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Apache is functioning normally

May 29, 2023 by Brett Tams

A credit union is a nonprofit institution that’s owned by its members. Compared to a traditional bank, a credit union tends to offer more personalized service.

You can turn to a credit union for a variety of financial products, like checking and savings accounts, credit cards, car loans, and mortgages. Some regional and federal credit unions also offer wealth management services and other extras.

A typical credit union only accepts members who live in a specific region or work for an eligible employer. For example, they may require that you’re a resident of Atlanta, Georgia or work as a teacher.

The good news is some credit unions require less and make it easy for just about anyone to join. If you’d like to join a credit union but don’t want to worry about the strict membership requirements at most institutions, you’ve come to the right place.

38 Best Credit Unions Anyone Can Join

There are hundreds of credit unions that anyone can join, but we’ve done the heavy lifting and found the best ones for you. The credit unions below, which are overseen by the National Credit Union Administration (NCUA) may be an option for you, regardless of what you do for a living or where you’re located.

Just keep in mind that you may have to make a donation, join an organization, live in a certain state, or meet some other eligibility requirement. We encourage you to explore this lengthy to list of credit unions anyone can join so you can hone in on the ideal credit union for your unique situation.

1. Alliant Credit Union

Alliant Credit Union made its debut in 1935 to serve the employees of United Airlines. It stands out for it high-interest savings and checking accounts with low minimum opening deposits as well as excellent customer service.

You’ll also receive access to more than 80,000 free ATMs across the U.S. and get reimbursed up to $20 in out-of-network ATM charges per month. Since it only has two brick-and-mortar locations, you should feel comfortable with online banking. If you’d like to join Alliant Credit Union, make a $5 donation to Foster Care to Success.

2. Connexus Credit Union

Connexus Credit Union was founded in 1935 and has a widespread presence in Wisconsin as well as more than 54,000 ATMs across the country. It couldn’t be easier to join the credit union as all you have to do is pay a one-time $5 fee to the Connexus Association, which supports financial education through college scholarships.

As a member, you can open one of its three checking options with high APYs and a traditional savings account or one that’s specifically designed for the holidays.

3. Pentagon Federal Credit Union

Pentagon Federal Credit Union, or PenFed, was founded in 1935 as a credit union for military and civilian government. Today, this Virginia-based credit union has opened it doors to anyone as long as they open a savings account and deposit a minimum of $5. It offers two savings accounts, including the Regular Savings and Premium Online Savings.

In addition, you can find checking accounts, CDs, and money market accounts. Other products include Coverdell Education Savings Certificates, IRAs, credit cards, mortgages, home equity loans, and student loans. Plus, you can enjoy modern perks like mobile check deposits, online bill pay, and instant transfers.

4. First Tech Federal Credit Union

First Tech Federal Credit Union is headquartered in California. The credit union offers many benefits, such as excellent customer service, many branches throughout the U.S. and Puerto Rico, online banking, and mobile banking.

It also has the Dividend Rewards Checking Account, which gives you 1.00% APY on balances below $1,000. You don’t have to live in California to join as long as you donate to a nonprofit called the Financial Fitness Association.

5. Consumers Credit Union

Consumers Credit Union was established in 1951 as a local credit union. Based in Illinois, it’s one of the largest credit unions in the state with over 100,000 members and more than $1.2 billion in assets.

You can join it, even if you don’t live in Illinois. All you have to do is donate the $5 membership free to an affiliated nonprofit. You can open almost all of its accounts online, except for the checking accounts and IRAs. The credit union also offers a high-yield checking account that offers high interest if you meet certain criteria.

6. Langley Federal Credit Union

Langley Federal Credit Union is based in Virginia and made its inception in 1936. At that time, members of the National Advisory Committee for Aeronautics, the predecessor to NASA, chartered the credit union.

Today, Langley offers membership to anyone who pays a fee to support an important cause in Virginia and deposits at least $5 into a savings account. You can choose from a checking account without a monthly fee, a variety of no-fee savings accounts with competitive interest compounds monthly, and Visa Cards with cash back rewards.

7. Lake Michigan Credit Union

Lake Michigan Credit Union made its debut in 1933 by a group of teachers. Headquartered in Grand Rapids, Michigan, it has 51 branches in Michigan and southwest Florida. Since it’s part of the Allpoint ATM network, members can enjoy free access to more than 55,000 free ATM.

To join, donate $5 to the ALS Foundation and deposit $5 into a Member Savings account. Once you do, you can earn perks through the MORE rewards program and redeem them for complimentary checks and free out-of-network ATM transactions.

You may also open the free, no frills Max Checking account. Note that the Member Savings account, which you must open to become a member, requires a minimum daily balance of $300 or you’ll be charged a $5 monthly fee.

8. Lafayette Federal Credit Union

Lafayette Federal Credit Union was founded in 1935 as an alternative to traditional banks. It offers numerous perks, like no minimum balance requirement or monthly maintenance fees, online banking, mobile deposits, free direct deposit, and special discounts.

You can join it if you live, work, worship, or attend school in Washington D.C. If you live outside the D.C. area, you may still become a member as long as you invest in a lifetime Home Ownership Financial Literacy Council (HOFLC) membership for only $10. This nonprofit focuses on helping consumers navigate the path to homeownership.

9. Affinity Plus Federal Credit Union

Affinity Plus Federal Credit Union has 26 branch locations across Minnesota. APFCU offers MyPlus Rewards that gives you points if you keep a certain amount of money in your bank account or use its debit or credit card.

To be eligible to join, all you have to do is donate $25 to the Affinity Plus Foundation and open a basic savings account. If you live and work in Minnesota or have a family member in the state, there are other ways to become a member.

10. Chevron Credit Union

Chevron Credit Union has been around since 1935 and has 19 branches that span six states, including California, Louisiana, Mississippi, Texas, Utah and Virginia. It operates under two brands: Chevron Federal Credit Union and Spectrum Credit Union.

To become a member, join one of its nonprofit partner organizations, such as the Contra Costa County Historical Society. You’ll also need to deposit $25 into a primary savings account and maintain a $25 minimum balance.

Chevron also offers a second chance checking account called New Solutions for those who need help rebuilding their banking history.

11. Ascend Credit Union

Since its inception in 1951, Ascend Credit Union has offered a variety of products, like checking and savings accounts, a money market account, Christmas Club account, youth accounts, credit cards, and loans.

If you’re interested in these services, join The Nature Conservancy, Tennessee Chapter and you’ll be eligible automatically. Note that there is a one-time fee of $25.

12. Hope Credit Union

Hope Credit Union is a black-owned credit union that was organized in 1995 by the Anderson United Methodist Church in Mississippi. You can join if you pay a $10 membership fee and show a foreign passport, permanent resident card, or Matricula Consular. Plus, you may use an ITIN number instead of a Social Security number.

Hope Credit Union provides a number of personal bank accounts, business banking accounts, and transformational deposits. With its transformational deposits, you can participate in socially responsible investing.

13. Boeing Employees Credit Union

Boeing Employees Credit Union, or BECU, was established in 1935 for Boeing employees and currently caters to more than 1 million members. But despite its name, you don’t have to work at Boeing to join.

Its products and services are available to you if you become a member or donor to the KEXP, which is a nonprofit art organization or the Sea Hawkers Central Council. The most noteworthy benefit of joining is the first-time homebuyer grant in which you can receive $7,500 toward your down payment and closing costs.

14. Hiway Credit Union

Hiway Credit Union made its debut in 1931 to serve employees of the Minnesota Department of Transportation. It offers a free checking account with no monthly fee or minimum balance requirements, a free money market account with a $500 minimum deposit, credit cards, and loans.

You can qualify for a Hiway Federal Credit Union membership if you donate to the Minnesota Recreation and Park Foundation for $10 per year or the Association of the U.S. Army, which costs $40 for two years.

15. GreenState Credit Union

GreenState Credit Union was founded in 1938. It provides its members with personal accounts, business accounts, credit cards, loans insurance, wealth management services, and more.

GreenState was named one of the fastest growing credit unions in 2021. As long as you live or work in the state of Iowa, you can become a member and take advantage of its services without any issues.

16. Cascade Credit Union

Cascade Credit Union made its debut in 1952 to serve employees of the Cascade Division of the Great Northern Railway. Today, it’s open to many people and offers great perks like members-only sweepstakes, competitive rates, online banking tools, financial counseling, and group insurance benefits.

If you’d like to join, simply become a member of the Great Northern & Cascade Railway Association (GNCR) and pay an annual membership cost of $40. The credit union can help you fill out your application online or in-person at a local branch.

17. Wildfire Credit Union

Wildfire Credit Union began in 1937 as Saginaw Telephone Employees Credit Union, its original credit union name. Its first location was in the basement of the home of Hank Kosk, the credit union’s treasurer.

After some office upgrades, the credit union opened the doors to its current location on Bay Road in Saginaw and merged with Flint Telephone Employees Credit Union that same year. Today, Wildfire Credit Union offers several deposit accounts as well as personal banking and business banking services. You can join if you live, work, worship, or attend school in Michigan.

18. Nextmark Credit Union

Nextmark Credit Union made its debut in 1958. Its offerings include personal and business checking, home equity loans, personal loans, credit cards, gift cards, and more.

To join, you must live in a qualifying county in Virginia or make a donation to Herndon Elementary PTA, a Title I school.

19. Technology Credit Union

Technology Credit Union, or Tech CU, was established in 1960. It’s based in Silicon Valley and provides its members with no shortage of benefits. These include competitive rates, online banking, access to fee-free ATMs, free credit score monitoring, conference room space, and easy online appointment booking. To become a member, join Financial Fitness Association for only $8.

20. Veridian Credit Union

Veridian Credit Union was established in 1934. Most of its members are those who live or work in Iowa or certain counties of Nebraska. However, it’s open to anyone who is a registered user of Dwolla, a financial technology company. This means you can join as long as you sign up for a personal account at Dwolla.

You’ll also need to open a savings account and deposit at least $5. If you’re already a member of a credit union or bank but would like to switch to Veridian Credit Union, the switch kit may be helpful.

21. Harborstone Credit Union

Harborstone Credit Union’s roots date back to 1955, when it was known as McChord Federal Credit Union and served airmen on the McChord Air Force Base. In 1996, the credit union expanded its membership to anyone in the state of Washington and changed its name as a result.

As long as you live, work, or worship in Washington, you may join Harborstone Credit Union and enjoy a variety of financial products and digital tools.

22. NASA Federal Credit Union

NASA Federal Credit Union began in 1949 to serve NASA employees. Since then, it’s grown to more than 177,000 members. While the credit union is headquartered in Upper Marlboro, Massachusetts, there are 12 branches in Maryland, Virginia, and Washington, DC.

Its product lineup includes a simple checking account with no minimum opening deposit, a savings account with a great rate, and several CDs. You can also monitor your credit score and make deposits with the mobile app. If you don’t work for NASA, you can still join. Simply sign up for a one-year membership at the National Space Society (NSS).

Hanscom Federal Credit Union opened in 1953. The credit union has over 20 branches in and around Boston as well as one in McLean, Virginia. It offers fee-free checking accounts, savings accounts with rewards, credit cards, and loans.

To join, you’ll need to support one of its partner organizations, such as the Burlington Players, a volunteer theater group. In addition, you’ll be required to deposit $25 into a free primary savings account.

24. Pen Air Federal Credit Union

Pen Air Federal Credit Union was founded in 1936 to support civil service employees of Naval Air Station Pensacola. It has 16 locations in northwest Florida and southeast Alabama. You may be surprised to learn that you don’t have to be an active duty or retired military member to join.

You’ll be able to take advantage of Pen Air Federal Credit Union if you become a member of the Friends of the Navy-Marine Corps Relief Society and deposit a minimum of $25 into a savings account. As a member, you can enjoy the Pen Air Platinum Mastercard, Share Savings account with the Round It program, and more.

25. State Department Federal Credit Union

State Department Federal Credit Union was founded in 1935. To join, you can become a member of the American Consumer Council for $8. This is a non-profit organization with a focus on consumer education and financial literacy.

The State Department Credit Union offers a long list of products and services, including basic, advantage, and privilege checking, a money market account, share certificate accounts, individual retirement accounts (IRAs), credit cards, and loans.

26. United Nations Federal Credit Union

United Nations Credit Union made its debut in 1947. As long as you join the United Nations Association of the United States of America, you can become a member.

UNFCU has a vast product lineup that includes a checking account, membership savings account, credit cards, debit cards, and loans, like car loans and debt consolidation loans.

Other membership perks include loyalty rewards, credit card rewards, and the member referral program.

27. Premier Members Credit Union

Premier Members Credit Union was established in 1959 for members of the Boulder Valley School District. You’re eligible to join if you make a donation to Impact on Education, a charity in the Boulder Valley School District, and open an online savings account or youth savings account.

As a member, you can expect perks, such as high interest rates on checking accounts, no monthly service fee, no overdraft fees, and free overdraft protection. The credit union also offers an extensive network of branches and ATMs for your convenience.

28. SRI Federal Credit Union

SRI Federal Credit Union is headquartered in Menlo Park, California. It was founded in 1957 and offers membership to anyone who joins the Financial Fitness Association for $8 per year.

The credit union’s account offerings include a checking and savings account, money market account, IRA, health savings account, and youth, teen, and gradate accounts.

29. United States Senate Federal Credit Union

United States Senate Federal Credit Union has been around since 1935. Its mission is to “improve the financial wellness of members throughout all stages and circumstances of life.” Its products are similar to what most credit unions offer.

As a member, you can enjoy access to a number of checking and credit union savings accounts, mortgage loans, personal loans, auto loans, Visa debit cards, and business advisory services. To join, you’ll need to become a member of the U.S. Capitol Historical Society for $65.

30. Wings Financial Credit Union

Wings Financial Credit Union was founded in 1938 by seven employees from Northwest Airlines. To date, it serves more than 320,000 members with more than $7.5 billion in assets. You can join if you donate $5 to the Wings Financial Foundation, even if you don’t work in the aviation industry.

There are no fees on its basic banking accounts, including its checking and savings accounts, a money market account, and CDs. Its high yield savings and checking accounts offer competitive rates to help you grow your money.

31. Skyward Credit Union

Skyward Credit Union was chartered in 1941. It offers a share savings account with competitive rates, an aim higher checking account with no monthly fees or minimum balance requirements, affordable mortgage and home equity loans.

It also offers online banking, a variety of insurance products, and access to over 30,000 surcharge-free ATMs. Like most credit unions require membership, so does this one. To become a member, join the Kansas Aviation Museum.

32. San Diego County Credit Union

San Diego County Credit Union has been around since 1938 and has over 430,000 credit union members. It’s considered the largest locally owned financial intuition in San Diego.

As a member, you can enjoy a free checking account, secured and unsecured credit cards, a wide range of account options with no service fees, and access to over 30,000 ATMs without ATM fees. To join San Diego County Credit Union, become a member of the Financial Fitness Association.

33. Bellco Credit Union

Bellco Credit Union is a Denver-based credit union that opened its doors in 1936. You can join it even if you don’t live in Colorado as long as you donate at least $10 to the Bellco Foundation, pay a one-time $5 membership fee, and deposit at least $25 in a savings account.

Once you do, you’ll have access to several noteworthy products, like the Boost Interest Checking account, which offers a competitive interest rate, the Premier Money Market Account, and two, no-fee credit cards.

34. Bethpage Federal Credit Union

Bethpage Federal Credit Union was founded in 1941 and currently has over 30 branches across Long Island and New York City. It has a reputation for competitive rates on it money market accounts and certificates of deposit (CDs).

The credit union also offers three checking accounts, a few savings accounts, retirement planning services, IRAs, insurance, and more. You don’t have to live in New York to join if you open a $5 savings account. As a member, you may meet with credit union staff virtually and bank on the go with a handy mobile app.

35. First South Financial Credit Union

First South Financial Credit Union opened its doors in 1957 to serve those on the Millington base. Since then, it has become of the safest financial institutions in the U.S., as stated by independent rating agencies. While the credit union has locations throughout Tennessee and Mississippi, its online banking services make it a suitable option if you live elsewhere.

Like other credit unions, it offers a full suite of checking, savings, CDs, and IRA accounts. To join, become a member of the Courage Thru Cancer Association, which supports St. Jude Children’s Research Hospital.

36. Dow Credit Union

Dow Credit Union was founded in 1937 in Midland, Michigan. It provides numerous products, including checking and savings accounts, certificates of deposit (CDs), HSAs, deposit trust accounts, and loans.

Fortunately, you don’t have to work at Dow Chemical to take advantage of them. To join, make a $10 donation to the Dow Chemical Employees’ Credit Union Endowed Scholarship Fund.

37. Blue Federal Credit Union

Blue Federal Credit Union was chartered in 1951 as Warren Federal Credit Union. If you’re looking for a high-yield checking account, you’ll appreciate its Blue Extreme Checking Account with no minimum opening deposit or monthly service fees.

Other perks include a tiered membership rewards program and round-the-clock customer service. The easiest way to become a member is to donate $5 to the Blue Foundation and open a Membership Share Savings Account with $5.

38. Digital Federal Credit Union

Digital Federal Credit Union (DCU), based in Marlborough, Massachusetts, was established in 1979. Today, it is known for its comprehensive range of financial products that includes checking and savings accounts, auto loans, mortgages, personal loans, credit cards, and wealth management services.

Perhaps one of DCU’s standout features is its commitment to digital banking, offering robust online and mobile platforms that compete with larger, nationwide banks. This makes DCU a fitting choice for those who prefer online banking, no matter where they live.

Membership is open to those who are a part of participating organizations or live, work, worship, or attend school in eligible communities. If you don’t fit those criteria, you can still join by becoming a member of a participating nonprofit organization, such as Reach Out for Schools, which requires a nominal donation.

See also: Best Nationwide Credit Unions of 2023

Bottom Line

Not all credit unions are created equal. Some have strict membership criteria, while others are more flexible. Before you join a credit union (or several credit unions) on this list, be sure to consider numerous factors.

You’ll want to look at eligibility requirements, branch location, monthly maintenance fees, accounts offered, interest rates, mobile banking, digital banking, reputation, and customer service. Best of luck as you explore the best credit unions and search for the perfect credit union.

Frequently Asked Questions

Can civilians join Navy Federal Credit Union?

Yes, civilians can join the Navy Federal Credit Union (NFCU), the largest credit union in the U.S. However, this is limited to immediate family members of service members in all branches of the armed forces. This broad eligibility criteria is one of the reasons why NFCU has grown to be the largest credit union in the country.

Can anyone join American Airlines Credit Union?

No, not anyone can join the American Airlines Credit Union. Membership is limited to those who work in the air transportation industry, including airlines, airports, and related businesses, as well as their family members. While this broadens the scope beyond just American Airlines employees, it still doesn’t include everyone.

Source: crediful.com

Apache is functioning normally

May 29, 2023 by Brett Tams

Financial institutions have always struggled to achieve their priority sector lending (PSL) targets. Under obligation from the central bank, financial institutions end up fulfilling PSL targets through secondary markets.

The Reserve Bank of India (RBI) defines priority sectors as agriculture, MSME, micro-credit, education, housing, export credit, and weaker sections. Republic caught up with BASIC Home Loan founder & CEO, Atul Monga to understand the trends in the priority sector lending for housing in India, how technology is solving the problem, and what BASIC is doing to ease the burden of Financial Institutions.

1. What have been your 3-5 key observations of the priority sector lending for housing in India, from Consumer, Technology & Lenders perspective?

Financial institutions face challenges in achieving their priority sector targets for housing due to various factors.

Firstly, most lenders have adopted a limited and selective criterion for eligibility, thereby excluding a large group of consumers from credit access. Secondly, the process of acquiring a loan can be rather tedious as there is a lack of uniform submission of offer documents and other information.

Also, inadequate technological infrastructure and a lack of digital connectivity have resulted in operational inefficiencies. Hence there is a need for more cost-effective and timely loan disbursal and servicing solutions.

2. Can you share more about your role in the whole process of priority sector lending for the housing sector? How does it work? How Banks/FIs benefit by working with you?

Affordable housing in India has been neglected by ecosystem players and banks, despite being a mandated priority sector for lending by the RBI. The current technology development in home loans is limited to web aggregators who generate leads without providing fulfillment support, mainly focusing on tier-1 cities.

We recognized the opportunity and leveraged their experience in e-commerce logistics and technology to address the automation and tracking challenges in this sector. Mortgages, especially for affordable housing, remain a largely untapped market with high lending rates ranging from 18% to 25%. However, default rates are low due to the social importance of homes in low to middle-income groups and the NPAs are low at usually

BASIC aims to simplify and expedite the home loan process for middle- and low-income groups through a “Phygital” approach, combining personalized assistance from experienced agents with digital tools.

By offering services that facilitate faster loan processing and reducing manual intervention, BASIC supports banks and financial institutions in meeting their targets while providing better products and transparency to customers.

3. Why do FIs lag in achieving their priority sector targets for the housing sector? What ails them?

Financial institutions (FIs) face challenges in meeting their priority sector targets for housing due to inadequate regulatory guidelines and funding. The absence of clear directives hinders their ability to effectively allocate resources and cater to the housing needs of the priority sector.

Furthermore, lending to the priority housing sector poses risks for FIs, as many borrowers have poor credit histories. This increases the likelihood of defaults, making it challenging for FIs to recover loans in the event of a default.

4. What are the trends you see in this space over the next 2-3 years? Can technology be the disruptor?

We believe that technology has the potential to revolutionize priority sector lending in the housing sector. Through the automation of loan processes and utilization of data analytics, loans can be disbursed efficiently and in a timely manner, while also improving the overall customer experience. Additionally, there is a gradual shift in the industry towards digital solutions for loan marketing and acquisitions.

This transition to digital platforms and technologies facilitates greater accessibility and effectiveness in reaching out to borrowers. By leveraging technology, priority sector lending can be transformed, offering cost-efficient operations and enhanced customer experiences.

5. How can the priority sector lending be transformed for the housing sector? Do you believe the limit for priority sector lending for the housing sector needs to be revised? If yes, what’s your argument for it, and how do you think it will help India & consumers?

Transforming priority sector lending in the housing sector requires key initiatives. First, digitalizing processes would allow lenders to access information quickly and accurately. Second, establishing a secure central database would store customer information and enable its accessibility for lenders. Third, introducing innovative financial products with flexible loan terms and non-traditional repayment structures would enhance lending options.

Additionally, improving outreach programs would raise awareness and expand the customer base. Lastly, revising the limit for priority sector lending would make it more accessible, driving increased credit and reducing the cost for the housing sector, thereby benefiting India’s economy.

6. Can you share what’s the social impact BASIC has created through priority sector lending for housing in India?

BASIC has made a significant positive social impact through its priority sector lending for the housing sector. By providing access to credit for underserved segments of the population, BASIC has enabled individuals and families to fulfill their dream of owning a home.

We have also worked towards reducing the turnaround time for credit approval, ensuring that borrowers can receive timely financial assistance. Moreover, BASIC offers more flexible loan terms, tailoring them to suit the specific needs and financial capabilities of borrowers. Thus, BASIC has empowered customers and improved their standard of living.

Source: republicworld.com

Apache is functioning normally

May 29, 2023 by Brett Tams

How Amanda Paid Off $133,763 In Debt in 43 months #debtpayoff #payoffdebt

My monthly Extraordinary Lives series has been a lot of fun, and I’m back with another inspiring interview. First up was JP Livingston, who retired with a net worth over $2,000,000 at the age of 28. Today’s interview is with Amanda, who is now living debt free after paying off $133,000 in three years and seven months.

I’ve been following Amanda – @debtfreeinsunnyca – on Instagram for quite some time, and I’m so happy that I was finally able to interview her!

In this interview, you’ll learn:

How Amanda got into debt.
Why she decided to get out of debt fast.
The expenses she cut so that she could pay off her debt quickly.
What she thinks about the cash envelope method.
The sacrifices she made to reach her goal.
What she did to stay motivated.

And more! This interview is packed full of valuable information!

I asked you, my readers, what questions I should ask her, so below are your questions (and some of mine) about Amanda’s story and how she has accomplished so much. Make sure you’re following me on Facebook so you have the opportunity to submit your own questions for the next interview.

Related content:

Tell me your story.

Hey Michelle! Thank you for the opportunity. Here is my story.

I was 22 years old and working as a massage therapist on a cruise ship when I was diagnosed with carpal tunnel and cubital (elbow) tunnel. The career that I had trained for was no longer an option. I had to start over and pick a new career. Tired of working commission jobs where your paycheck depends on how good of a salesperson you are, I sought out an in demand, well-paying career in cyber security.

Like any normal person would do, I took out student loans to cover my tuition. I didn’t pay any attention to how much I was borrowing or the interest rate. I figured I would be making the big bucks when I graduated and could afford the payments. To make that happen, I worked hard to get into my field and landed an internship during my first year in school. By the time I graduated, I had already been in the IT field for several years.

So, was I making the big bucks now? Nope, not even close. There was no big, fat pay raise when I graduated. Reality slapped me hard in the face when I realized I wasn’t going to be able to afford my student loan and car payments with my small salary in California.

I knew I had to do something to clean up my mess. Years before I had tried to get out of debt by following Dave Ramsey’s plan, but reverted to my old ways after going through some personal things. Wanting to give it another try, I enrolled in Financial Peace University. I also went back to school for my master’s degree. This allowed me to defer my loans while cleaning up my mess. The best part was the company I now worked for reimbursed tuition for degrees that are related to your field.

My debt was over $80,000 and consisted of student loans, a car, and a small credit card. Once I committed to doing a zero-based budget, I started to see some great progress. I was sharing all my progress with my then boyfriend, now husband. I tried to get him on board, but he wasn’t interested at the time. After a few months of hitting it hard, I started to get mad that my balance wasn’t going down as fast as I wanted it to. It was going to take me forever to get out of debt!

That’s when I had my second “I’ve had it” moment where I was now ready to take action. The Prius I was upside down on had to go. It was a drastic, but necessary move. I quickly saved up $5,000 for a used Honda Civic and sold my car. With one transaction I got rid of $17,000 worth of debt. It felt like I was getting somewhere now! Because of my past, dumb mistakes, I had to take out a $7,000 loan to cover the difference I was upside down on. Owing $7,000 is WAY better than owing $24,000. I consider this to be the best financial decision I’ve ever made. It catapulted my debt snowball and provided the motivation I needed to continue.

After seeing my progress and going through FPU, Josh got on board and started paying off his debt. He cash flowed my engagement ring and proposed several months later! We paused our debt free journey and cash flowed $14,000 in six months for our wedding and honeymoon.

With the wedding behind us, it was time to get to business. Together we had a total $133,763 in debt. Josh added a truck and multiple credit cards to the pile of debt. We combined our accounts, started doing a zero-based budget, and utilized cash envelopes to stay on track. We both worked to increase our income while keeping the same lifestyle. After three years and seven months of hard work, we became debt free on July 5th, 2018!

How much debt did you have and what was your debt from?

Our debt totaled $133,763 and consisted of 16 student loans, 8 credit cards, 2 vehicles, and 1 personal loan. Nearly half of our debt was my student loans from my associate’s and bachelor’s degrees.

Why did you want to get out of debt fast?

It’s an awful feeling not having enough money to pay your bills or having to tell your friends/family you can’t go out because you’re broke. I wanted to get out of debt fast so I could afford my bill and have money to do the things I enjoy.

My why evolved over time when Josh and I started talking about our future together. He almost bought a sailboat when he got out of the Army years ago. Josh ended up moving back to San Diego instead, and then we met. He shared his dream with me, and I was immediately on board. I had been obsessed with tiny house living, and having worked on cruise ships, I loved the water. Getting a sailboat and one day quitting our jobs to travel became our new why.

How long did it take you to pay off your debt and reach debt freedom?

We spent three years and seven months working on paying off all our debt. The first year I was on my own. We weren’t married yet, and it took some time to convince Josh to get on board. After getting engaged, we paused our debt payments for six months to cash flow our wedding. We finished up the remainder of our debt a year and a half after we were married.

How did you manage to get out of debt so fast?

Getting out of debt can be broken down into two areas: increasing your income and cutting your expenses. We did both during our journey.

Our income increased by $75,000 during our debt free journey. This was from raises, overtime, and on-call pay. How did we do this? I attribute a lot of my success to working while I was going to school. I landed a part-time internship when I was in my first year of school. It allowed me to work my way up the ladder faster and increase my income. While in my master’s program, I managed to get into the IT Security department at my company. It came with a significant pay increase and each yearly raise has been a generous amount.

Josh also works in IT. He doesn’t have a degree, but his eight years of experience in the Army and his drive more than make up for it. Josh manages critical applications and is one of the go-to people in the IT department. He’s on-call and often working overtime. His skills and work ethic have earned him well deserved pay increases over the years.

Cutting expenses also helped us reach debt freedom faster:

Housing

For most of our journey, we lived in a small 550 sq. ft house to keep rent low. This saved around $400 a month for the 2.5 years we lived there. That’s $12,000 saved!

Vacations

Other than a honeymoon, we didn’t go on a vacation during our whole debt free journey. We had a few small trips: graduation, a wedding, Christmas in Tennessee with my family, which my mom paid for because she wanted to see us while supporting our journey.

Instead of traveling, we found free things to do in San Diego. Going hiking with the dogs was one of our favorite things to do. We also hung out with friends at their house instead of going out. We would cook dinner and watch a movie or TV series.

Hobbies and fun

Josh has a lot of expensive hobbies that he put on hold during our debt free journey: spear fishing, fishing, tech stuff, etc. I didn’t have any hobbies since my life was consumed by work and school. We cut out restaurants, date nights, movies, and excessive clothing. If we wanted to go out to eat or buy booze, it would come out of our budgeted spending money. There were a lot of Netflix and chill nights! Our date nights consisted of grilling out in our yard and sitting by the fire pit. We did budget for date nights whenever we hit a big milestone.

Work perks

Josh and I work at the same company, which allowed us to carpool to save money. Additionally, our company has amazing benefits. Our health and dental insurance are extremely affordable, both of our cell phones are paid for because we’re on call, and we’re able to make up missed hours instead of taking PTO if we need to leave work for some reason.

Can you tell me about cash envelopes? How does it work and why do they help?

Cash envelopes are a budgeting method where you take out cash for specific categories instead of using your debit/credit card for purchases. Each payday we take out money for groceries, gas, spending money, and any sinking funds we’re saving for. For that two-week period, all groceries come out of the grocery envelope. Same with gas and spending money. Once it’s gone, it’s gone! There’s no money left in our accounts because it’s all been paid to debt, so you better spend the money wisely! We had our emergency fund in case anything happened, but spending too much on groceries is not an emergency.

This method really helps curb your spending because you feel it more when you use cash. It’s also easy to look in your wallet and see how much money you have for each category to stay on track. Josh is a spender and he’s had great success with cash envelopes. I had a wallet with several dividers made for him to make it easy.

A lot of people are scared to carry around cash. I think the benefits of using cash outweigh the risk of losing it or it being stolen. I suggest only carrying around the amount that you need and leaving the rest at home in a safe until you need it. If anything were to happen, you always have your emergency fund to fall back on.

What is your response to people that say, “You should invest that money instead of paying off the debt, you’ll earn more in the long run…” etc.?

Ahhh the age-old argument! My response is do what works best for YOU! Everyone’s situation and priorities are different.

When I started, I didn’t have a choice because I wasn’t going to be able to afford the minimum payments on my debt! As we got further into our journey, sure we could have invested, but paying off debt was more important to us. Becoming debt free is a sure thing and will force you to change your spending habits for the better. I never want to get in a bind and have to pull out investments early because of debt or bad spending habits.

What sacrifices did you have to make in order to become debt free?

The biggest sacrifice I made to become debt free was selling my beloved Prius for a 2005 Honda Civic. At first, I didn’t want to sell it. I was going to try and get out of debt while keeping the car. After eight months of paying down my car loan and not making a lot of progress, I realized I had to make some bigger sacrifices, otherwise I would fall back into my old spending habits and go further into debt. I still miss the ability to get into my car without taking the keys out of my purse and the convenience of Bluetooth! My used Honda is old and janky, but it’s paid off!

Often people paying off loads of debt feel they have to choose between “living life” and making payments. Were there any times during the journey that you chose to “splurge”?

There were a few times we splurged! We got sick and tired of living in a small house, so we moved into a bigger rental with office space and a yard for the dogs. Before moving we did a cost analysis on the expenses to determine if it was worth it to us to push back our debt free date by a few months or stick it out and continue living the same way.

Our new place was so empty when we moved in. Imagine going from 550 sq. ft to over 1,300! We didn’t even have a table. We spent a few weeks buying furniture and things that we needed for the house before getting back into the swing of things.

Another big splurge was a complete surprise to me! I had been eyeballing this nice Canon DSLR camera and planned on getting it as a debt free gift to myself. Right before I graduated with my master’s degree, my mom was in California on a travel nursing assignment. She knew we were on a strict budget and would say no to most things that cost money. My mom told me she won $150 gift card and wanted to use it to take us out to eat.

I agreed because who passes up free!? During dinner, I kept making comments about us going all out because we have to use up the gift card. Avocado eggrolls, pizza, and several beers later, Josh said he forgot his wallet out in the truck and went to grab it. He came in the door behind me and set a big present on my lap! I immediately knew it was the camera!

So, how did Josh get this big purchase by me? He’s a veteran and was in school at the time. Veterans get a housing allowance each month while in school per the Post-911 GI Bill. The money was deposited into his personal checking account, and then he moved it to our joint checking every month. He told me that the allowance was delayed that month because of paperwork! I completely bought it. Josh used the money to go in on my graduation gift with my mom.

And the gift card? There was no gift card! They knew the only way to get me to a restaurant during our debt free journey was to lie to me and say she had a gift card. The total with tip came out to just over $150.

What did you do to stay motivated?

It’s so important to find ways to stay motivated when you have years of work ahead of yourself. Because I had fallen off track once before, I knew I had to find better ways to stay motivated and focused.

Visuals were by far my favorite way to stay motivated. I had multiple charts, spreadsheets, and countdowns going at home and work. Every time we made a payment towards debt, I would get to color in charts, change Excel spreadsheets, and update the whiteboard at work. Having reminders where you’ll see them every day is extremely motivating.

I also sought to find other people on the same journey. Back in 2014, there weren’t a lot of people on Instagram sharing their progress and journey. I found a small group of people from searching #debtfree and #daveramsey, and started following them. The hashtags started to get polluted by people selling those skinny teas and weight loss wraps. I put out a call to the small community, and we decided to vote on our own hashtag. That’s how the #debtfreecommunity was born!

It’s so motivating to talk to people who are going through the same thing. In real life, none of my friends or coworkers were trying to get out of debt. Their eyes would gloss over when talking about budgets or paying off a debt. Every time I opened Instagram, I would immediately be motivated by another person’s journey or the lovely comments left on my posts.

If you were starting back at ground zero, what would you do differently?

There are so many things I would do differently! First off, instead of getting a $12,000 car when I was 16, I would save up a few thousand and buy a used, reliable car. That one decision would set my life on a much better path! I’d be able to save up money and pay for school upfront, which is my next point. I would spend more time figuring out what I want to do in life and researching schools. I’d make sure to pick a career that is not commission based and makes a great salary. I would start investing early in life, even if it was only $100 a month. I would continue to pay cash for purchases, save money, and invest.

What is your very best tip (or two) that you have for someone who wants to reach the same success as you?

Hands down the best tip I can give is to create a zero-based budget and stick to it. A budget doesn’t sound sexy or fun, but it gives you freedom to spend money on the things that matter to you. Budgeting doesn’t mean you have to cut out all your fun! Put it in the budget. The point is to know where your money is going and to spend it intentionally. Don’t resist the budget!

The second tip I can give is to find your people! It’s hard to stay motivated to pay off debt or save when all your friends are spending money left and right. Having a supportive group of people that get you is priceless.

What’s your next financial goal?

Our next financial goal is to save $25,000 for our 6-month emergency fund. We want to be prepared for anything that comes at us!

We keep $2,000 in a local savings account and the rest will be in a high interest savings account. Transferring money from our large emergency fund to our checking account takes a few days, which is great because it helps prevent us from dipping into it for non-emergencies.

The emergency fund will cover all of our expenses for six months with minimal cuts to the budget. It’s going to be a huge relief to have money set aside just in case. No more money fights when something unexpected happens!

Where can my readers go to learn more about you?

You can learn more about us by following along on Instagram.

Do you have any other questions for Amanda? Are you trying to pay off debt?

Apache is functioning normally

May 28, 2023 by Brett Tams

Building a channel is never easy, and it takes consistent effort to reach the top. Over the past year, YouTube channels have been getting hacked more frequently. Large Creators like Meghan Rienks, Corridor Crew, McCreamy, and even Linus Tech Tips almost lost their channels forever. Below are some of the biggest creators who nearly lost all their years of hard work.

1. Meghan Rienks

In October 2019, YouTuber Meghan Rienks encountered a career-threatening breech to her channel with over 2 million followers. While watching YouTube on her TV, she was logged out of her YouTube account from another location. After some investigation into her emails and other YouTube accounts, she came to the conclusion that she was hacked.

From Bad to Worse

She tried to kick the hacker off her accounts and thought she succeeded but there was more trouble on the way. Her channel was restricted, from showing up in a search. Her channel wasn’t visible to anyone but herself, meaning she couldn’t gain any views or revenue from it. She reached out to her YouTube rep, but even then it took a few weeks to resolve the matter.

2. McCreamy

McCreamy is a Fortnite Gaming channel that got hacked last year. In May 2022, McCreamy went to bed just like any other day, only to get numerous notifications on his phone which prompted him to get up and check his computer. He was shocked to find out that he had been logged out of his account. The hackers began to post a fake live stream promoting a crypto scam to his viewers. McCreamy tried to fix the problem through YouTube and was infuriated when it didn’t work.

Turning to Crowd-Sourcing for Help

He took to Twitter to try and get in contact with YouTube support. Other creators shared his tweet and YouTube replied 4 hours later offering their help. Even then, he encountered a lot of problems: YouTube wasn’t timely in their responses and didn’t give him any assurance. Luckily, 72 hours later his channel was back functioning normally.

3. Corridor Crew

Corridor Crew is a VFX Entertainment channel that also experienced a devastating hack on their channel with over 6 million subscribers. The breach occurred through one of their employees, whose phone was hacked and login details were stolen. The hacker silently got into their channel through their employee and began wreaking havoc by live-streaming a fraudulent investment promotion. Luckily they caught on early and got in contact with YouTube support. After five days, they managed to get their channel back.

4. LinusTechTips

This hack was the biggest shock to the entire YouTube community. It’s crazy to imagine that the biggest tech empire on YouTube had two of their channels hacked. It was particularly ironic since the day before, LTT had posted on Twitter asking people for their biggest fails. Linus was in bed at night when he got news of his channel being hacked.

Nobody is Immune

He quickly sprung up and started trying to secure their channels. The channels had been hacked to showcase yet again the common Crypto scam Livestream targeted at unsuspecting viewers. After hours of tussling with Google account management and YouTube support. They finally got their channels back and posted a video the very next day detailing the entire situation.

5. Scaretheater

Scaretheater is an internet mystery YouTube channel with a million subscribers. On June 16, 2022, Scaretheater was hacked. He had his channel changed to something called “Micro Strategy”. It was a bitcoin scam, the hackers ran a live stream with fake recordings of popular financial advisers urging people to invest in the scam.

Saved by his Fans

Luckily Scaretheater fans noticed that the live-stream was fraudulent and they started mass reporting the channel. This brought it to the attention of YouTube who terminated the channel shortly after. This was to prevent the hackers from scamming unsuspecting fans. Luckily a few hours later Scaretheater’s channel was reinstated and back to normal.

6. VeVo

In 2018, Vevo’s official YouTube channel was hacked by a group called Kuroi’sh. The hackers deleted most of the videos from the channel, which is known for hosting music videos from popular artists such as Taylor Swift, Drake, and Ariana Grande. In place of the deleted videos, the hackers posted their own video titled “Free Palestine.” Vevo is a joint venture between Universal Music Group, Sony Music Entertainment, Warner Music Group, and Abu Dhabi Media.

No Individuals were Hacked

The company was founded in 2009 as a way for record labels to distribute their music videos on YouTube. The Vevo hack was a significant incident, as it affected a major company with a wide audience. Following the hack, Vevo issued a statement confirming the incident and assuring users that they were working to resolve the issue. It’s worth noting that the incident did not affect the personal accounts of any individual users, but it did demonstrate the vulnerability of even large corporations to online security breaches.

7. Shane Dawson

Shane Dawson is a YouTuber with over 20 million subscribers. He’s known for his comedic content and has been a YouTuber since 2008. The hack of his accounts in 2019 was a significant incident. The hacker used Shane’s accounts to post racist and offensive tweets, causing outrage among his followers and beyond. Shane responded with an apology for the tweets and condemned the actions of the hacker.

The rise in YouTube hacking is a cause for concern among content creators. The unfortunate experiences of Meghan Rienks, VeVo, and others show that no channel is immune. It’s a stark reminder to take online security seriously, especially for those who rely on YouTube for their livelihoods.

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About the Author

Dan Williams

Source: financequickfix.com

Apache is functioning normally

May 28, 2023 by Brett Tams

A state with rich history and diverse landscapes, North Carolina is home to some of the most charming and lively college towns in the country.

From the bustling streets of Chapel Hill to the serene, tree-lined avenues of Davidson, the best college towns in North Carolina offer a perfect blend of academic opportunities, unique culture and top-notch recreational resources for students and locals alike. Let’s embark on a journey through the Tar Heel State’s top college towns.

A sunny day in Chapel Hill near the UNC campus

We’ll begin our tour in picturesque Chapel Hill, which is often referred to as the ‘Southern Part of Heaven.’ With a blend of historic charm and modern sophistication, this thriving college town is home to the University of North Carolina at Chapel Hill, the nation’s oldest public university. The beautiful campus, with its lush greenery and stately architecture, beckons students and visitors alike to take a leisurely stroll or find a shady spot to soak up the day.

Chapel Hill is also a foodie’s paradise, with an array of dining options that cater to every taste and budget. For a unique Chapel Hill experience, catch a show at the Cat’s Cradle, a legendary music venue that has been hosting big-name acts since the 1970s.

Red brick buildings in downtown Durham near the Duke University campus

Next up on our list of college towns in North Carolina is Durham, a city known for its cutting-edge research and entrepreneurial spirit. Home to Duke University and North Carolina Central University, Durham boasts a thriving community of scholars, artists and innovators.

The city’s revitalized downtown area is packed with a myriad of eclectic shops, galleries and restaurants, making it the perfect place to unwind after a long day of lectures. Be sure to visit the American Tobacco Campus, a historic tobacco factory turned mixed-use development, where you can catch a live performance at the Durham Performing Arts Center or savor a craft beer at one of the many nearby breweries.

Bridge in Greenville, North Carolina just off the East Carolina University campus

If you’re looking for a college town that offers a more laid-back vibe, look no further than Greenville, home to East Carolina University. With its quaint downtown area and abundance of green spaces, Greenville provides a tranquil environment for students to find their passions and focus on their studies.

The town’s vibrant arts scene and bustling Uptown District offer a variety of entertainment options, from gallery crawls to live music performances. Greenville is also known for its commitment to sustainability, with numerous parks and greenways that encourage residents to enjoy the great outdoors when the North Carolina sun is shining.

Boardwalk in Davidson, North Carolina, near the Davidson University campus

Nestled amongst the trees and rolling hills of North Carolina’s Piedmont region, Davidson is home to the prestigious liberal arts college, Davidson College. This idyllic college town is an enchanting setting for both students to learn and locals to live happy lives. With its tree-lined streets, stately brick buildings and welcoming community, it should be no surprise that Davidson claims a spot on this list.

Davidson’s charming downtown area is perfect for an afternoon of fun, with its boutique shops, cozy cafes and inviting restaurants. Don’t miss the opportunity to watch a performance at the intimate Armour Street Theatre or explore the town’s vibrant arts scene at one of the many galleries and studios.

View of UNC Wilmington and the surrounding area from the sky

Our next stop takes us to the coastal city of Wilmington, a bustling college town that seamlessly blends laid-back beach vibes with top-tier academic resources. Home to the University of North Carolina at Wilmington, this picturesque city offers students the best of both worlds, with a thriving downtown area and miles of pristine beaches just minutes away.

Wilmington’s historic riverfront district boasts a ton of shopping, dining and entertainment options, including the popular Riverwalk that lines the scenic Cape Fear River. In your downtime, be sure to visit the iconic USS North Carolina Battleship, which serves as a memorial to the sailors and marines who served during World War II.

Aerial view of Boone, NC near the Appalachian State University campus

As we journey further west, we arrive in Boone, a haven for outdoor enthusiasts thanks to its mountain location and home to Appalachian State University. Surrounded by the breathtaking Blue Ridge Mountains, Boone provides a picturesque setting for college life and a wealth of recreational activities for students and residents alike. From hiking and mountain biking to skiing and snowboarding, the opportunities for adventure are endless.

The town’s vibrant downtown area, with its unique shops, art galleries and farm-to-table restaurants, is the perfect place to go after a day of exploring the great outdoors. Students that stick around for the summer can even enjoy the renowned Appalachian Summer Festival, a celebration of the arts that brings world-class performances and events to the High Country each year.

Street view of downtown Elon, North Carolina, just off the Elon campus

Our next destination is Elon, a quaint college town that exudes a warm, small-town charm. Home to Elon University, this tight-knit community is a serene and inviting environment for students to focus on their studies. With its brick sidewalks, gaslit street lamps and historic architecture, Elon’s picturesque campus has been recognized as one of the most beautiful in the country.

The town’s stellar arts scene is highlighted by the university’s numerous events, including theater productions, concerts and art exhibitions. For a taste of the great outdoors, students can often be found taking a leisurely stroll through the Elon Forest or enjoying a round of golf at the challenging on-campus course.

View of the Raleigh skyline and NC State University at sunset

No tour of college towns in North Carolina would be complete without a visit to Raleigh, the state’s bustling capital city. As the home of North Carolina State University, Meredith College, Shaw University and several other institutions, Raleigh boasts a diverse and thriving academic community.

The city’s downtown area houses a wealth of attractions, making it an ideal destination for students seeking a college experience that is rich in culture. For a taste of Raleigh’s thriving food scene, head to the Warehouse District, where you’ll find a variety of innovative eateries and craft breweries. And if you’re a sports fan, don’t miss the opportunity to catch a game at the PNC Arena or Carter-Finley Stadium, both of which host exciting collegiate and professional events.

Downtown Charlotte near the UNC Charlotte campus

As a bonus, let’s take a quick detour to the vibrant city of Charlotte, home to the University of North Carolina at Charlotte. While Charlotte may not fit the traditional mold of a college town, its dynamic urban setting provides a wealth of opportunities for students and visitors alike.

The city’s thriving creative population is complemented by a burgeoning tech and banking industry, making it an ideal destination for those pursuing careers in arts, technology and finance. Explore the captivating museums in the Uptown area, take in a performance at the Blumenthal Performing Arts Center or cheer on the Carolina Panthers at the Bank of America Stadium.

Now’s the time to settle down in an NC college town

The best college towns in North Carolina offer an impressive array of academic, cultural and recreational opportunities for students and locals alike. From the bustling streets of Chapel Hill to the serene, tree-lined avenues of Davidson, each town boasts its own unique charm. Whether you’re a prospective student, a visiting family member or simply an adventurer seeking new experiences, the Tar Heel State’s most sought-after college towns are sure to leave a lasting impression.

Source: rent.com

Apache is functioning normally

May 27, 2023 by Brett Tams

Looking for the perfect gift for a young person who has everything? Check out our list of 35 cool gifts for kids who have everything! These creative gifts include unique toys and non-toy ideas.From toys to clothing, there's something for everyone on this list.

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Okay, you are reading this because you are overwhelmed with the fact that your kids have everything (or the kids you want to buy gifts for).

That is a tough situation to be in.

In today’s society, kids are quick to get anything and everything they want. There are a million different reasons for that. But, that is the reality our society lives in. In fact, research proves overindulged kids may experience lifelong consequences.

So, what do you get for kids who have everything?

You have to really search and put some thought into finding an awesome gift – even better a gift that is not a toy.

Maybe it is the year to consider a no gift Christmas?

Kids who have everything may seem like they have it all, but there are still gifts that will surprise and delight them.

Let’s dig into these cool gifts for kids who have everything.

What do you get a kid who has everything?

You need an off-the-wall gift that is out of this world.

In order to hit a grand slam, you must really know the kid you are purchasing a gift for.

And honestly, most of the best gifts are gifts of time – specifically experience gift ideas.

What to get a kid that’s not a toy?

If you are looking for non-toy gift ideas for kids, there are many options to choose from. You need to turn your mind off the traditional gift giving and think outside the box.

Great ideas include anything personalized, educational classes, sports gear, or experiences like ziplining.

Whatever you choose, the important thing is that it is something the child will enjoy and cherish.

Lifesaver Ideas to Turn To – The 4 Gift Rule

The 4 Gift Rule is a guideline to help you find the perfect gift for someone. It suggests that you should give something that the person needs, wants, or may not have already. Since we have determined that “something they want” is already taken care of, here are the other 3 gift rules to consider.

Something they need: Think about school, sports, and activities – what is it that they need? Do they play baseball and outgrown their catcher’s gear? Interested in robotics, but don’t have the computer subscriptions to keep learning? There are many unique options available as this is personalized to them.
Something to wear: Even if your child has a closet full of clothes, there are always new fashion trends and styles that come out each season. They may also need new shoes or accessories to go with their outfits.
Something to read: Books make great gifts for kids of all ages. If your child is into sports, you can get them a biography of their favorite player. If they’re into history, look for a book about a topic they’re interested in. Right now, graphic novels are the big hit!

Whether you’re looking for a unique gift for a loved one, or need some helpful ideas for yourself, check out some of these amazing options.

Need Creative Gifts?

Here are the best places to find creative gifts.

If you’re looking for creative gifts, turn to Etsy! It offers a wide selection of handmade and vintage items that will surely provide hours of fun.
Need something quick, check out these Amazon gift guides.

Unique Gift Ideas for Kids and teens – Specifically Gifts for Kids who Have Everything

Picture of teenagers for unique gift ideas for kids and teens.

Everyone loves gifts, and kids are no exception.

However, when you are on the hunt for cool presents to buy your child that they won’t get tired of playing with or using over and over again, you may find yourself coming up short.

This is where we come in!

We have compiled a list of 35 cool gifts for kids who already have everything or are just too young to know what they want.

These gifts are sure to make your shopping experience a breeze and will keep you from having to hear the dreaded question, “What do I get them?”

Subscription

One option for a kid who seems to have everything is to get a subscription to their favorite magazine or TV show. This will keep them entertained and give them something new to look forward to each month or week.

Great options include Amazon kids or Kindle Unlimited.

Subscription Boxes

There are so many reasons why subscription boxes are so much fun. They are a way to try out new things without committing to anything. Plus, they come with a lot of great discounts.

You can also find boxes that are perfect for specific interests.

Kitchen Science Kit

The Kitchen Science Kit is a great gift for kids who love to know how things work and want to learn more. It comes with plenty of pieces that your child needs to start testing their experiments. This kit will help your child learn life skills like patience, organization, and creativity.

Coding Games

There are many great coding games that make excellent gifts for kids who have everything.

One option is the Bitsbox coding subscription box, which is designed for kids ages 6-12 and provides them with a variety of STEM education activities.
Another option is the Booleen Box, which is a computer building game that is perfect for kids who are interested in technology and engineering.

Both of these games are great ways to get kids interested in coding and help them develop important skills for the future.

Time Capsule

Time Capsules are a great way to preserve your memories and experiences. You can store anything in a time capsule, such as photos, articles, and notes.

The recipient can open the capsule in the future and experience the memories stored inside. Get your time capsule container!

Spa Day Kit

If you are looking for a unique and thoughtful gift for a child in your life, look no further than the Spa Day Kit. This kit includes everything a child needs for fun and relaxing spa day, including a bath bomb, nail polish, and hair treatment. The easy-to-use instructions make it perfect for kids of all ages, and the kit makes a great gift for moms on any occasion.

Scientific Explorer – My First Mind Blowing Science Kit

The Scientific Explorer My First Mind Blowing Science Kit is perfect for kids who are just starting to learn about the scientific method. This kit comes with a lot of different materials that help kids learn about science. It’s a great way for kids to learn about science and see how it works.

Customized Journal

Customized journals are a great way to show your personality and interests. You can choose the cover, the paper, and the layout of your journal. You can also add your own photos and drawings.

This will be something special that the child can use to document their thoughts and experiences. Pick your design on the customized journal here.

Customized Planner

There are a lot of different things that you can get a kid that doesn’t want toys. One idea is to give them a customized planner.

This will help them stay organized and be able to keep track of their school work, extracurricular activities, and social events. Design your customized planner here.

Lego Chain Reactions Kit

This is a great gift for kids who like to build and experiment. The portable craft studio is easy to carry and organized by item type and color group.

If your kids seem like they have outgrown Legos, check out Gravitrax! Hours of wonder and fun for preteens and teens!

ABC Mouse

The ABC Mouse is a great gift for kids of all ages.

It features age-appropriate games and activities, as well as family-friendly shows that kids can watch. You’ll have peace of mind knowing that your kids are engaged with awesome content when you give them the ABC Mouse.

Customized Jewelry

One option for a unique gift for a kid who has everything is customized jewelry. You can find stores that will let you personalize items like necklaces, bracelets, and earrings with the child’s name or initials. This makes the gift special and something they can treasure for years to come.

Amazon Glow

Amazon Glow is an interactive entertainment and video-calling system designed for children. A great way to keep in touch with grandparents.

It has a huge 19″ touchscreen that let’s kids be kids, and an interactive video call on a tablet or smartphone. Amazon Glow is designed for children to learn and play with each other, making it the perfect gift for your tech-savvy kid.

The service requires an Amazon Kids+ subscription, which automatically renews every month. For just $4.99 per month, you can give your child access to a wide variety of toys that they are sure to love.

Craft Supplies

When you give someone a craft supplies as a gift, you are giving them the opportunity to create something special. This could be anything from a new piece of jewelry to a painting.

Craft supplies are also a great way to show your appreciation for someone.

Gift Basket

Kids love to get gifts, but it can be hard to come up with something unique and special. If you’re looking for a gift that your child will love, you should consider building a gift basket.

This is a great way to combine different types of gifts, and it’s a fun way to spend some time together.

For example, my daughter got a princess-themed gift basket when she was little.

Non-toy gift idea for kids: Experiences

Picture of a group of teens for non toy gift ideas for kids - experiences.

Experiences make great gifts for kids because they can be educational, fun, and memorable.

Some great ideas for experiences to give as gifts include museum visits, sporting events, Broadway shows, dinner at a fancy restaurant, science exhibits, art exhibits, theme parks, comedy clubs, acting classes, and dance classes.

Master Classes

Master Classes are a great way for kids to learn from the masters.

They provide a unique experience that can help kids learn about anything (almost). Master Classes can be a great gift for kids because they can help them learn new things and improve their skills.

I remember and treasure all of the master classes I took growing up.

Spa Experience for Kids

One way to give the gift of a spa day to kids is to buy some bath bombs, nail polish, and hair treatments. Another way is to set up a little home spa kit.

Finally, you can spend some quality time together and have fun!

Grab all of your spa experience supplies here.

Tickets to a favorite play or concert

One option is to get tickets to the child’s favorite play or concert.

This will give them an experience they will enjoy and remember for a long time.

Every time Imagine Dragons come to our city, I always hear the kids practicing their lyrics.

Tickets to Sporting Events

There are a lot of great sporting events happening throughout the year that your kid would love to attend.

Whether it’s a professional game or a college game, sporting events make for great memories. And tickets aren’t as expensive as you might think!

Head to the Theatre for a Broadway Show

Do you have a family member or friend who loves to go to the theatre?

Perhaps they’ve seen a show before and are always looking for something new to see. Head to the theatre for a Broadway show!

Broadway shows are often full of excitement and suspense. Your loved one will have a memorable time and you’ll get to go out with them!

A day of sleeping in

One idea is to give the child a day of sleeping in especially popular with middle schoolers and high schoolers.

This can be a great gift for kids who seem to have everything and are always on the go. It can also be a chance for parents to spend some time alone or with other siblings.

A day at a zoo

One idea is to give the child a day at the zoo. This can be an all-day experience or simply a visit to see the animals.

It can be fun and educational, and it’s something different that the child may not have done before.

Game Night

Kids love the game night! It’s a great way to bond with friends, have some fun, and learn new things. There is a lot of fun non-toy gifts you can give your kids for a game night that will make it even more enjoyable. Here are a few ideas to get you started:

Set up a board game or card game in your home and let the kids play with you.
If your child is a competitive type, give him or her an incentive to win by offering a small prize for the winner of each game. This will make the game night more exciting.
If you are playing a card game, make sure to have plenty of snacks and drinks on hand in case anyone gets thirsty or hungry while playing the game.

Check out the latest games on the market!

A day of cooking with a celebrity chef

One unique gift you could give to a kid who has everything is a day of cooking with a celebrity chef. The child will get to learn how to cook their favorite dishes from the best in the business, and they will get to eat their creations afterward.

Great for the aspiring chef!

Theme Park Excursion

If you’re looking for a unique gift for a kid who has everything, why not take them on a day trip to a theme park?

A day at a theme park could be a great non-toy gift idea for kids. Kids would love the chance to go on rides, explore the park, and enjoy the company of their friends. .

They’ll get to experience all the fun and excitement of a theme park while spending time with you (and their friends).

Splash at a water park

A day at the water park can be a great gift for kids who have everything. They will enjoy hours of fun in the sun and get to cool off in the water.

Plus, they will be able to play with their friends and make some new ones. Maybe even consider a season pass?

Flight Lessons

If you’re looking for a unique and cool gift for a kid who has everything, how about flying lessons?

There are many different programs that offer this experience, and it is sure to be something the child will never forget. They will get to fly in the cockpit of a private jet or airliner, and may even have the opportunity to take the controls!

They may even make a career choice out of this gift.

A day with a celebrity

Could you imagine if this kid got a chance to hang out with Dude Perfect or Ninja Kidz all day?!?!

They would be on cloud nine.

That would be one unique and cool gift for kids who have everything.

Course at a local college

One idea is to give the child a day of learning by taking him or her to a local college for a course of their choice.

This will allow the child to explore new interests and learn something new in a fun and stimulating environment.

There are plenty of classes to choose from.

Kid’s Choice Dinner

One great gift idea for kids is to give them a Visa Gift card. This way, they can “pay for dinner” and have a fun experience doing it.

Also, you could also give them a gift card to a grocery store so they can cook their own dinner. This would be especially beneficial if you teach them how to cook their own dinner as well.

A day of doing nothing

When it comes to finding a unique and interesting gift for a kid who has everything, sometimes the best option is to give them nothing at all.

A day of doing nothing can be just what they need to relax and enjoy their birthday or special occasion.

Can adults have this one too, please?!

Dinner at a Fancy Restaurant

A dinner at a fancy restaurant can be a great gift for kids.

Kids will love the experience of trying a different cuisine and sitting at a high-end table. Plus, spending a special night out with friends can be a memorable experience.

A day of service at a local charity

One option for a kid who has everything is to give them a day of service at a local charity.

This will allow the child to spend time giving back and helping those in need, which can be just as rewarding as any material gift.

In fact, this is why mission trips are so popular!

Some other fun experience gifts for kids include go-karting, theme parks, and escape rooms. These experiences are exciting and new, and they’re something that the kids can enjoy together.

The Ultimate Gift Idea for Kids: Cold Hard Cash

Picture of cash for the ultimate gift idea for kids.

Giving cash as a gift is a good idea because it is a tangible gift that can be used immediately.

It is also a great way to avoid any possible clash of interests with the child who might receive the gift. Cash is a low-key way to show your appreciation for the child, and it is also a way to avoid feeling obligated to give a gift.

Also, it helps kids to realize the value of money and how to manage it. Those life lessons might be well worth it!

Or a Gift Card

When you don’t know what to get a kid who seemingly has everything, a gift card is always a safe option.

With so many different stores and places to spend them, gift cards let the child choose what they really want. This way, you know they’ll be happy with their present.

Unique Fun Toys or Eyes to See the World?

Picture of gift bags for unique fun toys.

Now, you have a decision to make…

Will you go with: unique fun toys or experiences? The choice is yours.

Just remember… one will leave a longer impact on the recipient than the other. That is why many families are opting for Christmas experiences over traditional gifts.

Which Creative Gifts Will You Get?

Picture of a kid figuring out creative gifts for kids who everything.

If you have a child that seems to have everything, it can be hard to know what to get them for gifts. However, there are still some great options out there.

It is proven that experiences bring more happiness than traditional gifts, so why not lean to towards those ideas.

There’s no need to spend a fortune on a gift for a kid who has everything. With a little bit of creativity, you can find a gift that will be sure to put a smile on everyone’s face.

Review our list and see what takes your fancy!

If you’re looking for a gift for a young person who has everything, our list of 35 cool gifts is sure to have something for everyone. From non-toys to clothing ideas, there’s something for everyone on this list.

So, what are you waiting for? Get shopping!

You probably need inexpensive gifts for the woman who has everything, right?

Need More Christmas Gift ideas?

Source: moneybliss.org

Apache is functioning normally

May 27, 2023 by Brett Tams

Editor’s note: This is a recurring post, regularly updated with new information.

American Express, Capital One, Chase and Citi are four of the major players in the travel credit card space. As such, these issuers offer their own travel portals, where users can earn and redeem their points and miles for flights, hotels, car rentals and more.

These issuers also incentivize their cardholders to use the bank’s own portal, done by offering bonus points on bookings.

For instance, with the Capital One Venture X Rewards Credit Card, you’ll earn 10 miles per dollar on hotel and car rentals and 5 miles per dollar on flights — but only when booked through the Capital One Travel portal. Purchases made outside the portal earn 2 miles per dollar.

Likewise, with the Chase Sapphire Preferred Card, you’ll earn 5 points per dollar on all travel booked through the Ultimate Rewards portal. Otherwise, you earn 2 points per dollar on those travel purchases.

Given the lucrative earning potential that booking through these portals presents, it begs the question: Is it worth your time to use them rather than booking directly?

In this guide, we put these four travel portals to the test when booking flights. We compared price, ease of use, redemption value and other metrics.

Methodology

For this analysis, we limited our research to flights and didn’t include hotels, rental cars or other travel. That’s because we generally recommend that you avoid booking hotels through a third party since you likely won’t receive elite-status benefits (if you have any) or earn elite-qualifying stay credits.

If you’re not concerned with earning hotel elite status or are booking an independent hotel, then booking your stay through a travel portal could be advantageous for you.

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It’s also worth noting that you can get elite-like perks at hotels, even without elite status, by booking with these programs: Amex’s Fine Hotels + Resorts, Amex’s The Hotel Collection, Capital One’s Premier Collection, Chase’s Luxury Hotel & Resort Collection, Citi’s Hotel Collection and Citi’s Luxury Hotel Collection.

With flights, you may be able to “double-dip” your earnings: You can usually earn bonus points on bookings through your card issuer’s portal and earn airline and elite-qualifying miles just as you would by booking directly through the airline. That said, here are the features we examined in each portal:

Results: Do you get comprehensive results when searching through the portal?
Price: How do the prices compare to booking directly with an airline versus through a portal?
Ease of use: Is navigating the portal easy for a user? What unique features or benefits do users get from using this portal?
Redemption value: Is it worth redeeming your points and miles for travel through a portal?

With these four factors in mind, here’s how the individual issuers’ travel portals stack up.

American Express Travel portal

Any American Express card that earns Membership Rewards points grants access to the Amex Travel portal. Depending on your specific card, you may earn bonus points for booking through the portal.

The Platinum Card® from American Express, for instance, earns 5 points per dollar on flights booked directly with airlines or through Amex Travel (on up to $500,000 of these purchases annually, then 1 point per dollar) and 5 points per dollar on prepaid hotel bookings made through Amex Travel. The American Express® Gold Card, meanwhile, earns 3 points per dollar on flights booked directly with airlines or through Amex Travel.

You can search for flights, hotels, flight and hotel packages, rental cars and cruises on the Amex portal.

Related: Everything you need to know about Amex Travel

Capital One travel portal

The Capital One travel portal offers a fresh interface powered by the travel tech app Hopper and is accessible with most credit cards earning Capital One miles or cash back.

Bonus earnings are available, depending on which card you have. Using the Capital One Venture X Rewards Credit Card to book flights in the portal provides 5 miles per dollar; flights booked elsewhere earn 2 miles per dollar.

Currently, you can only book flights, hotels and rental cars through the portal. The portal also houses the Premier Collection for luxury hotels. However, this is only accessible if you have the Venture X or its counterpart, the Capital One Venture X Business card.

The information for the Venture X Business card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Related: How to use the Capital One travel portal — now with more cards and new rewards

Chase Ultimate Rewards travel portal

Chase’s Ultimate Rewards travel portal was powered by Expedia for many years, but the issuer migrated to cxLoyalty in 2021.

You can access the portal with your Ultimate Rewards-earning credit card, including popular options like the Chase Sapphire Reserve, the Chase Sapphire Preferred or the Chase Freedom Unlimited. Cardholders can book flights, hotels, cars, activities and cruises on the Chase travel portal.

Related: Why are some flights more expensive through the Chase travel portal?

Citi travel portal

The overhauled Citi travel portal launched in March 2023 after months of delays. It’s powered by Rocket Travel by Agoda, part of the Booking.com family.

You can access the portal with any credit card earning ThankYou points, and several cards earn bonus points on bookings in the portal. Unfortunately, flights aren’t included in these bonus offerings.

With Citi’s new portal, you can book flights, hotels, rental cars and attractions of numerous types. The portal also offers two hotel programs: Hotel Collection and Luxury Collection.

Related: Ultimate guide to the Citi travel portal

Booking flights

I looked at a variety of round-trip routes with the same dates (roughly six months from now) and gathered the following prices:

Itinerary	Booked directly	Amex Travel	Capital One Travel	Chase travel	Citi Travel
New York (JFK) to Los Angeles (LAX) in economy with Delta Air Lines.	$533.	$541.	$540.	$523.	$540.
Tampa (TPA) to Bozeman (BZN) in economy with American Airlines.	$786.	$786.	$786.	$786.	$786.
Baltimore (BWI) to Las Vegas (LAS) in economy with Delta Air Lines.	$720.	$720.	$720.	$720.	$720.
Miami (MIA) to Boston (BOS) in economy with JetBlue.	$418.	$418.	$338.	$418.	$412.
Chicago (ORD) to Milan (MXP) in economy with United Airlines.	$902.	$902.	$902.	$772.	$732.
Nashville (BNA) to Bogotá, Colombia (BOG) in economy with American Airlines.	$535.	$535.	$535.	$535.	$415.
Toronto (YYZ) to Seoul (ICN) in economy with Air Canada.	$1,079.	$1,952.	$1,880.	$ 2,581.	$1,952.
New York (JFK) to Los Angeles (LAX) in Delta One.	$2,798.	$2,600.	$2,798.	$2,798.	Not available.
Newark (EWR) to London (LHR) in business with British Airways.	$3,272.	$3,272.	$3,300.	$3,300.	$3,300.
San Francisco (SFO) to Singapore (SIN) in business with Singapore Airlines.	$8,351.	$7,285.	$8,521.	$9,386.	$8,521.

Price

All of the travel portals generally fared well when it came to searching economy flights versus booking directly. However, there were a few major caveats worth noting.

Southwest Airlines is not bookable on any of the portals, and tickets for low-cost airlines like Spirit Airlines and Frontier are typically more expensive on the Chase and Capital One travel portals than booking directly. Amex Travel didn’t display any Spirit Airways or Frontier Airlines flights.

When it came to international flights, all of the bank portals struggled at times to match prices or give comparable results versus booking directly. For a deeper dive on some of these routes and flight prices, we did a broader comparison across 20 flights in this guide.

As a general word of advice, domestic flights should yield the same results and price, but it gets tricky when searching for international fares. Your best bet would be to compare the prices and only use a portal when the prices are identical.

Ease of use

The Amex portal is my favorite for a comprehensible search experience, fast load times for results and the simplicity of parsing through the various options.

On the other hand, the Capital One portal offers one of the most visually appealing interfaces, with color-coded dates to indicate the lowest prices in a calendar view — plus price drop protection. However, the Capital One portal did not provide as many options as its competitors on some searches. It also yielded higher prices for international routes, but I’m hopeful that the issuer will continue to make improvements in the future.

Based on millions of data points from Hopper, Capital One is supposed to let you know if this is the best time to book via its price watch prediction feature.

To standardize the offerings across various airlines, Capital One also provides detailed insights into what flyers can expect from their chosen fare class. With the rise of “basic economy” fares, it’s not always clear what amenities are included in your ticket and what you’ll have to pay for as extras.

Capital One does an excellent job of explaining in-depth features such as seat pitch, aircraft type, and food and beverage options on board.

Speaking of basic economy, it’s worth noting Amex Travel rarely (if ever) displays these fares. If you’re looking for basic economy, you should use another portal.

Citi’s new portal does a good job of offering a broad range of results in economy and offering upgrades on the payment page. And being able to book flights plus other travel elements in one transaction is great. However, searching directly for business-class fares is tricky on this portal.

Finally, the Chase portal has seen vast improvements since fully migrating toward its cxLoyalty interface. Previously, when Chase was powered by Expedia, users complained about slow load times and much higher prices than those offered directly by the airlines. Some of those issues seem to have been resolved.

While the Ultimate Rewards portal could use some work in cleaning up the interface, the overall user experience is much better than before. That said, it’s also the portal with the highest frequency of price divergence from booking directly — sometimes higher and sometimes lower.

Redemption value

This is not a criterion we used for evaluating these bank travel portals for this particular article. The value of your points or miles can depend on which particular rewards card you carry. Still, it is worth remembering if you intend to use your credit card’s travel portal to earn or redeem points and miles.

Your credit card points or miles are typically worth 1 cent each for flights in your respective travel portal. That’s the case with Amex cards that earn Membership Rewards points and Capital One credit cards. Even with the Capital One’s premium card (the Venture X), your points are only worth 1 cent each when redeemed for travel through the Capital One portal. The same applies to credit cards earning Citi ThankYou points.

On the other hand, Chase’s credit cardholders are incentivized to use the Ultimate Rewards portal via a higher redemption value. With the Chase Sapphire Reserve, your points are worth 1.5 cents each toward travel bookings, while the Chase Sapphire Preferred and Ink Business Preferred Credit Card fetch 1.25 cents per point in value.

While not as consistent of a program, American Express offers “Insider Fares,” allowing cardholders to redeem their points for a better value than 1 cent apiece on select domestic and international itineraries. However, these can be quite specific.

Select Amex business credit cardholders can also leverage the Pay with Points benefit to get a 25% to 50% points rebate when booking select airfare through Amex Travel — yet another incentive to book through the portal.

Due to all these card-specific circumstances, we didn’t make redemption values a main criterion for judging these portals for booking flights. Rather, we focused on each portal’s user interface and the availability of competitive fares — as those two factors will probably be the determinants as to whether travelers end up using them.

Related: Why I love the Amex Business Platinum’s Pay With Points perk

Bottom line

Credit card issuers have improved their travel portals over the years, but they’re still far from perfect. While there isn’t a clear winner for the best travel portal, each has unique features and incentives for its cardholders.

If you decide to book a flight through your issuer’s travel portal, be sure to compare that price against booking directly with the airline to get the best deal possible. And don’t forget that you may want to book directly anyway to avoid any headaches down the road. If you need to change or cancel your airfare, booking with a third party can complicate matters when plans change.

Additional reporting by Ryan Smith.

Source: thepointsguy.com

Apache is functioning normally

May 27, 2023 by Brett Tams

Alejandro Lazo | CalMatter

In this economy, who has enough money for a down payment on a house?

Despite a projected $25 billion budget deficit, the state of California does. At least for now.

The California Housing Finance Agency is poised to launch a scaled-down version of its new shared equity home loan program on March 27. With the Dream for All program, the state plans to provide $300 million worth of down payments for an estimated 2,300 first-time homebuyers.

The complicated program involves the state paying some or all of the upfront costs for buying a home — the down payment, for instance — in exchange for a share in the home’s value when it is sold, refinanced or transferred.

If the home appreciates in value, those gains to the state would then be used to fund the next borrowers — a little for the seller; a little for the next aspiring buyer.

Everybody wins — as long as prices go up.

The trouble is that home prices have been declining in the state for months, even as higher mortgage interest rates have made monthly mortgage payments more expensive.

A potential economic downturn looms as well, as the Federal Reserve weighs raising borrowing costs even further as soon as today.

And California’s tech industry is taking a beating and laying off workers, contributing to a decline in personal incomes. Income taxes are the state’s biggest revenue source.

Given the uncertainty, Gov. Gavin Newsom in January proposed a significantly smaller version of the 10-year, $10 billion program originally envisioned by Senate President Pro Tem Toni Atkins, a Democrat from San Diego. In his January budget, Newsom proposed spending an initial $300 million on the program, a cut from the $500 million compromise signed last year.

Optimism and expectations

The size and scope of the Dream for All program will likely be a subject of negotiations between Newsom and the overwhelmingly Democratic Legislature this year. The governor is expected to offer a revised state spending plan and a new financial forecast in May. Lawmakers must pass a balanced budget by June 15 in order to get paid.

The proposed cut “will not impact the Administration’s commitment or timeline for implementing the program,” Newsom’s Department of Finance said in January.

In a Feb. 13 email to CalMatters, Christopher Woods, budget director for Atkins, said her office will seek more funding for the program.

“The Governor ‘proposing’ to pull back some funds has very little to do with what will actually happen,” Woods wrote to CalMatters, in response to earlier coverage of the program. “No one should expect the program to be cut, and we should all fully expect additional funds – perhaps as much as $1 billion – to be allocated in the 2023-24 Budget Act.”

“With interest rates rising, the program is needed more than ever … and there are several innovative ways to fund the program,” Woods wrote.

Woods declined to answer follow-up questions for this story.

Atkins, who championed the equity sharing program last year, has said the Dream for All program is a priority. She said in a recent statement she isn’t giving up on getting more money for it.

“Our state is about to launch a program that will help change people’s lives for the better, and make the dream of homeownership a reality,” she said. “While existing funding for the California Dream for All is a great first step, we are working to allocate additional funding in the upcoming state budget — with the ultimate goal of providing $1 billion per year — to help even more families set the foundation for building generational wealth.”

Falling equity

The uncertainty in the economy and housing market has been a subject of discussion at CalHFA for months, as officials and political appointees seek to launch a program meant to take advantage of rising home prices at the very moment home equity is falling.

State officials said buyers positioned to hold onto a property for the long-term are those best suited for the program when home prices are falling.

In a presentation to its board of directors in January, CalHFA officials also said the agency is planning for a program with a potentially “very short life cycle.”

“Having lived the dream of buying a house in Los Angeles in 1989, when the market peaked, and then selling it at a loss almost a decade later, I can appreciate that the market doesn’t always go up,” Jim Cervantes, CalHFA’s chair, said during that Jan. 19 meeting.

“Disclosures, whatever we can do to mitigate — or rather, have prospective buyers understand what they’re getting into — would be extremely valuable, because no one’s a good market timer.”

California home prices, already rising for years, saw big gains during the pandemic, as mortgage interest rates hit historic lows and families sought more space for their remote work set-ups to practice social distancing.

The median price of a previously-owned, single-family home in California, as tracked by the California Association of Realtors, increased 47% from March 2020 to May 2022, when it peaked at $900,170.

That same month the Federal Reserve, in order to tackle inflation, began its most aggressive interest rate hikes in years driving up mortgage costs for consumers.

Since May 2022, the state’s median home price has fallen 16.5% to hit $751,330 in January.

Market change

Despite the decline in home prices, monthly mortgage costs continue to make the state’s housing market more unaffordable than at nearly any point in the last 15 years, particularly for lower- and middle-class families. Only 17% of families in California could afford a median-priced single family home at the end of last year, according to the Realtors group.

Given the rapid market changes, Tiena Johnson Hall, CalHFA’s executive director, called the governor’s reductions in Dream for All funding prudent at CalHFA’s January meeting. “There’s still a lot of room for (home) values to continue to decrease, and that is what we expect to see,” she said.

In February, the state’s nonpartisan legislative analyst projected a revised $25 billion deficit in next year’s state budget. Since then, job growth nationally and in California has remained strong, except for layoffs in the tech sector.

The full details of the Dream for All program — for instance, which lenders will offer the shared equity loans to borrowers — are not yet available from CalHFA.

And loans will not be immediately available to consumers when the program launches this month. Lenders will need a month to six weeks to roll out the loans and begin marketing them to consumers, said Ellen Martin, a CalHFA official tasked with designing the program.

“We do know that there’s a lot of excitement out there,” Martin told CalMatters in a recent interview.

How it will work

Some details have been revealed in CalHFA board meetings, public hearings and a report to the state Legislature. Here are some of the program’s key components.

The loans will not be available for all Californians. Only those who earn 150% or less of the median income of others in their county qualify. Those income limits vary by county, with $300,000 being the cut-off in pricey Santa Clara and San Francisco counties, but $159,000 for many inland counties such as Fresno and Merced.

The loans will cover as much as 20% of a home purchase. Whenever a home is sold, transferred or refinanced, a borrower will owe the state the original amount the state invested, plus a percentage of the home’s increase in value. If the original loan was 20 percent of a home’s value, the seller would owe the state the original loan plus 20 percent of its increased value, though that amount would be capped at 250% of the original loan amount.

A social equity feature of the program will be included for those who earn as much as 80% of the area median income. They will get to keep more of their equity when they sell, refinance or transfer their properties than others with higher incomes. Also about 10% of the initial state funds, or $30 million, will be reserved for those lower-income borrowers.

The loans can be used to fund down payments and closing costs, including interest rate buydowns.

Given the complexity of the program, borrowers will be required to complete a homebuyer education course.

Advocates’ concerns

The complexity of the program has some consumer advocates worried.

Lisa Sitkin, a senior staff attorney with the National Housing Law Project, said it would be wise for the agency to ensure borrowers receive periodic notices about the loan’s atypical details.

“As time goes by, people tend to forget and treat it as a normal loan, and I think it is useful for people planning to be reminded,” said Sitkin, a member of a working group advising CalHFA on the program.

A proposal to sell the loans as mortgage-backed securities also has her worried. California officials are exploring the idea of pooling the shared equity loans into securities and selling them to investors, to help provide additional money for other borrowers.

Many Wall Street financial institutions bundled often poor-quality mortgage loans into securities during real estate’s boom years and sold them to major investors. But during the years of downturn, getting help to homeowners was complicated by the difficulties identifying who exactly owned these loans.

“If they are sold into private, securitized trusts there is a lack of transparency about who owns your debt, and a lack of information about options if there are problems,” Sitkins said. “I really want to be sure that there are guardrails and protections for the borrowers.”

Consumers are cautious

As CalHFA officials were designing the program last year, they held several listening sessions online, taking comments from the public. Jake Lawrence, a 41-year-old cannabis entrepreneur in Willits who also runs a nonprofit, said he liked what he heard.

“I’m very interested. The problem we face is that there’s such a flux in what’s going on,” Lawrence said. “We’re in the middle of a housing market bust, so we’re gonna watch prices tumble for a minute.”

What’s more, one of the county’s biggest industries, the marijuana trade, has been hit hard by declines in cannabis prices. “It’s beyond suffering,” Lawrence said.

Lawrence also wondered how the state will calculate equity if he makes improvements to a home.

Despite his questions, he is considering the idea.

“It doesn’t hurt my feelings to share equity with someone who invests in me,” he said of the state. “And anybody that understands any kind of financial literacy should understand an investor should be able to have their expected ROI (return on investment). For me, I have zero issue with the idea.”

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Apache is functioning normally

May 27, 2023 by Brett Tams

These days I start every conversation with, “Yes, I have used ChatGPT,” just to get that out of the way for the sake of efficiency. The speed of discourse about Generative AI in all aspects of life from personal to business topics has been astounding. And while the use cases for generative AI as a consumer, such as internet searching, customer service and random poem writing for hours (who, me?) have been immediately obvious, specific application of this tech in the mortgage industry has been a more involved discussion.

The thing that separates Generative AI from other types of artificial intelligence is that it can create new types of patterns and data such as narratives, images and even code, based off of existing data used to train the model. The possibilities are endless; however, the risks are also plenty since models that are not properly managed and tested can produce biased or incorrect results.

The highly regulated nature of the mortgage industry, paired with the mandate of ensuring fairness in the process for borrowers, tends to give pause in terms of introducing new tech that is not always easy to explain. Like any other form of automation and modeling, effective controls that curate data input and robust regular testing of output results are essential to this tech being adopted. That being said, there are a couple areas where Generative AI could have a transformative impact, such as increasing underwriting explainability without adding inefficiency, and breaking out of our old patterns of thinking when it comes to solutioning.

The cost to originate a mortgage loan has continued to rise annually. According to the MBA, it cost an IMB $12,450 to originate a loan, on average, in the fourth quarter of 2022. So, the last thing lenders want is to add additional steps or cost to the loan process. However, recent public statements from regulators suggest that demand for visibility and transparency into underwriting decisions is increasing.

Lenders are being pulled between the demand to show their work and the very real need to embrace automated underwriting technology for efficiency, consistency and quality. When reviewing the appraisal specifically, underwriters increasingly have a wealth of data at their fingertips. From GSE collateral underwriting tools to third-party appraisal review solutions to good ol’ Google searches, there is a lot of data an underwriter is considering in their thought space to analyze whether an appraisal is sound in its quality and accuracy.

That thought space, in which we rely on the training and experience of a human to consider (or not consider) available data, is difficult to document efficiently. Understanding what comparables were reviewed but ultimately not included in an appraisal and why could give even more confidence in the soundness of the analysis.

But with generative AI, a quick summary of available data and how it may or may not compare to a subject property could be generated on the fly. In the same way that Microsoft and others are creating “copilots” to automatically create slide presentations and docs, generated content relevant to an underwriting decision is within reach.

Today we trust the credentialing and experience of the person rather than asking them to always document their thought process. But what if we had access to a summary of the subject property’s local market environment on the fly in plain language? Instead of just a black box score, we would have a narrative of the data considered to generate the score.

I’ve been thinking a lot about the creative solutioning process and how that might change with generative AI. As a musician and songwriter, it is a common thing to build new ideas off of existing patterns and previously created content. Pablo Picasso is often quoted as saying, “Good artists borrow; great artists steal.”

On an album I recently released, I used generative AI to create the album cover and some of the loops in the songs. I let the AI produce the raw material but then edited the design and sounds to further refine it and add my own style. It has spawned a whole new vein of inspiration and patterns that I would have never conceived from scratch. Instead of stealing from another artist, in a way I’m stealing from a machine. Oh, and I finished the entire album in weeks, not months (this doesn’t mean it is good, but it was super-efficient and fun).

My point is that I don’t believe AI is going to replace existing jobs on a massive scale, but with a thoughtful approach to keeping humans in the loop we could see productivity and new solutions exponentially increase. With the ability to generate code, AI could help business experts finally create their own apps the way they have always hoped for without the ideas being lost in translation through a requirements process. A seamless path from creativity to execution is now forming. This democratization of tech capabilities could really benefit smaller lenders that don’t have the massive tech organizations of the top 10 lenders.

So while the risks of implementing generative AI without proper controls are real and well documented, the potential of finding solutions that finally reduce the cost of originating a loan is also real. Like any other modeling technique, data quality and curation are absolutely essential.

As an industry we can spend a lot of time being paralyzed by fear of the black box or we can develop standards to test the output of these models and their impact in a way that allows innovation to continue while mitigating risks. Yes, there is a high likelihood that this type of transformative tech will change the way we work. But by embracing the human in the loop approach, new patterns of creativity and innovation can emerge from generated raw materials. Regardless of whether generative AI makes you terrified or excited, the future is going to be anything but boring. And no, I did not use ChatGPT to write this article…maybe the next one.

Source: housingwire.com

Apache is functioning normally

May 26, 2023 by Brett Tams

Yesterday I shared the most important money tip: to gain wealth, you must spend less than you earn. Get Rich Slowly has covered many ways to reduce the spending side of the equation. But how can a person increase the earning side?

Consider an entrepreneurial endeavor. Start a small business based around one of your hobbies. It’s not difficult to earn a couple thousand dollars each year doing something you love in your free time. The key is to not let the hobby-as-business overwhelm you. Keep it fun. Don’t let it become a chore.

With that in mind, here are some real-life examples of hobbies I’ve seen people turn into side-businesses. I know people who:

Repair computers. Are you a tech geek? Start a business providing computer advice for family and friends. Help people set up new computers, add peripherals, remove viruses and spyware, and maintain home networks. Consider offering hour-long training sessions in programs you know well.
Make photographs. Sell your photos! Take a community college class to enhance your skills. Enter photo contests. Display your photos at the county fair. If you make a good image, you can sell it repeatedly for $50, $100, $200. I recently met a woman who now makes her living by selling images through iStockPhoto.
Garden. If you have a huge garden, consider selling produce or flowers. In rural areas, you can run a small road-side stand on weekends selling fresh roses, blueberries, tomatoes, whatever. If you live in the city, let your neighbors know you have fresh produce for sale (or trade).
Make music. Can you play an instrument? Hire yourself out to play at weddings or dinner parties. Start a small group. Play at holiday events (especially Christmas). Get creative: play at street fairs and farmers markets.
Write. Do you write well? Offer your services to friends and family. Edit important letters. Proof papers. Compose pieces on commission. Start a weblog about one of your passions!
Build things. If you have a shop and some skills, teach yourself to build tables or bookshelves or cabinets or chairs. Sell these items on craigslist or to people you know.
Knit. If you’ve been bit by the knitting bug, put that yarn habit to work. Create simple, beautiful hats and scarves. Take commissioned projects. My wife is learning to knit adorable little stuffed animals; she could sell them for $20 a pop.
Repair cars. Offer to perform simple car repairs for friends and family. It’s a win-win situation: you make some extra cash, and they save money. (Just be sure not to get in over your head.)
Cook. Do people rave about your food? Offer to cater events. Provide food for a picnic, for a cocktail party, for a sit-down dinner. Sell cookies and cakes.
Haul things. If you have a van or a large pickup, offer your services for transporting couches and dressers, etc. Hire yourself out to haul barkdust and mulch. Help people move. In March, I met a fellow who advertises on craigslist. Several times a week, as he drives home from work, he hauls something from one part of the city to another for $25. It takes little him little extra time and generates a couple hundred dollars a month. It’s his “mad money”.

The possibilities are endless. The key is to examine your passions and talents to find something for which people would pay you. You won’t get rich quickly through these side businesses (though there’s nothing that says you can’t), but you will boost the earning side of your wealth accumulation.

Everyone has something that they can do well. Discover what it is you can do, and then market your abilities. The best part is: you’ll be making money while simultaneously improving your skills so that you can make even more money in the future!

Addendum: Via e-mail, Melissa A. reminded me of another great use for hobbies: “Hobbies are a good way to make gifts for people cheaper than it costs to buy them too.” This helps with the “spend less” side of the basic equation. My wife has given knitted items as gifts. I sometimes give photographs. One of my favorite birthday gifts ever was a batch of chocolate chip cookies.

Source: getrichslowly.org

38 Best Credit Unions Anyone Can Join

1. Alliant Credit Union

2. Connexus Credit Union

3. Pentagon Federal Credit Union

4. First Tech Federal Credit Union

5. Consumers Credit Union

6. Langley Federal Credit Union

7. Lake Michigan Credit Union

8. Lafayette Federal Credit Union

9. Affinity Plus Federal Credit Union

10. Chevron Credit Union

11. Ascend Credit Union

12. Hope Credit Union

13. Boeing Employees Credit Union

14. Hiway Credit Union

15. GreenState Credit Union

16. Cascade Credit Union

17. Wildfire Credit Union

18. Nextmark Credit Union

19. Technology Credit Union

20. Veridian Credit Union

21. Harborstone Credit Union

22. NASA Federal Credit Union

24. Pen Air Federal Credit Union

25. State Department Federal Credit Union

26. United Nations Federal Credit Union

27. Premier Members Credit Union

28. SRI Federal Credit Union

29. United States Senate Federal Credit Union

30. Wings Financial Credit Union

31. Skyward Credit Union

32. San Diego County Credit Union

33. Bellco Credit Union

34. Bethpage Federal Credit Union

35. First South Financial Credit Union

36. Dow Credit Union

37. Blue Federal Credit Union

38. Digital Federal Credit Union

Bottom Line

Frequently Asked Questions

Can civilians join Navy Federal Credit Union?

Can anyone join American Airlines Credit Union?

1. What have been your 3-5 key observations of the priority sector lending for housing in India, from Consumer, Technology & Lenders perspective?

2. Can you share more about your role in the whole process of priority sector lending for the housing sector? How does it work? How Banks/FIs benefit by working with you?

3. Why do FIs lag in achieving their priority sector targets for the housing sector? What ails them?

4. What are the trends you see in this space over the next 2-3 years? Can technology be the disruptor?

5. How can the priority sector lending be transformed for the housing sector? Do you believe the limit for priority sector lending for the housing sector needs to be revised? If yes, what’s your argument for it, and how do you think it will help India & consumers?

6. Can you share what’s the social impact BASIC has created through priority sector lending for housing in India?

Tell me your story.

How much debt did you have and what was your debt from?

Why did you want to get out of debt fast?

How long did it take you to pay off your debt and reach debt freedom?

How did you manage to get out of debt so fast?

Can you tell me about cash envelopes? How does it work and why do they help?

What is your response to people that say, “You should invest that money instead of paying off the debt, you’ll earn more in the long run…” etc.?

What sacrifices did you have to make in order to become debt free?

Often people paying off loads of debt feel they have to choose between “living life” and making payments. Were there any times during the journey that you chose to “splurge”?

What did you do to stay motivated?

If you were starting back at ground zero, what would you do differently?

What is your very best tip (or two) that you have for someone who wants to reach the same success as you?

What’s your next financial goal?

Where can my readers go to learn more about you?

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