Guest Post

Wallet Wisdom – 5 Tips For Saving Money on Your First Home

January 18, 2018 by Painter Mommy Leave a Comment

Buying your own home is one of the biggest financial decisions you’ll make in your life. It’s complicated and even a little scary, but there are a few simple things you can do to make it easier and save yourself money at the time you’re making your purchase and over the life of your mortgage.

Continue reading for five great money saving tips you can employ when buying your first home.

Plan ahead

Whether you are dreaming of a ranch in the country or a project home in Sydney, one of the best things you can do to prepare for home ownership is to reduce your debt. Not only does it make room for the mortgage payment in your budget, you’ll get a better interest rate that can save thousands over time.

What Can You Afford

Don’t base this off of the highest loan amount that you can get approved for because going for the maximum can leave you in over your head later on. Instead, look at your budget and decide what you are comfortable with for a monthly payment. You can start with a home loan eligibility calculator to help you choose a price range.

Get Expert Help

Getting a professional home inspection will help you to find problem areas before you buy and save you money on repairs. Even if you are a handy person, it’s better not to assess things on your own. If the inspector finds something you can ask the seller to deduct that amount from the price or to fix it before you sign the contract, plus you’ll know exactly what you’re getting into.

The professionals helping you to find your dream home should also be willing to help you, from your realtor or your mortgage broker to your conveyancer. Ask questions and be suspicious of anyone who doesn’t seem willing to explain the process. Remember, they are working for you.

Know What Your Agreeing To

There can be costs that are separate from the mortgage, such as Homeowners Association fees. These can range from $50 to hundreds per month on top of your mortgage and taxes. Read HOA agreements thoroughly and be sure you understand what the additional cost will be. Take into consideration concessions such as stamp duty or removal costs if you plan to renovate part of the property.

There are also helpful options, such as a First Home Owners Grant, that you may qualify for to help with the cost of buying your first house. Look at the whole picture, not just your monthly house payment.

Kinds of Mortgage

All mortgages are not created equal, so do some reading and see which kind of mortgage will be best for you. It’s smart to talk with your realtor or mortgage broker, but in the end, you will be the one making the payments so it’s important to understand what you are signing up for.

Having Money Saves Money

It’s not a requirement, but if you save up a deposit of at least 20% not only will it improve the interest rate you will be offered but you can avoid having to pay for Private Mortgage Insurance. A PMI agreement protects the seller in case you default and it can add up to thousands over the life of your mortgage.

Ready To Make An Offer

Once you fall in love with a particular house chances are someone else will be interested too, so be prepared to act. By knowing how the process works, what you can pay and being ready to make an offer you will be in a position to snap up that perfect house before anyone else can.

The Question of Quality – 6 Things to Look For in a Community Care Provider

January 16, 2018 by Painter Mommy Leave a Comment

Community care is aged care that is provided to you or your aged loved ones within the comfort of their own home. It is a common alternative to residential care, and allows an individual to retain a good measure of independence and control over their own life, while receiving assistance in the areas that they need.

With that said, choosing a care provider can be tricky, especially with so many to filter through. Let’s take some of the stress away from that decision by exploring six different things to look for in a community care provider.

The Level of Support Offered

Not all community care providers offer the same level of assistance with daily living. For example, some may come to clean the home, change the sheets and do some gardening – things that can get difficult with age. Others may come and bring meals, or cook for you, or perform minor maintenance activities around the house.

Others yet may do all of the above. Check in with some different providers and see what level of support they offer you, and see if they can tailor a package that’s right for you or your loved one.

Cost of Community Care

This is an important factor, as you want to be able to afford the best without breaking the bank. Ask some different providers for an outline of the expected costs of community care. It may be worth sketching out a rough budget of your income and expenses and seeing what you can afford. Did you know that the government offers subsidies for community care? This can make it more affordable than you think.

Attitude of Staff

This is really important. Working with aging people requires a great deal of tolerance, patience, compassion, kindness and acceptance. The last thing you want is someone without these attributes providing care for you or your loved one.

Ask to meet with some of the care staff before you choose a community care provider, ask them some questions and try to ascertain their attitude prior to picking a provider.

Allied Health Professionals?

Check in with the providers to see if they offer Allied Health professionals in their community care packages. These are highly qualified physiotherapists, occupational therapists and other specialists that can provide a great level of assistance for those who are aging. Not every provider will have them on the books, and keep in mind that you may incur additional expenses for these individuals.

Frequency of Visits

This is another important aspect of community care. How often are they able to visit you or your loved one? Ideally you will want to work out a schedule that is right for you, and enables you or your relative to live in relative independence for as long as possible before transitioning to residential care.

Do They Offer Social Support?

You may not realise it, but social connections are incredibly important as we age. Social interaction has a range of positive physical and mental health benefits, and the sad thing is that we often do less of it the older we get.

Some aged providers offer a simple drop-in service, where a friendly staff member can come and have a cuppa and a chat. See if the providers you’re investigating offer something like this.

To Sum it Up

So, work out a budget and check how much different community care providers cost, keeping in mind government subsidies. See what the level of support and frequency of visits are, and check to see if social support is provided. Finally, see if Allied Health staff can come to you for extra specialised care and always remember to get a feeling for the attitude of the staff.

How to Turn Your Old Garage into a Brand New Bedroom

January 16, 2018 by Painter Mommy Leave a Comment

When you first bought the house that you and your family are living in right now, you might not have initially paid much attention to the number of bedrooms included in it. You may even have been thinking at the time that your children could share a bedroom, or you yourself wouldn’t mind sleeping in what used to be an office. However, unexpected situations such as guests visiting your house or a relative dropping by and planning to stay overnight can necessitate the need for you to have an additional bedroom. If you’re unable to come up with enough money to have a brand new bedroom added to your house, you might want to consider renovating your old garage instead.

Why Are You Using Your Old Garage as a Junkyard?

Your house might have come along with a garage when you first bought it, as most houses often do. But over time, you may have resorted to just using your old garage as a storage place for all kinds of junk that you have acquired throughout the years.

You might have forgotten somewhere along the way that your garage is supposed to be a place where you park and store your vehicle.
Maybe you don’t even have a vehicle at all, but you bought your house along with its garage anyway.
You’re not letting your old garage realize its fullest potential by merely relegating it to an enclosed junkyard.
A lot of space is getting wasted by dumping items that you feel aren’t that useful anymore inside your old garage and just letting them sit there and collect dust.

How Can You Turn Your Old Garage into a Brand New Bedroom?

Instead of just using your old garage as a storage bin for all things junk, you can turn it into a brand new bedroom by doing the following:

1. Declutter your old garage.

All the old items stored in your old garage have to go for you to be able to turn it into a brand new bedroom.

You can hold a garage sale just outside your house if you think that any of your neighbors or anyone who might pass by the area may find some use for your old belongings.
You can also send your old items to a pawnshop nearest you for them to appraise which ones can be pawned in exchange for some cash.
If you’re generous enough that you’re into helping other people you don’t even know at all, you can donate some of your old things to your charitable institution of choice.

2. Add some insulation to your old garage.

As you would want anyone who decides to spend a night in your garage-turned-bedroom to get comfortable with it right away, you should be sure that your garage is properly insulated.

Since the floor of your old garage is most likely to have a slightly lower elevation compared to that of your house, you would want to raise it a bit by adding a layer of insulation and pouring some concrete on it.
You should also add layers of insulation to the walls and ceilings of your old garage so that whoever wants to hole up in there¾especially during the winter months¾would be able to sleep peacefully.

3. Refurbish your old garage.

Turning your old garage into a brand new bedroom should be less about retaining any garage-like qualities it has and more about totally redesigning it so that it becomes an entirely functional bedroom.

If your old garage doesn’t have any windows, you would want to tear down parts of its walls and install large windows to give it a roomier feel.
The rolling door that you’ve previously had in your old garage could probably use a garage door replacement¾or be updated with sliding glass doors instead.

4. Add some bedroom furniture.

Any bedroom can’t be called as such without any of the furniture associated with it.

It should’ve been evident to you by now that the very first thing you should put in your old garage that you’re turning into a brand new bedroom is a bed¾particularly a double size one, so that two guests can sleep comfortably.
You can also add a dresser, a bedside table, and a handful of shelves in there to further enhance its bedroom quality.

Having a brand new bedroom added to the existing structure of your house costs a lot of money¾not to mention the chaos it would bring to you and your family’s living situation once the construction crew you’ve hired starts working on it. By turning your old garage into a brand new bedroom, you can save money, as most of the renovation work can be done on your own. All you have to do is to carefully plan and invest in features that should make your brand new bedroom a comfortable place to stay.

George Anderson – George is a specialist when it comes to lowes doors and other garage doors. Working in the industry for over 20+ years he takes pride on helping his clients fulfill their needs when it comes to garage construction. In his spare time he loves spending time with his family.

Safety First – 5 Ways to Keep Safe at Home and in the Office

January 8, 2018 by Painter Mommy Leave a Comment

Nearly everything used in a home or office operates on an electrical current. Electrical equipment carries a risk of burn or shock if used or maintained incorrectly. Shock and burn injuries occur when any part of the body touches an electrical circuit. An electrical current travels through the body causing pain, damage, and even death.

To protect your household members, guests, or coworkers from electrical injury, teach them right and ensure that your home or office is safe from potential electrical hazards.

Be Smart About Outlet Use

No matter whether you’re at home or in the office, there never seems to be enough places to plug in all the electronics we use every day. For this reason, it’s common for people to overload the outlets they have. Unfortunately, this dangerous practice can result in a fire. Rather than endangering yourself and others, consider hiring a commercial electrician in Melbourne to install the additional electrical outlets you need to ensure that all your appliances and devices can operate safely.

Learn How to Use Extension Cords and Power Strips

It’s tempting to plug two extension cords into each other to reach an outlet, or to plug one power strip into another to give yourself more options, but both these practices can have devastating consequences.

While it is completely possible to plug two extension cords into each other, you must first look at the tag on each to determine if they can handle the load set forth by the device(s) you intend to plug into them. Using cords rated less than ideal for the devices you plug into them can cause them to overheat. The same holds true for plugging multiple power strips into each other. If you are unable to determine the proper load for the cords you are using, err on the side of caution and don’t plug them into each other.

Don’t Cover Cords With Mats or Rugs

Another fire hazard is the practice of covering exposed wires and cords with rugs or mats to reduce tripping hazards. While this achieves the intended purpose in most cases, it creates another more dangerous situation. Take the time to eliminate this fire and tripping hazard by running all cords along the wall instead of through a walkway.

Unplug Electrical Devices and Equipment Before Maintenance or Repair

While this sounds like common sense, you’d be surprised by the number of people who wind up spending their day in the emergency room each year with shocks and burns resulting from failure to disconnect electrical equipment before servicing. A reliable rule of thumb here is to unplug the appliance, then double check that you have in fact done so before beginning any repair or maintenance work.

Don’t Ignore the Warning Signs

If you notice a hot cord or plug, or you hear a strange noise (a hum, or buzz) coming from a piece of electrical equipment, or it sparks or smokes when you plug or unplug it, immediately remove it from operation and don’t use it again. In some cases, you might be able to have it fixed. However, your safest bet is to replace it. It’s tempting to try to continue using a faulty piece of equipment, especially if it’s expensive to repair or replace. However, doing so could result in even more expense and heartache if the device catches fire.

Using electricity is no joke. Most of us take it for granted, but the reality is, it’s dangerous if not used correctly and respectfully. Following the five tips above will help keep you safe at home and in the office.

How To Lower Your Personal Debts Faster When Living On A Low Income

November 28, 2017 by Painter Mommy Leave a Comment

Today, consumer spending and household debt have reached levels never before seen. Even adjusted for inflation, today these figures are startling. Residents of developed nations around the world are spending more and more to support a lifestyle that, frankly, they can’t truly afford. As a result, this spending has become financed with debt in the form of credit cards, student loans, car loans, and even personal loans and home mortgages.

For many, the debt has become daunting. The bind in which they find themselves now, having realized that they need to adjust their lifestyle, they desperately want to trim or eliminate personal debts. They no longer want to shoulder these burdens. Many are undertaking this noble goal while already living on low incomes, making the challenge that much greater.

If you find yourself in this category, there are a number of steps that you can take to help reduce your debts more effectively, even while living on a low income. Below are a few suggestions.

Track your finances in detail. The first step in reducing debt is to first ensure you are well-aware of the details of your own situation. You may decide to use bookkeeping software like Quicken or QuickBooks however a simple spreadsheet or notebook will suffice. Keep track of all income and expenses, broken down into categories with as much detail as possible. Also be sure to list all debts that you have, and to make note of any monthly payments that you’re making.
Cut expenses wherever you can. Once you have compiled detail records of your finances, look for areas where you can cut back. This may mean forgoing meals or nights out – as entertainment can comprise a surprisingly large portion of monthly expenses. Depending on your situation, perhaps you can look into cheaper housing options. If you own a car but make payments, might you be able to sell the car and instead utilize public transportation until you have paid down your debts?

Use the savings to start paying down debt. It’s critical, in this step, that you pay down debts in the proper order – that being the highest-interest debts first. Credit card debts, unsecured lines of credit, and other personal loans should be addressed first. Later, you can move on to student loans, car loans, secured lines of credit or home mortgages. You’ll find those lower-interest items much easier to pay down once the higher-interest debts have been eliminated, as their relative carrying costs are much lower. It’s also critical during this step to make sure you don’t fall behind with one debt while aggressively paying down another. All minimum monthly payments need to be made before you start making extra payments toward one or more liabilities.

Immediately direct any windfall towards debt reduction. If you happen to receive an inheritance, a bonus at work, or other cash gifts including for holidays or birthdays, it can be tempting to spend this unexpected cash or otherwise treat yourself. If your goal is to reduce or eliminate debt, though, then that’s exactly how these funds should be used. These unanticipated funds probably won’t have been built into your spending budget – they certainly shouldn’t have been – so you shouldn’t be sacrificing anything to use those funds for paying down debt. These kinds of windfalls, if used properly, can help you to become debt-free much faster.

Add new revenue streams, even if they’re small. For some, this may mean getting a second job. For others, whose skills are always in demand – it can mean freelance or consulting work. Even babysitting, mowing lawns, Uber or other odd jobs can help you earn some extra cash to pay down debts.

Stop borrowing immediately. A wise man once said that, if you find yourself in a hole, the first thing to do is quit digging. Nowhere is this truer than in the area of debt reduction. It is well-nigh impossible to get out of debt if you keep adding to the total. So, whatever you do, once you’ve decided that you want to reduce your debts, first make sure that you are through building them up. Make whatever cuts are necessary to your spending, or sell whatever you must in order to insure you stop accumulating any new debt.

In personal finance, few objectives are more difficult than reducing debt. This is only made more complicated when it is attempted on a low income. Still, it is a noble goal which, for many, is the best way to set right their personal balance sheets and gain all-important peace of mind. If you find yourself in such a predicament, make sure to follow the tips above as first steps toward putting yourself on more solid financial footing.

Guest Post Author: Steven McMeechan

Steven McMeechan is a strategic marketing and communications specialist with over twenty years’ experience in senior marketing management roles across a range of industries including Information Technology and Financial Services. He works for Capstone Financial Planning and lives in Melbourne Australia.