Furniture can be expensive but seasonal sales are a great way to find what you need at budget-friendly prices. Whether you’re looking to spruce up an old, familiar space or fill up a new one, these retailers have got you covered with fall discounts. You can shop everything from couches to home storage baskets and everything in between while stocks last.
Ashley Furniture
Ashley Furniture has everything you need for your home, and right now, the retailer is offering up to 50% off its clearance styles and items. These Brayton baskets are included and are going for $40. You can also get an additional 20% off home decor on orders over $999 with the code SAVE20.
Wayfair
Wayfair is showing up and showing out this fall with massive discounts during its Save Big, Give Back Sale. You can get up to 70% off daily deals, which includes this gorgeous coffee table from Laguna. It’s currently available for $218, which is a whopping 56% off its original price.
Burrow
Fall brings cooler temperatures and spooky things, but it also brings deals and steals. Right now, you can get up to 60% off during Burrow’s fall sale. Consider picking up this new Block Nomad Sofa Sectional, starting at $1,669, to help you prepare for the cozy season. Netflix and chill, anyone?
Bed Bath & Beyond
When it comes to bedding, bathroom and kitchen decor, there’s no better place than Bed Bath & Beyond. It goes beyond that with furniture for your living space, like this Simple Living Margo Modern Wood TV Stand from $202. In fact, everything on the site is currently on sale for up to 70% off plus an additional $40 off orders over $500. Discounts will be applied at checkout once you visit the site through this link.
Welcome to CNET Coupons, the first stop before you shop, featuring a multitude of deals and discounts from top online retailers. Simply head over to our coupon page and type in your favorite store or brands to find all the deals available for the week.
Why Your Checking Account Should Contain as Little Money as Possible
By: Natasha Etzel |
Updated
Oct. 4, 2023 – First published on Oct. 4, 2023
A bank account is an excellent place to keep your money so it’s organized and readily available when needed. Many people keep their cash in a checking account. But, while you want to stash enough money in your checking account to cover your bills and everyday expenses, you want to avoid keeping all of your cash there. I’ll explain why here, and suggest a better place to stash your extra savings.Don’t miss out on interestThe average checking account doesn’t accrue interest. That means you won’t get rewarded for keeping money in your bank account. Instead of keeping all your cash in your checking account, you should only keep enough to cover your monthly expenses. You may want to keep a bit more than just enough to cover your bills. That way, you’ll be covered if you have an unexpected charge or a more costly bill than anticipated. How much extra should you have? It depends. For some people, a couple hundred extra dollars may be ideal. But for others, it may be a good idea to include a few hundred or up to an extra $1,000 in their checking accounts for extra wiggle room.But don’t keep every last dollar you have in your checking account. If you do, you’ll miss out on interest. Instead, move your extra savings into a bank account that accrues interest. With an interest-earning bank account, you’ll get rewarded as your cash sits in the bank. You could earn money with a savings accountMany people keep extra cash in a savings account. Review the bank’s annual percentage yield (APY) when considering a new savings account. This rate is the amount of money or interest you’ll earn over a year. The higher the APY, the more money you can make. You can take advantage of an attractive interest rate by opening a high-yield savings account. At the time of writing, the bank accounts on our best high-yield savings accounts list offer APYs ranging from 4.30% to 5.26%. If you have a significant amount of extra cash and keep it in an account like this, you can earn money without doing extra work. $5,000 in savings accumulates this much interest To determine how much interest you can earn by moving your extra cash to a savings account, multiply your initial deposit by the APY your bank account offers. This will show you how much interest you can earn by keeping your money in the bank for a year. Let’s imagine you have $5,000 extra sitting in your checking account right now. If you instead move that money to a high-yield savings account with an APY of 5% and you keep it in the bank for an entire year (and your APY doesn’t change; note that banks can raise or lower APYs at any time), you’ll earn $250. That’s much better than making $0 by keeping your savings in a checking account that doesn’t accrue interest. Now you can see why it pays to avoid keeping all your money in a checking account. You can earn extra money from interest by keeping your spare cash in a savings account that offers interest. For additional tips like this, check out our free personal finance resources.
3 Reasons I Don’t Like Aldi as Much as I Used To
By: Maurie Backman |
Updated
Sept. 13, 2023 – First published on Sept. 13, 2023
At some point in 2022, I discovered Aldi and began shopping there weekly. I found that I was able to save money on my grocery bill by purchasing certain produce items there. And since I happen to have an Aldi adjacent to my local Costco, it wasn’t particularly out of my way.But over the past few months, I’ve become less enamored with Aldi. Here’s why.1. The selection is just too limitedAldi — at least near me — is a minimally stocked grocery store. The shelves aren’t loaded the way they are at my nearby ShopRite and Stop & Shop.To be fair, this was the case when I first started shopping there. But because there’s just not a lot of selection, I’m generally limited to only buying a few items when I pop into Aldi.Not so long ago, I was running into Aldi for some fruit, which I usually buy there, and I needed to grab shredded cheddar cheese. Normally, I get that at Costco, but I didn’t want to run next door to Costco and wait in a line for cheese alone. Unfortunately, though, Aldi didn’t have the cheese I needed, so I had to make an extra stop anyway.2. The inventory is too inconsistentNot only is there a limited selection of food items I can buy at Aldi, but sometimes, I can’t even find the five or six things I’m looking for. Aldi was once my go-to source for avocados, since it’s an expensive purchase and Aldi tends to sell them for less than Costco (at least in my area). But the last few times I stopped at Aldi, avocados weren’t in stock.And that’s happened to me with other things, too. Over the past several months, I’ve struggled to find everything from cucumbers to strawberries at Aldi as well.3. What the store saves me on groceries, I lose via lost working hoursShopping at Aldi still has the potential to save me a little money on groceries. At a time when supermarket prices are up 3.6% on an annual basis, that helps.The problem, however, is that even though Aldi is right near Costco in my neighborhood, thereby allowing me to combine those trips, it still takes time to visit an extra supermarket. I have to find parking, wait in a checkout line, and spend time searching the shelves.While it’s nice to save $2 here and $3 there, the reality is that a stop at Aldi might cost me 20 or more minutes of work — especially when I don’t manage to find the things I need. And losing out on that work time often means forgoing more than $2 or $3 of income. So from a time perspective, it’s just not worth it.Shopping at Aldi could make sense for a lot of people. If you’re someone with flexibility in your schedule and grocery list, and you’re not so picky about the brands you bring home, then it could pay to spend the time visiting Aldi, even if you don’t always manage to find all the things you need. But I’ve reached the point where shopping at Aldi makes less and less sense for me, so I’ll most likely stop going there unless it’s a one-off basis.
7 Little-Known Gift Cards You Should Always Buy at Costco
By: Steven Porrello |
Updated
Sept. 29, 2023 – First published on Sept. 29, 2023
Costco gift cards are one of the warehouse’s best deals. Costco often will add 10% to 30% of value when you buy its gift cards in a bundle. It would be one thing if the gift cards were for places you’d never shop, like Bed, Bath, and Beyond (R.I.P.). But Costco gift cards are surprisingly varied and include many restaurants and retailers you’re probably already spending money with.So if you, like me, pinch pennies for your finances, here are seven gift cards you should always buy at Costco.1. Jiffy LubeCostco will add 25% of value when you buy a set of two $50 Jiffy Lube eGift cards for $74.99. While Jiffy Lube doesn’t offer the cheapest oil change on the market (Walmart will likely take the gold for that), its technicians do go through rigorous training via the Jiffy Lube University to ensure no accidental damage is done to your vehicle. If quality trumps price for your vehicle, this deal will save you $25 off your next oil change (limit of five per membership).2. Alaska AirlinesPacific Northwesterners will appreciate this deal — Costco will give you a $500 eCertificate to Alaska Airlines for $449.99. That comes to 10% off your next Alaska Airlines flight (limit of four per membership).3. Southwest AirlinesIf that was the first time you’d heard of Alaska Airlines, here’s a gift card package with a more familiar airline: Southwest. Costco will add 10% of value when you buy $500 of Southwest Airlines gift cards for only $449.99.4. Cinemark TheatresIn a great deal for moviegoers, you can buy a $50 Cinemark Theatres eGift card for only $39.99 at Costco. That’s an extra 20% of value that you can use for movie tickets, food, drinks, or merchandise (limit of 10 per membership).5. Miller PaintPainting your house ain’t cheap. Interior paint jobs will cost about $2 to $6 per square foot, according to the home improvement site HomeAdvisor, while exterior paint jobs can cost about $1.50 to $4 per square foot. To ease those costs, Costco will sell you $100 of Miller Paint gift cards for $69.99 — a whopping 30% of extra value.6. SpafinderIf you thought the cost of painting your house was bad, imagine how your back will feel after hours of painting walls. To ease that pain, Costco has an irresistible gift card deal: two $50 eGift cards for $79.99 to be used at thousands of spas and salons across the country. You can also use them at participating yoga and fitness studios (limit of 10 per membership).7. Synergy RestaurantsOne of the more interesting gift card packages I’ve come across, this extremely lucrative deal — two $50 eGift cards for a sticker price of $69.99 — will help you foot the bill at hundreds of local restaurants in numerous cities across Arizona, California, Colorado, Nevada, New Mexico, and Texas. This is perhaps one of the best deals I’ve seen and can be perfect for locals in those states and travelers who are visiting them.Most members don’t realize how many gift cards Costco actually sells. In fact, these seven packages only scratch the surface. Next time you’re at your local Costco warehouse, be on the lookout for gift card packages, which are often found at the ends of aisles. You might find a deal you can’t get anywhere else.
5 Amazing Costco Buys for Less Than $10
Costco is a favorite among bargain hunters. But because it’s a place where you typically buy in bulk, it’s often not great when you only want to spend a few bucks. Believe it or not, though, there are some deals at Costco for $10 or less. Here are five amazing Costco finds that will set you back no more than $10.1. Rotisserie chickenNot surprisingly, the $4.99 rotisserie chicken tops this list. Costco debuted its famed bird for $4.99 way back in 1994. It briefly raised the price by $1 during the Great Recession in 2008, then knocked it back down to $4.99 one year later. Had Costco raised its prices to keep up with inflation since 1994, that chicken would cost $10.48 today.Costco’s rotisserie chicken will always be a fan favorite for those looking for an effortless dinner. Just be aware: Costco keeps the prices low because its rotisserie chicken is what’s called a loss leader. The warehouse giant is willing to lose money selling them because it knows it can get customers into stores, where they’ll probably buy more than just a chicken.2. Hot dog and soda comboCostco has raised the prices of many of its food court items in recent years, but the price of one perennial favorite shows no signs of budging: the hot dog and soda combo, which has cost $1.50 since it debuted in 1985. Adjusted for inflation, the hot dog and soda combo should cost $4.28. Last year, during a quarterly earnings call, Costco chief financial officer Richard Galanti said the warehouse giant could keep the $1.50 price point “forever.”3. Kirkland Signature Creamy Almond ButterYou can use almond butter as a salad dressing ingredient, slather it on toast, put it in baked goods, or just eat it straight from the jar. If you’re the type who likes to devour almond butter by the spoonful, you don’t want to pass up a 27-ounce jar of Kirkland Signature Creamy Almond Butter, available for just $7.99. That works out to less than $0.30 per ounce. By comparison, a 16-ounce jar of Trader Joe’s Creamy Almond Butter Salted costs $6.99.4. Olde Thompson Kosher Sea Salt, 5 lbsSea salt has plenty of uses that go beyond cooking. You can use it for cleaning, as an exfoliant for your skin, and sprinkle it around your garden to keep unwanted bugs away. For just $5.99, you can score a 5-pound jar of Olde Thompson Kosher Sea Salt and keep it handy for all your household and kitchen needs.5. Bisquick Pancake & Baking Mix, 96 OuncesBisquick is another one of those things that’s handy to keep in your pantry. You can use it to whip up a quick batch of pancakes or waffles for breakfast or keep it on hand for a variety of baked good recipes. A 96-ounce box of Bisquick is available at Costco for $8.89. It’s normally priced at $10.99, but there’s a $2.10 manufacturer’s discount that’s good through Oct. 8, 2023.What are the best deals at Costco?Since Costco tends to sell large quantities, you’ll typically find that a lot of the best deals cost well above $10. Regardless of the exact price, it usually makes sense to buy products at Costco that have a long shelf life. For example, even if you find great deals on fresh produce and milk, you probably don’t want to load up on these items unless you’re feeding a large crowd, as they’ll go bad quickly.Also, make sure you look beyond the grocery department for savings. For example, getting your prescriptions from Costco Pharmacy or using Costco to fill up your gas tank could also save you money.If you want to maximize the benefits of your membership, try shopping with a Visa credit card that offers rewards. (Costco only accepts Visa credit cards.) That way you can earn travel rewards or cash back when you load up on groceries and other necessities.
5 Ways to Turn $100 Into Passive Income
By: Chris Neiger |
Updated
Oct. 1, 2023 – First published on Oct. 1, 2023
Creating passive income is one of the best ways to build wealth and protect your personal finances from an emergency, like losing a job or having your salary cut. According to U.S. Census Bureau data, about 20% of Americans have some level of passive income, with the average amount earned from passive income being $4,200 annually.Passive income strategies aren’t get-rich-quick schemes, and many initially require a significant time investment. The good news is that many can be started with $100 or less. Here are a few inexpensive ways you can start generating passive income.1. Buy stocksSome people think that owning stocks is only for rich people. It’s not. In fact, 61% of Americans own stocks, according to Gallup. And while you won’t get rich investing $100, you do have the potential to easily make money.You can open an online brokerage account for free and typically buy stocks for either little or no fees these days. The hard part is figuring out what company you think will do well over the long term so that you get the largest return.Let’s look at one popular company that many people own stock in: Apple. Let’s say you invested $100 annually over the past 10 years to buy Apple’s stock and reinvested any dividends you received to buy more shares. Thanks to Apple’s phenomenal growth over the past decade, your stock would be worth $4,848 — a 385% return on your investment.Of course, picking stocks can be difficult. If you want to potentially earn passive income in the market without picking specific stocks, you may want to buy shares of an exchange-traded fund (ETF). These funds follow market indices and can be purchased for as little as $1, thanks to online platforms that allow you to purchase fractional shares.2. Rent out an extra roomThis one is super easy and might cost you $0 if you already have the extra space. The latest Census Bureau data shows that 27.6% of Americans live alone. This means that many Americans may have a spare room in their home that could be transformed into a passive income stream.While it’s not for everyone, renting out a room in your home could be one of the easiest ways to generate passive income because you’re already in the space — either renting or as a homeowner — so all you need to do is find a roommate and collect their rent payments.This could be a very lucrative way to boost your income, considering that rent prices have skyrocketed over the past few years.3. Rent out your carWith 13% of full-time Americans working from home right now and 28% on hybrid schedules, many cars are sitting unused throughout the work week. With some planning and effort, your vehicle could quickly begin generating income through car-sharing websites like Turo.You can list your vehicle on the site for free and pay Turo a fee when you’ve rented out the vehicle. Turo says the average annual income for one car on its site is $10,516. Of course, some work is required to keep the vehicle clean and coordinate pick-up and drop-off. Still, renting out your vehicle could be a low-cost way to earn semi-passive income.4. Create an online courseMany people have accumulated many skills through jobs and even hobbies. You likely know how to get certain things done that someone else would find very useful — and pay for.There are many online platforms — including Udemy, Skillshare, and Thinkific — where you can create your own professional course and then sell it to an established online audience.You’ll need to do a fair amount of work upfront creating your course — including planning the sessions, recording videos, and making other content — but once you have it up and running, you can earn passive income from your hard work.Some course-creating platforms charge a monthly fee, while others may take a percentage of each sale you make. But while this option isn’t free, it’s certainly inexpensive.5. Start a dropshipping businessThere are many different businesses that fall under the dropshipping category, including selling T-shirts online or print-on-demand content like notebooks and journals.The startup cost for dropshipping businesses is low because you don’t buy any inventory and don’t have to rent an office or retail space. Instead, you’ll spend money setting up a website and potentially selling ads to market your products. You can even become a seller on Amazon and sell products without investing in your own online shop.You’ll have to invest significant time on the front end to build your business. Still, once you’ve found a niche and have established the relevant products, dropshipping allows you to spend minimal time keeping up the business while still making online sales.Keep these things in mindWhile all of these ideas will cost you little money and have the potential to generate passive income, you’ll still need to invest time and mental energy in setting them up. For example, you may need to do a lot of research before setting up a dropshipping business or launching an online course.Like anything worthwhile, be patient and take small steps to get started. You likely won’t be an overnight success, but making any progress toward generating passive income will move you further toward your personal financial goals.
On average, homeowners insurance in the United States is $1,424 annually and about $118 per month. This price varies based on the state you live in, along with other factors like previous home insurance claims, credit score, and the age of your home.
If you’re buying a home, there are a lot of cost considerations, from the monthly closing costs to the mortgage payments and interest rate. One factor many people often overlook is the additional cost of home insurance. To properly budget for your new dream home, it’s helpful to know the average cost of home insurance in your state.
Today, we’ll go over the average insurance cost for each state, which companies have the best rates, and what factors can affect your rates. By learning more about home insurance, you can find the best deals to save money and enjoy the experience of moving into your new home. If you’re considering moving to a new state, this information may also help influence your decision.
Table of contents:
Homeowners Insurance Facts
The cost of your homeowners insurance is affected by various factors. The cost of homeowners insurance can vary by state because some states are more prone to natural disasters than others. For example, Florida is more prone to hurricanes than other states, so the average cost is higher than in a state like Nevada.
As you’ll learn, homeowners insurance can range from less than $1,000 to over $3,000 per year. Here are some key facts about homeowners insurance in the United States:
The average annual cost of homeowner’s insurance in the United States is $1,424.
The state with the cheapest homeowners insurance at $382 per year is Hawaii.
Oklahoma has the highest homeowners insurance rates, averaging $3,659 annually.
Portland, Oregon, is the most populous city with the lowest average annual insurance rate at $686 per year.
People with a credit score of 740 or higher have the lowest average insurance rates at roughly $1,207 per year.
Average Cost of Home Insurance by State
The overall average cost of home insurance in the United States is $1,424 annually or $118 per month.
The following chart and table show the average cost of home insurance for each state and includes Washington, D.C. These prices are based on $250,000 for dwelling coverage.
Top 5 States With the Cheapest Homeowners Insurance Rates
Hawaii has the lowest annual rate of $382 per year, which is 73% lower than the national average. Vermont, Delaware, Utah, and Oregon are also in the top five states with the lowest homeowners insurance rates, and each is close to 50% lower or more than the national average.
Hawaii: $382 per year
Vermont: $658 per year
Delaware: $679 per year
Utah: $696 per year
Oregon: $723 per year
Top 5 states With the Most Expensive Homeowners Insurance Rates
The states with the most expensive homeowners insurance rates in the country are Oklahoma and Kansas at $3,659 per year and $3,083 per year respectively. Some of the other states with the highest rates include Nebraska, Colorado, and Arkansas.
According to Insurance.com, these states have high rates because they’re more likely to experience tornadoes, hurricanes, hailstorms, and other natural disasters.
Oklahoma: $3,659 per year
Kansas: $3,083 per year
Nebraska: $2,951 per year
Colorado: $2,152 per year
Arkansas: $2,123 per year
Average Cost of Homeowners Insurance by City
The city you live in may also determine the cost of your homeowners insurance rates. In addition to the possibility of natural disasters, population, crime statistics, and local materials and labor costs are also factors.
The following cities are the 25 largest cities in the United States, organized alphabetically. The table includes their average annual and monthly rates.
How Much Does Homeowners Insurance Cost by Company?
As with all forms of insurance, it’s typically a good idea to shop around for the best rates. Your rates may change depending on the provider based on the size of your home, claim history, and additional factors. And keep in mind that the level of coverage will also change the cost of your insurance premiums.
The following table shows 11 of the country’s most popular homeowners insurance providers sorted by annual rates.
4 Factors That Can Affect Homeowners Insurance Rates
Outside of your home’s location, some other factors can determine the cost of homeowners insurance. We’ve listed four of the most common factors that could affect your insurance rates.
1. Credit Score
Some states may look at your credit score to help determine your rates. Your credit score may be a factor because a low credit score or bad credit history can be considered a risk factor.
There are some exceptions. According to Experian®, states like California, Hawaii, Maryland, and Massachusetts prohibit using credit scores as a determining factor for insurance rates.
Credit Score:
Poor (300-579)
Fair (580-669)
Good (670-739)
Excellent (740-850)
Average Annual Rate:
$3,274
$1,571
$1,428
$1,207
2. Claims History
Similar to automotive insurance rates, if you have an extensive history of home insurance claims, this can raise the price of your rates. Although you have less control over the damage that may happen to your home, insurance companies require higher premiums to help cover the costs of damages or injuries.
This table shows what types of claims may raise your rate based on the average amount paid out for the claim. The average payouts are taken from the Insurance Information Institute’s research for dwellings with $250,000 in coverage.
Type of Claim
Average Dollar Amount of Claim Paid Out
Average Annual Rate After a Claim
Wind
$11,650
$1,570
Liability
$30,324
$1,749
Theft
$4,415
$1,763
Fire
$77,340
$1,773
3. Deductible Amount
Your deductible is another factor to consider. Some people opt for a higher deductible because it lowers their rate. Should something happen to your home, you’ll have a higher out-of-pocket expense due to that higher deductible. This is helpful to remember as you budget around your home insurance costs.
Another consideration is that while you may save money while paying for your homeowners insurance, you may face financial hardships should you need to file a claim.
Deductible Amount
Average Annual Rate
$1,500
$1,368
$2,000
$1,273
$5,000
$1,111
4. Age of Home
If you own an older home, it may be more expensive to repair the home if it’s damaged. Older homes typically have higher rates due to these higher costs for repairs. The repairs are often more expensive, and the contractors may need to bring the home up to the most current building and safety codes. The first year of recorded data was in 1959.
What Does Homeowners Insurance Cover?
Knowing what your homeowners insurance policy covers can help you better prepare for situations when you might need to use it. With a better understanding of what is and isn’t covered, you can protect yourself from the potential of financial losses if you need to file a claim.
Depending on which insurance provider you choose, they may offer some or all of the following coverages.
Dwelling coverage: The averages listed throughout this post are based on the dwelling coverage of $250,000, which means the insurance will cover up to $250,000 in repairs. Should you get a policy with a higher dwelling coverage amount, more repairs will be covered.
Additional structures: Basic dwelling coverage covers damages to your home, but if you have other structures like a guest house, shed, or detached garage, you’ll need this extra coverage. This coverage is often 10–20% of the dwelling coverage’s limit.
Medical payments: If someone who doesn’t live in your home gets injured on your property, you can get coverage for their medical payments. Medical payment coverage usually ranges from $1,000 to $5,000 of coverage.
Personal liability: Personal liability coverage can be between $100,000 and $500,000, which is for property damage to someone else’s property or if you’re legally liable for injuries on your property. Personal liability coverage may also cover legal fees if someone were to sue you after being injured.
Loss of use: If your home gets damaged to the point where you cannot live there until the repairs are done, this coverage will help cover living expenses. Loss of use coverage can range from 10% to 30% of dwelling coverage.
Personal property: Ranging from 50% to 75% of your dwelling coverage, this provides coverage for the personal property in your home, like clothing, furniture, and electronics. If you have this coverage, be sure to read the details because it may have a max limit of coverage on certain types of items.
What Characteristics Affect Homeowners Insurance?
Earlier, we went over different factors that can affect your homeowners insurance, like your credit score and history of claims. Home and location characteristics may also give you lower or higher rates.
Home Characteristics
Various characteristics of your home and how it’s built may make it more at risk for damage. As with other forms of insurance, if there are higher risks, they can increase your rates.
One of the common characteristics affecting your rates is the condition of your roof. Your roof is a primary part of your home that protects the inside of your home. If you have an older roof that may not withstand harsh weather or is made from poor materials, you may have to pay a higher insurance rate.
Some insurance providers may also have higher rates for special features. Some of these include having a pool, hot tub, sauna, or any other feature that may cause an injury.
Location characteristics
Earlier, you learned how the average home insurance cost varies from state to state, and much of this has to do with the area’s characteristics. In addition to weather risks, home insurance rates are often higher in areas prone to wildfires. Some insurance providers calculate risk based on how close the home is to fire stations and fire hydrants.
Another location characteristic that home insurance providers look at is crime rates. Home insurance policies may have theft coverage, but in higher crime areas, the rates will be higher due to a higher likelihood of break-ins. Sometimes, you can lower your insurance rates by installing security measures like cameras and alarms.
8 Ways to Lower the Cost of Your Homeowners Insurance
Your mortgage is the primary expense for your home, and it’s important to factor in the cost of your homeowners insurance as well for budgeting purposes. Fortunately, there are ways to lower your homeowners insurance through different methods. Here, we’ve listed different ways you can get better rates for your home insurance.
Improve your credit score: Many states allow insurance providers to use your credit score as a factor. By improving your score, you can likely lower your rates.
Bundle your policies: You may be able to bundle your home and car insurance for a better price on both.
Do some renovations: An old roof or out-of-date parts of your home may increase your rate, so it might be worth it to do some renovations.
Opt for the higher deductible: Although you’ll have to pay more when you file a claim, a higher-deductible policy can save you on your annual rate.
Compare insurance quotes: There are many different homeowners insurance providers, so it may be helpful to shop around to find the best price.
Try an independent agent: You don’t have to work with an insurance company directly. Some independent agents are licensed insurance professionals who can offer you a good deal.
Get the right coverage: Educate yourself about what coverages you need and which you don’t. Some people may pay for coverage they won’t need to use.
Check for discounts: There are a variety of discounts you could get in addition to bundling your policies. Your provider may offer a loyalty discount, an alarm system discount, or a claims-free discount.
Methodology
The primary source of this data comes from Bankrate. To conduct their analysis, Bankrate uses the data provided by Quadrant Information Services. The data comes from various insurance providers across all 50 states as well as Washington, D.C., for 2023.
The average rates use the following base insurance profile:
Homeowner: Male, 40 years of age
Dwelling coverage: $250,000
Personal property coverage: $125,000
Liability coverage: $300,000
Loss of use coverage: $50,000
Medical payments coverage: $1,000
Repair Your Credit Before Getting Homeowners Insurance
Depending on your state, your credit score may play a significant role in your homeowners insurance rates. By improving your credit score, not only can you potentially save on your home insurance rates, but your credit score can also help you when purchasing or refinancing your home.
Credit.com offers a free credit report card that provides you with an analysis of your credit health. You can also utilize our ExtraCredit® subscription for additional credit reporting and other services.
Outside of buying a home, purchasing a vehicle can be one of your most costly expenses. Early this year, as the cost of new cars reached new heights, many drivers held off on signing on the dotted line.
But the industry is finally shifting as vehicle inventory stabilizes and manufacturers offer more incentives. Brian Moody, executive editor at Autotrader, says it’s good news for those looking to buy. Consider how the industry’s current state might make this fall season a fine time to finance a new set of wheels.
New vehicle prices are holding steady
The average price Americans paid for a new vehicle in August was almost flat compared to one year ago, according to data from Kelley Blue Book (KBB). It now stands at $48,451, an increase of less than $50 from last year. Growing vehicle inventory and incentives helped make prices more accessible.
Even more remarkably, new vehicle transaction costs are down 2.4 percent compared to January, which KBB called “the most significant decrease in the past decade.” But despite prices’ downward trend, high interest rates have made many hesitant to set out to the dealership. These rates offset any wins that a lower price tag carries.
“The other costs associated with buying a new car specifically are higher,” Moody says.
According to recent Bankrate data, new car buyers getting a 60-month car loan received an average interest rate of 7.51 percent in late September. Without a down payment, a rate like this can mean a monthly payment of up to $970 for the average new car.
Interestingly, though, higher interest rates have positively impacted the bottom line for car buyers, Moody explains.
“In a way, they’re playing to the consumer’s benefit because ultimately you have to pay what you have to pay, but it is helping the prices stay steady because the dealers and the people who are pricing these know they can’t just keep raising the price,” he proposes.
Dealerships know the challenges shoppers face and aim to avoid pricing out entire populations before arriving at the dealership. With this in mind, many dealers have adjusted by upping dealer incentives.
Increase in dealer incentives
A dealer incentive is a perk offered to buyers by the dealership. These can be cash rebates, lower rates or vehicle upgrades. Last year, incentives were low due to supply chain issues. With demand high and supply low, dealers had little reason to offer generous incentives.
But these buyer perks jumped for the eleventh consecutive month in August, KBB found. The average incentive package was 4.9 percent of the entire price, up 2.3 percent at the same time last year. But still, these incentives remain historically low.
For context, incentives back in August 2020 averaged 10.8 percent of the average transaction price (ATP). However, some vehicle sectors offer incentive rates close to pre-pandemic levels. Of the sectors with the highest incentives, the high-end luxury segment provided the most for its buyers, reaching 10.1 percent of ATP.
Vans, small and midsize pickup trucks and high-performance cars held the lowest available incentives in August.
A high down payment also helps to offset the price
Another way to save money on your monthly payment is to put down a large down payment — ideally, at least 20 percent. Calculate how much more money down can save you.
Available vehicle inventory has grown
The pandemic resulted in supply chain issues across industries, including the automotive sector.
That meant fewer new vehicles were produced, resulting in higher prices. Even those who could afford higher-priced vehicles could not find their desired car.
But there has finally been a shift in the market. Data from Cox Automotive in early September, ahead of the ongoing United Auto Workers strike, reported 2.06 million in total inventory, which has not happened since April 2021.
“There’s tons of supply versus, say, a year or so ago, when we were talking about not much inventory in terms of new cars, especially,” explains Moody. But now, he says, “There’s an abundant supply.”
On top of overall inventory growth, a larger variety of vehicle types has also positively shifted the market. The EV sector, for example, had vehicle availability above the industry average in early September, according to KBB. The sector boasted incentives averaging 8.1 percent of ATP.
Moody explains that an increase in electric car models leads to increased competition, which is favorable even for those not looking to drive green.
“That’s the story that I think people miss about electric cars. Everyone gets all hung up on, ‘Well, I don’t want to drive an electric car, and why are they forcing us,’” Moody quips.
But more choices mean more competition across automakers and thus more consumer benefits, Moody concludes.
Not all vehicles cost the same
For example, purchasing a compact car will save you additional money over a larger truck. Check out Bankrate’s best-value cars before shopping for the best deals.
How to save for future vehicle purchases
Although vehicle prices have remained steady, and the increase in inventory bodes well, prices are still very high. And growing inflation and moves made by the Federal Reserve will make financing your vehicle more expensive.
Consider the following tips to get the best deal on your next auto loan purchase.
Buy electric. While EVs tend to carry a higher initial cost, they can cost less throughout ownership. On top of this, August data showed a continued decline in electric vehicle prices, driven by Tesla’s price cuts.
Consider shopping with a credit union. With high interest rates, it is wise to compare multiple lender options. Check out credit unions, as they often offer lower rates than dealerships and online lenders.
Improve your credit. The stronger your credit score is, the more competitive your rates will be. Before applying for a loan, try improving your credit to secure the best rate.
Apply for loan preapproval. While not all lenders offer this perk, loan preapproval will give you a firm idea of the expected cost and leverage for negotiation.
Outside of these tips, Moody has straightforward advice for those who might purchase a car this year: “Just don’t overextend yourself.”
While purchasing a flashy luxury vehicle can be tempting, it is not worth the risk if it pushes your budget over the edge. Take the time to calculate the true cost of ownership, including any additional costs, and consider how your terms will impact your monthly payments.
Moody says a successful purchase requires three things. Buyers should be realistic about the price, look for the most attractive incentives and have a strong credit score.
With those in mind, Moody thinks drivers “can find a good deal and can potentially be paying less from here on out going forward.”
Are you looking to learn how to find a free car? Cars are expensive. There’s no doubt about that. Is it possible to get free cars? Getting a free car may sound too good to be true, but it’s possible for people who meet certain requirements, which we will talk about below. In this article,…
Are you looking to learn how to find a free car?
Cars are expensive.
There’s no doubt about that.
Is it possible to get free cars?
Getting a free car may sound too good to be true, but it’s possible for people who meet certain requirements, which we will talk about below. In this article, I’ll show you how to get a free car through different ways, from charity donations to assistance programs, and more.
I understand that there are so many people who would benefit from a more affordable transportation option. After all, a car can be essential to landing a job, getting to work, helping you pick up and drop off your children at childcare (so that you can work!), getting groceries, and so much more.
Low-income families, single parents, individuals with disabilities, veterans and their families, and so many others may particularly benefit from getting free vehicles to improve their quality of life.
Whether it’s making it easier to get to work, taking the kids to school and childcare, or simply attending important appointments, acquiring a free car can have a significant impact on your daily life.
Related content:
Why do free cars exist?
Free cars exist to help people who need transportation.
There are many organizations whose sole purpose is to help you get a free car because they know how much it can change a person’s life.
Below are some organizations that may help you find a free car:
Nonprofit Organizations— Some nonprofit organizations give away cars for free to those who need one. They work with local partners and households and accept donations of old cars and used cars, which are then fixed up and given to those who need them. These organizations usually target specific groups of people, such as low-income families, working families, single parents, military families, or disabled individuals, who may find it hard to afford a car on their own.
Churches and Private Charities— Churches and private charities may offer car help in your community as well. They usually work on a smaller scale, providing help to local residents experiencing hardships and may just give out a free car here and there. These organizations often rely on donations from members of the community and local businesses, and they require applicants to demonstrate a genuine need for a vehicle. You may need to contact local churches and charities directly to learn more about how to get a car for free.
People donate their used cars all the time. Their reasons may be either because they have no use for the car, they want to avoid the hassle of selling a car, for tax breaks, or they want to help others.
Who can benefit from free cars?
There are many people who can benefit from a free car, such as:
Low-income families— If your family is struggling with money and you are finding it hard to afford your bills, you might be eligible to receive a free car if you can show your need to an organization.
Single mothers and single parents — Single moms and parents need transportation so that they can get to work and also be able to bring their children to childcare. Not having a car can make this much more difficult.
Domestic violence victims — Having reliable transportation can be important for the safety and well-being of domestic violence victims. Some organizations have experience providing a free car in this situation and understand the need for privacy.
Disabled individuals — If you have a disability, you might be eligible to receive a free car to help you get around and be more independent.
Veterans and military families — Veterans and military families can also benefit from free car programs. There are organizations dedicated to providing assistance to those with a military background, to repay them for their service and sacrifices.
Victims of natural disasters — If you have experienced loss from a natural disaster, then you may benefit from many charitable free car organizations.
Of course, there are many more people who could benefit from finding affordable transportation as well. This is not a full list of those who might need a free vehicle.
Now, you do want to be cautious with getting a free car. If you are receiving government assistance, such as housing assistance, welfare, or food stamps, then accepting a free car may be considered income and it can affect your benefits. This is something that you will definitely want to think about as you do not want to lose these benefits.
How To Get A Free Car
There are organizations that help you get a car when you need a free vehicle. And there are other ways to find a free car as well. Below are some of the options that you may want to look into:
1. 1-800-Charity Cars
1-800-Charity Cars (also known as Free Charity Cars) is a nonprofit organization that provides free vehicles to eligible people, including domestic violence victims, the medically needy, victims of natural disasters, veterans and military families, and families transitioning from public assistance to work. It was the first charity of its kind in the nation.
This is the original free charity cars organization and they have given away over $70,000,000 in cars (over 9,000 cars) nationwide since they started the organization in 1996.
To apply, you will need to meet their eligibility criteria and submit an application on their website. Some of their eligibility requirements include being over the age of 18, being a resident of the U.S., having a valid driver’s license, being at or below 200% of the Federal Poverty Level, and having a genuine need for a vehicle.
This is a good place to start if you need a free car and you’re wondering where can I get a donated car for free.
2. Vehicles for Change
Vehicles for Change was started in 1999 and has given out over 7,500 cars to low-income families for little to no cost.
This organization helps residents in the states of Maryland and Northern Virginia. Cars are repaired and restored by people seeking workforce training as auto mechanics.
Donated vehicles are provided to families in need who meet their eligibility requirements. Eligible applicants must have a verifiable job offer or be working at least 30 hours per week, have no DUIs, and have a valid driver’s license to begin the application process.
3. Good News Garage
Good News Garage is a car donation program to look into if you’re trying to find a free car. They provide refurbished free cars for low-income families that meet their eligibility requirements. They give out around 200 cars to families in need each year and have provided around 5,500 cars since starting in 1996.
This organization is available for those in need who live in the New England area of Massachusetts, Vermont, and New Hampshire.
Good News Garage also has a transportation program. If you need to get to a job or get your children to childcare, then their program Ready To Go may be able to help you with this as well.
4. Online Car Donation
OnlineCarDonation.org is another platform that donates refurbished vehicles to needy individuals and families.
Online Car Donation gives free cars to people such as those with physical challenges, families living in homeless shelters, military families, and more.
You can apply by filling out their application form on their website and providing the required documents to prove your eligibility.
After you submit your application for a free car, if you are chosen, you will be contacted within 30 days. If you do not hear back within that time frame, their website says you can apply again as applications are only valid for 30 days.
5. With Causes Charitable Network
The WithCauses.org Network helps individuals and families in need by providing resources and assistance, which includes help getting a free car. The eligibility requirements may vary, so visit their website to find out if you qualify and how to apply.
6. Salvation Army free car program
The Salvation Army offers a free car program for eligible candidates.
They mainly focus on helping domestic violence victims, families in dire financial situations, and the homeless. Visit your local Salvation Army branch to inquire about their car donation program and how to apply.
7. Cars 4 Heroes
Cars4Heroes donates free cars to first responders, military veterans, and their families who are in need of transportation.
Cars 4 Heroes was started in 1996, and the organization currently gives away over 300 cars a year in the Kansas City, Kansas, metro area.
You can fill out their application form on their website and provide the required documentation to be considered for a free car.
8. Local church
Your local churches or other religious institutions may have programs that provide free vehicles to families that need help getting a car.
You may want to contact your nearby churches to find out if they have any car donation programs and how to apply or if they have eligibility requirements. They may know someone that they can connect you with to help you get a free car.
9. Check Facebook Marketplace and Craigslist
Many people often give away their cars or sell them at low prices on platforms like Facebook Marketplace and Craigslist.
If I was wondering about free cars near me, then I’d browse through these websites regularly to find out if anything is available. The search can be customized by entering your budget and location to see if anything suitable turns up.
10. Find a job that gives you a free car
There are jobs that may give you a free car as well, in case none of the above options works for you.
Some job positions that may come with a company car include sales representatives, district managers, or regional directors who spend a lot of time traveling between different offices.
To start your search for jobs that give you a car to take home, you can look for job postings with phrases like “company car provided” or “full-time vehicle provided.” Job websites such as Indeed, LinkedIn, and Glassdoor make it simpler to find such job listings by using specific keywords, so you may try searching for those. I did a quick search and was able to pull up jobs easily by typing those phrases into the keyword search bar.
Some employers might offer a car allowance instead of providing a free car. In this case, you would receive a monthly stipend to use toward your vehicle expenses. This would offset some of your car expenses, such as monthly payments or maintenance.
Also, if you know someone who currently has a company car, you can try asking them for tips and advice. They might even refer you to open positions at their workplace, and this can help you get a job with a free car as well.
11. Look for a free dealer donation
Dealer donations are a little more difficult of an option, as car dealers are in the business of making money, not giving away all of their cars that make them that money.
But, it doesn’t hurt to try if you have the time to write a letter and reach out to a car dealership.
To obtain a car dealer donation of a free used car, you’ll want to start by seeing what local dealerships are in your area. You can research their involvement in charitable activities to see if they even give out free cars (maybe do a simple search of the dealership’s name plus the term “free car” or something like that), as this will show you that they are open to the idea of donating a vehicle to those in need of a free car.
Once you have a list of local dealers to reach out to, there are ways to get a free car from a dealership. You can write a letter talking about your situation and reasons for requesting a donated car. You should talk about your struggles and the positive impact the donation will have on your life (such as, what a donated car will help you do).
When writing your letter for a free dealer donation, here are some things to think about:
Write the letter to the dealership’s owner or general manager, as they will likely have the authority to approve a car donation or be able to talk to someone who does have that authority.
Explain your situation fully and provide the specific reasons why you need a car.
Talk about how a car donation would improve your life and allow you to overcome challenges or achieve goals.
Provide information on any relevant programs or resources, such as a community organization or nonprofit, that may support your request for a free car.
After you have written your letter, submit it to the dealership. You may do this by sending it to the physical mailing address of the person, their email address, or perhaps even handing your letter to them in person.
Here are answers to common questions you may have about finding a free car:
What are other transportation options if I can’t find a free car?
There may be a long waiting period if you are applying for a donated car. If you are not able to find a free vehicle, then you may need to look into other options to get around town. Here are some ideas on how to get around if you don’t have a car of your own:
Public Transportation— If you live in a place with public transportation, then this option is something to look into. One great thing about public transportation is that you won’t have to pay to maintain a vehicle or repair anything. Of course, public transportation sometimes takes longer and may not be widely available to you (unfortunately, there are many towns in the U.S. that do not have great public transportation options), and that is something to think about. Also, more and more cities offer public transportation at no charge. You may have to apply for a special card to get this free service, or it may be available to everyone. It’s worth asking around about because it can save you hundreds of dollars a month.
Carpooling — Carpooling is an option to think about if you are unable to find a free car, especially for people who live in areas with limited public transportation. Car owners may be looking for riders so that the expense of ownership is offset a bit. You’ll need to share the cost of expenses, such as gas, tolls, parking, and wear and tear. You may be able to share rides with coworkers, friends, or neighbors. To save money, you could offer to trade babysitting, gardening, or home repairs for the ride. Also, check out carpooling apps that apply to your local area.
Rideshare Services — Now, rideshare most likely won’t be the most affordable option, but sometimes you don’t have a choice. Rideshare services, such as Uber and Lyft, may be able to get you to where you need to go if you don’t have any other options. To save money, use an app that compares rideshare companies and finds you the cheapest price. And, as far as your work commute, it’s good to know that some companies offer rideshare services as a benefit to their employees and will pay for the full cost or part of it.
How can I find free cars given away near me?
Yes, you can find free cars given away near you. There are many local organizations that may be able to help you out. You can research the various charity programs in your area and see if you meet their eligibility requirements for a free car.
Many charities, such as Charity Cars, provide free vehicles to people in need. These organizations often target specific groups of people, like veterans or victims of domestic violence.
Next, reach out to local branches of organizations like the Salvation Army or Goodwill Industries. These organizations may also auction off donated cars at affordable prices. Reach out to your nearest branch to learn more about available vehicles and to find out if they hold any auctions.
Another option is Online Car Donation, which aims to provide free cars to as many people in need as possible. Fill out their application to see if a reliable used car is available for you. They also offer trucks, vans, and sometimes even modified vehicles for individuals with disabilities.
Remember to be patient but also to keep trying, as it can sometimes take time to find the right opportunity for a free car. And, many times your application is only good for 30 days, so keep in mind that you may have to submit it over and over again.
Is Free Charity Cars legit?
Yes, Free Charity Cars is a legitimate organization that connects eligible people with free vehicles. They have high ratings and many endorsements.
How to get a car if you can’t get a free one?
If you’re not able to get a free car, you do have some other options, such as learning how to get a cheap car and learning the best way to get a car loan with a low interest rate.
Here are my tips for finding a cheap car:
Shop around for cars that are affordable to you: Many organizations offering a free car may also give you the option of purchasing a refurbished vehicle from them at a much lower cost than elsewhere. Otherwise, check out your local dealerships, online car-selling platforms, and even Craigslist to find the best deals on reliable cars in your area. Don’t limit yourself to just one site; shop around and be patient until you find a car that fits your budget.
Buy a used car: Buying a used car rather than a brand new one can save you money. Pre-owned vehicles tend to be more affordable and can still offer reliable transportation.
Negotiate for the best price: Don’t be afraid to negotiate the price of the car with the car seller or dealership. They may be able to lower the price, especially if you can show them that similar cars are around for cheaper prices elsewhere.
Check your credit score: Before applying for a car loan, make sure that you know your credit score. A better credit score increases your chances of getting a lower interest rate on your car loan. If you can, I recommend you take the steps to improve your credit score (even while searching for a free car) in case you need to apply for a car loan.
You can learn more about building up your credit score at Everything You Need To Know About How To Build Credit.
Shop around for car loans: Just as you should shop around for the best car deal, you should do the same for car loans. Different lenders may offer different interest rates and loan terms.
Choose a shorter loan term: While a shorter car loan term means higher monthly payments, you’ll pay less in interest overall, making the car less expensive over the years.
There are plenty of options for finding cars that may not be entirely free but are still affordable to you.
Related content: Save Money With These Top Tips For Buying A Car
How To Get A Free Car — Summary
I hope you enjoyed today’s article on how to get a free car.
If you need a car but cannot afford one, there are several ways to possibly get a free car. Many programs and organizations exist to help people get a free car, especially if you belong to certain categories, such as low-income families, veterans, domestic violence victims, or those transitioning from public assistance.
Remember, you do want to be cautious with getting a free car as well. If you are receiving government assistance, such as housing assistance, welfare, or food stamps, then accepting a free car may be considered income, and it can affect your benefits.
To find free cars near you, it’s important to explore local nonprofit organizations, as well as community centers, churches, or social services agencies that may have information about free car programs or resources in your area. Some jobs come with a company car that you can take home.
Here are some potential resources to assist you in getting a free car:
Local nonprofit organizations
Online car donation websites
Community centers and churches
Social services agencies
Remember that just because you meet the eligibility requirements for a free car and apply for one, it does not mean that you will succeed. There are many people who would like to receive a free vehicle as well. However, you can increase your chances of getting a free car if you can show that you have a need and you have a story to share (since people personally review the applications to see who needs the car the most).
This doesn’t look like a great time to make bullish wagers on the mortgage market, what with rates hitting two-decade highs, and a vertiginous fall in originations following the post-pandemic bonanza. But Jeff Sprecher, founder and CEO of commodities and securities trading colossus Intercontinental Exchange (market cap: $64 billion), just made the biggest acquisition in his enterprise’s 23-year history on the conviction that streamlining and digitizing the paper-intensive, time-devouring task of securing loans on the nation’s ranches, colonials, and condos, and revolutionizing the staid way these staples are marketed represents, as he told Fortune, “the biggest untapped opportunity in financial services.” On Sept. 4, ICE bought home loan servicing and data analytics provider Black Knight for $11.9 billion, a price that exceeded the $8.2 billion Sprecher paid for his most famous deal, the 2013 purchase of the New York Stock Exchange.
In an exclusive interview with Fortune, Sprecher discussed how onboarding Black Knight “adds the final piece in the mortgage manufacturing process” and enables ICE to create never-before-seen platforms that provide homeowners with everything from an AI-calculated estimate of the price their dwellings likely command that very day to constant updates on the best new products, government sponsored and private, available for refis.
Black Knight is the latest, and biggest, move in Sprecher’s campaign to turn the mortgage journey from a slog to a snap
Sprecher built ICE as the pioneer in transforming exchanges dominated by traders shouting orders from “open outcry pits” into electronic platforms, a transition he engineered at the International Petroleum Exchange, the New York Board of Trade, and the NYSE. In recent years, he has been crusading to modernize the traditionally slow-motion home loan loop linking lawyers, notaries, and lenders, that takes around two months and costs an average of at least $8,000, into a low-cost, digitized sprint.
Between 2016 and 2020, Sprecher assembled three segments of the origination-to-closing continuum through acquisitions. The first puzzle piece was Mortgage Electronic Registration Systems (MERS), a giant database that catalogs owners and servicers of home loans, and tracks changes when mortgages, mortgage-backed securities (MBS), or servicing rights are sold. The second building block was Simplifile, a service that electronically records the loans at county offices. And in 2020, ICE paid $11 billion to enter the “front” or origination end of the market by purchasing Ellie Mae (named after the daughter in the ’60s comedy series The Beverly Hillbillies), a supplier of software that collects all the contract, appraisal, title, and other insurance documents in a paperless “e-closing” room, and deploys AI to identify the errors—a job left in the old-line mode to buyers’ and sellers’ lawyers that greatly lengthened the process.
Before the Black Knight acquisition, ICE rolled the three segments into an end-to-end, all-electronic offering called ICE Mortgage Technology. ICE holds dominant positions in three of the platform’s component parts. “Ellie Mae handles 50% of all originations, MERS has 85% to 90% of the registrations, and Black Knight holds 65% of the servicing market,” says Sprecher. “We touch nearly every home loan in some way.” The network itself is open, he adds, so that customers can either use the components on an à la carte basis, or choose the end-to-end solution. Sprecher insists that his model has already made big progress. “We’ve succeeded in getting thousands of third parties on the system, including real estate attorneys, brokers, servicers, and notaries,” says Sprecher. “The idea is to get everyone in the industry talking on the same automated system.”
Indeed, Sprecher notes that today, ICE is handling around 10% of all end-to-end home loan production on its digital platform. “That’s an increase from virtually zero mortgages handled electronically a few years ago,” he adds. He believes that once the Black Knight platform is fully integrated, ICE will be able to substantially reduce today’s typical cost of $8,000 or more, and cut the time from origination to closing to as little as a few days.
The Black Knight acquisition adds a new dimension to Sprecher’s quest: Empowering borrowers and lenders with a wealth of real-time data
In making Black Knight a centerpiece of his ecosystem, Sprecher is reaching beyond the mechanics of originating and closing loans, and exploiting opportunities for serving the over 70 million families already making those monthly payments. “A mortgage has four parties, the borrower, the ‘lender’ who’s the originator, the servicer, and the capital markets funder that usually buys the loan from the original bank or other lender,” says Sprecher. He notes that it’s the servicer that’s the borrower’s point of contact once the loan’s been made, since it’s the entity that sends the bills, collects the interest, principal, and insurance payments, and posts the statements. “Most people think the servicer did everything—originated the loan, financed it, and collects the payments. But in reality, the three functions are usually separate,” Sprecher observes. “Once the loan closes, the original lender, whether a bank or an online mortgage broker, has no connection with the borrower.”
Because of that fragmentation, says Sprecher, it’s up to borrowers to keep track of how much their home has gained in equity value, and what new, lower-cost products are available. “That information is crucial to deciding if they should refi, or if they can afford a new home,” says Sprecher. But the original lenders, he adds, have lost track of the customer for whom they originated the loan. “They usually don’t own or service the mortgage,” says Sprecher, “so they aren’t informing those customers of the new products that are available. The loan is now in an MBS. The lender isn’t following their payments history to get a view of their old client’s finances. They’re no longer marketing to the people who were once their customers.”
Sprecher envisions a new paradigm where lenders and borrowers receive loads of real-time information, giving the former far greater marketing reach, and the latter immediate access to the best deals. “Now, the borrower has to do a math exercise to understand their equity position and what they can prequalify for,” says Sprecher. “We want to put all of this together for them regardless of who is their servicer, who was the original lender, or who funded the loan. We want to get all of those parties thinking together in the same database that the borrower or lender, using an app, can call up instantaneously.”
Sprecher notes that ICE can feed info of a home’s details into the Ellie Mae algorithm to calculate its real-time value, showing the mortgage holder whether the price has gone up or down, and where it stands right now. Black Knight also sees reams of price data as the prime software provider for multiple-listing services. That helps customers determine how expensive a new house they can afford, and the size of a new loan they can qualify for. As a giant repository of info about the rates customers are paying and the balances they’re holding, Black Knight as servicer would serve as a crucial data source for the new ICE data stream.
The system would also prove a boon to lenders. “Now, they depend on a consumer they no longer have contact with coming back to them,” he says. “Using our database, they could continually market to that original customer. It allows the originators to have a client for life. It’s a lot like the relationship local banks had with folks years ago. People tended to stay with that bank for life. Now, the ease with which people move from place to place, and rise in online banking, has severed that link. But using our platform, lenders could stay on top of their clients’ needs, and clients would get automatic updates on the price of a new house they could afford given their daily equity position and the rates available.” And the platform would also show the nearby homes for sale in their price range.
It’s interesting that Sprecher seeks to restore the bonds of loyalty homeowners once felt for their neighborhood banks. If it works, it’ll lower costs for consumers—and mean big profits for ICE.
If you haven’t heard about Choice Hotels’ recent acquisition of Radisson Hotels Americas, here’s a key detail: It has opened some new points redemption possibilities.
Radisson has some incredible properties within the Americas, and the acquisition has made it much easier to redeem points for stays. This is the biggest reason I booked the Radisson Blu Aqua Hotel Chicago for my recent stay in the Windy City.
As a five-star property, it’s fairly costly. However, it was such a great deal on points that it made no sense to book anywhere else. Happily, the hotel turned out to be as nice as it appeared online. Let’s talk about it in this review.
Booking
I’ve made such a big fuss about the booking that I feel compelled to lead with this because — and I don’t say this lightly — this is the absolute biggest steal in Chicago.
However, rooms cost just 50,000 Radisson points per night. Thanks to the Choice acquisition of Radisson, Choice points convert to Radisson at a 1:2 ratio, which means 1 Choice Privileges point becomes 2 Radisson points.
I stayed for two nights at the Radisson, which came out to 25,000 Citi points for the stay. The cash cost for the hotel would have been $1,008.98, which means I redeemed those points for 4.04 cents each. This is far above NerdWallet’s valuation of most hotel points.
More than this, however, I also managed to spend just 25,000 points for a two-night stay in central Chicago. This beats the rates you’ll find with other hotel chains, including Hilton, Hyatt and Marriott.
Location
The Radisson Blu Aqua Hotel Chicago has an excellent location for tourists. After I arrived, there wasn’t a single instance in which I needed to use a car or other form of transit. The hotel is close to Navy Pier, Millennium Park, the Riverwalk promenade and tons of other tourist hot spots.
Accommodations
I have no elite status with Radisson, which meant I expected nothing in the way of benefits. Imagine my surprise, then, when I found out that my award booking had been upgraded to the top-tier Executive Queen room with a balcony. I have no idea why, but I’m not complaining.
The room was spacious, and because I was staying with a friend, we opted for separate beds. The room also had a desk with a chair.
We were on the top floor, which presented an interesting problem with the balcony. Namely, it was great to peer at through the window, but its wavy design and the whipping wind made it a little too terrifying to actually go outside.
There was a large television on one wall; the TV worked well for Netflix but errored out for an hour straight when we tried to use other streaming apps.
There was also a sizable closet, which included an ironing board, a hair dryer and a safe.
The room felt freshly renovated, which was especially nice in the bathroom.
I also appreciated the wide range of toiletries available.
However, if I have to lodge a single complaint, it’s this: The room had no carpeting, which meant every sound echoed.
That isn’t normally an issue for me, but it certainly was for my friend when I arrived at 1 a.m. and attempted to tiptoe across the vast, cavernous space.
Food and beverage
Because I received no elite benefits, such as free breakfast, I avoided the restaurant option in the hotel. The only choice available, the FireLake Grill House and Cocktail Bar, appeared to be popular for a sit-down breakfast, lunch or dinner, as well as drinks. The restaurant is on the ground floor and is open the following hours:
8 a.m. to 8 p.m. Sunday to Monday.
8 a.m. to 11 p.m. Tuesday to Saturday.
Amenities
The Radisson Blu Aqua Hotel Chicago is a city hotel but still has amenities like massages, a fitness center and pools.
Pool
I’m not sure how many folks are using these amenities because the majority of the guests seemed to be tourists or business travelers, but there are two pools available at the hotel. Both are lap pools, though the outdoor one is seasonal.
Gym
The hotel also has a gym with plenty of cardio equipment, including treadmills, stair climbers and ellipticals. It even features an indoor basketball court.
Spa
There isn’t an official spa available at the hotel, but the Radisson has partnered with a local massage company to organize massages in your room.
The pricing is a little steep, but it was nice to know the option was there.
How to get to the Radisson Blu Aqua Hotel Chicago
Chicago has two airports within its city limits: O’Hare International Airport (ORD) and Midway International Airport (MDW). It’s simple to fly into these airports because they’re well connected throughout the United States.
If you’re looking to redeem points, ORD is a hub for United Airlines, so you’ll be able to find plenty of daily flights no matter where you’re located. MDW is a hub for Southwest, so if you’re interested in bringing a bag, it might be a better bet because all passengers get two checked bags for free on Southwest.
I flew into ORD late at night, and rather than deal with a train or even Uber, I opted for a taxi right out of the baggage claim area. It cost me $50 but was worth it for the convenience.
Because it was so late, the 18-mile journey took only about 25 minutes. If you travel during the day, expect to find traffic, especially during rush hour.
If you’re looking to stay at the Radisson Blu Aqua Hotel Chicago
I greatly enjoyed my stay at the Radisson Blu Chicago, mainly because it’s a nice hotel with a great location.
However, even if it were only middling at best, I’d still come back. There’s simply no other reason to stay elsewhere when I can pay 12,500 points per night for a five-star hotel in the city center.
The information related to Citi Prestige® Cardhas been collected by NerdWallet and has not been reviewed or provided by the issuer or provider of this product or service.
(Top photo by Carissa Rawson)
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
Inside: Looking to celebrate Christmas on a budget? This guide has you covered with creative and affordable ways to do just that.
Are you stressed out about how to afford a fabulous Christmas on your budget? Worry not.
This festive season isn’t about how much cash you fork out, it’s about creating lasting memories and spreading joy.
Why let financial woes dampen the joyous yuletide spirit when you can celebrate a charming Christmas on a budget?
Remember, it’s your money, your decisions, and your rules – no guilt trips or social pressures should force you into spending Christmas in debt.
Today you will learn:
Determine your Christmas budget: Figure out what’s a comfortable amount for you to spend and stick to it religiously.
Be creative with gift giving: Homemade presents or heartfelt letters can be more valuable than pricey items.
Find simple ways to save money: Use these money saving tips to enjoy a festive holiday season.
This holiday season, celebrate responsibly, within your means, for a Christmas that’s merry, bright, and totally guilt-free!
Why Celebrate Christmas on a Budget?
Embracing a budget-friendly Christmas can prove to be not only a smart choice but one filled with warmth, delight, and genuine joy.
Enjoy valuable family bonding time with exciting games and shared activities. Volunteer work, a day of holiday baking, or a simple drive-through Christmas lights sightseeing trip can leave a lasting impression. Look through this Christmas bucket list.
Opt for economical, yet thoughtful gifts or stick to fun gift exchange rules, such as the “four gift rule” for your kids. Remember, it’s the sentiment behind the gift that matters the most.
In essence, an economical holiday season needn’t be a dull affair, rather it’s an opportunity to make it more heartfelt and unforgettable.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What to buy for Christmas on a tight budget?
Yes, friend, you can buy meaningful Christmas gifts while sticking to a budget.
In fact, the thought behind a gift is often what makes it special, not the price tag.
A few ideas include homemade gifts, gift cards, subscriptions, and second-hand items. With a little creativity, you can find the perfect present for everyone on your list without spending a fortune.
Below you will find plenty of great gift guides for Christmas that won’t break the bank.
Benefits of a Budget Christmas
1. Allows you to plan ahead and stay on track 2. Prevents overspending 3. Buy gifts that are within your budget 4. Focus on quality over quantity 5. Ensures that everyone gets a gift 6. Helps you avoid debt during the holidays 7. Prevents you from feeling stressed out about money during the holidays 8. Be creative and come up with unique gifts 9. Save for next year’s holiday budget 10. Stay connected to the spirit of the holidays
Savings with Christmas on a Budget
From homemade Christmas decorations to unique gift ideas, it’s possible to create magical moments that’ll last a lifetime without a hefty price tag.
Embrace the true spirit of Christmas – love, family, and togetherness, rather than commercialism, and read on to discover how.
Learn the simple ways to celebrate the festive season without breaking the bank with our creative and budget-friendly Christmas ideas.
1. Think about a No Gift Christmas
Having a No Gift Christmas is a creative and budget-saving alternative to traditional holiday festivities, especially suitable if funds are tight. Why not consider it?
Here are some benefits:
You can alleviate the holiday stress often associated with spending on gifts.
It fosters the idea of Christmas as a season of togetherness, not just gift-giving.
It offers the potential for unique and memorable experiences, like volunteering or creating fun traditions with your loved ones.
Remember, having a memorable Christmas doesn’t have to cost much, or anything at all Learn more about a no gift Christmas.
2. Make Your Own Gifts
DIY Christmas gifts are your perfect solution. They not only save pennies but are laced with your love and creativity.
Start by exploring plenty of creative gift ideas available for free online. Need help? Look for “homemade gifts for Christmas” and you’ll be surprised.
Compile a list of possible gifts from homemade candles to personalized coupon books, keeping the recipient’s likes in mind.
Remember, your efforts will reflect in your gift. So, unleash your creativity and let the magic begin.
3. Borrow Instead of Buy
Borrowing instead of buying is a clever way to have a festive holiday while keeping things budget-friendly. This concept is simple: swap decorations, games, or even gifts with friends, neighbors, or family
Discuss your idea with your circle and organize swapping parties to exchange items.
The key is to creatively engage and make it a fun, budget-conscious activity. After all, Christmas is about sharing and caring!
Remember, return borrowed items in their original condition to maintain trust.
4. Attend Free Events
The Christmas season doesn’t have to be a strain on your wallet. Attending free community events can provide fun and festive celebrations:
To find these events, check your local newspaper or community websites. Be sure to:
Take advantage of free refreshments, but also bring your own to share.
Consider hosting a potluck dinner before or after community events.
Attending free events supports your local community.
Remember, Christmas is about togetherness, not extravagant spending.
5. Make Your Own Decorations
To create a festive atmosphere this season, you could repurpose items around your house or make your own decorations.
Choose a color theme and gather items in those shades, then place them together on a mantel or coffee table to create a coordinated layout.
For a natural touch, clip pine needles, branches, or herbs from your garden, and enhance them with glitter.
Additional budget-friendly options include taking advantage of sales and discounts at thrift stores or crafting handmade decorations such as ribbons from fabric strips or Christmas cookie ornaments.
6. Keep Track of Your Christmas Expenses
Just like throughout the year, budgeting is critical to your financial success.
Nothing changes with Christmas, it is crucial to track and budget your holiday expenses. Jot down every potential cost – from the Christmas tree, and food, to holiday décor.
Be thoughtful about what you really need and opt for items you can use for years.
This is one of the cash envelope categories I recommend saving for. To effectively manage your expenses, assign specific dollar amounts to each item on the list, ensuring you stay within your budget.
Enjoy guilt-free spending and effortless saving with a friendly, flexible method for managing your finances.
Start Your Free Trial.
7. Share the Spirit
Embracing frugality during the holiday season can not only help you save money, but can also create memorable experiences and meaningful connections.
Small gestures, such as sending heartwarming physical letters to loved ones instead of emails, can still convey thoughtfulness and spur the holiday spirit.
By centering your holidays around family activities and endeavors, like homemade ornaments or a scavenger hunt with small gifts, the focus shifts from materialism to fellowship and unity.
Find more frugal Christmas ideas.
8. Check Out Bargain Stores
Bargain stores provide the perfect solution for savvy holiday shoppers looking to save money without compromising on quality or variety. Not only can you find unique, quirky gifts, but you can also keep a lid on your spending while doing so.
Stores like consignment shops or websites such as Craigslist often have high-quality used toys that are nearly new if you’re willing to look carefully.
Another option is to look at discount retailers like TJMaxx as they often host sales during the holiday season, making it even easier for you to save money while hunting for the perfect gifts.
9. Save Money Throughout the Year
Automating your savings for the Christmas season can be a practical and efficient strategy. The 100 envelope challenge is perfect for this!
By setting aside just $50 each month, you could accumulate up to $600 by December, providing a decent budget for your holiday expenses. This method can ease the financial stress during the holiday season, letting you enjoy the festivities without worrying about overspending.
Consider setting up automatic transfers to a high-interest savings account. This ensures your Christmas funds grow without your intervention.
Lastly, try a no-spend month where you only cover essential bills, giving your savings a significant boost.
10. Start a Side Hustle for More Money to Spend
Engaging in side hustles throughout the year can help you significantly cover your holiday expenses.
By delivering food, completing microtasks, selling gently used items, or shoveling snow, you create extra earnings that can go directly into your Christmas fund.
For instance, extra income from a seasonal retail job could help finance gift-purchasing without straining your usual budget.
This strategy not only prevents potential post-holiday debt but also allows you to enjoy the season without financial stress.
In fact, more people are interested in how to make money online for beginners.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
11. Shop Online Instead of Going to the Mall
Shopping online for your Christmas gifts can seriously ease your holiday stress, and potentially save you money.
Let’s explore why skipping the mall and clicking your way to a merry Christmas might be your best bet this year:
No dealing with holiday crowds or cranky shoppers.
Enjoy sales and deals without leaving your home.
Track prices over time to grab the best deals.
Use Rakuten to save even more money on purchases.
For smart online shopping, prepare a list of gifts before diving in. Take advantage of the “wish list” option on platforms to curate items of choice and make sure you first glance over deal sites before making purchases.
12. Have a Christmas Potluck
Host a festive potluck! Invite friends and family, asking each to bring their favorite dish.
Here are some tips for a successful event:
Get organized and ask guests to bring specific types of food. This prevents duplicate dishes and ensures a balanced meal.
Introduce a fun element. Try a cookie swap or a silly game like “Guess the Cookie.”
Keep decor simple. A large vase filled with greenery and baubles can effectively replace a pricey Christmas tree.
Remember simplicity is key in food and decor. Costly ingredients and complicated recipes aren’t prerequisites for a memorable Christmas.
Remember, the holiday is about togetherness, not extravagance!
13. Make Your Own Cookies
There’s a unique pleasure derived from making your own cookies during the holiday season instead of buying them. More so, the cookies you’ve invested your time and creativity into can double as thoughtful, homemade gifts, adding another level of sentiment.
Apart from being a cost-effective option, it brings an opportunity to bond with friends and family during cookie exchange or decorating gatherings.
Making your personally crafted cookies also gives you control over ingredients catering to specific dietary needs or preference
Indeed, making your own cookies adds value that surpasses the mere cost savings, it infuses the holiday season with warmth, joy, and a sense of shared experience.
14. Cross Off Activities from your Christmas Bucket List
Having a joyful Christmas doesn’t necessarily mean overspending. In fact, integrating cost-effective activities into your holiday routine can make the season more meaningful and fun.
This Christmas Bucket list post offers an extensive and diverse list of creative ideas for budget-friendly Christmas shopping, gifting, and celebrating.
Additionally, downloading the free printables and a Christmas Budget Template will make the process even more manageable and fun.
15. Have a No-Gift Party
A no-gift Christmas party is an affordable and fun holiday celebration where attendees do not exchange gifts. It’s a great option for those looking to save money and still enjoy the festive season.
Here are steps to make it happen:
Step 1: Decide on the party type, either a simple gathering or a potluck dinner.
Step 2: Inform guests about the no-gift policy in advance.
Step 3: Organize exciting, cost-effective activities such as a game night.
Step 4: Engage guests with games for a joyful event.
Expert Tip: Conversation and laughter are your best tools.
16. Make a Christmas Memory Book
Creating a Christmas memory book is an affordable and engaging way to celebrate the holiday season, especially when you’re on a tight budget.
To start, you can utilize items already at your disposal in your house such as old photos, greeting cards, and crafts.
Spend some time penning down heartfelt messages and your favorite holiday memories associated with each picture or craft. Embellish the pages with affordable decorating materials like glitter, stickers, or color pens.
Not only does this create a personalized touch, but it also serves as a nostalgic keepsake that can be cherished for years to come.
Tip: Digitize your memory book by creating an electronic version. This can also help preserve the original items.
17. Spend Time With Loved Ones
Celebrating Christmas on a budget doesn’t mean skipping on the fun.
It’s about cherishing time spent with loved ones, harnessing creativity, and making priceless memories that last a lifetime.
Here are some cost-effective activities you can embrace this festive season:
Share stories of memorable Christmas experiences.
Organize virtual celebrations with extended family and friends.
Create your own family-themed board game.
Bake Christmas cookies or make a popcorn Christmas tree.
Stream a Christmas church service.
If snow is around, engage in snow play.
Dance to classic Christmas music.
Put together an annual family calendar.
Participate in one of these Christmas Challenges!
Remember, it’s not about what’s under the tree that matters, but rather, who’s around it.
18. Stash Christmas presents all year
Do what I do! Begin addressing the issue of holiday budgeting by stashing Christmas presents all year round.
This is a smart and stress-reducing move!
Find deals throughout the year rather than spending lavishly in December. Hang on to items like discounted gifts in your secret gift closet!
As you build an inventory of diverse items, you will be ready for birthdays or sudden party invites – you’re always prepared!
Just be careful to stop shopping when your list is fulfilled to avoid overspending.
19. Write a Christmas Gift List
Creating a Christmas gift list can be an effective way to manage your holiday spending. This helps you understand the overall picture of your holiday expenditure.
Start by writing down the names of every person for whom you consider buying a gift.
Then, determine how much you’re willing and able to spend on each individual. This helps you understand the overall picture of your holiday expenditure.
Take time to brainstorm potential gift ideas within your decided budget for each person. This process can be even easier and more informative if you’re able to reference a gift list from previous years.
Ultimately, the goal is to ensure that your total intended spending is reasonable and manageable for your personal financial situation.
Remember, you may not need to buy gifts for everyone on your list – some individuals might appreciate homemade or free gifts just as much.
20. Choose Great holiday things to do for less
Set aside the societal notion of linking the joy of holidays to copious spending, and welcome small, inexpensive, yet heartfelt gestures.
Adopting a mindset that finds value in low-cost or even free activities, especially during the holiday season, can not only alleviate financial pressure but also create cherished memories.
Instead of focusing on extravagance and materialistic desires, turning attention to experiences and emotional bonding can revolutionize the celebration!
You can always find things to do on Christmas Day.
21. Think Outside the Box With Gifts
Finding affordable gifts doesn’t mean you have to sacrifice quality or thoughtfulness.
By utilizing a gift guide such as the 4 gift rule – something they want, need, to wear, or read – you can ensure a well-rounded and meaningful set of gifts for each child.
Alternately, consulting lists of inexpensive yet creative suggestions like those curated by Money Bliss can help you find unique presents that won’t break the bank. These affordable finds range from books, gadgets, to personal care items, and home accessories.
Regardless of budget, the key to successful gift-giving lies in understanding the recipient’s needs and interests.
22. Consider Re-Gifting
Re-gifting is a practical, budget-friendly, and environmentally-friendly way to celebrate Christmas. It allows unused or unwanted items another chance to be appreciated and might save you some cash too.
Here are some regifting tips:
Ensure the gift is in good condition, unwanted but quality, and not linked back to its original giver.
Consider the preferences of the new recipient, ensuring the gift suits them.
Completely re-wrap the gift to give it a fresh appearance.
Some may debate the etiquette of re-gifting but remember, it’s more about the thought and less about where the gift originated.
Making smart choices can ensure a successful and fun re-gifting experience this festive season.
23. Use Gift Cards or Cash App to Stay on Budget
Purchase a prepaid gift card from your favorite store to ensure you’re limiting your spending to a specific amount and preventing the temptation of overspending.
If you’re planning to shop from a range of places, opt for a Mastercard of Visa prepaid card. While there may be an activation fee, it’s ultimately going to be less than what you’d potentially overspend.
Another great option is using the Cash App card and learn where you can load your Cash App card.
Also, you can use budget tracker apps like YNAB or Simplifi. These can help you meticulously keep track of your spending and stay within your budget.
Remember, the key is to stick to a budget and avoid falling prey to impulsive purchases. Using gift cards or these budgeting apps makes it easier to limit and monitor your expenses.
24. Use Money Gift Ideas Wisely
Money gift ideas can be an excellent alternative to traditional presents, especially when budgeting is a critical aspect.
Too many times, money gift ideas are overlooked as impersonal, but a money gift box or money cake will definitely surprise the recipient.
This will guarantee you will stay within your target budget by using money gift ideas.
For larger families, a gift exchange with a set price limit can keep costs manageable.
25. Donate to Charity Or Volunteer
Volunteering at a charity is a meaningful way to give back during the holiday season that doesn’t put a strain on your budget.
Instead of buying more items a person may not need, you’re investing time, money, and energy in causes they care about. Although this doesn’t require a financial commitment, it’s a generous gift full of sentiments.
Furthermore, donating money to a charity in someone’s name is a thoughtful and effective way to honor someone who already has everything they need. It allows the recipient to feel the joy of giving, yet remains a budget-friendly option for the giver.
If you’re keen on frugal yet meaningful ways to celebrate Christmas, how about considering charitable donations? It’s a splendid alternative to traditional gift-giving – not hard on your wallet, plus it makes a difference!
Most people know it is hard enough to buy gifts for the woman you who has everything or kids who have everything.
How to Make a Christmas Budget
A lot of joy and goodwill is associated with the holiday season; however, it also brings with it the challenge of managing finances meticulously to avoid slipping deep into credit card debt.
One of the effective ways to keep your finances under control during this festive time is by creating an efficient Christmas budget.
In the following sections, we will delve in detail into the simple process of creating a feasible Christmas budget that you can adhere to.
Step 1: Decide What You Want to Spend on Christmas
Determining how much to spend at Christmas depends on your individual budget and financial situation.
On a general basis, most people will overspend at Christmas in order they don’t look broke or not generous.
However, that thought process is backward if you are trying to reach your financial goals. You need to decide on how much you want to spend at Christmas time.
That is why these consumable gifts tend to be popular.
Expert Tip: Avoid surpassing your Christmas budget to prevent feeling the pinch of holiday debt later on. Stick to your allocations and plan things out in advance.
Step 2: Make a List of Christmas Gifts
Creating a list is essential for budget-friendly and stress-free Christmas shopping.
This prevents you from forgetting someone important by intuitively documenting all the people you intend to get gifts for. Also, allows for the clear allocation of your total Christmas budget, preventing overspending on some individuals and under-spending on others.
If you aim to economize, consider the 4-gift rule: something they want, something they need, something to wear, and something to read. This method provides thoughtful gifts for children while maintaining a manageable budget.
More importantly, a well-planned list significantly reduces the time spent shopping and aids in buying gifts early before the holiday rush begins.
Expert Tip: Don’t forget to consider items like stocking stuffers, last-minute gifts, or teacher’s gifts, and the cost of extra food for holiday gatherings.
Step 3: Prioritize Your Spending
Prioritizing where to spend money relative to your financial goals is crucial to achieving long-term financial stability and health. It ensures that your money is allocated effectively, giving priority to necessities and matters that directly support your objectives.
This practice can also prevent unnecessary expenditures and helps in averting serious overspending, especially during high-spending periods like the Christmas season.
Thus, you will need to prioritize your Christmas budget before the festive season. It helps prevent overspending and keeps you debt-free.
Step 4: Limit Your Christmas Spending
First, it is important to abandon the notion of a “perfect Christmas” and focus on enjoying the holiday within your budget.
You can even educate your family members about the concept of holiday budgeting and involve them in your planning process.
Consider proposing less expensive alternatives to traditional gift-giving within your extended family such as handmade or recycled gifts, or conducting a white elephant exchange with budget-friendly novelty items.
Don’t overlook smaller gifting costs that can accumulate, like Christmas stockings – instead fill them with practical, affordable items that your family needs.
Save money on wrapping supplies by using items readily available at home like newspaper or butcher paper and involve the kids in a fun, cost-saving activity by having them create homemade gift tags.
Remember, sticking to your budget doesn’t mean letting go of the Christmas spirit. It’s about celebrating responsibly and starting the New Year without financial stress.
Step 5: Ignore Sales and Keep it Simple
Sales, sales, sales – the deal is too good to pass up!
Here are key ways to overcome this common dilemma.
Resist impulsive purchases compelled by sales, and stick strictly to your shopping list.
Pause before purchasing an item not on your list, consider the necessity.
Keep emotions in check, they run our shopping decisions.
Conquer emotional spending, stay true to your budget.
Discourage additional spending once your list is fulfilled and the budget exhausted.
Remember that it’s better to focus on affordable presents rather than seeking the perfect, but expensive, gift.
Step 6: Shop for Christmas Gifts Early
Start early. Begin watching for sales on items from your Christmas gift list way before the season’s rush.
Begin monitoring for sales early, especially during holidays that precede Christmas, to stretch your budget further.
Make use of Black Friday and Cyber Monday. They provide excellent opportunities to snag deals on your gifts.
Expert Tip: Remember to stick to your list. If it isn’t on your list, pass it up. It’s challenging but keeps your budget in check.
Step 7: Reuse and Recycle Holiday Decorations
Start by taking stock of items in your house. Don’t limit yourself to traditional decorations—choose a color theme and scan your home for items that fit and can be repurposed.
Use the resources outdoors. Pine branches, pine cones, mistletoe, and holly can be fashioned into decorations from nature’s catalog.
Even consider trading decorations with friends or family. This can bring a new look to your home without the need for new purchases.
Get creative with items from dollar stores that can be combined to appear high-end and save costs.
How to buy gifts for Christmas on a budget?
Maintaining a budget doesn’t mean you can’t enjoy giving gifts this Christmas.
Use these gift guides to help you out:
Remember, the joy is in the giving, not in the cost of the gift.
Time to Create Your Holiday Budget and Make it Memorable
Regardless of your financial situation and the extent of your holiday plans, this guide will help you maintain financial stability while fully embracing the Christmas spirit.
By setting aside a prescribed sum for your holiday expenses, you’re able to enjoy the season without the stress of unexpected expenditures or financial shocks after the holiday haze has cleared.
Celebrating Christmas on a budget doesn’t mean skipping the fun or the warmth.
With just a dash of creativity and thoughtful planning, you can make the yuletide season enjoyable and meaningful without breaking the bank.
Use the festive tips provided and start planning your budget-friendly Christmas now. Remember, the true essence of Christmas isn’t in extravagant spending—it’s about love, joy, and spending quality time with those who really matter to you.
Don’t forget to access a free printable worksheet for your customized holiday budget.
Know someone else that needs this, too? Then, please share!!
Inside: Are you looking for a safe and convenient way to buy and sell gift cards? If so, CardCash may be the perfect option for you. This comprehensive review will explore everything you need to know about this popular online marketplace.
Gift cards often seem like the perfect hassle-free gift solution, but receiving a card from a retailer that doesn’t align with your interests can result in unused potential and wasted money.
This is a common occurrence, with Americans currently holding around $21 billion in unused gift cards (source).
I know I have plenty of unused gift cards – probably around $300 worth laying around.
In response, companies like CardCash.com have stepped in to make these cards useful again and alleviate this universal frustration.
The simple goal is to help you extract value from those unwanted or unused gift cards by providing a platform to sell them safely. The solution not only converts unused cards into cash but also offers the opportunity to swap them for discounted cards from preferred retailers or a prepaid Mastercard.
Here is my CardCash review on the simplicity of getting cash for my unused gift cards.
In an era of savvy shopping and financial mindfulness, CardCash is a promising solution to make the most of every gift card.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What is CardCash?
CardCash is a valuable online platform you can tap into for buying, selling, and exchanging gift cards. A brainchild of Elliot Bohm and Marc Ackerman, it was launched in 2009 with the goal of solving the problem of unused gift cards in America.
Via the CardCash platform, you can:
Sell your gift cards for up to 92% of the card’s value based on the popularity of the retailer.
Use CardCash to purchase gift cards, at a discounted rate, in bulk from over 1100 brands including big names like Amazon, Walmart, Starbucks, and CVS.
Swap your gift card for another retailer. You won’t get the same value though.
Remember, though, you won’t quite get the full value of your card as CardCash keeps a small percentage.
Does CardCash pay you instantly?
No, CardCash does not provide instant payments with cash.
Instead, after your order is approved, payments are typically made within a 48-hour window. This is due to standard processing times.
However, if you select another gift card. That will be available once your order is approved.
The invoice for the gift card claims to offer approximately 92% of the card’s value, but it’s worth noting that the actual payout can be lower at times.
How Does CardCash Work?
CardCash is a brilliant platform if you’re looking to sell, buy, or exchange gift cards. Here’s a quick guide on how you can get started:
Sign up on CardCash.com.
To sell a gift card, enter the merchant’s name and the balance on the gift card.
CardCash will give you an offer; if you accept, you get paid via mailed check, ACH payment, or PayPal. Or you can opt for a Prepaid Mastercard or another retailer gift card of your choice.
To buy a gift card, browse through the list of available cards and pick one that suits you.
Proceed to payment and enjoy your discounted gift card!
Pro Tip: Always check the price differences between the card value and the purchase price for the best deals.
How much does CardCash pay for gift cards?
Contrary to what CardCash claims, you won’t receive the full 92% of your gift card’s value.
The actual amount you’ll get depends largely on how popular the issuing merchant is. For popular sellers like Amazon or Walmart, you might get closer to their claim, but not always.
Sadly, for less-known retailers, offers might sink as low as 50% of your gift card’s worth.
Pros of CardCash
Considering an online platform for buying, selling, or swapping gift cards? CardCash is definitely one to consider.
Personally, I wanted to test it out and today you can find my CardCash Review.
The distinct features of CardCash include:
A wide selection of gift cards from over 1100 retailers
Instant payment in cash or a swap for another gift card when you sell your unused gift cards
Exclusive offers and discount opportunities for regular users
Convenience as the platform is easy to use and provides a hassle-free experience for users who buy or sell gift cards.
Unused gift cards can be sold for cash or swapped for your preferred merchant’s gift cards, giving value to otherwise wasted money.
Very user-friendly: It’s simple and effortless to buy and sell gift cards on this platform – a massive plus for users.
With all these advantages, CardCash makes a pretty compelling case as your go-to online gift card marketplace.
CardCash, a reputable gift card marketplace, might just be the perfect match for your needs!
Cons of CardCash
Before you decide to use CardCash, it’s important to weigh the drawbacks of the platform against its benefits.
Recognizing these concerns helps you make an informed decision and avoid potential hiccups along the way.
Here are the top cons to using CardCash:
Lower Payouts: When you decide to sell your gift cards on the platform, you might receive lower payouts than you’d expect. Be sure to carefully evaluate these potential losses.
Merchant isn’t on Platform: Not all merchants are available on the platform, which is unfortunate.
Short Buyer Protection Guarantee: Compared to other gift card marketplaces, CardCash’s 45-day buyer protection guarantee feels rather insufficient. For comparison, Raise offers a guarantee for a full year.
Disappearing Balances: Many users have reported issues with their card balances mysteriously disappearing, which can be quite unsettling. Learnwhy this unfortunately happens.
Is CardCash Legit?
Yes, CardCash is legit.
They’re a longstanding player in the gift card industry, thanks to robust security measures and a user-friendly platform.
Established over a decade ago, they have experience in offering a secure platform for buying, selling, or trading gift cards.
How do you go about sending eGift cards to CardCash?
Converting eGift cards works essentially the same way as converting physical gift cards. You still get the same benefits whether you are converting eGift cards or physical ones.
All you need to provide is the relevant information about the eGift card.
The payment process for selling eGift and physical gift cards is the same.
You can receive payment in cash or you can exchange for another gift card of your choosing.
Expert Tip: Make sure to accurately provide all necessary details regarding your eGift card to ensure a smooth transaction process.
CardCash Common Questions
CardCash is a website that allows you to buy, sell, and trade gift cards.
I tested out the site with various gift cards as part of my Cardcash review.
As this concept may be new to you, let’s answer some common questions about CardCash and give you our honest opinion on whether or not it’s a legit website.
1. Are CardCash transactions safe?
CardCash transactions are generally safe.
As a reputable marketplace for gift cards, CardCash enforces strict security measures like other platforms such as eBay or Amazon. However, it’s important to remember that you’re dealing with third parties that could potentially misuse gift card PINs.
To counteract this, CardCash offers a money-back guarantee for unsatisfied purchases. For example, if a gift card you bought is exposed as fraudulent, you can get your money back.
Despite this, always exercise caution, and use common sense while making transactions.
2. Are there any fees when buying or selling a gift card?
When you’re buying or selling gift cards on CardCash, there are no fees applied to your transactions.
The platform allows free signup and doesn’t charge for usage.
Purchasing a gift card? Absolutely zero fees. All you pay for is the discounted cost of the card itself.
Selling a gift card? No worries, still no fees. After providing your card details and balance, you’ll receive an offer. If you accept, the payment goes directly to you via check, PayPal, or direct deposit with no extra charges.
For instance, you have a $50 Best Buy gift card. After inputting the details, CardCash offers $45. If you accept, the $45 is sent to you without any deductions.
3. Is there any risk of identity theft when buying or selling gift cards?
Identity theft is when someone unlawfully obtains and uses your personal information, often for fraudulent purposes.
No, there should not be the risk of identity theft when buying or selling gift cards.
4. Is CardCash safe to use?
CardCash is definitely safe for use.
Operating since 2009, the platform is not only registered but also provides users with advanced security measures to secure personal data and transactions.
With a physical address and listed contact number, assistance is always at hand. Think of CardCash like a vault – your unused gift cards are safe to sell on it and your personal details are locked away securely.
5. Does CardCash buy stolen gift cards?
No, CardCash does not buy stolen gift cards. That is 100%, not their intent.
When you sell a gift card to CardCash, they require you to provide certain personal details to comply with federal anti-money laundering laws. CardCash uses these details to verify the authenticity of the sale and the seller.
However, remember that CardCash is an online marketplace where third-party vendors sell cards. Although most users are honest, there’s a risk of encountering scams unfortunately, and you should always exercise caution when using the platform.
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6. Is it safe to buy gift cards with a credit card?
It is safe to buy gift cards with a credit card as long as you are using a reputable source.
When you use a credit card, you have the added protection of being able to dispute the charges if you do not receive the gift card or if it is not what you expected.
Make sure you are on CardCash’s legit website and you see the lock on the search bar indicating a secured website.
7. Are there any drawbacks to using CardCash?
One key drawback is the misleading discount rates.
Partner websites listed on CardCash may promise higher discounts than they actually deliver, leaving you scratching your head when your wallet feels lighter than expected.
As part of my Cardcash review, my Red Robin gift card valued at $25 would only receive $15.75 cash, which is 63% of its value.
Another significant concern is the 45-day buyer protection. Your best bet is to use your gift card within this limited time frame to avoid losses.
8. What are CardCash’s payout options?
For most, you want a direct, monetary form of compensation which is quite advantageous for those individuals who prefer having cold, hard cash as opposed to holding onto a gift card that they will never use.
Here are CardCash’s payout options:
Cash: CardCash allows users to sell their gift cards in exchange for cash. You can get a mailed check, ACH payment, or PayPal.
Prepaid Mastercard: Besides cash, CardCash also gives users the option to receive their payment via a Prepaid Mastercard. This is a convenient option, especially for those who like to keep their funds digital or for those who might not have convenient access to a bank.
Another gift card: One of the unique payout options provided by CardCash is the ability to exchange a gift card for another one. This option typically gives you a higher payout amount as well. But, you are limited to the merchants offered.
Just remember, payouts can fluctuate and might be less depending on the popularity of the gift card’s merchant.
9. Is it safe to sell gift cards on CardCash?
CardCash is a trusted platform where you can safely sell your unwanted gift cards.
However, keep in mind that you probably won’t get the full face value of the card, as the company keeps around 8-10% of its value.
Despite this, it’s a reliable way to make some money from unused gift cards. Card Cash is not a scam
10. What should I do if I have a complaint about CardCash?
If you’ve got complaints about CardCash, it’s crucial to voice them right away – that’s how issues get resolved.
Try reaching out to their customer support using the “Contact Us” form on their website.
If your complaint is due to balance discrepancies within 45 days of purchase, then email [email protected].
If that doesn’t work, send a detailed email to [email protected]. Be sure to mention specific problems and desired outcomes.
Most importantly, if there’s an issue with a gift card you bought, ensure you file a complaint within 45 days of purchase to receive a full refund.
My CardCash Review
Having firsthand experience with CardCash, I can share my insights about the process and how it measures up to my expectations.
Firstly, the process was indeed straightforward to navigate. The platform has been designed in a very user-friendly way that facilitates convenience and efficiency. It’s quite simple to get onboard, sell, or purchase a gift card.
However, there was a slight hitch – the value percentage offered. This slippage is more than I anticipated.
According to my experience and perception, the payouts for selling gift cards felt a bit lower than expected.
Here were the values I was given:
=> Olive Garden = 71% of value => Red Robin = 63% of value => Chili’s = 70% of value => DoorDash = not an option to sell
Gauging the 45-day buyer protection guarantee initially, it seemed impressive as it ensures a refund if the gift cards don’t function as advertised. However, there’s a catch – the gift cards should be used within this 45-day window, as the 45-day guarantee goes away.
In a nutshell, the experience with CardCash has been a positive experience. Personally, I would have rather been given the cash to use as a please versus a gift card.
However, all of the local gift card exchange kiosks don’t trade in gift cards. So, I felt my options were limited and chose to use CardCash.
FAQ
Yes, selling gift cards for cash is legit.
You need to use a verified site to avoid a scam.
A credit card is needed on CardCash for several reasons.
In order to use the service, you must have a credit card so that you can be properly verified. This is necessary in order to protect both the buyer and the seller.
This CardCash Review Should Help You
So, you’re considering CardCash for buying or selling gift cards, huh?
Well, on the positive side, CardCash offers an easy channel for getting rid of unwanted gift cards or buying new ones with a discount – sounds like a good deal, right?
Buying gift cards with a credit card from sites like CardCash can be safe, provided you take some precautions.
For me, it was a simple process and I chose another gift card.
Consequently, it’s important to remember that you’re purchasing second-hand gift cards, which could potentially have odd issues come up.
To ensure your value, make use of the 45-day guarantee. For example, if you’re planning a big purchase next month, buy the gift card now and make sure to use it within this timeframe. This minimizes the risk of being left with a worthless card after the guarantee period.
So, do your homework, understand how CardCash operates before diving in, or consider other options for more reliable service.
Just remember, while buying, you pay about 90-92% of the card value, and while selling, you get the same.
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I have often found that where technology and financial services come together, the no’s are necessary. As such, shouldn’t we learn to make them happen productively? Saying no is an inevitability — or rather, it should be. Anyone who has tried to accommodate the ‘yes’s’ all the time could tell you that it is impossible to say yes to everything.
Those who try to say yes 100% of the time are often mistaken in thinking it’s working effectively for them and for those around them — even the parties they’re saying ‘yes’ to.
But, saying yes to everything removes us from the equation and renders our point of view immaterial. It makes our judgement about the effectiveness or outcomes moot.
The privilege of saying no
We should make saying ‘no’ a habit, but rather that the intuition, intelligence and experience that may lead us to consider ‘no’ as a viable conclusion are vital signals that we should not take for granted. The ability to bring these signals to bear involves first recognizing that as an option and then exercising it as an advantage — not only for us, but also on behalf of the people who are depending on us.
Capitalizing on the advantages of when to say ‘no’ can make the difference between good and great — between maintenance and breakthrough. Some of the best advice I ever received was when a former boss advised me to, “Say ‘no’ to the good, so you can say ‘yes’ to the best.” If you fill your plate with the “good,” then where is the time or room to take advantage of great opportunities that show up?
I heard another version of this advice when a coach commented on a personnel option he chose not to exercise: “Some of the best deals are the ones you don’t make.”
The boundaries of time
It becomes clearer where to set boundaries when we carefully consider our entire vision. Your end-goal is the guide that allows you to see what smaller goals lead toward, what challenges or actions may divert you away from it and what merely marks time.
Knowing what your “great” looks like can be a touchstone, a reference for when to agree to do something and when not to. While staying open to the unexpected, we can see opportunity in any development. The key is to keep our goals and vision in mind, and act distinctly.
Time is the ever-present resource on which we can exercise critical choices. Our calendars, schedules and agendas construct a gymnasium where purpose gains definition. Be deliberate in assigning time to the things that are most important to you and recognize that we must work on our business and not just in our business. This means apportioning time for analysis, strategy and evaluation.
If we only schedule operations and execution, then the business is running us. Therefore, we should make a point of scheduling the time to think — both alone and together.
The response you can expect
You may find it hard to practice saying no deliberately. If you’ve formed a habit of saying yes too often, it is easy to slip back into old patterns. The best way to overcome this sense of resistance is to stick with your plan and pay attention to what you’re getting in return.
Once you find that you have more time and energy to focus on what really matters to you, then the reward and value of saying no becomes more apparent.
Not everyone will understand when you say ‘no.’ This is not an obstacle, but rather a road sign. If everyone agrees with you, then it is unlikely that your decision is accomplishing anything worthwhile. Your options for dealing with this response can be yet another opportunity for progress.
Sometimes, explaining your decision can be a real opportunity to enhance the impact. It is vital that the timing and extent of your explanation isn’t seen as an apology or uncertainty. The risk of weakening your decision must be avoided, yet the chance to put the energy of understanding behind it can, on occasion, be worth taking.
Here, where technology and financial services come together, I have had the tremendous professional opportunity of seeing what works in real market situations, more or less immediately almost every day and I’m happy to share what I have learned.
Christy Soukhamneut is managing director of Mortgage Finance in Texas.
The views and opinions expressed in this article are those of the author and do not necessarily reflect the views and opinions of Texas Capital Bank.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.
To contact the author of this story: Christy Soukhamneut at [email protected]
To contact the editor responsible for this story: Sarah Wheeler at [email protected]