I’ve dropped a rather obscene amount of money on bodywork in the last few years. I’ve had an evolving team of chiropractors, massage therapists, and acupuncturists. I’ve bought books on physical therapy exercises. Some things have worked, others have not. In the end, the pain always comes back.
I have chronic shoulder pain. My arms also frequently go numb in the middle of the night. I don’t mean they tingle, I mean sometimes I literally cannot move my arm. I have to use my functioning hand to reposition it and get blood flowing back into the limb. It’s kinda scary.
Two (Life-Changing?) Questions
When my shoulder bothers me enough, I usually get a massage to alleviate the pain. It’s a temporary fix — I know a 60-minute massage can’t cure a chronic problem that’s probably caused by structure and daily habits. But recently a new (to me) massage therapist asked me two questions that no one else had asked. First, she asked if I grind my teeth at night. Yes, I have in the past, and I have a TMJ (temporomandibular joint) disorder. She firmly suggested that I started wearing my night guard consistently, and in the past five days the pain has gone from a constant ache to a mild annoyance.
The second question she asked: “How old is your mattress?” Oh, man. So old, I didn’t want to tell her. The mattress my husband and I sleep on for (ideally) eight hours every night is 11 years old. I know it’s not in good shape. I just never thought it would make that much of a difference, but then, I never would have guessed that a night guard would, either. “You should think about replacing it,” she said. “Even a cheap new mattress is better than a worn-out one. One of my clients bought a $600 mattress from Costco and her back pain went away.”
The Research Begins
I know you’re probably thinking that a new mattress should have been an obvious solution. But after so many years of varying diagnoses, x-rays showing scoliosis (one chiropractor called it “severe,” another disagreed) and other spinal issues, I thought the pain was a given, something I’d have to learn to manage. I also didn’t realize just how old our mattress was.
I started my mattress search in my usual way, by reading mattress-buying guides like the one J.D. wrote a few years ago. (Interesting tip: According to Consumer Reports, you’ll know in 15 minutes if a mattress will be comfortable: “Panelists who took beds home for a month-long trial rarely changed the opinion they formed after the first night. On the whole, their opinions were the same as those of our in-store testers.”)
But I also had some other concerns, such as off-gassing. Most mattresses and box springs are coated in a mixture of fire-retardant chemicals, formaldehyde, glues, stains, and coatings, all of which release gasses into the air. There are a lot of parenting sites that recommend organic mattresses for baby’s crib, but the hard, scientific data is nonexistent or vague in most of those articles. Here’s what I was able to find:
The most widely used flame retardant, PBDEs (polybrominated diphenyl ethers), are a chemical of concern to the Environmental Protection Agency (EPA). According to their site, the “EPA is concerned that certain PBDE congeners are persistent, bioaccumulative, and toxic to both humans and the environment. The critical endpoint of concern for human health is neurobehavioral effects.” As soon as the EPA bans one kind of PBDE, another is created to replace it.
Environmental Health News reported that because of widespread use in the U.S., Americans have PBDE levels in their bodies 20 times higher than Europeans. “Californians are the highest exposed,” says the article, “likely because manufacturers added PBDEs to polyurethane furniture cushions to meet the state’s stringent flammability rules.”
In a University of California at Berkeley study, of 223 pregnant women studied, more than 97% had PBDEs in their blood, and each 10-fold increase in a woman’s blood was linked to a 30% decrease in her odds of getting pregnant.
A Uppsala University study conducted 10 years ago found that two kinds of PBDEs led to neurological problems affecting learning and memory in lab mice. The lead scientist, Per Eriksson, also has shown that PBDEs cause neurological damage in lab animals at exposure levels just slightly higher than those found in humans.
For a more in-depth look at PBDEs, this Slate article outlines the studies and recent developments. I’m still not sure how much of a difference a mattress makes — is the amount of toxic gas negligible compared to, say, your laptop or carpeting? If that study exists, I couldn’t find it. In the end, you have to weigh the studies with the unknowns and decide if paying extra for an organic mattress is right for you. (Also note that if your mattress is a few years old, it’s possible that it’s finished off-gassing.)
My husband and I decided to go with organic, and we made some adjustments to the budget to cover it. After all, I’d spent much more during the past few years on chiropractic appointments — even an organic mattress looked downright cheap in comparison!
Shopping for a Mattress
We’ve covered mattress shopping at GRS here and here, and those two articles have great advice for getting a good deal on a comfortable mattress. But if you’re interested in an organic mattress, the following are a few extra pointers to keep in mind:
Manufacturers and retailers often use words like “natural,” that don’t necessarily mean anything. For example, sometimes synthetic latex is blended with natural latex, and the end-product is advertised as “natural.” Other labels to question: chemical-free (nothing is actually chemical-free, everything is made up of chemicals), nontoxic (again, nothing is truly nontoxic, even water is toxic if you drink too much), and green (there are no standards for using the word).
While you’re at it, question the word “organic,” too. Some mattresses are sold as organic, when in reality the cotton is organic and the latex is synthetic. If you’re going to spend the extra cash on an organic mattress, make sure it’s made from wool (a natural fire retardant), organic cotton, and 100% natural, sustainably sourced latex.
If possible, buy direct from the manufacturer. Cutting out the retailer is one way to mitigate the higher cost of organic.
Always try before you buy. If you shop online, where organic mattresses and good deals are often easier to find, be sure to try out the mattress in a store first, or make sure that the return policy allows you to send it back. Usually there’s a restocking fee. Be sure you know the store’s policy and will be okay with the terms if the mattress doesn’t work for you.
We opted to buy our mattress from a Texas manufacturer. I found some great deals for organic mattresses online, but I liked that this was a local, 20-year-old business that had great reviews from customers. If we aren’t happy with our mattress, they’ll take it back and customize it based on our feedback, at no additional cost. “We’re in it together,” said the owner, who sold us the mattress. Additionally, if I get a note from a doctor about my back issues, the mattress store will refund us the sales tax we paid.
Next Thursday our new mattress will be delivered, and the old one will go to that big mattress store in the sky. I won’t be able to tell you with any certainty whether organic was worth the extra expense or not, but I have a feeling I’m going to owe that massage therapist a fruit basket or something.
One of my jobs at The Motley Fool is to serve as the internal financial planner for Fool employees. Lately, however, I’ve been answering more questions my colleagues have about their parents — and it’s more likely about their mothers or mothers-in-law. The truth is, women face a more difficult task when it comes to retirement planning, for several reasons:
Women earn, and have, less. According to the Census Bureau, women earn just 77% of what men make. They are also more likely to interrupt their careers to raise children or take care of older relatives. According to the Social Security Administration, the typical woman spends 12 years out of the workforce. This results in lower retirement benefits and smaller portfolios. On average, a female’s 401(k) is 40% less than a male’s.
Women live longer. Generally, retirement begins when a person leaves the workplace and ends when life leaves the person. The longer someone lives, the longer retirement lasts — and the more assets will be needed. On average, gals live five years longer than guys, which means they tend to be retired longer. Add to this the fact that, with most couples, the wife is a few years younger than the husband, and you can see why most women should plan on spending their last few years on their own. Which leads us to…
Women are more likely to spend part of their lives single. Though my wife may not believe it, marriage enhances retirement security. According to a National Bureau of Economic Research study by Susann Rohwedder and Michael Hurd, 80% of married couples in the 66-69 age group are adequately prepared for retirement, whereas just 55% of single persons have enough resources. Unfortunately, more than twice as many older women are single than older men. According to the Census Bureau, 19% of men over the age of 65 live alone, compared to 40% of women in the same age group. More than two-thirds of 85-year-olds are women.
Women tend to retire earlier. According to the Center for Retirement Research at Boston College, the average retirement age for men is 64, whereas the typical woman retires at age 62. This is often because a wife will retire at the same time as her husband. It’s just another reason why women can be expected to fund a longer retirement than men.
Women often leave financial planning to their husbands. According to a survey from ING Direct and Dailyworth.com, 40% of married women leave retirement planning to their partners, and almost 30% say they don’t know what their main source of future retirement income will be. This leaves widows and divorcees vulnerable when they find themselves single again, and could contribute to a general lower knowledge about money matters. According to studies by Dr. Annamaria Lusardi, director of the Financial Literacy Center, women score 12 percentage points lower than men on tests about concepts such as inflation and diversification, as well as other measures of financial literacy.
What’s a Woman to Do? While all those statistics can be discouraging, the good news is that there are plenty of solutions. Here are the steps all women (and the men who love them) can take.
Become a money master. Regardless of whether you’re single, married, or living in a hippie commune where no one bathes but someone has to pay the bills, make sure you keep learning about financial planning and have a hand in the household finances. According to a study from Hartford Financial Service and the MIT AgeLab, couples who share the financial housework are more prepared than couples that rely on just one member to do all the financial lifting; the former group is more likely to have saved more and developed a plan for what will happen when one spouse passes away. This doesn’t mean that each spouse must do everything together, but it does mean that each spouse should know enough about what’s going on, and how to manage the family finances in the case the other spouse becomes ill or passes away.
Manage the couple’s benefits with the survivor in mind. The timing of when one spouse begins receiving Social Security and pension benefits (if any) can affect the financial security of the other spouse. The questions to ask are: 1) Will the primary beneficiary receive a larger benefit for delaying, and 2) how much of the benefit will go to a surviving spouse? In the case of Social Security, the benefit does increase for each year of delaying, which can be very important source of income for a retiree whose lifetime earnings record is not as high as her or his spouse’s, because that higher benefit will continue to the lower-earning spouse when the higher-earning spouse passes away.
Be ready to be on your own. The last time I covered this topic in a GRS post, a reader linked to a New York Times article, written by a woman who had once been an advocate for stay-at-home motherhood:
So I was predictably stunned and devastated when, on our 40th wedding anniversary, my husband presented me with a divorce. I knew our first anniversary would be paper, but never expected the 40th would be papers, 16 of them meticulously detailing my faults and flaws, the reason our marriage, according to him, was over….
The judge had awarded me alimony that was less than I was used to getting for household expenses, and now I had to use that money to pay bills I’d never seen before: mortgage, taxes, insurance and car payments. And that princely sum was awarded for only four years, the judge suggesting that I go for job training when I turned 67. Not only was I unprepared for divorce itself, I was utterly lacking in skills to deal with the brutal aftermath.
I hate to be so cynical as to suggest every person should be ready to become single at any moment, but I do think everyone should have a Plan B at the ready.
Delay retirement until everyone is ready. The decision to retire should not be based solely on whether both spouses have enough money to cover expenses, but also on whether a surviving spouse would be secure should the other spouse pass away. According to the Hartford study, the typical widow sees her income drop 50% when the husband passes away, yet expenses drop just 20%. To make sure they have enough in their later years, people should continue to work — and save — until they have enough to survive on their own, and not retire just because their spouse does.
Everyone should know the team. If you use any financial-services professionals — accountants, advisors, attorneys — both spouses should know at least enough to know what they do for you, and how to contact them. If you don’t use pros because one spouse does the work, you may want to begin assembling a team in your later years to smooth the transition in case that one spouse is no longer able to do the job. You can start with a fee-only financial planner, such as those who belong to the Garrett Planning Network or the National Association of Personal Financial Advisors.
The Times, They Are A-changin’ These kinds of posts can be tricky, since they’re based on generalizations that obviously don’t apply to every woman or couple, and can come off as sexist. To be sure, I know plenty of couples in which the wife is in charge of the household finances. These folks tend to be younger, which is why I think the difference in retirement prospects for women and men is partially a generational issue. It’s certainly my experience that women in their 70s — like my mother, who found herself divorced and re-entering the workforce in her 50s — are more comfortable leaving all the financial housekeeping to their husbands, and also less comfortable talking about money. Maybe that’s just my personal experience. But I do hope, as the income gap between men and women shrinks, and more men share in the child-raising responsibilities (for example, The Motley Fool offers paternity leave to new dads), that a post like this will be largely unnecessary several years from now.
That’s how New York University professor Sewin Chan described the traditional retirement path at a symposium several years ago. However, that path may be changing. Her research indicates that approximately one-third of retirees from 1992 to 2004 reversed their retirement. Today, the path might look more like this (as Chan illustrated in her PowerPoint presentation): “Work, work, work. Retire (for a bit). Work. Retire?”
I re-discovered these little quotes by reading through past issues of my newsletter, which is about planning for — and living in — retirement. However, as I’ve written before, I’m a retirement expert who doesn’t plan on retiring. I’m not sure it’s best for most people’s health or wealth. And it might be just too dang risky. Plus, I like what I do, where I do it, and the people I do it with. Of course, I still save for retirement because who knows if I’ll feel the same way 30 years from now.
On the other hand, “work, work, work, work, work, work” doesn’t sound like much fun, either. But as Chan’s presentation suggested, the traditional work/retire chronology may not be the best model. Rather than saving all the retirement for the end of your life, perhaps it’s possible to rearrange the order by taking a break mid-career, gradually ratcheting down the work week, or working fewer weeks out of the year.
With this in mind, I flipped through the pages of my newsletter (eight years’ worth), looking for examples of people who have taken the retirement road less travelled. Here are a few tales I uncovered.
That “Work Just 48 Minutes Each Weekday” Guy The first example came from an article I wrote in 2008, about a book you’ve likely heard of: The Four-Hour Workweek by Timothy Ferriss. How was then-30-year-old Ferriss able to support himself on less than a day’s worth of work per week? He created his own business and then outsourced everything else. Ferriss checks email just once a week. Another option he suggested: Become a key employee, and convince your boss to let you work from home. But instead of being at home, you’re in Berlin, Beijing, or Buenos Aires. Again, outsource as much as you can by engaging the services of companies such as Your Man in India, and email your work to the office.
While not a realistic plan for most people, Ferriss makes some worthwhile points for those looking for an alternative to “9-to-5 till you’re barely alive.” He distinguishes people who are “deferrers” — those who lead hard-charging careers in pursuit of the Holy Grail of retirement that is decades away — from the “New Rich,” who have loads of time and flexibility, and “distribute recovery periods and adventures (mini-retirements) throughout life on a regular basis and recognize that inactivity is not the goal. Doing that which excites is.”
“Personally,” he writes, “I now aim for one month of overseas relocation or high-intensity learning (tango, fighting, whatever) for every two months of work.”
My first reaction to reading his book was: Clearly, this person doesn’t have children. (I have four — that I know of.) But beyond that, Ferriss makes some provocative arguments with some catchy phrases. There’s much more to his philosophy, tips, and tricks. You can read more of what Ferriss thinks of retirement from this this interview J.D. did with him in 2008.
Supersave Your Way to Early Retirement I’ve spilt a good deal of cyber-ink writing about safe withdrawal rates in retirement — the amount retirees can spend each year and be reasonably sure their portfolios will last as long as they do. For many years, I cited the work (and the actual words) of John Greaney, who retired from his engineering career in 1994 at age 38 and founded RetireEarlyHomePage.com. How did he do it? Once his school loans were paid off by age 25, he began saving 25% of his salary. As his income increased over the years, his savings rate reached 40% to 50%.
Reduce Living Expenses, Retire Sooner Fred Brock, author of Retire On Less Than You Think, moved to Kansas after retiring from The New York Times. He sold his house in New Jersey and bought a newer house in Kansas with cash. “The absence of a mortgage payment was effectively an increase in salary,” he wrote. “In addition, our property taxes dropped from $9,000 a year to about $2,700.”
Live All Around the World Keeping housing costs down is also how Ferriss is able to work so little, but he does it on a global scale. He calls it geoarbitrage — “to exploit global pricing and currency differences for profit or lifestyle purposes.” This strategy is also used by Motley Fool contributors Akaisha and Billy Kaderli, who retired at age 38 and live on less than $30,000 a year by staying in low-cost but exotic countries, such as Thailand, China, and Ecuador. You can read more about how they do it in this GRS interview from last summer.
Reduce Living Expenses by Living on Wheels You know the cliché about people retiring to an RV? People really do it — and it’s inexpensive. Ron and Barb Hofmeister did it for 14 years after retiring in their 50s. They explain in their book, Movin’ On: Living and Traveling Full-Time in a Recreational Vehicle, that their living expenses ranged from $1,500 to $3,000 a month, but it can be done for much less. “The lifestyle can be adjusted to almost any income,” Barb told me in 2005. Those numbers have likely risen bit over the past seven years, but not drastically. One strategy they used: When gas prices were high, they stayed in one place longer.
Change Careers Instead of Retiring A few years ago, Sheryl Garrett, founder of the fee-only Garrett Planning Network, told me the story of a 52-year-old woman who made just $13,000 a year. She had saved $55,000, and asked Sheryl what to do with it. Sheryl asked her, “What would you really like to do in life?” She responded, “I have always wanted to be a nurse.” After running the numbers, they decided that spending that money on a nursing degree was the best investment. Now the woman has a higher income and a new career, one she says she could enjoy well into traditional retirement age. As even Ferriss conceded in The Four-Hour Workweek, “Full-time work isn’t bad if it’s what you’d rather be doing. This is where we distinguish ‘work’ from a ‘vocation.’”
Turn Your Hobby Into Your Income Back in the early days of my newsletter, a subscriber named Doug Short became very active on our discussion boards, providing excellent answers to a whole range of financial questions posted by other subscribers. Doug started out as an English professor, and then became a consultant for IBM, mixed in some work at GlaxoSmithKline, and eventually retired. Along the way, he built up his website construction skills and financial know-how, eventually combining the two to create a little site that conveyed economic data and history visually. It eventually showed up in places like CNN and Barron’s, and the site was bought by Advisor Perspectives (which now pays Doug to actively maintain the site in his “retirement”).
Closer to home, the founder of the very site your eyes now gaze upon might have a thing to say about turning a sideshow into the main event.
It may take years, and may never completely replace a full-time salary, but having a source of income from doing something you enjoy can add a very interesting variable to your retirement calculus.
The Retirees, They Are A’Changin’ We will see a continued variance in what “retirement” looks like over the next couple of decades. Some of that, frankly, will be due to millions of people not having enough to retire, and fewer traditional defined-benefit pensions to save them. But it will also be due to people re-thinking the whole idea of retirement. According to the Kaufmann Institute, the 55-64 age group accounted for 20.9% of new entrepreneurs in 2011, compared to 14.3% in 1996. Starting businesses isn’t just for young folks.
And you? What kind of retirement do you have planned? Know of any other examples of folks who worked a different path? Perhaps we’ll start a retirement revolution!
While the 30-year fixed is the most common home loan program utilized by borrowers today, it might not be the most economical.
Aside from taking three decades to pay off your mortgage in full, you’re probably also paying a premium for something you might not even benefit from.
Are You Really Staying for 30 Years?
Most folks have trouble committing to something for 30 days, let alone 30 years. And when it comes to homeownership, this is no different.
Sure, you might think you found your forever home, but a year or two later, you could be itching to move on to greener pastures, or simply someplace else.
We move for a lot of different reasons, whether it’s due to a job relocation, a growing family, or other miscellaneous scenarios.
Whatever the reason, one thing is clear; homeowners on average don’t stay in their properties for anywhere close to 30 years.
So why take out a 30-year fixed mortgage and pay a premium for it?
Average Tenure Rising, But Still Nowhere Close to 30 Years
A recent report from ATTOM Data Solutions revealed that those who sold a home in the second quarter of 2019 had owned it for an average of 8.09 years.
This is actually a new peak, up three percent from the first quarter and four percent from Q2 2018.
It’s also much longer than the homeownership tenure seen prior to the Great Recession, where it averaged 4.21 years between the first quarter of the year 2000 and the third quarter of 2007.
But it’s still not even a third of the loan term of the 30-year fixed. In fact, it’s just over a quarter of the full loan term.
Here’s the problem – when homeowners opt for the 30-year fixed, which most do, they’re paying extra (in the way of a higher mortgage rate) for the safety and stability of a fixed interest rate for three full decades.
But as you can see from the chart above, very few homeowners actually stick around long enough to benefit.
Sure, some do, but it seems we’re becoming more and more nomadic these days.
The other day I was at the bank and actually overheard a woman who said she had owned her home for 53 years.
For her, a 30-year fixed may have paid off, assuming she locked in a low rate at the outset and rates increased over time.
But again, there’s another problem. When you take out your 30-year fixed, you’re essentially hoping it’s the perfect time to do so, ideally before interest rates increase.
Because even if you don’t sell your home early, if rates go down, there’s a good chance you’d benefit from a mortgage refinance.
This would once again nullify any benefit of taking out the higher-cost 30-year fixed.
Even if rates are low, as they are now, most individuals don’t expect further improvement.
So many of those who obtained their mortgages six months ago probably opted for a 30-year fixed loan thinking rates hit bottom.
Well guess what? The 30-year fixed was roughly 4.5% in January, and now closer to 3.75%.
These folks are now refinancing their 30-year loans that lasted about half a year, or roughly 1.6% of the intended loan term.
A Few Caveats…
Now it might sound like I’m completely against the 30-year fixed. But it’s not quite that simple.
We have to consider the discount of alternative loan programs. If you opt for a cheaper ARM instead, such as the 5/1 ARM or the 7/1 ARM, just how much will you actually save?
These days, the answer might be not very much. Over time, the spread between interest rates on ARMs and the 30-year fixed fluctuate.
At times, you might be able to secure a rate that’s a half to a full percentage point lower.
But at the moment, this spread is only about .25% for the 5/1 ARM, and perhaps even less for the 7/1 ARM, depending on the lender.
So you might not even save all that much in terms of interest paid, and the difference in monthly payment could be pretty negligible.
For example, a $300,000 loan amount with a 3.75% mortgage rate would cost $1,389.35 per month. If you could get a 5/1 ARM at 3.50%, the monthly payment would be $1,347.13.
Sure, it’s about $40 less per month, and more than $2,500 cheaper over the first five years of the loan, but it might not be all that noticeable.
And if you do happen to be one of those people who found their dream home, or a borrower with uncertain finances that can be tough to refinance, you could wind up with an expensive mortgage in the not-too-distant future once rates reset higher.
Five years can go by in the blink of an eye, so you certainly need a contingency plan if you take out an ARM.
Read more: How long do you plan to keep your mortgage?
While the 30-year fixed is the most common home loan program utilized by borrowers today, it might not be the most economical.
Aside from taking three decades to pay off your mortgage in full, you’re probably also paying a premium for something you might not even benefit from.
Are You Really Staying for 30 Years?
Most folks have trouble committing to something for 30 days, let alone 30 years. And when it comes to homeownership, this is no different.
Sure, you might think you found your forever home, but a year or two later, you could be itching to move on to greener pastures, or simply someplace else.
We move for a lot of different reasons, whether it’s due to a job relocation, a growing family, or other miscellaneous scenarios.
Whatever the reason, one thing is clear; homeowners on average don’t stay in their properties for anywhere close to 30 years.
So why take out a 30-year fixed mortgage and pay a premium for it?
Average Tenure Rising, But Still Nowhere Close to 30 Years
A recent report from ATTOM Data Solutions revealed that those who sold a home in the second quarter of 2019 had owned it for an average of 8.09 years.
This is actually a new peak, up three percent from the first quarter and four percent from Q2 2018.
It’s also much longer than the homeownership tenure seen prior to the Great Recession, where it averaged 4.21 years between the first quarter of the year 2000 and the third quarter of 2007.
But it’s still not even a third of the loan term of the 30-year fixed. In fact, it’s just over a quarter of the full loan term.
Here’s the problem – when homeowners opt for the 30-year fixed, which most do, they’re paying extra (in the way of a higher mortgage rate) for the safety and stability of a fixed interest rate for three full decades.
But as you can see from the chart above, very few homeowners actually stick around long enough to benefit.
Sure, some do, but it seems we’re becoming more and more nomadic these days.
The other day I was at the bank and actually overheard a woman who said she had owned her home for 53 years.
For her, a 30-year fixed may have paid off, assuming she locked in a low rate at the outset and rates increased over time.
But again, there’s another problem. When you take out your 30-year fixed, you’re essentially hoping it’s the perfect time to do so, ideally before interest rates increase.
Because even if you don’t sell your home early, if rates go down, there’s a good chance you’d benefit from a mortgage refinance.
This would once again nullify any benefit of taking out the higher-cost 30-year fixed.
Even if rates are low, as they are now, most individuals don’t expect further improvement.
So many of those who obtained their mortgages six months ago probably opted for a 30-year fixed loan thinking rates hit bottom.
Well guess what? The 30-year fixed was roughly 4.5% in January, and now closer to 3.75%.
These folks are now refinancing their 30-year loans that lasted about half a year, or roughly 1.6% of the intended loan term.
A Few Caveats…
Now it might sound like I’m completely against the 30-year fixed. But it’s not quite that simple.
We have to consider the discount of alternative loan programs. If you opt for a cheaper ARM instead, such as the 5/1 ARM or the 7/1 ARM, just how much will you actually save?
These days, the answer might be not very much. Over time, the spread between interest rates on ARMs and the 30-year fixed fluctuate.
At times, you might be able to secure a rate that’s a half to a full percentage point lower.
But at the moment, this spread is only about .25% for the 5/1 ARM, and perhaps even less for the 7/1 ARM, depending on the lender.
So you might not even save all that much in terms of interest paid, and the difference in monthly payment could be pretty negligible.
For example, a $300,000 loan amount with a 3.75% mortgage rate would cost $1,389.35 per month. If you could get a 5/1 ARM at 3.50%, the monthly payment would be $1,347.13.
Sure, it’s about $40 less per month, and more than $2,500 cheaper over the first five years of the loan, but it might not be all that noticeable.
And if you do happen to be one of those people who found their dream home, or a borrower with uncertain finances that can be tough to refinance, you could wind up with an expensive mortgage in the not-too-distant future once rates reset higher.
Five years can go by in the blink of an eye, so you certainly need a contingency plan if you take out an ARM.
Read more: How long do you plan to keep your mortgage?
As many as one in three Americans have criminal records. And since most employers run background checks on potential candidates, these records can be a considerable impediment for those previously convicted of a felony.
In fact, according to the Sentencing Project, more than 60% of formerly incarcerated individuals are unemployed one year after being released
.
Therefore, starting and running a business may be a suitable way of earning income. Although formerly incarcerated individuals can still face challenges as entrepreneurs, a variety of small-business grants and additional resources can help.
How Much Do You Need?
with Fundera by NerdWallet
Grants for people previously convicted of a felony
Unlike small-business loans, grants provide free funding that doesn’t need to be repaid. Grants can be a particularly good option for formerly incarcerated entrepreneurs who don’t want to take on debt or have trouble qualifying for debt financing.
It’s important to keep in mind that finding and applying for small-business grants is time-consuming and entries are competitive. If you dedicate the necessary time and effort, however, you may be able to access free capital for your business.
Nonprofit and corporate grants
Formerly incarcerated individuals can get business grants from corporations and nonprofit organizations. Some nonprofits even offer second-chance entrepreneurial programs — in other words, training and funding opportunities designed specifically for previously incarcerated people.
Rise Up, Get Started Grant Program
Determination, Incorporated, a nonprofit organization based in Kansas City, Missouri, that helps formerly incarcerated individuals start and grow their own businesses.
Through the organization’s Rise Up, Get Started initiative, business owners can participate in a year-long program where they receive coaching, mentoring and community support. Entrepreneurs will also have assistance writing a business plan and creating a budget.
At the conclusion of the program, participants will have $300 saved for their business — and Determination, Incorporation will award a $750 grant on top of these savings.
The nonprofit organization also runs an in-prison Back to Business workshop, which helps incarcerated individuals develop a business plan so that they can get started quickly upon release.
Georgetown Pivot Program
The Georgetown Pivot Program is a full-time, one-year program designed to help formerly incarcerated individuals develop the skills to succeed in a business and professional environment.
Over the course of the program, participants will attend classes, receive an internship placement and get the opportunity to develop their own business idea. Each participant will present their business idea at the Pivot Pitch Competition for a chance to win startup funding. In 2022, participants were awarded a total of $15,000 in grant money.
To qualify, participants must be 25 years or older with a high school or a GED diploma who were last incarcerated within the past five years. Preference is given to Washington, D.C., residents.
The Transform Business Grant
The Transform Business Grant is open to business owners in systemically oppressed groups, including formerly incarcerated people. In addition to $1,000 microgrant, recipients will also be awarded a customized, year-long business strategy and development program. The next grant cycle runs from July 20-August 20, 2023.
LEAP Virtual Entrepreneurial Academy
LEAP is a nonprofit organization based in Florida that works with previously incarcerated women and helps them as they transition back into society. The LEAP Virtual Entrepreneurial Academy is a program that runs twice per year and teaches business skills to its participants.
Over a three-month period, students attend classes twice per week, and at the conclusion of the program, they pitch a business plan to a panel of entrepreneurs for an opportunity to win cash prizes. Graduates are also eligible to apply for a $1,000 microloan.
To qualify, you must be a formerly incarcerated woman who has access to a computer. LEAP covers all program costs through funding from its sponsors.
Amber Grant
Although not designated exclusively for previously incarcerated individuals, the Amber Grant is another great funding option for women entrepreneurs. The nonprofit organization WomensNet offers several grant opportunities to businesses that are at least 50% women-owned, including the $10,000 monthly Amber Grant and the $25,000 annual Amber Grant.
WomensNet also issues a startup-dedicated grant, a nonprofit-dedicated grant and business category grants. Each month, the organization offers a $10,000 grant to a company in a specific industry — in July, for example, the funding is awarded to an animal services business.
You can apply for all of these grants by submitting one simple application through the Amber Grant website.
NASE Growth Grant
The National Association for the Self-Employed (NASE), provides growth grants of up to $4,000 to small businesses on a quarterly basis. To be eligible for one of these grants, however, you must be a NASE member.
The organization offers several different membership options (which include additional benefits, such as expert advice and product discounts) and does not exclude formerly incarcerated individuals from joining.
Once you become a member, you can apply for a grant through the NASE website. Monthly members, however, will have to wait 90 days before they can apply. For the application, you’ll need to provide a business plan and explain why you need the funds and how you’ll use the money.
Incfile Fresh Start Business Grant
Grant winners will receive Incfile’s Gold plan for free, which includes incorporation services in your state, free registered agent services for a year and a free tax consultation. You’ll also receive a $2,500 grant.
To apply, you must complete an online application, create a two-minute video explaining how entrepreneurship will impact your life and submit a sample business plan. Incfile accepts applications three times per year.
Government grants
Individuals previously convicted of a felony can also get business grants from the federal government, as well as state and local governments. Here are some options to consider:
Grants.gov
Grants.gov is a database of federal small-business grants available to all types of entrepreneurs, including formerly incarcerated individuals. This database offers access to over 1,000 grants administered by 26 government agencies, such as the Department of Energy, Department of State and Department of Transportation.
To apply, you’ll need to register your business using the System Award Management platform and get a unique entity identification number. Once you have your number, you can create an account on Grants.gov to submit your grant applications.
Economic Development Offices
Most states and many cities have economic development offices, which are dedicated to promoting and supporting local businesses. Through your regional office, you’ll likely be able to find information regarding government funding solutions, training programs and tax incentives.
Maine’s Office of Business Development, for example, provides a variety of grant opportunities, including options that finance recreation businesses, local tourism, agriculture and food businesses, among others.
Additional resources for people previously convicted of a felony
Entrepreneurial training programs and other tools can be extremely beneficial for individuals previously convicted of a felony looking to start or grow their businesses — even if they don’t necessarily provide free funding. Finding organizations that focus on helping the formerly incarcerated transition back into society through entrepreneurship can be particularly useful.
Here are some available resources:
Help For Felons
The website HelpForFelons.org provides a wide variety of resources for those who were convicted of felonies, as well as other previously incarcerated individuals. Through the site, you can find job postings, legal information and housing options. You can also access lists of personal and business grants, loans and other forms of financial assistance.
Inmates to Entrepreneurs
Inmates to Entrepreneurs is a nonprofit organization whose mission is to help people with criminal backgrounds launch their own businesses. The organization offers free online and in-person courses to give would-be entrepreneurs the business education they need to get started.
Defy Ventures
Defy Ventures administers several second-chance programs with the goal of helping formerly incarcerated individuals succeed in their new lives and decrease the rate of recidivism. Through Defy Ventures, potential entrepreneurs can participate in an entrepreneur boot camp or a business accelerator. Through these programs, they gain the skills they need to launch and grow a business.
Project ReMADE
Project Remade is an entrepreneurship training program run by Stanford Law School. This program teaches formerly incarcerated individuals basic business skills and introduces them to professionals in the business community.
Between classes, students meet with mentor teams who help them develop a potential business plan. Mentor teams consist of one Stanford Law Student, one Stanford Graduate School of Business student and one Silicon Valley professional.
At the conclusion of the program, entrepreneurs present their business plans before a panel of executives and microdevelopment organizations.
Entre Capital
For entrepreneurs who are still looking for financing, Entre Capital is a community development financial institution (CDFI), specifically devoted to providing capital to second-chance businesses. The organization only funds previously incarcerated individuals, offering them loans to start or expand their operations.
Entre Capital also offers assistance with business planning, budgeting and financial reporting, as well as mentorship resources.
Refoundry
Refoundry is an incubator program based in Brooklyn, New York. Through this program, formerly incarcerated individuals are taught to repurpose reclaimed materials into home furnishings. As they develop these skills, Refoundry mentors also teach participants how to build a resume, succeed in an interview and start their own business.
Small Business Development Centers
Small Business Development Centers (SBDCs) are SBA-sponsored centers that provide free or low-cost training and assistance to new and existing businesses. These centers are typically hosted by local colleges or universities, as well as state economic development agencies. SBDCs often maintain lists of funding opportunities in your area and can help you find and apply for the best options for your needs.
Frequently asked questions
Are there grants for those convicted of felonies to start their own businesses?
Yes. Formerly incarcerated individuals may be able to get startup business grants from the federal government and their state or local government. Some organizations, like the National Association for the Self-Employed, also offer grants for startup businesses.
How do you get a business grant as a formerly incarcerated individual?
As a formerly incarcerated individual, you can search and apply for grants related to your business. These grants may be available from the government, nonprofit organizations or large corporations. Before applying, you should ensure you meet all of the eligibility criteria, such as industry, time in business and specific need for funds.
Are there SBA grants for those convicted of felonies?
The SBA doesn’t usually offer grants directly to any small-business owners. Instead, it grants nonprofits and community organizations that promote and support entrepreneurship. Alternatively, you might consider an SBA loan. Individuals with a felony record are not excluded from applying but will need to provide a completed fingerprint card.
To hear the storage industry tell it, every kitchen needs plastic containers in a dozen sizes. You need specialized storage, too: triangles for wedges of pie, say, or deviled-egg sarcophagi with little divots to cradle each demi-oeuf. Oh, and lots of foil, waxed paper, and plastic wrap and bags to hold sandwiches and snacks or cover bowls of leftovers.
My boxes of foil and plastic wrap last me up to a couple of years each. And while I’ll cop to owning a few Tupperware and Rubbermaid pieces, it’s all hand-me-down stuff — and note that I said a few. I don’t need much, and I don’t use much commercial wrapping, because there are plenty of other ways to store food.
Note: Before I share these frugal hacks, I need to address the issue of plastic. Some people are very nervous about chemicals leaching into their foods. If this is you, then ignore all mention of plastics below and focus on the other ideas.
Use What You’ve Got
Don’t automatically assume you need special food-storage containers. Why not just put leftovers in a bowl with a saucer or bread-and-butter plate on top? If it fits snugly, it’s no different than aluminum foil or a plastic lid. (What? You thought that “burping” a Tupperware container got all the air out?)
Glass food-storage dishes are all the rage now, but glass jars work just as well. The next time you finish up some jam, pickles or spaghetti sauce, save the jar. (Quart canning jars are good for food storage, too, if you can get them cheaply. More on that below.)
The upside: They’re free. The downside: They don’t hold as much as those big Tupperware bowls — and they don’t stack like them, either, so they take up quite a bit of room in the cupboard. I keep only a couple of them around and recycle the rest.
When cream cheese goes on sale, I stock up on the soft variety. Not only is it easier to spread, it comes in a sturdy and reusable container. I use these for small amounts of leftovers, or fill them with individual servings of pudding. (I’m also using one for odd nails, screws and other bits of miscellaneous hardware.)
Empty margarine tubs work much the same way. They tend to be larger, but that’s fine — you can put small leftovers in a large container, but you can’t put large leftovers in a small container.
Bonus: If you’re sending food home with dinner guests, you don’t worry about getting the Gold’n Soft container back. Nobody’s walking out the door with my Tupperware, though, because it belonged to my mother.
I buy Wyler’s sugar-free lemonade, which comes in little packets inside a plastic container. These containers have proved useful for stacking Christmas cookies as gifts. When I’m making jam and have a small amount left over, I’ll put it in a Wyler’s container and give it to my sister or a neighbor.
It’s in the Bag
I broke my toe last spring. When I looked for a plastic bag to use as an ice pack, I was amused by the variety of choices. I had bags that once held hot dog rolls, bread, and frozen soybeans, corn and mixed vegetables. I had the inner liners from boxes of cereal and crackers. I even had a number of Ritz cracker sleeves.
Here are a few ways I’ve used these items:
Plastic bags. I use these to store leftover meatloaf, chicken or pork chops and to keep home-baked goods fresh (I don’t have a cookie jar). Sometimes I slip a bowl of leftovers inside one of these bags.
Ritz cracker wrappers. Cut up, they’re good for wrapping and freezing the hamburger patties I make when ground beef goes on sale. I secure them with rubber bands — since I still subscribe to a newspaper, I have tons of those things. A cracker wrapper is rubber-banded over the glass measuring cup of bacon fat sitting in my fridge. And I’m writing this from a house-sitting job; I used a Ritz cracker wrapper around the toothbrush in my toiletries bag.
Frozen vegetable bags. I use them to freeze chili — or spaghetti-sauce-sized portions of cooked ground beef or chicken. Or I cut off the ends and cut the bag in half lengthwise; each half is the right size for wrapping those hamburger patties. (Originally I offered these to my sister, who owns a Golden Retriever. She declined because she prefers a bag she can tie shut and also because big dog = big poop. Bigger than 16 ounces? Yikes! Another reason I don’t have a dog.)
Cracker/cereal liners. These are good for storing chicken or chops bought in bulk and then re-wrapped into smaller portions. If you cut the liners open, you wind up with what’s essentially a big piece of waxed paper. It can be cut into smaller pieces to wrap hamburger, whether cooked or in patties. Each summer I cut one of the large cracker liners to fit the cookie sheet on which I freeze gleaned blackberries. I freeze them until they’re solid before putting them in bags, to keep them from becoming one big lump.
And then there are the washed and re-used Ziploc bags. You just knew I’d bring that up, didn’t you? An MSN Money reader suggested buying only the freezer bags, which seem to be made of sterner stuff and will last longer. I can attest: Some of my zipper-type bags are on their fourth tour of duty for frozen blackberries.
However, if a bag has held raw meat then I tend to throw it out. Campylobacter and other nasties are nothing to fool with; to me, it’s worth occasionally tossing a bag vs. risking food poisoning.
Possible Frugal Hacks
Why pay retail? Here are some other ways to save on food storage:
You can often find Tupperware and other storage containers in the “free” box at yard sales. Empty jars, too.
I bought aluminum foil at an estate sale. Or, rather, I tried to buy it: The woman running the sale just gave it to me. If I’d paid, it would have been a quarter and it was one of those big boxes, too.
Once I found waxed paper in the half-price bin at the dollar store. If you are very lucky there will be a clearance bin at your dollar store, too.
Keep an eye on the Freecycle network — I’ve seen Rubbermaid, Tupperware and canning jars offered. Don’t see any? Put up a “wanted” ad.
You can paint these tactics as extremely green/frugal, or you can use them as an easy opportunity to make fun of extremely green/frugal types. Personally, I prefer to look at it as giving “throwaway” plastic at least one more use — and, yes, I’m saving money because I don’t have to pull a length of foil or plastic wrap off the roll. Have you checked the price of commercial wraps lately?
J.D.’s note: Donna’s right: It’s easy to make fun of frugal tactics like this. But remember how last May I spent ten days on a boat with my real millionaire next door? Well, he does all of these things and more. And the photo illustrating this article? That’s our own kitchen drawer — Kris has a vast library of re-used plastic bags and containers.
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I’m not really sure about this whole expensive holiday gift thing. I know it’s supposed to be a way of showing love and appreciation, but I think it is too much pressure. Why not give a cheap holiday gift that they will actually use?
Plus a lot of people struggle with finding a Christmas gift for their loved ones, regardless of price.
Some people say that the best gifts are homemade, but not always. I am going to show you 101+ of my favorite cheap but thoughtful Christmas gifts ideas for someone who is on a budget or does not want to spend too much money.
These cheap Christmas gift ideas are for everyone on your list, from the family member you don’t know what to get them to the coworkers who always complain about not getting anything.
You will find the best advice on how to find the perfect present without breaking your budget.
The holidays are right around the corner, and it is time to start thinking about those gift lists! The holidays are about spending time with those closest to you, for many Americans it can be exceedingly difficult to find a decent gift for those from your close circle.
Why Cheap Christmas Gift Ideas
I know that you’re looking for some great gift ideas this year and we have you covered: adults, teens, kids, fashionistas, athletes, teachers, plus so much more!
There are so many inexpensive Christmas gift ideas that it can be hard to know where to start. This article will help you find the perfect present for everyone this holiday season.
The price range will be cheap Christmas gifts under $10 or nice cheap gifts for Christmas under $20. Some items maybe a little bit more expensive, but well worth the extra cost based on the idea!
Find over 250 cheap last-minute Christmas gifts (delivered by Amazon) on this list that I know the recipient will love!
Cheap Christmas Gifts for Adults
Easy cheap Christmas gifts for adults are those that can be afforded by the budget-conscious and the best part is still are awesome gifts.
These gifts usually have a handmade flair or personal touch to them to reflect the recipient’s personality.
To find cheap Christmas gifts for coworkers, you can pick any present on this list.
DIY Jewelry: This is one of the best ways to make multiple gifts for cheap. You can make many types of homemade jewelry.
Mug with their name on it: Make them smile with a customized mug just for them!
Coloring Books: Coloring isn’t just for kids. Adult coloring books are extremely popular and inexpensive to pick up an adult coloring book and colored pencils.
Magazines Subscriptions: Some ideas include National Geographic or Smithsonian. Great way to find new inspiration and ideas.
A Photo Album of your Memories: This can be a physical or digital photo album. A simple way to portray your friendship and experiences together.
Journal: Write down thoughts, ideas, or quotes that they love in the journal. Pick up a plain journal at Target for $5-$10.
Stickers: Add a few stickers from your collection, some ribbon, and scrapbook papers to decorate it!
Movie Night: A movie night with popcorn and some of their favorite movies is a thoughtful, inexpensive gift that everyone will enjoy. Buy a streaming movie or pass to the local cinema.
Handmade Gifts: If you have a knack for the arts and crafts, making a handmade gift is not only thoughtful but also can be very inexpensive!
Coffee or tea from their favorite coffee shop: There’s nothing better than a cup of joe or tea to start the day off right.
A Bouquet of Flowers: Get a bag of those colorful hair ties, and tie them to the stems for an extra special touch!
Collage Frame: A collage frame can be used as a picture frame, or it can be used as a decoration on the wall.
Holiday Decor: This is an affordable and practical gift for someone who loves to decorate their home for the holidays.
DIY-ed Ornaments: Get creative with this craft and let their imagination run wild!
Homemade Treats: Who doesn’t love cookies, chocolates, or homemade baked goods? Even canned salsa or jelly make great gifts!
Stockings: With any number of crafts available to make-you can’t go wrong with a stocking full of goodies for the holidays.
Cookies: Bake up some of your favorite holiday cookies and package them in a festive container for a sweet treat. Perfect to host a cookie exchange as a fun experience!
Comic Books: It can be no surprise to some adults when they think of all the hard work that goes into creating a comic book and see the end product. What’s even more surprising is that more adults don’t try them.
Handmade Gifts from Kids: If your child loves to paint, draw, or make things with their hands-this is the perfect opportunity for them.
Cheap Christmas Gifts for Teens
Coming up with Christmas gift ideas for teens can be tough. Teens are often too old to play childish games like Monopoly or Jenga, yet they’re not quite ready for more grown-up games like Trivial Pursuit.
There are a lot of inexpensive gift ideas for teens from the mall, but teens often want something more personal and unique to show they are maturing.
If you are looking for cheap gifts for teens, you can try any of these present ideas.
Gift cards are always a huge hit with this age group! Double bonus if you can make it a fun way to spend some time together. Make sure that your teen is comfortable with this idea.
iPod Touch / iPhone / iPad Accessories: A new case, screen protector, and a few apps are always great. Whether it’s to show off or just something fun, this is a great idea.
Journal: This gift will help your teens reflect on the year and all of the good things that happened!
Fun Colors to Write With: The festive design on these pens will make teens want to use them all year round. Fun gel pens are wonderful gifts for all ages; they are inexpensive and come in a variety of colors.
Fashion Designer Scarf: This gift will help your teen express his or her individuality while also staying warm during the winter months.
Room Decorations: Checking out new colors and themes for the room is a fun way to spend some time together. Plus they may be ready for a change from their younger decor.
Makeup: Teens love makeup and skincare items, so make it their job to pick out a few new things they want.
Candles: Having a nice scent can help relax and soothe your teen before bedtime. These versatile gifts come in many shapes. It is also how teens feel more grown-up.
Hand-Painted Mug: Handpainted mugs are perfect for all the coffee and tea lovers in your house, and they are so easy to make! This can be an experience gift, too!
Handmade Jewelry: this is an affordable yet creative holiday present
Trendy Socks: These are always a great gift for anyone. Not only does it keep your feet warm, but it can be fashionable too!
iTunes Gift Card: Let them download a favorite song or album.
Movies: Movies are a great gift to give especially if it’s one of their favorites or they’ve been wanting to see it!
Clothing: The recipient will love getting some new clothes-especially if they’re trendy and stylish, or their favorite store has a sale going on that you know about.
Special Treat: A special treat is a great way to show someone that you care about them and appreciate all they do.
Cheap Christmas Gifts for Kids
Kids are the most precious gift of all. They’re also notoriously hard to buy inexpensive presents for – they normally want gifts that are outside your price range! Fortunately, these Christmas gifts will have your child smiling from ear-to-ear.
Cheap easy Christmas gifts for kids are especially not difficult to find and you have plenty of inexpensive gift ideas, – plus your bank account will thank you for it.
At the end of the day, kids don’t really care what it costs as long as they like it.
Stuffed Animals: Give them the gift of a new favorite toy that they can hug and take with them everywhere-just make sure to tuck in an extra battery for their new favorite toy.
Paper & Stickers: A package of paper and stickers is perfect for kids who love to create their own projects or write notes, letters, or holiday cards. This pack is also perfect for young ones who are just learning how to write.
Colored Pencils & Crayons: Colored pencils and crayons are a fun way to keep kids focused on their art. These pens will help them create original masterpieces.
Customized Shirts: A new shirt is a great way for kids to express their personality, and it can also be an easy outfit of the day solution when they’re running out the door.
Puzzles: Puzzles are a great way for kids to learn new skills and stay entertained on rainy days. They also make excellent stocking stuffers!
Ice Cream Variety Pack: A yummy variety pack of ice cream will make their day.
Play Doh: Kids love play doh, and it’s a great way to keep them entertained for hours! It also makes a great stocking stuffer.
Colorful Pens: Kids love to color, so give them the opportunity with some bright new pens! They’ll have fun for hours doodling on all their things.
Slime: Slime is all the rage right now, and kids can make their own with this kit.
Sippy Cups: Kids love sippy cups because they’re fun and easy to drink from! They also come in a variety of designs and colors.
Kitten: They will love this sweet little creature that they can cuddle up with in winter.
Fidget Toys: Fidget toys are a great way to keep kids entertained and focused with some fun. They come in a variety of colors and shapes, making them perfect for all ages!
Star Night Light: This was one of my daughter’s favorite gifts (even her older teen brother was jealous). Huge hit to light up the wall at nighttime.
Remote Controlled Car: A remote-controlled car is a great gift idea because it can be played indoors or outdoors. It also makes for hours of fun!
Make Your Own Soap Kit: This kit will allow your child to make their own soaps at home with some fun ingredients. They have a variety of colors and scents available which they can use to customize the soap for their own preference.
Board Games for Kids: Board games are a great way to keep entertained while bonding with their friends and family. They come in different levels of difficulty, making them perfect for all ages.
Nature Exploration Set: A nature exploration set will help to inspire your child’s curiosity and creativity. The kit includes a journal, binoculars, magnifying glass, and more!
NERF: NERF toys are classics for kids of all ages. They’re great to take on family vacations or just to play with friends.
Dolls: Dolls are a classic toy for girls and they come in all shapes and sizes. From Barbie to Baby Alive, there’s plenty of options available!
Spirograph: A Spirograph can keep kids entertained for hours. They design pictures with the help of an included pen and paper.
Rock Painting Kit: A rock painting kit will allow kids to express their creativity by decorating rocks.
Bead Kit: A beading kit is a great way to teach kids about colors and patterns. It also teaches patience as they work with the small beads
Sewing Kit: Sewing kits allow kids to create their own stuffed animals and clothes for themselves.
Drawstring Backpacks: Helpful to keep their stuff organized on outings, vacations, or events when the kids need to be entertained.
Kids love getting gifts, and these cheap Christmas gifts ideas are perfect for any child!
Best Cheap Gifts for the Foodie Cook
One of the most difficult parts about shopping for a gift is coming up with creative ideas.
This list is full of affordable gifts is perfect for that friend or family member who loves to cook and bake!
Here are some of the best cheap gifts for the foodie cook.
Charcuterie Board Set: This is the perfect gift for the foodie that loves to cook with meat. It provides an assortment of meats, cheeses, fruits, and bread in a beautiful wooden tray.
Mason Jar Set: This gift is perfect for a friend or family member who loves to cook. The set includes six pint-sized jars with lids and can be personalized with the recipient’s name.
Salt and Pepper Grinder: This set comes with salt and pepper grinders for the foodie who loves to cook.
Gourmet Spices: Spice up a friend’s cooking experience with this assortment of spices from around the world.
Frother: Perfect for milk frothing for coffee, lattle, milk shares, hot chocolates, and matcha powder. You need one of these and everyone else around you does too!
Mini Stand Mixer: This is a perfect gift for a friend who loves to cook and bake! The mixer comes with attachments such as a whisk, dough hook, and flat beater.
Fondue Pot: This pot is perfect for families that enjoy eating together! The set includes a fondue pot, forks, skewers, dippers, and dipping sauces.
Cookie Press: This press is perfect for a friend who loves to bake! The set includes a cookie press, dough sheet mold, rolling pin, and recipes.
Oven Mitts: You don’t want your foodie gift receipeint to burn their hands. Replace their worn-out oven mitts with one of these stylish oven mitts.
Hot Sauce Set: Every foodie needs some hot sauce in their fridge. This set includes 3 bottles of the hottest sauces around, plus a recipe book for beginners.
Spice Rub Set: Give your foodie friend the gift of spices especially if they love to grill or have a Traeger! This set includes salt, pepper, cumin, chili powder.
Teapot Set: This is for all those tea drinkers out there. This set includes a teapot and infuser ball.
Tea Bags: Add on to the teapot set and deliver a set of tea bags with a bunch of different flavors.
French Press: French press brewing prevents an over-extraction of flavors; the grounds only add flavor regardless of how little or how much coffee is steeped. Expand their coffee experience!
Coffee Grinder: This is for all those coffee drinkers out there who like to make their own custom blends.
Bamboo Cutting Board: Over time, we all have to replace our words cutting boards at some point. So, this makes a chop-worthy gift.
Tea Towels: These are great for drying dishes, wiping counters and so much more. Find a catchy saying they will love to display!
Sourdough Banneton Proofing Basket: If they are hooked on the sourdough trend, then they need one of these to elevate their breadmaking skills.
Bread Lame Scouring Tool: A must for anyone who makes sourdough breads!
Batter Bowl: This is a great kitchen tool for mixing batters, making pancakes, and more. It will be a welcome addition to the kitchen!
Flour Sifter: This is another one of those necessary tools in the kitchen.
Coffee Mug: For coffee lovers, this is a great gift idea!
Salt Cellar: This is a nice addition to the kitchen and it will hold those hard-to-reach salt and pepper.
Cheese Plane: This tool makes cutting cheese into perfect, uniform slices – making cooking and serving a breeze.
Saute Pan: This pan is great for frying, sautéing, and more! It’s perfect for the average home cook or budding chef.
Zester: This handy tool is perfect for adding flavor to dishes with just the slightest touch.
Meat Thermometer: This is a tool that can’t be beaten especially for the grill master. This one is by far the best on the market!.
Pizza Cutter: This is an essential kitchen tool for any pizza lover!
Ice cream scoop: This ice cream scoop is perfect for any ice-cream lover. It comes in 2 different sizes of scoops and they come in a variety of colors.
Cooking Class: Give them the gift of cooking skills-it’ll be something they can use for years to come!
Best Cheap Gifts for the Homebody
Holiday shopping can be a stressful time, but not to worry. Here are some great gifts for the person who has everything and doesn’t want anything.
Consider these cheap, homey gifts that will please any loved one or host.
Weighted Blanket: For those who love to cozy up with a blanket, this one might be the perfect weight and size for them.
Hot Cocoa Mix: This is an easy way to ensure that your loved ones have a delicious treat from their kitchen.
Wool Socks: This is a great item to have on hand for the winter months.
Tea Infuser: This one will help your loved ones in their journey of self-discovery.
Homemade Snow Globe: Grab a this snow globe kit and make your loved ones their own little winter wonderland.
House Shoes: A pair of these comfortable shoes will be something your loved ones can wear around the house.
Cozy Blanket: These blankets are made to keep you warm and cozy during those cold winter nights.
Popcorn Popper: This is a fun gift that they will all enjoy especially on movie night.
Jigsaw Puzzle: Give them a puzzle that will keep their mind sharp and occupied.
Board Games: More than likely they prefer to have people over to enjoy good old-fashion board games and a night of laughter with friends!
Comfy Pajamas: A new set of cozy pajamas is sure to be a hit with the kids.
Robe: A new robe is a great gift for those who love to lounge around in their comfiest clothes.
These are some Cheap Christmas Gift ideas for those who are on a budget!
Best Inexpensive Gift Ideas for Spa Lovers
The perfect gift for anyone who loves to pamper themselves is a spa gift card. Spa gift cards are the perfect present because it gives the recipient freedom over what they would like to do during their stay.
There are many different spa gift cards available on the market, so it is easy to find one that suits the recipient’s personality and budget.
If you can’t find a group of people to go in on this idea, then turn their home into a spa experience.
Bath Salts: These are perfect for the person who loves to relax and take baths. All they will need is a nice scented candle or bath bomb, their favorite book, and these salts to make themselves feel like royalty.
Candles: These are perfect for the person who loves to relax and read, or just has a nice smelling home. There are many different scents available so it is easy to find one that suits the recipient’s personality.
Aromatherapy: This gift idea is perfect for those who want an inexpensive yet thoughtful gift. There are many aromatherapy oils to choose from, but the two most popular would be lavender and peppermint
Diffuser: These are perfect for someone who enjoys a deep and restful sleep, as well as those who enjoy shut-eye at night to take away any stresses or worries. A few drops of these oils in a diffuser or humidifier will soothe the recipient and ease them into relaxation before bedtime.
Tea: This is perfect for the person who enjoys a good cup of tea. A nice box of loose leaf teas is sure to be appreciated and used for many, many years to come!
Cookies: This may seem like a typical and uninspired gift that most people would choose, but it is thoughtful and they will appreciate the thoughtfulness.
Scalp Massager: This is great for those with a sensitive scalp. It helps to soothe the skin and will leave them feeling relaxed
Shower Speaker: This is a great gift for someone whose favorite song isn’t Top 40. They will be able to listen to their music while they shower.
Manicure Dip Starter Kit: This is a great gift for those who love to paint their nails
Hyaluronic Acid: Help maintain the hydration of the outer layers of skin, which helps to improve its appearance.
Hair Mask: This is a great gift for someone who loves to pamper themselves, especially if they are in need of moisture.
Lip Sleeping Mask: A gentle overnight moisturizer for dry, sore lips.
Microfiber Hair Towel Wrap: This is a great gift for someone who spends a lot of time in the pool or at the beach. It is quick and easy to help dry your hair faster.
Handheld Massager: Seriously, this is the best gift ever. Plus the cost has been coming down each year.
Cheap Gift Ideas for the Fashionista
If you are looking for an affordable, fashionable gift idea that is also fun and creative then this list has something to offer you.
Here are some ideas for the fashionista on a budget.
Scarf: Scarves are always in style and can be found anywhere. You can get a nice one for only about $25, depending on the brand.
Tote bag: A tote bag is a necessity for school, the mall, and even just running errands around town. You can find them anywhere from $5-25 depending on what type you want.
Pandora Bracelet: The Pandora bracelet is a beautiful piece of jewelry that can be bought with any budget in mind, and it’s a great option for people who want to give something that will last. Great gift to add charms each year.
Earrings: Earrings can be a great gift for someone you know who is really into fashion. You can find them at the drugstore or even in some clothing stores, and they cost anywhere from $5-20.
Belt: A belt is great for someone who doesn’t have too many accessories, or if you just want to spice up an outfit with a new piece of jewelry.
Hair Clips: Hair clips are a great gift for someone who spends most of their time at home because you can clip them in your hair to keep it out of the way while you do chores. Also, great for those trendy messy up-dos!
Felt Hat: A felt hat can be a great gift for someone who goes to the beach a lot, or just likes wearing hats because it’s cold outside. They last longer than other types of material and they can be a really inexpensive gift.
Jewelry Dish: Find a small dish at the dollar store and decorate with paint or fabric to make it look pretty!
Re-gift Jewelry: Add jewelry from your old collection that you don’t wear anymore (maybe some old costume jewelry?).
Sunglasses: Sunglasses are one of the most popular Christmas gifts, and they can be found cheaply at many stores. I bought a pair for under $15!
Watch: Watches can be found at many stores for a cheap price. Watchmakers are competing to lower their prices as they try and go against the trend of cell phone watches, which is why you can find a nice watch for under $10.
Sweatshirt: A good sweatshirt is a woman’s best friend. It will keep you warm during the winter and can easily be dressed up or down depending on what you’re wearing-It doesn’t have to be too expensive either, with most stores having sales or clearance racks that are perfect for picking up gifts.
Nail Polish: The best thing about nail polish is that you can buy it in a lot of sizes, from the little bottles that are perfect for stocking stuffers to larger ones that come in packages of 5 or more. Great stocking stuffers!
Yoga Pants: We all know yoga pants are a girl’s best friend. But, y’all the prices of these yoga pants are amazing, and did I mention how many I have given as cheap gifts?!?!
Winter Gloves: Some people might think winter gloves are odd to put on a Christmas list, but they make such great stocking stuffers!
Shopping Bag: This is a great present for someone who likes to shop! I know what you’re thinking, “how do they not have one?”
A New Outfit: Even if the person you are buying for is not a fashionista, clothes still make great gifts. And if you know what their favorite style of clothing is then nows the time to indulge them in some new clothes!
Some suggestions are old and some are new, but all of them will be perfect for the person you want to give a gift to.
Cheap Gift Ideas for the Makeup Artist
Check out these cheap beauty Christmas gifts for the makeup artist on your list. These are great for anyone that has a budget of $10 or less.
Makeup: Find out what brands your friends, family members, or classmates like and buy them the makeup in that brand. You can find this information at their favorite retailers or by asking around to see which brands they wear.
Nail Polish: Buying nail polish as a gift is a great idea because you can buy them the exact color they want to wear and it’s usually not too expensive.
Perfume: If your budget is $10 or less, you can buy a nice perfume that smells great and it will be something they use often.
Bath Bomb: If you’re shopping for someone who needs to relax, then a bath bomb is the perfect gift.
Specialty Coffee Mug: You can find these for fairly cheap and they’re something that people will use every day so it’s great. Find a fun coffee mug with an artsy flair!
Lip Stain: Lip stains are a really popular product because they’re long-lasting and come in so many colors. This is perfect for someone who loves makeup!
Makeup Brushes: Any good makeup artist knows the quality of the brush makes a difference. You can find a decent brush at an affordable price!
Silicone Makeup Sponges: These are perfect for applying makeup evenly and providing coverage.
Reusable Beauty Products: For the eco-conscious, find plenty of reusable beauty products. You will be surprised at this list.
Gather all of these makeup supplies and put them together for a creative gift basket!
Cheap Gift Ideas for the Athlete
Sweating is gross, so this guide has come to help! It’s tough when you have an athlete in the family because they are always on the move.
Athletes will have to replace their equipment and clothing because of use.
Here are some nice, thoughtful gift ideas for the athlete on your list!
Water Bottle: Sometimes I feel like I can never have enough water bottles!
A pack of compression pants: I wear them for my sport because they help with the swelling and protect against injury.
New backpack: I use mine all of the time!
Headphones: These allow people to listen to their favorite music or podcast while getting the sweat on.
Full-zip fleece jacket: I love being able to bundle up when it gets cold! This is a thoughtful guide for the athlete on your list for before and after workouts.
Polarized Sunglasses: These help protect eyes from glare and add style to any outfit.
Music Subscription (ad free): This is a great gift for the athlete who loves music!
Yoga Mat: Yoga mats are great because they’re environmentally friendly and also come in a bunch of different colors. Sometimes it’s nice to be able to stretch out and do some poses on your own. Plus the experts say we should stretch every day.
Sports Watch: Preferably with stopwatch and alarm clock. THey need to time those tabata crossfit workouts.
Running Gloves: These are thoughtful gifts for someone who loves the outdoors and running.
Foam Roller: A great gift for the athlete who is looking for a little bit of extra relief.
Folding Bike: This is a thoughtful gift idea for someone who loves to bike ride but doesn’t have space for a bike. This one is more expensive, but a great idea to go in with others on!
Sports Massage Oil: This is a thoughtful gift for the runner, cyclist, or anyone who gets sore muscles. Pick a hand massager to go with it!
Camouflage Pillow: This is a great present for an outdoorsy person who has their head in the clouds.
Good Socks: Have you ever smelled the stinky socks?!?! Enough said.
Sports Tape: The runner in your life will need this present to keep them on the go.
Sports Bra: This is a great present for someone who participates in any activity that requires it! One that fits well and is made of quality materials. Plus an affordable price!
Fleece Headband: This is a great present for the runner in your life who also likes to wear their hair up when they’re not running.
Yoga Pants: This is a great present for someone who likes to keep their activities active. Or just wears yoga pants every single day to be trendy. No one needs to know why! These are my favorite brand.
Athletic Shorts: This is a great present for the person in your life who likes to wear their athletic shorts outside of working out. Plus, come on it’s not like they’re going to be wearing them over clothes so people would notice.
Resistance Bands: These are great for the person who likes to keep their workouts active, but doesn’t have a ton of space.
Light Set of Weights: Everyone needs to have some weight training as part of their workouts. Pick up three or five pound weights to help them reach their workout goals.
Armband for Phone: When you workout, you may want to keep your phone with you to track the steps or distance you worked out. This is an armband to keep your phone and simple enough to change your workout music.
Latest Fad Cookbook: In need of a great gift idea for the person in your life who likes to cook but always seems to have not-so-perfect dishes? This is perfect! Gift them this latest fad cookbook and they’ll be able to make all the popular, Instagram-worthy dishes that you see on TV.
Sneakers: Maybe you are lucky enough to score a pair of comfortable, breathable athletic sneakers on clearance!
I’m sure they’ll be appreciative of any one of these gifts!
Cheap Gift Ideas For Teachers
This list of cheap teach gifts for Christmas will help you choose a thoughtful and useful present that won’t break your budget.
Essential Oil Set: A true favorite for teachers who like to use aromatherapy in their classrooms or at home. This is our favorite essential oil set.
Stress-relief Hand Sanitizer: Teachers are always on the go, so they can use a little help to keep them stress-free. Plus, germs are no fun for anyone!
Personalized Mask Lanyard: Personalize your teacher’s mask with their name, school mascot or work logo.
Tiger Balm: This is a classic product for teachers and athletes alike! Tiger balm will help soothe your aches and pains.
Lounge Pants: Nothing reminds a teacher of home like their favorite TV show! A few years ago my mom gave me a really cute pair of lounge pants and I still wear them. The cut is oversized with pockets for my phone and remote which make it perfect for relaxing on the couch.
Smart Plugs: These plugs can be controlled on an app from anywhere. That means the teacher doesn’t have to worry about forgetting to turn their lights off before they left for work.
Personalized Stamp: A teacher’s stamp of approval is the best kind. This personalized stamp will help teachers quickly get through their paperwork.
Amazon Gift Card: Teachers deserve to take a breather and use some of their hard-earned cash on themselves. A gift card is the perfect way for friends or family members to say “thank you.”
Wireless Headphones: Music is a great way to get the energy going and keep kids psyched up, but it can be tough when they’re working on group tasks. Wireless headphones like these ones from Sony
Day-by-day Calendar: The last thing teachers need is to scramble for a blank piece of paper whenever they want to jot down notes. The day-by-day calendar is perfect because it’s got enough space for writing, but it’s compact enough to tuck into a drawer.
Magnetic Dry Erase Whiteboard: After all the long hours spent at school, who wouldn’t want their own personal whiteboard where they can write, draw, and erase?
Lunch Boxes: There is nothing better than a home-packed lunch. These stainless steel containers are compact enough to carry with you, but they’re also roomy enough to hold a sandwich, fruit, and veggies.
Educational Activity Books: If you’re looking for something that’s not only fun, but chock full of learning activities and information, these books are perfect for further learning.
Cheap Christmas Gifts for Mom or Her in your life
All of these are great inexpensive ideas for buying on a budget
Shopping for a great gift for women or moms can be hard, but not too much with these affordable options.
Little Succulents: This is a cute DIY gift. All you need are succulents, a pot with dirt, and some other accessories if desired.
Bath Bombs: These are great for anyone, including people who enjoy a good bath every now and again. They come in various scents so you can find something that is sure to please.
Chapstick: This is perfect for the person in your life who always has chapped lips or complains about dry skin on their hands when they are outside too long during winter months.
A Book: It may seem like the most unimaginative gift, but it’s perfect for someone who enjoys reading and is looking for something they haven’t read yet. Books are also a great way to get someone hooked on a series so you can recommend their next read.
Slippers: These are perfect for the person in your life who is constantly complaining about how cold their feet are.
Candles: This is a perfect gift for someone who enjoys relaxing or reading after dinner and the scent fills up the whole house with aromatherapy benefits.
A Scratch Off Map: This is a great gift for someone who enjoys traveling or seeing the world. It’s very personalized and they can see how many countries they have visited.
A Coffee Mug: This is a great gift for the coffee lover in your life. You can put anything on it such as their favorite book, television show or artist and they will be reminded of you every time they drink their coffee.
A Memory Blanket: This is a great gift for people who are always cold and it can go with them anywhere in the world because it folds up easily.
A Personalized T-shirt: This is a great gift because it’s very personal and you can put anything on the shirt that has meaning to them such as their favorite sports team, favorite food, or where they have traveled.
A Personalized Finger Drum: This is a great gift for anyone who loves to play drums because it has their name engraved right on the drumhead.
Cheap Christmas Gifts for Men
The following items are inexpensive and will make any man, dad, or boyfriend insanely happy! The cheapest gifts can be the best!
Here are some budget-friendly, manly, fun, and creative ideas for Christmas presents.
A New Shirt: You can find many options for cheap shirts. Grab one with a funny saying he would enjoy for an out-of-the-park win!
Belt: Belt prices vary by brand, but can be found for as low as $10.
Wallet: Wallets can also vary by brand and cost, but often end up being around $15.
New Socks:: Many men enjoy their sock collection. You can always add on to replace their worn-out socks.
A Tie: Ties can be found for as low as $5.
Watch: The watch market is a tough one to navigate, but if you know your partner’s style and budget beforehand it can be easier to find what you’re looking for.
A Tie Clip: You can usually pick one up for $5 or less, and it’s something that he’ll wear every day!
Old-school Vinyl Record Player: Old school vinyl is making a comeback and can be found in all sorts of different styles.
Latest Board Game: Board games are always a fun gift idea. You can pick up the latest hot game for less than $20
A Good Book: A good book is always a great gift idea. You can find them for as low as $5 and books are something that never goes out of style!
Cash: Let’s be honest… most men like to have the cash to spend as they please with no questions asked.
Cheap Christmas Gifts for Friends
You may not have a lot of money for this Christmas, but that doesn’t mean you can’t give your friends something thoughtful.
These inexpensive items may not be the most lavish of presents to give a friend this year, but they are sure to be appreciated and useful!
Whimsy Kit: A Whimsy Kit is a small package that includes activities such as drawing, coloring, and collaging. It can be used in classrooms or at home to relax and have fun.
Poster Board & Markers: A poster board and markers are perfect for making holiday cards to send out or decorating with a festive design.
Fun Scrapbook Pens: Fun pens are a wonderful gift for any age to bring color to their writing, coloring, or journaling.
Scented Candles Kit: Scented candles can be used for the holidays, but they also make a great gift for any time of the year. The smell will bring a warm and cozy feeling into your home.
Gold Foil Blanket: A gold foil blanket is perfect for snuggling up in the car when you are stuck in the car!
Cute Pillow Case: A new pillowcase is a fun way to change things up in your bedroom or living room. The best part about these gifts are that they can be given with other items, like the gold foil blanket or a fun pillow.
Comfy Socks: When it’s cold outside, there is nothing more comforting than a good pair of socks. These make a great gift for someone who spends most of their time at home or just loves to relax.
Bracelets: Jewelry is a great way to show someone you care. Bracelets are not only cute but they go with any outfit!
Christmas Ornament: A Christmas ornament makes for the perfect stocking stuffer. They are usually inexpensive and they can be used year round to decorate your home for the holidays.
Christmas Fun Pack: It is always fun when Santa sends a surprise in the mail, so why not surprise your friends with a Christmas Fun Pack!
Shower Steamers: These will make a great gift for someone who is your best friend, especially if they like to take long showers.
Flashlights: These are fun and practical gifts that will come in handy during the dark days of winter.
Tissue Box Covers: A unique and inexpensive gift for the person who has everything, these tissue box covers will make any house seem a little more homey during cold winter months.
Chocolate: For the person that has everything, you can’t go wrong with some chocolate.
Cheap Christmas Gifts for Coworkers:
A quick, easy, and affordable way to get the perfect gift for your coworkers this Christmas is by giving them a coworker appreciation gift basket.
These inexpensive gifts are great for bosses or employees. They can be personalized so it’s a gift that will really stick with your coworkers.
Planner: This is a great way to give your coworkers something they will really use. They can write down their goals, schedule, and use it as a to-do list.
Personalized Stationery: This is such an adorable idea and can be so much fun for everyone involved. These are the perfect gifts that will make your coworkers feel special this holiday
Putting Green: This is a great gift that they can use to practice their putting skills in the comfort of their own office.
Desk Organizer: A desk organizer is a great way to start your day off with a clean and organized workspace.
Timeless Candle: This candle helps you enjoy the holidays or winter season while relaxing in the office.
Coffee Mug: Every office needs a good coffee mug to stay energized and motivated throughout the day.
Personalized Mouse Pad: You could get them their favorite movie, sport or hobby as a personalized mouse pad and they’ll enjoy using it every day at their office.
Luxury Pen: This is the perfect gift for that person who has everything and needs something to help them write down their thoughts and ideas.
Desk Lamp: A desk lamp can help you read in your office when it’s dark outside so all the daylight hours are available for working on projects or catching up on paperwork.
Ink Pen: This is a great gift idea for anyone who likes to write or doodle. You could get them this as a refillable pen and they can use it to write down their thoughts or ideas.
Laptop Tote Bag: This is the perfect gift for anyone who likes to travel and needs something stylish but functional to carry everything in one place.
Plant pot & planter: This is a great gift for someone who likes to spend time in their garden or on the porch. You could give them this as an opportunity to grow something new and have something beautiful in their office that is all their own.
Journal: This is a classic gift that people like to get for themselves or others. You can find many different styles and sizes of journals, making it easy for you to find the perfect one for your recipient.
Watercolor set: This is a great gift if you know someone who loves to paint or draw. It is an opportunity for them to tap into their creative side while also having the materials that they need to create something beautiful or special for someone else.
Keychain: This is a great gift for anyone because everyone needs keys! You can get them a keychain that has their name on it, or you can get them a cute one for someone they love.
Laptop sleeve: This is a great gift for anyone who has to have their laptop with them at all times. They come in so many different colors and designs, so you can find one that fits your friend or family member perfectly!
Monitor riser: If you know someone who has a desk job, they’re probably struggling to stay focused on their screen. This is the perfect gift for anyone who spends time at work looking down all day!
Best Cheap Christmas Gift of them All – Gift Card:
A gift card is a prepaid credit or debit card that can be spent in any number of stores, restaurants, and other venues as desired by the purchaser.
This option is great for people who are the “hard to buy for” type.
Even a $10 or $20 gift card to somewhere they like is better than a gift to sit on the shelf unused.
Giving a gift card is always an easy way out, but it can be more useful than materialistic gifts they may not use.
You can never go wrong with a gift card to their favorite store!
You can Buy Cheap Christmas Presents that Look Expensive
I know that this time of year can be so busy and stressful. It’s hard to find the perfect gift for everyone on your list, especially when you have a tight budget. But there are so many fun and creative ideas that won’t break the bank.
You’ll find the perfect gift for everyone on your list!
Hopefully, you can find cheap Christmas gifts under $20 or less. Most of these power ideas you can pick up on Amazon or Etsy.
Christmas is often a time where people try to get the best gifts for their loved ones. In order to make these gifts more affordable, it’s smart to think about ways that can lower expenses.
One way to do this is by choosing gifts that can be combined with other items. Or even choosing a no gift Christmas.
It is always fun to give a gift to someone special on Christmas. However, sometimes you feel uncertain about what the perfect present is for somebody else.
We hope you’ve enjoyed our cheap but thoughtful Christmas gift ideas!
With these items, your loved one will have a great Christmas! Be sure to check our blog for more money saving tips!
Need More Inexpensive Christmas Gift ideas?
Know someone else that needs this, too? Then, please share!!
Celebrities are an interesting bunch. Some celebrities are content to slide under the radar while keeping out of the public spotlight. Others seem hell-bent on traveling down paths of self-destruction, which many believe will ultimately lead to a lengthy stint in jail – or worse. After polling an entertainment forum, for examples, these celebrities have shocked the world by staying out of trouble or simply staying alive!
1. Ozzy Osbourne
This legendary rocker is still going strong against all odds! As somebody who has dabbled in as many illegal drugs as Ozzy has, countless music fans are shocked that his heart still manages to function. Interestingly enough, according to one fan, his longevity has been such a hot topic of conversation that a team of doctors has vowed to investigate Ozzy – post-mortem!
1. Ozzy Osbourne
“There is literally a team of Cambridge doctors who are investigating how Ozzy is still alive,” the fan reports. “They’ve made arrangements with him to dissect and study his body after death.”
2. Chris Brown
The much-maligned musician found himself in legal and ethical hot water after allegations of abuse by his then-girlfriend Rihanna surfaced in 2009.
2. Chris Brown
Based on Rihanna’s allegations, music fans worldwide are still stunned that Chris Brown didn’t end up behind bars for a long time. More than one person referenced Rihanna’s photos taken after the alleged abuse, which is unsettling.
3. Bam Margera
The one-time star of MTV’s Jackass TV series has reportedly hit rock bottom in recent years. The party lifestyle has caught up with Bam Margera, and people are bracing for bad news shortly. It’s a sad state of affairs for somebody once on top of the entertainment world.
3. Bam Margera
According to one person who got to know Margera while in rehab, the former star “blames everybody but himself” for his recent misfortunes.
4. Andy Dick
Countless people are shocked that former Hollywood star Andy Dick hasn’t died or gone to jail. The over-the-top comedian-turned-actor made a name for himself by pushing comedic boundaries.
4. Andy Dick
An endless stream of sexual assault allegations later in his life has thrown Andy Dick’s career off track. His rap sheet is a mile long, and we’re with the consensus: how is he still living a life outside of prison?
5. Every Member of Mötley Crüe
It’s no secret that Mötley Crüe was the perfect picture of 1980s rock excess. They played hard and partied even harder, leading many people to wonder how they’re all still alive in 2023.
5. Every Member of Mötley Crüe
Although most of Mötley Crüe suffered serious drug-related emergencies, they’re all alive and well today. Many fans of the band will freely admit that this is shocking.
6. Bill Cosby
After being convicted of drugging a woman, Bill Cosby did spend three years in prison. However, as of 2021, the ex-TV star is free after serving his sentence.
6. Bill Cosby
People around the country are still outraged, as many believe he received nothing more than a “slap on the wrist” for his misdoings. Many also point to the fact that dozens of women have accused Cosby of drugging them, yet only one woman managed to avoid having the charges dismissed.
7. Gary Busey
One fan of the award-winning actor puts it plainly. “He’s living proof that a human body can keep on moving long after the brain has been destroyed,” he states. In 1988, Busey was severely injured in a motorcycle accident.
7. Gary Busey
Gary Busey was not wearing a helmet in the accident and suffered permanent long-term brain damage. However, he’s still alive and well over 35 years later.
8. O.J. Simpson
Of all the celebrities on this list, nobody is more polarizing than O.J. Simpson. After being acquitted of the 1994 murder of his ex-wife and her friend, many worldwide were shocked that he managed to avoid jail time, despite all evidence pointing to him.
8. O.J. Simpson
While O.J. Simpson eventually served time behind bars later in his life for stealing sports memorabilia, he was released from jail and is reasonably active on social media. Nevertheless, many still argue that he hasn’t paid his debt to society.
9. Marilyn Manson
Despite having millions of fans, there is an outspoken minority who can’t believe Manson hasn’t been put behind bars for the rest of his life. “I made the mistake of reading his autobiography years ago,” one person confesses.
“It’s almost 300 pages of him boasting about terrible things he’s done in an ‘I’m such a weird artistic genius’ fashion.”
9. Marilyn Manson
As far as his autobiography goes “I hate to think what his lawyers told him to leave out.” So add Manson to the list of celebrities. We wouldn’t be surprised to be arrested in the next few years.
10. Keith Richards
Keith Richards from The Rolling Stones is no stranger to saying yes instead of no with substances known to kill a man. However, he’s still kicking and touring.
10. Keith Richards
One quoted the late Robin Williams, “I know one day we will all be dead and gone, and it’ll be Keith Richards with five cockroaches.”
This thread inspired this post.
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I asked, as I sometimes do, what personal finance question my friends and Twitter followers had for me. It was a slow day on the internet and the responses flooded in.
My friend Neil asked, “what do you think about real estate?” A broad question, indeed, and I got him to clarify. “You know… should I buy a house? Why not just rent?”
Why not indeed.
The Dream of Home Ownership I too bit off and gulped down the dream of home ownership when just a small lass. When I graduated from college, I moved to a Southern U.S. city — Charlotte, North Carolina — and like any young professional often in the company of older, established professionals — saw immediately that they all owned houses. And that this was very good.
What they had, I wanted: the houses with the staircases and the pretty backyard decks and the grand old trees in the back and the guest bathrooms with bowls of little colored soaps. I wanted a kitchen, with wide countertops and an arching clamp-hose faucet over the deep sinks and big drawers for flour and pot lids and recycling bins. And art on the walls, and a king-sized bed, and a walk-in closet, and a master bath.
My dream was only made more intense while shopping for condos in New York City, then in Reston, Virginia, with my 20s-era boyfriend. When he went to sign his first title, I went too, and we went out to lunch afterward at a restaurant on 54th street; we spent $112 and when I ate the tiny plate of tiny after-lunch sweets (a little cheesecake, a little truffle, a little gelee), I felt I’d arrived.
Years later, after the boyfriend, I became pregnant and my now-husband and I shopped for homes. My stories of those searches are intense and full of longing and stress; but by my fourth month of pregnancy I was living in house all my own. I vowed to never move.
Tip: Compare mortgage rates from multiple lenders for new home loans and mortgage refinance loans.
Other People’s Dreams I am — I was — the classic case for home ownership. I live in a small city and, when I bought the house, prices were reasonable; my mortgage payment is now less than many pay for renting an apartment. I love working on the yard and painting walls and I even tiled my bathroom myself (with lots of structural help from my father and husband). My husband is handy, and can run wiring and solder plumbing and he built a whole room in the basement. We’re the home ownership success story (though admittedly we have a lot more work to do, and no walk-in closet, no master bath).
But for many people, home ownership should remain the stuff of other people’s dreams.
I think my friend Neil is a good example. His ex-wife longed to buy a home in Los Angeles, where they had made a home after Neil’s upbringing in New York City. The situation was probably even more intense for her than for me in Charlotte; their friends and colleagues owned expansive ranch-style show-homes and sweet artsy bungalows, in neighborhoods where the price-per-square foot probably neared four digits at the peak of the market. The mortgage on those homes would require all of one middle-class salary.
Even for the more economic choices, prices were high and there was no clear benefit to buying over renting; in fact, most mortgages would be more than the cost to rent a nice (and low-maintenance) apartment.
Neil wasn’t good with a hammer or a chop saw, nor did his wife have any desire to keep a fine vegetable garden. There was no dad around to rip out old bathroom floors or teach Neil to solder copper pipes. Neil had no dreams of living in his home forever with his growing family; to date, he has no children and he’s now divorced; he’s not sure if he’ll stay in LA for the rest of the year, let alone the decade. For him, home ownership is someone else’s dream.
Should I Buy a Home? For me, Neil’s question was easy. “No,” I said finally. “I don’t think you should buy a home.”
“But isn’t that the goal?” he asked me. “Isn’t that what you’re supposed to do?”
Well, maybe. But I’ve found my own definition of “getting rich slowly” is often made up of doing few things that one is “supposed” to do; for me, living a double income, office job lifestyle is one such “supposed to” I’ve discarded. For Neil, I prescribed letting go of that “supposed to” of buying a home.
How to Know When You’re Neil Are you Neil? That is to say, should you too avoid adopting the dream of home ownership? Here are a few signs you may be Neil:
You are still a transient. Of course, we know I don’t mean “homeless person.” I believe many of us today graduate college (or high school, if college wasn’t the path for you) as transients, expecting to live in one place for a few years before trying out another, and another, and another, until one feels like home (or until you fall in love with someone who’s rooted to a place, giving you a graft and rooting you, too). If you’re not sure yet if this place is going to be your home for more than the next few years, home ownership is not for you. With closing costs and the uncertainties of the real estate market, it’s very difficult to come out of a two-year home ownership transaction without losing money as compared to renting.
You have no desire to engage in home and garden upkeep. While some such people might hire gardeners and contractors to fill in the holes in their handy skills and passions, most of those who don’t care to pick weeds or fix fences or mow lawns or plant apple trees are better off with an apartment. Purchasing a condo might be an option, if you don’t say “yes” to any of the other items in the “are you Neil” list.
The market in your favorite neighborhood doesn’t make sense. If the cost of a monthly payment on a mortgage would be greatly higher than the price of a two-bedroom apartment or other rental suitable for your family’s needs — say, more than 25 or 30% higher — it’s probably not a good time to buy. While indeed mortgage interest deductions and home buyer credits and the time value of money might be squished around to make the comparative cost similar, do remember that life is uncertain and markets fluctuate and maybe you should wait a bit — or look around for a more sensible neighborhood — before buying something.
You’re not sure about your career or your job. Maybe you’re considering going back to school to become a sommelier. Maybe you’re pretty sure your boss wants to retire and sell the company. Maybe you just don’t love your job and you’re looking around for something new. If you’re not fairly confident your next few years won’t include a significant change in income, it’s probably not a good time to engage with the home ownership dream.
Your relationship with your partner is rocky. I’ve been watching several of my friends deal with the tough decision over what to do with the family home when a relationship is over. In one case that worked out for the best — the family made a nice profit from the sale. But that was a rarity. If you’re married, you might end up having to sell and take a significant loss, even if you’d rather stay in the house solo; if you’re not married, things could be even more wonky. One woman I know lost her grandmother’s home after a pre-marriage breakup (with someone who obviously turned out to be enough of a jerk to keep her grandmother’s home, though that analysis is one-sided and second-hand, so take it with salt). Be honest with yourself, and know that, much like puppies and babies, houses do not fix broken relationships.
You would have to cash in retirement or emergency savings to buy the house. A home buying fund should be separate from those savings for emergencies and retirement. You’ll have more emergencies, in all likelihood, with a home than without. And you know how we feel about retirement savings. If your dream is that intense, then you can use your intensity to fuel your frugality while you save up for the down payment.
It also makes sense to run the numbers through a rent vs. buy calculator to see if the results would influence your decision one way or another. Have you struggled with the decision to rent or buy? Where did you come out on the Neil/not Neil spectrum?