improve your home

Spring Sprucing: Affordable Ways to Improve Your Home

Spring has a way of getting us to tidy up our living spaces. Some might be satisfied with traditional cleaning, while others use a home equity line of credit for major renovations. But if you’re on a budget and still want to make changes, here’s a list of affordable ways to improve your home.

Boost Curb Appeal

  • Add a pop of color to your front door with a bold shade or bright hue, then paint the exterior trim and shutters to match.
  • Modernize your address numbers with a different font, size and color to create personality.
  • Buy a fun new doormat or paint your old one.
  • A mowed lawn, weeded flowerbeds, trimmed trees and watered window box gardens make a world of difference.
  • Give your mailbox a makeover.
  • Add new light fixtures to your porch.
  • Build a pergola over your parking space.

Make Your Bathroom a Personal Sanctuary

  • Bring in flowers and candles to make it feel more luxurious.
  • Replace the shower curtain with a new pattern or color and switch the bathmat to match.
  • Apply a new coat of paint to refresh the area.
  • Hang quirky art on the walls.
  • Update your towel bar and get some new colorful linens.
  • Use ornate glass jars for decoration and organization.

Whip It Up in the Kitchen

  • Paint your cabinets and swap out the old hardware with something more modern.
  • Remove cabinet doors for an open shelving effect.
  • Display decorative plates on your walls.
  • If you have a fridge that doesn’t flow, you can use chalkboard paint to completely transform the look.
  • Check out local thrift stores for vintage light fixtures.
  • Purchase new, colorful small appliances and use them as decorative accessories.

While we don’t expect you to try everything on the list, it’s hopefully helped you realize that improving the look and feel of your home doesn’t have to cost a lot. However, if you want to invest in significant upgrades, you can always apply for an affordable, low-rate home equity loan from America First.

kids financial literacy

The Importance of Teaching Kids Financial Literacy

We all know reading, writing and arithmetic are three essential building blocks of an education. However, it’s also vital to teach your kids financial literacy. Children need to learn how to make informed money decisions to become self-sufficient and contribute to society. Plus, just in case you’re hesitant to talk to your kids about money, remember that financial independence will help prevent them from coming back to live with you after they’ve grown!

Promote Active Instruction

When children are old enough to say they want something, they’re ready to learn about finances. We all form money habits early in life. Don’t force kids to piece together their own conclusions based their limited views — make your instruction intentional. Take advantage of teaching moments when they arise, but don’t turn on information firehose. Financial education isn’t something you can cover in one sitting. It takes time and patience. It’s also important to be positive. Don’t push or lecture. This should be a part of the natural daily discussions you have with your children.

And try to make money real. Show your kids that your Visa® isn’t a magical card full of unlimited funds. Explain how you earn money and discuss how your paycheck is a reward for what you do. And while it’s not a bad thing to explain the finite nature of your checking account, don’t overshare financial concerns. As your kids grow, discuss the difference between needs and wants. Teach them the value of long-term saving versus immediate spending. Give them the opportunity to make financial choices.

Preparation & Planning

Prepare your children for the future by letting them help plan the family budget. Show them how to use tools like Money Manager for setting limits and tracking spending. Let them start by monitoring a discretionary expense. That way, if they make mistakes, it won’t affect your overall plan. Plus, it’s better to have them make mistakes with small amounts when they’re younger than with larger amounts when they’re older.

Opening a youth account at America First, will give your boys and girls a safe place to put their money and save up. They’ll also begin to learn about things like interest and dividends. Additionally, if your children are between the ages of 12 and 17, they can get Fundz cards, which have the convenience and security of Visa without the revolving credit line.

There are also several apps that instruct kids about financial skills. Some teach basic counting and values, whereas others allow users to virtually invest in the stock market. But remember, using an app is only effective if it’s backed up by parental discussion and action.

Practicing Makes Perfect

The grocery store is a great school for basic finances. Start by letting kids help you look for coupons, then find those items on the shelves. As they progress, you can give them your shopping list and challenge them to stay within a certain spending limit. Encourage them to compare prices and look for deals so they come in under budget.

Young kids can learn a lot by running a lemonade stand or candy store for the summer. If you’re having a yard sale, you could put them in charge of the cash box or the mobile credit card swiper. Finally, when they’re of age, encourage your children to get a job. Gainful employment is the best possible way to teach the value of a day’s work. And as they get their first paychecks and you continue your economic conversations, it may surprise you how financially responsible your child can be.

buying a car

Buying a Car the Sensible Way

It’s easy to purchase a vehicle, but buying a car the sensible way takes a little more effort. Whether you’re looking for a new or used auto, at a dealership or from an owner, here are some ideas to make your auto purchase as painless as possible.

Set a budget

Before you go shopping, figure out exactly how much you can afford. This is the most important part of the process. After all, car payments are a big financial commitment. Consider all your current monthly expenses, including your mortgage, utilities, food, childcare, entertainment, and tuition.  Be realistic and make sure you are not spending more than you can spare.

Then, apply for loan pre-qualification to see how much you can borrow and what your payments might be. This can also speed up your approval when you find something in your price range.

Do your research

After you’ve budgeted, you can start seriously looking for a vehicle. Make a list of negotiable and non-negotiable items. You may require a specific number of seats, for example, but allow some flexibility on the mileage. Look up the average price for the car’s make, model and year. You’ll be a more informed consumer and you’ll be able to negotiate with the seller when the time comes.

And don’t take the first good deal you see — shop around. Ensure you are getting the best deal possible before signing on the dotted line. Check car lots, visit dealers, and browse an online repo sale site to get the right car, truck, van or SUV for the best price.

Stay firm

Making budgetary decisions beforehand allows you to stick with your plan. Most salespeople are paid on commission, so they may try to get you to upgrade or agree to extras. Stay firm on your decided limit, but keep it to yourself. If you tell the seller your maximum amount, they may go immediately to that figure and be less willing to negotiate.

Be patient

Take your time and consider your options carefully. You might want to wait until you have enough money for a decent down payment, or until you find the vehicle you’re really after. Regardless of how, where or when you make your purchase, stick to your budget, be patient in your research and firm in your decisions. You’ll find that buying a car the sensible way is easier on your mind and your wallet.

Financial fitness

Prepare Now Because Retirement is Coming Later

Whether you’re 16 and just entering the workforce or 66 and can start collecting Social Security, retirement should always be on your mind. Unfortunately, many people don’t seriously consider it until later in life. Here are four quick questions you should ask yourself now because retirement is coming later.

When should I retire?

Just because you could start Social Security at 62, doesn’t mean you should retire then. Most people do so between the ages of 61 and 69, but if you apply for benefits before you’re 67 — if you were born after 1960 — you’ll receive a reduced amount. On the other hand, if you delay beyond your full retirement age, you’ll collect more. Circumstances could change as you approach this stage in life, but having a specific age in mind allows you to set appropriate goals.

Where am I going to live?

Believe it or not, where you choose to settle can affect your retirement plan. Cost of living varies from city to city, and you may not want a big yard or need as much space. Some people stay close to family members while others take up residence in a retirement community. Make a note of places where you’d consider living. Go on vacation there to see how you like them. Make sure to visit in both the summer and the winter to see if the seasonal extremes suit you.

How can I save enough?

Many employers offer a 401(k) plan and some will even match your contribution, allowing for more accumulation. But you don’t need to depend on your job to help you save; you can invest in an individual retirement account, or IRA. America First offers traditional and Roth IRAs, as well as financial counseling to help you maximize your earnings.

How much should I save for retirement?

While the precise amount will depend on your situation, most experts recommend saving 10 to 15% of your income, starting in your 20s. You should also assess your living expenses and the type of lifestyle you desire when you retire. You can also use our simple & free retirement calculators to get more concrete numbers regarding the level of savings you’ll need to live comfortably.