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Starting May 2, 2024, new Sapphire cardholders can get the following welcome offers by meeting the spending requirements:
Chase Sapphire Preferred® Card: Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s worth over $900 when redeemed through Chase Travel℠.
Chase Sapphire Reserve®: Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s worth $1,125 when redeemed through Chase Travel℠.
Even though the sign-up bonuses have the same point total — 75,000 points — they’re valued differently because of the way points can be used with each card. When you use points to book through Chase’s travel portal, they’re worth 1.5 cents apiece with the Chase Sapphire Reserve®, but only 1.25 cents each with the Chase Sapphire Preferred® Card.
The Reserve has a $550 annual fee, while the Sapphire Preferred’s is considerably less at $95.
A 75,000-point bonus on either card is one of the best offers in a while. The last time the Chase Sapphire Reserve® offered an elevated bonus was in October 2022, when the welcome offer was 80,000 points. The Preferred also had an 80,000-point bonus over a year ago in April 2023. If you’ve been considering getting either Sapphire card, now is as good a time as any.
Chase wouldn’t disclose when these limited-time offers would expire. However, previous Chase sign-up bonus promotions lasted just a few months.
Source: nerdwallet.com
“The private label program was designed for brokerages like Village Premier Collection that have built successful businesses on their own, but that will benefit from the resources of a larger platform,” Real president Sharran Srivatsaa said in a media release. “I’m excited to welcome Village Premier to Real and look forward to a long and … [Read more…]
Our writers and editors used an in-house natural language generation platform to assist with portions of this article, allowing them to focus on adding information that is uniquely helpful. The article was reviewed, fact-checked and edited by our editorial staff prior to publication.
Buying a home doesn’t necessarily require a large down payment. The conventional wisdom is that you need 20 percent down, but in reality, you don’t have to save that much. In fact, there are no-down payment mortgage options. Here’s what you need to know about these types of loans.
A no-down payment mortgage is a home loan that allows you to finance 100 percent of the home’s purchase price without having to put any money down at closing. Zero-down mortgages can be particularly beneficial for those buying a home for the first time or with limited savings.
The easiest way to avoid a down payment is to qualify for one of the two no-down payment mortgage programs backed by the government: a USDA or a VA loan.
The U.S. Department of Agriculture (USDA) backs USDA home loans, a mortgage guarantee program for those buying a home in designated rural areas. There are many areas you might not consider “rural” that do qualify under USDA guidelines, so be sure to check your eligibility on the USDA website. USDA loans don’t require a down payment, but borrowers must meet credit and income requirements to qualify.
Although there’s no down payment with a USDA loan, there is an upfront guarantee fee of 1 percent of the principal loan amount, as well as an annual fee of 0.35 percent, which borrowers can roll into the cost of the mortgage. While you won’t pay any money initially if you choose to roll these fees into the loan, keep in mind that it adds to the total balance and will accrue interest over the loan term, which means you’ll pay more overall.
If you’re a military service member, veteran or surviving spouse, you could be eligible for a VA loan guaranteed by the U.S. Department of Veterans Affairs (VA) with no money down. There is no mortgage insurance requirement with this loan. However, like a USDA loan, you do have to pay an upfront funding fee, which can be rolled into the mortgage. The funding fee ranges from 1.25 percent to 3.3 percent of the loan amount. You can reduce the funding fee by making a down payment.
Another perk: VA loan lenders often offer more competitive rates for these products, which helps you save money over the life of the loan.
Compare: Current VA loan rates
In addition to government-backed loans, you might be able to explore:
If you don’t qualify for one of the no-money-down home loan options, you might still be able to buy a home with the next best thing: a low-down payment mortgage.
Insured by the Federal Housing Administration (FHA), an FHA loan requires only 3.5 percent down with a credit score as low as 580. (If you have a credit score between 500 and 579, you might be able to qualify with a higher down payment of 10 percent.) It’s a popular option for homebuyers with less-than-perfect credit and not a lot of savings. Like other government-insured programs, FHA loans are offered by private mortgage lenders, so you might also have to meet a lender’s criteria to qualify. Additionally, you’ll have to pay for FHA mortgage insurance, which adds to your monthly payment and the cost of the loan. You’ll pay these premiums for as long as you have the mortgage, in most cases.
Compare: Current FHA loan rates
Available through many mortgage lenders, the HomeReady program is a conventional loan backed by Fannie Mae. The down payment requirement on a HomeReady loan is just 3 percent. While you’ll have to pay mortgage insurance to compensate for the low down payment, it’s often at a lower price tag compared to other conventional loans.
Backed by Freddie Mac, Home Possible is a similar mortgage program to HomeReady, with a 3 percent down payment and mortgage insurance requirements.
Freddie Mac also offers a 3 percent down mortgage option for first-time homebuyers who qualify through its HomeOne program. The main difference between this loan program and Freddie’s Home Possible mortgage is that a HomeOne mortgage does not impose income limits.
Some lenders are now offering mortgage programs for borrowers who qualify that only require a 1 percent down payment. Some examples include Rocket Mortgage’s ONE+ program and United Wholesale Mortgage’s Conventional 1% Down program. For these programs, the lender pays 2 percent of the required 3 percent down payment for a HomeReady or Home Possible loan — or up to a maximum contribution that varies by lender and loan size — and you only need to provide the remaining 1 percent.
A Conventional 97 mortgage is another Fannie and Freddie program that only requires a 3 percent down payment. You might pay more for private mortgage insurance (PMI) with this type of loan, but your payment depends on your financial profile. You can also request to cancel PMI when you reach 20 percent equity in your home.
The Good Neighbor Next Door (GNND) program is for borrowers who work in select public service professions — teachers, firefighters, law enforcement and emergency medical technicians — and are planning to buy a home in a qualifying area.
The program, sponsored by the U.S. Department of Housing and Urban Development (HUD), provides a discount of up to 50 percent on a home with a down payment of just $100. The borrower must qualify for a first mortgage, and the discounted portion of the home comes in the form of another loan. If the borrower continues to meet program requirements, the second mortgage won’t have to be repaid.
The ability to buy a home with no or very little money down can be appealing, but there are drawbacks, too.
Deciding whether to go for a no-down payment mortgage depends largely on your financial circumstances and goals. Here are a couple of scenarios when a zero-down mortgage might be a good idea:
The Department of Veteran Affairs and the U.S. Department of Agriculture DA don’t set a minimum credit score requirement for, respectively, their no-money-down VA and USDA loans. However, most lenders offering these loans do, and they’d want them to be at least in the “fair” range: 620 for VA loans, 640 for USDA loans. Because you’re not bringing any cash to the table, and financing virtually all of your mortgage, the lender has to be extra-reassured that you pay your debts fully and on time.
Source: bankrate.com
As Mother’s Day approaches, it’s the perfect time to express gratitude and love to the incredible women who have shaped our lives. Whether you’re celebrating your mom, a beloved grandmother, a mother figure, or a close friend stepping into a maternal role, finding the right gift can convey your appreciation in a meaningful way.
Whether she’s a maximalist who loves to decorate every nook and cranny with art works and curios, or a minimalist who loves cosy corners, we’ve got just the right curated drop to treat her this Mother’s Day.
Source: indulgexpress.com
It’s no secret that dating can be expensive. Be it fancy dinners or flowers and gifts, the cost of impressing your date can add up quickly.
But spending more doesn’t always correlate with a successful date—or relationship, for that matter. In fact, sometimes cheap date ideas are more effective at creating connections and leading to long-lasting relationships. Here are a few fun cheap date ideas that can fit any budget.
Whether you’re committed to a strict spending plan or simply want to save more and spend less, figuring out how to date on a budget is completely doable with these tips.
Not setting a budget for dates ahead of time can quickly devolve into overspending. Likewise, coming up with a cute cheap date idea every time can feel like a chore and take the fun out of planning. Instead, try switching between one pricier and one cheap or free date night activity so you’re only spending a sizable amount on half of your dates. This way, you’ll be able to indulge in going out sometimes and still find ways to save money on date night.
Just because something’s half price doesn’t make it any less fun or romantic. Instead of splurging on a three-course meal, consider a happy hour date to score lower-price drinks and appetizers. If you’re in charge of planning the date, there are plenty of free or cheap date ideas to help you have fun while staying within budget.
First impressions matter, so you might find yourself shelling out some cash on a first date. But don’t feel like you need to go overboard to impress your date—here are a couple of fun cheap date ideas that won’t hurt your wallet.
Ditch the Michelin-starred restaurants and eat like a local, meeting at a neighborhood cafe or a popular hole-in-the-wall spot. Opting for cheap eats over formal dining options can help keep the date lighthearted and the vibe relaxed as you’re still getting to know one another.
Another cheap first date idea may come courtesy of your local chamber of commerce or public library. Most cities offer free outdoor activities like concerts and festivals, while libraries often share free or low-cost passes to state parks and local museums.
After you’ve been on a first date (or a few) and you and your partner are both comfortable, you may favor staying in. Save even more with these cheap romantic date ideas you can have at home.
Some cute cheap date ideasat home include visiting a farmer’s market to buy ingredients for a home-cooked meal—and then cooking it together. Or if cooking’s not your strength, keep it simple with a charcuterie board and board game. Host a backyard or rooftop stargazing session to ramp up the romance—bonus points if you align it to a meteor shower or other astronomical event.
As you get to know one another, you may feel ready to take your relationship to the next level. Consider these cheap date night ideas that focus on aligning your financial values to help ensure a long-lasting, happy future.
While maybe not the most exciting idea, reserving one night to figure out plans and set a budget for future date nights is one of the easiest activities you can do. It’s also a great way to ensure you’re both on the same page about how much you want to spend and what activities you’d like to try.
Take a financial personality quiz to see how your beliefs shape your financial behaviors. With a clearer sense of how you both view money, you can better align on things—like how much you want to budget for date nights—without compromising your relationship over money.
If you’re serious about your relationship, discussing your financial future on a regular basis can potentially set your relationship up for long-term success. Establish a regular time to talk about your finances—potentially once a month—and keep it casual. Especially if engagement and marriage are on the table, making a habit of talking about money can ensure your financial aspirations are aligned.
Brainstorming fun cheap date ideas can be a date all on its own, and sometimes, the free activities are the most meaningful. Now is also a great time to think about what you can do with the cash you’re saving and how you might use it for your future together. If you’re planning a more extravagant experience, like a trip or big party, consider putting that money away in a high-yield savings account. With a clear budget and plan for staying on track, you can ensure your cheap date nights are just as rewarding as the pricier nights out.
Once you’ve got your date night budget sorted, check out the features of a Discover® Online Savings Account to see how you can make your money work a little harder for your next big date.
Articles may contain information from third parties. The inclusion of such information does not imply an affiliation with the bank or bank sponsorship, endorsement, or verification regarding the third party or information.
Source: discover.com
Money management — how to save, budget, and invest — is a vital life skill that isn’t part of most school curriculums. As a result, it often falls to parents to prepare kids for this aspect of adulthood. The trouble is, talking about things like spending, saving, and taxes with your kids may not come naturally, especially if you were raised in a “don’t talk about money” household.
So when — and how — do you start talking about money with your kids?
Generally, it’s never too early to begin teaching kids about the concept of money. You might start just by normalizing conversations about money, so kids feel comfortable asking questions. Other easy strategies include offering a piggy bank to young kids, to introduce the concept of saving, and providing an allowance to older children, which helps them learn to budget and manage their own money.
Read on to learn more about some of the best ways to teach kids about money and put them on the path towards financial health and independence.
Whether it’s the importance of saving or how to open a new bank account, money lessons help ensure that kids will make smart financial decisions in the future.
Children who are introduced to basic financial concepts at an early age are likely to feel more confident about their spending habits and have less financial anxiety when they’re older. Teaching young children simple lessons about money management also makes it easier to impart more complex financial lessons as they get older. This can help set them up for success when they get that first summer job, go off to college, and enter the working world.
First, let’s look at the big picture. Helping kids understand the basics of money management is important…but what is money management anyway? Some adults can’t answer that question, let alone explain it to their children.
Simply put, money management refers to how you handle all of your finances. It involves keeping track of what’s coming in and what’s going out (and making sure that latter doesn’t exceed the former), being smart about debt, and setting money aside for both short- and long-term goals.
While adults generally understand that saving money is important, it typically takes an engaging approach to get kids psyched about hoarding their pennies rather than spending them on a video game. With the right strategies, however, teaching kids about money management can wind up being a satisfying and fun experience for the whole family. It might even give you a renewed focus on your own money skills.
Here’s a look at some of the best ways to boost money management for kids.
Children as young as three years old can start to grasp the basic concept of “We need dollars to get ice cream.” Talking about money in a positive, or simply neutral, way and being transparent about your own financial life (“I got paid today,” or “I need to pay bills tonight”) begins to ground kids in the ebb and flow of finances. It helps a child learn the value of money.
Parents can use a routine trip to the grocery store to point out price tags and how some things cost more than others. Asking a salesperson or cashier, “How much is this?” can clue children in to a transactional truth: You have to have money to buy something. Paying bills in front of them helps them understand that families also have household expenses.
Offering an allowance can be a great way to teach kids to manage money responsibly. The ground rules for a child’s allowance vary from family to family; some start a child off with an allowance at age five, and others at age 14. How much kids get also varies widely and is entirely up to you. One rule of thumb is to match the number of dollars per week with a child’s age, such as $10 a week for a ten year old. You might also ask around among other parents to get a sense of the “going rate.”
Here’s a look at the two common ways to structure allowance.
• Chore-based allowance: With this set-up, a child does chores in order to get paid. This system can instill a strong work ethic that will benefit children in the future. Some say a drawback of this method is that it could send a message that household chores are optional. But for many families, it works well.
• Fixed allowance: Here, you agree to pay your child a set amount of money every week or month no matter what. Separately, they are expected to do their chores and help around the house because they are part of the family. This arrangement allows a child to feel part of a greater whole — to be responsible for the tidiness of their room and offer to help with the dishes because that’s what family members do. Some may argue that paying children an allowance that isn’t chore-based could compromise their work ethic or promote a sense of entitlement, but it’s really up to each family to determine what works best for them.
Just as adults are motivated to save when they want to have enough money for, say, a vacation or new car, your child may be incentivized to save a target amount for a specific purpose. Or, you may have a child who just wants to see how high their savings can go — that’s fine too! You can encourage them to save just to find out how much they can stash.
You might also offer rewards for reaching savings milestones. For example, you could make a deal that if your child saves a certain amount, you’ll kick in a little bit more. This rewards them for exercising restraint, and it’s similar to a vesting or “company match” principle, which you could explain to an older child.
For younger kids, keeping money close at hand can work well. Having their own piggy bank or child’s safe can also make saving more fun. For older kids, you might want to open a savings account in their name. Many banks offer savings accounts specifically geared toward children and teens. Typically, these are joint or custodial accounts that come with parental controls and tools that teach financial education.
As teenagers become more independent and start driving themselves around, consider enrolling your child as an authorized user on one of your credit cards. This can not only be helpful in the event of an emergency, like a flat tire, it’s an opportunity to discuss how to be responsible with credit. You can explain how credit cards work differently than debit cards and how interest racks up quickly if you don’t pay off what you charge in full by the end of the billing cycle.
Once your kids are earning money regularly and responsible for paying their own room and board, it’s a good idea to help them draw up a budget based on their salary and estimated expenses.
There are all kinds of budgeting methods, but they might start with the basic 50/30/20 approach. This involves putting 50% of their earnings toward needs, 30% toward wants, and 20% toward savings (including any money they are putting into a retirement plan offered by their employer). If their employer offers any matching contributions to their retirement contributions, encourage them to take full advantage, since this is essentially free money.
To make financial literacy fun and engaging, try one of these four money activities for kids.
Buying second-hand clothes can be a great way to teach kids how to be smart spenders. You might first go to a regular clothing store and look at the price tags on new clothing, then head to a local thrift store and compare prices. Consider giving your child a set amount they can spend on second-hand clothing. You can then enjoy watching them try to get as much as they can for their money.
If you’re teaching more than one child about money, consider setting up a competition to see which sibling can save more by a certain date. You might set a goal, such as saving a specific amount or towards a specific item, then offer a reward to the winner.
Letting kids set up and run a lemonade stand can help them learn valuable lessons about money, including earning income and entrepreneurship. It can also help them build confidence, resilience, and management skills. Plus, it’s fun. Just be aware that many states require kids to have a permit to operate a lemonade stand, so the first step is doing a bit of research.
Classic board games like Monopoly and Payday can also be great money activities for children. In Monopoly, for example, players buy and trade properties, develop them, and collect rent. There is even Monopoly Jr. for younger kids. Other fun money board games for your next family game night: the Game of Life, the Allowance Game, the Stock Exchange Game, and the Sub Shop Board Game.
Recommended: 52 Week Savings Challenge (2024 Edition)
Teaching kids about money and how to manage it can prepare them to be financially responsible adults. By offering an allowance or payment for doing extra chores, kids can learn the value of money and rewards of saving and delayed gratification. Helping older kids learn how to budget and set up a bank account can instill a sense of confidence and independence, not to mention pride.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
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Children as young as three years old can begin to understand the concept of paying for something and saving money in a piggy bank. Some parents start giving kids an allowance between the ages of five and seven, which can help them learn basic financial literacy concepts like saving, spending, and sharing. As kids get older, you can gradually introduce more complex concepts like budgeting, investing, and “good” vs. “bad” debt.
Teaching kids about money has numerous benefits. It instills financial responsibility, fosters good habits early on, and prepares them for real-world financial challenges. It also encourages critical thinking, goal-setting, and independence in making financial decisions.
You can teach the value of money through hands-on experiences and age-appropriate activities. Encourage earning money through chores or tasks, involve them in family budgeting discussions, and demonstrate the consequences of spending choices. Emphasize the importance of saving for goals and how to differentiate between needs and wants.
You can organize a kid’s money by helping them establish savings goals, allocate their money into different categories (such as saving, spending, and giving), and track their progress regularly. Consider using tools like jars, envelopes, or savings accounts to physically or digitally separate their money.
The “three piggy bank” system involves dividing money into three categories: saving, spending, and sharing. Each piggy bank represents a different purpose, teaching kids to allocate their money wisely. They learn the importance of saving for future goals, budgeting for everyday expenses, and contributing to charitable causes or sharing with others. This system helps instill foundational money management skills in a simple and practical way.
Photo credit: iStock/kate_sept2004
SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
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Source: sofi.com
Have you been asking yourself, “Should I move to Wichita?” If you’re looking for a city that offers a high quality of life and a welcoming atmosphere, this city may be the perfect place for you. Located in the heart of the Midwest, Wichita offers a special blend of urban amenities and small-town charm. From its dynamic arts and culture scene to its rich aviation history, there’s always something to explore in this bustling city. So, before making the move to Wichita, it’s important to know if your lifestyle is compatible with the area. In this article, we’ll discuss the pros and cons of living in Wichita to help you decide if it’s the right place for you. Let’s jump in.
Walk Score: 35 | Bike Score: 44 | Transit Score: 20
Median Sale Price: $232,000 | Average Rent for 1-Bedroom Apartment: $860
Wichita neighborhoods | Houses for rent in Wichita | Apartments for rent in Wichita | Homes for sale in Wichita
This city stands out for its affordability with the cost of living in Wichita 11% lower than the national average. This allows many residents to enjoy a comfortable lifestyle without breaking the bank. This affordability extends to various aspects of life, including groceries, utilities, and entertainment options. Additionally, the median home price in Wichita is about $200,000 less than the national average, making homeownership more accessible to a broader range of people.
With a Transit Score of 20, one of the drawbacks of Wichita is the limited public transportation options. The city relies heavily on buses, with a lack of extensive subway or tram systems found in larger cities. This can make commuting challenging for those without a vehicle, particularly in areas not well-served by the existing bus routes. Additionally, the frequency and coverage of bus services can be limited, especially on weekends and evenings, further complicating mobility for residents without cars.
Wichita is home to an exciting cultural scene boasting a variety of museums, galleries, and theaters. For example, the nearby Wichita Art Museum houses one of the largest collections of American art in the country. There are also numerous festivals and events throughout the year, including the Wichita River Festival, which attracts visitors from all over with its concerts, food, and fireworks. These cultural attractions provide residents with enriching experiences and opportunities to engage with the community.
Residents of Wichita must be prepared to face weather extremes throughout the year. The city experiences hot, humid summers with temperatures often soaring above 90 degrees Fahrenheit, while winters can be bitterly cold and snowy. Additionally, Wichita is located in an area prone to severe weather. This includes thunderstorms and tornadoes, particularly during the spring and early summer months. These weather extremes can be a significant drawback for those not accustomed to such variability.
Wichita possesses a strong job market, especially in the aviation, healthcare, and manufacturing sectors. The city is known as the “Air Capital of the World,” hosting numerous aerospace companies, including Spirit AeroSystems and Textron Aviation. This specialization has created a wealth of job opportunities for engineers, mechanics, and other skilled professionals. Additionally, the city’s healthcare system is a major employer, providing a range of career options for those in medical and allied health professions.
For those seeking a bustling nightlife, Wichita may fall short of expectations. While there are bars and entertainment venues, the variety and scale of nightlife options are limited compared to larger cities. However, the city has been making efforts to revitalize its downtown area. These efforts have introduced new venues and events aimed at enhancing the nightlife experience.
Wichita boasts a strong sense of community spirit, with friendly residents and a welcoming atmosphere. The city holds volunteerism and community events, which foster a sense of belonging and involvement among locals. Neighborhood associations and local groups are active in organizing events, beautification projects, and other initiatives that enhance the quality of life. This community-minded approach makes Wichita a great place to live for those who value connectivity and a supportive environment.
While Wichita has a growing food scene, the diversity in dining options can be limited compared to larger metropolitan areas. Residents looking for international cuisine might find the choices somewhat restricted, with a heavier focus on traditional American and barbecue fare. However, the city has seen an influx of new restaurants and food trucks in recent years. This has been slowly broadening the culinary landscape to include more varied and international dishes.
Wichita is surrounded by natural beauty and offers numerous parks and recreational areas.The city’s location along the Arkansas River includes scenic paths and parks perfect for walking, biking, and picnicking. Sedgwick County Park and the Great Plains Nature Center offer additional spaces for hiking, bird watching, and connecting with nature. These green spaces are a significant advantage for those who enjoy spending time outdoors.
Wichita sometimes struggles with the perception of being a “flyover” city, overlooked by those traveling between the coasts. This perception can impact the city’s ability to attract new businesses and tourists, who may not realize the cultural, recreational, and economic opportunities available. However, those who take the time to explore Wichita often discover a vibrant community full of surprises and hidden gems.
Wichita’s economy is not only strong in traditional sectors like aviation and healthcare but is also fostering an innovative business environment. The city is becoming a hub for startups and entrepreneurship, supported by initiatives like the e2e Accelerator and Wichita State University’s Innovation Campus. These efforts are creating a dynamic atmosphere for business development and innovation, attracting new talent and investment to the city. This entrepreneurial spirit is a significant pro for Wichita, signaling a bright future for its economy.
While Wichita offers beautiful parks and outdoor areas, the distribution of these public spaces can be uneven across the city. Some neighborhoods lack easy access to parks or recreational facilities, which can affect residents’ quality of life, particularly in more densely populated or underserved areas. Efforts are underway to address this imbalance, with plans for new parks and improvements to existing ones, aiming to ensure all Wichitans can enjoy the benefits of public spaces.
Source: rent.com
Nestled in the heart of the Great Plains, South Dakota provides residents a unique blend of natural beauty, rich history, and tight-knit communities. Living in South Dakota means embracing a lifestyle defined by wide-open spaces, outdoor adventure, and a strong sense of community. From the city life of Sioux Falls, with its bustling downtown and vibrant cultural scene, to the historic charm of Rapid City, gateway to the Black Hills and home to iconic attractions like Mount Rushmore, South Dakota offers a diverse array of experiences. In this ApartmentGuide article, we’ll uncover the pros and cons of living in South Dakota, so you can learn what life is like in “The Mount Rushmore State.”
With its diverse landscapes providing the perfect backdrop for various recreational activities, South Dakota is the perfect place for exploring. Residents can enjoy hiking in the Black Hills, fishing in the Missouri River, and camping in the state’s numerous parks and wilderness areas. For example, Custer State Park boasts scenic trails and wildlife viewing opportunities, while Badlands National Park offers unique rock formations and scenic overlooks.
South Dakota experiences harsh winters characterized by frigid temperatures, heavy snowfall, and strong winds, which can pose challenges for residents. Cities like Rapid City and Sioux Falls often contend with blizzards and extreme cold snaps, leading to hazardous driving conditions and disruptions to daily life.
South Dakota boasts a low cost of living compared to many other states, with affordable housing, utilities, and overall expenses. Cities like Sioux Falls offer residents access to affordable housing options, with median home prices and rental rates below the national average. For instance, the median home price in Sioux Falls is $317,836 and the average rental price for a one-bedroom is $930, making housing more attainable for many South Dakotans.
South Dakota may have fewer entertainment options compared to more populous states, particularly in terms of nightlife, cultural attractions and restaurants. While cities like Aberdeen offer some entertainment venues and events, residents may find a lack of diversity and variety in recreational activities.
South Dakota is known for its strong sense of community, with residents often forming tight-knit bonds and supporting one another. Towns like Mitchell host community events and festivals that bring people together, such as the Shrine Circus, which adds to the community spirit.
South Dakota may have limited public transportation options, especially in rural areas, which can hinder residents’ mobility and access to essential services. For instance, Sioux Falls has a transit score of 17, meaning there is minimal transit available.
South Dakota enjoys low traffic congestion compared to more densely populated states, providing residents with shorter commute times and less stress on the road. Cities like Brookings have minimal traffic congestion, making it easier for residents to navigate urban areas and access amenities.
South Dakota’s sparse population density, particularly in rural areas, can contribute to feelings of isolation and limited access to services and amenities. These rural towns and communities may be far removed from major urban centers and regional hubs, leading to challenges in accessing certain amenities and services.
South Dakota’s lack of state income tax is a significant advantage for residents, allowing them to keep more of their earnings. This tax-friendly policy attracts individuals and businesses seeking to minimize their tax burden and maximize their disposable income.
South Dakota’s economy is heavily dependent on sectors such as agriculture, tourism, and healthcare, which can make it vulnerable to economic fluctuations. Deadwood and Spearfish rely on tourism and hospitality, while towns like Mitchell and Huron depend on agriculture and agribusiness. This economic dependence can lead to job insecurity and slower economic growth.
Methodology : The population data is from the United States Census Bureau, walkable cities are from Walk Score, and rental data is from ApartmentGuide.
Source: apartmentguide.com
On most months in modern economic memory, a gain of 175k payrolls would be welcome news for the labor market. Depending on the context, it still is. But in today’s case, it’s much lower than the market expected and not a high enough number to justify the 4.6+ 10yr yields seen yesterday. Bonds rallied instantly when the news printed, but one rate-friendly jobs report is only a fine tuning adjustment to a rate environment dominated by inflation concerns.
Evidence of inflation concerns was available in real time today following the ISM Services data. The headline was weaker, which would normally be good for bonds. But the price component was quite a bit higher, which was enough for the bond market to react negatively.
Despite the push-back, bonds remain in much stronger territory and have now mad solid gains 3 days in a row. Yields are back in line with the afternoon of the last CPI day on April 10th.
Source: mortgagenewsdaily.com
While mortgage rates remain higher than they were during the housing market’s booming pandemic years, Moody’s Ratings has predicted them to finally start declining over the next few years in a new report.
Exactly a week ago, the Federal Home Loan Mortgage Corporation, better known as Freddie Mac, reported that the average rate for a 30-year-fixed mortgage—the most popular among U.S. borrowers—had reached 7.1 percent, a record high for this year so far.
Read more: How to Find the Right Mortgage for You
Moody’s Ratings’ experts believe mortgage rates will come down—just not as quickly as homebuyers might wish for. The financial research company is currently estimating that mortgage rates will remain higher “than the extremely low levels during the decade of aggressive central bank stimulus that preceded the past two years” in the coming months, but will likely reach around 6 percent or somewhat less by the end of 2025.
This is good news for aspiring homebuyers who have been squeezed out of the market by skyrocketing home prices and high mortgage rates, which climbed as a direct consequence of the Federal Reserve’s aggressive rate-hiking campaign to combat the rise of inflation last year.
While most analysts expect the central bank to lower interest rates this year, the Federal Reserve has so far failed to do so, as the latest data on the cost of living show that inflation remains higher than expected at 3.48 percent in March. The Federal Reserve does not directly set mortgage rates, but any rise in interest rates impacts new mortgage lending.
Read more: Compare Low Rates With the Best Mortgage Lenders
Higher mortgage rates led to a drop in demand in late summer 2022 due to the unaffordability of buying a home for many Americans; but the price correction that followed this slide in demand was rather modest. In spring 2023, prices started climbing back up across the country, as the supply of homes remained low.
While the historic shortage of homes in the U.S. can primarily be traced back to the fact that the country has under-built following the bursting of the housing bubble and the financial crisis of 2007-2008, high mortgage rates have also caused many homeowners to hold on to their homes instead of putting them on the market.
“Many U.S. homeowners have low fixed-rate mortgages that they are reticent to give up, which is constraining existing property listings and sales,” Moody’s wrote in the report.
Faced with a growing demand for new constructions and mortgage interest rate buydowns, the company’s experts expect home prices to avoid significant decline in the coming months, sliding by a moderate 5 percent this year after falling 6.6 percent in 2023.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Source: newsweek.com