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Ditch Your Car And Walk More

January 27, 2023 by Brett Tams

As I recently said in Welcome To Paradise – We’re Living On A Sailboat!, we no longer have our Jeep. Since we are preparing to cruise and will be leaving the marina soon, we no longer have a need for full-time use of a land vehicle. Now, technically we still own our Jeep, but it’s […]

The post Ditch Your Car And Walk More appeared first on Making Sense Of Cents.

Posted in: Debt, Home Tagged: active, All, ARMs, before, Benefits, big, biking, bills, Budget, Buy, car, Car Insurance, cents, cleaning, country, creativity, data, Debt, desk, driving, exercise, expenses, expensive, Family, Financial Wize, FinancialWize, Florida, front, General, great, health, healthy, helpful, home, house, household, Insurance, job, jobs, Life, Live, Living on a sailboat, love it, LOWER, maintenance, Make, making, Medical, medical bills, money, More, more money, new, Other, pressure, productivity, ready, risk, save, Save Money, shopping, Spending, Spending Less, splurging, target, time, title, Transportation, trust, vehicles, walk to work, walking, will, work, working

Do You Have Life Insurance?

January 27, 2023 by Brett Tams

According to the insurance research firm LIMRA, life insurance ownership is at its lowest point in over 50 years. This is a crazy statistic considering that approximately 44% of those who took part in the survey said they don’t have enough money to pay for expenses if their loved one were to pass away suddenly. […]

The post Do You Have Life Insurance? appeared first on Making Sense Of Cents.

Posted in: Debt, Retirement, Starting A Family Tagged: 2, All, ask, author, before, Blog, Budget, cents, Children, co-signer, commission, company, cost, data, Debt, disclosure, employer, entry, expenses, Family, Financial Wize, FinancialWize, gender, get started, great, health, Insurance, job, Life, life insurance, Lifestyle, loan, Loans, Make, making, market, Medical, money, More, needs, Other, ownership, parents, payments, plan, policies, premium, Purchase, questions, Research, retirement, Review, right, routine, second, single, spouse, story, student, student loan, student loan debt, Student Loans, survey, time, title, unique, value, will, work, young

Understanding Medicare Supplement Plans – AKA Medigap Plans

January 27, 2023 by Brett Tams

Medicare is an excellent government program that helps seniors pay for necessary medical expenses that they would not be able to afford otherwise, but there are a lot of things that the program doesn’t pay for. Millions of Americans rely on Medicare to get the healthcare that they need, but there are dozens of different […]

The post Understanding Medicare Supplement Plans – AKA Medigap Plans appeared first on Good Financial Cents®.

Posted in: Retirement, Starting A Family Tagged: affordable, All, basic, basics, before, Benefits, bills, Budget, Buy, Buying, coinsurance, company, Consumers, cost, couple, decision, Deductible, deductibles, Discounts, employer, existing, expenses, expensive, experts, Family, finances, Financial Wize, FinancialWize, General, good, government, great, health, Health care, healthcare, helpful, history, home, home care, Inflation, Insurance, insurance coverage, insurance plans, Law, Legal, Life, Main, Make, making, married, Medical, medical expenses, Medicare, Medicare Advantage, Medicare Part A, Medicare part B, Medigap, model, money, More, Most Expensive, Move, needs, new, offer, offers, Original, Other, plan, policies, premium, protect, protection, Purchase, questions, Quotes, Raise, rate, Rates, ready, retirement, Review, right, savings, Savings Account, second, Sell, selling, Seniors, shopping, Simplifying, states, surgery, time, Transaction, trend, under, will, work

Food waste and food consumption in the United States

January 27, 2023 by Brett Tams

I’ve been thinking a lot lately about how much food I consume (and waste). I’m not happy with how I shop and eat, and it’s not just because I’m fat right now. I don’t like what I’m eating and I don’t like how much food I’m throwing out.

Food waste is a huge problem in the United States. Most studies find that Americans waste about one-third of all food that enters the supply chain. This is insane. And when you consider that food spending is the third-largest component of the average American budget, this is a great place for most folks to boost their budget.

According to the 2017 Consumer Expenditure Report, the average household spends $7,729 per year ($644.08 per month) on food. If, as the USDA reports, 31% of the average family’s food goes to waste, that’s the equivalent of burning $2395.99 per year ($199.67 per month).

For most families, $200 per month is a big deal. That can be the difference between deficit spending and earning a “profit”. That $200 per month could be enough to purchase a new car or to afford better health insurance.

Today, I want to think out loud about food consumption and food waste in my own life.

Our actual fridge at this very moment

This article is unusual in that I’m not going to try to offer any solutions. Instead, I’m simply going to share some observations, and I’m going to divide these observations into bite-sized chunks.

If you have solutions to food waste, however, I’d love to hear them.

Posted in: VA Loans Tagged: 1970s, 2, All, apartment, beans and rice, big, blueprint, Books, Budget, Built, Buy, Buying, car, Choices, Cities, coffee, condo, consumption, country, couple, Crisis, data, dessert, earning, Europe, Family, Fashion, Financial Wize, FinancialWize, food, food consumption, food waste, fun, funny, garage, garden, glasses, great, groceries, habits, health, Health Insurance, healthy, HelloFresh, home, house, household, Insurance, inventory, items, job, kids, kitchen, Learn, learned, Life, Lifestyle, Live, low, Make, making, market, mental health, miles, mold, money, More, needs, new, offer, opportunity, Oregon, Other, packing, Pantry, Personal, prep, Purchase, ready, rental, restaurant, right, RV, save, Save Money, School, simple, single, space, specialty, Spending, staples, states, stock, storage, surgery, time, title, tools, Travel, under, unique, united, USDA, wants, weather, will, woman, work, young

Explaining the Loan Process Part 4: Underwriting Mortgage

January 27, 2023 by Brett Tams

There are many steps associated with securing a home loan. After the preparation, paperwork, pre-approval and appraisal, you’ll find that you’re still not quite ready to pick up the keys to your new property. Final verification from your lender is required to ensure you’re equipped to repay your mortgage in full and on time. This is where the mortgage underwriting process comes into play. During the underwriting stage, your application moves from the loan processor to the mortgage underwriter. The underwriter will ensure your financial profile matches your lender’s qualification guidelines and loan criteria. Then, the underwriter will make the final decision to approve or deny your loan application. The mortgage underwriter plays a crucial role in finalizing your loan, so it’s important to set yourself up for success during this stage. In fact, there are several steps you can take to improve your overall financial health and increase your chances of being approved. What Is the Role of a Mortgage Underwriter? A mortgage underwriter is responsible for analyzing your risk to determine if your loan terms are acceptable. The underwriter will investigate to make sure your application and documentation are truthful, and they will double-check you have described your finances accurately. Mortgage underwriting standards have become more stringent, thanks in large part to new Consumer Financial Protection Bureau requirements enacted in the last few years. This requires mortgage underwriters to look closely at the applicant’s employment and financial history before approving a loan. Depending on your lender, the mortgage underwriter may be part of an in-house underwriting team or a separate processing/underwriting company your lender uses to outsource the underwriting process. The underwriting process may vary slightly among lenders, who can delegate responsibilities to originators, processors and underwriters accordingly. Make sure to check with your loan originator for guidance on what information to send to whom. How Long Does Underwriting a Mortgage Take? Underwriting mortgages is an essential part of the overall home loan process and generally takes about 30–60 days, depending on the type of loan, lender and current volume of borrowers. The underwriting process itself demands only a small fraction of that time, typically only a few days. That said, because authentication and verification of the loan are the primary reason for underwriting, mortgage companies are very thorough in reviewing every aspect of the loan before they are willing to finalize it. This means that if the underwriter encounters an issue, it may delay your closing. Determining Your Risk In order to assess a borrower’s risk, mortgage underwriters primarily look at the “Three C’s” of underwriting: Capacity: Do you have the means and resources to pay off your debts? Underwriters assess your available resources by reviewing your employment history, income, debts and asset statements. (Note: If you are self-employed, you may be asked to provide additional documentation such as income and work status.)They will also review your savings, checking, 401(k) and IRA accounts to ensure you can still pay your mortgage if expenses arise unexpectedly. Underwriters will pay particular attention to your debt-to-income ratio; they want to ensure you have enough money to fulfill your current financial obligations, as well as take on a new mortgage. Credit: Do you have solid repayment and credit history? Your credit is one of the most important factors in the loan approval process. The underwriter will review your credit score and determine your ability to make the proposed mortgage payments on time and in full. Collateral: What is the value and type of property being financed? The mortgage underwriter must make sure the loan amount meets the loan-to-value requirements of the product. Otherwise, in the case of a default, a lender may not be able to recover the unpaid balance of the loan. In order to place a value on the property, an underwriter will typically order a home appraisal, which will assess the home’s current worth.In addition, the underwriter will likely review the type of property you are looking to buy. This is important for several reasons.First, different types of properties carry different risks. For example, many lenders consider an investment property a riskier investment. This is because, historically, a borrower who is in a difficult financial situation is more likely to walk away from an investment property than their primary residence.Second, lenders need to be sure that the property they are helping you purchase doesn’t already have any legal claims on it. The lender will likely work with a title company during underwriting; mortgages, liens, claims, easement rights, unpaid taxes, restrictive covenants and pending legal action already attached to the home can derail a possible loan. Performing a title search ensures that the property can be transferred to you once the mortgage is finalized. How You Can Streamline the Underwriting Process Underwriting a mortgage can’t, and shouldn’t, be rushed. It takes time for the lending company to verify your information and do a final evaluation to determine whether you represent a good candidate for the loan. On the other hand, while the underwriter is ultimately responsible for the approval of your loan, there are a few things you can do to reduce your risk and make the process go more smoothly: Protect Your Credit Score Nowadays, many lenders are required to check the borrower’s credit twice during the home loan application process: once during pre-approval and once right before closing. Maintaining a good credit score throughout the application process is crucial. Any changes can delay your loan process or adversely impact your ability to obtain a loan. Respond Promptly to Requests for More Information For the purposes of approving or denying your loan, a mortgage underwriter is essentially a real estate and financial investigator. This means they will be reviewing all of your documentation and paperwork in detail and reaching out for more information when something is incomplete. Don’t be concerned if they ask for clarification on a late payment, missed signature or large deposit—these are all normal requests. The important thing is to respond quickly and accurately, which will reduce the length of the underwriting stage and improve your chances of being approved. Be Proactive About Your Loan Approval The underwriter will take care of reaching out to the necessary parties, but that doesn’t mean you have to sit back and wait. Give your employers or other relevant parties advanced notice that they may be contacted to provide information. Call your lender and/or broker to check on the status of your application to make sure the underwriter is not missing any necessary information. In addition, keep records of your conversations with your lender so you have a record of what documents were provided and when. Do All You Can to Help Your Underwriter With the home you love at stake, the underwriting process can seem very intimidating. However, being prepared by filling out your application and supporting documents carefully and accurately will save you precious time. A Pennymac Loan Expert will be happy to answer any additional questions you may have about the underwriting process. Jump to… Part 1 – Getting Prepared for the Home Loan Process Part 2 – Completing a Home Loan Application Part 3 – Understanding Loan Processing Part 4 – Explaining the Mortgage Underwriting Process Part 5 – The Mortgage Closing Process Part 6 – Transfer of Loan Servicing

Posted in: Refinance, Renting Tagged: 2, action, All, ask, assets, balance, before, Blog, Broker, Buy, closing, company, Consumer Financial Protection Bureau, Credit, credit history, credit score, Debt, debt-to-income, Debts, decision, deposit, Employment, estate, expenses, finances, Financial Wize, FinancialWize, good, good credit, health, history, home, Home appraisal, home loan, house, impact, Income, investment, investment property, IRA, jump, Legal, lenders, lending, liens, loan, loan approval, Main, Make, money, More, Mortgage, mortgage payments, Mortgages, new, Other, payments, PennyMac, pre-approval, proactive, property, protect, protection, Purchase, questions, ready, Real Estate, Review, right, risk, save, savings, search, second, self-employed, Servicing, stage, taxes, time, title, title search, Underwriting, value, volume, will, work

10 Personal Finance Rules College Students Can’t Afford To Break

January 27, 2023 by Brett Tams

Personal finance 101 may not be on your course schedule, but that doesn’t mean you can’t school yourself on how to manage money. Learn these 10 personal finance rules that you can’t afford to break.Personal finance 101 may not be on your course schedule, but that doesn’t mean you can’t school yourself on how to manage money. Learn these 10 personal finance rules that you can’t afford to break.

The post 10 Personal Finance Rules College Students Can’t Afford To Break appeared first on Money Under 30.

Posted in: Commercial Real Estate Tagged: 2021, advice, after college, All, assessment, Auto, auto insurance, average savings, Bank, before, Budget, Budgeting, build, building, business, car, Career, Careers, clear, College, college graduate, college students, company, cooking, Credit, credit card, credit cards, credit score, data, Debt, decades, decision, deposit, Direct Deposit, discover, diversify, dream, Emergency, Emergency Fund, employer, employer-sponsored retirement plan, entry, expense, expenses, experience, experts, Family, Fees, Finance, financial tips, Financial Wize, FinancialWize, first job, fund, funds, get started, goals, good, good credit, grace period, graduation, great, groceries, habits, health, healthy, home, How To, impact, Income, industry, Insurance, interest, interest rate, interest rates, Investing, investment, investment portfolio, investments, IRA, job, jobs, Learn, learned, lenders, Life, Live, LLC, loan, Loans, low, LOWER, Make, Manage Money, manage my money, market, Marketing, marriage, married, money, Money Management, More, Mortgage, mortgage loan, Move, needs, new, offers, office, opportunity, organize, Other, paycheck, payments, Personal, personal finance, plan, portfolio, principal, protect, Purchase, questions, rate, Rates, ready, refinancing, retirement, retirement plan, Review, rewards, right, risk, routine, running, Salary, sales, save, Save Money, Saving, Saving for Retirement, savings, Savings Account, School, search, single, Spending, stage, Start Saving, stress, student, student loan, Student Loans, students, Style, time, tips, title, tools, under, unique, value, wealthfront, will, work, young, young people

10 Best Reasons To Start A Blog in 2023– Start Yours Now!

January 27, 2023 by Brett Tams

Are you thinking about starting a blog? If so, this article is full of great reasons to start a blog in 2023! Whenever I talk to people who are interested in blogging, one of the main things that stops them is whether or not it’s a good time to start a blog. My response is […]

The post 10 Best Reasons To Start A Blog in 2023– Start Yours Now! appeared first on Making Sense Of Cents.

Posted in: Extra Income, Money Tips Tagged: 2, 2022, 2023, advice, affordable, All, Auto, Beauty, before, Blog, Blogging, build, business, Career, cents, chance, clear, color, company, couple, crafts, customer service, data, DIY, Earn money, earning, education, Email Marketing, experience, Extra Income, Extra Money, Family, Fashion, Finance, Financial Wize, FinancialWize, fitness, food, funny, games, get started, goals, good, Google, great, Grow, guide, health, home, How To, ideas, Income, Inspiration, internet, job, journey, keywords, layout, Learn, learned, Life, list, Loans, low, Main, Make, Make Money, make money blogging, making, Marketing, money, More, more money, Motivation, MOZ, new, not too late, online business, Other, outdoor, passive, passive income, Personal, personal finance, pins, pinterest, planner, proof, Purchase, Relationships, right, room, running, save, Save Money, self-employed, SEO, Small Business, Social Media, space, Start a Business, story, student, Student Loans, Style, time, tips, title, Travel, trust, updates, value, Video, wants, Ways to make money, will, work, working

A Day In The Life of my Supposedly Frugal Stomach

January 27, 2023 by Brett Tams

Kicking Ass with Money is much like healthy eating and joyful living. It’s a series of daily habits that get you ahead, rather than a one-time heroic effort that fixes all your problems so you can go back to whatever you were doing before. Because of this parallel, the subject of food is one of the […]

Posted in: Money Tips Tagged: 2, active, affordable, All, avocado toast, Bank, bank account, bar, before, big, Big Picture, Blog, Books, Budget, building, car, cents, Children, chocolate, Choices, Clean, coffee, construction, cost, data, Debt, design, diet, Early retirement, eco, efficient, energy, expensive, Family, financial independence, Financial Wize, FinancialWize, food, frugal, Frugality, General, good, great, grocery, grocery bill, Grow, habits, Happiness, health, healthy, heat, home, house, kitchen, Learn, Life, Lifestyle, low, Luxury, Main, Make, making, marriage, meal planning, mess, money, More, Moving, moving in, needs, new, office, opportunity, Other, Parenting, parents, Personal, pizza, plan, Planning, productivity, Purchase, quality, Raising a Family, ready, Recipes, restaurants, retirement, returns, rewards, right, routine, running, School, second, simple, single, space, Spending, story, Style, The MMM Blog, time, under, unique, value, versus, will, work, workers

How to Budget When You’re on Inconsistent Income

January 27, 2023 by Brett Tams

Budgeting for travel is hard enough as it is. But add in a job that provides inconsistent income it may seem impossible. After years of trial and error, I finally figured out a way to stop stressing about budgeting and save for travel (and retirement!) all at the same time. The Tricks 1. Paying myself

The post How to Budget When You’re on Inconsistent Income appeared first on MintLife Blog.

Posted in: Apartment Safety, Budgeting, Travel Tagged: 2022, 401(k) plan, All, apartment, ATM, author, Bank, bank account, basic, bathroom, Benefits, Blog, Budget, Budgeting, budgeting for travel, budgeting my money, budgeting on inconsistent income, budgets, build, business, Career, chance, Clothes, color, company, contractors, cost, Credit, credit card, data, Deductible, deposit, design, Discounts, down payment, driving, Economy, employer, expense, expenses, expensive, Featured, Finance, Financial Wize, FinancialWize, freelance, freelancers, game night, gig, gig economy, goal, good, Graphic, great, gym, gym membership, health, Health Insurance, house, How To, Income, inconsistent income, industry, Insurance, job, jobs, layout, Learn, Life, Lifestyle, Loans, low, Make, making, Mint, mint.com, mobile, money, monthly budgets, More, more money, Moving, new, offer, offers, Other, Personal, personal finance, plan, programs, project, retirement, Review, room, roommate, Salary, save, Saving, savings, Savings Account, Side Hustle, Small Business, Spending, stock, Strategies, stress, student, Student Loans, Style, takeout, tax, tax time, taxes, time, tips, title, Travel, Travel Tips, tuition, white, will, work, workers, working

9 Ways to Use Alcohol Without Drinking It

January 27, 2023 by Brett Tams

Don’t let leftover alcohol derail your Dry January. Here’s how to put it to use without drinking it down.

Posted in: Moving Guide Tagged: 2, 2016, 2021, 2022, 2023, ad, advice, All, apple, at home, before, Benefits, blue, Buy, Christmas, Clean, cleaning, company, consumption, cooking, couple, data, Financial Wize, FinancialWize, flowers, food, foodie, furniture, garden, gardeners, Giving, good, Google, health, Holidays, home, Home Improvement, house, How To, ideas, improvement, kids, list, Local, Make, More, new, new year, offers, organization, Other, Personal, pie, pipes, plants, products, ready, Recipes, Research, sinks, stains, stock, story, streaming, time, TV Shows, white, will, winter, woman, workers
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