Where’s the House from ‘Home Alone 3’?

Year in and year out, we know the holidays are almost upon us when TV networks start airing Home Alone, the iconic family movie that has by now become synonymous with Christmas cheer. And while the first two Home Alone movies starring Macaulay Culkin are the clear fan favorites, the third one (written and produced by the same John Hughes that gave us the first two festive flicks) was deemed the least successful in the series — by far — and failed to make a lasting impression.

And that’s not because of the plot, cast, or setting, but rather the result of the ultra-high expectations created by the first two Home Alone movies, and the fondness audiences had for Macaulay Culkin (which refused to return for a role in the third one, despite popular demand). In fact, the plot of the third Home Alone was quite an elaborate — and downright frightening — one, seeing Alex Pruitt, an 8-year-old boy living in Chicago, fending off international spies who were seeking a top-secret computer chip that was hidden in his toy car.

The poster for Home Alone 3, featuring the house in the background.
The poster for Home Alone 3, featuring the house in the background. Image credit: IMDB

Unlike a normal cat burglar situation — the first two movies featured petty thieves just trying to score a hit during the holidays, eyeing million-dollar-homes left unattended while the owners were celebrating elsewhere — Home Alone 3 is actually a matter of national security. With four thieves (said to be working for a North Korean terrorist organization) looking to retrieve the toy car/computer chip gifted to Alex by his unknowing neighbor, Mrs. Hess, the movie’s plot tackles a far more dangerous situation that the first two, despite the light way in which it is presented.

But there are two major things that all the Home Alone movies have in common: a clever, brave 8-year-old that will stop at nothing to protect himself and a beautiful Chicago-area home that acts as the ‘battleground’ of sorts where the bad guys get what’s coming to them. And since we’ve already covered the house in the first Home Alone movies, we thought I’d be the perfect time to do some scouting and find the one in the third movie too, especially since it’s no less beautiful.

The real-life house from Home Alone 3

While the movie’s storyline places it in Chicago, the house used in the third Home Alone is located in Evanston — a city 12 miles north of Downtown Chicago. According to ItsFilmedThere.com, the exact address is 3026 Normandy Place, Evanston, and a quick Google Maps search confirms that, showing us the exact same Pruitt family house we see in the movie.

house in home alone 3 in real life
House in Home Alone 3 – Google Maps

According to real estate website Zillow.com, the Pruitt family home is worth a little over $1,000,000, with neighboring properties all selling for about the same amount — though admittedly, none of the other houses that line the street had a high profile movie credit in their property history. Nor did they have Hollywood A-listers on their grounds (just in case you forgot, the most famous cast member in Home Alone 3 was none other than Avengers star Scarlett Johansson, who played Alex Pruitt’s sister in the 1997 movie).

scarlett johansson as the sister in home alone 3
Screen grab from Home Alone 3, featuring a young Scarlett Johansson as the older sister.

Just in case you were wondering, the house where Alex Pruitt’s neighbor — Mrs. Hess — supposedly lived is actually located next door, at 3025 Normandy Place.

More famous TV homes

Richie Rich’s House is Actually the Biltmore Estate, America’s Largest Home
The ‘Fresh Prince of Bel-Air’ House Isn’t Even in Bel-Air
The Real-Life Homes from Modern Family — and Where to Find Them
The Simpsons House Gets a Modern Day Makeover

The post Where’s the House from ‘Home Alone 3’? appeared first on Fancy Pants Homes.

Source: fancypantshomes.com

Trophy Apartment Once Owned by Composer Leonard Bernstein Asks $29.5 Million

An Upper East Side apartment that was once home to one of the most significant American cultural personalities of the 20th century has recently hit the market.

The Art Deco masterpiece at 895 Park Avenue was previously owned by famed composer and cultural icon Leonard Bernstein, whom music critics refer to as “one of the most prodigiously talented and successful musicians in American history”. In fact, this very property is where Bernstein — also a lifelong humanitarian, civil rights advocate, and peace activist — hosted an infamous “radical chic” party with and in support of the Black Panther Party back in 1970.

But its famous past owner is not the building’s only historical trait; built in 1929, it is designed in the classic Art Deco style, evoking New York City’s golden age glamour and sophistication. That, paired with its carefully preserved original architectural details (original wood-burning fireplaces and wide-plank wood floors) and panoramic Manhattan views make this residence a true gem.

perfect manhattan views from luxury apartment
Image credit: Warburg Realty

Clocking in at approximately 6,300 square feet, with an extra 700 square feet of private outdoor space, the 895 Park Avenue unit spans over two floors of the 21-story Upper East Side building. The entrance is through a private elevator landing which opens into a 34-foot grand gallery, further leading into the residence’s elegant formal living room, library, and dining room.

With 6 bedrooms and 6.5 bathrooms, the trophy apartment also comes with an enclosed solarium that’s bathed in sunlight and that, just like the rest of the rooms and outdoor spaces, opens up to picture-perfect views of the city.

beautiful solarium in Manhattan apartment
Image credit: Warburg Realty
Image credit: Warburg Realty
Image credit: Warburg Realty

A grand staircase leads to the lower level, which houses the 6 bedrooms, as well as a home office and laundry room. All but one of the bedrooms enjoys their own en-suite bathroom as well as significant storage space in the form of walk-in closets or dressing rooms.

Image credit: Warburg Realty

The building itself adds an extra note of sophistication and convenience; the full-service white glove co-op has a long list of amenities, including multiple doormen, an elevator attendant, health club, squash court, basketball court, and private storage units. Though location itself may be its biggest asset: 895 Park Avenue is located right in the heart of the Upper East Side, on the southeast corner of 79th street and Park Avenue, providing direct access to world-class dining and shopping.

Priced at $29.5 million, the elegant unit is listed with Bonnie Chajet, Allison Chiaramonte, and Tania Isacoff Friedland of Warburg Realty.

More luxury apartments

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These 5 Unique Listings Will Remind You of Everything that Makes NYC Real Estate Special
Former Home and Office of Marilyn Monroe’s Psychiatrist Listed for Sale in Manhattan

The post Trophy Apartment Once Owned by Composer Leonard Bernstein Asks $29.5 Million appeared first on Fancy Pants Homes.

Source: fancypantshomes.com

Hearing Colors? Here’s What Colors to Choose in Your Home Based on Your Taste in Music

‘Hearing colors’ — I bet you’re all familiar with this expression already, but did you know that it’s actually a thing? It’s a rare neurological condition called chromesthesia, which affects roughly 1 in 3,000 people.

For people with chromesthesia, listening to a certain genre or musical piece can automatically trigger different color visualizations associated with the sound. 

It’s obviously a rare condition, but for musicians, it can be an incredibly useful tool. Duke Ellington, Aphex Twin and Pharrell Williams are among those with chromesthesia. Pharrell actually stated: ‘I know when something is in key because it either matches the same color or it doesn’t.’

Our friends at Home Advisor had their interest piqued, and they decided to put this rare gift to good use. They enlisted the help of two people with chromesthesia and had them listen to various Billboard chart songs from 10 different musical genres. They did this to see what colors each musical genre evoked, and whenever the two participants had matching colors, they were added to that genre’s color palette. 

Consequently, Home Advisor came up with 10 different living room color palettes that match 10 music genres. If you’re a fan of one or more of these genres, then you can use this guide to decorate your home to match your musical taste. Check out the 10 palettes and genres below.

1. Rock

The two chromesthesia participants in the study listened to some rock songs on the Billboard chart, to see what colors popped in their minds.

The result is a rather dark and strong color palette, which includes chocolate-y and caramel-y tones, mixed with Champagne, Cream, and a bit of Smoke and Black. 

2. Country

Given that country music is all about wooden guitars, cowboy hats, ranches, saloons and chestnut horses, it’s no wonder that the colors evoked by this genre match that imagery.

The participants envisioned a living room featuring browny, earthy hues like Redwood, Tortilla, Laguna and Cream. 

3. Pop

Pop music is usually a pretty accessible genre, so it’s only natural that this pop living room features a mix of prime colors, pastels, as well as metallic hues – something for everyone, basically. The pop palette includes Navy, Jade, Black, Abalone, as well as Jade, White and metallic Gold. 

Keep reading: Everything We Know about Trevor Noah’s Apartment — the New Set of the Daily Show

4. R&B

The R&B room looks like it was designed by a qualified interior designer, that’s how harmonius the selected hues are. The resulting color palette exudes coolness and chill-vibe-ness, featuring tones and hues like Charcoal, Champagne, Prussian, White, Pearl River, and a touch of Lime.

5. Rap

The rap room is definitely the showstopper in this list, incorporating various bold and bright colors (which is actually eerily similar to rapper Wiz Khalifa’s home in Los Angeles).

This eclectic result shouldn’t really come as a surprise, given that this musical genre also includes a mix of beats, samples and influences. This fun living room features bright hues like Blue, Jade, Lime, Fire, Red, Peach and Hot Pink. 

6. Latin

The Latin room, unsurprisingly, bears resemblance to the R&B room, as well as to the rap room. This mash-up of pop, R&B, rap, salsa, tango, and so on, has resulted in a bright and vibrant color palette that includes Yellow, Cream, White and Pearl River. 

7. J-Pop

This bubblegum-like color palette evokes the ‘cute and sexy’ image of this pop music trend originating in Japan. The palette features colors that normally wouldn’t go together, but somehow they work, and the result is a colorful and young living room painted in hues like Red, Orange, Thistle, Silver and Amber.

8. EDM

The EDM palette is in a league of its own, for sure. The palette is incredibly vibrant and energetic, much like the musical genre it represents. You might say there’s even a nightclub vibe to this living room, which features colors like Navy, Blue, Azure, Gold, metallic Mint, and Electric Purple.

SEE ALSO: 10 of the Most Stylish Minimalist Wall Clocks You Can Buy on Amazon

9. Lo-Fi Hip-Hop Beats

This lo-fi color palette works really well for a living room, and it’s really on trend with the pastel hues that interior designers are talking up this year. This easy listening music genre evokes gentle shades like Tea, Cream, Baby Blue, Laurel and Air Force. 

10. Heavy Metal

This living room is the darkest, and most aggressive of all the rooms on our list. That’s right in tune with the music genre it represents, as heavy metal is loud, bold, and focused a lot on imagery — heaven and hell, hellfire, depths of darkness, leathers and metals, and so on. Consequently, this living room features dark, solid hues like Black, Charcoal, Denim, as well as blood-like hues such as Maroon and Mahogany. 

There are obviously a lot more musical genres and sub-genres out there, so naturally this list doesn’t cover every possible music taste. But, if you’re a fan of some of these genres and are looking to incorporate your music taste into your home decor, then this study by Home Advisor might serve as inspiration. Happy listening (and decorating)!

More stories

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Here’s Why You Should Not Buy a House in a Neighborhood with an HOA
How Much Do Modern Prefab Homes Cost?

The post Hearing Colors? Here’s What Colors to Choose in Your Home Based on Your Taste in Music appeared first on Fancy Pants Homes.

Source: fancypantshomes.com

Buying a Home for the First Time? Avoid These Mistakes

Buying a home, especially if you’re a first-time home buyer, can be daunting and nerve racking.

But it does not have to be. LendingTree’s online loan marketplace has got you covered – at least when it comes to getting a mortgage.

A 2016 study by the Office of Research of the Bureau of Consumer Financial Protection reveals that prospective buyers who shop for a mortgage when buying a home for the first time report “increases consumers’ knowledge of the mortgage market and increases consumers’ self confidence in their ability to deal with mortgage related issues.”

The importance of shopping for a mortgage as a first-time home buyer is that it saves you money in the long term and “reduces the cost of consumers’ mortgages,” the study found.

The home-buying process can be intimidating. So being aware of these mistakes when buying a home for the first time can help you save thousands and thousands of dollars in the long term.

Tips for Buying a Home
To guide you through a major financial decision like the purchase of a home, you may want to talk to a financial advisor.

Luckily, SmartAsset’s advisor matching tool can help you find a suitable financial advisor in your area to work with.

Get started now.

10 Mistakes to avoid when buying a home for the first time.

1. Not knowing your credit score.

We are all aware that the higher your credit score, the better.
Yet, despite this fact, many people fail to check their credit score before
buying their first home.

And a low credit score can lead to a high interest mortgage loan, or even worse, a loan rejection. Given the fact that your credit score is the number 1 item mortgage lender looks at, it pays off to know where you stand.

Credit Sesame will let you know what your credit score is for free and monitor it for you. It will also offer tips on how to raise your credit score and reduce your debt.

Just sign up for a free account – it only takes 90 seconds.

2. Not shopping and comparing mortgage rates.

Mortgage rates and fees vary across lenders. In other words, two applicants with the identical credentials can get different mortgage rates. Despite this, however, many fist-time homebuyers fail to shop and compare mortgage rates before buying their first home.

The study reveals that 30 percent first time homebuyers do not
compare and shop for their mortgages, and more than 75 percent reported
applying for a mortgage with only one mortgage lender.

The study further reveals that “failing to comparison shop for a
mortgage costs the average homebuyer approximately $300 per year and many thousands
of dollars over the life of the loan.”

An easy way to shop and compare for a mortgage is with LendingTree. Their simple and straightforward platform can help you find and apply for the right loan all in one place.

3. Sticking with the first mortgage lender you meet.

While it’s tempting to work with your local mortgage lender who’s
only a few blocks away from your home, this decision requires more time. Take
time to meet with at least three mortgage lenders before picking the best match
for you.

Fortunately, LendingTree free online platform, allows you to quickly browse several mortgage rates with several mortgage lenders without visiting a dozen bank branches.

4. Not knowing what loans are available to you.

If you’re buying a home for the first time, one thing you need to address is what types of loans are available to me. Sometimes the answer to this can be quite simple: conventional loan. This is because most people know about this type of loan.

But conventional loan requires at least 20% down payment. And the credit score needs to be in the 700. *Note: You can put less than 20% down payment, but you will have to pay for a private insurance mortgage (PMI).

Sometimes it’s not feasible to come up with that type of money as a first time home buyer. So knowing if other loans are available to you is very important.

FHA loan

One type of loan that is popular among first time home buyers is FHA loan. It is so popular because it’s easier to get qualified for it. And the down payment is very little comparing to that of a conventional loan.

For example, FHA loans require a 580 credit score and a down payment as low as 3.5% of the home purchase price. This makes it easier to qualify for a home loan when you’re on a low income.

VA loans

VA loans are another great option for first-time homebuyers. However, you have to be a veteran. Unlike a FHA or a conventional loan, VA loans require no down payment and no mortgage insurance. This can save you thousands of dollars per year.

So if you’re in market for a loan to buy your first home, you need to educate yourself about the different available loans.


Not All Mortgage Lenders Are Created Equally

When it comes to getting a mortgage, rates and fees vary. LendingTree allows you to view and compare multiple mortgage rates from multiple mortgage lenders all in one place and at the same time, so you can choose the best rates for your needs. LendingTree makes getting a loan faster, simpler, and better. Get started today >>>


5. Not getting pre-approved for a mortgage

One of the first time home buying mistakes you should avoid making is not getting a pre-approval letter. You can simply contact a lender and request it. The mortgage lender will pull your credit report to make sure you have the minimum credit score requirement.

They will also need your bank statements, W2s, recent income tax returns, pay-stubs to verify your employment and ability to afford the loan.

Why this is important? A pre-approval letter means that you’re a serious buyer. It signals that you’re able to commit to the house once an offer has been accepted. It also makes you more desirable than the other potential buyers.

Get a Pre-Approval for a Mortgage Today

6. Not knowing how much you can afford

Buying a home is probably going to be the biggest expenses you’ve ever made. But buying a house you cannot afford can lead to financial trouble along the road. Paying an expensive mortgage for 15 to 30 years on a low income can be hard.

So it pays to know how much house you can afford before you start searching for your home.

The best way to know how much house you can afford is to look at your budget. Take into account your expenses and income and other costs associated with owning a home.

7. Not knowing other upfront costs

If you think that the only cost to buying a home is a down payment, then think again. There are several upfront costs associated with owning a house. These upfront costs include private mortgage insurance, inspection costs, loan application fees, repair costs, moving costs, appraisal costs, earnest money, home association dues.

As a first time home buyer, this may come to you as a surprise. So, be ready to have enough money to cover these costs.

8. Failure to inspect your home.

Although some banks would prefer you inspect your home before they offer you a loan, it’s not mandatory. But that does not mean you shouldn’t do it. Not inspecting your home can cost you a lot. Inspection discovers defects that you may not know about. Inspection costs can be anywhere from $300 to $700.

Don’t be stingy with these costs. It’s better to find out about any hidden defects , like a faulty wiring and plumbing, than finding about them later. To avoid regretting your decision or having to spend thousand of dollars on repairs down the road, consider an inspector.

9. Failure to check out the neighborhood.

Just because the street or the neighborhood your potential house is located is quiet or is not run down doesn’t mean crime is not a problem. So before buying your home, you should check out the neighborhood. Take a trip at night to get a feeling of the environment. Talk to residents. Most importantly, check with the local police station – they can be a great resource when it comes to crime rates in a particular location. This is simply one of the first time home buying tips you shouldn’t ignore.

10. Searching for a mortgage on your own.

There are several mortgage lenders available to you. But choosing one that is right for you can be tough.

The LendingTree online platform makes it easy and simple for you to find the right home loan for you. Now you can get matched up to several mortgage lenders all in one place and at the same time. And the whole process just takes a few minutes.

Follow these steps to get matched with the right mortgage:

  1. Go to www.lendingtree.com;
  2. Answer a few questions regarding the type pf loan yo need and you’ll use it. Within a few seconds, you’ll see multiple, competing offers from several lenders;
  3. You then shop and compare offers side by side.

Ready to get started? Find your best loan!

The bottom line is when it comes to buying a home for the first time, you should not take any shortcut. Doing so can cost a lot of money down the road. So before buying your first home, make sure you get the right mortgage loan, inspect the home, and have enough money to cover some of the upfront and ongoing costs associated with owning a house.

Speak with the Right Financial Advisor

Still looking for first time home buying tips? You can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

The post Buying a Home for the First Time? Avoid These Mistakes appeared first on GrowthRapidly.

Source: growthrapidly.com

How to Decide If Pet Insurance Is Worth the Cost

Woman deciding if pet insurance is worth the cost

Last fall, our greyhound Tivo refused his breakfast on a Friday morning. He didn’t eat or drink water all day, and we were worried. That night, we took him to the 24-hour emergency veterinarian and Tivo was diagnosed with a bacterial stomach bug and dehydration. We went home with antibiotics, a saline IV, and a $200 vet bill.

Thankfully, we could afford this bill for unexpected emergency care for Tivo. But if he were diagnosed with a chronic condition or needed a very costly intervention, we might find ourselves facing some heartbreaking financial decisions.

Pet insurance is often touted as a solution to these worries. With pet insurance covering some costs of veterinary care, you’re never forced to choose between your beloved pet and your finances. However, does this kind of coverage make sense for most pet-owners?

Here’s what you need to know about pet insurance so you can keep your fur babies bright-eyed and bushy-tailed for years to come.

Premium costs

As with human health insurance, pet insurance charges you a monthly premium for your pet’s coverage. According to Value Penguin, the average monthly cost for canine pet insurance is $47.20, and the average for feline insurance is $29.54 for accident and illness coverage.

Of course, this doesn’t tell the whole story of what to expect from premium costs. Many pet insurers increase premiums with the age of your pet. Which means the $47 per month you pay to keep your 4-year-old pup healthy could rise with his/her age, making the premiums harder to keep up with just as they’re more likely to need age-related medical intervention. In addition, different breeds can have different premium prices, since there are some hereditary conditions that various breeds may be more prone to.

However, even with these potential issues, there are some methods to keep premiums manageable. For instance, some tried and true insurance reduction strategies work just as well for your pet’s health insurance as they do for your own. These include increasing your deductible, reducing the percentage that the insurance reimburses, or limiting the annual payout rather than choosing unlimited coverage.

These strategies can keep your premiums affordable while still helping with big veterinary bills. But you need to be prepared to pay anything above and beyond the coverage limits you set up. (See also: 8 Ways to Lower Your Vet Bills) 

Coverage

It’s also important to note that pet insurance does not necessarily cover every kind of health cost for your pets. To start, unlike (some) human health insurance, most pet insurance will not cover preventive care and annual exams. So you will need to plan for these costs on top of your premiums.

Pet insurance policies generally come in two varieties: accident and illness policies, and accident-only policies. In general, accident-only policies do not raise their premiums as your pet ages, making this kind of insurance more affordable long-term. However, accident-only policies tend to be cheaper because your pet is less likely to get injured than fall ill. If you decide to invest in pet insurance, getting both accident and illness protection will likely offer you more protection.

That said, each insurer gets to decide which illnesses, conditions, and services it covers, and not all ailments are covered. Many insurers also do not cover the diagnostic exam for a particular illness, even if the treatments are covered. Make sure you pay attention to the details of what your potential insurer will cover before signing up for coverage.

As with many types of human health insurance, most pet insurance policies exclude preexisting conditions. Unfortunately, some insurers consider health problems to be "preexisting" if they crop up within a year of the purchase of your policy. Insuring your pet when they’re young is the best way to avert the preexisting condition coverage gap.

Finally, pet insurance coverage is usually handled via reimbursement. That means you’ll be on the hook to pay the vet bill at the time of service, and you’ll submit your receipts to your insurer to receive reimbursement. (See also: 7 Things You Need to Know About Pet Insurance)

Should you buy pet insurance?

With all the caveats, coverage gaps, and reimbursement requirements, pet insurance is not necessarily a slam dunk for everyone. In fact, many consumer advocates recommend that pet owners put aside an amount equal to the annual premium into a savings account each year. This will give you the same peace of mind that you can cover any potential health care needs for your pet while also allowing you to keep the money if you never need to use it.

However, if you struggle with financial discipline, this strategy will leave you in a difficult situation if your furry friend needs an expensive procedure. Pet insurance can provide you with the protection your pet needs even if you struggle with money. 

Show your love with an emergency fund

Whether or not you decide to purchase pet insurance, remember that you’ll have to pay upfront for any veterinary procedures. With insurance, you will get reimbursed for covered care, but you will still need to have access to funds to pay for Mittens’ kidney stone removal or Rex’s arthritis care at the time of care.

This means that one of the best ways you can protect your furry friends and avoid heartbreaking financial choices is to have an emergency fund. With or without pet insurance, set some money aside for the unexpected so you can enjoy your four-legged family members for years to come. (See also: 7 Easy Ways to Build an Emergency Fund From $0)

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With pet insurance covering some costs of veterinary care, you're never forced to choose between your beloved pet and your finances. Here's what you need to know about pet insurance. | #pets #petcare #insurance


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Planning a Home Office? Check Out These Budget-Friendly Tips

Working from home has its perks. There’s the money saved from skipping the commute, and just think about all of that time you get back by avoiding crowded freeways or public transit during rush hour. As far as workplace attire goes, few employees would trade “work-from-home casual” for dress slacks.

But while working from home affords some new freedoms, it also creates new challenges. One of your biggest tasks is to create a productive, ergonomically correct workplace in your home without breaking the bank. If this sounds familiar, you’re probably asking yourself, “How can I set up a home office on a budget?”

Whether you’ve always worked from home as a freelancer or started during the pandemic, these expert tips will help you get started as you design your home office on a budget:

From finding the right location to choosing the ideal furniture, these tips will help you create your home office on a budget.

Strive for an ergonomically correct home office

Being home all day creates an unexpected obstacle: pain. Many workers find that transitioning from a well-equipped office to a makeshift setup at home leads to discomfort. That’s because many of them go from having a spacious desk, comfortable chair, and monitor and keyboard in their office building to working from a laptop in their living room.

If you suffer from neck pain or eye strain when working from home, you may be feeling the effects of poor ergonomics. Ergonomics, commonly known as the science of work, aims to optimize productivity and health in a workspace.

As a physical therapist with more than 25 years of experience, Karen Loesing, owner of The Ergonomic Expert, knows this issue all too well. Loesing’s company performs ergonomic assessments for businesses and home offices. Over the years, she has seen countless clients suffering from neck, back or other health issues due to poorly designed workspaces. But it doesn’t have to be that way, Loesing says.

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“Having an ergonomically correct workstation enhances productivity and generally overall happiness at work.”

– Karen Loesing, owner of The Ergonomic Expert

There are relatively easy ways to transform an ergonomic nightmare into a well-functioning home office on a budget—even if you’re stationed at the kitchen table, she says. And the investment is worth it.

“Having an ergonomically correct workstation enhances productivity and generally overall happiness at work,” Loesing says. “For those who are able to designate a certain space in their home where they can work without distractions—maybe even a window with a view and the flexibility to work at your own pace—it has been proven this makes for a happier employee.”

Who doesn’t want to boost their health, productivity and happiness in one fell swoop?

Find the optimal location for your at-home workspace

When setting up a home office for remote work, location should be your first decision, says design consultant Linda Varone, author of “The Smarter Home Office.” Depending on your living situation, there may be an obvious answer, such as that spare room you’ve always thought could become an office space.

If you don’t have a dedicated office, don’t despair. While you design your home office on a budget, think creatively about where it can be.

Varone once visited a client’s home to help reconfigure her workspace. The client was running a business from a table in the hallway. “At the end of each workday, she had to pack everything up and store it in the closet in the guest room,” Varone says.

But as Varone learned, guests only stayed over two weeks a year, leaving the room empty the rest of the time. It hadn’t occurred to the business owner, but turning the guest room into a home office for most of the year was the perfect solution.

If you’re setting up a home office for remote work, picking the optimal location for your workspace should be your first step.

“There are some simple, simple ways that people can rethink their home office without a big investment and make that space really work for them,” Varone says.

In addition to using a guest room, a dining or living room can also function as a home office on a budget.

Establish the ideal setup for your workstation

Once you’ve decided on the room, determine the location for your workstation, Varone says. As you plan your home office, consider placing your desk or table near a window, allowing for natural light and an occasional glimpse of nature. Don’t face directly outside; instead, aim for a line of sight that’s perpendicular to the window, Varone says. That’s because, even on an overcast day, you’d be looking into too much bright light if you’re facing the window.

“What’s happening is your eyes are adjusting back and forth between the bright sunlight that you’re facing and the darker light of your computer screen,” Varone says. “And that ends up being really fatiguing for the eye.”

If you live with others, the biggest challenge will be privacy. Try to clearly define the boundaries of your “office” if you can, such as with an area rug, she says. Then ask your roommates or family members not to enter your space while you’re working, apart from an emergency.

When you're planning a home office, try to clearly define the boundaries of your workspace if you live with others.

If you use a multipurpose space, be sure to tidy everything up at the end of the day, Varone says. Taking the 10 minutes or so to clean up your “office” will reduce clutter. Ultimately, a clutter-free space can reduce your stress and boost your productivity.

“That also has a benefit of becoming a little ritual and helping you say, ‘All right, my workday is over,’” Varone says. “‘Now I can focus on my personal life.’”

Choose your furniture wisely

Now that you’ve found the perfect location for your home office on a budget, focus on finding the perfect work surface. Maybe it’s a traditional desk. Or it could be your dining room table or kitchen counter.

If you do need to buy a desk or chair, don’t feel like you need to spend a fortune. Try looking for a used office furniture store or liquidator in your area, Varone recommends. You could even try searching online marketplaces for a gently used model.

When planning a home office and considering your work surface, what matters most is the height.

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The average desk is 29 inches high, Loesing says. This will likely accommodate someone who’s 5’8”, she acknowledges, but for everyone else? It will take some adjusting to make it fit for them.

That’s where your chair comes in. Most people don’t need a high-end office swivel chair to work comfortably. As long as you can adjust the height of your chair to fit you and your desk, you’ll have a comfortable setup.

It’s important to adjust the height of your chair to achieve a neutral position, Loesing says. If you don’t have the instructions from the manufacturer on how to adjust your model, try searching for videos online, she adds.

One more chair takeaway from Loesing?

“If you can’t spend a dime, at least get as comfortable as you can where you’re sitting, and sit all the way back in your chair,” Loesing says. “When you don’t sit so your back is against the backrest, you’re using your back muscles all day long instead of them being at rest.”

When you design your home office on a budget, make sure your chair and work surface allow you to get into a comfortable sitting position.

Adjust your furniture and equipment

As you continue planning a home office, you’ll likely find that your computer is your most important piece of equipment. But it can also lead to neck strain. Whether it’s a laptop or an external monitor, Loesing says screen placement is key. In fact, she says it’s the single most important feature to address—as well as the most commonly disregarded one.

While you plan your home office, Loesing recommends keeping the following ergonomic guidelines in mind to help avoid neck strain:

  • Align your monitor so your eyes are level with the screen. (That’s typically about 4” from the top of the monitor.)
  • Place your feet flat on the floor and your knees at about a 90-degree angle with the ground.
  • Place your arms at about a 90-degree angle from the writing surface so your shoulders are relaxed.

If you only have a laptop, and no monitor, you still have options for raising your screen to eye-level. “There are budget-friendly laptop risers on the market,” Loesing says. “If you don’t want to spend any money, you can place books or reams of paper to bring the screen up to eye level.”

When setting up a home office for remote work and thinking about your arm placement, note that Varone is a strong advocate for an external keyboard. If you’re working at a desk that has a keyboard tray built into it, that’s a great way to keep your arms at about a 90-degree angle, she says. If you don’t have a built-in tray, she says you can improvise by placing your keyboard on an inexpensive laptop table situated directly under your desk.

While the exact adjustments will vary depending on your equipment, height and budget, the focus is on acquiring a neutral position or a position where there’s no strain on anything, Loesing says.

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“With the addition of standing desks, which encourage movement, employees often find they have significantly more energy at the end of the day.”

– Karen Loesing, owner of The Ergonomic Expert

Stand if it suits you

If you’re intrigued by the idea of a standing desk, you’re not alone. Standing desk sales have soared over the last decade, buoyed by reports of the dangers of too much sitting.

“Static postures (e.g., sitting all day in front of a computer) present more fatigue than dynamic working,” Loesing says. “With the addition of standing desks, which encourage movement, employees often find they have significantly more energy at the end of the day.”

You don’t have to buy an official standing desk to reap the benefits when planning a home office. “The least expensive way would be to take a laptop and place it up high on a built-in high counter using a compact wireless keyboard and mouse,” Loesing says.

Even if you don’t have a standing desk—makeshift or otherwise—you can still incorporate movement and circulation into your workday. Set a timer to remind you to stand up and stretch every 20 minutes, Loesing suggests.

For an even better boost, combine this with a popular guideline known as the 20-20-20 rule. Every 20 minutes, give your eyes a break by looking out a window at something at least 20 feet away, and do so for at least 20 seconds.

Don’t forget the ambience and accessories

Your desk, chair and computer are the major players when you’re setting up a home office for remote work. But there are a few additional items to consider, like lighting, plants and sound.

Setting up a home office for remote work should include some thinking around ambiance, like lighting, plants and sound.

Your overhead light fixture likely isn’t enough, as it will create shadows and can be too weak by the time it reaches your workspace, Varone says. She recommends investing in a table lamp that creates a wider spread of light in your area. Pick one with a translucent shade that will softly diffuse the light and make it easier on your eyes.

As you’re planning your home office, Varone also recommends incorporating a potted plant or flower into your workspace. Not only can it help purify the air and boost your mood, a natural element can contribute to a restful atmosphere.

Working from home means working with home noises—especially if you’re in an environment with roommates, a partner or little ones. To keep the noise down, consider noise-canceling headphones for a quieter workspace and clearer meetings. Other budget-friendly options? Try placing a towel under the door to block out noise from other rooms, Loesing says. Consider curtains instead of blinds, since they’re better at blocking out sound. Even pillows or large cushions can help reduce noise, she adds.

After you’ve taken care of the essentials and if you have the space and money, think about adding a reading chair to your home office. You can use this as a space to review documents or do some deep thinking, Varone says. It can be a welcome respite from your desk while keeping you in the office area, she adds.

When planning a home office, think about adding a reading chair to your space.

One last tip? Add a personal touch, whether it’s a framed family photo or a souvenir from your travels. It’s your home office, after all. Let your personality shine.

Set up a home office for remote work that allows you to thrive

Now that you know how to create a home office on a budget, you’re ready to make a space that works well for you. Whether you’re an experienced remote worker or a newbie, you can apply these expert tips to set up an office that’s functional and keeps you motivated day in and day out.

Ready to break in your new home office? Keep that motivation going by learning how to increase your earning potential this year.

The post Planning a Home Office? Check Out These Budget-Friendly Tips appeared first on Discover Bank – Banking Topics Blog.

Source: discover.com

What Are the Consequences of Not Having Life Insurance?

Before I started writing in the personal finance space, I spent nearly 8 years working alongside my husband in a funeral home. My husband Greg worked as a mortician, and I was the Director of Family Services. I learned so much about living and dying during my years in the mortuary business, but there’s one that stuck with me — the real-life consequences of not having life insurance. 

I clearly remember speaking with dumbfounded families who couldn’t believe their husband or father (or wife or mother) never had life insurance in place. Some didn’t have enough money to cover final expenses like the funeral bill, and others confided in me they had no idea how they would pay their bills.

This saddened me greatly since I know first-hand how inexpensive life insurance can be — especially if you’re young and healthy. After all, I’m a 40-year-old woman and I currently have two term policies worth $1 million dollars that set me back a grand total of $53 per month. 

Why People Don’t Buy Life Insurance

The main reason consumers don’t buy this important coverage is simple — they get busy and forget. Most of us know we need life insurance in place during our working years, and that’s especially true for those of us with kids. But it’s easy to let life get in the way, and for the purchase of life insurance to wind up on a list of other to-dos that we never get to. 

Not only that, but people don’t want to think about dying. I specifically remember a family I met in the funeral home who just lost a husband and father who wasn’t even 40-years-old. In tears, his wife explained that he had told her he was going to buy life insurance dozens of times, but that he hated even dealing with death. He had a $20,000 life insurance policy through work, and he knew he needed more, but he didn’t want to face his mortality in his free time. Unfortunately, his family paid dearly for that decision.

A final reason people don’t buy life insurance is cost. The thing is, term coverage is so cheap that almost anyone can afford it. People just think it’s expensive, so they shy away from taking the next steps. Life insurance is also just another bill to pay, and many can barely keep up with the bills they have.

That’s probably why so few people have enough coverage. Here are some statistics that should scare you:

  • Only around 60 percent of Americans had life insurance in 2018, according to LIMRA’s 2018 Insurance Barometer Study
  • Among those with life insurance, 1 in 5 people know they do not have enough
  • Consumers surveyed tend to overprice life insurance; millennials in particular believe that life insurance costs 5x the actual amount for a policy

Consequences of Not Having Life Insurance

Based on those statistics, not enough people have life insurance and those who do may not have enough coverage to last. But, what can this mean for your family? Here are the main downsides you’ll face when you don’t buy life insurance now, before it’s too late:

Your Income Disappears

Income replacement is one of the most compelling reasons to buy life insurance, and that’s especially true if you have kids. You don’t want your income to suddenly disappear, leaving your family in the lurch. However, this is exactly what happens when you die without life insurance. All of a sudden, your family is left trying to cover regular bills and living expenses without your income.

That’s why many experts suggest buying at least 10x your income in term life insurance coverage. This way, your family will have some cash they can use to replace your income while they mourn and get back on their feet.

Your Debts Don’t 

Your income may disappear when you die, but your debts certainly don’t. With that in mind, you should buy life insurance coverage that will cover major debts you have like your home mortgage, your family car loans, and any credit card debt you have.

If you don’t buy life insurance and you die before your time, your family will be left trying to cover all your debts without your help. It’s shameful to leave them in this position — especially when term life insurance coverage can easily be purchased for the price of a dinner out per month. 

Your Family Could Need a GoFundMe to Pay for Your Funeral

During my final years in the funeral industry, GoFundMe came about. I cannot tell you how many families came in to plan their services without any money only to find that, no, the funeral home wouldn’t let them make payments. After that, they’d set up a GoFundMe and solicit donations from family and friends to pay for a service. 

This always made me sad, mostly because families shouldn’t have to struggle or fundraise to pay for final expenses. I always thought that, if only their loved one had a small term life insurance policy, they would have been able to grieve without the added stress.

You Will Not Leave a Legacy

Finally, life insurance offers you the chance to leave a legacy behind. This could mean leaving enough money to pay for college tuition for your children, or having a broad enough policy so your spouse or partner never needs to work again, paving the way for them to stay home and nurture your kids. When you have enough life insurance so your family is taken care of, they will never forget it.

The opposite is also true. Many whose loved ones die without life insurance wind up angry and resentful at their partner for leaving them in such a position. I know because I saw it with my own eyes, and I felt their exasperation as they tried to figure out what to do.

Purchase Life Insurance the Painless Way

Here’s the thing: Buying life insurance doesn’t have to be complicated or stressful. I know because I have purchased $1 million in life insurance coverage, and because the second policy I bought online didn’t even require a medical exam. 

The purchase of life insurance can be painless and fast if you plan to buy basic term coverage, and it can also be significantly cheaper than you think it would be. These tips can help you get the coverage you need without any added hassle or stress.

1. Shop Around and Compare Quotes Online

First, you should absolutely shop around and compare life insurance quotes online, mostly because this is such an easy task. A range of online life insurance providers including Haven Life and Bestow make it easy to price out a policy in a matter of minutes online. 

To get a quote from Bestow or Haven Life, for example, all you need to supply is your birth date, your height, your weight, and your zip code. You don’t even need to enter your contact information or your email to get a free quote with either company.

You can also check out our guide to the Best Life Insurance Companies of 2021, which lets you read reviews of all the top providers and compare rates from multiple providers in one place. 

Whatever you do, don’t go with the first life insurance company you come across. Make sure you compare policies in terms of their monthly cost, the amount of coverage, and how long it lasts. Then, and only then, can you know you’re getting the best deal.

2. Play Around with Coverage Amounts

You also need to have a general idea of how much coverage you want and need. We mentioned that most experts suggest buying at least 10x your income in life insurance coverage, but it may be prudent to buy more term coverage than you need. After all, there’s no such thing as having too much life insurance in place, but you can definitely not have enough.

You’ll also want to decide how long you want your policy to last. Most term life insurance policies last for 10, 15, 20, or 30 years, letting you tailor your policy to your needs.

If you’re young and you have young kids, you may want a 30-year policy that will provide income replacement for your entire working life. If you’re in your 40’s and you plan to retire at 55, on the other hand, you may feel comfortable with a policy that lasts for 15 or 20 years. There is no “right” or “wrong” answer, but these are factors you should consider.

3. Look for Providers that Don’t Require a Medical Exam

According to LIMRA’s 2018 Insurance Barometer Study, half of all consumers say they are “more likely to purchase life insurance if priced without a physical examination.” And, can you blame them? Medical exams require a blood draw, and you have to set aside time in your schedule for them to boot. It’s easy to procrastinate and never buy a policy when a medical exam is required.

Fortunately, many life insurance providers don’t require a medical exam. Instead, they rely on algorithms to determine who is the greatest risk, and who can purchase coverage that begins right away. The second policy I purchased for myself came from Haven Life, and it did not require a medical exam. 

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I was in my late 30’s when I purchased this policy for $750,000, and I only pay around $27 per month. I applied for this policy online and had coverage the next day, and all without seeing a nurse or facing the dreaded needle prick.

The Bottom Line

Since you took the time to read this piece, you are probably on the verge of buying life insurance. You already know you need it, so don’t let another day go buy without coverage. You may not think something could happen to you in the next week or the next few months, but life doesn’t always go as planned. If you’re unlucky, your untimely death may be no exception.

Take the time to get a quote for life insurance, and you’ll never have to wonder what your family would do if you died. Life insurance lets you continue providing for them even after you’ve left this Earth, and there’s nothing more thoughtful and loving than that. 

The post What Are the Consequences of Not Having Life Insurance? appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

8 Essential Rules for Surviving Financial Hardship

At some point, most people experience an unexpected crisis that shakes their financial world. It could be losing a job, receiving a huge medical bill, or having a car break down at the worst possible time. But surviving a pandemic is a situation you probably never thought you would face.

No matter what challenge you’re facing, you’re not the first.

Along with the public health toll, the COVID crisis has put millions of people out of work. For those struggling financially, here are eight critical rules to help you manage money wisely, stretch your resources, and bounce back from this unprecedented health and economic disaster.

8 rules for managing a financial hardship

Here are the details about each rule to manage a financial setback during the coronavirus crisis.

Rule #1: Accept your situation and use your resources to seek help

The key to successfully navigating a financial setback is to be realistic. If you’re in denial and don’t face money troubles head-on, you can quickly compound the damage.

Instead of focusing on the problem, getting angry, or letting stress overwhelm you, channel your emotions into finding solutions. Start talking about your challenges with people and professionals you trust, such as a money-savvy family member, financial advisor, legitimate credit counselor, or an attorney.

Instead of focusing on the problem, getting angry, or letting stress overwhelm you, channel your emotions into finding solutions.

The following financial associations have certified volunteers who can offer free help and advice:

  • National Association of Personal Financial Advisors
  • The Financial Planning Association
  • Association for Financial Counseling & Planning Education

Rule #2: Get a bird’s eye view of your finances

To fully understand your situation, create a list of what you own and owe; this is called a net worth statement. Compiling your data in one place helps you evaluate your financial resources, make decisions more efficiently, and have essential information at your fingertips if creditors or advisors ask for it.

First, list your assets: 

  • Cash
  • Investments
  • Retirement accounts
  • Real estate
  • Vehicles 

Then list your liabilities:

  • Mortgage
  • Car loans
  • Student loans
  • Credit card debt

Include the estimated values of your assets, the balances on your debts, and the interest rates you pay for each liability. You could jot down this information on paper, enter it in a computer spreadsheet, or create a report using money management software.

When you subtract your total liabilities from your total assets, you’ve calculated your net worth, which is an indicator of your financial health. It’s not uncommon to have a low or negative net worth when you’re in financial trouble.

RELATED: 10 Things Student Loan Borrowers Should Know About Coronavirus Relief  

Rule #3: Understand your cash flow

An essential part of bouncing back from a financial crisis is keeping an eye on your monthly income and expenses. Create a cash flow statement that lists your expected income and typical expenses, such as rent, utilities, food, prescriptions, transportation, and insurance. Again, you can create this report manually or by using budgeting features in a financial program.

Understanding where your money goes is the only way to prioritize expenses and cut all non-essential spending.

Understanding where your money goes is the only way to prioritize expenses and cut all non-essential spending. Making temporary sacrifices will help you recover as quickly as possible with less long-term damage to your finances.

Rule #4: Shop your essential expenses

As you review your spending, it’s an excellent time to comparison-shop your essential expenses. Evaluate your highest costs first, such as housing, vehicles, and insurance, since they offer the most significant potential savings.

For instance, you may be able to move into a less expensive home, purchase or lease a cheaper vehicle, and shop your auto insurance to find better deals. Ask your utility provider about assistance programs that offer energy-saving improvements at no charge.

Rule #5: Communicate with your creditors

If you haven’t been in contact with your creditors, start a dialog with each one immediately. You’ll come out ahead and get favorable treatment from creditors if you are proactive and honest about your financial troubles. Ask them for solutions, such as deferring payments for several months, setting up a reduced payment plan, or refinancing a loan to reduce your financial burden.

You’ll come out ahead and get favorable treatment from creditors if you are proactive and honest about your financial troubles.

Creditors are likely to ask about details regarding your financial situation, so have your net worth and cash flow statements on hand when you speak to them. Be ready to complete any required assistance applications quickly.

Rule #6: Prioritize your debts carefully

Based on guidance from creditors and finance professionals, prioritize your bills and debts carefully. Your goal should be to conserve as much cash as possible without skipping essential payments. Always pay for necessities first: food, prescription drugs, and auto insurance.

Debts related to child support and legal judgments have severe consequences and should be prioritized

Use your net worth statement to rank your liabilities from highest to lowest priority. For instance, debts related to child support and legal judgments have severe consequences and should be prioritized. Keeping up with an auto loan is a high priority if you rely on your vehicle for transportation. Federal student loans are in automatic forbearance through September 30, and the relief may get extended through 2020.

Your unsecured debts—medical bills, credit cards, and private student loans—are lower priorities. Never pay these debts ahead of rent, a mortgage, or utilities when you have a cash shortage.

Rule #7: Don’t let collectors force you to make bad decisions

Prioritizing your debts means some may be paid late or not at all. If a debt collector contacts you about a low-priority debt, such as a medical bill or credit card, don’t allow them to persuade you to pay it before your highest priority bills.

Collectors may try various aggressive tactics, such as threatening to sue you or ruin your credit. A lawsuit could take years, and a creditor is more likely to negotiate a settlement with you. Remember that a creditor or collector can’t send you to jail for civil debts.

If you are behind on bills, that fact is likely already reflected on your credit reports. By the time a collector contacts you, the damage is already done, and paying the bill won’t improve your credit in the short-term.

Rule #8: Take advantage of local and federal benefits

If your income and savings have entirely dried up, use these resources to learn more about local and federal benefits.

  • FeedingAmerica.org has a map showing local food banks
  • Supplemental Nutrition Assistance Program (SNAP) is the federal food program you may qualify for based on where you live, your income, and family size
  • MakingHomeAffordable.gov can help you find a housing counselor or see if your mortgage is backed by the federal government and qualifies for forbearance
  • Benefits.gov has a questionnaire that helps you discover the benefits you’re eligible for
  • Medicaid.gov is the federal health insurance program you may qualify for based on where you live, your income, and family size
  • Healthcare.gov is the federal health insurance marketplace where you may find plans with substantial subsidies if you earn too much to qualify for Medicaid

Financial challenges can cause you and your family to experience a flood of emotions, including anger, fear, and embarrassment. As difficult as it might be to put a financial crisis into perspective, it’s critical. No matter what challenge you’re facing, you’re not the first. There are millions of people who are dealing with COVID-related financial hardships.

Face the fact that your recovery could take a while. Do everything in your power to manage your budget wisely by getting organized, seeking ways to earn more, and spending less. Don’t be afraid to ask for help from creditors, seek free advice from professionals, and take advantage of every local and federal benefit possible.

Source: quickanddirtytips.com