Andrew Yang and the Yang Gang may be who comes to mind when you think about universal basic income, or UBI. But the concept has been discussed in America, though not in those exact terms, as far back as 1797 when Thomas Paine suggested a lump sum be awarded to all adult citizens. Martin Luther King Jr. and the Black Panther Party also discussed the concept of a guaranteed income as a strategy to combat poverty in the 1960s.

In recent years, though, the idea of UBI has become more of a hot topic, and seemingly a more realistic one. Yang’s signature policy on the 2020 presidential campaign trail was ‘The Freedom Dividend.’ Though his bid failed, he has continued to push the federal government to grant adult U.S. citizens a UBI of $1,000/month, and now is running for New York City mayor.

But as long as UBI has been discussed, it’s had its adversaries. The argument against a universal basic income is like the argument that those opposed to welfare, stimulus checks, and other government aid programs use. “But then people wouldn’t work.”

Well, turns out that’s fake news.

The effects of the Stockton Economic Empowerment Demonstration

Michael Tubbs, the former mayor of Stockton, California, is an advocate of UBI, and tested out the “people wouldn’t work” theory through the Stockton Economic Empowerment Demonstration.

The program, which was funded by private donations instead of tax dollars, awarded $500/month over the course of two years to 125 people living below Stockton’s median household income of about $46,000.

Full-time employment increased

In an independent study evaluating the first year of the experiment, which began in February 2019, researchers found that 28% of slated recipients had full-time jobs at the start of the experiment. By the following year, that increased to 40%.

The study, conducted by researchers from the University of Tennessee and the University of Pennsylvania, found that people with part-time jobs were able to use the $500 to take time off from work to interview for full-time jobs, and people who weren’t working could use the money to pay for transportation to and from job interviews.

Less debt + better mental health = joy?

In addition to the increase in full-time employment, researchers also found that the number of people paying off debt increased by 10%—from 52% before the study to 62% after. Learning how to budget to pay off debt is key, but it’s only possible when you have the funds to do so.

Most participants also reportedly saw improvements in their mental health.

Of course, that was all in the ‘before times.’ The researchers are expected to release a similar study on Year 2 of the experiment, which ran from February 2020-2021, a.k.a. during the coronavirus pandemic. Given how the stimulus checks have helped Americans bounce back, it stands to reason that these payments helped Stocktonites stay afloat in a tumultuous time.

Though it’s a small sample size, the Stockton “free money” experiment could help federal legislators push for a UBI. Imagine, if you give people a fighting chance to function in society, they’re able to better themselves.

By Casey Musarra

Casey is a reformed sports journalist tackling a new game of financial services writing. Previous bylines include Newsday and Philly.com. Mike Francesa once called her a “great girl.”

 

If you would like to be wealthy, you need to do more than earn some money. Learning how to invest is one of the best ways of growing your money. When you decide to invest, you get to acquire things that offer profitable returns. Some of the best investment options include:

• Cashflow from your business
• Appreciation of stock portfolio
• Interests and dividends from stocks, bonds, and savings

As you become a better investor, you get to make strategies that impact your profitability. You get to devote your time looking for opportunities with larger returns. With the current technological advancements, you can start investing on your phone for $5 a month. Below, you will learn the basics and end up knowing how to make the best investment strategies.

The Stock Market

Understanding the stock market helps you understand insider trading by employees and discern how you can make better investment choices. The stock market enables both buyers and sellers to make stock trades and negotiate the prices. It’s a network of exchanges where companies list their stocks through an initial public offering and enable traders to purchase the shares, thus raising capital for the companies. The investors have the potential of buying and selling these stocks among themselves.

Supply and demand help set the stock prices, and it highlights the buying and selling willingness of different investors. As an investor in the stock market, you get to trade its performance using a market index. These indexes include sections of the stock market and help you know about its performance.

Tips for Investing in the Stock Market

It’s not hard to buy stocks; however, it can be arduous trying to figure out the different companies that will beat the stock market. You should therefore get to understand the stock market before you spend your hard-earned cash. You may have goals to give to others with the money you will make, or just save up for retirement. The tips below will help you navigate your way around any hurdles in the stock market.

Plan Ahead

There comes a time when you have to change your relationship status with a stock. Therefore, you should avoid making any hasty decisions and understand whether it’s the right time to buy or sell. One common mistake that investors make is selling low or buying high when challenges occur.

Instead, take some time to note down what makes the different stocks worthy of your investment and what it would take for you to sell these stocks. When buying the stocks, get to figure out what makes you like the company and what future the company might have. Identify the different pitfalls and decide whether the company is worth investing in.

You should also note down everything that would make you sell your stocks. Your decision should not be affected by the frequent stock price movements; however, it should rely on the business’s long-term abilities to grow. For example, viable competitors, a change of business direction, or losing a major customer.

Don’t Be Overactive

Investing in stocks should be a long-term ordeal. Some people can check the quarterly reports to keep up on their investments; however, you might want always to keep an eye on the stock market. Being on the lookout isn’t bad, but it’s one factor that can lead to overreacting. There will always be short-term events, and it’s always advisable to assume them and focus more on the company value.

Keeping an eye out for any sharp price movements can help you know what has triggered these events. Learning about these changes can help you understand the magnitude of the problem and know whether you should hold on or react.

Choose Your Companies

When you buy shares to a company, you get to become a part-owner. Before finding the right companies, you will find lots of overwhelming information on the best companies to consider. However, you should focus on all the different businesses that you think will be profitable in the future. To achieve this, you must learn about its operations, niche, prospects, and competitors.

Final Take

Before making any investment decisions, always learn about your most profitable opportunities and focus on them. Using these tips will help you keep your head down and focus on the long-term goals. With the stock market, you always need to have your guard up and refrain from any short-term noise. Eradicate any distractions and keep your goals clear, and you will be successful.

Author bio: I’m Jaylin: Guest post service planner of Leelija and full time blogger. Favourite things include my camera, traveling, caring my fitness, food and my fashion. Email id: editor@leelija.com

Planning for a rock-solid financial destiny is a critical thing. It doesn’t matter who you are or what you do. You should make a point to plan your finances like a champion, period. Thankfully, financial planning doesn’t have to be anything that’s as confusing or as difficult as you suspect. These seven choices can all do a lot for people who want to conquer their money situations.

1. Focus on Balance

If you want to excel in the world of financial preparations, then you should make a point to establish a balance for expenses and incomes alike. Think about the money that you bring in on a monthly basis. It doesn’t matter if it comes from your work salary, from alimony or from anything else along those lines.

Take all of your income sources into consideration. Beyond that, think at length about all of your expenses. It’s critical to establish an equilibrium for your income sources and costs that makes full sense.

2. Set Up a Fund for Emergency Purposes

Life is unpredictable. That’s why it’s chock-full of expenses that people honestly cannot anticipate. If you want to be 100 prepared for all kinds of emergency costs, then you should set up a fund of sorts. Make sure you refrain from ever touching your emergency fund for anything frivolous or pointless. If you have emergency cash to spare, then you can pay for things like costly vehicle repair service. You can pay for a car insurance coverage plan that can get you moving in the right direction as well.

3. Put Together a Tangible Budget

The people who flounder financially tend to be the ones who lack direction in the finance sector. If you want to attain direction, then you should make a point to put together a tangible monthly budget. Write out the amount of money that you have to work with monthly. Jot down all of your typical monthly expenses as well. Decide which things you have to purchase.

Think about everything from your mortgage to your weekly grocery store visits. Once you have a firm budget in place, you should stay with it no matter what, period.

4. Hire a Capable Financial Planner

Ample financial planning can do so much for people who want to steer clear of frustrating and time-consuming setbacks. If you want to protect yourself and your dear family members from all kinds of monetary mishaps, then you should get outside assistance, stat.

Hire a reputable and trained financial planner who has a lot of experience. It can help you greatly to hire one who has specific knowledge that relates to your interests and lifestyle. If you’re going to be retiring in the near future, then you should recruit a planner who has a lot of expertise with regard to that topic.

5. Trim the Financial Fat

Beyond coming up with a rock-solid budget, you should also figure out which expenses you have that you may be able to eliminate for good. You may want to say goodbye to frequent trips to local restaurants. You may want to say goodbye to seemingly endless movie theatre visits as well. If you want to plan your money well, it may be time to start leading a day-to-day lifestyle that’s a lot simpler and more uncomplicated.

If you have a video streaming site subscription that you barely ever use, then you should cancel it without a second of hesitation or apprehension.

6. Downsize Your Existence

Some of the smartest people in this day and age are the ones who realize the importance of minimalism. If you don’t want to have constant burdens, then you should think about getting rid of all of the “excess” that’s part of your life. It may be a terrific idea to relocate to a home that’s significantly smaller. This option can be particularly smart for people who have adult children who no longer live under their roofs. If you move to a home that’s a lot more compact and basic, then you don’t have to set aside as much money for nonstop maintenance and repair costs.

7. Maintain Meticulous Records

If you want to protect yourself from all kinds of headache-inducing money concerns, then you should do your best to maintain records that are 100 per cent meticulous. If you stay on top of your records, then you may be able to get your hands on credits and income tax deductions of all sorts. It’s crucial to stay on top of your records at all times.

That’s because searching high and low for them at the last minute can be an exercise in sheer frustration. If you want to protect yourself from anxiety attacks, you should maintain all of your paperwork in a single drawer in the comfort of your home.

 

Emergencies can happen to all of us, whether it be a medical emergency or some other unforeseen, urgent situation. While money isn’t always the solution to every hurdle we face in life, it can often come in very handy when dealing with emergencies.

But what do you do if you simply don’t have the amount of money you need to get yourself out of a bad situation? You could try and borrow it from a friend or relative, or maybe even approach one of the banks for a loan or credit card, but banks take time to make decisions and your inner circle may not have the money to lend you.

A fast cash loan could be the answer.

In this post, we’ll take a look at what a fast cash loan is, quick loan providers – such as Cashify Loans, for example – and how one of these loans can save the day in an emergency.

What Is a Fast Cash Loan?

A fast cash loan is exactly what the name implies: quick money, often available on the same day or very next day. The whole idea of this type of loan is for the process to be speedy and hassle-free. A quick cash loan or same day loan is designed for emergencies, when you need money fast for a situation that simply can’t wait.

Where To Get a Fast Cash Loan

Not every loan provider offers fast cash loans. For example, the major banks can take days or weeks to approve an application for a Personal Loan or credit card. Private lenders are the best option for these loans.

One of the huge advantages private lenders have over the banks and other financial institutions is the promise of a lightning-fast result once you’ve completed your online application for a loan. If your application is approved early enough in the day, you’ll generally have the money in your nominated bank account by the end of that business day.

Online Application With Minimal Paperwork Required

To help speed up the process even more, applications for a fast cash loan can be done online from home. The process is minimal and the application can be completed in minutes. Another point to note is that paperwork and attachments are also minimal, which means you won’t be forever going back and forth with the lender, sending them more and more documents.

The whole idea of a fast cash loan is for the entire process to be rapid.

You Can Borrow Small Amounts of Money

Another major feature of fast cash loans from private lenders is the amount you can borrow.

Let’s say you only needed $1,000 to help ease the situation. Banks generally won’t lend you an amount that small. In fact, most banks have a minimum of $5K for Personal Loans. You don’t want to get yourself into debt for that amount, so the better option is hitting up a private lender for a fast cash loan for the figure you need.

It varies, but private lenders will loan you anywhere from a few hundred dollars, up to $15K for fast cash Personal Loans.

Terms Are Simple and Transparent

Again, this will vary from lender to lender, but you’ll be happy to discover that the majority of private lenders are very transparent on their websites regarding their loan terms and the conditions attached to the deal.

Most quick cash loans are required to be paid back in several months, giving you the money and time to dig yourself out of a hole before having to pay the borrowed amount back.

There will most likely be a loan establishment fee, which is usually a percentage of the total loan amount. Interest rates on these loans are generally fair and reasonable too.

The Takeaway

When it comes to fast loans, Australia has options. Private lenders are a handy alternative to the banking sector as they offer smaller loan amounts and in much faster time frames. If you’re faced with an emergency, you likely won’t have the time to go through a long-winded process. A fast cash loan through a private lender is the obvious solution when you need money now.

For most people, one of the biggest monthly expenses they need to pay for is housing. Because of this, many are also looking for any way that they can reduce these costs so they can have more money to spend on other things.

If you own your home, one great way to reduce your mortgage payments each month is to refinance. However, this isn’t necessarily the best option for everyone. So to help you determine if this will be a good path for you to go down, here are three things to consider before choosing to refinance your home loan.

How Long You Plan To Stay In This Home

The length of time that you’ll be living in your home after your future refinance will play a big role in whether or not refinancing is a good choice for you.

According to Sarah Davis, a contributor to Money Under 30, if you don’t plan on being in your home for at least a few more years, you might not break even after your refinance. Between the potential fees and other costs, it might take a while for you to see any value from refinancing. Because of this, you should be sure that you’ll be staying in your house for at least another few years prior to going through the trouble of refinancing, in general.

What Refinancing Will Cost You

Before you decide to refinance, you should also consider what it’s going to cost you financially to do so. Many companies offer different rates and promotions for refinancing home loans, so the costs can vary drastically.

To help you with this, Tri Nguyen, a contributor to Forbes.com, shares that you can generally expect to pay about three percent of your loan amount to refinance. In addition to this, there may also be third-party costs, taxes, settlements, appraisals, and more. So before you commit to this, make sure you know exactly what it’s going to be costing you.

If You Want A Cash-Out Refinance

Getting a lower monthly payment isn’t the only reason why someone might choose to refinance their home. For many people, getting a cash-out refinance could help to make their lives easier as well.

According to Libby Wells, a cash-out refinance allows you to take out your new loan for more than you need in order to get some cashback and spend it however you want. While this won’t allow you the maximum amount of savings for your refinance, it’s a way to get some cash if you need it and potentially save money over the life of your loan as well.

If you’re thinking about refinancing your home loan, consider using the tips mentioned above to help you make this decision.

 

Long term investing is a great way to start building a legacy. Some people invest just for the moment but adding some longterm investing into the mix can be quite beneficial. Long term investing is a great way for you to have the necessary funds for retirement. Investing can also be a way to pass on an inheritance to children or other family members.

When someone is considering long term investments, it is important they remain patient because they will not get a return on their investment overnight. They have to be thinking of how the investment will return back to them within years. Usually, people will keep the investment for at least three to five years.

There are a number of long-term investment strategies that you can use to stay flexible. Most people add various things to their investment portfolio. Diversification is something that should be considered when considering investments.

Stocks

Buying stocks is a great way to begin the investment process. Many people are able to sell their stocks once they see the price of them go up. The key is to find stocks that are likely to increase in profitability over the years. If someone is able to buy the stock low and then sell it for a higher price, they can make a substantial amount of money. If the stock happens to lower, it is important not to sell it then but wait until it increases. It takes patience to do this, but it is worth the effort.

Bonds

Bonds are another great way people are utilizing for longterm investing. There are numerous bonds available like municipal, U.S. Treasuries and corporate bonds. It is recommended to look at the maturity dates of these bonds. This way they will mature and be worth more money.

Precious Metals

Investors have really started focusing on the trend of investing in precious metals; especially gold. Gold is something that has managed to keep its value no matter what was happening in the market. Investing in gold and keeping it can be quite profitable. One place you can go to see what is available is by visiting dealers like Gold Stackers Australia. They are one of the top places people go to when they are wanting to learn more about investing in gold.

Certificates

Certificates of deposits are something that has been popular for a number of years. When you invest in CDs you give a bank money for a determined period of time. Once that period of time is up you can choose to get your money back plus the amount of interest that has been accumulated. If you keep the money in the bank, the interest rate will be higher. So, this is definitely an investment that will be more beneficial the longer it goes from being touched.

There are short and long-term certificates of deposits available. The longest Cd that is available is for ten years. What you should know is that if you try withdrawing the money earlier than the term, there will be some penalties involved. So, it is best to only place the money into a CD if it will be unneeded before the agreed-upon time frame.

Mutual Funds

Mutual funds and exchange-traded funds are another way to do long-term investing. When you get a mutual fund or EFT a manager will able to place your money into different places like stocks, bonds, etc. This is a great way for you to diversify your investment portfolio.

There are so many ways for you to take on long-term investing and secure a more financially responsible future. Everyone’s situation is different, so it is best to choose options that work the best for you.

There are countless stories of young people becoming millionaires and sometimes even billionaires at tender ages. Having successfully founded corporations before their 25th birthday makes most of you look at their successes as rare luck.

But the formulas behind their grand ventures have a unique combination in common: financial savviness and aggressive perseverance. Without a doubt, every successful entrepreneur has taken risks and with time learned to detect problems, understand the causes and create solutions. If you’re interested in learning how to grow your wealth, consider the benefits of investing in the following areas and establishing your assets:

Stocks

Making small investments in stocks to develop skills in identifying risks and securities is a good way to get started. When you get a good hang of avoiding risks, you can use the stock market to leverage financial gains and form a strong financial position. Investment in the stock market has a better chance of offering capital on return as over time the value of stocks tends to rise. A pro tip is to invest in professional companies that have a track record of stock stability and profit increment.

Also, judge according to how much a company has grown over time, this helps indicate the company’s ability and potential to expand and help investors make a profit. Typically, stocks provide income in the form of a dividend on a monthly or yearly basis. This may be a permanent or regular income on top of any profits and funds received from selling the stocks. Investors may also diversify their stocks by the process of diversification.

Investing in different types of stocks allows them to leverage. If some trends have fallen, others would’ve definitely risen in response. This helps you recover from losing the value of your stocks altogether. One of the main benefits of buying stocks is that it gives you ownership. By investing in stocks, you secure ownership of the company’s shares.

Mutual Funds

A mutual fund is a good solution for investors who want to limit the involvement of risks. It involves advantages which help diversity the holdings of investors. Mutual funds cover a wide range of holdings from different investments, which helps reduce the effect of risks on the overall portfolio. Mutual funds are managed by experts who are dedicated to helping investors analyze risks and profitability.

Mutual funds, although not as liquid as stocks, still offer the flexibility of being traded daily. Choosing a mutual fund allows novices to improve their chances of return without needing experience or putting in the time to learn of the securities of each fund. With mutual funds, you can also reinvest your dividends in fund shares, which also allows you to expand your portfolio.

Real Estate

The real estate entity is home to extremely wealthy people; this is solely due to property investments. Buying property is one of the most secure ways of growing your investment with huge margins. Generally, real estate provides opportunities for passive income while at the same time serving as a good long-term investment. Land value over time tends to increase and even if it plunges at some point, it can still recover from it. Real estate investments involve short and long term profit. In the case of a sudden increase in value, you can sell off the land with a good return.

But for continued benefits, you can use your property investments to collect rent/lease. This is considered an added income on top of the selling value of your land. You can also use your properties to generate profits through business activities. Property and land ownership, when maintained properly with skilful information, has the potential to raise your asset value significantly.

Gold and Silver

Gold and silver have natural traits that will always cause their value to be retained. With gold, the rarity aspect itself adds a huge bonus to its worth. Put simply, the uniqueness of gold and silver gives them the forever benefit of resisting devaluation. Gold, silver and other precious metals are much similar to property and land investments, in the sense that their value only tends to increase with time.

But, unlike properties, they are rather easy to maintain. They’re protected from market volatility, currency and political instability, and economic decline. Their chemical uniqueness keeps them lowly correlated with economic failures. Precious metals maintain their purchase power all across the world. Gold Bullion Brisbane is one of the vendors that provide comprehensive guidance and tools needed for this type of investment. It is a company dedicated to facilitating investors in preserving their portfolios from economic volatility. They provide direct access to owning precious metals and enjoying long term stability.

Physical Commodities

Investing in physical commodities is one way to safeguard yourself during an economic crash. This is when businesses are suffering and many of them are hitting rock bottom. It is a tough time to manage a good capital return, but with investments in commodities, you have something to roll back on. Physical commodities are consist of purchasing physical raw commodities (metal bullion).

It benefits investors by diversifying stock ownership and providing different returns on commodity stocks. Commodity prices are correlated with factors such as supply and demand, inflation, and exchange rates. For example, when there is an increase in demand for global infrastructure projects, commodity stock prices rise and positively impact your capital on return.

Industry-specific Index Fund

Investing in an industry-specific Index fund is a safe way to manage return even if you do not have sufficient knowledge about it. The funds are diversified enough to lower the risk of loss of investment. Since industrial operations are large scale and very diverse, your fund is likely to do well. Ultimately, this kind of index fund is well suited to both beginners and advanced investors seeking exposure to the specifics of one industry.

In the pursuit of wealth expansion, you should make sure you don’t squander what you already own. Learn about the minute details that you should be aware of before entrusting your money to any investments.

 

Technology is capable of doing a lot of great things. For example, it is now possible for you to do everything from ordering a pizza to turning on the lights by speaking to a small device on your kitchen counter. Technology has linked the entire globe together via the internet of things.

One thing technology has not been able to do is produce better financial management. Sure, you can download smartphone apps that let you transfer money to friends effortlessly. You can put budgeting and accounting software on your computer. You can even pay for things with cryptocurrency.

With all this technology, personal financial management is not getting any better. Why? Financial illiteracy. No amount of technology has thus far been able to overcome our ignorance of basic financial principles.

People Don’t Know Financial Basics

Financial illiteracy is a problem of staggering proportions. According to data cited by Financial Advisor, 17% of adults admit to losing more than $2,500 in 2019 due to their own financial ignorance. Another 39% admit to losing more than $500 in the same year.

The data clearly shows that people are not only financially illiterate, but they admit to being so. They do not know financial basics like budgeting and debt management. Forget complex issues such as investing, retirement planning, and reducing tax liabilities.

It is true that you can use your smartphone to achieve better money management. But in order to do so, you have to understand what it is you are trying to accomplish. Managing your money reaches far beyond accessing your bank account online or using tap-to-pay technology.

It’s Time to Start Learning

The key to better financial management is a solid financial education. Address financial illiteracy and you will solve the problems that come with it. It’s as simple as that. If you are having trouble managing your finances, it’s time to start learning those fundamental principles that will help you overcome your troubles and get you on solid financial ground.

What do you need to learn? There are too many things to detail a single post, but try these four to get started:

1. Budgeting

Budgeting is the single most important thing anyone can do to improve financial management. It is the most basic financial principle of all. What is budgeting? It’s the process of establishing a spending plan so that your expenditures don’t exceed your income. If you are not living on a budget, you have no hope of better financial management.

2. Borrowing

Borrowing is a part of modern life. However, far too many people borrow too much. It’s time to learn about how borrowing works. It is time to learn about things like interest rates, compounding interest, different ways to borrow and, most importantly, the total cost of borrowing.

3. Debt Reduction

Hand-in-hand with borrowing is debt reduction. Most people have no idea how much it costs them to remain in debt. Likewise, they don’t realize how much money they could save by getting out of debt. Debt reduction is something everyone needs to know about.

4. Saving

Lastly, we Americans are poor savers. That’s not good because a lack of saving forces people to borrow or do without. Perhaps if we really understood the power of saving on a regular basis, we would do it more often.

Financial illiteracy causes a lot of problems. However, we do not have to allow those problems to continue. If we are willing to learn and make a concerted effort to educate future generations, we can make financial illiteracy a thing of the past. Then all of that technology will actually be worth something.

 

For most homeowners, paying off a mortgage is a daunting and intimidating reality of life. It’s the monthly burden that comes with owning your own home, and it’s something you take on, knowing it will be with you for what could be decades. Many people dream of living debt free, so today we’re asking the question: should you pay off your mortgage early? We sat down with Jacques Poujade, a business expert with more than 30 years of experience in real estate financing. As a managing partner at LendPlus and a real estate brokerage in a financing firm, he is passionate about helping all aspiring homeowners finance their dream home and discussing the complex topics that come along with home ownership.

Jacques, what does a mortgage look like for the average American homeowner?

In general, Americans are dealing with a bigger mortgage burden now, than in previous years. In 2019, the average mortgage was $203,296, which was up about $5,000 from 2018. These are no small numbers for families and homeowners to take on. Mortgages mean monthly bills for what is typically 30-years. It’s no small undertaking.

Why would someone want to pay off their mortgage early?

Financial freedom is something most Americans dream about. If you have no monthly house payment, you can put that money into other areas of your life. Your kids, business ventures, retirement, leisure, or even additional properties and investments. Having that cash freed up in your daily life could make a huge difference. But most people don’t even think about paying off their mortgage early, or if they think about it, they’re not sure how to get there.

How can someone pay off their mortgage early?

Paying off your mortgage early is not as difficult and out of reach as it may sound. Take a close look at your finances and see if there are ways you can put aside some extra money for payments. Even small amounts of money add up, especially over the course of years. You can then make extra payments on your principal only, which is an option with most lenders. Homeowners just need to know to ask for it. A little can go a long way here. This could lead to you paying off your mortgage years earlier than expected. You can also look into refinancing your loan into something shorter term. And odds are, this could help you out when it comes to your interest rate. Another option is to pay your mortgage using crypto. I talked about how LendPlus revolutionized the real estate industry by accepting crypto for mortgage payments in an interview with SkippingStonesDesign.

What are some things people should consider when debating if they should pay off their mortgage early?

Well firstly, if you’re putting extra money into your mortgage, you’re losing that liquid cash in your bank account. That money could be going towards additional investments in your life. You need to weigh that against the benefit of saving on the interest expenses you’re accruing. And you need to be okay with losing that extra money in your pocket every month. Deducting mortgage interest is also a pretty useful tax strategy for many homeowners. That’s another factor to take into consideration. Really, deciding whether or not to pay off a mortgage early comes down to each homeowner’s personal situation.

One of the reasons why homeowners tend to avoid the dreaded responsibilities that often come with home renovation is due to the often overblown amount of money that is spent on such projects. There are people out there who are willing to put up with a home that is practically falling apart if it means that they do not have to spend heavily on any home improvement projects.

Unfortunately, such a mindset can only be taken so far. With enough time, the physical state of your home might be too much to ignore, and by then, you will have to make a tremendous investment in repairs. Fortunately, you do not have to resign yourself to such a fate. Here are a few ways to renovate your home successfully without excessive spending.

For larger projects, professional help can ease much of the burden

It might seem a bit strange to avoid excessive spending by hiring professionals, but there are some home projects that are often too risky to tackle by yourself. Floor screeding contractors, for example, are necessary for homeowners who want to make the most out of a flooring project. Not only will hiring professionals help lower the risk of something going wrong, but they can also give you quite a bit of advice on how to improve your home without breaking the bank!

With some careful planning, anything is possible

It would not do to tackle a home renovation project without a proper plan. Without one, you will not know where to begin, as well as the best type of materials to use in certain situations. Careful planning will also ensure that you do not end up wasting effort on a home renovation project that you cannot do on your own. It allows you to take stock of what needs to be done, and whether or not it is feasible to do on your own.

Pay in cash whenever you can

If it is something you cannot afford to pay in cash right this moment, it might be a good idea to hold off on that particular aspect of the home improvement project until you can do so. It is never a good thing to make use of loans or credit cards to pay for home renovation, as you could end up losing plenty of money on the interest paid. No matter how much you want to get certain things done, it might not be worth the headache down the line. If you do not have any means of paying right away, it is a better idea to wait.

Last but certainly not least, remember to pace yourself when it comes to home improvements. There are plenty of things that can go wrong, and you will only increase the risk if you rush things. Even if you want to put yourself on a deadline, keep in mind that unforeseen things can and will happen. With the tips above, you can save plenty of money while simultaneously lowering stress levels during a home renovation.