Key Considerations for Smooth Wealth Transfer Planning
By Tim McMahon |
Teach Your Kids About Money Management
Learning to manage money is an essential life skill that impacts every stage of a child’s development. Children can begin to understand the role of finances in family life from a young age. Age-appropriate lessons can help them become financially literate and prepared to handle income and spending as they become young adults. Here are some ways to train your kids how to manage money.
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4 Ways to Save on Internet Expenses
These days, many families have to make do on reduced budgets due to a reduction in the number of hours they are working because of the virus. With the rising costs of various services, this can certainly be a challenge. However, not every service is expendable. You can’t really be without internet service if you want to live and work in the modern world. Unfortunately, sometimes gaining access to the internet can also be expensive. Thankfully, there are strategies you can use to save on internet expenses for your household.
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4 Types of Trusts That Can Protect Your Assets
While it’s not something most people want to think about, it’s always a wise strategy to consider what would happen if you were to pass away at some point in the future. It may be uncomfortable, but it must be done to help protect your family if such a thing were to happen when you don’t expect it. One way you can protect your family is by setting up a trust for your children. That way, your assets can be preserved for them. However, there are different kinds of trusts you should be aware of.
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Saving Up for a New House
Moving to a new home can be an exciting time for you and your family. Before you make the move, though, it’s important to save up plenty of money so that you can afford a good down payment, plus any unforeseen expenses that may come up. This saving is especially important if you’re moving to a new area, as expenses could be different than what you’re used to. To help increase your financial fitness, here are some tips to help families save up for a new house in a new area.
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How to Save Money Cooling Your Home Even in the Middle of Summer
Summer is one season where saving money can go right out the window, literally. In between beach vacations and backyard barbeques, staying cool is a must. Unfortunately, keeping your home cool and your utility bill low can be challenging. Depending on where you live, it’s not uncommon for the mercury to soar as early as April, and by July the heat is still raging. Thankfully, there are ways to stay cool and save money too.
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Cost Effective Options for Small Family Housing
Older homes were often built with the large families of the past in mind, but that rambling Victorian or sprawling ranch home can seem overwhelming for your family of two or three. Small families are also often on small budgets, so choosing a cozy, cost-effective home over a large and luxurious one makes sense. If you’re looking for a home that’s just the right fit, here are four of the most budget-friendly housing options for small families.
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4 Life Hacks to Get the Best Payout From Insurance Claims
Despite what you might hear in their commercials, insurance companies are not always on your side. In fact, they are known for under-compensating people. You deserve to get the maximum compensation possible. There are several ways that you can maximize your settlement.
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Budget Friendly House Flipping
Anyone who has watched HGTV knows flipping houses is a great way of making money. But there are risks involved as well. To succeed you need a good eye for location and the ability to determine what the most cost-effective renovations are. In the previous year, the average gross profit house flippers made was around $65,000 making an almost 45 percent return on investment. So, real estate can be a great investment opportunity if done right. However, many people go into it without thinking it through. They are then surprised by the amount of work involved. In order to maximize your returns, it is important to buy in the right location while not spending too much on renovations. This budget-friendly guide to flipping a house will help you find your footing in the ever-evolving real estate market.
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Beware Of Foreign Exchange Fluctuations When Buying A U.S. Home
To say that the global COVID-19 pandemic wreaked havoc worldwide would be an understatement. Even, the world’s largest and most powerful economy, the United States, suffered a significant impact from the shutdown related to the disease. The impact is being felt across all sectors, especially housing — an industry that was booming just months prior.
But foreign buyers with cash to spend should be able to find their dream home in any major city. As fans of HGTV’s “House Hunter’s International” know house hunting is no longer limited to one’s own country, today people often buy second homes in countries other than their own. One factor rarely discussed on TV shows however is the impact of different currencies on the cross-border buying process. If you earn money in one country and buy in a different country the currency exchange rate can have a big impact on the cost that you see. For instance, if you see that the housing prices in another country have fallen 30% in the local currency but the currency has appreciated 30% against your currency the price in your currency might be roughly the same. For more information, you can read this Forex FAQ to understand some of the risks involved in transacting with a different currency.
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Cut Household Expenses for Your Big Family Move
Moving can be expensive even if you “Do it Yourself”. There is the truck rental, gas, time off of work, pizza for the “helpers”, plus depending on the timing of the move you might have to pay rent twice for that month. In addition, you will probably have to pay deposits for your new utility services which can add up to hundreds of dollars. All of that can be expensive.
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Which is Better: New Construction or a Pre-Owned Home?
If you’re looking to buy a “new” home, the question that often arises is should you buy a brand new home or a pre-owned one? Do you want a brand new house that has never been lived in, customized with all the amenities that you or want? Or should you get an older house that may require more repairs and remodeling but may cost less initially and allow you to invest “sweat equity” to improve the value?
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Navigating Estate Planning and Probate Law
It is an unfortunate fact that navigating the probate process can be very complex, and many people don’t know how to handle a loved one’s estate after they pass away. Luckily, with a little bit of research and some professional legal help, you should be able to quickly overcome those challenges so that you can move on with your life.
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