Richard Jefferson: I suppose that I am what some would call an industry brat. My mom was in the mortgage business for most of her working career. I spent many weekends as a child in her office, watching and listening to her with her clients. I funded my first loan during my freshman year of … [Read more…]
Babies can change a parent’s life in all kinds of wonderful ways. But make no mistake, raising a child doesn’t come cheap. As many new families discover, one of the biggest costs they face is diapers.
Newborns go through as many as 10-12 diaper changes per day, and a typical disposable diaper costs anywhere from $0.20 to $0.30. This means on an average day, a parent may spend $2 to $3 just on diapers.
It’s no wonder some parents are looking into cheaper — and potentially more environmentally friendly — alternatives, such as cloth diapers. Let’s take a closer look at both types of diapers, the cost of cloth diapers vs. disposable diapers, and what the potential savings could mean for a family’s budget.
What Are Disposable Diapers?
Soft and ultra absorbent, disposable diapers are designed to hold waste products of babies and young children. They were invented in the 1940s and widely adopted in the 1980s, when they became more practical and affordable. Today, some 95% of parents in the U.S. use disposable diapers for their infants.
The three layers of this type of diaper include a soft layer against the baby’s skin, an inner layer made of a super absorbent polymer that holds moisture, and a waterproof outer layer so the diaper doesn’t leak.
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How Much Do Disposable Diapers Cost?
As the chart below shows, the cost of disposable diapers can vary widely by brand. Keep in mind that you may pay more or less for your diapers, depending on where you live and shop and whether you decide to buy in bulk.
Diaper brand
Total unit cost
# of diapers
Cost per diaper
The Honest Company
$59.99
160
$0.37
Pampers
$45.99
140
$0.32
Seventh Generation
$28.18
80
$0.35
Huggies
$52.99
198
$0.27
Hello Bello
$34.99
128
$0.27
Mama Bear Gentle Touch from Amazon
$32.70
196
$0.17
Up & Up Diapers from Target
$30.99
192
$0.16
Luvs
$39.97
294
$0.13
Parents Choice from Wal-Mart
$17.48
162
$0.11
Prices as of May 2023
Pros and Cons of Disposable Diapers
As you figure out which type and brand of diaper works best for you and your family, there are some general pros and cons of disposable diapers to keep in mind.
Pros
• Convenient
• Less laundry than cloth diapers
• Highly absorbent
• Caregivers may be more familiar with using a disposable diaper
Cons
• Can be expensive
• Contributes to waste in landfill
• May contain adhesives, dyes, fragrances, or chemicals, which can irritate baby’s skin
Disposable Diaper Factors to Consider
Price is a big factor, yes. But if you’re thinking about starting a family, there are other considerations to think about when it comes to disposable diapers.
Health and Comfort
One of the most important factors in the disposable vs. cloth diaper debate is finding a solution that keeps you and your baby happy and healthy. If you don’t have the time for extra laundry, for instance, disposable diapers may be the way to go.
Convenience
Disposable diapers are convenient, especially when you’re on the move. Just toss the waste away in the nearest garbage can.
Price
Babies go through a lot of diapers. An infant generally requires up to 12 diaper changes a day for the first year, and a toddler needs around eight. This means parents should expect to purchase around 3,000 diapers per year. How much of a dent could that put in the household budget? Let’s do the math: Disposable diapers typically cost between $0.20 to $0.30 each, which means new parents should plan on budgeting around $870 per year.
Environment
According to the EPA, disposable diapers account for more than 4.1 million tons of waste each year. Those diapers tend to end up in landfills, and the materials don’t easily degrade. If you’re uncomfortable with that thought, you may want to consider cloth versions. However, keep in mind that they require energy and water to clean.
Recommended: Common Financial Mistakes First-Time Parents Make
What Are Cloth Diapers?
Cloth diapers are made of cloth that’s absorbent, reusable, and washable. They usually have at least two layers, including a waterproof outer layer to keep the diaper from leaking and an inner absorbent layer. There are several different types:
• Flats: Flat diapers are a flat piece of thick fabric without an absorbent middle that can be folded in a number of ways around the baby. They are secured with safety pins or snaps.
• Prefolds: Prefolds are rectangular-shaped piece of fabric with an absorbent middle. They’re secured with safety pins unless snaps are sewed in.
• Fitted. Fitted diapers are an absorbent cloth diaper that’s fitted with elastic at the legs and waist but does not have a waterproof cover.
• Pockets. Pocket diapers have a pocket on the inside of the diaper for an absorbent insert as well as an outer waterproof layer.
• All-in-ones (AIO). AIO diapers have an outer waterproof layer and inner absorbency, but there is no removable insert. AIOs are the cloth diaper equivalent of a disposable diaper since all of the layers are built in.
• All-in-twos. Like a combination of AIOs and pocket diapers, all-in-two diapers have an insert, but it sits directly on the baby’s skin instead of in a pocket.
• Hybrid. A hybrid diaper has a disposable insert with a reusable cover. They create more waste and are more expensive than other types of cloth diapers.
How Much Do Cloth Diapers Cost?
There’s typically a large upfront investment in cloth diapers and accessories, such as a wet bag, pail liner, or cloth wipes. Depending on the type of cloth diapering system you use and how much you’re planning to buy, you could end up spending between $390 and $1,250. Flat cloth diapers, for instance, cost around $2.50 each. If you’re planning on purchasing a fitted cloth diaper, be prepared to spend more. A typical one costs around $14.24 each.
When you’re creating a family budget, it can help to see how much you’re spending on diapers — and everything else. A spending app can help you keep an eye on your finances.
Pros and Cons of Cloth Diapers
The diaper type you choose ultimately comes down to preference and budget. However, there are some benefits and drawbacks you may want to consider as you make your decision.
Pros
• Reusable
• May have a smaller environmental footprint
• Produces less waste
• Softer fabric and natural fibers that may be more breathable
• Attractive designs
• Can help you decrease diapering costs, especially when going from one child to two
Cons
• Larger upfront cost
• Inconvenient
• Requires more laundry
• Require more electricity and water
• Many daycare center will not accept cloth diapers
Cloth Diaper Factors to Consider
Beyond the cost of disposable diapers vs. cloth, there are other important factors to consider.
Health and Comfort
Cloth diapers are usually made from breathable fabrics, like cotton and hemp, which can feel soft on baby’s skin. Proponents also tout the benefits of the diaper’s natural materials, which generally don’t have artificial materials, such as plastic, absorbent gelling materials, or adhesives.
Convenience
While you can certainly manage a cloth diaper change when you’re on the go, it’s usually not as convenient as a disposable diaper. (You’ll need to carry the soiled diaper in a wet bag until you get home and can drop it in the washing machine.) What’s more, if you’re planning to use daycare, check if the center will accept cloth diapers — many don’t.
Price
Cloth diapers can cost anywhere from $2.50 to $21 each. If you plan on buying 25 diapers for each size your child will need — newborn, small, medium, and large — then you could spend between $700 and $2,100 on 100 diapers.
Recommended: How Much Does it Cost to Raise a Child to 18?
Environment
Cloth diapers have a different environmental impact than disposable diapers. Instead of piling up in a landfill, a cloth diaper is washed and used over and over again. However, they can use up twice as much water to produce as a disposable diaper. Plus, you’ll need to use electricity and water to launder dirty diapers, which could be an issue if you live in a state that experiences droughts or routinely restricts water or energy usage.
Cost of Cloth Diapers vs Disposable Diapers
Cloth diapers can require a significant upfront investment of anywhere from $390 to $1,250 — and that’s not including the cost of extras, such as using a diaper laundering service. However, that initial fee may end up being less than the $870 per year many parents spend on disposable diapers.
Reasons to Choose Cloth Diapers vs Disposable Diapers
As with many other parts of parenting, there’s no one-size-fits-all solution when it comes to diapering. However, if cost is a determining factor — and your caregiver or daycare center is on board — cloth diapers may be the way to go. Plus, since this type of diaper is washable and reusable, it means it’s one less item ending up in a landfill.
The Takeaway
Disposable diapers are incredibly popular among parents and for good reason. They’re convenient, highly absorbent, and, compared to cloth diapers, less expensive. On average, parents spend around $870 per year on diapers. And while it’s true that cloth diapers do require a hefty upfront investment of $390 to $1,250, they may have a smaller environmental footprint. Plus, they’re usually made of fabric that’s softer, breathable, and more natural, which some parents may prefer. All of those factors are important when you’re budgeting for a baby.
That said, diapers are just one line item in the family budget. Whether you’re saving up for their college education or looking for ways to lower monthly bills, using a money tracker app can help you manage your overall spending and saving. The SoFi Insights app connects all of your accounts in one convenient dashboard. From there, you can see all of your balances, spending breakdowns, and credit score monitoring, plus you can get other valuable financial insights.
Stay up to date on your finances by seeing exactly how your money comes and goes.
FAQ
Is it cheaper to use cloth diapers or disposable?
It depends on how much use you get out of your cloth diaper. However, generally speaking, over time, it’s cheaper to use reusable cloth diapers, even when accounting for the cost of electricity and water needed to launder dirty diapers.
What is the average cost of cloth diapers per month?
Cloth diapers have a larger upfront cost but a lower monthly cost. If an initial investment of $500 is spread out over 30 months, for example, the cost comes out to around $17 per month.
How many disposable diapers does one cloth diaper replace?
The average baby uses 8,000 diapers by the time they’re potty trained. And let’s say you invest in 100 cloth diapers, or 25 diapers for each size your child will need until they’re potty trained. This means each cloth diaper could potentially replace up to 80 disposable diapers.
Photo credit: iStock/FotoDuets
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It may be known for blues music and catfish farming, but the Magnolia State has plenty to offer when it comes to work and play. Mississippi is home to industries from technology to agriculture, with everything in between.
If you live in the state, you’re likely hoping to find the best banks in Mississippi to fit your checking and savings account needs.
12 Best Banks in Mississippi
Whether you’re looking for a national bank, a regional bank, or a small community bank, there are so many banks in Mississippi, it’s easy to find one that meets all your needs. You may even find the options overwhelming. Here’s a list of some of the best bank accounts in the state to help you narrow it down.
1. BankPlus
Local banks bring benefits like personalized customer service. BankPlus is a local bank with branches and ATMs throughout Mississippi. One downside to BankPlus, though, is its ATM availability. If you need to withdraw cash from your checking account, you’ll have to find a BankPlus ATM to avoid the fee.
Fees:
$6 monthly service fee
$36 overdraft fee
Balance requirements:
$100 minimum opening deposit
No minimum balance requirements
ATMs:
Fee-free at BankPlus ATMs
Interest on balance:
Up to 0.05% APY on savings accounts
Up to 0.55% APY on CDs
Additional perks:
Interactive teller machines connect you with live bank representatives
Up to $1,200 in cell phone protection per year
2. Planters Bank
Planters Bank could be a great option if you’re looking for a bank with physical branches. You’ll find physical locations across Mississippi, as well as in Tennessee and Louisiana.
This bank is better for those who don’t need to regularly make cash deposits and withdrawals while traveling. You’ll have to track down a SUM Network ATM, and even then, Planters charges a $1.50 fee in addition to what the third-party bank charges.
Fees:
No monthly maintenance fees
$36 overdraft fee
Balance requirements:
$50 minimum opening deposit
No minimum balance requirements
ATMs:
Interest on balance:
Up to 2.50% APY on money market accounts
Additional perks:
Robust mobile banking features
Unlimited check writing
3. Chime
Chime is an online and mobile banking solution that has everything you need to manage your accounts in its mobile banking app. You’ll get a fee-free1 checking account and access to a savings account that pays 2.00% APY3. With qualifying direct deposits in place, Chime will spot you in up to $2005 on debit card purchases with no overdraft fees.
Fees:
No monthly fees
No fees for overdrafts
Balance requirements:
No minimum opening deposit
No minimum balance required
ATMs:
Fee-free at 60,000+ ATMs nationwide
$2.50 for each out-of-network ATM transaction
Interest on balance:
2.00% APY on savings accounts
Additional perks:
4. Renasant Bank
Renasant Bank is a regional bank based in Tupelo. You’ll find 195 branches in seven states, including throughout Mississippi. There are multiple checking accounts, including a basic account that’s fee-free as long as you enroll in eStatements, have at least one direct deposit a month, or maintain a daily balance of $1,000.
Fees:
$10 monthly fee (waived with requirements)
$36 overdraft fee
Balance requirements:
$50 minimum deposit to open
No minimum balance requirement
ATMs:
Fee-free at 225 Renasant Bank ATMs and ITMs
$3 per out-of-network ATM transaction
Interest on balance:
0.05% APY on savings accounts
Up to 4.46% APY on CDs
Additional perks:
Small business owners have a wide range of checking and loan options
Children’s savings accounts available
5. GO2bank
Another online bank is GO2bank, which offers fee-free cash withdrawals through the Allpoint ATM network. If you need to deposit cash, you can take your free debit card to one of 90,000+ retail partners nationwide.
GO2bank’s checking account is free as long as you receive at least one payroll or government benefits electronic deposit each month.
Fees:
$5 monthly maintenance fee (waived with requirements)
$15 fee for overdrafts
Balance requirements:
No minimum opening deposit
No minimum balance required
ATMs:
Fee-free at Allpoint ATMs nationwide
$3 for each out-of-network ATM withdrawal
Interest on balance:
4.50% APY on savings accounts
Additional perks:
Secured credit card helps you build credit with no credit check required
Up to 7% cash back on gift card purchases
6. Cadence Bank
Cadence Bank began at the back of a hardware store in Verona, Mississippi in 1876. Over the years, Cadence has expanded to a regional bank and now has branches in Mississippi, Alabama, Arkansas, Florida, Georgia, Louisiana, Missouri, Tennessee, Texas, and Illinois.
The My Way checking account waives service fees as long as you maintain a $250 balance, have five debit card purchases monthly or at least one $100+ direct deposit, or are a student under 25.
Fees:
$8 monthly service fee (waived with requirements)
$36 overdraft fee
Balance requirements:
$50 minimum deposit to open
$250 minimum balance required
ATMs:
Fee-free at 400+ Cadence ATMs and ITMs
Interest on balance:
Up to 4.49% APY on CDs
Additional perks:
Special checking account option for seniors 62 and over
Wealth management services available
7. Ally Bank
Online and mobile banking have created an appealing alternative to big banks. Ally Bank gives you a checking account with no monthly maintenance fees and no minimum balance required.
You’ll have everything you need in the mobile app, as well as access to cash at Allpoint ATMs nationwide. But one of Ally’s best features is its competitive rates on savings accounts, CDs, and money market accounts.
Fees:
No monthly maintenance fees
No overdraft fees
Balance requirements:
No minimum deposit to open
No minimum balance requirement
ATMs:
Fee-free at 53,000+ Allpoint ATMs nationwide
Up to $10 in third-party ATM fees reimbursed monthly
Interest on balance:
0.25% APY on checking accounts
3.85% APY on savings accounts
Up to 4.80% APY on CDs
4.15% APY on money market accounts
Additional perks:
Paycheck funds available up to two days early
SpotMe covers you for up to $200 in overdrafts
8. Wells Fargo
National banks bring their own benefits, including a wide range of banking services and a vast branch and ATM network. Wells Fargo is one of the largest banks in the country, and you’ll likely find a bank branch near you.
Wells Fargo has a checking account with no monthly service fees as long as you keep a $500 balance, receive $500 or more in qualifying electronic deposits monthly, or you’re between the ages of 17 and 24. If you’re attending college, you can also enjoy a free checking account by linking your checking account to a Wells Fargo campus card.
Fees:
$10 monthly fee (waived with requirements)
$35 fee for overdrafts
Balance requirements:
$25 opening deposit required
No minimum daily balance
ATMs:
Fee-free at Wells Fargo ATMs nationwide
$2.50 fee for out-of-network transactions
Interest on balance:
Up to 2.51% APY on savings
Up to 4.51% APY on CDs
Additional perks:
$300 for new checking accounts
Earn 20,000 bonus points with the new Wells Fargo VISA
9. Regions Bank
Regions Bank is a regional bank that operates throughout the South, Midwest, and Texas. You’ll find branches and ATMs throughout Mississippi, including DepositSmart ATMs that make it easy to make check and cash deposits.
The Regions Bank LifeGreen eAccess Account is an online and mobile banking option with no monthly maintenance fees as long as you make at least 10 debit or credit card purchases each month.
Fees:
$8 monthly maintenance fee (waived with requirements)
$36 overdraft fee
Balance requirements:
$50 minimum deposit to open
No minimum balance required
ATMs:
Fee-free at Regions Bank ATMs
$3 out-of-network ATM fee
Interest on balance:
0.01% APY on savings accounts
Up to 4.75% APY on CDs
Up to 1.50% APY on money market accounts
Additional perks:
DepositSmart ATMs make it easy to deposit cash and checks
Wealth management services available
10. PriorityOne Bank
For a smaller, community bank, look at PriorityOne Bank, which has 16 locations across Mississippi. PriorityOne offers multiple checking account options, including a basic account with all the mobile banking features you’ll need, as well as unlimited check writing. This account is $7 a month, but you can have the fee waived if you keep at least a $100 daily balance.
Fees:
$7 service fee (waived with requirements)
$35 overdraft fee
Balance requirements:
$50 minimum deposit to open
No minimum balance required
ATMs:
Fee-free at PriorityOne Bank ATMs
Interest on balance:
Up to 0.10% APY on savings accounts
Up to 1.00% APY on CDs
Up to 0.20% APY on money market accounts
Additional perks:
Check Buy-Back program pays for unused check and debit cards from your previous bank
Variety of banking options for small business owners
11. Trustmark National Bank
Another option is Trustmark National Bank, which is headquartered in Jackson. Although Trustmark National Bank qualifies as one of the big banks, it’s confined to the Southeast U.S., with 180 branches, ATMs, and ITMs.
You’ll enjoy a free checking account as long as you make at least 15 debit transactions monthly, receive at least $100 in electronic deposits monthly, or keep an average balance of $1,500. Trustmark National Bank also currently has account options for both students and small business owners.
Fees:
$10 monthly fee (waived with requirements)
$36 fee for overdrafts
Balance requirements:
$50 minimum opening deposit
No minimum daily balance required
ATMs:
Fee-free at Trustmark National Bank ATMs
$2.50 for each non-Trustmark National Bank ATM withdrawal
Interest on balance:
Rates not publicly disclosed
Additional perks:
$50 bonus for opening Trustmark National Bank student checking account
Banking options for small business owners available
12. First State Bank
Another community bank option is First State Bank, which has multiple branches in Waynesboro, as well as in Ellisville, Laurel, Leakesville, Lucedale, Meridian, Quitman, and State Line. There are multiple checking options, but the best checking account if you’re looking for a fee-free option is Kasasa Cash Checking.
Although there’s no opening deposit, you’ll have no monthly fees. Best of all, it’s a rewards checking account. You’ll also earn up to 1.00% APY on your balance.
Fees:
No monthly fees
$37 fee for overdrafts
Balance requirements:
$100 minimum opening deposit
No minimum daily balance required
ATMs:
Fee-free at First State Bank ATMs
Up to $25 in out-of-network ATM fees refunded each cycle
Interest on balance:
Up to 1.00% APY on checking account
Up to 0.25% APY on savings account
Additional perks:
Rewards checking account with no monthly fees
Travel and Leisure Club open to account holders aged 50 and over
How We Determined the Best Banks in Mississippi
Personal preferences can vary widely when it comes to a bank account. For that reason, we looked at a variety of options, including national bank branches in Mississippi and small but powerful local options.
The banks we looked at had as many as six different checking accounts and four different savings accounts. To make a fair comparison, we looked at the simplest checking account at each bank. However, in your search, you may be willing to pay a monthly fee or maintain a high minimum daily balance in exchange for features like high interest rates and cash back rewards checking account options.
We also looked at rates on savings accounts, CDs, and money markets, but if you’re interested in those features, you may want to compare the minimum opening deposit, required balance, and fees that go with those account types.
Finding Your Ideal Checking Account
If you’re shopping for a bank, chances are you want a place to park your paycheck. From there, you can add on the savings accounts and other financial products you want. Here are some things to consider as you’re researching banks in Mississippi.
Big Banks vs. Online Banks
There are benefits to a big bank with physical branches across the country. You’ll typically see a large number of checking options, which means you’re likely to find the best checking account to fit your needs. Having access to cash and in-person customer service while you’re traveling is also a big bonus.
But there are benefits to an online bank account as well. Since a free debit card is a standard feature on both online and traditional bank accounts, mobile banking is often as full-featured as a brick-and-mortar financial institution. If you’re concerned about cash access, many checking accounts now feature partnerships with national ATM networks that let you withdraw cash without paying extra account fees.
Difficult to Meet Fee-Waiver Requirements
Free checking accounts sometimes come with requirements. This may be maintaining a balance every day. That means the monthly fees will kick in if your account ever drops below that minimum.
These days, though, many banks offer an alternative to that balance minimum. The best checking accounts also allow you to waive the fee by receiving a certain number of electronic deposits each month. If your paycheck or government benefits check goes into your account once or twice a month, this should qualify you for fee-free checking.
Access to Mobile Banking Services
What matters in a bank is what you can do through your mobile device. It’s important to not only look for features like bill pay and remote check deposit, but also check to see if an account offers budgeting tools and financial advice services. This is where some banks stand out. Online-only banks and large, corporate banks may have state-of-the-art mobile services, while small banks may struggle to keep up.
When you’re looking for the best checking accounts and savings vehicles, it’s important to consider the features you need, then look for the account that will fill those needs. National banks, regional banks, credit unions, and local banks each have their own benefits. But the best banks in Mississippi are the ones who give you the conveniences you need, whether you’re traveling or staying close to home.
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.
1. Out-of-network ATM withdrawal fees may apply with Chime except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
3. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of May, 22, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
5. Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.
When most people picture a real estate agent, they think of someone salesy and outspoken: an extrovert. But today’s guest, Barry Karch, says that some of the best real estate salespeople are actually introverts. Tune in and discover how an introvert’s unique personality traits can be leveraged for superhuman success in sales. Plus, we discuss the El Paso real estate market, the reason why most people never remember their Realtor, and more.
Listen to today’s show and learn:
About Barry Karch [1:43]
How Barry got into real estate [2:11]
Will a college degree help your real estate career? [3:50]
What Barry would change about his first few years as an agent [5:45]
Why you must stay top of mind for repeat business [6:57]
Barry’s pre- and post-pandemic sales [10:02]
The El Paso real estate market [11:01]
Introverted personality traits [16:53]
Barry’s advice for introverted real estate agents [18:25]
How Barry got leads in the ‘80s compared to how he gets them today [20:16]
Barry’s #1 recommendation for introverted real estate agents [24:18]
One of the best inexpensive gifts for potential clients [25:38]
Advice for everyone on how to succeed in real estate [26:36]
Barry’s experience with real estate referrals via Homelight [29:53]
Barry’s real estate market predictions [32:17]
The Real Estate UnSalesperson podcast [32:52]
Why Barry, an introvert, loves real estate [33:48]
Barry Karch
Barry Karch has always considered himself an unlikely Realtor – quiet, introverted, unsalesy. Not your prototypical formula for success! Yet, Barry has been a top selling Realtor for 36 years, selling as many as 100 homes per year. He has come to realize that being an introvert in real estate gives him many advantages over his more extroverted colleagues. He has created a podcast called The Real Estate UnSalesperson to encourage and inspire his fellow introverted Realtors and has just launched the UnSalesperson community (find info at patreon.com/unsalesperson). His mission is to teach introverts that they have what it takes to succeed in real estate.
Related Links and Resources:
Thank You Rockstars! It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email. -Aaron Amuchastegui
How carefully do you budget? Do you account for every dime, or is there some wiggle room in your spending plan?
Since I got on the wagon with tracking my spending, there’s no miscellaneous category in my budget anymore. Every dime of my income is accounted for. I know how much I spent on parking meters last month ($2.75), as well as bigger ticket items like what my household utilities cost ($328).
That’s great for budgeting. I base my spending plans for the coming month on my actual spending from previous months. In theory, my household finances should be a well-oiled, debt-slaying machine.
In theory. In theory, there’s no difference between practice and theory. But in practice…
Too good to be true In practice, I end every month feeling pinched, wondering where all my money went and why my grocery envelope is so thin this week. Yes, I can check my spending records to get answers to those questions. But I would have thought that by now I’d have solved the problem.
I haven’t for two reasons. One is that I’ve deliberately cut our daily operating budget very close to the edge. We lived for a long time on less than half our current household income. Our income has gone up, but we still have debts to pay off. As uncomfortable as it can be to shake the last cup of black beans out of the cupboard because I ran out of grocery money, I’d rather spend a few more years living on a tight budget in order to get out of debt faster.
In other words, I make myself feel broke on purpose.
Back in the day, I used to come up against the end-of-month bills in a panic, staring at a dwindling bank balance and no back-up plan. Now I have the same immediate problem of squeezing money for the electric bill out of the grocery budget. But instead of a wad of maxed-out credit cards, I have zero credit debt and a nice start on an emergency fund building in my online savings account. That’s a huge improvement.
I’d still like to think, though, that after two years of tracking every penny I spend, I could accurately predict how much money I’ll need each week.
I fail because every month there are some irregular expenses. Sometimes they’re big, like a surprise $600 vet bill for our cats. Sometimes they’re small, like spending $30 at the charity book fair at my kids’ school or buying a $100 part for my oven.
The point is just that every month it’s something — something I neglected to account for. The more I plan ahead, the fewer these things take me by surprise. Our annual homeowner’s insurance bill no longer catches me off guard, and I’ve budgeted months in advance to pay the excise tax on our car.
But I’ll probably never be 100% accurate with my spending plans. I’ve learned the basic skills of tracking my income and expenses, and plotting out what I’ll need to spend in the coming month. I’m pretty good. I get it right to within a few hundred dollars every month.
Living in the Real World Given the complexity of our financial life and the reality of my ADHD brain, this is probably as good as it gets for me as a household financial manager.
If I can’t get better at predicting what I’ll spend, I need another strategy to solve my end-of-month budget crunch. While I love how our household income has gone up over the past two years, I know that more money is rarely the answer to a financial problem. I just need to manage what we have better.
Puzzling over this at the end of October, I realized the answer had been staring at me for months.
I need to budget for my mistakes.
When I wrote about travel budgeting in July, I quoted Ramit Sethi‘s rule of thumb: figure out what you think you’ll spend on housing, food and travel costs, and then add 20% for the unexpected stuff that comes up on any vacation.
That rule served me well during all my summer travel. I came in under budget, feeling great, and put the extra money back in savings for my next trip.
Clearly, I need to do something similar with my household budget. Given the scale of the numbers, 20% is probably excessive. But I need to rewrite my spending plan with a margin of error. Maybe 10% or even 5% will be enough.
This will be money I can safely spend on anything that comes up during the month:
Dinner out with a college friend
A trip to the emergency room
A car repair
And so on
This money is for all of the small costs that don’t merit dipping into our emergency fund, but weren’t accounted for in my spending projections at the beginning of the month.
If I use it up, fine. That’s what it was there for. If I don’t, I get a bonus prize: the chance to knock that much more money off my debt this month.
Nobody’s perfect Not only does that ease the pressure to be perfect with my spending a bit, but it gives me a short-term incentive to be extra careful. I wrote last week about my flagging interest in my own finances. Having to protect a pool of bonus money that might or might not go towards an extra debt payment at the end of the month is the kind of money hack that will keep me more engaged day-to-day.
Since I’m just starting this, I’m curious to hear from GRS readers: Do you have room in your budget for mistakes? How much do you allow? Does it help you stay focused, or give you an excuse to get sloppy with your spending? What advice can you give me?
When you’re young and adventurous, international travel is the dream. You jump at any opportunity to go abroad without a second thought, start packing your suitcase, and promise yourself you’ll work out the details later.
But traveling — especially post-pandemic traveling — requires a bit of planning if you want a safe, inexpensive, and (relatively) stress-free trip. ️
Whether you’re traveling with friends or going solo, staying for one week or six months, traveling is much easier when you plan ahead with money-saving tips. Here are our best ideas to make your next international trip easy on your mind and your wallet.
What’s Ahead:
1. Be flexible with your dates and destinations
If you have flexibility in terms of where and when you travel, you have a major advantage: the ability to plan your trip around whatever amazing deal you can find. Without limitations on where and when you can travel, you can search within a specific timeframe or geographical area and shop around for low airfare and accommodations.
If you’re totally set on a particularly expensive destination, try to plan your trip for the off-season. You can often save big by traveling during less popular times, even in expensive areas. Conversely, if you have a specific window of time for travel, shop around for a destination that offers a good bang for your buck for that time of year.
A little flexibility goes a long way when you want to save on international travel.
Read more: Affordable international travel destinations that won’t empty your wallet
2. Decide what’s important to you and prioritize your spending
Before you hop on a plane with cash burning a hole in your pocket, take some time to think about your spending plan while you’re away.
I don’t necessarily mean you have to budget — although if that’s your style, stick with it. What I do suggest is you think about how you want to spend your money while traveling — starting with what’s most important to you.
Do you want a direct flight, or is a layover okay?
Do you love museums, or is seeing one enough?
Do you want to stay in a specific neighborhood, or wherever’s affordable?
Are you a big foodie, or is your dining experience an afterthought?
For example, if food is your thing, plan to spend big at restaurants. You’ll probably have to cut back in other categories — like lodging, cultural attractions, or transportation — but that’s okay. Giving this some thought before your trip will help you prioritize your favorite things.
Read more: How to travel for cheap: 7 ways to see the world for less
3. Get travel insurance
If you’ve traveled at all since COVID-19 upended the world, you know how different it is. After months — even years — of lockdown, many of us are jumping at the chance to travel abroad again. But after enduring such a lull in travel, it’s even more disappointing when things don’t work out.
That’s why travel insurance is a lifesaver.
The last thing you want is to plan an epic trip and miss half of it due to a flight cancellation. So even though you might bristle at the added expense of travel insurance, work it into your budget and enjoy the priceless feeling of security should something go wrong.
Like credit cards and bank accounts, there are lots of options when it comes to travel insurance. Several popular credit cards provide travel insurance, so you might already be covered. If not, shop around for a policy that fits your needs and budget. Sites like SquareMouth.com, TravelInsurance.com, and InsureMyTrip.com can help.
Read more: Best credit cards for travel insurance
4. Save digital copies of important documents
You know that feeling when you misplace your phone? Your stomach kind of drops, and panic sets in. (And approximately 12 seconds later you find it on the kitchen table.)
Imagine that feeling — x100 — when you misplace your passport while traveling internationally.
I know — you’ll do your best to keep all your stuff secure and organized. But things happen, you misplace this, you forget that. You’re human, and you should have a backup plan.
Make digital copies of all your important documents before you leave. Store them in multiple places, and make sure they’re accessible to you while abroad. I suggest making copies of the following documents:
Passport
Travel insurance paperwork
Vaccination information
Visa
Driver’s license
Travel itinerary
Store photos on your phone, in your email, in the cloud, and give copies to a trustworthy person at home.
5. Learn language basics
If you’re traveling to a country that speaks another language, take some time to learn key phrases and words.
Learning a new language opens all kinds of doors when you travel. The better you can communicate with locals, the more you’ll get out of your trip. Plus, having some basic language skills means you can better navigate outside of the main touristy areas — potentially saving you money by staying, eating, and shopping in under-the-radar locales.
Learning language basics can also give you a better cultural understanding of wherever you’re traveling. Not to mention locals will appreciate your interest in their language and culture.
If you’re thinking there’s no way you’ll ever learn to speak another language, start small. You don’t have to be fluent to reap the rewards of language skills. Instead, think about some simple words and phrases you know you’ll need often.
There are tons of accessible, free ways to learn a new language these days. You can download an app like Duolingo or Memrise, join a language exchange, or even take a community college class.
6. Have some local cash before you land
There are a million and one things to plan when traveling abroad, and it’s easy to neglect to get local cash before departing. You might just plan to use your card and withdraw money when you get there — but you can’t always count on this strategy.
You never know when you’ll have trouble with a card, and you’ll definitely need money when you land — to feed yourself and get to your lodging, at a minimum. So take the extra step of getting some local currency before you even step foot on the plane. And be sure you have enough to get situated when you get there.
Oh, and don’t wait until you get to the airport to exchange your cash. If you go to your bank or credit union, you’ll pay a lot less in fees and pay lower exchange rates than you will at an airport kiosk.
7. Get a local SIM card for your phone
Roaming data and temporary data passes are expensive, and there are better — and cheaper — ways to use your phone abroad.
Of course, you can always connect to Wi-Fi. But if you want to be able to use your phone without a Wi-Fi connection — say, to find the nearest pub while walking the rural English countryside — you can avoid exorbitant roaming fees by buying a local SIM card instead.
After you land at your destination, go to a local telecom store and buy a SIM card. Look for a pay-as-you-go or temporary SIM, which you might see being marketed to travelers. Choose a popular telecom store with lots of locations — that way, if you have issues later on, it’s easier to find help.
All you have to do is replace your regular SIM card with the temporary one (unless your phone allows dual SIM cards — then you can have both in at once) and make sure your roaming data is turned off. Voila! You’ve got yourself a working phone.
8. Stay in a local neighborhood
Rather than paying an arm and a leg for a bland hotel in the main tourist zone, look for a rental in a local neighborhood when planning your accommodations abroad. Aside from getting a unique experience, there are lots of benefits to doing this:
You can often save money by staying even a short walk from the hot spots
You’ll experience more of the local culture and cuisine
You can meet the locals — whether it’s an Airbnb host, a barista down the block, or a neighbor
If you’re traveling somewhere for an extended period of time (and depending on your risk tolerance), you can wait to find your long-term accommodations until you get there. Find a place to stay for a week or two while you get a feel for the area and chat with the locals. You’ll have a much better idea of where you want to be — plus some insider tips — by getting situated first.
9. Book a walking tour
If you ask me, there’s no better way to explore a new city than on foot. You see more, you start to orient yourself, and you can stop in whatever shops, cafes, and museums you see along the way.
To start your trip off on the right foot (literally), book a walking tour as soon as you arrive. They’re a great way to immediately learn about the city and scope out the places you want to revisit. Plus, walking tours allow you to meet other travelers. If you’re traveling solo, you’ll likely meet other people interested in exploring with you.
They don’t cost much — in fact, a quick Google search usually turns up lots of free walking tours.
10. Use local currency when paying with a credit card
When you’re traveling abroad and paying with a credit card, you may be prompted to choose between local currency or U.S. dollars when checking out. You may not realize it, but you’ll likely pay more by selecting your home currency.
Even if your card doesn’t charge foreign transaction fees, there’s usually a fee associated with paying in your home currency. The only real benefit is seeing what you’re paying in terms of the currency you’re familiar with. But this convenience comes at a price — usually around 3% of the charge — which can really add up over time. If prompted, always choose the local currency when paying with a credit card.
11. Use public transit
One of the best ways to save money when traveling abroad is to use public transit. And I promise it’s not as scary as it seems!
The reality is, Ubers, Lyfts, and cabs will quickly eat away at your budget. While convenient, they’re not cheap. If you can, rely on public transit to get where you need to go.
Depending on where you’re traveling, public transit may include:
Trains
Buses
Subways
Trams
Ferries
The ins and outs of navigating public transit vary widely, but it’s not as intimidating as it looks. Taking public transit will give you a chance to practice a foreign language and give you more of a local’s perspective on the city.
Plus — and I can tell you from experience — you’ll feel a huge sense of accomplishment (and relief) after navigating a foreign city’s public transit system.
One more note: it’s not a bad idea to set aside an emergency stash of money for a cab. If you’re out late or, for whatever reason, don’t feel safe taking the bus or train home, a cab is always worth the peace of mind.
12. Make use of grocery stores
No, you don’t have to go full Julia Child while abroad, but grocery shopping and cooking in a new country is a worthwhile adventure in itself. Plus, shopping for snacks, groceries, and ingredients — and cooking meals yourself — can save you a fortune while traveling.
When I went to Iceland, my flights and rental car were relatively inexpensive. Meals out, however, were pricey. I ended up saving a lot of money by shopping for groceries and cooking at home. There were some… interesting meals, but I saved money I wanted to spend on other things — like museums and awesome lodging.
If your hotel room, rental, or hostel has a kitchen, you can cook simple meals at home. Have fun browsing the shelves at grocery stores, specialty shops, and farmer’s markets for fresh and exotic ingredients, and see what culinary masterpiece you can cook up.
If your lodging doesn’t include a kitchen, you can still stock up on snacks. You can easily piece together a cheap and delicious picnic with grab-and-go-items.
Read more: 9 ways to save money on food and drinks while traveling
13. Check out local meet-ups
No matter how far from home you are, you can find community at a variety of local meet-ups. A quick online search can help you find free local meet-ups in whatever city you’re in — no need to spend on every experience while traveling. Plus, if you’re traveling solo, you’re almost guaranteed to meet other solo people with similar interests as you.
Not sure where to start? Check out these ideas for inspiration:
Creative Mornings — a live gathering of creatives who want to inspire, connect with, and learn from one another.
FuckUp Nights — a series of events showcasing stories of professional failure, vulnerability, and empathy.
MeetUp.com — a platform to help you find groups, events, and activities wherever you are.
If you meet locals during your stay, ask them about local events and meetups. It goes without saying, but stick to gatherings that feel safe.
Summary
International travel isn’t out of reach — especially if you take the time to plan wisely. There are lots of great ways to save on flights, food, transportation, and accommodations, as long as you’re willing to do your research.
Remember to take care of yourself and be a responsible traveler, too. The more effort you put into planning a safe, responsible, and wallet-friendly trip, the more enjoyable it will be.
For new college graduates, receiving that first post-degree paycheck can be almost as exciting as getting the diploma itself. But it also presents a challenge: Given the many demands on a young person’s budget, how should those funds be managed?
We asked five money experts to share their best personal finance strategies to help this year’s college grads successfully launch their financial lives. Here’s what they said.
Find your budgeting style
To figure out how to allocate your money toward needs, wants and everything else, Erin Lowry, author of the “Broke Millennial Workbook,” says that instead of following the latest budgeting trend on TikTok, it’s helpful to just sit down with a pen and paper. “Write down what your big expenses are,” she says.
After accounting for large items like rent, car payments and food, you can then see what nonessentials also fit. “You might want to go out to dinner with friends, build up new work attire or adopt a dog,” Lowry says. Writing out the budget helps you figure out what you can afford and when, she adds.
“We conceive of budgets as restrictive things that keep us from having fun, but you should be thinking of it as a way of controlling how your money is spent. If you don’t know, you’ve sacrificed all control,” Lowry says.
Factor in taxes
Melissa Jean-Baptiste, a financial educator and the author of the book “So… This Is Why I’m Broke,” says it’s easy to forget to account for taxes, so you might have less take-home pay than you anticipated. Retirement contributions and other deductions can further lower that amount.
Jean-Baptiste suggests setting aside some time to really understand your first paycheck and all those deductions. “Take yourself on a money date so you understand how much you’re bringing home and how much you have left to save and invest,” she says.
Save smartly
Even if they’re paying off debt, Alex Rezzo, a certified financial planner and the founder of Andante Financial in the Los Angeles area, urges new grads to start saving for retirement right away. “There will always be a more immediate excuse to delay saving for retirement,” he says, but he urges people to find a way to save at least 1% of each paycheck and to increase that amount over time.
He also suggests parking your direct-deposited paycheck funds in an online bank that offers a competitive high-yield account and is backed by the Federal Deposit Insurance Corp. That way, the money likely will earn more than it would sitting in a traditional bank’s checking or savings account.
Protect your credit
As you build your independent financial life, making at least the minimum payments on your student loan and credit card accounts can help protect your credit. Missing a payment, Lowry says, could damage your credit score. She suggests focusing on paying down any high-interest debt first to reduce the total amount going to interest.
Lowry also suggests freezing or locking your credit, which makes it much harder for identity thieves to apply for new credit in your name. Just remember that if you freeze your credit, you’ll also have to thaw it if you want to apply for credit yourself, she says, adding, “you might want to wait until you’re through a period of time when you’re applying for new accounts.”
Make mistakes and learn from them
Kennedy Reynolds, chief education officer at Acorns, a financial services company, says mistakes are part of the learning process, whether it’s overspending or accruing credit card debt, but the key is to learn from the experience. “If you have debt to pay down, take that paycheck and split it up” toward those bills until they are paid off, she says.
“Try to picture yourself later and know that the choices you’re making now will have a long-term impact,” she adds.
Look beyond your paycheck
Linda Whiteman, a personal finance teacher at Outschool, an online learning platform for kids, teaches her students to think entrepreneurially. After all, she tells them, most millionaires are business owners.
“You don’t have to work for someone,” she says. She asks her students to consider what they can teach others, whether offering piano lessons online or creating digital art. Pursuing additional income streams outside of a paycheck can help grow wealth, she adds.
Jean-Baptiste found success doing exactly that: She used her experience as a teacher to create and sell lesson plans online. “I was bringing in $10,000 a year that I could put toward debt,” she says. Her lesson plans eventually turned into the financial literacy business that she operates today.
Earning additional income outside of a paycheck, she says, “can be a game-changer” — financial wisdom that applies at any age.
This article was written by NerdWallet and was originally published by The Associated Press.
Death does not only cause sorrow. Deaths usually come with high bills and financial troubles because of the combination of the lost paycheck and the extra expenses tagged on from the funeral and hospital. The average funeral can cost as much as $10,000 or more.
This type of situation can be avoided with life insurance, but dedicating your entire life to a specific plan is not necessary. You can find 15 year term life insurance that covers you and pays those close to you in case you die.
Choosing a 15 Year Term Policy
Throughout changes in jobs and situations, you are going to need to need different policies. You need to be able to cover everything, which means children, home, significant other, expenses, and all other things that may enter your life after a few years.
A policy that lasts your entire life might not be suitable, especially when you are still expecting these types of changes. Those are more for people who have more stability, people who expect to need that same amount throughout the years. A lot of people buy 30-year term policies, but so many things can change in those three decades.
Having your first child, having more children, getting married, kids graduating college, etc. all of these things are going to drastically impact your life insurance needs. So, why would you purchase a policy that lasts 30 years, or your whole life?
Choosing a 15 year term life insurance policy is coverage that lasts for a certain amount of time in your life, allowing you to change it to whatever is suitable later.
20 Year Vs. 15 Year Term Life Policy
It is vital that you consider your specific needs for now and in the future. While one thing might be true at this moment, like several or a lack of children, things change.
You might have a child, causing you to require higher amounts, or a current one grows up and you no longer need the high amount you were paying for before. Maybe you plan to have enough money saved up that will make your life insurance policy an unnecessary expense.
There are plenty of reasons that a person may choose a shorter policy instead of a longer 30-year plan. Look at a 20-year term vs 10-year term and figure out which is best for where you are and expect to be.
This can help you to avoid surprising while still have an amount of money saved away that does the job.
What Term Policy is Best For You?
There is no need to worry about a term policy not covering you. The only difference in coverage is how long it will last, after all.
Once you find yourself in a situation where the amount received does not match the amount needed, you can change it to ensure there are no holes or that you are not overpaying for something worth much more than you need.
Since finances do play a big role in living a stable, happy life, the right insurance policy from one of the top life insurance companies makes a dramatic difference. You can be sure that you have enough money now and well into the future, and that your family and loved ones will after your passing.
Being insured is a necessity, but you need to take into account your current and future situations. If you do not think about where you may be, you might end up in an undesirable situation that does not match your financial needs.
By looking at 20 year term vs 10 year term policies, you can figure out what is right for you and have the ability to change it in the future in case your life does change.
For example, let’s say that you go with a 10-year term policy. You’ll enjoy that affordable coverage for the next decade, but after that, you lose your insurance coverage and you’ll have to reapply for another policy.
Now that it’s been ten years since your last application, your rates are going to be higher than they were before. It could be a smarter decision to go with a longer policy, but maybe you only need 15 years of coverage.
Ads by Money. We may be compensated if you click this ad.Ad
The Importance of Life Insurance
Life insurance is one of the best purchases that you can make for you and your loved ones, regardless of the term that you choose. If something tragic were to happen to you tomorrow, would your family be able to pay off all of the debts that you would leave behind? Would they be able to replace the income that you used to provide?
If you’re like most people, you have a mortgage, car payment, credit card bills, and more. All of those unpaid expenses would be left to your loved ones. That’s not exactly the legacy that you wanted to leave behind.
Life insurance will not only give your family plenty of money if you were to pass away, but it will also give you peace of mind knowing they will be taken care of if tragedy were to strike tomorrow. Before you purchase a policy, sit down and calculate all of the debts that you would leave behind. Make sure that your life insurance plan is large enough to cover all of those expenses.
The other purpose of life insurance is to replace your income. If you have family members or loved ones that rely on your annual salary, then you need a policy that will give them the funds to find another income.
Because there are so many different factors that you have to consider, picking the perfect policy for you can be difficult. There are hundreds of companies that all have different types of policies, how are you supposed to decide the one that fits your needs? You could spend hours and hours calling insurance agents, researching companies, and comparing different plans, or you can let us do the work for you.
The best way to ensure that you’re getting the lowest rates available is to receive quotes from dozens of companies before you choose one. This comparison shopping will help you save money every month, but it can be time consuming.
It doesn’t have to be, we can help. Fill out the form on the side and all the lowest quotes from the highest rated companies will come to you. You won’t have to keep answering the same questions over and over.
We will provide the best quotes based on your situation and the type of policy that you want.
Aside from helping you find the best policy and the lowest rates, we can also answer any questions that you have about 15-year term life insurance policies, whole life insurance policies, no medical exam policies, or any other questions that you have about life insurance. Our agents are experts on the life insurance field and can help you make well-informed decisions to protect you and your family against whatever life is going to throw at you.
In just five years since college, I have experienced every living situation imaginable (read on for the list). Based upon my rental resume, one would think that once I found myself living alone, in a modest one bedroom, I would stay put. I didn’t.
Recently I made the difficult – but financially wise – decision to give up an apartment all by myself to move to a shared condo with a roommate. For the forfeited privacy, I will save $400 a month.
Sharing living space is never easy, but I think it is often most difficult when you are friends with (or in love with) your housemate(s). In fact, sometimes rooming with strangers makes a lot of sense. How do I know? Chalk it up to experience. Here’s a breakdown of where I’ve lived since college:
I rented a 10×12 room in New York City, across the street from a Harlem housing project, sharing the apartment with an immigrant single mother and her teenage son.
I lived back at home with my parents.
I lived with my girlfriend.
I rented a room in a home owned by a couple of guys my age.
I lived alone in a one bedroom apartment.
Now, I am back to living in a condo with a roommate (sometimes two, on the few days a month the owner is not traveling internationally).
When I was living with roommates previously, I couldn’t wait to have “a place of my own”.
Once I got that place, it was everything I had hoped for: peace and quiet 24 hours a day, and the freedom to cook, play the guitar, or have friends over whenever I pleased.
But, boy, did it cost me. It cost $1,000 a month, to be exact. Now, that rent included utilities – even cable and internet – and was a great deal for Eastern Massachusetts. But at the end of a year in that apartment, I realized I was paying for space I didn’t use, and didn’t need. Though I had achieved one goal of living alone, I was also deferring my other goal of owning a home, because every month of expensive rent was less I could put into the bank.
Between visiting friends, visiting my parents just fifteen minutes away, and traveling for business, I was hardly home. When I was home, I was usually sleeping. So I sucked up my pride, hit Craigslist, and amazingly found a perfect shared living situation just a mile from my old apartment (and my job – I got to keep my super-easy commute!)
In addition to having a bedroom and private bath on the 3rd floor of the condo, I had a great first impression of my roommate, which always helps. Two weeks in and we have hardly seen each other, which seems typical for busy professionals our age.
So far, I don’t miss living alone. I know sooner or later I will, but then I’ll just look at the $400 going into my bank account each month and all will be well.
Have you ever lived in a strange situation to save money? Or gone out on your own despite the expense? I’d love to know!
If you follow us on TikTok or Instagram (@mortgageeasier), our Employee Spotlight may look familiar. Kristen Karam works in our Marketing department as one of our Social Media Strategists creating the fun content you’ve all come to know and love. We sat down with Kristen to learn more about her; take a look below.
Where are you from originally? I’m originally from upstate NY. I went to college in LI at Stony Brook University before ending up in CT.
What brought you to Total Mortgage? I joined total mortgage because I love the work environment. Before my 1st interview, I could tell that Total Mortgage truly cares about its employees. I have never felt more supported than I do here at Total Mortgage. I am so grateful to be a part of the team and to be able to work with such incredible people.
What was your first job? My first job was working as a Lifeguard in HS at the Corning YMCA in upstate NY.
What’s a fun fact about you? I’m a stand-up comedian in NYC!
Do you have any nicknames? Everyone calls me “Krick” which is short for “Kricket”. When I was like 7 I ate a cricket because some kids dared me to and since then the name stuck.
What do you enjoy doing in your free time? I love practicing guitar, writing jokes, hiking, reading, and playing call of duty.
What’s one thing you’re proud of? Buying my first house/ investment property at age 25 with my girlfriend Annie. You can read about that here.
What is the first thing you would do if you won the lottery? I would use it to invest in Real Estate and go on vacation to the Maldives.
What’s on your road trip playlist?
Earth, Wind, and Fire
Peter Frampton
Hootie & the Blowfish
Kendrick Lamar
Stevie Nicks
Tyga
SZA
Tch N9ne
ODESZA
Red Hot Chili Peppers
The Eagles
If someone were to come to your town, what is one local spot you would send them to & why? I was born in Elmira, NY. Unfortunately, there isn’t much left there now. I would recommend my favorite pizza place, Pudgies! They have the best pizza I have ever had in my life.