Facebook
X
Pinterest
Copy Link
Every Reason Why Asbestos Siding Removal Cost Is Worth Paying
The original siding on homes built before the 1980s was likely manufactured with asbestos. The average asbestos siding removal cost ranges from $690 to $20,000, with many homeowners spending an average of $5,700. | BidBuddy.com
Skillshare vs. Udemy: Which Learning Platform Is Better in 2024?
Online learning platforms allow users to take classes in almost any subject area from the comfort of their home. Skillshare and Udemy are two of the most robust programs offering this service, but which is the right one for you? | BidBuddy.com
A Pro Organizer’s No-Fail Method for Organizing Closets Is the Only One You Need
How To Use A Leap Year To Maximize Your Finances
Leap Year’s extra day can serve as a reminder to stop and evaluate. An extra day in the year represents an opportunity to earn more money, pay off debt, or think long term about your finances.
Here are a few of the best ways you can use a Leap Year to maximize your finances.
Table of Contents
Check In On Your BudgetTackle Your DebtIncrease Your IncomeThink Strategically About Your FinancesReview Your GoalsImplement an Investment StrategyUse Your Money to Enjoy Your Life
Check In On Your Budget
It’s easy to fall into bad financial habits, especially when it comes to budgeting. With an extra day at your disposal, use it to check in on (or make!) your budget.
Review your expenses from 2023. Did your spending align with your goals and values? How is 2024 going so far? If you aren’t thrilled with how you used your resources now’s the time to get things into alignment.
If you haven’t done so already, download a budgeting app to keep track of your expenses. Budgeting apps easily sync with your accounts, allowing you to keep tabs on how you’re spending your money right from your phone. Spend some time this month reviewing your budget to look for an opportunity to improve your habits.
Also, take a look at recurring expenses like your car insurance or monthly subscriptions. Could you negotiate a lower rate with a different company? Or, if there’s a service you use regularly is there an annual payment option that can help you save money?
Tackle Your Debt
You can also use the extra day in a Leap Year to take on your debt. A lot of high-interest debts – like credit cards – compound daily. Making just one extra payment can help you reduce the interest that’s accumulating on any balances you owe, helping you pay off your debt faster.
If you can’t make an extra payment on February 29, you can still take action to tackle your debt. Sit down with a notebook and write everything out. Make a list of all your debts and include the total balance, minimum payment, and interest rate.
Once you have a clear view of your situation, brainstorm your options. Can you use a 0% interest balance transfer to move debt off of a high interest credit card? Have you looked into consolidating all of your debts into a personal loan? Could you refinance one of your loans?
Check out our loan payoff calculator to see how different options affect the overall plan.
Use the extra day to consider your options and come up with a plan to reduce your debt in the months to come.
Increase Your Income
An extra day in the year means an extra day to earn money. If you don’t have a side hustle already, now is a good time to start one.
For gig workers, spend the extra day delivering meals or giving rides. If you’re a freelancer, commit to spending some time looking for new clients. And if you have a creative side hustle – like building digital products – spend the day developing a new product or optimizing ones you already offer.
If you don’t have a side hustle but work hourly, ask your boss for some extra hours. Use your extra earnings to make an extra debt payment or to work toward a savings goal.
Implement An Investment Strategy
A Leap Year can also be a good opportunity to boost your net worth. According to financial advisor Mark Hebner, Leap Year has been a historically good year for the stock market. His analysis reveals that there have been no negative returns during a Leap Year since 1940.
While historical performance isn’t always indicative of a positive future outcome, these are pretty good odds to work with. If you haven’t started investing yet this could be a good year to implement an investment strategy.
One of the easiest ways to get started is to sign up for your company’s 401(k). Not only will this help you begin investing, but employers usually provide a match as part of your compensation package. This is free money you can use to grow your net worth.
If you want to try your hand at building your own portfolio, there are a number of apps you can use to do that. Fortunately, it’s never been easier to get started. You don’t need a lot of money to begin investing – you can do so with less than $100.
Review Your Goals
The extra day in a Leap Year also gives you a chance to review your financial goals – or even set new ones. This could mean adjusting how much you need to save in your emergency fund or reviewing the amount of money you need to put aside each month for retirement.
One of the easiest ways you can start making progress on your goals is to automate your savings. You can do this by designating a portion of your paycheck to go to a specific savings account every pay period.
You can also create special savings accounts by setting up designated savings buckets. Ally is one example of a bank that allows you to do this. You can allocate some of your savings toward vacation while putting the rest of it toward another goal like your emergency fund. By automating the savings process you avoid the temptation of spending it.
Think Long Term
Have you ever sat down and considered where you want to be in 10 years? 20 years? 40 years? At what age would you like to retire and what do you want your lifestyle to look like in the future?
Do you want to live in the city, in a cabin in the woods, or something in between? Do you want to travel frequently or spend time tending your garden? Do you want to work hard, play hard – or are you more relaxed?
Dream up an ideal life and then put some numbers to it. How much will this lifestyle cost and when would you like to achieve it? Understanding where you want to be in the future can make today’s sacrifices a little easier to bear. So, put some time into being more strategic with your money.
If you don’t know where to start, look into working with a Certified Financial Planner to help you come up with a plan. It can save you in the long run.
Use Your Money to Enjoy Your Life
While an extra day in a Leap Year is a great way to make extra money or work towards a financial goal, you don’t have to hustle if you don’t want to. Taking a day off to do something fun can be a powerful way to maximize your finances too.
Use the extra day to go to your favorite coffee shop and plan a dream trip or create a financial vision board. This will help you establish a ‘why’ to align with your financial goals. Doing this will keep you motivated even on days you don’t feel like working.
You can also use the day to do something nice for someone else. Plan on making a home cooked meal or take a stroll in the park.
Time is the most valuable resource we have. You can maximize your finances by spending the extra day recharging. When you’re ready to dive back into work, you’ll be refreshed to work toward your goals.
Editor: Ashley Barnett
Reviewed by: Robert Farrington
The post How To Use A Leap Year To Maximize Your Finances appeared first on The College Investor. | BidBuddy.com
Solved! What to Do About Squirrels in the Attic
If you’ve got uninvited visitors overhead, a little patience and a handful of smart strategies can prevent damage to your home and restore peace and quiet up above. | BidBuddy.com
This Faux-Leather, Mid-Century Modern Sofa Looks Straight Out of West Elm — But It’s $1,200 Cheaper!
How Much Does It Cost to Start a Landscaping Business?
The typical cost to start a landscaping business ranges between $5,000 and $8,000. The exact cost can vary depending on the services offered, type of equipment, office and storage space, marketing, and other factors. | BidBuddy.com
I Converted My Small Home Office into a Cozy English “Snug”
Cheap and Chic: 7 Ikea Pieces Designers Use (and Love)
For decades, Ikea has been churning out stylish, minimalist furniture and accessories that come with affordable price tags. Because of this, the Swedish brand is a favorite among new homeowners, cash-strapped renters, and, yes, even professional designers.
Katie Zimmerman, owner and principal designer at Zimmerman Interiors, in Bowling Green, KY, says one of the best things about Ikea furniture is that many of its pieces are customizable. “Whether it’s adding a new coat of paint or swapping out hardware, there are plenty of ways to make these pieces your own,” she says. “This not only allows you to create a unique look in your home, but it can also help your furniture last longer and stay looking great.”
From luxury-looking sofas that don’t break the bank to a wildly popular pendant light, here are the Ikea pieces that design experts can’t recommend enough.
1. Billy bookcase
Above: The Billy Bookcase.
Carlie Rice, designer and social media manager at Havenly, shares that she loves the Billy bookcase because it’s both simple and customizable.
“These bookshelves are the sneaky, secret way to get built-ins in your space without taking a large chunk out of your bank account,” Rice says.
Rice points out that you can combine various sizes and paint them—an especially stylish tactic when you want to create picture-perfect nooks in offices, hallways, and playrooms.
Zimmerman agrees that the Billy bookcase is a must-have piece. “These can be transformed to appear custom with molding, doors, and sleek hardware,” Zimmerman says. “The appeal is the versatility and the look-for-less results.”
2. Kallax shelves
Above: Ikea’s Kallax Shelves.
If you’re looking to install shelving in your home, go for Ikea’s Kallax units, recommends Rachel St. Amour, principal partner and owner of Van Saint Group, in Baltimore, MD. “Ikea just debuted a stand for these shelves—and talk about a design game-changer,” she says.
St. Amour also mentions that the 1-foot-by-4-foot Kallax configuration can easily be made into an entryway bench. “Pop it onto the stand, add a cushion from Etsy, and you have a custom, one-of-a-kind bench,” she says.
The Kallax is great for storing shoes, hats, and other accessories. “You can even paint these to match any design aesthetic—just don’t forget to use a lacquer-based primer first,” St. Amour says.
Mike Semegen, owner and project manager for Hello Home Studios, in Kelowna, BC, Canada, is also a fan. “This is a versatile and stylish shelving unit that can be used in many different ways,” Semegen says. “You can easily combine several of them to create a storage unit wall.”
Kallax shelves are also useful as a room divider, bookshelf, or TV display unit.
3. Soderhamn sofa
Above: The Soderhamn Sofa.
If you’re looking for a sofa with a luxurious aesthetic, similar to the popular Neva sofa from furniture company Sixpenny, check out Ikea’s Soderhamn sofa. This couch, available in five shades, is design-forward while still being reasonably priced.
“The Soderhamn sofa is great, because it has a unique design with right and left armrests that can be exchanged,” says Carmelo Carrasco, an interior designer, real estate agent, and co-founder of Axel Property Management, in Allentown, PA.
Because of its versatility, the Soderhamn sofa can easily fit into any living room.
4. Pax closet system
Above: The Pax System.
Another of Zimmerman’s favorite Ikea pieces is the Pax closet system. “This is a great option for anyone looking to create a high-end, built-in closet system without breaking the bank,” she says.
With the right molding, paint, hardware, and planning, you can transform this budget-friendly piece of furniture into your own.
“Plus, it offers a ton of storage space, which is always a plus when it comes to selling a home,” Zimmerman adds.
5. Harlanda armchair and 6. Ekkronmal throw blanket
Above: The Ekkronmal Blanket (at left) and Harlanda Armchair (at right).
If you’re in the market for a well-made armchair, Rice recommends Ikea’s Harlanda option. This timeless piece of furniture is available in six colors and can be used in living rooms, bedrooms, and dens. “We often see similar, if not identical, items in stores like Crate & Barrel and Pottery Barn,” Rice says. “This is a price point you can feel good about while still making sure you get a classic silhouette that feels and looks expensive.”
Ikea is also a great option for inexpensive home accessories, such as throw blankets. “Why are cute throws so expensive?” says Rice. “They don’t have to be!”
For an affordable throw that only looks pricy, Rice recommends the Ekkronmal blanket. “I love that this one adds a pop of color that feels warm, inviting, yet still subtle,” she says. “Pair it next to a vase of fresh sunflowers.”
7. Sinnerlig pendant lamp
Above: And Ikea’s Sinnerlig Pendant Lamp.
If you want to elevate a bedroom or dining room, pick up the Sinnerlig pendant lamp. Easy to integrate into many different aesthetics, this lightweight fixture adds character to any room. “It makes a statement that would look just as great in a coastal dining nook as it would in an organic-modern bedroom,” says Rice, noting that for $129, the Sinnerlig is an excellent size for the price.
N.B.: This article by Brittany Natale has been syndicated from Realtor.com; see the original here.
And for more Ikea finds, we suggest:
* Remodelista Reconnaissance: A Woven Floor Lamp in an Architect’s Home Office
* Ikea Finds: Sculptural Lights by a Dutch/Kiwi Designer, All Under $100
* High/Low: A Liberty-Esque Duvet, Two Ways | BidBuddy.com
The Best Wildlife Removal Services of 2024
Are wild animals coming a little too close to your home for comfort? The best wildlife removal services can safely and humanely usher out unwelcome guests and keep them from coming back. | BidBuddy.com
