One of the original 13 colonies, Virginia has a rich history from the Jamestown settlement and living history museums like Colonial Williamsburg, to the picturesque Blue Ridge Mountains and the beach towns along the coast. If you’re considering living somewhere in Virginia then chances are you also have a budget you’re hoping to stay under in your home or apartment search. When it comes to buying a home in Virginia the median home sale price is $445,200.
Don’t worry if that price doesn’t fit in your budget – we’ve got options to help you find a home or apartment that does. Redfin has rounded up a list of the 8 most affordable places to live in Virginia – and they all have a median home sale price under $445,200. From Hampton to Richmond, let’s jump in and see what cities are on the list.
#1: Roanoke
Median home price: $201,000 Average sale price per square foot: $136 Average rent for a 1-bedroom apartment: $906 Median household income: $45,664 Nearest major metro: Greensboro, NC (100 miles) Roanoke, VA homes for sale Roanoke, VA apartments for rent
With a median home sale price of $201,000, Roanoke comes in at number one on our list of most affordable places to live in Virginia. There are about 100,000 residents living in this mid-sized city. If you’re considering moving to Roanoke make sure to stop by the Mill Mountain Star at the top of Mill Mountain Park, explore downtown Roanoke, or visit museums like Taubman Museum of Art or Virginia Museum of Transportation.
#2: Hampton
Median home price: $260,000 Average sale price per square foot: $174 Average rent for a 1-bedroom apartment: $1,223 Median household income: $59,380 Nearest major metro: Norfolk (10 miles) Hampton, VA homes for sale Hampton, VA apartments for rent
Coming in as the second best affordable city to live in Virginia is Hampton, part of the Hampton Roads Metropolitan area. When living in this city of 137,100 people, you can take a tour of one of the many museums like the Virginia Air and Space Center, visit the historic Fort Monroe National Monument, or have a beach day at Buckroe Beach.
#3: Portsmouth
Median home price: $264,000 Average sale price per square foot: $172 Average rent for a 1-bedroom apartment: $1,025 Median household income: $53,213 Nearest major metro: Norfolk (3 miles) Portsmouth, VA homes for sale Portsmouth, VA apartments for rent
About 97,900 people reside in Portsmouth. The median home sale price is $264,000 which is about $100K less than the median home sale price in Virginia. If you find yourself moving to the third most affordable city in Virginia, spend an evening outside watching a concert at Atlantic Union Bank Pavilion and have a meal at a waterfront restaurant. Make sure to check out the charming Olde Towne Historic District or discover the exhibits at Portsmouth Naval Shipyard Museum.
#4: Lynchburg
Median home price: $276,900 Average sale price per square foot: $167 Average rent for a 1-bedroom apartment: $972 Median household income: $59,380 Nearest major metro: Roanoke (50 miles) Lynchburg, VA homes for sale Lynchburg, VA apartments for rent
Only slightly more expensive than Portsmouth is Lynchburg, the next city on our list. With roughly 79,000 residents in Lynchburg, make sure to visit Riverside Park along the James River and explore the Percival’s Island Natural Area if you’re looking to spend some time outside. You can also check out downtown Lynchburg and the nearby Diamond Hill Historic District and Federal Hill Historic District.
#5: Newport News
Median home price: $284,000 Average sale price per square foot: $170 Average rent for a 1-bedroom apartment: $1,239 Median household income: $59,380 Nearest major metro: Norfolk (20 miles) Newport News, VA homes for sale Newport News, VA apartments for rent
Another great area to add to your list is Newport News, located just north of Hampton. With 186,200 residents, moving to this affordable city gives you the perks of city-life. Living in Newport News, you can check out one of the riverfront parks like Victory Landing Park, Huntington Park, or Riverview Farm Park, explore Newport News Park, or visit one of the museums like the Virginia Living Museum or the Virginia War Museum.
#6: Harrisonburg
Median home price: $327,500 Average sale price per square foot: $179 Average rent for a 1-bedroom apartment: $758 Median household income: $49,117 Nearest major metro: Charlottesville (55 miles) Harrisonburg, VA homes for sale Harrisonburg, VA apartments for rent
Another well-known city is Harrisonburg, where you’ll find the home prices are about $100K less than the state’s average. With roughly 51,800 people calling Harrisonburg home, it’s a great area to consider renting or buying a home this year. Whether you explore the greenery and flowers at Edith J. Carrier Arboretum and Botanical Gardens, check out Hillandale Park, and visit downtown Harrisonburg where you’ll find Saturday Harrisonburg Farmers Market, there are many cool things to do and see in this city.
#7: Suffolk
Median home price: $366,000 Average sale price per square foot: $182 Average rent for a 1-bedroom apartment: $1,075 Median household income: $81,883 Nearest major metro: Norfolk (20 miles) Suffolk, VA homes for sale Suffolk, VA apartments for rent
Seventh on our list of affordable places to live in Virginia is Suffolk. With a population of nearly 94,300, living in Suffolk is a great option for those looking for a mid-sized city to live in. Don’t miss out on taking a boat out on the water or walking through Bennett’s Creek Park, enjoying the river views at Sleepy Hole Park, or checking out the art galleries, restaurants, and museums in the heart of Suffolk.
#8: Richmond
Median home price: $378,000 Average sale price per square foot: $233 Average rent for a 1-bedroom apartment: $1,497 Median household income: $51,421 Richmond, VA homes for sale Richmond, VA apartments for rent
Last but not least on our list of most affordable places to live in Virginia is Richmond. Nearly 226,600 residents call this affordable city home. Be sure to visit the historic sites, neighborhoods, and museums like the Maymont mansion, the American Civil War Museum, and Byrd Park Court Historic District. You can also check out Belle Isle, stop by the Virginia State Capitol building, and see a concert at The National once living in Richmond.
Methodology: All cities must have over 50,000 residents per the US Census and have a median home sale price under the average median home sale price in Virginia. Median home sale price and median sale price per square foot from the Redfin Data Center during August 2023. Average rental data from Rent.com August 2023. Population and median household income data sourced from the United States Census Bureau.
“The consensus among the Executive Committee is we need to rebuild trust with staff and members with meaningful change. We are bringing in third party experts to carefully and comprehensively look at what we’re doing now for what works, what needs to be changed and what is missing. We also will support and empower staff in their similar efforts. The Executive Committee agreed we have a shared purpose and are united in support of our staff and that includes Bob,” she concluded.
Ahead of Thursday’s executive committee meeting, rumors were swirling that Goldberg and other executives could find themselves out of a job, but that is clearly not the direction NAR has decided to take, despite many members calling for the resignation of Goldberg on message boards and social media.
On Monday, prior to Parcell’s resignation, a Change.org petition was started calling for his dismissal. By Wednesday, this effort had morphed into the NAR Accountability Project. One of the first demands of the project was that Goldberg and others within NAR’s executive committee retire early. Goldberg is currently set to retire at the end of 2024, closing out his 30-year career at the trade group.
A rough week for NAR
It has been a rough week for the 1.5 million member trade organization. In the Times exposé, published last Saturday, Parcell, who had served as NAR president since November 2022, was called out for alleged sexual harassment by 16 of the more than two dozen current and former NAR employees interviewed by the Times. Parcell ultimately resigned from his position Monday evening.
Parcell has defended himself over the allegations in the NYT story. “I am deeply troubled by those looking to tarnish my character and mischaracterize my well-intended actions,” Parcell wrote in a letter to NAR’s Executive Committee and Board of Directors, first published by RISMedia. “This resignation signifies that I will put the organization’s needs first to move forward above my own personal needs to stay in this position.”
Parcell also wrote that the allegations were false, and claimed he was the victim of character assassination.
In the Times investigation, three women described a pattern of inappropriate behavior by Parcell, who runs the Kenny Parcell Team at Equity Realty in Spanish Forks, Utah.
One woman reported that Parcell placed his hands down his pants in front of her, while another woman said that she received unsolicited lewd photos and texts from him, including a picture of his crotch. Parcell denied that he had done anything inappropriate, saying the picture in question was of a promotional belt buckle and he was asking for input on the design.
A third woman, Janelle Brevard, who filed a lawsuit in the summer, disclosed a consensual relationship with Parcell that lasted months and ended with the NAR president allegedly retaliating against her.
Brevard settled a lawsuit with NAR that included a $107,000 severance payment and a nondisclosure agreement, the Times reported. According to Bruce Fox, a lawyer who began representing Brevard in August, his client decided to settle the case after “feeling intimidated by such a powerful adversary.”
Another woman, Amy Swida, a director of business meetings and events at the organization, filed an internal complaint of sexual harassment or gender discrimination by Parcell. Swida alleged that he was cruel and condescending to her after she became pregnant. She worried about being cut off from future opportunities.
“I’m scared every day coming to work,” she told the Times. NAR said Swida’s complaint was documented, and she was promoted several months later. Parcell also denied any wrongdoing.
“There is the sexual harassment, and then woven into it, this culture of fear,” Stephanie Quinn, the organization’s former director of business meetings and events told the Times. “His behavior is predatory.”
In a statement on Tuesday, Kasper said that it was important to NAR that they “take this moment to learn and focus on building a culture of camaraderie where we can do the good work we are all so passionate about.”
“This is a really hard time for our association. But I know this is an opportunity to really listen and grow together,” Kasper added. “As your president, I take the responsibility of rebuilding very seriously. Know I’m here for you, as is the entire leadership team, and we will get through this together.”
If you’re planning to buy a higher-priced home, you may be looking to finance your purchase with a jumbo loan. And you’re probably also wondering about the difference between a jumbo and a conventional loan.
A jumbo loan is necessary to purchase a home where the loan amount is above the conforming loan limit values set by the Federal Housing Finance Agency (FHFA). Conforming loan limits change every year. For 2023, the limit for a single-unit property is $726,200 for most counties across the U.S. In high-cost areas, this amount increases to $1,089,300.
If you’re buying a home below this amount, you can finance with a traditional, conventional, conforming mortgage, or perhaps through one of several first-time home buyer programs. But if you need a mortgage that goes above the conforming loan limit, you’re going to be looking at a jumbo loan, so it’s time to get familiar with how to qualify and how the costs compare to other loans.
First-time homebuyers can prequalify for a SoFi mortgage loan, with as little as 3% down.
Recommended: The Cost of Living by State
What’s the Difference Between Jumbo and Conventional Loans?
Here’s a surprise: There isn’t really a difference between a jumbo and a conventional loan. Jumbo loans are conventional. “Conventional” simply means that a loan isn’t backed by a specific government agency such as the Federal Housing Administration (FHA), United States Department of Agriculture (USDA), or U.S. Department of Veterans Affairs (VA).
Many people get tangled up in the terminology. While jumbo loans are conventional, they are not “conforming.” Though the terms conventional and conforming are often used interchangeably (and mistakenly), a conforming loan is one that falls within the FHFA limits, meaning the lender can sell it to Fannie Mae and Freddie Mac to increase its liquidity. (Again, in 2023, the amount is $726,200 for most areas in the U.S., but can go up to $1,089,300 for high cost of living areas. If you’re wondering about your specific region, have a look at the conforming loan levels by state.)
💡 Quick Tip: One answer to rising house prices is a jumbo loan. Apply for a jumbo loan online with SoFi, and you could finance up to $2.5 million with as little as 10% down. Get preapproved and you’ll be prepared to compete in a hot market.
A jumbo loan exceeds these limits and is, thus, non-conforming. So when you’re comparing jumbo loans against other loans, you’re really comparing non-conforming loans against conforming loans. Other differences that affect borrowers are summarized in the table below:
Conforming Loan
Jumbo Non-conforming Loan
Loan amount
Below $726,200 for most areas, $1,089,300 for high-cost areas
Above $726,200 for most areas, above $1,089,300 for high-cost areas
Loan type
Fixed or variable rate
Fixed or variable rate
Down payment
Can be as low as 3%
Usually 10% or more
Credit score
660+
700+
Income requirements
Lower income requirements
Higher income requirements. For example, a payment on a $726,200 mortgage at 6.7% interest would be $4,969. In order for your payment to not exceed 28% of your monthly income (the margin of safety, you would need to make $17,746 per month or $212,952 per year.
Cash reserves or assets
Not required
6 to 12 months may be needed
How the loan is backed
Backed by Fannie Mae and Freddie Mac
Not backed by Fannie Mae or Freddie Mac
How to Qualify for a Jumbo Loan
Requirements for jumbo loans are more stringent than those for other types of loans. Because these types of mortgages can’t be sold to Fannie Mae or Freddie Mac, the lender takes on more risk should the borrower default.
These requirements include:
• Debt-to-income (DTI) ratio. You need plenty of income to qualify for a jumbo loan. Qualified mortgages require a DTI of 43% or lower.
• High credit score. Lenders want to be sure you’ll repay the loan, especially since it’s a much larger amount. A credit score of 700 or above is recommended.
• Assets. Lenders look for cash that can be used to pay the mortgage. To be safe, you may want to put aside enough money to cover the mortgage for 6 to 12 months.
What to Know About Jumbo Loan Mortgage Rates
Prospective jumbo loan borrowers often wonder, “Are jumbo loan rates higher than other loans?” Jumbo conventional loans don’t automatically have higher interest rates and can be competitive with conforming conventional loan interest rates. They fluctuate with market conditions. Sometimes, they’re even lower than conventional loan interest rates.
You may be able to check your jumbo loan rate with your lender before submitting a full application.
Jumbo Loan Closing Costs
With a larger loan amount, you can also expect jumbo loan closing costs to be higher. While many closing costs are fixed, there are others that are larger due to percentage-based compensation closing costs.
Should I Choose a Jumbo Mortgage?
If you have the option to choose between a jumbo loan vs. a conforming loan, (such as when you have enough money to reduce the principal loan amount so that it qualifies as a conforming loan), you’ll want to ask yourself if it’s worth it to put down the extra money to qualify for a conforming conventional loan. There are some specific scenarios where a jumbo loan vs. a conforming loan makes sense.
💡 Quick Tip: To see a house in person, particularly in a tight or expensive market, you may need to show the real estate agent proof that you’re preapproved for a mortgage. SoFi’s online application makes the process simple.
When to Choose a Jumbo Mortgage
Borrowers who should consider jumbo mortgages:
• If you’re looking for a luxury home
• If you’re buying a vacation home
• If you live in a high-cost area
• If you have a great credit score
• If you have a strong DTI ratio
• If you have plenty of income
When to Choose a Conventional Mortgage
Borrowers who should consider conventional mortgages:
• If you have moderate income
• If you’re looking for a moderately priced home
• If the mortgage amount is below the conforming loan limits
• If you need a down payment lower than 10%
• If your cash reserves after your down payment will be limited
If you’re close to the conforming loan limits, you may also want to consider a piggyback mortgage. If you’re able to obtain a piggyback loan, you may be able to buy your home with a conventional, conforming mortgage instead of a jumbo loan.
How it works: A piggyback loan allows you to take a second loan to “piggyback” off the first mortgage with the purpose of lending you enough money to avoid a jumbo mortgage or the PMI that comes with a down payment less than 20%. It’s essentially a second mortgage, and you’ll be making a second payment to cover it.
The Takeaway
When it comes to whether or not to choose a jumbo loan, the decision may be made for you based on the price of the home you want to buy. Mortgages above the conforming loan limit need jumbo loan financing. If you want a conforming, conventional loan, you’ll need to get a mortgage below $726,200 for most areas in the U.S. and $1,089,300 for high cost of living areas.
When you’re ready to take the next step, consider what SoFi Home Loans have to offer. Jumbo loans are offered with competitive interest rates, no private mortgage insurance, and down payments as low as 10%.
SoFi Mortgage Loans: We make the home loan process smart and simple.
FAQ
Are jumbo rates higher than a conventional mortgage?
Jumbo rates fluctuate with market conditions. They may be on par with rates of loans that fall within the limits for conforming loans set by the Federal Housing Finance Agency (so-called conforming loans). Sometimes, they’re even lower.
What is the downside of a jumbo mortgage?
Possible downsides of a jumbo mortgage include requirements for a higher down payment, higher credit score, more cash reserves, and a higher monthly payment because of the higher home price.
Do jumbo loans have PMI?
Private mortgage insurance is not always required on jumbo loans. Whether or not PMI is needed will depend on your lender and the size of your down payment.
Photo credit: iStock/courtneyk
SoFi Mortgages Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Inside: Looking for information on what a typical Christmas bonus in the US is? This guide will help you calculate how much you can expect and what to do with it.
Are you waiting eagerly for that year-end surprise called the Christmas bonus? Like Clark in National Lampoon’s Christmas Vacation?
Or maybe you’re an employer wondering about giving out festive bonuses?
This guide is a jingle bell away with everything you need to know about Christmas bonuses in the United States.
You’ll discover how these additional pays work, what the typical bonus amounts are, tax implications, the benefits of giving a bonus, and wisely spending your bonus. In other words, it decodes everything from the employer’s perspective, right to how it impacts an employee’s pocket and spending decisions.
So, buckle up – you’re about to become a little richer in knowledge. Stay tuned!
What is a typical Christmas bonus?
A Christmas bonus, often referred to as a “13-month-salary,” is a special gift you might receive from your employer at the end of the year.
It depends largely on your company’s resources and financial standing, meaning not everyone will get one.
However, if you’re lucky, you might expect a bonus ranging from 2% to 5% of that, discretionary to your employer.
Thus, the average Christmas bonus would be you could be looking at an additional payout of around $1144-2860, assuming an average income of $57,200.
Does everybody get a Christmas bonus?
Not all employees in the US typically receive a Christmas bonus.
The giving of bonuses varies between companies and roles within those companies.
Personally, I have only had one company that gave out Christmas bonuses. Most companies tend to give their annual year-end bonuses, which may be based on factors like performance or tenure, during the first quarter of the new year.
While a Christmas bonus would be nice as it often serves as an appreciation gesture for hard work throughout the year.
Understanding the concept of Christmas Bonus
A Christmas Bonus is essentially a little financial gift from your employer during the holiday season. Think of it as an extra dollop of icing on your annual salary cake.
It’s typically a percentage of your salary and serves to show appreciation for your hard work throughout the year.
For instance:
Let’s say you earn $80000 a year and your boss awards a Christmas bonus of 5% would then receive an extra $4000 just in time for the festivities.
Your company elects to give all employees a flat $1000 Christmas bonus regardless of seniority.
Note that a Christmas bonus isn’t legally required and varies greatly between businesses.
History of Christmas Bonuses
Woolworth’s birthed this tradition back in 1899, offering a cash bonus of $5 for each year of service with a limit of $25.
In Woolworth’s early years, they established a pattern of rewarding their employees with a generous Christmas bonus.
This practice was seen as an annual tradition and was appreciated by their staff, instilling a sense of loyalty within the workforce.
Over time, Christmas bonuses have evolved not just in amount but in form as well. Besides cash, you could also receive gifts or even lavish holiday parties.
Despite the more modern trend of diminishing Christmas bonuses, this part of Woolworth’s history highlights the positive potential of such incentives.
Factors influencing the amount of Christmas Bonus
Considering factors on the Christmas bonus is crucial because it ensures fair distribution, tailored to individual employees’ performance, length of service, or their specific needs.
We all know that bonuses adequately demonstrate appreciation and recognize the hard work of their employees, increasing their job satisfaction and driving productivity.
So, let’s look into whether or not a Christmas bonus is viable for you or your company.
1. Company policy on Christmas Bonus
A company’s policy about Christmas bonuses is typically laid out in the employee handbook and company policies.
Policies may stipulate that Christmas bonuses are issued under certain circumstances, like when the employee has met specified targets or when the company has performed exceptionally well during the year.
Also, the board of directors may elect to give out one-time Christmas bonuses.
However, if these bonuses are not incorporated into the employee’s employment contract, they are typically subject to the employer’s discretion. Employers must take extra caution to ensure that these bonuses are presented as discretionary and not part of a contractual agreement.
Remember, these factors may vary from one company to another. Always refer to your employer’s specific policies and handbooks for accurate information.
2. Amount of Salary
Your annual gross income might influence the amount of your Christmas bonus, as some employers factor in their employees’ base pay when determining bonus amounts.
However, not all organizations adopt this practice, with some opting for a fixed, equal distribution amongst all staff members regardless of their earnings.
Therefore, depending on your contractual agreement and your employer’s policies, your salary could influence your bonus, but this isn’t a universal rule.
3. Type of Bonus
The types of bonuses vary greatly as companies have the discretion to decide the nature of the bonus, with the decision often driven by the organization’s performance, the individual’s job role, and the overall economic conditions.
They can be incentive-based, linked to performance targets, holiday-exclusive like Christmas bonuses, or tagged to specific business milestones, leading to significant variability.
Here are different types of bonuses you should know about:
Discretionary bonuses: These are given at your employer’s will. They might consider factors like company performance or your personal performance reviews. However, there’s no guarantee you’ll receive one.
Non-discretionary bonuses: These are part of your employment contract. As long as you meet certain criteria, you’ll receive this bonus on top of your salary during the Christmas season.
Non-holiday bonuses: Given outside of the holiday season, these can be extra pay or an item like a company car.
Remember, your bonus type dictates how much you could get for Christmas. Be sure to check your contract!
4. Company Culture
Company culture significantly affects bonuses as it underpins how employees perceive their value and recognition within the organization.
If the culture fosters transparency, fairness, and goal-oriented behaviors, bonuses can effectively serve as an incentive and boost morale. Statistics show that employee loyalty increases when they feel appreciated, which can often be demonstrated through financial bonuses.
Moreover, a culture encouraging open communication assures employees of fair dealing when it comes to awarding bonuses.
Hence, bonuses, when tied to clear goals, become more than just monetary rewards, ensuring employees understand their role in the company’s success.
5. Recipients of the Bonus
In the US, Christmas bonuses are usually gifted to all employees, irrespective of their role or position.
Some of the roles that may receive a Christmas bonus include:
Full-time employees: Usually part of the main workforce, these individuals are often at the receiving end of holiday bonuses.
Part-time employees: Even though they may work fewer hours, many companies consider them for bonuses.
Temporary workers: Though their roles are for a limited time, they are generally excluded as part of the company’s bonus scheme.
Contracted employees: If their contract includes a clause for a holiday bonus, they are quite likely to receive a Christmas bonus. If it does not, they will not receive one.
Remember, the goal is inclusivity, a policy aimed at making every employee feel rewarded and appreciated during the festive season.
6. Holiday Season
Christmas bonuses are commonly offered by employers during the holiday season in the United States. This bonus is seen as a way to show appreciation and respect to employees, which can help to mitigate feelings of burnout.
Companies may elect to give bonuses at other times of the year to motivate their employees and boost their job performance. These bonuses can incentivize individuals to achieve specific company goals, with the promise of additional monetary compensation driving their hard work.
Aside from motivation, off-season bonuses also serve as a token of appreciation, illustrating a company’s recognition and value of their employees’ efforts.
It’s worth noting that a bonus doesn’t necessarily have to be monetary. Examples can also include extra vacation days or other perks.
7. Amount Given to Employees
A Christmas bonus is an extra payment given to employees during the holiday season as a gesture of gratitude for their commitment and hard work.
Factors influencing the Christmas bonus amount include:
Length of service: Employees who’ve been with the company longer might receive a higher bonus. For instance, an employee with a decade of service might receive $1,000 at a rate of $100 per annum.
Based on Salary: Many companies may opt to give a flat percentage related to the salary of their employees.
Flat Amount: Others may give the same amount to all employees across the company.
8. Company’s Financial Resources & Performance
A stronger performing company is more likely to give more bonuses as it typically correlates with higher profits, enabling them to be more generous with employee rewards.
On a company level, if overall performance benchmarks are hit, Christmas bonuses may increase across the board.
In fact, the incentive of bonuses can create a highly driven workforce that pushes towards achieving and even exceeding business goals. Furthermore, companies that distribute bonuses, particularly holiday bonuses, can significantly boost employee morale, fostering both loyalty and a positive company culture.
How to Calculate Your Potential Christmas Bonus
Calculating your Christmas bonus can often seem nebulous, leaving many uncertain about the amount they should expect.
The elusive nature of the Christmas bonus can largely be attributed to the fact that unlike salary, it isn’t typically fixed and may vary based on several factors such as an employee’s performance, the length of their service, or the financial health of the organization.
Despite this, there are a few pointers that can shed light on how to calculate this anticipated festive season reward.
Step 1: Check if you are Eligible for a Christmas bonus
Figuring out your potential Christmas bonus firstly entails a careful examination of the terms of your employment contract, alongside other supporting documentation such as your employee handbook or job offer letters.
These documents accurately establish the contractual relationship between you and your employer and often contain crucial clues about bonus calculations.
For instance, if your contract states that you are entitled to an equivalent of one week’s salary as a Christmas bonus, then you can confidently expect that amount.
Keep in mind the discretion of the employer in case of confusion. Some bonuses might not be contractual but discretionary. Consult your HR department for clarification if needed.
Step 2: Calculate your percentage of the total bonus amount
To calculate your bonus based on your salary, you need to know the exact percentage your employer uses, which usually ranges from 2-5% of your annual earnings.
Multiply your annual salary by the bonus percentage to determine your possible holiday bonus.
For instance, if you earn a yearly salary of $100,000 and your employer gives a 2% bonus, you’ll receive a $2,000 bonus.
Step 3: Is my Christmas Bonus Taxable?
So, if you’re anticipating a hefty holiday bonus, remember, it might be subject to taxes.
Bonuses are often considered supplemental income.
As such, the Internal Revenue Service (IRS) requires a 22% federal income tax on this income, which can reduce your bonus significantly.
State laws also have a part to play. Your holiday bonus is taxed according to your state tax rate, which is another cut from your bonus.
For example, your bonus amount is $5000 after federal taxes of $1100 and state 4% taxes of $200 are deducted, your take-home bonus is $3700.
How to Spend Your Holiday Bonus
The anticipation of receiving that extra lump sum has many employees daydreaming about that eye-catching new car, an extravagantly relaxing vacation, or perhaps the latest tech gadget.
Although it’s tempting to indulge in the pleasure of immediate gratification, there are more finance-savvy alternatives to consider for the effective utilization of your annual bonus.
1. Invest your Christmas Bonus
Getting that skip in your heartbeat when you receive your Christmas bonus is a feeling like no other.
However, the real magic happens when you decide to invest this bonus, making it grow over time instead of spending it all at once.
Here are the top four ways to invest your Christmas bonus:
Wealth Creation: When you invest your bonus, you’re setting yourself up for future wealth. Learn how to invest 10k.
Earn Additional Income: Use your bonus as a kick-start to a side hustle. Many Americans already secure supplemental income this way. In fact, many people are interested in how to make money online for beginners.
Professional Growth: Investing your bonus into professional development is another smart move. Enrolling in online courses that build your technical skills or lead to certifications can enhance your earning potential. Learn to invest 100 to make 1000 a day.
Financial Security: Finally, investing your bonus helps to secure your financial future. Whether it’s putting money into retirement funds or investing in a high-yield savings account, every bit helps set you up for stability and freedom. This sets you up to become financially independent.
Your Christmas bonus could be the first step towards a future of financial growth and security.
2. Consider your financial needs for the coming year
Before you rush to spend your holiday bonus, consider your financial needs for the coming year.
Start by:
Assessing your monthly expenses. How much do you need for essentials like housing, utilities, and food? Compare with the ideal household budget percentages.
Evaluating your emergency fund. Remember, experts recommend at least $1000 in an emergency fund. Plus having three to six months’ worth of expenses stored away in a rainy day fund.
Big expenses coming your way: Do you have any costly expenses like home repairs or car replacement in your future?
You may want to set aside money for those future needs, so you will be financially stable when they happen.
3. Pay Off Bills
Don’t run to the stores before analyzing your debt.
If you have high-interest loans or credit card debt, prioritize paying these down. Our expert tip at Money Bliss is to tackle the highest interest debt first.
Use your bonus to pay off debts: Since a bonus is usually an unexpected sum of money not factored into your annual budget or salary, you can make significant headway in paying off your debts, particularly those with high-interest rates.
Save on interest charges by reducing debt: The bonus can help reduce your debt balance, leading to less interest accruing over time. This move could save you hundreds, even thousands, over the long term.
Consider debt management apps: Apps like UndebtIt help you find a debt free date. Platforms like Tally† can simplify your debt payoff journey with automated payments using a lower-interest line of credit.
Reconsider splurging your holiday bonus: Rather than spending it all on that coveted item or trip, you might want to consider other financially beneficial options.
4. Buy Christmas Gifts
Utilizing your holiday bonus wisely to purchase Christmas gifts can be a smart and rewarding way to use your end-of-year windfall.
Instead of splurging on high-cost items, consider thinking through your holiday gift list and budgeting accordingly.
Bear in mind that enjoying the holiday season doesn’t have to break the bank; as Christmas on a budget is possible.
Don’t forget to spoil yourself with a gift every now and then. You’ve worked hard for this bonus and deserve a treat too.
5. Splurge on Fun Things
It’s absolutely okay to treat yourself with a holiday bonus – after all, you’ve earned it! Using it wisely can add a dash of fun and pure enjoyment to your life.
Now, what do I want for Christmas?
Here are a few fun ways to splurge your holiday bonus:
Dream vacation: The bonus could be your ticket to the vacation you’ve been fantasizing about. Plan carefully to make the most out of it.
Invest in hobby: Whether it’s photography, painting, or gardening, investing in a hobby can prove to be quite rewarding.
Spoil yourself: Get that TV you’ve been eyeing or make a down payment for that new car you fancy.
Remember, pleasure is a great aspect of well-being. So, it’s great to treat yourself once in a while. Just balance it with other financial responsibilities.
6. Invest in Long-Term Goals
Ditch the instant gratification of spending your holiday bonus all at once. Instead, consider investing it towards long-term goals for an even greater payoff.
Here are some easy steps to set you on the right path:
Identify your long-term financial goals. Be it a dream home, kids’ education, or retirement, a clear goal will help you stay motivated.
Assess your current financial situation to gauge how much of the bonus you can invest.
Choose the right investment vehicle. Stocks, bonds, or real estate can be profitable, depending on your risk appetite and time horizon.
Remember, spending wisely today makes for a secure tomorrow.
7. Give Back to the Community
Giving back to your community during the holiday season is a fantastic way to share your fortunes. Not only does it bring joy to those in need, it fosters appreciation, empathy, and understanding.
Here are some thoughtful ways to use your holiday bonus:
Donate to a Local Charity: Identify a local charity that resonates with your values. Every donation counts and your contribution could make a substantial impact.
Sponsor a Family’s Holiday: Many organizations connect sponsors with families in need. Your bonus could help provide them with essential groceries, clothes, toys, and a memorable holiday experience.
Contribute to a Fundraiser: Participate in your community or workplace fundraisers. Your financial support could contribute towards a noble cause, be it medical aid, education, or relief work.
Volunteer Your Time and Skills: Although not a direct use of your bonus, volunteering can be another way to give back. Maybe your bonus might allow you some additional free time to offer.
Remember, volunteering often reflects individual happiness and improves overall well-being.
Do You Expect the Average Christmas Bonus?
Remember, Christmas bonuses can be diversified: from additional checks or sums of money to extra vacation days or tangible gifts.
Everyone always wants a Christmas bonus! So now, you can determine if yours is above or below the average Christmas Bonus!
Based on research, less than a quarter of employers offer a performance-based holiday bonus, so if you’re fortunate enough to receive one, consider investing it to reap greater returns in the future.
The best decision depends on your unique financial situation, so use the above tips to make a smart choice with your bonus money.
Know someone else that needs this, too? Then, please share!!
According to iPropertyManagement, just over one-third of American households are rental units, such as apartments, townhomes and even single-family residences. That means that of the approximately 332 million people residing in the United States, over 110 million rent.
With that many would-be tenants searching for a new rental unit at any given time, criminals will be out there looking for vulnerable people they can con out of their hard-earned money. However, there are some tell-tale signs that someone is trying to scam you in your apartment search.
Here’s what you need to look for so you don’t fall victim to common rental scams.
1. Don’t fall for misleading advertisements
Landlords and property managers often reach a potential renter by posting advertisements about their available units in newspapers, magazines and on a listing website. That translates into an unthinkable number of rental listings highlighting what’s on the market at any given time, not to mention all vacation rental listings out there.
Or, at least, what’s supposedly available. Rental listing scams are rampant, so it’s imperative to know how to differentiate between a legitimate advertisement and one full of lies.
Don’t be fooled by beautiful pictures advertising an apartment that looks perfect before doing your due diligence on all property matches. When searching for the next place to call your own, keep these suggestions in mind to avoid common rental scams.
2. Review apartment rental listings carefully
When reading advertisements, pay attention to the way it’s written. Skip listings with misspelled words, improper abbreviations or incomplete information. Details are important, so be extra wary if an apartment ad has errors, blank spaces or confusing terms.
Those kinds of no-nos are a potential clue the person posting the ad is not advertising a real place for rent. Or, maybe they aren’t really a legitimate landlord.
3. Is a month’s rent too low?
Another common rental scam is creating an environment that’s too good. For example, is the monthly rent unexpectedly low for what’s being promised? If the average cost to live in your dream neighborhood is $2,000 a month for a one-bedroom, be wary of apartments being advertised in the same vicinity for far less.
Seeing is believing, so be sure to tour the rental property before signing a lease. That investment of time could go a long way to preventing rental fraud.
4. Cash is not king for a security deposit or first month’s rent
Run, don’t walk, from any supposed landlord requesting cash for any debt relating to renting a property, like an application fee or a security deposit. Giving cash means it will be difficult to prove the payment was actually made. Therefore, even if the would-be landlord offers to provide a written receipt, that paper means nothing if they request money and the transaction is a rental scam.
Other payment methods
Other tips when paying rent, the security deposit or the first month’s rent include:
Not wiring money. When you wire money, you run the risk of not having enough of a paper trail.
Using the actual payee’s name and phone number on payment apps like Venmo to ensure the money reaches a legitimate destination
Familiarizing yourself with staff personnel to gain reassurance you’re dealing with a legitimate landlord
The more information you have, the better you can protect yourself from the bad people out there trying to engage in rental scams.
5. Avoid landlords who will not meet in person
It’s said a picture is worth a thousand words, but sometimes, a photo is not always what it seems. Anyone can create and post breathtaking images, its amenities and the surrounding area in an online listing, hoping viewers will like what they see. Therefore, it’s imperative to meet the property manager, landlord or their authorized agent in person before signing on the dotted line.
And, of course, visit the apartment you’re interested in to ensure posted pictures of the abode match the place depicted in the photos. Walking through the rental properties that may become your home is the best way to decide if you like the place. You might feel a vibe you don’t like or realize the available storage space isn’t sufficient for your needs.
Don’t be satisfied with a virtual tour, because the apartment in the video may not be the one you actually rent. If you have to insist on a personal walk-through before renting, you might want to consider walking away instead. This is a sign it could be a rental scam.
Unusual circumstances
A different set of challenges arise when extenuating circumstances prevent a potential tenant from touring a property before renting. One example is if you live out of town and are unable to travel to a new city to visit the apartment prior to signing a lease and moving in. While it’s best to avoid that situation, there are steps to take to decrease the likelihood of falling for a fraudulent listing.
They include:
Asking a friend or relative to check the place out for you
Checking the property address online
Surfing Google Earth for additional details
Requesting the landlord provide references from prior tenants
6. Vet the landlord
Researching a supposed landlord before renting from them can go a long way to preventing fraud.
One way to do that is by checking the website of the county auditor or county recorder where the rental is. That should help you determine who owns the property you want to rent. Be extra careful if it’s difficult to decipher ownership because that could make it easier for someone to perpetrate a fraud.
Hit the internet
While perusing government websites about your would-be landlord, check the criminal courts, too. It could reveal a supposed landlord’s checkered past or their clean background.
Another good place to look online is the county’s municipal court, or wherever you file rental disputes. Does the property owner sue to evict many tenants? How often do they win those cases?
And yet another website to peruse is the Better Business Bureau in the city where the property is or where the landlord has their headquarters. Consumers should report both positive and negative interactions with the business community, so a quick check of their website could reveal whether the landlord or their rental company has ever perpetrated rental scams.
7. Read the lease. Really.
No matter how honest or direct a landlord or property manager might appear, don’t solely rely on a rental listing to decipher what an apartment and its community actually offer.
When you sign a lease, you’re entering into a contract obligating you to perform certain acts, like pay rent on time. The document also explains what the landlord is responsible for, like providing working heat.
If you don’t understand or agree with everything contained in a lease, voice your concerns to the landlord before signing it. It’s too late afterward.
Avoid inexplicable blank spaces on a lease
Don’t sign a lease that’s incomplete. Any missing but pertinent information, such as monthly cost, the rental term and details about who is financially responsible for utilities, are immediate red flags the contact isn’t legitimate.
Rental agreements should also be error-free
A lease agreement is a written contract between a landlord or property manager and a tenant. When a would-be tenant and landlord sign a rental agreement, they enter into a contract requiring certain acts of each of them.
For example, the tenant agrees to pay the rent according to the terms of the contract. The landlord promises to perform whatever the lease promises.
However, a lease pocked with typos, or missing or inaccurate information could be a sign the document is a fraud.
8. Avoid an immediate move-in request
A supposed landlord who insists a potential tenant move in immediately, before a personal walk-through of the place, does not sound legitimate. If nothing else, they sound desperate to rent their unit.
When you tour an apartment and meet the property manager or their representative, they’re meeting with you, too. Normally, an owner takes an interest in who lives in their units. Not taking the time to vet you, as well, should worry you.
Be concerned if they don’t demonstrate that level of concern for their property.
What to do if you’re a victim of rental scams
Unfortunately, despite best efforts not to fall victim to fraudsters, it still happens. If it does, you can fight back.
An initial response is to contact local law enforcement to report the crime. Provide as much information as you can when you contact local authorities to help them in their search for the fraudulent landlord.
Try canceling your method of payment of the security deposit or rent you paid in advance. If you paid cash, you’re out of luck. Using a traceable method, such as a check or credit card, gives you some some recourse to take them to small claims court.
If you wrote a check, contact your bank to determine if somehow, the check was not yet cashed. If it was, report the fraud to your bank. You can also try to stop the payment.
File all the complaints
Don’t forget to file a fraud report with the Federal Trade Commission. While the feds won’t resolve your individual complaint, they use submitted reports to investigate rental scams, unethical business practices and cases of fraud.
The Internet Crime Complaint Center, also known as the IC3, offers another tool for fighting rental fraud. Anyone who believes they’ve been a victim of an Internet crime may file a complaint through that website.
Enjoy a successful apartment search
Finding a great place to live that suits your lifestyle and is affordable is challenging enough, and the prospect of fraud makes it that much more difficult. Create a paper trail of payments for rent or deposits by paying by credit card or check, never by cash. Meet the landlord or their representative personally when you tour the premises and read the written rental agreement thoroughly before signing.
Then, sit back and enjoy your new surroundings.
The information contained in this article is for educational purposes only and does not, and is not intended to, constitute legal or financial advice. Readers are encouraged to seek professional legal or finance advice as they may deem it necessary.
It takes a mortgage industry village Take Toshia Drummond (pictured left), of Approved Mortgage Solutions in Plantation, Fla., who was a schoolteacher for 20 years before entering the industry. “Many, many years ago, I was an English teacher and a literacy coach and ultimately thought that eventually I would be a principal and possibly the … [Read more…]
At the height of the COVID-19 pandemic in 2020, Penn froze hiring, furloughed workers, and cut program budgets. It also issued then-President Amy Gutmann a $3.7 million home loan.
The University’s loan to Gutmann – which was disclosed in the University’s tax filings and Gutmann’s ethics disclosures to become the United States ambassador to Germany – appears to rival the largest-ever loan issued to a college administrator in the Ivy League, according to an analysis by The Daily Pennsylvanian. The DP previously reported that the same tax filings showed that Gutmann received $23 million in compensation during the final year of her presidency, likely a record single-year payout to a university president.
Penn’s loan to Amy Gutmann was the largest issued to an Ivy League administrator in fiscal year 2021
According to Gutmann’s ethics disclosures, the loan was issued in October 2020 at the federal mid-term rate of 0.38% and has a term of nine years or the termination of Gutmann’s tenured professorship at Penn.
In the same month that the loan was issued, Gutmann said that she would take a pay freeze rather than a pay cut in light of the COVID-19 pandemic, when four other Ivy League presidents took pay cuts of 20% or more.
“In 2020, the Trustee Compensation Committee approved an employee loan for President Gutmann consistent with University policy and applicable laws and regulations to assist in her post President transition,” Board of Trustees Chair Scott Bok wrote in a statement to the DP. “The University, like many peer institutions, has from time to time made loans to senior leaders in order to attract and retain the best available talent in key positions.”
A spokesperson for the University declined to share the written loan agreement or minutes of the meeting where the loan was approved by the Compensation Committee.
Gutmann resigned the Penn presidency in February 2022 after she was confirmed as United States ambassador to Germany and since then has been on a leave of absence from her tenured professorship at Penn. In response to a request for comment directed to Gutmann, the U.S. Department of State referred the DP to Penn.
“Pursuant to written policy, the University grants leaves of absence for employment elsewhere for up to two years,” Gutmann wrote in her ethics disclosures to the U.S. Office of Government Ethics in 2021. “If the University extends my leave of absence past two years so that I may continue to serve as Ambassador to Germany, I will refinance the loan with a different lender, pay market rate for the remaining period of my government service, or pay off the loan.”
Multiple experts that spoke with the DP said that universities commonly issue home loans to top administrators for retention purposes, often in the earlier stages of the hire. They said that more public information was necessary to determine whether the loan issued to Gutmann was fully appropriate, though it is not illegal.
“[$3.7 million] is a large amount, even for the wealthiest charities,” Notre Dame School of Law professor Lloyd Hitoshi Mayer said. “And often university presidents are provided with housing by the university, particularly the more elite universities.”
As president, Gutmann was contractually obligated to live in the President’s House, known as Eisenlohr, located at 3812 Walnut St. Mayer added that the size of university loans issued for home purchases is typically associated with the cost of the home but could also cover furnishings and related expenses.
According to Philadelphia property records and Zillow, a 5,000-square-foot home in the Fitler Square neighborhood of Center City was purchased under the name of Michael Doyle, Gutmann’s husband, for $3.6 million in December 2020. The address is the same as the address listed in Gutmann’s voter registration records.
Mayer said that universities typically issue home loans to deans and other senior officers as part of their compensation package, to help them purchase houses when they begin their tenure — especially at universities in expensive real estate markets. In addition to Gutmann, Penn currently has two $150,000 loans issued to Penn Nursing Dean Antonia M. Villaruel and Graduate School of Education dean Pam Grossman before she left office in July.
The purpose of Gutmann’s loan was initially listed as “retention” in the University’s tax filings for fiscal year 2021 and as a “special employee loan” in the same filings for fiscal year 2022. It was issued during the 16th year of her presidency and had increased to a balance of $3,714,060 as of Penn’s most recent tax filings.
“It’s less common, in my experience, that this happens that there’s a general loan as this one appears to be to the officer without ties, for example, to buy the house when they first take the job,” Mayer said. “But it does happen.”
Glenn Colby, the senior research officer in the department of research and public policy at the American Association of University Professors, said a home loan “can be viewed as an investment” of the University’s money.
“A university the size of Penn has an endowment, and they have to decide, what are our investments?” he said. “In this case, it appears that they said, for one investment, would we give a large loan to [Gutmann]?”
Colby added that the nine-year term of the loan matches what limited research has typically observed for loans issued by universities to professors.
Separately from issuing home loans to University officers, the Office of Penn Home Ownership Services offers an application for financing for home purchases and renovations in West Philadelphia. According to the office’s website, over 1,400 employees and families have participated in the program.
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“It’s definitely not a good look,” Colby said. “It’s like why, why are they giving her a loan that massive? And then she left two years after she got the loan.”
While Colby said it was positive that Penn reported the loan in its tax filings he said he would expect minutes of the meeting where the loan was approved to be available to the public.
“The public information raises a lot of fair and legitimate questions that need to be answered about the specifics of the actual loan agreement with the University,” Dean Zerbe, a former senior tax counsel on the United States Senate Committee on Finance who has conducted oversight of loans to charitable officers, said.
Inside: Are you wondering how many weeks are in a school year? This guide will help you answer the ultimate question by state. Plus uncover the number of school days or hours.
Ever had that feeling where your kids seem to always be either in school or at home?
This is a common dilemma many parents and guardians scratch their heads over.
Knowing how many weeks there are in the typical school year not only solves this puzzle but also helps with planning vacations, prioritizing extracurricular activities, and ensuring they don’t miss out on crucial academic days.
The number of school days in a public school year varies significantly by state and even within specific school districts, reflecting the unique approaches and needs of each educational jurisdiction.
This variability results in a range of calendar structures, from standard to modified school weeks, which can impact educational planning and execution.
Understanding this variation in the number of school days is paramount for parents in structuring their work weeks in a year, ensuring that all the fun happens and the kids learn the necessary material.
How Many Weeks in a School Year?
On average, a school year generally includes about 36. However, this can slightly vary depending on your location and the type of school.
For instance, in the United States, a typical school year comprises 180 school days, translating to approximately 36 weeks. This is how many weeks in the academic year.
This calculation includes the school-going days only, excluding weekends and holidays.
When you include no school days from holidays, winter, or spring break, the total number of weeks grows to about 40 weeks.
How many school days are in a year?
The number of school days in a year typically spans from 160 to 180 days, based on the education system in the United States.
This accounts for roughly 36 weeks of schooling.
Thus, allowing plenty of time to enjoy one of these summer jobs for teachers.
Required School Days by State
Did you know that across the United States, each state has a unique number of minimum school days in a year? Yeah, it varies!
In addition, the requirements are set by different groups by the state Department of Education or the local school district.
While Colorado mandates the fewest minimum school days in comparison to other U.S. states, at 160 days, the state still maintains a very similar standard for the minimum required hours of instruction per academic year. Despite the reduced number of days, it does not necessarily indicate less teaching time. This may be why teachers in Colorado are the lowest paid.
Some states like Delaware, Missouri, or Texas only require certain instruction hours, instead of days.
This illustrates that even within differing frameworks, states strive to provide a balanced amount of educational exposure to their students.
As you will see this is way under the number of working days in a year.
Here is the number of student contact days required by each state:
State
State Minimum School Days in Year
Alabama
180 days
Alaska
180 days
Arizona
180 days
Arkansas
178 days
California
180 days
Colorado
160 days
Connecticut
180 days
Delaware
Hours requirement only
District of Columbia
180 days
Florida
180 days
Georgia
180 days
Hawaii
180 days
Idaho
School districts decide on days
Illinois
185 days
Indiana
180 days
Iowa
180 days
Kansas
School districts decide on days
Kentucky
170 days
Louisiana
177 days
Maine
180 days
Maryland
180 days
Massachusetts
180 days
Michigan
180 days
Minnesota
165 days (grades 1 to 11)
Mississippi
180 days
Missouri
Hours requirement only
Montana
School districts decide on days
Nebraska
Hours requirement only
Nevada
180 days
New Hampshire
180 days
New Jersey
180 days
New Mexico
Hours requirement only
New York
180 days
North Carolina
185 days
North Dakota
Hours requirement only
Ohio
School districts decide on days
Oklahoma
180 days
Oregon
Hours requirement only
Pennsylvania
180 days
Rhode Island
180 days
South Carolina
180 days
South Dakota
School districts decide days
Tennessee
180 days
Texas
Hours requirement only
Utah
180 days
Vermont
175 days
Virginia
180 days
Washington
180 days
West Virginia
180 days
Wisconsin
Hours requirement only
Wyoming
175 days
Source: National Center for Education Statistics
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Factors that Influence the Length of the School Year
Knowing how long your school year is can help you plan academically and personally.
But, the question remains will these students be prepared for the number of working hours in a year?
Here are some factors that can influence the duration of a school year:
Legal Requirements:
Every state in the U.S. establishes legal requirements that mandate the minimum amount of instructional days or school hours per year, ensuring that students have a sufficient baseline of educational exposure.
These mandates vary from state to state, with common baselines being around 180 days or varying hours depending on the grade level.
Such requirements can range from 425 hours for Kindergarten in some states to 990 hours for grades 6-12 in others. Exceptions and specific inclusions or exclusions (like recess, lunch, passing periods, etc.) to these instructional times differ among every state, offering districts some flexibility in meeting the standards.
State or City regulations:
State or regional regulations significantly impact the length of the school year depending on climatic, cultural, or other region-specific conditions.
Notably, in areas where the climate includes inclement weather, schools may have longer breaks during winter months to accommodate these conditions.
Also, cultural holidays specific to an area may also necessitate a shift in the school calendar.
School district policies:
School district policies, like budget constraints and teacher contracts, have a crucial role in shaping the length of the school year.
For instance, collective bargaining agreements or contractual obligations could stipulate the length of the academic year, which can differ markedly across various regions.
Similarly, budgetary limitations might lead to reductions or extensions in the number of school weeks, according to the resources available.
Therefore, these policy elements are pivotal in determining the structure and flexibility of the school calendar, directly influencing curriculum planning and the educational opportunities provided to students.
Parental and community expectations:
The effect of parental and community expectations on school calendars can not be underestimated. They undoubtedly play a critical role in shaping the length and structure of the school year.
Parents and the larger community may have certain expectations or preferences that influence when and how long schools are in session. These preferences can significantly shape the academic calendar.
One primary factor is family schedules and routines. Some parents might prefer longer school weeks with shorter breaks scattered throughout the year. This format may align more closely with standard work schedules, minimizing the need for additional childcare arrangements.
On the other hand, some parents might prefer longer breaks, particularly in the summer, to accommodate yearly family vacations. This preference is quite common in many communities where summer holidays are seen as a traditional break for travel and family outings.
School calendars can also be adapted based on parent and community feedback. For example, if a significant number of parents express concerns about children having too much idle time during long breaks, schools might shorten breaks and add more instructional days.
Additional non-instructional days
The overall length of a school year is not entirely determined by the instructional days, but also by these additional non-instructional days.
With more days dedicated to professional development, teachers can enhance their teaching strategies and methodologies, resulting in improved student outcomes. Parent-teacher conferences form another essential component of these additional days, providing a vital platform for communication on students’ progress.
Both these elements contribute to the augmentation of the academic year, extending beyond the set instructional days.
How to Make the Most of the School Year
Making the most of your school year is not just crucial for academic success, but also for your overall well-being.
Here’s how you can do it.
Prioritize time and tasks. Make a list of weekly assignments. Prioritize by deadline and significance, ensuring each task has sufficient time allocated.
Understand your school year structure. This aids in schedule planning, goal setting, and study time allocation.
Create achievable goals. Break them down into manageable tasks and track progress regularly.
Keep track of assignments, due dates, study materials. Use a digital calendar or school planner to stay organized.
Shed light on the opportunity to get ahead. This may be in the form of summer sessions, allowing you to catch up on coursework, and possibly graduate early.
Familiarize yourself with your school’s academic calendar. Make sure to keep note of key dates and deadlines.
Remember, a longer school year equals more opportunities for enrichment activities. So dig into the chances!
FAQ
Yes, there are typically around 36 weeks in a school year, but this can vary.
This calculation is based on the US where most districts require about 180 days of schooling, which roughly translates to 36 weeks. However, this figure may fluctuate between states, districts, and the type of school.
Typically, there aren’t exactly 40 weeks in a school year. On average, based on the U.S educational system, the school year is about 36 weeks.
However, when including breaks and holidays, the total climbs to around 40-42 weeks.
For instance, in the UK, the school year totals 39 weeks.
In Australia, you’d typically have 38.5 weeks of school in a year, broken down into four terms. Each term lasts roughly 10 weeks, but the exact length can vary slightly depending on the state or territory.
Australian kids are in school for roughly 200 days of the year.
School Days and School Weeks – Are You Happy with What is Happening?
Are you satisfied with the average 36 week school year for your child?
While every state sets its requirements, ensuring that your little scholar gets the right quantity and quality of education.
Based on the research, American students receive fewer amount of instructional time compared to their international counterparts, including countries renowned for educational achievements like South Korea, Japan, and Finland.
This suggests that American students may not be getting substantial educational exposure.
However, the adequacy of education isn’t solely determined by the amount of time spent in school. It’s also dependent on other factors like the curriculum content, the emphasis on particular subjects, and the usage of standardized assessments. It’s important to note that these components can differ significantly among countries, leading to differences in the quality and focus of education.
As a parent, knowing this helps you plan what is best for your children as well as the vacations!
It’s your turn to reflect, engage, and make the most of this information.
Know someone else that needs this, too? Then, please share!!
Flight delays can be unpredictable, but it’s also possible for a delayed flight to suddenly become available. The flight could get back on schedule — and if you’re not there, it may leave without you.
That’s why you shouldn’t usually stray too far from your gate.
Now this doesn’t mean you can’t retreat to an airport lounge or grab a drink at the airport bar, particularly if you’re faced with a multihour wait. But if you do leave the boarding area, pay close attention so you’re not left behind should your flight get back on schedule.
Here’s what to do when your flight is delayed, and how you can still escape a potentially crowded boarding area without missing your flight when it finally happens.
Why flight delays happen — and how they can get un-delayed
In the first four months of 2023, only 76.58% of U.S. flights arrived on time, according to Bureau of Transportation Statistics data. The most common cause of delays in that period was the inbound aircraft arriving late, affecting 7.6% of all flights. In short, an issue with an earlier flight can lead to a snowball of flight delays.
The second-most common reason was air carrier issues (which impacted 7.1% of flights in that period). That includes maintenance or crew problems, aircraft cleaning, baggage loading and fueling.
That said, airlines want to depart as close to the originally scheduled departure time as possible. Even though U.S. airlines aren’t required to compensate passengers for delays like they do in the European Union, airlines still lose money. According to the Federal Aviation Administration’s Office of Aviation Policy and Plans, delays cost airlines a combined $8.3 billion in increased expenses in 2019 to cover costs like overtime crew wages.
Given that, airlines are incentivized to get back on schedule. An aircraft experiencing technical issues might initially trigger an alert that the flight has been delayed. But if the airline has another aircraft on standby, then the flight could get back on schedule as originally intended.
When airlines seize such an opportunity, it’s generally a win-win, as the airline gets back on schedule and passengers arrive on time. However, it can end up disrupting passengers who didn’t realize their flight got back on schedule, particularly if they aren’t even at the airport because they intended to wait it out at home or at their hotel.
But there are ways to find out the status of your flight and stay alerted should that delay get un-delayed.
How to find out why a flight is delayed
Your first task is to find out why the flight is delayed. Something like a shortage of available gates might be solved fairly quickly if the airport can reshuffle idle aircraft and make space for boarding.
Meanwhile, a delay due to a massive storm likely means no flights can take off.
Use the FAA’s flight delay website, which displays airport-wide delays impacting major U.S. airports in real time, to better estimate how long you’ll have to wait. Sometimes the FAA’s website provides its own estimates of delay durations, though note that those are exactly that — just estimates.
If you’re at the airport already, you might also just ask the gate agent.
Keep tabs on your delayed flight with the right tools
U.S. airlines are legally required to provide passengers with flight status changes within 30 minutes of being made aware of the status change. While the DOT requires that information be posted on the airline’s website and through the airline’s telephone reservation system, most airlines make it even easier by sending you flight alerts by email, smartphone app or text message.
When booking your flight, provide contact information and opt in to alerts if you want the airline to message you with updates (you can also typically add your contact information after booking). Download the airline’s app, connect it to your reservation and subscribe to push notifications if you want real-time updates about your flight status.
Third–party tools can also help you keep tabs on your flight — sometimes even better than the airline itself. For example, FlightAware amalgamates real-time flight tracking, airport information and weather data into a user-friendly interface that lets you track your flight status. It offers notifications and visualizations of the flight’s progress on a live map. A FlightAware tool called “Where is my plane now?” shows the location of the aircraft, which can give you an idea of the delay’s length, assuming the issue has to do with the inbound aircraft arriving late.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for: