All you need is a phone!
Wordless Wednesday: Dream Home Alert!
Selling Your Unused Junk For Extra Money
Is your home feeling cluttered? Are you one of those types that is bad about impulse buying? I am. I buy a bunch of cheap junk from China on eBay, then never use it. I buy a bunch of books from our local used book store, then never read them. My boyfriend buys CDs and vinyl records. My sister is totally addicted to buying clothes…then not wearing them. We all have our vices. We also all have those times when we could use a little extra cash. Maybe you’re saving for a vacation, or are trying to make an extra payment to get rid of debt, or have a medical or auto emergency. Maybe money is just a little tight this month. Whatever your reason is, did you know that you can sell a LOT of the junk that you have laying around? For a list of things to get rid of that will make you some extra cash, read this post by Michelle Schroeder-Gardener at Making Sense of Cents:
-Go to eBay, Craigslist, or Facebook, a thrift store, consignment shop, or used book/media store to sell stuff. You can also host a garage sale.
-Items to sell: Clothing (consignment shops, Plato’s closet, designer thrift stores)
-Electronics and appliances- if they don’t work, sell them for scrap metal
-Furniture
-Books, movies, and CDs
-Unused gift cards
-Sporting equipment
Also, check out iPhone apps like Vinted (for clothes), or Letgo- it’s a great way to get rid of junk and have some extra money.
The Closing Process: How To Wrap Up Your Mortgage
So, you’ve found your dream home, made an offer, and ad it accepted. Excellent! But where do you go from there? How do you navigate the closing process and finalize your mortgage? If the whole thing seems confusing to you, that’s because it is. A good Realtor will be able to handle all the ins and outs, but it’s important to know what’s going on. Read this detailed closing guide by Brian Martucci at the Money Crashers blog for help! He takes you through the entire process, as well as explains what documents you will need, and what types of closing costs you will have to pay. Check it out here!
Friday Fun Video: Falling Water Home Tour
By the famous Frank Lloyd Wright!
Saving The Most On A Mortgage
It’s no secret that banks charge an insane amount of interest on any loan they give out. Especially for mortgages. In fact, for many years, you’re not actually making payments on your home- you’re just paying the bank thousands of dollars in interest only. Which is just crazy! For tips on how to avoid this and save up to $100,000 on interest, read this article by Anita at Live Like You Are Rich:
What did we decide? Ultimately, because we didn’t know what the future held, and for more financial security, we decided to go with a 15 year loan but we pay an additional couple hundred dollars a month towards principal. We are on track to have our home paid off in about 10 years. This will save us $100,213.35 in interest alone.
Things To Never Pay For Again
It’s absolutely okay to have money that you spend on things that you want, rather than things that you need. I love buying books, makeup products, and going on outings- the zoo, summer festivals, museums, day trips, and vacations. That’s what I love, and I’m willing to spend a little bit extra to travel and have things that I like. But I budget my money, and make sure I can afford it. And that’s fine! However, there are tons of items out there that people waste MILLIONS of dollars on each year, and I’m guilty of some of them. They won’t actually make you happy, and you won’t miss them when you stop buying them. For a list of things that frugal people never purchase (at least, not at full price), check out this post by Jennifer at The Intentional Mom:
-Bottled water- a complete waste of money, it’s all literally tap water in a plastic bottle.
-Paper cups or paper plates- they’re convenient for a BBQ or picnic, otherwise, stick with reusable plastic/glass.
-Household repairs- there are some instances where you should call a professional, but most simple repairs can be learned from Youtube.
-Late fees, speeding tickets, parking tickets- completely avoidable.
-Movie rentals or books- go to the library for free!
Wordless Wednesday: Black Multilevel Home
Biggest Money Wasters
We all have our guilty pleasures. I love buying cheap, useless junk from eBay and getting used books from thrift stores. Some people love going shopping for clothes when their closets are full. Others waste hundreds of dollars a year on power ups for iPhone games. And it’s okay to treat yourself- it’s your money, and you should spend it how you like. However, it’s never useful to just pour your hard-earned cash down the drain. The $150 you spend on eBay this year could have been used to buy a plane ticket. That shopping spree could have been a payment on a brand new car. There are usually way better investments for you money. For a list of things to just stop buying, check out this post by Jacob at I Heart Budgets:
-Credit card interest- buying something on credit if you NEED to (like hospital bills or auto emergencies), or for getting rewards like cash back or airline miles is fine. However, without having the money to back it up, you soon can find yourself thousands of dollars in debt, and waste money by paying the interest.
-Appetizers at restaurants- they cost as much as an entree, and the entree portions are usually huge enough where you don’t need the extra food.
-Overdraft fees and ATM fees- budget your money and plan ahead.
Mortgage 101
If you are just now beginning your journey to buy a home, you probably have a lot of questions. You’ve probably heard terms like “adjustable rate,” “debt to income ratio,” “FHA loans,” and others- but you don’t really have any idea what they mean. If you know absolutely nothing about getting a mortgage, let alone the different types, then you need to read this guide by Elizabeth Bennett Colegrove at the Reluctant Landlord. It’s an easy to read post that outlines exactly what you will need to get a mortgage, as well as different types of loans you may qualify for. Check it out:
FHA Loans:
First time home buyer
One allowed
Only 3.5% down payment
USDA Loans:
First time home buyer
Available in underprivileged and low income areas
0% down
Strict appraisal guidelines