Chime Bank Review: Fee-Free Banking [Plus a 10% Roundup Bonus!]

There are few things more annoying in my life than recurring, nominal bank fees. I find it amazing that, even at the age of 32, few things can rile me up more than looking over a bank statement and finding a $9.99 monthly charge.

Good thing then, that Chime — a new platform that is backed by Bancorp Bank (and FDIC insured) — offers checking, savings, and debit card accounts… fee-free.  And as an added bonus for all DoughRoller readers, Chime is also willing to start your account off with a free $5.

Fee-Free Means Fee-Free

The reasons why I would generally incur a fee on my checking account are somewhat universal.  They are:

1. My average daily balance dropped below the required amount to keep the account fee-free.
2. I did not make enough debits from the account in a month.
3. The account I had signed up for was discontinued, and I was automatically enrolled in a different program… one that now incurs fees.

However, Chime does not charge for any of these things.

Related: 5 Bank Fees to Avoid At All Costs

In fact, the only fee you will ever find from using your Chime savings, checking, or debit card account is if you make a withdrawal from an ATM that is not on their network. (They currently have 24,000 different fee-free locations, though, so it’s not easy to bypass this fee).

No minimum fees, no monthly fees, and no overdraft fees. Ever. But that’s not the only reason to consider using Chime for your everyday banking needs.

The layout of Chime is simple: everyone that signs up will have access to a checking account (Chime calls this a “Spending Account”), a savings account, and a debit card.

All money that you deposit into your Chime account will initially go to your checking account. You can use that money to make everyday purchases with your debit card, use it online like a standard checking account (to send money), or write paper checks using the Chime Checkbook app.

Money from your checking account can be transferred to your savings account. Then, you can choose to keep it there or set up external transfer accounts (there is no charge to transfer cash).

Learn More: 5 Ways to Automate Your Finances

What Makes Chime Different?

There are three major differences between Chime and a standard high interest savings account.

1. Chime Savings Round Ups

Every time you use your debit card to make a purchase, Chime will automatically round the change up (to the nearest $1). Then, it will deposit that change into your Chime savings account.

For example, if you make a purchase at the grocery store for $44.26, Chime will charge your debit card $45. The additional $0.74 will be transferred into your savings account automatically. This is done for every single purchase you make.

On the surface, this may not sound all too different from other money-rounding apps, like Acorns or Qoins.

Here’s the kicker, though: you’ll receive a 10% bonus on all round ups made, every single week.  So, if the total amount of round ups for a week comes out to $7, Chime will add $0.70 on top of that and your savings account will show a weekly total of $7.70.

Savings round up bonuses will be deposited every Friday, and the max amount of bonus money you can earn as a result of these round ups is $500 annually. When you consider the example above, I would venture to say that hitting the $500 figure in a single year would require many thousands of annual purchases. It would be very difficult to do (meaning the cap should not be considered a negative factor).

2. High Yield Interest Rate of 0.01%

Unlike traditional banks that are now paying an APY north of 1%, Chime pays only a 0.01% APY.  Your savings account, essentially will not earn an annual interest rate, so parking your money there for an extended period of time is not a wise decision.

That said, you have the ability to transfer out of the Chime savings account to an external account whenever you wish. On a balance of $10,000, a high yield savings account earning 1.15% APY would net you $115 in interest for the year.  That’s money left on the table if you decide to keep your savings in Chime at all times.

Resource: The 9 Best Investment Strategies for Short-Term Savings Goals

3. Automatic Savings Feature + Checkbook

Chime allows all of its members to have direct deposits placed into their checking accounts. From there, users can choose to set up an automatic savings feature, which allows 10% of your direct deposit to automatically be placed in your savings account for direct deposits over $500.  You’ll find this in your Chime account.

Chime Checkbook allows you to send a paper check free of charge, to anyone you need. The app can be found on any mobile device or inside of your Chime online account. Plus, there is no limit to the number of checks you can send each month.  There is a limit of $5,000 per check sent, however, and $10,000 per month in total amount of checks sent.

Should You Become a Chime Customer?

When you consider what Chime has to offer, this is a terrific offer for anyone in need of a fee-free debit card and a fee-free checking account.  The 10% bonus on savings roundups is a really incredible offer and one that can easily add $100 or more to your account every year, if you use this card exclusively to make everyday purchases.

To anyone that cannot use a cash back credit card to make routine purchases, this is a fantastic alternative. For this reason alone, I would highly recommend Chime.

I’d also recommend Chime to anyone in need of an online checking account.  The ability to send paper checks without cost is a huge plus, and it would be nice not to have to worry about unnecessary banking fees.

That said, this is not the place to park your savings.  I appreciate that Chime offers the ability. Without paying a substantive interest rate, though, there are better (high yield) savings accounts available to earn a respectable return. Utilize the Chime savings account and take advantage of their automated savings tools, but also be smart and set up external savings accounts. Interest rates are on the rise and it would be foolish to miss out.

• Open a Chime account here and receive $5 for being a DoughRoller reader

Topics: Banking

The post Chime Bank Review: Fee-Free Banking [Plus a 10% Roundup Bonus!] appeared first on The Dough Roller.

from The Dough Roller http://ift.tt/2s8V7aQ

Locksmith Directory | Locks Changed | Locksmith Blog

The Locks-Changed directory

I'm always on the lookout for new locksmith directories for local locksmiths to submit their details.

Another good free one that has caught my attention is http://ift.tt/2uqduIY

It's currently under construction but looks like another good source for local locksmiths to submit to for free.

It is run by the owner of http://ift.tt/2tsMvzq so should rank nicely in the search engines.

UPVC Store

A new supplier has popped up in the West Midlands, previously a web based business, now has a shop front for passing locksmiths to drop in.

Prices are very reasonable to trading locksmiths and these guys have a good list of contacts when it comes to sourcing older parts.

http://ift.tt/2tsMA5Q

I've heard that they supply a lot of the main locksmith suppliers around the UK so you should be able to get best prices here!

from Locksmith Blog | Sheffield Blog | Locksmiths http://ift.tt/2tsC7HZ

My Trail Company Down Light Hooded Jacket Review

Here’s How Much to Save (and How to Do It!)

As we’re flooded with new products and services every day, it’s becoming increasingly difficult to stay disciplined with knowing how much to save. The temptation to buy and consume can often outweigh long-term goals, such as retiring early, having financial stability, and providing for your family.

So, how does one overcome that temptation in order to save for the future? Where is the line between how much you actually need to set aside and how much you can enjoy now?

Resource: Want to Retire Early? You Need to Cut Expenses Now

How Much Money Should I Save Each Month?

Each of us has our own unique financial situation. How much you save depends, at least in part, on your personal income and cost of living.

When asked to quantify the percentage of income that any individual should save in order to be considered “financially responsible,” Walter Updegrave, a senior editor of Money Magazine, gave what might be a frustrating answer for some:

“As much as I’d like to be able to tell you to save 10%, 15%… the percentage of income that’s appropriate for you will depend on your income, age, the amount of money you’ve already saved, your employment prospects and, most important, how much you’re willing to forgo immediate gratification for current and future financial security.”

So, as with many other aspects of personal finance, the answer is: It depends.

A general target, and good starting place, is to tuck away 10% of your income. Some might be able to put away more, whereas others might be hard pressed to save 5%. Your exact number will depend on your particular situation, but saving something is always better than saving nothing.

Related: Do You Need a Bare Bones Budget?

Take a look at how much you can comfortably save right now. Could you squeeze a few more dollars out of another area in your budget? Perhaps you could eat out less or cut your cable bill down? Then, funnel that cash into savings instead.

No matter where you’re starting, your goal should always be to save as much as you can.

What Strategies Are Most Effective for Saving Money?

Now that you have a general idea of how much you should ideally be saving, next comes the difficult question: “How do I save?”

Well, it’s easier said than done. We often don’t realize just how often we pull out our wallets to spend on items that aren’t really necessary. These little expenses add up quickly, until you’re spending hundreds (or even thousands) of dollars on things that you don’t even deem important.

If you’re wondering how to save money every month, here are some tips that may help you begin:

Create a Monthly Budget

Budget, Budget, Budget! It’s nearly impossible to realize savings goals if you don’t know where your money is going in the first place.

Sit down and write out a list of monthly income and expenditures. You can even use your computer to do this. Spelling it all out is the only way to see how to tighten your budget, though, so it’s truly necessary (at least in the beginning).

There are great resources on the Internet that can help you with the budgeting task. One website in particular, Learnvest.com, helps break out finances and does all the work for you. We also have a great guide covering four budget types and the best tools for each one.

Resource: A 10-Minute Budget That Actually Works

Before improving your savings, you must get a handle on your budget. It’s the only way you’ll be able to determine where you can cut back.

Look Carefully at Your Bills

Take some time to carefully inspect your cell phone, electricity, cable, internet, and home phone bills.

When it comes to your phone, cable, and internet, ensure that you have the right plan for your circumstances. Perhaps switching cell phone carriers or plans will save you money. Maybe your local cable company is running a package promotion?

Competition exists for a reason! Make sure you are using the least expensive provider for your needs. It only takes a few minutes to call or go online to check out other options.

As for energy bills, optimize your use of energy: keep the lights off when you aren’t using them, and do not blast the air conditioning or heat if it is not necessary. Lowering your utility bills is an excellent way to save.

Cut out Unnecessary Purchases

This is probably the most difficult aspect of budgeting because at first blush nothing really seems unnecessary. This is where a good budgeting tool, as mentioned above, can come in real handy.

For instance, if you buy coffee every morning or lunch while at work, try making your own at home. It’s amazing how fast $10 a day on coffee and a meal adds up. That’s approximately $50 a week, $200 a month, or $2,400 a year that you could have been saving or using to pay off debt instead!

Think carefully before you pull out your wallet. Do you really need that new pair of shoes or extra pair of earrings?

Learn More: 15 Ways to Supercharge Your Finances

Save Whatever You Can

Even if you start off small, it’s essential to have a foundation.

Commit to putting all your change at the end of the day into a piggy bank or to saving $10 a week in a jar. This will put you on the road to acquiring better savings habits.

At the end of the year, that change can really add up. Simply put it all in a high-yield online savings account or, if you already have a solid emergency fund, contribute a bit more to your investments.

Every little bit helps when you’re on the path to financial freedom.

Be A Frugal Shopper (Within Limits)

How many times have you bought a brand name item when the generic is half the price and approximately the same quality?

One place you are likely to realize savings is at the grocery store. Take some extra time to clip coupons and compare prices between different manufacturers and brands. There are some items for which you should not sacrifice quality. For others, though, there really is minimal difference.

Also, check out sales, factory outlets, and stores like Marshall’s, TJMaxx, or HomeGoods. There, you can find high-end products at a fraction of the price.

Instead of buying things brand new, frequent web sites such as Craigslist and eBay. See if there’s a way to get your hands on what you want, even if it is not straight out of the box.

Resource: Saving Money on Your Retail Spending

Hopefully, you now realize it’s not impossible to save money. Even if you feel like your budget is stretched thin already, you might now see that you can save more than you’re currently putting away.

Once you begin to practice the above steps, it will become an ingrained part of your lifestyle. You will find little ways to cut even more corners or trim the fat left in your budget.

Before you know it, you’ll see yourself saving away for a happy, worry-free future.

Topics: Personal Finance

The post Here’s How Much to Save (and How to Do It!) appeared first on The Dough Roller.

from The Dough Roller http://ift.tt/2trb6oa

Betterment vs. Wealthfront: Which Is the Best Robo-Advisor in 2017?

Two of the biggest robo-advisors are Betterment and Wealthfront.  At first glance they may appear to be virtually identical. Both create diversified portfolios with similar low cost ETFs. Both rebalance your portfolio, reinvest your dividends, and offer tax loss harvesting. Both have slick, easy-to-use websites.

But there are some significant differences between Wealthfront and Betterment upon closer inspection. A podcast listener named Dan touched on this in a recent email:

Are you going to do a podcast on what made you choose Wealthfront for your taxable account (other than to keep multiple sponsors happy!)? I assume it’s for the Wealthfront 500 and tax-loss harvesting benefits it offers, but Betterment counters that this is only done on a portion of the account, and not worth the added cost. Is this the future of indexing or a gimmick? Still very interested in this topic (robo-advisors) which you brought to my attention.

Many thanks,
Dan

(Betterment was at one time a sponsor of the Dough Roller Money Podcast. As of today, neither Betterment nor Wealthfront are sponsors, but both offer affiliate programs that I participate in.)

So, let’s address Dan’s question about Betterment versus Wealthfront, starting with the basics.

Listen to the Podcast of this Article

1. Account Types

Wealthfront offers the following account types:

• Taxable accounts (personal, joint, trust & corporate)
• Traditional IRA accounts
• Roth IRA accounts
• SEP-IRA accounts (for small businesses)
• IRA transfers
• 401(k) rollovers
• 529 college savings plan accounts

Betterment options are more limited:

• Taxable accounts (personal, joint, revocable trusts, irrevocable trusts)
• Traditional IRA accounts (including 401(k) rollovers)
• Roth IRA accounts
• SEP IRA accounts
• 401(k)

2. Cost

Which one is cheaper depends on your account balance.  In addition to the costs of the ETFs, each service charges a management fee.

Wealthfront: Charges a flat rate of .25% of assets under management, though the first $10,000 is free.

Betterment: Betterment announced a new fee structure in February 2017. Their fees now fall into three categories: Regular, Plus, and Premium.

The fees are as follows:

• Regular – 0.25%
• Plus – 0.40%; minimum 100K and an annual call with their CFP and licensed financial experts
• Premium – 0.50%; minimum 250K and unlimited calls with their CFP and licensed financial experts

Related: How Half a Percent Can Ruin Your Retirement

As you can see, Betterment uses a sliding scale in which the fee actually increases as your balance increases. As a rule, you’ll be better off with Wealthfront in any scenario in terms of costs; you simply get more access to financial experts for more of your money in fees w/ Betterment.

3. Asset Allocation

Both use solid asset allocation plans. They each allocate your money into different exchange traded funds (ETFs). Personally, I think both platforms have reasonable asset allocation plans.

But there are also some differences:

1. Betterment favors value funds – companies that are undervalued according to certain measures, like P/E ratio.
2. Wealthfront has real estate investment trusts (REITs), Betterment does not.
3. Wealthfront has commodities, Betterment does not.
4. Wealthfront tilts toward dividend paying stocks – they have a high dividend yield ETF, while Betterment doesn’t.
5. Wealthfront has no US government bonds – yields are low so they don’t see them as a good investment; Betterment does have US bonds.

On balance, I prefer Wealthfront, but it’s a close call. You may see if differently based on your own investment preferences.

Learn More About Asset Allocation

4. Website

Both are easy to use and to understand. It’s also easy to change asset allocations. But I think Betterment is the better of the two.

5. Tax Loss Harvesting

Both offer it, but you have to have a certain account minimum for each.  With both Betterment and WealthFront there are no minimums for tax loss harvesting.

Tax loss harvesting doesn’t eliminate your tax liability, it defers it. That has value, because the more money you can keep in your account, the more you can earn on that balance.

For that reason, there’s no doubt that tax loss harvesting has value, and increases your return. It’s almost impossible, however, to quantify the value of tax loss harvesting.

Wealthfront does offer a unique tax loss harvesting feature called the Wealthfront 500.  For those with at least $500,000 in a taxable account, Wealthfront will buy shares in all 500 companies in the S&P 500, rather than invest in an index ETF.

By doing so, they can generate additional tax losses on a company by company basis.  They plan to roll out a similar feature for those with balances of at least $100,000.

6. Account Minimums

Wealthfront has a minimum of $500 (down from $5,000) to open an account. Betterment currently has no account minimum required, and you are not charged a fee for an account that has a $0 balance.

I confess to having a personal bias toward Vanguard. I’ve been with them a long time. But both Betterment and Wealthfront are good options.

Topics: Investing • Podcast

The post Betterment vs. Wealthfront: Which Is the Best Robo-Advisor in 2017? appeared first on The Dough Roller.

from The Dough Roller http://ift.tt/1AgRj3k

Hiking Mt Washington: A Chandler Brook – Wamsutta Trail Loop

And the Award Goes to…2017 Sports Club Winners!

We wrapped up our season with the 2017 Sports Clubs Banquet, held on June 2^nd at the Marina Village Bayview Room, which highlighted all the amazing things our athletes, coaches and teams accomplished this year. Sports Clubs had over 1300 athletes, 11 teams qualified for nationals, and over 190 hours of community service were completed by participants. We also honored 8 individuals for their talents and contributions to their teams and/or the program as well as 2 teams on their all-star performances in community building. And the award goes to….

Male Athlete of the Year

Alberto Montilla – Field Hockey

• Plays on the U21 USA Men’s National Team
• Plays in a high-level league in LA on weekends
• Scored multiple times in the Men’s Super Division at Cal Cup (Field Hockey Super Bowl)

Chris Griebenow – Men’s Club Volleyball

• Leader on and off the court
• Has played volleyball for 17 years
• Started in every position during the 16-17 season
• Played internationally – summer 2016
  

Female Athlete of the Year

Tran Huynh – Table Tennis

• Co-Ed Varsity player, a team usually dominated by men
• Carried women’s team to 1^st in Divisionals
• 1^st Place in Women’s Singles
• Competed at Nationals, winning Women’s Consolation Bracket
  

Captain of the Year

Taylor Williams – Dance Team

• Captain for 3 years
• Balances schoolwork, research labs, sorority life, and her responsibilities as captain
• Great communication, organization, & leadership skills.
• Dedicated to her team and inspirational to her peers
  

Coach of the Year

Tiffany Coles – Women’s Club Water Polo

• Full-ride to Long Beach State & then transferred to UCSD to play NCAA for a year
• Coached Granite Hills High School for 6 years & UCSD for the past 3 years
• Cares about individual athlete & team goals, and leads them to strong league performances
• Hoping to lead the team to a National Championship tournament in the 2017-2018 season
  

Dustin Newell Memorial Award

Hannah Caskey & Macey Rafter – Women’s Club Water Polo

• They supported numerous other Sports Club teams throughout the 16-17 academic year and encouraged their team to attend SC community events.
• They lead by example both in and out of the pool
• Macey’s impact will be greatly missed by her team and the Sports Clubs Community next year
• Hannah will be returning for the 17-18 season and continue to improve upon their success
• They also represented both Recreation and Sports Facilities as Co-Chairs for the Sports Facilities Advisory Board
  

Jeff Simon Memorial Award

Wing Ly – Women’s Rugby

• On-field captain who was the first one to the field and the last one off
• Would have been a contender for MVP, but tore her ACL in the fall of her senior season. She still attended every game, practice, team event, meeting, etc.
• Helped develop new players with different drills and techniques and took on a coaching role throughout the season
• Ever since freshman year has done everything to grow in the sport and is truly an inspiration to her teammates, coaches, & peers.
   

The “One Team” Award

Women’s Club Water Polo

• Participated in every Sports Clubs Community event from Dodgeball and Challenge Course to the Campus Clean-Up.
• Won the Sports Clubs Super Fan challenge by attending other games and supporting the most teams in the program this year.
  

The Community Service Award

Dance Team

• Participated in 4 community service events totaling 23 hours
• Helped with Celebrate San Diego, an event that celebrated the San Diego community where over 12,000 people attended
• Had almost full team participation at all events, including working with the Surfing Madonna Ocean Project with their annual Beach Run
  

 Thanks to all of our incredible Sports Clubs Athletes for another amazing year! If you are interested in joining a Sports Club you can find out more information and contact team captains directly here. 

 

from UCSD Recreation http://ift.tt/2s3Czsg

USAA Auto Insurance Review: Does It Live Up to Its Perfect Score?

USAA is a highly ranked auto insurance company that consistently shines in consumer surveys. In fact, the company earned a perfect score in the category of Overall Satisfaction from the 2016 J.D. Power U.S. Auto Insurance Claims Satisfaction Study.

The interesting thing about USAA is that it provides banking and investing services in addition to auto insurance. This could make it a good choice if you’re the type who likes to bundle services with one provider. That would make it easier to pay bills and stay organized.

Of course, simply using the auto insurance portion of what this company has to offer is perfectly fine, especially considering all they have to offer.

Who Can Use USAA Auto Insurance?

Auto insurance from USAA is only available to policyholders who are affiliated with the military. You must be an active, retired, or honorably separated member of the United States Armed Forces to qualify for a policy. This extends to veterans and candidates in commissioning programs.

In addition, spouses, former spouses, and children of USAA members are also eligible to obtain policies.

Related: Learn More About the New Military Retirement Option

The Highlights of USAA Auto Insurance

USAA offers some perks that most other companies simply can’t touch.

The company provides guaranteed renewal of your auto policy as long as you’re able to drive and meet a few simple requirements.

Customers also get a very generous policy for accident forgiveness. USAA will forgive one at-fault accident after 5 years of membership without increasing your auto insurance premiums. The one stipulation is that for some states, this feature is an optional add-on (for a fee).

In addition to a standard auto policy, you can purchase extended vehicle protection, motorcycle insurance, RV insurance, and boat insurance. Drivers who store their cars at military bases can get a 15 percent discount on their comprehensive coverage in most states.

Resource: 23 Active Duty Military ID Card Perks You Need to Know About

USAA has also earned high scores for providing excellent customer service, speedy claims, and prompt adjustment approval in a number of customer surveys.

Filing a claim with USAA is a pretty straightforward process. Customers can place calls using a special claims hotline. They can also download a mobile app that allows them to report claims, submit photos, and view a claim’s status.

How Much Does USAA Auto Insurance Cost?

USAA offers three tiers of coverage from which customers can choose: basic, standard, and expanded.

In order to get a good baseline for comparison, here are the specs I included when requesting a quote :

• 2009 Honda Civic
• 75,000 miles
• located in the Northeast
• Two drivers, ages 30-39, with clean driving records
  

Basic Coverage

When I entered the car/driver info above, I got a quote of $115 per month for Basic Coverage for both my wife and I. This includes:

• Bodily injury liability totaling $20,000 per person and $40,000 per accident
• Property damage liability totaling $10,000 per accident
• Comprehensive coverage with a $500 deductible per occurrence
• Collision coverage with a $500 deductible per occurrence
• Rental reimbursement
• Towing and labor
• Uninsured/underinsured motorist coverage
• Coverage for medical payments

The deductible and rental reimbursement are what I was looking for, so this was a pretty good option for me. This also meets the minimum required coverage for my state. However, I would like to have a bit more property and bodily injury liability coverage, so I continued on.

Want to Know Your State’s Required Liability Coverage? See a List of Each State’s Minimums Here

Standard Coverage

For just a few more dollars a month, I was offered a much higher liability limit for both property and bodily injury. This is, as mentioned, more than what my state requires by law. I prefer to hold coverage over the minimum anyway, though.

Standard Coverage for the same vehicle was quoted at $130 per month. Here’s what I’ll get in this tier:

• Bodily injury liability totaling $50,000 per person and $100,000 per accident
• Property damage liability totaling $50,000 per accident
• Comprehensive coverage with a $500 deductible per occurrence
• Collision coverage with a $500 deductible per occurrence
• Rental reimbursement
• Towing and labor
• Uninsured/underinsured motorist coverage
• Coverage for medical payments

Everything is the same — I’ll still be reimbursed for my rental car fees; I’m still covered if someone who is uninsured or underinsured hits me or my car; and, my vehicle will still be towed if needed — except that I have significantly increased my liability coverage.

Expanded Coverage

If I want even more, USAA has one more option for me.

Expanded Coverage offered increased protection for the same vehicle at a quoted price of $140 per month. Here’s what I’ll get at this tier of coverage:

• Bodily injury liability totaling $100,000 per person and $300,000 per accident
• Property damage liability totaling $100,000 per accident
• Comprehensive coverage with a $500 deductible per occurrence
• Collision coverage with a $500 deductible per occurrence
• Towing and labor
• Uninsured/underinsured motorist coverage
• Coverage for medical payments

It is easy to see after looking at quotes from USAA that the company makes it possible to double, or even triple, your amount of coverage beyond the legal minimum. The added premium essentially boils down to a few extra cents per day.

Learn More: 15 Auto Insurance Discounts You May Be Missing

Is USAA a Good Choice?

USAA should definitely be at the top of your list if your military status (or the military status of a spouse or parent) qualifies you to obtain a policy. This company delivers the total package when it comes to reasonable rates and great service. It consistently earns awards and high rankings from enterprises like J.D. Power and Consumer Reports, and has a great reputation in the industry.

USAA is especially convenient if you’re looking to bundle your auto insurance together with other services, such as checking and savings accounts, property coverage, or loans. To learn more or get a quote, visit their website at USAA.com.

Topics: Auto Insurance

The post USAA Auto Insurance Review: Does It Live Up to Its Perfect Score? appeared first on The Dough Roller.

from The Dough Roller http://ift.tt/2sm0anL

Curtain Do’s and Don’ts

Out of all the window treatment choices out there, curtains are possibly the most famous. They offer versatility that suits any window in your home, and they are available in a wide array of colors and textures. Despite how adaptable they can be, there are still do’s and don’ts to follow when hanging curtains.

Image Source: Flickr

DO hang high
The higher the rod, the taller the window will appear, so fix your curtain rod closer to the ceiling than the top of your window. The rule of thumb is that they should sit 4-6 inches above the window frame.

DON’T go too short
Unless you are using cafe-style curtains, the fabric should fall to the floor. These are the highwater pants of curtains and not a good look. A little puddling can be nice if you want a romantic feel but if you don’t want to worry about them dragging and getting dirty, then stop the fabric just before they hit the floor — a little under an inch is good. Source: ApartmentTherapy

DO consider the light. Which room are you curtaining? If it’s the bedroom, do you like to be woken by the first rays of daylight or do you prefer total darkness? Make sure your curtains comfortably clear the sides of the window if so and think about blackout linings or blinds behind.

DON’T be exclusive. Just because you’ve decided to hang curtains doesn’t mean getting rid of blinds. In some rooms different window treatments can complement each other. Source: InsideOut

DON’T forget the hardware. Curtain rods and finials should “match” the fabric. Heavier drapes such as velvets should be on a large and somewhat decorative rods while light silks and sheers can sit on light-weight and more dainty rods. That said, they should also “match” the rest of the room. Make sure they connect to something in the room.

For instance, if you’ve got Lucite lamps or chairs, a Lucite drapery rod might be in order.

DO consider what fabric is best. Cotton is versatile and easy to clean; velvet is luxurious and private but can be a bit heavy for some rooms; sheers are light and graceful but don’t offer much in the way of privacy; and wool is heavy but strong enough to hold embellishments like tassels and fringe. Source: TheSpruce

Get to know more about the curtains that will best fit your home when you contact us!

 

Contact:
Universal Blinds 
601 – 1550 W. 10th Ave
Vancouver, V6J 1Z9
Canada
Phone: (604) 559-1988

The post Curtain Do’s and Don’ts appeared first on Universal Blinds, Shades & Shutters.

from Universal Blinds, Shades & Shutters http://ift.tt/2sPOYmP

3 Tips to Converting a Tub to a Shower

Content originally published and Shared from http://perfectbath.com

Converting a bathtub into a shower is not as difficult as you may think. If you don’t use your bathtub for bathing, why not convert your old bathtub into a walk in shower? Here are 3 tips on converting a tub to a shower.

Determine Spacing & Placement
A bathtub to shower conversion is easiest when you situate your new open shower in the space left behind by your bathtub, since your drain lines and water supply will already be in place. Moving plumbing can add significant cost to the project, plus require bringing in a plumber.

Spacing Required for a Walk In Shower:

• At least 30 inches by 30 inches of floor space.
• At least 80 inches in height.
• At least 15 inches between the side of the toilet and the shower wall.
• Or at least 21 inches between the front of the toilet and the shower wall.
• If you plan to install a swinging door, make sure to account for the swing. Source: BudgetDumpster

Waterproofing and Drainage
Properly sealing the shower floor from water leaks will help protect your home from problems associated with water leaks, like wood rot, drywall damage and mold. Hot mops are prepared onsite and are the best way to waterproof the shower pan.

A standard drain may not be sufficient to stand the test of time. To ensure your shower remodel lasts for many years, select a high quality and durable drain. Source: Angieslist

Which Type of Shower Works Best for Your Space?
Now that you have some ideas about what you want your shower to look like, you’ll want to consider the best type of shower to install in your bathroom.

Shower stalls
All-in-one shower stalls that can be added to an existing tub-sized space can make your job easier. Many options exist with built-in ledges and shelving; some even have seating areas. The stalls typically include a curb to contain water and the option of installing any type of door you wish — or even just using a curtain.

Tiled shower curbs
A tiled shower created in the existing wall space usually necessitates a curb or ledge that will hold the door and keep the water inside the shower. The curb should be tall enough to contain moisture and short enough to step over easily. Curbs should also be polished and have smooth edges to reduce injury.

Curbless showers
Showers with no lip to contain the water make it much easier to access the shower, especially for the elderly or disabled. But beyond that, curbless showers offer a particular open look that is appealing and modern. The curbless style can also save you a little space if you’re making the most of a small area.

The issue with a curbless shower, of course, is the difficulty of containing the water. This problem can be minimized by choosing a shower screen — essentially, a pivoting glass door — and a directed showerhead that keeps the flow of water moving away from the rest of the bathroom. Source: HomeAdvisor

 

Contact:
Perfect Bath
Phone: Toll Free 1-866-843-1641
Calgary, Alberta
Email: info@perfectbath.com

The post 3 Tips to Converting a Tub to a Shower appeared first on Perfect Bath Canada.

from Perfect Bath Canada http://ift.tt/2uh2MVa

How to Find North with a Compass and Take a Pee without Getting Lost

Climbing to Mahoosuc Arm and Old Speck Pond

Q & A: How Do I Use My Steam Bath For The First Time

Content originally published and Shared from http://perfectbath.com

So, you’ve taken the plunge (so to speak) and purchased your very own steam shower. Perhaps you’ve opted for a pre-fabricated, modular type that’s ready to use as soon as the pieces are properly secured and sealed. Or, perhaps you’ve splurged on a complete custom steam room. Whichever course you’ve followed, you can now have a personal spa experience any time you feel like it.

Even though you have the user instructions that came with the steam shower unit, and advice from either our support technicians or your own contractor, you may be wondering how exactly you should use your steam shower for the first time.

Best tips for getting most enjoyment out of steam shower.

Begin by ensuring that your body temperature is at room temperature or cooler. Then, turn on the steam function. Sit back on the bench and soak up the warm steam for no more than 30 minutes. Afterwards, you can cool off by stepping out of the steam shower unit. Or, you can stand under the cool spray of the water. The key to enjoying the whole experience is to move gradually from one step to the other. Don’t shock your system by jumping into hot steam or standing under cold water at the end.

Did you opt for a combination steam shower-whirlpool tub? Lucky you! You have the option of switching at will between a relaxing steam shower and soaking in a luxury steam bath. As with the steam shower, make sure your body is not already too warm before slipping into the whirlpool tub. The key is to always make sure that you don’t overtax your circulation. “Used properly, a steam bath will help to overcome the stresses of everyday life, to relax and recover, and to gain new strength and improve general physical and mental well being” .

Do you have questions about how to use your steam shower or whirlpool tub? Ask us!

Contributed by: Perfectbath.com steam shower experts

The post Q & A: How Do I Use My Steam Bath For The First Time appeared first on Perfect Bath Canada.

from Perfect Bath Canada http://ift.tt/2sYNpkW

Thermarest Slacker Hammock Sleeping Pad Review

JL Collins’ Tips for Achieving Financial Independence

It is not often that people become financially independent a mere 15 years after starting their career.

Although he didn’t know it right away, Jim Collins did just that. In 1989, he became financially independent, only a decade and a half into his profession.

Jim Collins is now the author of A Simple Path to Wealth and also has his own financial blog, jlcollinsnh. He began his blog as a way to share different financial strategies with his daughter, family, and friends, that may help them become financially independent as well.

Through the past six years that Jim has had his blog, he has met hundreds of like-minded people. He has also expanded his blog to an annual trip to Ecuador, which he likes to call a Chautauqua — a place where people come together to share ideas, concepts, and companionship.

In today’s podcast, I will be talking to him about how he did it, his blog, and his new book, A Simple Path to Wealth. I also ask him for some tips on how we can all achieve financial independence.

Topics Covered in the Interview:

• Why Jim Collins began blogging
• Meaning of Chautauqua
• The Pop-Up Business School
• This year’s Chautauqua in the UK
• The meaning of financial independence, according to Jim Collins
• The difference between “FU money” and financial independence
• The 4% rule
• How much money do you need to retire?
• Saving at a high rate — investing in your freedom vs. buying something new or extra
• Was there ever a time when Jim Collins felt like he was missing out?
• Bond market funds vs. simplified portfolios — which is the better choice?
• Buying individual stocks

Resources Mentioned in the Interview:

• jlcollinsnh
• The Chautauqua institution
• PopUp Business School
• Vanguard Total Stock Market Index Fund Admiral Shares
• Mr. Money Mustache
• Afford Anything
• Mad Fiendtist
• Millennial Revolution
• A Simple Plan to Wealth

Here’s the podcast audio, followed by a transcript of the interview:

Topics: Podcast

The post JL Collins’ Tips for Achieving Financial Independence appeared first on The Dough Roller.

from The Dough Roller http://ift.tt/2tdaW4u

ENO SubLink Hammock Shelter System Review

5 Quick and Easy Ways To Start Your Christmas Saving Plans Now

I know, I know, Christmas is months away. Exactly half a year away, in fact. So, why are we talking about it right now?

Well, it’s because way too many Americans go into massive amounts of debt for the holidays — precisely because they don’t start thinking about them now.

Not convinced that you need to start thinking about St. Nick when you haven’t even gone on your summer vacation? Check out these statistics from the National Retail Federation:

• In 2016, holiday retail sales boomed to $658.3 billion during November and December.
• American’s planned to dole out about $935 on average last holiday season.
• Many Americans planned to spend some holiday cash — around $140 — on themselves.

That’s a lot of spending to plan for! And, unfortunately, all too many Americans fail to plan at all.

In 2015, Americans who took on debt at the holidays added $986 on average to their balances. About half of those debtors put their holiday spending on a credit card. Many used uber-expensive store cards or, even worse, payday or title loans.

Resource: 10 Lies That Got You (and Will Keep You) In Credit Card Debt

Sure, $1,000 may seem like a reasonable amount of debt to deal with, especially if you don’t carry a lot of debt otherwise. But with interest rates increasing, that balance could cost you a ton of money until you get it paid off.

Besides, why add any debt if you don’t have to?

Luckily, you don’t have to go into credit card debt over the holidays this year. At least, not if you implement a few of these easy, sneaky ways to start your Christmas saving plans right now.

Implement automatic transfers

Automating your savings works spectacularly when setting aside money for retirement or meeting other savings goals. When money automatically comes out of your account as soon as your paycheck hits, you barely notice that it’s gone.

There’s no time to spend it frivolously, you don’t account for it in your play money, and you can’t talk yourself into using it toward some other expense. It’s out of sight, out of mind.

There are two keys to making an automatic transfer like this work.

• Set a savings goal. Look ahead now to the holidays, and decide how much you want to have saved by then. Divide that amount out monthly (by 6, if starting now), and transfer that amount to your savings account each month.
• Earmark the money. Make sure your holiday savings don’t get mixed in with general purpose savings.

The easiest option here is to open a free savings account where you can hold the cash until it’s time to shop. You could also earmark it in your budget if you’re a strict budgeter, or use a bank account that allows you to separate money for specific purposes within the same account if you’re not. (These are often referred to as sub-accounts. Many banks, such as USAA and Capital One 360, allow you to add a number of these for free.)

Related: How Mint Can Help You Manage Your Budget

Join a Christmas Club

Another option is to join a Christmas Club. Some workplaces still offer these options, so see if it’s available to you.

Basically, they set aside a portion of each of your paychecks. That money either goes into an account you can access, or comes to you in the form of an extra check come November or December. It’s a sort of forced savings that you may need to sign up for during your annual enrollment period.

If your employer doesn’t offer a Christmas Club option, look into local credit unions that do. These accounts can operate similarly to an automated savings account. It’s simply a dedicated (and ideally, free) savings account, which is funded by regular automatic transfers.

By the end of the year, you could have a tidy sum saved up for holiday shopping.

Don’t claim those reimbursements

Do you have a dependent-care FSA or an HSA, through your employer or healthcare plan? Unless your account gives you a dedicated debit card to use for qualified expenses, you likely have to apply for reimbursements.

Usually, the rule is that you have to apply for those reimbursements by the end of the year. You don’t necessarily need to submit receipts before then, though.

For instance, I am maxing out my dependent-care FSA benefits this year (because two kids in full-time care is no joke, people!). The $5,000 limit over the year amounts to $416 and some change each month. While I can apply for reimbursement once a month when I get paid, I don’t have to do so.

Instead, I could hold back on just two months’ worth of reimbursement. Then, I can claim them in mid-November, and the reimbursement would more than cover my holiday shopping needs.

If you have a similar reimbursement account, you may be able to do the same thing.

Start stockpiling gifts

This option doesn’t really save money for the holidays. It has the same effect, though, in that you’ll spend less during holiday shopping season. Plus, if you start shopping for gifts well ahead of time, you may find much cheaper gifts and be able to capitalize on sales or coupons.

Learn More: The 6 Best Credit Cards for Holiday Shopping

This is especially true if you’re willing to buy some gifts as high-quality secondhand items. Thrift shopping, garage sale hunting, and trawling eBay are all great ways to find interesting, unique gifts for less. The problem is that you need more time when shopping this way, so you have to start much earlier.

This is also the case if you like to hand-make holiday gifts. Starting now gives you more time to craft high-quality gifts that your friends and family will love. Since you have plenty of time, you can wait until any necessary materials go on sale at your local craft store, to net even more savings.

Combine this option with an automated savings option, and you’ll have money available to spend on holiday gifts when you stumble upon them or have time to create. The only question that remains is where to store all those gifts in the meantime!

Save up your rewards

Finally, don’t forget about the power of a good rewards credit card. Used responsibly, a good cashback credit card can get you some great rewards saved up, just in time for the holidays.

Check out our list of the best rewards cards if you’re interested in a new option. Then, rack up the cash back on everyday spending and pay down your balance each month. Those rewards will be ready to spend come the holidays!

Related: How to Spend the Same But Get More With Cash Back Rewards

Are you already saving for Christmas? How are you making it happen? Let us know in the comments!

Topics: Budget

The post 5 Quick and Easy Ways To Start Your Christmas Saving Plans Now appeared first on The Dough Roller.

from The Dough Roller http://ift.tt/2rK4Fst

Camping Hammock Length and Comfort: How to Choose

Capitol from Porte Homes

A new take on Modern Living

Boasting a hillside advantage within New Westminster, Capitol’s 1 to 3 bedroom homes confidently represents a modern way to live. Expansive and functional kitchens, ample storage, and large patios give a sense of open space. An outdoor courtyard, fitness studio, and garden plots create community. Easy SkyTrain access and nearby shops and services illustrate convenience. Homes at Capitol make an impression on life.

The post Capitol from Porte Homes appeared first on Vancouver New Condos.

from Buildings – Vancouver New Condos http://ift.tt/2sGIl4u

Capitol from Porte Homes

A new take on Modern Living

Boasting a hillside advantage within New Westminster, Capitol’s 1 to 3 bedroom homes confidently represents a modern way to live. Expansive and functional kitchens, ample storage, and large patios give a sense of open space. An outdoor courtyard, fitness studio, and garden plots create community. Easy SkyTrain access and nearby shops and services illustrate convenience. Homes at Capitol make an impression on life.

The post Capitol from Porte Homes appeared first on Vancouver New Condos.

from Buildings – Vancouver New Condos http://ift.tt/2sGIl4u

The 10 Most Expensive States to Insure Your Automobile

As any driver knows, a whole host of variables can affect how much you pay to insure a car on the road.

Getting older? The most dangerous drivers are younger than 25. The safest, between 50 and 65. Statistically safer drivers, women tend to pay less overall.

Accidents and tickets within a recent number of years will drive up your premiums. A poor credit rating can drive up your premium, and an expensive car certainly will.

However, there’s one variable a driver can’t do much to change: geography.

Here are the ten states in which it’s most expensive to insure a motor vehicle (numbers are based on average policy costs across all states):

1. Michigan – I was actually surprised to find this state at the top of the list, with residents shelling out an average of $2,551 in premiums each year.
2. West Virginia – In the Mountain State, an annual premium of $2,518 is typical.
3. Georgia – Hold on to your peaches! If you live in Georgia, you should expect to spend around $2,201 each year.
4. Washington, D.C. – Our nation’s capital has been a steady presence in the top 5 of these “most expensive to insure” lists over the years, and it doesn’t look to be changing anytime soon. If you’re driving past Pennsylvania Avenue, expect to pay an average of $2,127 annually.
5. Rhode Island – Residents of the smallest state pay, on average, $2,020 each year.
6. Montana – Big Sky State, big premiums. Residents of this beautiful state pay an average of $2,013 a year in insurance premiums.
7. Louisiana – Sure, you’ve got the best jambalaya around, but you’ve also got some hefty auto insurance bills. Louisiana’s average? $1,971.
8. California – This state ranks #1 in population but (luckily) only #8 in insurance premiums. Drivers in California shell out $1,962 annually to keep their vehicles on the road.
9. New Jersey – Garden State residents pay an average of $1,905 per year.
10. Florida – At first glance, one might think the large retiree population in Florida might drive down insurance averages. Nope, not so: Florida residents pay an average $1,830 each year.

Wondering how far these states’ premiums are from the middle of the road (pun intended)?  The average annual auto insurance premium in the United States is $907.

Related: The 10 Most (and Least) Expensive Cars to Insure

So, why the higher costs in these states? It could be any number of reasons.

For instance, in states with a healthy economy, drivers tend to buy newer cars. New car owners are more likely to pay an extra premium to cover for physical damages, driving up average cost.

You’ll also notice that high premium states tend to be more urban states. More drivers means more traffic which leads to more accidents. This then translates to more risk for the insurance company and higher premiums for premium paying drivers.

Other factors affecting premiums include theft rates, and varying liability requirements from state to state.

Learn More: 25 Factors That Impact Auto Insurance Premiums

Remember, some things affect your premiums regardless of where you live.

To make sure you’re getting the best bargain, check your credit report to make sure it’s accurate, and consider installing an anti-theft tracking device. Depending on the discount offered by your insurer, it might pay for itself. Plus, it will give you the added benefit of peace of mind. Some of them (like this one on Amazon) are even less than $35.

Call your insurer to see if there are any discounts offered. There may be some for which you qualify, but are not yet taking advantage of.

Finally, make sure you do your homework and shop around. Compare auto quotes online to make sure you’re paying bottom dollar for top dollar coverage.

Topics: Auto Insurance

The post The 10 Most Expensive States to Insure Your Automobile appeared first on The Dough Roller.

from The Dough Roller http://ift.tt/2sFmTN5

Étoile by Millennium – Availability, Plans, Pricing

At a Glance

• 26- & 32-storey residential buildings
• 390 x 1- to 3-bedroom condos
• 8 work/live townhouses
• heated rooftop pool
• fitness centre
• close to Brentwood Town Centre shopping
• near BCIT & SFU
• walking distance to Skytrain

Where Elegance Resides

Étoile is a premium collection of 398 new Burnaby residences situated in rapidly-developing Brentwood Town Centre. Two slender towers provide one- to three-bedroom condominiums and townhomes that will feature spacious floorplans and large balconies, extending your living space outdoors for you to enjoy spectacular panoramic views.

Be A Presale Condo VIP!

Find Out About New Presales & Get Access to VIP Openings & Special Promotions!

Are you a realtor? Click here

• First/Last Name *
• E-mail *
• Phone
• *
  Select A Region * Vancouver Downtown Vancouver East Side Vancouver West Side Vancouver South North Shore Burnaby/New West Coquitlam/Tri Cities Richmond Langley/Surrey
• I Am Interested In *
  New Vancouver Presale Condos Buying a Condo Selling my Condo
• Realtor Status *
  I already have a Realtor I don't have a Realtor yet
• Comment/Notes
• Page Label
• Type
• Receipent
• Security Code *
  

  
• Should be Empty:

Étoile is ideally located just a short drive away from the numerous shops, services, and restaurants surrounding the intersection of Willingdon and Lougheed Highway, making it easy to take care of day-to-day necessities. Holdom Skytrain station is a mere five-minute walk away, providing convenient access to Vancouver, the Tri-Cities, and New Westminster. For outdoor activities you needn’t venture far. Burnaby Lake Regional Park features 19 kilometres of walking trails, rowing, kayaking, archery, tennis, and an equestrian centre.

Pricing for Étoile
For interested buyers, contact me for details.

Floor Plans for Étoile
This project is currently in pre-construction. A variety of open floor plans will be available with the following unit mix:

• 196 x 1-bedroom condos from 574-584 sq ft
• 182 x 2-bedroom + den condos from 821-1,247 sq ft
• 12 x 3-bedroom condos from 1,031-1,036 sq ft
• 8 x 3-bedroom + work area townhomes

For priority property evaluations, we recommend joining our VIP list by subscribing above.

Étoile Interiors
Each home features 9′ ceilings, central air-conditioning, unobstructed panoramic mountain views, and large balconies. Every detail has been thoughtfully designed to create the most livable floorplans, with nearly every unit being a corner unit.

Amenities at Étoile
A grand porte cochère and spacious lobby offer an impressive welcome to your home, or you can choose to entertain guests in the ground floor lounge. A heated rooftop swimming pool means you can warm down from a workout in the fitness room throughout the year. The landscaped podium deck also includes a children’s play zone, barbeque area, seating, and garden plots.

Parking and Storage
Étoile will offer 459 vehicle parking spaces on four levels — one underground and three above ground — 44 of which will have electric vehicle charging stations, 39 will be for visitors, and five will be accessible parking stalls. There will also be four car share vehicles, 797 secured bicycle stalls, 92 visitor bicycle spaces, a 4-station bicycle repair/maintenance area, bike trailer storage, and 2 residential loading bays.

Maintenance Fees at Étoile
Will be included with pricing information.

Developer Team for Étoile
Millennium Development Group is an award-winning, Vancouver-based real estate developer and master-planned community builder. They strive to create legacies through thoughtful design and high-quality construction that complements the natural beauty of the West Coast landscape. Millennium’s projects include mixed-use complexes, residential towers, shopping malls, office buildings, and industrial centres representing approximately $6 billion built or under development in Canada and abroad. Notable projects include the Olympic Village, City in the Park, One Madison Avenue, Bristol at UBC, and One University Crescent at SFU.

Chris Dikeakos Architects is a Burnaby-based architectural firm with a strong reputation for multi-unit and highrise residential design. Their work ranges from concept and design development to construction drawings and site services, site capacity studies, master planning, urban design, and rezoning. Projects include the tallest residential highrise in San Diego, the tallest pure residential highrise in Los Angeles, and Solo District and Station Square in Burnaby.

CHIL Interior Design is the hospitality studio of B+H, a global leader in interior design, architecture, and planning & landscape. CHIL’s award-winning portfolio spans Asia-Pacific, Europe, the Middle East, North and South America for brands such as Shangri-La, Hilton, Fairmont, Marriott, and Four Seasons. Originally founded in 1974, CHIL leverages global resources to produce designs that are guided by their clients’ vision and goals. Each client’s story is translated into a physical space. Deep research and an understanding of current and future trends result in spaces that improve the way people live, work, play, relax, and heal.

Expected Completion for Étoile
2020.

Are you interested in learning more about other condos in Brentwood, Highgate, Lougheed, or Metrotown?

Check out these great Burnaby Properties!

The post Étoile by Millennium – Availability, Plans, Pricing appeared first on Mike Stewart.

from Blog – Mike Stewart http://ift.tt/2sCsYtH

The Ultimate Guide to Eliminating Your Law School Debt

The year was 1992. I had just graduated from Boston University Law School, magna cum laude no less. My mom was proud.

The school handed me a diploma. The government handed me $55,000 in school loans.

In today’s dollars, my law school debt was the equivalent of about $100,000. Ouch.

It’s somewhat ironic that after 25 years of practicing law, I retired at the ripe old age of 49 to write about personal finance and investing. Though, that’s a story for another time. Today, the topic is law school student loans.

It’s no secret that the average law school cost can be an arm and a leg. And many students have to finance that arm and leg. So, just how much debt does the average law student incur?

One analysis showed that students with professional practice degrees have a much higher average amount of debt than other students. In fact, 37 percent of them owe more than $50,000 in student loans.

Grads coming from the top law schools could have even more debt. The latest U.S. News & World Report rankings show that 2016 graduates from Thomas Jefferson School of Law have an average of $182,411 in student loan debt. Columbia University graduates averaged $159,789 in the hole.

Even on a median lawyer’s salary of $118,160 per year, that amount of debt could take quite a while to pay off. If you want to work for the government, you could be looking at less than that for an average salary – -about $88,000 in 2016 — and an even lower starting salary.

But there is good news.

There are plenty of great assistance programs designed to specifically help lawyers repay their student loans. Some of these programs will even get part of your loan balances forgiven.

There are also a variety of federal repayment programs and specialized loan repayment assistance programs (LRAPs) and loan forgiveness programs.

Table of Contents

• • If You Haven’t Chosen a School
  • If You’re Looking for a Job
  • State-Based Loan Forgiveness Programs
  • National Loan Forgiveness Programs
    • Department of Justice Attorney Student Loan Forgiveness Program
    • John R. Justice Student Loan Forgiveness Program
    • Herbert S. Garten Student Loan Forgiveness Program
    • Americorps Fellowships
  • Federal Student Loan Forgiveness Program
    • Federal Student Loan Consolidation
  • Choosing the Right Repayment Program
  • What About Private Loans?
  • What if You Take a High-Paying Job?
    • Student Loan Refinancing
    • Choose an Affordable Repayment Program
    • Pay Them Off Quickly
  • Putting It All Together
  • Tools and Resources

In this guide, we’ll walk you through the options for dealing with your law school-sized student loans. Before we cover specific loan forgiveness and repayment plan programs, we’ll cover some tips for those still deciding on a school.

If You Haven’t Chosen a School

If you haven’t yet applied for, or chosen, your law school, that’s a good thing.

More and more schools are offering loan repayment assistance programs. Some of these programs provide a powerful incentive for students to pursue their dreams — like working for underserved populations — that might provide plenty of motivation but not a lot of money.

These programs, such as Harvard’s Low Income Protection Plan (LIPP), help graduates avoid burdensome student loan payments if they opt for a lower-paying type of law practice. Harvard’s program, for instance, requires that graduates put a certain percentage of their income towards student loans. Then, the school pays the remaining portion of the debt.

Yale’s Career Options Assistance Program (COAP) is similar. Students who make below a certain income threshold do not pay on their student loans at all. Other students above that threshold may pay a portion of their loan payments, with COAP picking up the rest of the tab.

These programs should be considered when choosing the law school that’s right for you, especially if you plan to go into a lower-paying type of practice. Luckily, the American Bar Association keeps a list of law schools that offer LRAPs.

LRAP requirements and repayment amounts vary by school. Be sure to account for these programs when looking at the school’s total cost.

Related: The Pros and Cons to Income-Based Student Loan Repayment

So, what if you’ve already chosen a law school, or have already graduated? If you’ve never asked about your school’s LRAP, now is the time to do it. Some of these programs don’t apply retroactively, but you can use some schools’ programs long after you’ve graduated.

For instance, say that you went from law school to a high-paying, private practice job. You could handle your student loan payments just fine on your six-figure salary.

But then you got interested in a cause and decided to work for a not-for-profit serving underserved populations. The pay cut is totally worth the fulfillment you get from your new job, but how are you going to manage that $1,000-a-month loan payment? This is the time to call your alma mater to check for a student loan assistance option.

If it’s not an option, don’t worry. We’ve got several others for you.

If You’re Looking for a Job

Many legal employers offer loan repayment assistance programs. They may fund these programs on a one-off basis through grants and other means.

If you haven’t yet found a job, consider asking about employer LRAPs when you’re job searching. This valuable benefit could make it possible for you to work in a lower-paying job that services the underserved, while still being able to manage your hefty student loans.

Some large companies, such as Fidelity, offer broader student loan repayment programs to all their employees, not just lawyers. As you’ll learn below, working for the government as a lawyer could also net you some serious student loan repayment benefits.

Many civil legal aid and nonprofit legal aid employers offer similar programs. Government and non-profit loan forgiveness programs are often linked to the programs listed below.

Learn More: Student Loan Consolidation vs Refinancing: Do You Know the Difference?

State Loan Forgiveness Programs

Many states offer additional assistance to lawyers who work in underserved communities or who are employed in certain programs. Some of these programs grant you a set amount of money annually, and others pay your student loan servicer directly.

Most of these programs are run through the state’s bar association or bar association foundation. Like the school-based programs, they have income requirements. And they often require attorneys to work for non-profits or government organizations. Some of the programs require employment with specific non-profits in the state.

State	Eligibility	Amount	Other Details
Arizona	Legal aid attorneys employed by approved non-profits	Annual award amount not stated	Currently closed to new applicants
District of Columbia	Attorneys must be employed with non-profit providing direct services to low-income DC residents Publicly-funded: Must be a DC resident with salary under $84,413.16 for 2017 ($190,503.16 joint) Privately-funded: No residency restriction, but same salary restrictions	Publicly-funded: $12,000 per year up to $60,000 lifetime cap Privately-funded: $12,000 per year with no lifetime cap	Single application is available, and applicants will be placed in the appropriate program
Florida	Attorneys must work with an eligible employer and work at least 50% FTE	Foundation provides loans of $5,000 per year. Loans are forgiven annually as long as participants remained employed full-time or part-time with qualifying employers.	This benefit only covers staff attorneys working for organizations that receive general support from the Florida Bar Foundation.
Illinois	Attorneys must work with or have accepted an offer to work with a qualifying employer, and must make a commitment to work full-time with qualifying organization for five years.	Fellowship recipients receive $20,000, payable over five years.	This program only awards five fellows annually.
Indiana	Must work with a non-profit serving low-income Indiana residents. Must be licensed, employed at least part-time, and earn up to $50,000 per year.	Maximum of $5,000 per year.	Part-time workers will receive assistance at a prorated rate.
Iowa	Must be licensed attorneys employed full-time in non-profit or government job or as a public defender or prosecutor. Annual salary must not exceed $50,000, and must be an active member of the Iowa State Bar Association.	Up to $2,000 per year.	This program’s website is out-of-date. Call the Iowa State Bar Association to confirm details.
Louisiana	Attorneys must be licensed and employed in a non-profit assisting low-income individuals. Must work at least 35 hours per week, and must not exceed $60,000 per year in income.	Up to $5,000 per year.	Income requirements are higher for applicants with dependents. Income is adjusted by $5,000 for each dependent.
Maine	Attorneys employed full-time or part-time with participating employers can participate for 10 years.	Contingent on funding and pro-rated for part-time employees.	Accounts for assistance from other sources.
Maryland	Any Maryland resident (not just a lawyer) who works for state or local government or a qualifying non-profit. Gross annual salary cannot exceed $60,000 (if married, individual salary cannot exceed $75,000 and joint salaries cannot exceed $160,000)	Up to $30,000 distributed over a 3-year period, depending on total debt amount.	Law students at the University of Maryland, Baltimore or University of Baltimore can apply before graduation with documentation of official, eligible job offer.
Minnesota	Graduate from Minnesota law school or any ABA-accredited school if employed at qualified Minnesota employer. Must be employed full-time and meet the graduated income cap.	Variable depending on payments.	Applications are competitive, and awards are made in May and November annually.
Montana	Must be employed full-time with an approved non-profit or other legal organization. Income may be considered.	Up to $2,500 per year for up to five years.	Awards are given twice per year.
New Hampshire	Attorneys must be employed by NHLA, LARC, DRC, or Prop Bono, full-time or part-time. Assistance is granted on a pro-rated basis for part-time workers.	Based on a percentage of the total outstanding loans. Made as a forgivable loan contingent upon continued service.	Only the lawyer’s income and debt are counted in the formula, rather than total family income and debt.
New Mexico	Licensed attorneys must practice in public service, have loans obtained specifically for legal education, and earn under $55,000 per year.	Up to $7,200 per year.	Program requires a three-year commitment to working in public service.
New York	Must be a New York resident employed as a District Attorney, Indigent Legal Services Attorney, or Assistant District Attorney for four to nine years. Must work at least 35 hours per week.	Maximum amount of $20,400 paid in the amount of $3,400 annually.
North Carolina	Attorneys who work in public service.	Variable funding.	Mecklenburg County applications no longer being accepted.
Ohio	Attorneys must work in legal aid programs serving underserved communities.	Up to $6,000 in repayment assistance.
Oregon	Must be a practice attorney within Oregon with a civil legal aid organization or other non-profit representing low-income clients, or as a public defender or deputy district attorney. Salary cap is $65,000, and debt at the time of application must be greater than $35,000.	Forgivable loan of up to $7,500 per year for a maximum of three years.	Applicants must already be engaged in qualifying employment at the time of application.
Pennsylvania	Must be licensed to practice in Pennsylvania with a gross salary of $66,000 or less or debt service equal to 10% of the attorney’s current annual gross salary.	Forgivable annual loans paid quarterly pending ongoing employment.	Administered each year starting on September 1.
Texas	Must work full-time for a program that is a recipient of Texas Access to Justice Foundation funds, a recipient of Legal Services Corporation funds, or a non-profit providing legal services to underserved populations.	Forgivable loans. Apply for an amount equal to SLRAP loans to repay existing educational loans.	Secondary selection criteria gives priority to attorneys practicing in rural areas, in specialized areas of law, and diversity-based criteria.
Vermont	Must be licensed to practice in Vermont and be employed by Disability Rights Vermont, Have Justice-Will Travel, Inc., Legal Services Law Line of Vermont, Office of the Public Defenders, Safeline, South Royalton Legal Clinics of Vermont Law School, Spectrum Youth and Family Services, Vermont Legal Aid. Must be employed full-time or part-time with salary not in excess of $60,000.	Forgivable loan of up to $5,000 per year.	Checks are disbursed twice per year.

National Loan Forgiveness Programs

The above state-based programs are mostly administered by the state’s legal aid foundation. But there are some national programs that also favor lawyers working for certain underserved populations.

These programs include the following:

Department of Justice Attorney Student Loan Repayment Program

Any Department of Justice employee serving (or hired to serve) as an attorney can be eligible for this program.

Its goal is to help with placement in hard-to-fill positions within the Department of Justice. Attorneys are selected annually on a competitive basis, and can renew their eligibility for subsequent years of employment. Accepting the assistance locks attorneys into a three-year service obligation.

For the extensive list of requirements, click here.

This program funds up to $6,000 per year with a lifetime total of as much as $60,000.

Benefits are taxable, and the benefit amount received depends on both the attorney’s income and student loan repayment plan. The DOJ will match the attorney’s annual student loan payment amounts up to the $6,000 maximum. Attorneys whose salaries are under the threshold amount for matching funds will automatically receive the full amount.

Any payments made under this program are made directly to the attorney’s student loan servicer.

John R. Justice Student Loan Repayment Program

This program focuses on public defenders and state prosecutors. Attorneys who qualify for this program must commit to remaining in qualifying employment for at least three years. The funds are administered through state agencies.

This program can pay up to $10,000 per year, for a lifetime total of $60,000.

To qualify, attorneys must meet the following requirements:

• • • Prosecutors must be full-time employees of state or local government, including tribal government, who prosecute cases at the state or local government level.
    • Public defenders must be either full-time employees of a state or local government, including tribal government, or full-time employees of a nonprofit organization that contracts with the government to provide legal representation to the indigent or in juvenile delinquency cases.
    • Attorneys who supervise, educate, or train others who meet the above qualifications are also eligible.
    • Attorneys must not be in default on repayment of any federal student loans.

This program doesn’t have set income requirements, but does prioritize those who are least able to meet their obligation. Only federal loans — FFEL and Direct — are eligible. Parent PLUS loans, private, commercial, or alternative student loans are not eligible.

Click here for a list of state agencies that administer this program.

Resource: How to Refinance Your Student Loans in 15 Minutes

Herbert S. Garten Loan Repayment Assistance Program

This program offers as much as $5,600 per year in assistance, for up to three years. The assistance is made in the form of loans, which are forgiven at the end of the term provided the attorney remains in good standing throughout the term.

Attorneys must be employed by one of the program’s grantees. They must also meet certain other income and debt burden requirements. The system works by lottery and makes loans to approximately 70 attorneys each year, depending on funding levels.

AmeriCorps Fellowships

AmeriCorps is a Peace Corps like program that offers a small stipend plus a student loan repayment benefit to students working in underserved communities. Some of these programs are specifically for new lawyers.

For more information about legal services AmeriCorps programs, visit this page.

Federal Loan Forgiveness

The above programs are your best bet, most likely, for student loan assistance. They often have a much shorter time requirement than the federal loan forgiveness program we’ll discuss now.

However, if you don’t quality for one of these other programs — or if you still have loans left to pay after using these programs — keep the Public Service Loan Forgiveness program in mind. The Public Service Loan Forgiveness program will forgive part, or all, of your federal student loan balance after you meet certain qualifications.

To qualify, you need to:

• • • Be employed by a government organization (federal, state, local, and tribal all count), a 501(c)(3) not-for-profit organization, or another organization that provides certain types of public service
    • Be employed full-time
    • Make 120 qualifying monthly payments, which are made:
      • After October 1, 2007
      • Under a qualifying repayment plan
      • For the full amount shown on your bill
      • No later than 15 days after your due date
      • While employed full-time by a qualifying employer

Got all that? Basically, it means that if you put in ten years working with a non-profit or government organization while you’re not in school, in your loan’s grace period, or in a period of forbearance or deferment, you can have the rest of your loan balance forgiven. This program applies to Direct Loans, including Direct Consolidation Loans.

You don’t have to make these 120 payments consecutively. So, let’s say you work for a non-profit for a few years, go for-profit, and then work for the government. Any full payments you make while in the first and third jobs count towards your total credits for this program.

Be careful. The standard student loan repayment program has you paying off your student loan balance within ten years. It doesn’t take a math whiz to see how that works out. If you make standard payments, you’ll pay off your loan right at the same time you qualify for forgiveness.

The program is set up that way so that it mostly benefits workers in lower-paying jobs who qualify for income-driven repayment plans. These plans base your minimum student loan payments on your earnings.

If you’re working as a strapped-for-cash public defender, you could qualify for a lower student loan payment. The lower payment will result in a longer repayment time frame. So, when you’ve made 120 qualifying payments, the government will forgive the remaining balance.

Federal Student Loan Consolidation

What about federal student loan consolidation? Some types of student loans, including FFEL and Perkins Loans don’t qualify for this program. However, if you can consolidate these loans with a Direct Consolidation Loan, their balances will then count.

Only payments made on the Direct Consolidation Loan, though, will qualify. So, if you’re aiming to take advantage of this plan and have non-qualifying loans, you should consider consolidating them sooner rather than later.

The bottom line: PSLF is a powerful program, but only if you work in a qualifying job for enough years to get the loan forgiveness.

Choose the Right Repayment Program

Once you’ve figured out which repayment assistance programs might best suit your needs, you’ll need to decide how those programs can work together.

Let’s say, for instance, that your state’s program will pay off $15,000 of your student loans over three years, leaving you with a $50,000 balance. Talk to the program administrators and experts at the Department of Education to determine if the remaining $50,000 balance is eligible for the federal forgiveness program.

If you’re aiming for forgiveness, the goal should be to pay as little as possible towards your student loan balances during the 10-year period. You’ll need to make regular monthly payments for the amount shown on your bill. But the right repayment program might significantly lower that amount.

For federal student loans, there are several income-driven plans that will set your monthly payment based on your income. Each plan accounts for your income and family size, but each will give you a slightly different monthly payment. When you’re aiming for student loan forgiveness after ten years, choose the plan with the smallest repayment amount over that ten-year period.

Here are the basics of the four income-driven repayment plans:

Plan	Repayment Amount
REPAYE Plan	10 percent of your discretionary income
PAYE Plan	10 percent of your discretionary income up to the Standard Repayment Plan amount
Income-Based Repayment Plan	10 percent of your discretionary income up to the Standard Repayment Plan amount for new borrowers before July 1, 2014. 15 percent of discretionary income up to the Standard Repayment Plan amount for new borrowers after July 1, 2014
Income-Contingent Repayment Plan	The lesser of: 20 percent of your discretionary income What you would pay on a fixed 12-year repayment plan

So, how do you figure out which of these plans has the smallest repayment amount? Use this calculator. You can log in with your student loan credentials to get exact amounts, or just click “Proceed” to fill in your student loan information manually.

The calculator offers an option to look at your situation under the Public Service Loan Forgiveness program, as well. That way, you can see the remaining balance that would be forgiven under this program. You can also see the total amount you’d pay over ten consecutive years of qualifying payments.

Resource: How to Consolidate Your Student Loans

Keep in mind that income-driven plans require you to re-qualify over time. You’ll have to continue to provide proof of income and family size. This could cause your payments to increase or decrease over time.

Choosing a plan that keeps payments at or below the Standard Repayment Plan amount can ensure that your payments never balloon to a huge monthly amount.

Please note that for the most part, these plans lend themselves well to Direct Consolidation. If you’re planning to qualify for the federal loan forgiveness program, this lends itself well to consolidating all of your federal student loans and then choosing the repayment plan with the lowest repayment amount.

Most (though, not all) federal student loans can be consolidated as a Direct Consolidation loan. And Direct Consolidation loans are eligible for the income-driven repayment programs.

What About Private Loans?

Some private lenders do have variable loan repayment programs, but this varies from one lender to the next. Private loans cannot be consolidated with federal student loans.

Some lawyer-specific student loan assistance programs allow for repayment of private student loans, though most do not. If you qualify for a program that does, consider using it to pay down your private loans first.

Related: 5 Private Student Loans With Flexible Repayment Options

What If You Take the High-Paying Job?

So far, we’ve mostly been talking about repayment assistance programs for young lawyers who work in public service (read: lower-paying) legal jobs. But what if you land that six-figure job — or close to it — with a private firm right out of college? In this case, your options for dealing with your student loans are completely different.

There are three steps you should take.

• • 1. First, keep refinancing in mind.
    2. If you don’t immediately qualify for refinancing, choose an affordable payment program.
    3. Pay off your loans as quickly as you can.

Let’s tackle these step by step:

Student Loan Refinancing

It used to be that refinancing for student loans was unheard of. Refinancing unsecured loans carries big risks for lenders, after all.

Nowadays, though, several organizations exist primarily (or even solely) to refinance student loans. These organizations include SoFi and Credible. They’re similar to crowdfunding organizations, but with a heavy focus on student debt.

Refinancing large student loan balances can save you tens of thousands of dollars over time, with a smaller interest rate or a tighter repayment time frame. Some of these organizations could cut your interest rate in half. Plus, many offer refinancing for both federal and private student loans.

Here’s the thing, though: you have to be in a good financial position to qualify for competitive refinancing terms.

This means you need a solid credit score and a steady income. When you first graduate law school, you may not have a good credit score, and some refinancing organizations will require a year or more of employment history to qualify.

Resource: What You Need to Know About Credit Scores & Student Debt Refinancing

With a high-earning legal job, you’ll likely be able to qualify for student loan refinancing fairly quickly if you take the following steps:

• • • Make all your monthly payments on time. On-time payments will help your credit score gradually increase.
    • Consider using a credit card wisely. If you’ve never used a credit card, consider getting one that you pay off in full each month. This can also help increase your credit score.
    • Pay down revolving debts. If you already have credit cards carrying a balance, put some resources into paying down those debts, which can also help increase your credit score.
    • Maintain your high-paying job. Having a solid history of big paychecks will help you qualify for refinancing through companies like Credible and SoFi.

If you don’t qualify for refinancing right away, talk to the lender to see what you need to do in order to qualify.

Choose an Affordable Repayment Program

While you’re working towards qualifying for student loan refinancing, you may want to choose a more affordable federal loan repayment program.

With a high income, you may not qualify for income-driven repayment plans, even with a massive loan balance. But you could choose a graduated plan that will give you lower payments on the front end. These payments will gradually increase over time and will result in paying off your loan in the standard ten years.

Choosing a graduated plan now can help you free up spare cash for setting up your life as a young lawyer, like getting an apartment or saving for a down payment. If you have other outstanding debts, like credit cards, a graduated repayment plan can help you pay down those while you work to qualify for refinancing.

Learn More About Setting Effective Financial Goals

But don’t lean too heavily on this affordable repayment program for long. Paying 7% or more interest on your loans over 10 years just because that plan is available is likely not a wise use of your income.

These repayment programs can be helpful tools when you’ve first graduated. If you can, however, aim to pay off your loan in less than 10 years.

Pay Them Off Quickly

If you’re not going to qualify for a loan forgiveness program, your goal should be to pay off your student loans as quickly as possible, especially if you’re locked into a relatively high interest rate.

Once you qualify for refinancing at a much lower interest rate, you might be better off investing your extra cash each month rather than paying down student loans. But you might still wish to choose a shorter loan term so that you can offload your debt more quickly. This frees up cash to save or invest, once your debt is paid off.

Of course, we always advocate for a holistic financial plan. You may or may not want to continue saving for retirement, to buy a home, or meet other goals while paying off your debt.

The goal is to pay off your debt in a reasonable amount of time. But that doesn’t necessarily mean sacrificing all of your other financial goals to get this one done. Read more of our advice on the pay-off-debt vs. save-and-invest debate both here and here.

Related: Should You Invest or Pay Off Student Loans?

Putting it All Together

Combining all of this information together to form a plan that works best for your particular situation can be tricky. In general, though, here’s the process you should walk through:

• • 1. Determine your career options and goals:
       • If you want to work for the government or a non-profit for just a short period of time, look into loan assistance programs that require a one- to five-year commitment.
       • If you want to work long-term for the government or a non-profit, look closely at the federal loan forgiveness program. Also ask how state, school, and employer programs might work with that program.
       • If you want to land a higher-paying private job immediately, aim instead to improve your credit score and income so that you can qualify for lower-interest-rate refinancing.
    2. Find out how programs interact:
       • The rules on using a short-term loan assistance program with the federal forgiveness program are unclear. But you may be able to use a short-term program to pay some of your loan balances while counting payments that you make for yourself towards the 120 qualifying payments for federal loan forgiveness.
       • If you’ll qualify for a non-profit or government loan assistance program for a few years, take that benefit. After all, it’s free money! Then if you move into a higher-paying, private sector job, consider refinancing the remaining loan balance to qualify for better terms.
    3. Decide whether to invest or pay your debts off more quickly:
       • When you’re in a job that qualifies for loan assistance, you may not have the extra cash to throw at student debt. Just worry about making your payments on time and qualifying for that bonus as long as you can.
       • Once you move into a higher-paying job, take stock of your financial goals and situation to determine if you should pay off your student loans as quickly as possible or pay them off on time while investing your extra cash.

Tools and Resources

That’s a lot of information, I know! To keep things simple as you figure out your student loan repayment plan, here are the tools and resources we mentioned in this article — plus a few extras:

• American Bar Association’s List of Law Schools Offering LRAPs
• State Agencies that Administer the John R. Justice Program
• Student Loan Repayment Plan Calculator
• 4 Effective Ways to Build Your Credit Without Going In the Hole
• How to Compare LRAPs (Harvard Law School)
• Equal Justice Works Student Debt Relief Section — Includes eBook, Webinars, and more

Topics: debt

The post The Ultimate Guide to Eliminating Your Law School Debt appeared first on The Dough Roller.

from The Dough Roller http://ift.tt/2sAGT3E