with calming aromas from incense or scented candles, or enliven the space with air-purifying plants for a serene atmosphere.
Surround yourself with imagery that inspires peace and positivity, whether it’s pictures of sages or loved ones who bring solace to your spirit. Above all, commit to a daily meditation practice to foster mental well-being and embrace the transformative power of consistent mindfulness in your life. Stay blessed, stay positive, and don’t forget to relax and breathe because your mind is key.”
Step 8: Bring the outdoors in with plants
Plants not only add aesthetic beauty but also enhance indoor air quality and boost mood and productivity. Incorporating greenery into your living space connects you with nature, fostering a sense of tranquility amid the changing season.
Begin fertilizing in early spring
Plant nursery Potted in Portland says spring is the perfect time to have a plant check-in. “We suggest starting spring plant care with fertilizing in March and assessing the soil to see if it needs a refresh or repotting. Prune away unwanted growth and remove any crispy or discolored leaves. Don’t forget, with increased sunlight, watering needs will likely increase as well.”
Consider your space and lifestyle
Tailored houseplant subscription service Plant in the Box, recommends plant parents to think about placement, care needs, and aesthetics to refresh their home. “Consider aloe vera or snake plants for bright sunlit spots. Fill slightly shaded or indirectly lit areas with philodendrons and ferns. If you lead a busy lifestyle or travel frequently, low-maintenance options like spider plants or pothos are ideal, requiring less frequent care. For aesthetics, decide if you prefer a plant that grows large, like the monstera, to fill a space, or something more compact, like a peace lily, to enhance your home’s look and feel.”
Mix textures and heights
“Opt for a mix of textures and heights when styling houseplants – consider combining trailing vines with tall, sculptural plants for a dynamic effect,” suggests Cultivated Creations, offering a unique collection of plants and local art in Baltimore, MD. “To boost your plant care routine, consider repurposing kitchen waste into homemade fertilizer using banana peels. Simply place banana peels in a mason jar, cover them with water, and let them soak for a week. After removing the peels, use the nutrient-rich water to nourish your plants, providing them with natural and beneficial hydration.”
Perfect picks for beginners
Mishele Freeman, founder of Emerald & Ivy Plant Boutique in San Diego, CA recommends a few beginner-friendly plants. “Golden pothos, ZZ plants, dracaenas, and snake plants are great beginner plants because they can tolerate any level of light, don’t need to be watered often, and are overall very low maintenance. These plants also have a neutral look to them, so pairing any of these with a fun pot (or even neutral, if that’s your aesthetic) makes it so easy to adapt them into your lifestyle. Keeping a pot neutral when paired with a more fun, detailed plant helps those intricacies stand out, and vice versa.”
Step 9: Find spring-inspired recipes that embody freshness
Spring brings an abundance of fresh produce, making it the perfect time to incorporate vibrant and nutritious recipes into your diet. From crisp salads bursting with seasonal greens and colorful vegetables to light and refreshing fruit-based desserts, there’s no shortage of delicious options to enjoy.
Embrace green foods
Monique Costello, functional medicine wellness coach and chef at Happy Eats Healthy weighs in on this topic. “As spring arrives, our bodies naturally crave fresh, light, and nutritious foods, signaling a desire to cleanse after the heavier winter fare. Incorporate greens generously by adding them to pasta sauces and soups, blending them into dressings, crafting wraps with leafy greens, or pulsing veggies into rice. For added nutritional benefits, consider topping dishes with sprouts, which boast a nutrient density 10 to 30 times higher than their mature counterparts.”
Eat your fruits and veggies
Salads are ideal for springtime as they incorporate fresh, seasonal produce, providing a light and refreshing option in warmer weather while offering a nutritious and satisfying meal. A great way to get your fruits and veggies in all at once is by simply combining the two.
Nina Cherie Franklin, recipe blogger at That Salad Lady recommends a berry spinach salad. “It’s a quick, delightful fusion of spring’s finest – fresh strawberries, blueberries and spinach, ready in under 15 minutes. Creamy avocado adds richness and heart-healthy fats, capturing the essence of spring with its fresh, buttery taste. Tossed in a homemade strawberry vinaigrette crafted from apple cider vinegar, extra-virgin olive oil, and honey, this salad strikes a perfect balance between sweet and savory flavors. This bowl is bursting with fresh flavors, textures, and nutritional goodness.”
Refreshing your home this spring
By decluttering, organizing, and infusing your space with the vibrant energy of the season, you can create a home that truly embodies the essence of spring. Whether it’s adding touches of greenery, embracing light and airy decor, or simply opening your windows to let in the fresh air, every small change can make a big difference.
As you breathe new life into your surroundings, embrace the beauty of simplicity, the joy of fresh beginnings, and the promise of growth as you embark on this transformative journey. Here’s to a season of growth, positivity, and endless possibilities in your beautifully refreshed space.
With the immigration crisis, California lawmakers have proposed expanding the state’s zero-down, no payment home “loan” program to illegal immigrants. “Assembly Bill 1840 is an insult to California citizens who are being left behind and priced out of homeownership,” said Republican State Senator Brian Dahle. “I’m all for helping first-time homebuyers, but give priority to those who are here in our state legally” Dahle added.
However, bill author Assemblyman Joaquin Arambula, a Democrat from Fresno, said in an interview with the Los Angeles Times, “The social and economic benefits of homeownership should be available to everyone.”
Assembly Bill 1840 is the California Dream for All Shared Appreciation Loans program administered by the California Housing Finance Agency. It started in 2023 with $300 million set aside for 2,300 applicants, and ran out of funds in just 11 days. In 2024 the program will require applicants to be first-generation home buyers and reduce maximum income thresholds to 120% of county median household income. Under the program, applicants can secure “loans” of up to 20% of a home’s purchase price to first-time home buyers — the cost of a down payment — with zero down payment to the CHFA, and no payments on the “loan.”
The Center Square writes the state’s so-called “loan” can potentially be repaid “when the home is refinanced, sold, or transferred, with the borrower paying back the original loan amount plus 20% of any increase in value on the property. Unless a property loses more than 80% of its purchase price, the state will not directly lose money, but without any provisions on how long a property can be held for — including what happens with certain kinds of trusts, such as right-of-survivorship trusts — it’s not clear if the state can ever get its money back if a family decides to hold on to the home.”
“With the typical home in California requiring nearly triple the median household income to afford, 45% of Californians are considering leaving the state due to the high cost of housing” adds the publication.