- Preparing for Baby Costs, Oh, baby., I found out in February., I came home to a scavenger hunt – clues scattered by my wife throughout the house. At the end, I discovered a drawer filled with tiny booties, a Captain America onesie, and a board book about dads and babies. And there I was. I was going to be a dad in October. Elation and excitement turned to planning and anxiety. Amidst the thoughts of, What color should the room be? and, Is it a boy or a girl…, Plan ahead (if you can), My wife and I knew we wanted to be parents, which is something I want to be clear about up front: not everyone has that luxury. To quote the great Dr. Ian Malcolm, "Life uh...finds a way." So while the considerations I'm putting forth here are great for parents who plan ahead, know that – depending on your circumstances – the advice may shift. That means establishing a budget (which can actually…, About that budget..., Perform a Google search about the average cost of having a baby and you're going to get different numbers. Like, super different. But, as an expecting parent, I figured we'd probably be looking somewhere around $5,000 (with a frequent prayer that it will be less). That's based on where I live, the insurance we have, and anecdotes from friends and families who had their own little ones with…, You're going to buy a lot of stuff. Look for discounts, First time parents need a bunch of stuff. Bottles, crib, mattresses, books, car seats, monitors, swaddles, and cute outfits for holidays so that you can laugh when she looks like a super tiny but super pudgy Santa at Christmas. Y'know – the important stuff. The first thing we did was sign up for discounts and look for sales. There are dozens of discount baby clothes options online, secondhand…, Ask your network, We had the advantage of siblings and friends who have had babies before. You may, too. Ask around or post on social media for baby items. I can almost guarantee that you'll have parents reach out almost begging you to take stuff so that they can clear space in their ever-expanding closets for new clothes. Don't have baby friends? Join a group online. Nearly every community has a local group for…, Don't discount the value of a baby shower, Our baby shower was one of the single biggest hauls of items we received. The big-ticket items, the wishlist items, and everything in between. Remember: anything that you're not spending money on is money you can save. And you're going to need to. , Plan ahead for those long-term costs, Unless you're fortunate enough to have a family support system or can afford to have a parent stay at home (that's assuming you're part of a two-parent household, which not everyone is), you're going to have to pay for childcare. And the cost? Wooboy. Just look up the average cost of daycare . Like searches for the cost of having a baby, the numbers vary. And they vary drastically based on…, The other stuff and the unexpected, There's paint, nightlights, changing tables, diapers, and a million other things. Make that wishlist early and add to it often. It'll help you reevaluate your budget as you go. Oh, and remember our dear friend, Dr. Ian Malcolm? Life will uh...find a way, so remember that your baby is going to be calling the shots at the end of the day. They may come early and there may be unexpected costs, so…
- The pandemic may have restricted the way many of us lived, but it pushed the housing market beyond historic boundaries. Now those same homes we were stuck in during quarantine are worth more than ever before, making home equity lines of credit even more attractive. Apply Now! Median home prices have skyrocketed since the onset of the pandemic. That puts homeowners in a now-more-than-ever type…
- 4 Ways I Saved (or tried) in College, When I was 17 my dad's motto seemed to be "stop spending your money." But to me, spending was easy. "Saving" was hardly a word. The first time I considered cost – another new word! – was the moment my dad said, "You know, you'll end up with a lot more student loans if you choose one of those private schools. We can only help so much." This language was confusing for a teen like me with limited…, The rest would be up to me – a fact that I would learn many years later., I applied to four private universities and one state school, which I considered as a back-up plan because in my mind "private" meant "elite" and therefore "public" meant "inferior." With my 98 GPA and solid SAT scores, I was accepted across the board and had my pick. With a full platter of selections, I obviously had my eye on the elite! Sure, I looked at the price tag, too, but if my parents…, Nope!, Student loans! That's the golden ticket to this chocolate factory. And being a cosigner on those loans, that meant my parents had financial liability and, ultimately, I'd need to make payments based on their incomes and credit scores . I picked a private school anyway, and away I went. Then I watched our family funds dwindle, and as the 2008 recession took hold of our economy, I knew I needed…, With frugality in mind..., My tough lessons in college finances: , 1. Pay myself first, I had to convince myself, "If I don't have money to save, then I don't have money to spend." It does not work the other way around . And once you can train yourself to do this, your lifetime of saving can begin. , 2. Avoid the expense of luxury, My various living situations in college: Becoming a Resident Assistant so I could get a "free" dorm room. Remember though, it's a job and can be time-consuming. Working new student orientation in the summers (again, free housing and good pay), which also helped me explore my college town when it wasn't swamped with students. "Couch-surfing" and living out of my car so I didn't need to pay rent!…, 3. Invest my time, Instead of investing money (because I didn't have any), I invested my time, asking, "How can my time now improve my finances tomorrow ?" Gain practical experience , instead of simply studying the topic: Apply my skills in a professional setting to make myself more valuable when seeking a better-paying job Build a strong resume for post-grad applications and internships Learn from active mentors…, 4. Stretch my student loans, Many student loans come with a bit of flexibility. Meaning, they are more than you need for tuition and housing . Seeing those excess funds in my bank account, I realized that I had to be responsible not to burn through it carelessly. Like many students, I was on my own in a new city, and yearning to break free from the pesky rules and watchful eyes of my childhood home. I won't debate the…, Other financial tips for college students, from personal experience:, Budgeting means being strict when asking, "What is a necessary expense ?" Buy used books from friends, and hunt for the bargains. Books can be pricey, particularly at the beginning of each semester. Sell the old ones, and never buy new if it can be avoided. Don't buy new outfits or clothes every semester. Focus on the supplies you need. Learn from your previous semesters and improve your system…
- Over the last several years the fitness industry has exploded., Unique diets, strength training regiments for all ages, you name it. Many people have shown a level of dedication to becoming healthier, both mentally and physically, and are enjoying healthier golden years as a result. I love fitness, so this focus and passion around the industry has been very exciting – fitness goals set and crushed by thousands! But let's pause... When was the last time you…, Close your eyes. What does your ideal retirement look like? , Retiring young and trying "van life"? Retiring to find a part time job that brings you extreme joy? Living comfortably and volunteering? Moving to a nicer climate and kicking your feet back? Whatever it might look like, let's open up about this topic. Have you been told you are too young and have years – or even decades – to worry about retirement? Maybe it's the opposite, and you believe you're…, Break it down into smaller, more manageable actions. , One simple step that I suggest you start with today is, check to see if you have a 401(k) or retirement plan offered through your employer. If so, do they match your contributions up to a certain percentage? If you find out that your employer does offer you a chance to participate in a plan, great! Start small. Two or three percent of your paycheck adds up over time. For an employee making 40,…
- Financial Prep for Study Abroad, So, you've decided to study abroad? How exciting! With dreams of the adventures that await, it can be tough to sit down and think logistics. If you take the time to map out your finances now, though, you'll not only leave yourself with less stress during your studies, but you'll be far more likely to recover afterward from the long list of unforeseen expenses. You'll be financially stable and…, What I didn't realize was how quickly that could change., Within months of starting my degree, the US dollar changed to parody, and by the end of my two-year stint in Australia, I was paying 1.5 times more than when I had initially set out! Take it from me: if you have the luxury to pay entirely upfront – do it. If not, educate yourself on the trends of the dollar and always expect the unexpected. You may want to plan several forms of payment during…, you could be looking at a hefty bill by the day you graduate., Speaking of loans... Financing Borrowing money can be one of the trickiest parts of preparing to study abroad. By the time I realized that I didn't have enough savings left to pay tuition, it was already a dire situation. Loans accepted in the US are not always the same as those accepted abroad. It highly varies by country. The university I attended was so picky that they only accepted loans…, You can easily avoid this situation by planning for the worst., Do your research and figure out what your options would be, even if you think you're all set. Take it a step further and contact the loan provider to get a clear picture of the interest rate for the loan as well. It's all about the prep work when it comes to studying abroad. Don't feel like you have to go about it alone, though. If you still have questions, we're here to help. Bon voyage! -ADJ
- Why I Ditched My Debit Card, All about that credit card life, I'm going to make a confession: I don't use my debit card. To be honest, I haven't used it in years. And while that's not something our Card Solutions Manager here at Visions will like, the fact is, I'm all about my credit card. Here's why I broke up with my debit card and haven't looked back. Rewards This is the big one. If I'm already spending money, why shouldn't I spend in a way that will…
- Most people realize that a job (or lack thereof) has a major impact on your financial future (as well as your current situation). Yet when we think, "What do I want to do when I grow up?" even if we have an opinion on the matter, most of us could never predict what our career path will eventually be. The best career advice anyone has ever given me was to: Always have an updated resume because…, Know who you are, decide what you want, and have a plan:, What are you qualified to do today? What does it take to be successful in your field? Will you need a degree or certification, or could ample experience get you the job? These are all great questions that may need some research. Look up job descriptions on listing sites like Indeed, LinkedIn, or your local department of labor. What do many employers require for what you are interested in? Don'…, Which benefits are important to you?, Which ones might become important to you as you look down the road? Research this information, too. Be sure that your prospective employer offers benefit programs or services that will meet your needs – because a great job without helpful benefits might not be a good move. Regardless of career path, receiving income through legitimate payroll is always more financially responsible than working "…
- Lessons From My Elders, I won't always be young. I'm not jaded by the notion that I have a lot of years ahead of me, and many lessons to learn. But eventually, I won't be able to work the same 40 hours per week (plus the occasional side gig) to support my family and cover my health expenses. Not forever. So when someone older than me talks about life, I'm happy to listen because I might be in their shoes someday. I'm…, Retirement #1: My crafty neighbor, My neighbor isn't from here. And by "here," I mean "this country." As a teenager, he boarded a ship and sailed to America in the 1960s to start a new life in the Land of Opportunity. He worked in construction but his passion was art, and I've never heard anyone say a negative word about him – always referred to as a hard worker, kind, family man, talented, helpful, funny – the list goes on! …, Here's what I learned from my crafty neighbor:, 1. Real estate is an investment you can suit to your needs. By the time he retired, my neighbor had no mortgages between a sizeable residence and a modest rental property. The rental offered a first apartment for his kids to live when they moved out of the house, then became extra income in later years, until he decided to sell it. He recouped his investment again in later years, when he and…, Read more Lessons From My Elders:, The Distant Artist , A Veteran's Folly
- Dear member, meet crypto. , Thanks to new technology, brilliant programmers, and a global economy, we're seeing a whole new world developing through digital assets and cryptocurrency. Even if you're not interested in investing yet, don't stay in the dark – get to know crypto! You can start here:, Bitcoin, the Blockchain, your Wallet, and YOU, We've all heard it: blockchain, Bitcoin, cryptocurrency – it sounds like something out of a sci-fi movie. But it doesn't have to be confusing. As with anything new, awareness is key. So, let's start with some quick facts on how to better understand what cryptocurrency is and how it works. First things first: nothing is tangible. You can't hold it, but you can store it in a wallet (more on that…, What to know about blockchains, A blockchain is a database that stores information differently from the way a typical database does. It collects information in sets, or "blocks." When the blocks are filled, they're connected – or "chained" – to the previous blocks and can't be changed. The transactions and verification process use mathematical algorithms, which makes them more secure. All of this information is then duplicated…, Bitcoin today and how it's used, Today, there are thousands of types of cryptocurrencies being traded, but it all started with Bitcoin, which has become a catch-all term for cryptocurrency in general. Another popular term that includes crypto is CVC, or, convertible virtual currency, . And, with all of these currencies popping up and becoming legitimized, some merchants and retailers have even started accepting it as a payment type. , What other cryptocurrency should I know about?, There are several types of cryptocurrency such as stablecoins (which are backed by an asset to reenforce price stability), non-fungible tokens or NFTs (digital representations of assets that cannot be duplicated), and more. Each has its own set of functions and rules, and many of them operate on different iterations or evolutions of blockchain technology, like Ethereum the most widely used …
