What’s the newest Royal Caribbean cruise ship? It may seem like a strange question to ask, but it’s something that matters if you’re in the market for a Royal Caribbean cruise.
The newest Royal Caribbean ship is typically also the Royal Caribbean ship with the most bells and whistles and the most up-to-date cabins, restaurants, bars and attractions. It’s what you want if you want the very latest and greatest in a vessel for your Royal Caribbean cruise vacation.
Right now, the newest Royal Caribbean cruise ship is Wonder of the Seas. It debuted in March 2022. Although it’s just about one year old, it’ll soon be supplanted as the newest Royal Caribbean vessel by the much-awaited Icon of the Seas — the first of a new class of vessels for the line. Icon of the Seas begins sailing in January 2024.
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Other relatively new Royal Caribbean ships include Odyssey of the Seas, Spectrum of the Seas and Symphony of the Seas. All began sailing in the last five years.
In all, Royal Caribbean operates 26 cruise vessels. On average, the line comes out without about one new ship a year, and it typically keeps vessels in its fleet for around 20 to 30 years before retiring them from the fleet. The oldest Royal Caribbean ship, Grandeur of the Seas, is 27 years old.
In general, Royal Caribbean’s newest ships are far bigger and much more amenity-packed than its older ships. If you crave a lot of activities in a Royal Caribbean cruise vacation, you’ll want to stick to vessels built in the last 15 or so years.
Related: The 6 types of Royal Caribbean ships, explained
Royal Caribbean’s oldest cruise ships — those built in the 1990s and early 2000s — in many cases are just half to a third the size of the line’s newest vessels and have far fewer venues on board. Still, even these smaller ships offer a lot of attractions as compared to many vessels at competing lines.
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Royal Caribbean is known for bustling, activity-packed ships across its fleet.
Here, every Royal Caribbean ship currently in operation is ranked from newest to oldest:
1. Wonder of the Seas
Maiden voyage: 2022. Size: 235,600 gross tons. Passenger capacity: 5,734.
2. Odyssey of the Seas
Maiden voyage: 2022. Size: 167,704 gross tons. Passenger capacity: 4,284.
3. Spectrum of the Seas
Maiden voyage: 2019. Size: 169,379 gross tons. Passenger capacity: 4,246.
4. Symphony of the Seas
Maiden voyage: 2018. Size: 228,081 gross tons. Passenger capacity: 5,518.
5. Harmony of the Seas
Maiden voyage: 2016. Size: 226,963 gross tons. Passenger capacity: 5,479.
6. Ovation of the Seas
Maiden voyage: 2016. Size: 168,666 gross tons. Passenger capacity: 4,180.
7. Anthem of the Seas
Maiden voyage: 2015. Size: 168,666 gross tons. Passenger capacity: 4,180.
8. Quantum of the Seas
Maiden voyage: 2014. Size: 168,666 gross tons. Passenger capacity: 4,180.
9. Allure of the Seas
Maiden voyage: 2010. Size: 225,282 gross tons. Passenger capacity: 5,484.
10. Oasis of the Seas
Maiden voyage: 2009. Size: 226,838 gross tons. Passenger capacity: 5,602.
11. Independence of the Seas
Maiden voyage: 2008. Size: 154,407 gross tons. Passenger capacity: 3,634.
12. Liberty of the Seas
Maiden voyage: 2007. Size: 154,407 gross tons. Passenger capacity: 3,798.
13. Freedom of the Seas
Maiden voyage: 2006. Size: 156,271 gross tons. Passenger capacity: 3,926.
14. Jewel of the Seas
Maiden voyage: 2004. Size: 90,090 gross tons. Passenger capacity: 2,191.
15. Mariner of the Seas
Maiden voyage: 2003. Size: 139,863 gross tons. Passenger capacity: 4,000.
16. Serenade of the Seas
Maiden voyage: 2003. Size: 90,090 gross tons. Passenger capacity: 2,143.
17. Navigator of the Seas
Maiden voyage: 2002. Size: 139,999 gross tons. Passenger capacity: 3,388.
18. Brilliance of the Seas
Maiden voyage: 2002. Size: 90,090 gross tons. Passenger capacity: 2,142.
19. Adventure of the Seas
Maiden voyage: 2001. Size: 137,276 gross tons. Passenger capacity: 3,114.
20. Radiance of the Seas
Maiden voyage: 2001. Size: 90,090 gross tons. Passenger capacity: 2,143.
21. Explorer of the Seas
Maiden voyage: 2000. Size: 137,308 gross tons. Passenger capacity: 3,286.
22. Voyager of the Seas
Maiden voyage: 1999. Size: 137,276 gross tons. Passenger capacity: 3,602.
Maiden voyage: 1997. Size: 82,910 gross tons. Passenger capacity: 2,252.
25. Rhapsody of the Seas
Maiden voyage: 1997. Size: 78,419 gross tons. Passenger capacity: 1,998.
26. Grandeur of the Seas
Maiden voyage: 1996. Size: 73,817 gross tons. Passenger capacity: 1,992.
What is the newest Royal Caribbean ship?
The newest Royal Caribbean cruise ship is Wonder of the Seas. As noted above, it debuted in March 2022. Measuring 235,600 gross tons, it’s the biggest cruise ship ever built. It’s also loaded with more restaurants, bars, showrooms and deck-top attractions than you’ll find on any other ship at sea.
TPG sent a three-person team, at our own expense, to review Wonder of the Seas and all its new features after it began sailing. For more on the ship, see the following guides and reviews from these staffers:
What is the oldest Royal Caribbean ship?
The oldest Royal Caribbean cruise ship is Grandeur of the Seas. Unveiled way back in 1996, it’s not just the oldest Royal Caribbean ship but the smallest Royal Caribbean ship — far smaller than the newest Royal Caribbean vessels. Measuring just 73,817 gross tons, it’s just a third the size of Wonder of the Seas and has far fewer venues.
Except for a rock climbing wall, Grandeur of the Seas has none of the gee-whiz deck-top attractions found on bigger Royal Caribbean vessels, such as skydiving simulators and giant water parks. For the most part, its top deck is lined with pools, whirlpools and sunning areas, as is typical for ships built in the 1990s.
That said, Grandeur of the Seas has a loyal following among Royal Caribbean fans who prefer smaller and more intimate ships.
What new Royal Caribbean ships are coming?
Royal Caribbean currently has four new cruise ships on order. The first to arrive will be Icon of the Seas in January 2024. As noted above, it’s the first of all-new class of vessel for the line that, as of now, will be made up of three ships (Royal Caribbean could order more Icon-class ships in coming years — we’ll see). Two more ships in the series are due in 2025 and 2026, respectively.
The Icon-class vessels are being built at the giant Meyer Turku shipyard in Turku, Finland.
Related: The ultimate guide to Icon of the Seas itineraries, attractions and more
In addition, Royal Caribbean has a sister vessel to Wonder of the Seas on order for delivery in 2024. To be called Utopia of the Seas, it’s the sixth and final vessel in the line’s groundbreaking Oasis-class series that began rolling out in 2009. It’s currently under construction at the Chantiers de l’Atlantique shipyard in St. Nazaire, France.
What is the newest Royal Caribbean ship available for booking?
Icon of the Seas is the newest Royal Caribbean ship that you can book right now. While the ship isn’t yet sailing, its initial sailings scheduled for January 2024 already are on sale, as are future sailings through April 2025. The three other Royal Caribbean ships on order have yet to open for bookings.
What is the newest class of Royal Caribbean ships?
The Icon class is the newest class of Royal Caribbean ships. It’ll be made up of at least three vessels, the first of which (Icon of the Seas) is due to debut in January 2024.
At 250,600 tons, Icon of the Seas will be more than 6% bigger than the biggest Royal Caribbean ships currently at sea. It’ll hold up to 7,600 passengers — a new record for a passenger ship. That’s about 7% higher than the maximum capacity of Wonder of the Seas, which can hold up to 7,084 passengers.
The bigger passenger capacity is in part due to the ship’s greater focus on family travelers. Icon of the Seas is being built with a lot more cabins that have plenty of extra bunks to accommodate families with many children. It’ll also have more amenities geared to families, including a new-for-the-line outdoor “neighborhood” called Surfside dedicated to families with young children.
What’s the difference between newer and older Royal Caribbean ships?
Newer Royal Caribbean ships generally are bigger than older Royal Caribbean ships — sometimes much bigger. As a result, they have room for a lot more onboard venues and attractions than the line’s older vessels.
On Royal Caribbean’s newest and biggest Oasis-class vessels, for instance, you’ll find three separate main pool areas, a kiddie splash zone, surfing simulators, a miniature golf course, a basketball court and even a zip line. And that’s just on their top decks. Inside the vessels, you’ll find more lounges, bars, restaurants and shops than you can imagine — plus huge casinos, spas and showrooms with Broadway-style shows. They even have indoor ice skating rinks.
In short, they’re like giant floating versions of the megaresorts you find in the Orlando area or Las Vegas, and they appeal to people who like a megaresort experience.
Related: The ultimate guide to Royal Caribbean
Royal Caribbean’s older ships are a half to a third smaller and lack many of the above features. They have a much more intimate feel, at least in the pantheon of relatively big, mass-market ships, and they hold far fewer people. While Oasis-class ships can hold more than 6,600 passengers with every berth full, the line’s four oldest vessels (known as the Vision class) are only designed to carry about 2,000 passengers at double occupancy.
That makes them a good choice for someone who wants to try Royal Caribbean but isn’t eager to travel with huge crowds. The oldest ships in the Royal Caribbean fleet thus appeal to a subset of Royal Caribbean fans who prefer more intimacy in a cruise vessel and don’t mind giving up some onboard amenities to get it. They are also often less expensive to sail on, on a per-day basis.
Related: Don’t miss out on these Royal Caribbean loyalty perks
In addition, because of their size, the oldest ships at Royal Caribbean are able to operate itineraries to places that aren’t as easy for big ships to visit. Not all ports in the world can handle a ship the size of Wonder of the Seas.
Note that all Royal Caribbean ships are renovated and upgraded on a regular schedule every few years, so even the oldest Royal Caribbean cruise vessels have newer carpeting, updated furniture, modern decor in cabins and other updates. In many cases, they also have had entire eateries and bars renovated over the years with concepts that first debuted on newer vessels.
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Scroll through TikTok’s finance feed and you’ll come across viral videos on “infinite banking.” The concept is making a splash on social media, fueled by celebrities like rapper Waka Flocka Flame.
But infinite banking is nothing new. The term was coined by economist Nelson Nash in the 1980s and outlined in his 2000 book, “Becoming Your Own Banker: Unlock the Infinite Banking Concept.” The strategy involves tapping into the cash value of certain life insurance policies like whole life and treating it as a personal bank.
Nash promoted infinite banking as a path to financial freedom and wealth creation. But it’s a little more complicated than Waka Flocka Flame and TikTokkers claim.
How infinite banking works
Whole life insurance policies usually last your entire life and have a cash value component that grows at a guaranteed rate over time. This rate of return varies among insurers, but it’s typically around 5%, Barry Flagg, a chartered life underwriter in Tampa, Florida, and the founder of the life insurance research company Veralytic, said in an email.
Once your policy has accumulated enough cash value, you can begin to take out loans against the funds — and that’s where the concept of “banking on yourself” comes in.
When you pay your life insurance premium, a portion goes to the policy’s cash value component. Infinite banking takes it one step further: Policyholders pour extra money into the cash value to speed up growth. They then treat it as a personal line of credit and borrow against the policy’s cash value to pay for large purchases instead of relying on traditional lenders or dipping into savings.
But cash value life insurance can be complex and pricey, and infinite banking is a nuanced concept. For these reasons, it’s best suited to high net worth individuals with a high risk tolerance to match, Flagg says.
Turning your policy into a personal bank
This strategy has perks. For example, you don’t have to qualify for a cash value loan in the same way you do for traditional loans. The money within cash value policies is liquid, and there’s no requirement to repay the loan by a set date — or at all. If you don’t, though, your insurer will subtract the amount you borrowed from the policy’s death benefit, leaving your beneficiaries with a lower payout when you die.
Under infinite banking, the cash value is collateral for the loan and the life insurance policy is tied to it. This means you risk losing your coverage if you don’t watch the cash value closely. Insurers charge interest on cash value loans, too.
“If you were truly borrowing from yourself, you wouldn’t be paying yourself interest,” says Daphne Jordan, an Austin, Texas-based certified financial planner and wealth adviser at Pioneer Wealth Management Group.
What’s more, infinite banking is expensive. For example, a healthy 40-year-old man can expect to pay $7,028 per year on average for a $500,000 whole life policy, according to Quotacy, an online life insurance brokerage. In most cases, he’d pay premiums every year for the rest of his life.
The financial obligations don’t stop there. Infinite banking only works when policyholders overfund the cash value. For a 40-year-old man in good health, that means contributing money beyond the $7,028 paid in annual premiums. It’s common practice in infinite banking to allocate around 10% of your income to the cash value each month, which is no small commitment.
Another downside of infinite banking is time. It can take years or even decades to build the cash value you need to start taking out loans without penalty.
Think about your priorities
The primary purpose of life insurance is to leave money to your loved ones when you die, not build wealth.
For Jordan, wealth creation is a science, and it starts with taking care of the basics.
Think paying off debt like student loans and credit cards and building an emergency savings fund. Aim to open a high-yield savings account at a bank insured by the Federal Deposit Insurance Corp., or FDIC, or at a credit union backed by the National Credit Union Administration, or NCUA, and save enough money to cover three months of living expenses.
Focusing on your retirement comes next. Jordan recommends directing at least 10% of your income into a tax-advantaged retirement account, like a 401(k) or Roth IRA, before exploring something like infinite banking.
“When you’re on an airplane, they always tell you to put the oxygen mask on yourself before helping others,” Jordan says.
“The way you do that with building wealth is to get rolling on saving for the unexpected and saving for your future self.”
This article was written by NerdWallet and was originally published by The Associated Press.
Stone walls, crocodile-filled moats, Rottweilers — our ancestors found some pretty creative home security solutions!
Today’s home security systems feature a more tech-savvy approach, but the goal remains the same: to keep your family, your property, and your stuff safe from outsiders.
Recent innovations have fueled a new surge in home security sales.
As you shop around and compare systems, consider your home’s security challenges, your lifestyle, and your budget.
Chances are good you’ll find the system you need, whether you’re a new homeowner or just new to the home security market.
How Security Systems Have Changed Over Time and Recently
Believe it or not, tech-driven security systems have been around nearly two centuries. Augustus Russell Pope of Boston combined electricity, magnets, and a bell to create a burglar alarm in the 1850s.
Marketing the invention proved difficult, though, because people feared electricity as much as they feared intruders. As the decades passed, the world caught up with Pope’s idea.
By the early 20th century, electricity had grown safer and more common. The burglar alarm started to catch on.
By the 1970s, home security systems featured motion sensors. Off-site monitoring caught on in the 1980s.
Prices started to fall in the 1990s, making systems accessible for more homeowners. Now the internet has changed the industry again.
For a few hundred dollars in hardware and installation fees — or perhaps less if you install the system yourself — you can monitor your own home from your smartphone from work, school, your commute, or even while on vacation.
These new systems have drawbacks, too, so before you jump in, make sure you’re getting the security your family needs.
Monitored Vs Unmonitored Security Systems
This has become the first question to ask when shopping for home security: Should you pay more for a system with professional monitoring included?
For decades, monitoring fees prevented a lot of homeowners from getting a home security system.
Even the lowest fees can become cost-prohibitive when you pay them month after month and year after year for the indefinite future.
For those homeowners, unmonitored systems may offer the only way into the home security market. If you have a choice, though, give this question some thought.
Monitored systems come with some advantages you may like.
Advantages of Professionally Monitored Systems
Just like with cars, computers, and houses, you get what you pay for with a home security system.
A monitored system costs more, but consider these advantages:
More seamless responses: With an unmonitored system, it would be up to you to contact fire or law enforcement officials when you get an alert about an intruder. When you’re out of town, calling 911 probably won’t work as quickly since you’d have to be transferred between areas of jurisdiction. Someone monitoring your home should be able to contact officials more quickly.
Someone else deals with false alarms: When you’re at work or out shopping and you get a security alert from your unmonitored security system, it’s up to you to assess the risk. If the FedEx guy triggered the alarm by delivering this month’s dog food, you’d feel relieved. But when something like this happens several times a day, it starts to get distracting. A monitored system can take care of these distractions, saving your attention for when it really matters.
Equipment may be included: Customers who buy an unmonitored system tend to be responsible for maintaining and upgrading their own security equipment. A monitored system would more likely include the equipment and, naturally, its maintenance and upgrades. In a fast-changing industry, your gear can get outdated pretty quickly.
Protection isn’t dependent on cell service: Most of us always know where our phones are. But what happens when you’re in an area with poor service or when you lose your phone on the Slinky Dog ride at Disney’s Hollywood Studios? (I’m not judging!) You may not have access to your at-home security system alerts when most needed. A monitored service can contact authorities to protect your home even when you aren’t in the loop.
Advantages of Unmonitored Systems
Unmonitored, also known as self-monitored, home security systems have become the fastest growing segment of the market for a reason. Advantages include:
The cost, of course: Since you could use a self-monitored home security system without paying monthly fees, you can save a lot month to month and year to year. Even if you pay a professional to install the system’s panel or cameras, you can still avoid that monthly bill.
A perfect fit if you’re renting: The home security market has traditionally ignored renters since they don’t have the authority to install hardware or enter a long-term contract. An unmonitored system offers exactly what a renter needs: flexible service with no long-term commitment.
Having more control: When you’re making all the decisions about whether to call for help or whether it’s a false alarm, you’re automatically controlling the response level. Since you know better than anyone what’s normal at your home, this can prevent some confusion. For example, the monitoring service may not know your brother has a spare key but does not know the alarm code. Since you know this, you can automatically filter out the police response as a viable option (unless you really have it in for your brother).
Integrating additional home systems: Some of the best self-monitored systems are an extension of WiFi-enabled home automation. Along with feeling more secure, you can also lock or unlock doors, change your thermostat, turn certain lights on or off, and even control the garden sprinklers (and lawn mowers!), all from an app. (Traditional monitored services have started adding these features, too.)
Can You Get the Best of Both Worlds?
Wouldn’t it be nice if you could combine the best aspects of professionally monitored and self-monitored systems?
Well, the industry has been moving in that direction.
Here’s why: The rapid growth of self-monitored home security systems has grabbed the attention of the traditional home security companies.
The leading monitored services are compensating by adding modern conveniences such as app-based customer control and, in some cases, acquiring smaller, self-monitored home security companies.
And it’s not a one-way street: Some self-monitored services have added the option to have your home professionally monitored, but with a twist. You can get add-on monitoring for a fee only when you need it. That way you could still avoid the contracts and flat monthly fees.
As the market continues to evolve, I’d expect to see less separation between these two categories.
But full-time monitoring will continue to be a separator. It simply costs more money to have someone monitoring your home and responding to problems all day every day.
And in many cases, professional monitoring equals a more secure home.
Should You Buy a Monitored or Unmonitored Security System?
This gradual merging of monitored and unmonitored home security features could, ironically, make it harder to decide what kind of service to buy.
If you like the control an unmonitored system offers, you don’t necessarily have to opt for an unmonitored system anymore. You can find a monitored system with similar capabilities.
Or, if you want a monitored system because you’re out of town a lot, you no longer have to choose from only traditional security service providers. You may be able to find an unmonitored service with added-on monitoring periods without a contract.
If you can’t decide for sure, take a look at your home, your lifestyle, and your personal preferences. They can tell you a lot about your needs.
What Type of Home Do You Have?
The kind of home you’re protecting should help drive the kind of protection you buy.
Makes sense, right?
Well, it’s easy to forget such obvious things once you start comparing features, prices, contracts, apps, and customer reviews.
Take a look around your home. If you have two full floors full of windows and doors, along with a garage door and windows to consider, you’ll need a lot of equipment installed and maintained.
You’ll also have a lot more sensors to trigger false alarms. A monitored system could be worth the cost.
On the flip side, if you live in a 2-room apartment with just a few windows and only two doors, your up-front equipment investment will be less, and you’ll have fewer trigger points to keep an eye on as you monitor things while away. A self-monitored system could do the job.
How Connected Are You?
If a home security system sends an alert to your smartphone but no one is around to hear it, does it make a sound? We could debate that question for hours, and if your phone happens to be off, someone could be stealing your stuff as we contemplate.
With an unmonitored system, you’re on call around the clock via your smartphone. If you’re the kind of person who likes to unplug after work or while on vacation, you may want to lean toward a monitored security system.
If, however, you and your phone are inseparable — if you sleep with the phone beside you on the pillow — you’re likely set up well to monitor security alerts.
That said, I’d suggest using a different ringtone for home security alerts. You wouldn’t want to ignore a serious problem thinking it was just a reminder to pick up your sister’s cat from the vet tomorrow.
How Connected Is Your Home?
Most of us have WiFi at home now. Most does not mean all, though.
People without WiFi at home will have a hard time using all the features of a self-monitored home security system.
In that case, a landline-based, traditional system would be a better option.
If you have WiFi, the quality of your surveillance will depend a lot on the quality of your Internet connection.
As more devices and appliances get online — thermostats, washing machines, tablets, phones, TVs, refrigerators, lawn mowers — there’s more demand on your network. For many of us, a DSL connection just doesn’t cut it anymore.
If you have a gigabit-per-second coming across fiber into your home, your unmonitored security features should work just fine.
How Busy Are You?
A lot of us can add tasks to our regular schedules without a lot of stress. People in the gig economy or with a couple side hustles may have just the kind of schedule flexibility they need to assess threats from their smartphones.
Sure, you may have to re-arrange a few things or tell a client to hold on a second while you check the alert on your phone, but it’s still possible. People who teach school, run meetings, perform surgery, or preside over class-action lawsuits may not have time to check their phones every couple of hours.
Just like any other commitment you take on, consider the time demands of an unmonitored security system.
I’ve been in more than one meeting where someone had to check on a security alert. (Usually, something like leaves blowing onto the porch or a delivery from Amazon triggered the alert.)
Do You Own Your Home?
I referred to this earlier, but it bears repeating. Traditional home security firms more or less ignored renters for years since they didn’t have permission to install a system anyway.
With no wires to run behind walls, a tenant can usually install an unmonitored system without changing the property.
Mounting a camera in the corner is hardly different from hanging a picture, and it’s a whole lot simpler than installing a wall-mounted TV.
Plus, when you move on to a new home in a new city, you could take a lot of the system’s components with you to use at the new rental house. Of course, check your lease agreement to make sure you have permission to make the changes an unmonitored system would require.
And, by the way, if you’re a renter who would like a traditional monitored system, ask your landlord about it. He or she may be fine with the idea, especially since a system could reduce your landlord’s homeowners insurance rates.
Best Security System Providers For 2023
We’ve chewed on a lot of theoretical stuff, so let’s get into what really matters. How do systems compare to each other, and which one should you get?
A year or so ago I would have made two best security system lists: One for monitored security systems and one for self-monitored systems.
The features of these systems have blended so much I think one list will better serve shoppers. I’ll be sure to indicate whether you would need a contract to use each service.
While convenient features are important and worth weighing into the equation, the quality of the system itself still matters most.
So I’ll be giving the quality of your home security system first priority in these comparisons while giving conveniences and customer flexibility a little less importance.
Frontpoint
Contract required: Yes Professional monitoring: Yes Length of contract: At least one year
Remember earlier when I suggested the future of home security will likely blend the features of monitored and unmonitored systems?
I had Frontpoint in mind when I said that.
This company has led this confluence of features, offering professional monitoring plus the conveniences do-it-yourself systems introduced.
Yes, Frontpoint requires a contract and you’ll be paying for 24/7 professional monitoring. But you’ll also have a user-friendly app that can control your locks, lights, and thermostat.
With Frontpoint, you install the equipment yourself since it’s wireless, lightweight, and easy to position with included adhesive strips.
Essentially, Frontpoint offers the best features of monitored and unmonitored services in one package: professional monitoring, quality equipment, convenient features, and a do-it-yourself approach.
That’s why I’ve listed Frontpoint first.
I also like the 30-day, risk-free guarantee. If you’re unhappy with the service, Frontpoint won’t bill you and you can return all the hardware. You won’t be on the hook for the rest of the contract.
I also like the one-year contract. Most companies require a three-year commitment.
Frontpoint offers three price points. If you’d like to access recorded video surveillance from your property, you’ll need to go with the most expensive plan.
Best for: A homeowner who wants mobile control, full-time professional monitoring, and more contract flexibility than usual. Avoid if: You don’t want to enter at least a one-year contract.
ADT Pulse
Contract required: Yes Professional monitoring: Yes Length of contract: At least three years
ADT, a leader in home security for almost 150 years, has also started offering the conveniences of unmonitored security in its ADT Pulse system.
Like Frontpoint, ADT Pulse still bases its services on contracts, but it has bulked up its app to give customers more control over their security equipment. In fact, you can probably incorporate your own cameras and sensors into ADT’s system since it supports many third-party hardware brands.
Unlike Frontpoint, ADT Pulse includes professional installation (and a corresponding $99 set-up fee). The result is another best-of-both-worlds approach for the customer who is willing to enter into a contract.
In ADT’s case, the contract will last at least three years, and you’d be billed a hefty termination fee to get out of it.
ADT will let you out of the contract if you’re not happy with the service, but it’s not a no-questions-asked policy. ADT will try to resolve your issues, which is a good thing if home security is your priority.
Best for: A homeowner who wants a time-tested, trustworthy home security partner with professional installation plus modern mobile-based control. Avoid if: You’re not sure about entering a long-term contract.
ProtectAmerica
Contract required: Yes Professional monitoring: Yes Length of contract: At least three years
By now you’re sensing a trend: Traditional, contract-based home security companies that have adopted modern conveniences are dominating the top of this list.
And for good reason: Ultimately, a home security system should provide the best home security for you and your family, and professional monitoring tends to offer more security.
ProtectAmerica makes this list for those reasons and because of its flexible pricing options. The company has five price points.
I’d stay away from the company’s less expensive, landline-based options. They do not offer the control and integration you’d get from Frontpoint or ADT Pulse (unless you want a traditional, landline-based system).
ProtectAmerica’s broadband and cellular-based options deliver a lot. You can even integrate the system with your Amazon Alexa or Google Home smart device for voice control.
And when an alarm goes off, you can also get a voice prompt from the system telling you which sensor or camera triggered the alarm. When you’re half asleep, this simplicity can pay off! There’s also a panic button which will automatically call for help.
Best for: A homeowner or renter who wants the conveniences of tech-based security with fewer potential complications. Avoid if: You’re shy about a three-year contract.
Vivint Home Security
Contract required: No, unless you’re financing equipment Professional monitoring: Yes Length of contract: At least 42 months (but only when financing equipment)
If you’ve been looking for a no-contract home security solution that still delivers professional results, consider Vivint Home Security. Vivint offers monitoring for a monthly fee, but it doesn’t require its customers to commit to more than one month at a time.
However, if you cancel your account while you still owe money on your equipment, Vivint will bill you for the balance. So even though you wouldn’t have an official contract, you’d still be compelled to keep the service or pay a lump sum to end your connection to the company.
It’s not exactly a no-strings-attached situation, but customers do have more control month to month, especially if they pay up front for the equipment.
Vivint makes this list because of this potential flexibility and because of the flexibility of the company’s equipment.
You can essentially build your own home security and home automation package the way you want. Rather than choosing from a package, you can combine different kinds of surveillance equipment including outdoor monitoring, and different safety features such as smart lighting and thermostat control.
You can manage your system through a Google or Amazon smart speaker or you can use a more customized control panel.
Best for: A homeowner who wants to customize a security solution. Avoid if: You don’t want to pay up front for equipment. If you don’t pay up front, you’ll have a de facto contract.
Link Interactive
Contract required: No, unless you’re financing equipment Professional monitoring: Yes (by a third party monitoring center) Length of contract: N/A unless financing equipment
Link Interactive rounds out my top 5 because, once again, it blends traditional and unmonitored features to give customers the best of both worlds. Link Interactive stands out because it has embraced broadband and cellular networks more thorough than most other providers.
As a result, you can talk with a professional monitor through your control panel at home during an emergency. Sometimes just knowing what’s going on and finding out easily when help will arrive can alleviate stress.
But you should know that Link Interactive uses a third party, which doesn’t always equal a loss in quality, but it does mean the company has less control over the monitoring process.
Still, lots of Link Interactive customers have been satisfied with their service according to TrustPilot and Better Business Bureau reports, which tend to lean toward the negative for security systems.
Link Interactive lets you pay month to month instead of committing to one to three years. However, as with Vivint, if you owe money on your home security equipment, you’d have to pay the balance if you canceled service.
So unless you pay up front for the equipment or pay the balance down enough to make more affordable, you’d likely be sticking with the service for a while.
Essentially, it’s a contract by another name. Link Interactive does stand by its 30-day grace period. If you change your mind or don’t like the service, you can cancel without obligations.
Security matters most, and even though I’ve listed a couple concerns, Link Interactive has the experience (about 70 years’ worth) and the equipment to serve its customers well.
Best for: A homeowner who wants a reliable partner with the best modern conveniences. Avoid if: You don’t plan to stick with the company for at least until you’ve paid off the equipment.
Best Self-Monitored Home Security Services For 2023
I know — I listed my five top choices for home security, and not a single one offers a completely self-monitored system.
I alluded to the reason earlier but here it is again: Professionally monitored systems simply provide better security across the board, and we’re looking for the best home security systems.
In most cases, security tends to be better because you have a staff of monitors at the ready to respond to a crisis at your home.
Most, of course, doesn’t mean all. You may have just the right work-life balance to handle a self-monitored system. Or you might just prefer to self-monitor your home security, either to save money or because you like the control.
If so, you have a lot of choices.
Let’s take a look at a few of my favorites.
Ring Alarm
You’ve probably seen this one on TV. It looks simple, efficient, and affordable.
Overall, it lives up. For only $200 or so up front, you can get a pretty solid set-up and install it yourself. Pricier packages offer more components for larger homes.
You can opt for professional monitoring (for $10 a month or $100 a year) or for self-monitoring, which is free. Ring connects to Z-wave, which means you can incorporate a wide variety of home management and security equipment.
Amazon owns and sells Ring systems, so if you’re a frequent Amazon shopper you’ll know pretty much what to expect.
Best for: A low-cost but useful alternative with professional monitoring available.
Honeywell Smart Home Security
Honeywell, whose name you may have seen on thermostats somewhere along the line, has expanded its business into smart home connectivity, including home security.
You’ll pay more, over $1,000 most likely, to get your system going, but after that, you can do a lot, including arming and disarming the system with a key fob and even integrating facial recognition.
Honeywell’s system works seamlessly with Amazon Alexa, and the system should soon also offer Google Assistant and Apple HomeKit integration.
Honeywell also syncs with Z-wave, which means you can use all sorts of wireless equipment to manage and monitor your home.
Best for: A do-it-yourself alternative that still has top-notch gear and accessibility specializing in self-monitoring.
SimpliSafe
SimpliSafe has grown in name recognition and market share. The company offers a lot of options. About 16 to be precise. They all vary slightly in the number of components and price.
Set-up fees range from about $290 to about $550 depending on how much equipment your home needs. The equipment is easy to install and use. You can go without professional monitoring and keep using the security equipment.
It tends to be harder to incorporate third-party equipment, though. So if you get SimpliSafe don’t assume you can use existing gear from previous systems.
Best for: An all-in-one system for homeowners new to security systems.
Nest Secure
If you use Google products — Google Assistant and the Android operating system, for example — Nest Secure could offer a sensible extension for your home automation and security needs.
Naturally, the service integrates nicely with Google Assistant and your Android phone or tablet. You can spend up to $500 or so getting the equipment set-up.
You can add professional monitoring on a contract or month-to-month basis.
Best for: Customers who already use Nest home automation products. Nest is part of Alphabet, Google’s parent company.
Going Cheap? Create Your Own System And Go Full DIY!
Even though the home security market has changed a lot with the success of self-monitoring systems, customers still have two basic choices:
Enter a contract of some sort to get professional monitoring and pay less up front.
Buy a do-it-yourself system, spending $300 to $1,500 up front, and have the freedom to self-monitor and avoid the contract.
Some customers wonder why they can’t just buy some cameras and door sensors and connect the gear to their smartphone. That may be possible, and if that’s your thing, you could save compared to buying a pre-packaged deal.
But, for the majority of consumers, I do not recommend this approach for a few reasons:
It depends upon your ability to connect and maintain the equipment.
You couldn’t add professional monitoring if you wanted to.
It’s more difficult to self-monitor without an app to centralize the camera feeds and sensor data.
Regional Security Firms May Offer a Lot
I tried to limit this post to companies offering nationwide service. Some regional companies offer great equipment and great service, too.
If you’re considering a regional firm in your area, make sure to check on the following issues:
Who monitors the company’s security systems? Is it local or third party? If third party, try to find out response times for the monitoring service.
Are you as the customer responsible for maintaining the equipment or will the company keep it up to date? If you’re responsible, work that into what you’ll be paying.
Does the system’s control panel have a battery backup during loss of electricity? What about backup for the WiFi connection? If not, the system could leave you vulnerable.
If you have the ability to self-monitor, can you integrate components you already own via Z-wave or another similar service?
What do local law enforcement officials think about the firm? Cops know a lot about home security. They may know the value of a local or regional home security outfit.
Need Proof of Results? Ask Your Insurance Agent
Our homes are personal. Having a stranger violate, steal, or destroy our homes, our property feels like a personal attack even if we’re not home and deal only with the aftermath.
People who have experienced that feeling know it can change the way you look at the world for a while.
It makes sense for homeowners (and renters) to seek some kind of protection against this danger. No system can guarantee your safety and the safety of your family.
But home security systems do get results. For proof, just ask your homeowners insurance company.
Many insurers will give you a discount on your home insurance premiums if you have a professionally monitored home security system. Insurers give this discount because they know a quality home security service will likely reduce the likelihood of a personal property insurance claim.
As you compare systems, consider what kind of security you need and whether what you’re buying fits your home.
Security is personal. It’s up to you to make sure you’re getting a system to match your life.
Few things go better with the desert weather and aesthetic than the luxury spa treatment.
It doesn’t matter if you work over 40 hours a week or 40 minutes a month. Everyone needs time to unwind. From work stress to tough workouts and beyond, the pressures of daily life add up if they aren’t handled properly.
The apartments featured on this list all have one thing in common: They hold some of the best spas in Phoenix. Amenities that provide residents with options to unplug, resources to recharge and everything they need to make the most of every day. From resort-style pool and spa setups to yoga rooms and saunas, these Phoenix apartments have what you need to stay sane and healthy right at home.
Source: Rent. / Optima Kierland Apartments
Optima Kierland Apartments aims to be more than an apartment community. The goal of this complex is to feel more like a world-class spa destination than it does a tower of apartments. Residents here are able to enjoy the stunning natural landscape from the sprawling rooftop deck and sit out by one of the many water features on-site to let the stresses of the day slip away.
This Kierland apartment complex also boasts a stunning infinity edge pool and a separate shaded jacuzzi area complete with two tubs. It also has a stunning poolside sauna complete with mountain views. There’s a reason why Optima Kierland Apartments sets the standard for spa-style amenities in Phoenix. Swing by for a tour and see for yourself.
Source: Rent. / Vela on Camelback
Undeniably boasting one of the best spas in Phoenix, the wood-floored, light-filled yoga studio at Vela on Camelback is a serene place to stretch out the demons or sit and meditate on all life’s twists and turns. Equipped with everything you need to complete a particularly difficult yoga flow or just sit and let some time pass in peace and quiet, Vela on Camelback has what you’re looking for.
Vela on Camelback also boasts one of the best outdoor pool and spa areas in the desert. With their choices of towel service, ledge loungers and an outdoor games area, residents here always enjoy the freedom of choice when they decide to unwind. Good luck finding a better apartment complex in North Phoenix to unplug.
Source: Rent. / The Logan at Deer Valley
With a stunning pool and spa area as the central meeting spot for the community, The Logan at Deer Valley has a long list of spa-like amenities to offer its residents. Crystal-clear waters surrounded by lounge chairs sitting atop turf, this desert oasis is an undeniably cool spot to chill out, beat the heat and recharge for the next work week.
The calming pool area at this Foothills North apartment complex is also surrounded by large cabanas that house multiple chairs and loungers and provide ample shade for anyone that needs a break from the pool and the sun.
Source: Rent. / The Met
With a large oval-shaped pool and a sizable squared-off hot tub, the outdoor spa area at The Met is undoubtedly one of the most relaxing places in Downtown Phoenix to be. With picnic tables and loungers under umbrellas, full-grown palm trees and mood lighting embedded under the surface of the water, this uniquely relaxing outdoor area is the ideal desert hangout.
The Met also boasts a tropical-themed workout room with a stretching area. While working out may not be the best way to relax, everyone could use a good stretch at least once a week to work out the knots and reflect on the day.
Source: Rent. / 56 North Phase II
Boasting a long turf lawn peppered with loungers and conveniently located right next to the resort-style pool, the courtyard area at 56 North Phase II is a serene place to spend a lazy day. Whether you want to soak up the sun, soak away aches and pains or simply sit and think about life, there’s a place for you here.
Located in scenic North Phoenix, this peaceful paradise is perfect for busy nine-to-fivers, laid-back work from homers and everyone in between. Kick back and watch the day go by from the comfort of a covered cabana or get to know your neighbors poolside, the choice is yours at 56 North Phase II.
Source: Rent. / Quays at Encanto
It’s not every day that you encounter a mid-century modern apartment complex. Quays at Encanto is a boutique apartment community located near Phoenix College. With only 26 units, this small community was thoughtfully designed to help residents relax when they’re at home and live their best lives.
That starts with the apartment decor itself. The bathrooms in this beautiful complex are absolutely beautiful. Artisan fixtures, custom tilework and top-of-the-line appliances all combine to provide a potent spa vibe. This complex also boasts a rectangular courtyard pool — perfect for when the desert temperatures soar well into the triple digits. Plus, you’ll also see turf landscaping throughout for whenever you want to take a load off and soak up the sun.
Source: Rent. / The Logan at Osborn
Designed to look and feel like a five-star resort, the pool and spa area at The Logan at Osborn is simply stunning. A large rectangular pool surrounded by loungers backs right up to the crystal-clear jacuzzi creating an undeniably calming environment. With plenty of shade and more than enough room in the pool, this is one of the most relaxing places in the Phoenix College area to unwind.
The Logan at Osborn also boasts a number of well-manicured community courtyards. These lush green areas are ideal for anyone looking to get away from the hustle with a little alone time. Great for leisurely walks and breathwork, stress relief is always just steps away when you live at The Logan at Osborn
Source: Rent. / Acero at Algodon Center
Located in nearby Glendale, the Acero at Algodon Center apartments are spacious, modern and undeniably homey. Along with an elevated apartment standard comes an updated list of amenities, including an absolutely amazing outdoor pool and spa area. A large jacuzzi and rectangular pool sit in the center of the complex lined by palm trees and complete with loungers and a shaded outdoor clubhouse. It’s tough to stay stressed with a setup like this.
Acero at Algodon Center also boasts a beautiful community garden. If you’re the type that finds comfort in getting your hands dirty, the community garden is a great place to meet neighbors, reconnect with Mother Nature and recharge for another week in the real world.
Source: Rent. / Camden North End
It doesn’t get more zen than an ivy wall and a couple of statues of people in tree pose. Camden North End provides residents with two fitness centers, an indoor spin area and yoga studio and an outdoor stretching area. With so many other places to work out, the stretching and yoga areas are almost always quiet and perfect for a half hour of stretching, meditation or spacing out.
Camden North End also boasts not one, but two seasonally heated pools. These pools are surrounded by sundecks and peppered with loungers so there’s always a place for everyone at these Desert Ridge digs.
Source: Rent. / Circa Central Avenue
Circa Central Avenue may not have a traditional spa, but it does offer residents a long list of amenities that are designed to facilitate relaxation. Amenities like the outdoor poolside lounge. This enchanting outdoor oasis has tipi-style cabanas under string lights and a fire table to boot. Good luck finding a better place to relax and recharge.
The pool area at this Los Olivos apartment complex is nothing to scoff at, either. Falling water acts as the soundtrack thanks to the fountains lining the perimeter of the pool making it one seriously relaxing place to unplug.
Find your desert oasis in the best spas in Phoenix
Looking for an apartment that provides the resources you need to relax and unwind? You’re in luck. Phoenix is full of beautiful apartments with unique amenities that prioritize wellness, mindfulness and the best of a leisurely lifestyle. Find the spa-like place that fits your style and fill out an application today.
Featured image source: Rent. / Optima Kierland Apartments
New York, April 26, 2023 (GLOBE NEWSWIRE) — The Digitally Printed Wallpaper Market recorded a valuation of USD 3.2 billion in 2022 and is expected to reach USD 17 billion by the end of 2032, expanding at a CAGR of 18.4% over the decade. Digitally printed wallpaper is a type of wallcovering created using digital printing technology. Unlike traditional wallpaper, which utilizes the screen-printing process, digitally printed wallpaper is made using large format printers that print high-resolution images onto wallpaper material. This permits more intricate and detailed patterns, textures and imagery to be printed onto the material. Furthermore, this capability also enables the customization of designs according to individual preferences or needs.
To get additional highlights on major revenue-generating segments, Request a Digitally Printed Wallpaper Market sample report at https://market.us/report/digitally-printed-wallpapers-market/request-sample/
Key Takeaway:
In 2022, by substrate, the market is dominated by vinyl. Vinyl wall coverings are long-lasting, scratch-resistant, and simple to maintain.
By printing technology, the Inkjet segment is dominant with a market share of 62% in the overall market.
By end-user, the commercial segment is dominant because commercially printed wallpaper is frequently used to create distinctive designs that advance branding, improve ambiance, and distinguish places.
The North American region is dominant with a market share of 37%.
The CAGR of the Asia Pacific region is expected to have a high growth rate.
Factors affecting the growth of the Digitally Printed Wallpaper industry
Several factors affect the growth of the digitally printed wallpaper industry. Some of them are as follows;
Growing demand for customized wallpaper: As consumers increasingly desire personalized and customized wallpaper designs, digital printing technology provides the freedom to craft unique pieces according to individual tastes and preferences.
Advances in digital printing technology: High-quality digital printers have enabled greater precision, color accuracy, and detail when producing wallpaper designs; this has resulted in an uptick in demand for digitally printed wallpaper.
Growing consumer preference for aesthetically pleasing home decor products: With an increasing focus on home aesthetics, consumers are willing to invest in unique and captivating wallpaper designs that enhance the overall aesthetic appeal of their living spaces.
Rising disposable income: As disposable income continues to increase; consumers are willing to spend more on home decor items such as digitally printed wallpaper.
Growing demand for eco-friendly and sustainable wallpaper materials: As demand for environmentally friendly and sustainable wallpaper materials such as non-PVC wallpaper grows, the digitally printed wallpaper industry faces new opportunities.
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Market Growth
The market for wallpaper that has been digitally produced has been expanding consistently in recent years. The demand for personalized also customized wallpaper designs is on the rise, and advances in digital printing technology and growing consumer preference for aesthetically pleasing home décor goods are also contributing factors to the growth. Moreover, the market has grown as a result of the expansion of the real estate sector, as well as rising disposable income and shifting living preferences. The demand for digitally printed wallpaper is anticipated to rise further as eco-friendly as well sustainable wallpaper materials, such as non-PVC wallpaper and gain appeal.
Regional Analysis
North America leads the Digitally Printed Wallpaper Market, boasting a 37% share. Europe is the biggest demand and awareness driver for personalized home decor goods; their supply chains and customer base are well-established within this industry. Over the forecast period, the Asia Pacific region also experienced substantial revenue generation growth at an increased compound annual growth rate (CAGR) of 7.3%. With growing consumer awareness and demand for personalized decor items, analysts anticipate further expansion of this sector across other regions such as South America, the Middle East, and Africa.
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Scope of the Report
Report Attribute
Details
Market Value (2022)
USD 3.2 Billion
Market Size (2032)
USD 17 Billion
CAGR (from 2023 to 2032)
18.4%
North America Revenue Share
37.0%
Historic Period
2016 to 2022
Base Year
2022
Forecast Year
2023 to 2032
Market Drivers
Digital printing technology advancements: The growth of digital printing technology has made it easier and more affordable to produce high-quality custom wallpaper patterns. Now that smaller producers and designers have more entry points into the market, there is more rivalry, which encourages innovation.
Customization and personalization: As consumers look for distinctive and personalized products more and more, digitally printed wallpaper offers them a platform to express their uniqueness. Digital printing can be used to create unique wallpaper patterns to fit a range of tastes and preferences.
Growing consumer desire for environmentally friendly products: Thanks to advances in digital printing technology, wallpaper can now be made with environmentally friendly materials and processes.
Market Restraints
High initial investment: Setting up a digital printing factory to produce wallpaper and buying the required equipment are both expensive. This might make it more difficult for new rivals to enter the market and for smaller companies to expand.
Limited sustainable choices: Only a limited number of sustainable and eco-friendly materials are readily available, despite the growing demand for environmentally friendly wallpaper choices. Because of this, it might be more difficult for companies to meet customer demand, and the cost of environmentally friendly choices might increase.
Market Opportunities
Increasing Demand for Personalized and Customizable Home Decor Products: Digitally printed wallpaper presents a practical and adaptable choice for consumers who are increasingly looking for one-of-a-kind and customized decor items. One of the primary benefits of using this type of paper for creating unique designs and patterns is that demand for digitally printed wallpaper is anticipated to increase.
Technology advancements related to digital printing: As this field develops, it is anticipated that quality, speed, and economy will further improve. This can lower production costs and increase output, increasing customer access to and affordability of digitally printed wallpaper.
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Report Segmentation of the Digitally Printed Wallpaper Market
Substrate Insight
Vinyl is the most popular substance for wallpaper created digitally. The market proportion of this substrate is 37%. Vinyl wall coverings are easy to keep, durable, and scratch resistant. Because they are impermeable, they can be used in high-moisture spaces like bathrooms and kitchens. Nonwoven substrates are favored for digitally printed wallpaper because they are reliable, simple to use, and can hide wall flaws. Nonwoven walls are additionally breathable and can help stop the growth of mold and mildew.
Printing Technology Insight
With a market share of 62% in the overall industry, the inkjet segment dominates, because of its high-quality output, accessibility, and adaptability. Inkjet printing is widely used in the global market for digitally produced wallpaper. Ink droplets are sprayed using this technology onto the surface of the wallpaper material to create a high-resolution picture with vibrant colors and fine details. Electrophotography, also known as digital laser printing, is another method used to produce wallpaper that has been digitally produced. This technique uses a laser to create an electrostatic image on a drum, which toner particles then transmit to the wallpaper material.
End User Insight
With a market share of about 40%, the commercial sector dominates. Commercially printed wallpaper is frequently used to create distinctive designs that advance branding, improve ambiance, and distinguish places. Restaurants can use digitally printed wallpaper with food pictures to make the dining experience more inviting for their customers. Hotels could also use beautiful scenery as a backdrop to create inviting, peaceful environments for visitors. Residential digitally printed wallpaper is used to design distinctive areas that reflect the tastes and personalities of the homeowners. Homeowners can choose from a wide variety of patterns, colors, and designs, or even make their own to match their decor.
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Market Segmentation
Based on Substrate
Nonwoven
Vinyl
Paper
Others
Based on Printing Technology
Based on the Type of Wallpaper
Wildlife
Scenic Beauty
Lifestyle
Architectural
Portrait
Wedding
Fashion
Abstract
Others
Based on the End User
Residential
Commercial
By Geography
North America
The US
Canada
Mexico
Western Europe
Germany
France
The UK
Spain
Italy
Portugal
Ireland
Austria
Switzerland
Benelux
Nordic
Rest of Western Europe
Eastern Europe
Russia
Poland
The Czech Republic
Greece
Rest of Eastern Europe
APAC
China
Japan
South Korea
India
Australia & New Zealand
Indonesia
Malaysia
Philippines
Singapore
Thailand
Vietnam
Rest of APAC
Latin America
Brazil
Colombia
Chile
Argentina
Costa Rica
Rest of Latin America
Middle East & Africa
Algeria
Egypt
Israel
Kuwait
Nigeria
Saudi Arabia
South Africa
Turkey
United Arab Emirates
Rest of MEA
Competitive Landscape
The global digitally printed wallpaper market is highly fragmented and features a number of players operating within it. These key players strive to find innovative ways to serve customers better and retain them for longer periods of time, using production methods and materials with the minimum investment required.
Some of the major players include:
A S Creation Tapeten AG
Grandeco Wallfashion Group Belgium NV
Graham and Brown Ltd
MX Display Ltd
Flavor Paper
Moonavoor Sisustus
JOHNMARK LTD
Glamora Srl
Inkiostro Bianco PI
Tecnografica
Syndikat4
DAISY JAMES
ELITIS
MINDTHEGAP
YO2 Designs
Arte International
Astek
Momentum Textiles & Wallcovering
Londonart
Other Key Players
Recent Development of the Digitally Printed Wallpaper Market
In 2021: Muraspec Group introduced a new line of wallpaper 2021 that featured environmentally friendly choices made from recycled materials.
In 2020: Flavor Paper and artist Wayne White teamed up to release a new brand of digitally printed wallpaper with his work on it.
Browse More Related Reports:
3D printed wearables market accounted for USD 3,570.84 million in 2021. It is projected to grow at a 9.1% CAGR
3D Printers Market is expected to be worth around USD 17,940 million by 2031 from USD 13,220 million in 2021, growing at a CAGR of 21%
3D printing materials market size is expected to be worth around USD 17,775.07 million by 2032 from USD 1,624.16 million in 2021
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Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.
In my recent review of Pam Slim’s Escape from Cubicle Nation, Chett left the following comment:
I was talking with a good friend last week who is self-employed. I told him I envied his entrepreneurial spirit and the ability to “go it alone.” He told me he envied my work as a teacher and the set hours and guaranteed pay check and insurance. (I told him there was nothing “set” about the hours, so I guess we both misunderstood each others work.)
So many people dream of working for themselves and only find out the true benefits and heartaches after they make the leap. Take you for instance, what do you miss the most from the box factory in terms of security, or interaction? What bothered, (or motivated) you the most to drive you to self-employment and what have you learned about your decision over the past year and a half?
In the same thread, Caitlin wrote:
Every time I real an article like this I wonder if I’m really that unusual because I love my job. I’m a molecular biologist, and it’s just not something I could do on my own…I’ve had a small side business for over 5 years. In that time, interesting and educational though it was, I’ve learned that I don’t particularly want to run a business.
I am not one who believes that everyone should be an entrepreneur. I think there’s a sort of continuum: Some folks should absolutely work for somebody else, others should definitely work for themselves, and many should do a little of both.
Although I tend toward entrepreneurial endeavors, I don’t consider myself a die-hard entrepreneur. The best job I ever had was actually flipping burgers at McDonald’s when I was in high school. I’m not kidding. I loved that job. My fellow employees were smart and fun. Together, we made serving burgers and fries a game; we tried to do the best job we could. Our manager was great, and she fostered this attitude instead of stifling it with bureaucracy.
Since then, I’ve had jobs I loved and jobs I hated, and many that just paid the bills. I’ve also tried self-employment twice: once as a computer consultant, and now as a professional blogger.
Here are my responses to Chett’s specific questions:
What Do I Miss From the Box Factory?
I miss daily interaction with my family. My father began the business almost 25 years ago, and since then there have always been several family members involved with the daily operations. I also miss talking with my customers. As much as I disliked the actual sales portion of my job, I genuinely liked many of the customers I dealt with. I find myself wondering how Robert is doing, and whether Lance finished building his house.
There is almost no social aspect to the life of a professional blogger; I sit here alone in my office typing all day. While this is intellectually challenging, I miss seeing people and being a small part of their lives. This is one reason I’ve struggled with my restaurant spending over the past year. I often go out to lunch simply to be near other people. It’s also one reason I rented office space.
Note: Trent and I both discussed this loneliness on last Monday’s episode of The Personal Finance Hour. How bad does this loneliness get? Very bad. It’s Thursday afternoon as I write this. A couple of hours ago, I had a near panic attack from the loneliness. No joke. To cope, I came down to the coffee shop for a couple of hours.
What Motivated Me to Self-Employment?
There were a couple of things. First, I did not like my work at the box factory. I did not like sales. I wasn’t good at it, it didn’t interest me, and I found it frustrating.
Meanwhile, I wanted to write. I’ve always wanted to be a writer; I just never knew how to make money from this desire. When I stumbled into personal-finance blogging, I was startled to learn I could make an income from it. It seemed natural to make the leap to professional blogger once that income sustained at a level that could support me.
What Have I Learned About My Decision Over the Last Year-and-a-Half?
There’s a difference between blogging as a hobby and blogging as a job. When you’re blogging as a hobby and the income is “extra” income, the process is fun. It’s a lark. But when you throw the switch and it becomes your sole means of making a living, some of that fun vanishes.
I still love what I do — no question — but sometimes I feel as if I’ve lost the spontaneity I used to have. That’s one reason I’m hoping to reduce my workload around here a little. I’d like to pursue other projects: write a book, dabble with other blogs, possibly promote financial literacy education.
There’s a lot of pressure when you are required to generate your own income. Sure, there’s pressure when you work for somebody else, too, but there’s also a sense of freedom. You’re not responsible for the daily decisions. And if you don’t like the job, you can leave. Plus, the actual source of income is not your responsibility.
I often think that working for somebody else is like renting an apartment; working for yourself is like owning your home. Both have their rewards, but they each have drawbacks, too.
Conclusion
As Caitlin mentions, not everyone is cut out to run a business. It just doesn’t interest them. My wife is a perfect example. Kris loves her job. It’s challenging and fulfilling, and she enjoys the interaction with her co-workers. She has no desire to strike out on her own.
As always, I think it’s important to do what works for you.
Now I’d love to hear from you. Have you ever been self-employed? Did you love it, or did you hate it? What prompted you to pursue entrepreneurship? What do you envy about those who work for somebody else? Or, if you work for somebody else, are you content with where you are, or do you envy about the self-employed? What is it that keeps you doing what you’re doing?
A Chase spokesperson confirmed today with Doctorofcredit that they will honor Whole Foods as part of the Amazon category to earn 5x points during the second quarter of 2023.
We pointed out in our original post that Whole Foods was included in the fine print of the Amazon category to earn 5x during Q2 2023, yet the Chase system was not automatically awarding those points. This has now been fixed, and everyone should automatically get the proper 5x rewards for purchases since April 1st and continuing through June 30th.
We appreciate you and our cardmembers for flagging this issue, and can report that we’ve taken the necessary steps to research, identify, and rectify the error. Cardmembers will be retroactively rewarded and will have no issues with Whole Foods, as part of the Amazon rewards category, moving forward. And, cardmembers who activate by 6/14 will be rewarded on any applicable spend from 4/1 through 6/30.
Television does the art of negotiations a serious injustice. According to Hollywood, you’d better put on your ray bans and poker face. Otherwise, the seller will bully you into accepting an offer way outside your budget. Or one party will stealthily pass a sheet of paper with a number across the table to another party, who then flips out.
In real life, that’s not how it works. Now, this is not to say you should walk in unprepared, but you also aren’t playing high stakes poker here. There is no winner takes all. A win in real-estate negotiations is when both parties walk away happy. Think HGTV happy tears when someone gets their dream home. So, how do those white-knuckled negotiations work when the cameras aren’t rolling? Let’s check it out.
Let’s Meet in the Middle
The key here is to make the other party think they are in control of the deal. Don’t be the sleazy car salesman before the devil horns come out. Your words and your body language must be genuine. Nothing makes a person turn into The Hulk like feeling tricked into a deal. You want everyone to feel like they are on the same team. Affirming language is the tool of choice.
If you think they are going to go catatonic on you, give them an out. Take a tip from Josh Flagg founder of Flaggship.com. Use phrases like “You’ll probably refuse, but …” to allow the other party the freedom to say no. You may be thinking, “I don’t want to give them a free pass to back out!” Don’t worry, that’s not what you’re doing. You are increasing your chances of winning the other side over.
Who Has the Upper Hand?
Before you are negotiating you need to know what type of market you are in. Otherwise, you’ll be pulling your hair out and get an eye twitch when another deal falls through. Don’t be that guy. It’s not worth it.
Sellers’ Market
Don’t offer lower than list prices for homes. In a seller’s market, they are being bombarded with offers. Don’t get laughed out of the running.
No special requests. If you don’t like the paint this is a chance to brush up on your DIY skills. The seller has other competing offers. You don’t want yours kicked out of the pool.
Work with the seller. Moving is a time-consuming and stressful process. Be flexible with the seller on their move out date. It will make your offer look better.
Be extra! In a good way. Make sure you are pre-approved for the loan.
Buyer’s Market
Negotiate closing costs. Those closing costs add up fast! In a buyer’s market, you can request that the seller pay closing costs during negotiations.
Look for those upgrades. Sellers won’t expect a high ROI on upgrades. Even if they are in stellar condition, they don’t expect 110 percent back on them. Eighty percent is looking good. Sellers know that in a buyer’s market.
Make sure the seller is flexible on the price after the inspection report comes in. It may reveal some unexpected news.
The Value Offered
Give your offer some thought on value. What can you bring that another buyer can’t? It must be inexpensive to give and valuable to receive.
Here’s a hypothetical example: mints at the end of dinner. They are cheap for the restaurant to give but they’re valuable to receive because they cleanse the palate and taste downright delicious. If you’re on a first date, you don’t want to disgust your date with bad breath. Unless you really don’t want a second date. Real estate negotiations are kind of like that. “For the same price, will you throw in new paint in the living room?” “Can you add a flower garden for that asking price?” These are valuable to receive and inexpensive to give. It gives the other party the warm fuzzies.
Did You Do Your Homework?
Still sweating bullets over negotiating your dream home? Well, don’t! Your Realtors are here to help through each part of the transaction. Our expert team will review the contract and answer all of your questions. You can approach the negotiation table with confidence. Homie Realtors help you formulate the perfect response to each counteroffer. They do all the talking including communication with the seller’s agent. After it’s all wrapped up everything is sent to you via DocuSign. It’s that easy, Homie has you covered.
Don’t Accept the First Offer as Is
You may think you are doing yourself a favor, but you aren’t. Don’t come off as desperate! You brought your A-game. The price doesn’t have to change, but you do need to play hard to get. It’s a little like dating in that respect. The seller is expecting you to come back with a counteroffer. If you don’t, they will question their offer.
So, what does that look like? Think about add-ins and bonuses. “For that price will you throw in the washer dryer? Kitchen appliances? Patio furniture?” You get the idea.
It’s About More Than Asking Price
Is the asking price on the higher end? If it’s over your budget don’t throw in the towel just yet. You don’t have to feel like Charlie Brown after a rough baseball game. There are other ways to even out those costs that don’t have to do with the asking price. Take a look at all the fees that come with buying a home. Closing costs and lender fees add up fast. If they keep the asking price the same, can those be covered?
Peace of Mind
You probably aren’t going to buy a home that’s nothing more than a shell. It will come with things like a hot water heater, HVAC, and kitchen appliances. Unless you are a fan of cold showers, fixing the hot water heater won’t be on your list of fun things to do. Ask about adding a warranty plan on major appliances to the package.
It Doesn’t Have to Be Your Dream Home Today
The home you buy doesn’t have to be your dream home right now. It may feel like it should because you’re signing your life away on a mortgage, but it doesn’t have to. When you’re preparing to negotiate on a home, look at it closely. Consider its bones. Can you make it into your dream home five or ten years down the line? Can you make changes without destroying the integrity of the home? Or your bank account? It doesn’t need to be perfect now for it to be a good buy.
Keep Your Cards Close to the Chest
Buying your home is so much fun. The real estate agent is super nice too right? Of course they are — it’s their job! But, here’s the thing. Unless the agent is specifically your agent, then they work for the seller. As the seller’s agent, they must tell the seller anything you share with them. If you are a first-time buyer, you will want to have a buyer’s agent working with you. They work in your best interests.
The easiest way to do your homework is to give Homie a call. We have an easy online search process with several beautiful homes for sale. We take the hassle out of buying your home.
It’s Closing Time!
You’ve done the work and the negotiating. Now it’s time to close! You feel like Steve Prefontaine going over the finish line. Wait, you’re not there yet. Even when you get this far, some closings don’t happen. Why? Because you don’t qualify for the loan.
All that time and effort! You can feel your dreams for the future slipping through your fingers. There are few things more frustrating. It’s avoidable though.
Ok, let’s rewind a bit here. What needs to be done on the front end to avoid this disappointment?
Know your credit. Typically, if your credit score is 680 or lower your loan may be rejected. Run a credit check on yourself before you even start dreaming about that home. If there are some black marks take care of those before you apply for a loan.
Save up! If you want to increase your chances of approval put 20 percent down. If you put 20 percent down, you don’t have to buy Private Mortgage Insurance. This will lower your monthly bill.
Even if your boss is Miranda Priestly don’t job hop yet! Employment status plays a huge role in getting approved for a mortgage. Stick around at work throughout the buying process. You can make an epic exit when it’s all done.
This is a good time to hide those credit cards. Put them in a cup of water and freeze them if that’s what it takes. Don’t take on new debt when you are trying to get approved for a mortgage.
Know your budget. You may be approved for more than you can afford.
Get pre-approved! You don’t want to find out you can’t afford your dream home at closing. Before you begin your search, get pre-approved for a mortgage. That’s where Homie comes in. We make sure you are pre-approved before you start looking at homes. When it’s time to close on your dream home the funds are there. No hang-ups during closing time.
Stay Confident
Negotiations are nothing to be intimidated by. But you need to walk in prepared with more than your expertly tailored suit and ray bans. So, lets recap:
Use affirming language. This isn’t poker. The end goal is for everyone to win. You want the other party to feel at ease. Work with them.
Know the market. Negotiations are different depending on who has the upper hand. Know the market so you can stay in the game.
Have Homie at the negotiation table with you. Our attorneys work with both parties to make sure you get the best deal.
Don’t accept the first offer. But recognize that it’s not all about asking price. There are many other pieces that can be negotiated that don’t touch the asking price. This is where doing your homework comes in.
Use Homie’s experts to help you find your home. It’s easy and professional. Take some stress off yourself.
Make sure you pre-qualify for your mortgage before you close. You don’t want to go through all that to be disappointed. Homie makes sure you pre-qualify before you start your search. We make it easy for you to buy your dream home.
Before you embark on buying your biggest asset, let our experts help. We make the process easy and affordable, so you don’t have to stress. The best place to start is touring your first home with Homie.
Whether to pay off a car loan early depends on your budget, your loan’s interest rate and your other financial goals.
Generally, you should pay off your car loan early if you don’t have other high-interest debt or pressing expenses to worry about. But if that money could be better spent elsewhere, paying off your car loan early may not be the best choice.
When does paying off a car loan early make sense?
There are a few scenarios where it might make sense to focus your efforts on eliminating your auto loan debt. Consider whether these apply to you:
You don’t have higher-interest debt and want to free up the cash for other financial goals.
The auto loan has a higher interest rate than what you could earn by investing.
You’re hoping to buy a home soon and want to lower your debt-to-income ratio.
You recently received a windfall and have enough cash in reserves for emergencies.
You want to build your savings account faster to have funds available for business ideas or other investments that foster financial freedom.
You want to avoid having negative equity or being upside-down on your auto loan.
You’re debt-averse, and it’s an important step for you in obtaining financial security.
Benefits of paying off a car loan early
If you can manage it, paying off a car loan in full ahead of schedule can have some big benefits.
Save money on interest
Interest is typically spread out over the loan term. You’ll pay less interest by paying off your loan early since the lender will have less time to collect interest from you.
But even an extra payment here and there can make a difference. That extra amount should go directly toward the principal, especially if you specify that intention when you make your payment.
Use an auto loan early payoff calculator to find out how much you can save with additional monthly payments or one big lump payment toward your loan.
Key takeaway: The more money you add to your payments and the higher your loan amount, the more you can save.
Take ownership sooner
Until you pay off your car loan, your lender technically owns your vehicle. Taking ownership of the vehicle means you’ll get the title in your name. It also means you will have more options if you plan to sell the car or trade it in.
If your lender required minimum insurance coverage, you could potentially reduce insurance costs by going for basic coverage. Owning the vehicle outright will put you in control of whether to continue insurance coverage or adjust levels. But it’s a good idea to keep the protection if you can’t afford to replace your vehicle in case of an accident.
Key takeaway: Owning your vehicle means it’s easier to sell and can potentially lower insurance costs.
Less risk of being upside-down
Sometimes cars depreciate faster than the payoff schedule of an auto loan. This is especially true if you have a long repayment term or a high interest rate.
Being upside-down on a loan, or owing more on the car than it’s worth, is a tricky situation. You may run into problems if you try to sell or trade in the vehicle or if the vehicle is totaled. In all instances, you may need to pay your lender the discrepancy in a lump sum — although most lenders will allow you to roll the amount into your new loan if you trade in the vehicle.
Key takeaway: Understand how your vehicle will depreciate and avoid owing more money on your loan than the value of the car.
Improve your debt-to-income ratio
Your debt-to-income ratio is the percentage of your gross monthly income that goes toward debt payments. It helps lenders determine how much you can afford to borrow. The higher your DTI, the riskier you look as a borrower.
Paying off your car early eliminates your auto loan from the equation. Your DTI will naturally be lower, which opens you up for other forms of credit. It also helps improve your chances of refinancing other loans or consolidating credit card debt at a lower rate.
Key takeaway: A lower DTI ratio can help you qualify for better credit down the road.
Free up money for other expenses
The average monthly payment on a new car was $716 in the fourth quarter of 2022, according to a report by Experian.
Paying off your car loan is a big opportunity to make progress on other financial goals. If you keep the car you have and don’t take out another loan, you can put that money toward vacation savings, retirement funds or other debt.
And even if you bought used, dropping that $515 average payment could still make a significant difference in your budget.
Key takeaway: Build extra room into your budget with several hundred dollars each month.
Disadvantages of paying off a car loan early
Prepayment penalties and closing accounts may impact your finances. While there are pros to accelerating your auto loan payments, there are also some potential downsides to keep in mind.
Prepayment penalties
Some lenders charge a penalty for paying off a car loan early or making extra payments. Check your loan contract to see if your lender has one.
If your lender does charge a prepayment penalty, compare the cost to the potential savings you might get from accelerating your payoff schedule. If it’s too expensive, just continue paying down your loan on time — and put your extra money toward something else.
Lower credit score
If you stop making payments on a loan because you’ve paid it off, your streak of positive payment history will end. Additionally, your credit mix could be affected since credit bureaus like to see both installment loans, like auto loans, and credit lines, like credit cards.
Don’t let the fear of your credit score lowering hold you back from paying off your auto loan early, though. This potential dip is usually small and temporary, and if you continue to manage your credit accounts responsibly, it shouldn’t be an issue.
Money better spent elsewhere
If you have higher-interest debt, you may be better off focusing your efforts on those loans or credit cards first. That’s especially the case with credit cards, certain personal loans and short-term debt.
Even if you don’t have high-interest debt, your money may be more effective if put toward retirement, a Health Savings Account or some other tax-advantaged financial account. The same may go for general investing if your auto loan interest rate is low.
May not fit in your overall budget
If your budget is tight, it may be impossible to find any extra cash you can put toward your auto loan payment every month. Even if you can cut back in other areas, other areas of your financial life (such as high-interest debt, retirement and emergency fund) may be more important.
Before deciding to pay off your loan ahead of time, take the time to look at your budget and make sure it won’t place you in an even more precarious situation.
How to pay off a car loan early
Depending on how much money you have on hand, there are three ways you can work toward paying off your car loan ahead of schedule.
Pay it off in full
If you received a big bonus at work or a tax refund, or you have money saved up, you may want to make one lump-sum payment to pay off your car loan in full.
To do so, learn the 10-day payoff amount, which includes interest that’s accrued since your last monthly payment. Then send a check to the lender or make the payment online to bring the balance to $0.
Pay it off in a partial lump sum
If you don’t quite have enough to pay off the balance in full, you may make a large payment to pay down a big chunk of it. This won’t reduce your monthly payment, but it can significantly cut down on how long you’ll be in debt. And since it will go toward the principal, you’ll wind up paying less interest overall.
Increase your monthly payment
If you don’t have a large amount of cash you can put toward your auto loan, consider making larger payments each month instead. You can decide how much extra you want to pay. Even a small amount can save you money and time.
The bottom line
Paying off a car loan early can save you money — provided the lender doesn’t assess too large a prepayment penalty and you don’t have other high-interest debt. Even a few extra payments can go a long way to reducing your costs.
Before rushing to repay your auto loan, run the numbers to determine if it makes financial sense or if you should apply extra funds elsewhere. Also, keep your financial situation and goals in mind as you weigh the benefits and drawbacks to determine the best strategy for you.
Save more, spend smarter, and make your money go further
Is your debt stressing you out? If so, we promise you’re not alone. Especially if you are financing a home. According to the Center for Microeconomic Data, mortgage balances—the largest component of household debt—rose by $60 billion during the second quarter of 2018.
If you’re committed to getting out of debt, we’ve got you covered on how to set up a debt repayment plan to make sure you stay on track and reach debt freedom as soon as you can.
Here are five simple steps on how to jump-start your debt repayment journey:
#1 Assess The Amount of Debt You Owe
Of course, that’s what Mint is here to help you do — easily and automatically track where every last penny goes. Tracking your expenses will help you see where you can cut down, thus helping you reduce outstanding debt, as well as your debt/income ratio (outstanding debt divided by annual net income). Having a clear view of the numbers will empower you to make a plan that actually works based on where you are now.
#2 Sleuthing For Savings
Don’t think you have any extra money to create a debt destroyer? Once you start tracking your expenses, you might be surprised. For example, can you can cut your cable bill (average of $75 a month) and switching to a streaming service (about $10.99 a month)? Or is there a subscription you’re paying for that you don’t actually use? The smallest things here and there can really add up, so make sure you understand what you don’t actually need to be paying for in order to find some extra cash to put toward your debt goals.
#3 Pick A Debt To Tackle First
Some people choose the smallest debt first because getting a few wins on the board helps motivate them to keep working toward bigger goals. Others choose to go after debt with the highest interest rate first because it’s costing the most money right now. Once you choose which debt to work on first, pay the minimums on all other outstanding debts, and put every leftover dime toward the debt you’re targeting.
#4 Start Snowballing
After you pay off the first debt, move on immediately to the next one on your list, instead of taking a break and using that extra money elsewhere. As your number of debts decrease, the amount of money you have to attack the ones that remain increases. This means you can snowball your payments until all of your debt is pummeled
#5 Enjoy Life After Debt
Once you’ve started paying down debt, now you’re ready to establish a commitment to saving. First, determine what you are you saving for! The first goal you should set is an emergency fund. This will help protect you in case of sudden unemployment, a medical emergency or other unexpected expenses. If you want to be consistent with your savings contributions, try automated savings. Start small and then increase the deposit amount when you feel confident that you can set aside more.
The earlier you get started with a strategic debt repayment plan, the better. Remember, take things step by step and first get organized to figure out what you owe. We know debt can feel overwhelming at times, but it’s important to remember it doesn’t have to last forever if you’re committed to creating a better financial future!
Save more, spend smarter, and make your money go further
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