We have all been at a point in our lives where we have needed a personal loan for one reason or another.

After all, not everyone wants to be stuck in the same position throughout their entire life and a loan can help you acquire things you may not have been able to afford.

Secondary education is a great example of this. A Record $1.6 Trillion in Student Loan Debt exists in the United States because people are trying to create a better life for themselves.

If you manage your loans responsibly, it can be one of the best ways to relieve any financial burdens you might have in your life right now and set yourself up for success – if done properly.

When you get a loan from places such as bestpersonalloans.com, you can easily cover down payments, handle emergencies if you don’t have an emergency fund, or take your family on a vacation.

However, if you are new to loans and budgeting as a whole there are a few things you need to understand before you use this strategy. Most importantly, you do not want to miss a payment because this can ruin your credit score and add on unnecessary late fees which can snowball out of control.

Before you take out a personal loan, you need to understand how to manage your finances and loans to work for your benefit. Use these tips and tactics to help you make your money work for you rather than working for your money.

These tips are intended for people who might be having a tough time managing their personal loans and should help them regain control over the financial stress they might be experiencing.

Create A Budget

Before making any personal finance decisions, you must have a dedicated budget. A budget should be completed each month to ensure you are on track with your spending habits and loan payments.

This budget will help you manage your personal loans by helping you analyze precisely where the money goes.

To do this efficiently, start by dividing your expenses into a few main categories rather than specific expenses.

If you are new to this, start with broader categories, such as Food, Healthcare, Travel, and so on, instead of separately like Uber rides, public transportation, gas, etc.

Starting out with broad categories are easier to manage because they are easier to track as a whole.

Pay On Time

Many loan companies and corporations will typically have significant late fees and penalties, so ideally, you want to pay your loans on time to avoid unnecessary expenses consistently.

Once you have created the initial budget and incorporated loan payments, ensuring your payments are made on time is easier. A budget tracks your money and guarantees you have enough to fulfill your obligations at the end of each month.

A strategy to give you a financial safety net is to make a few extra payments on your loan when you have extra money. Doing this can put you a few months ahead, so if you have a financial emergency and are unable to make your monthly loan payment, additional late fees can be avoided. This buffer will help you stay ahead on your loan payments and reduce your financial stress.

Pay More Than The Minimum

If you find yourself in a position where you have a bit more cash at the end of the month than usual, instead of spending it on junk and other things you don’t need, put it towards the balance of your outstanding loans.

By paying more each month, you can be ahead of your loan terms, and you will reduce the total amount of interest you will pay over the life of the loan. By paying extra ahead of time, you are able to use debt to your advantage rather than falling behind and making the loan company rich.

In addition, by making extra payments, you will reduce the length of your overall payment plan and pay off the loan faster.

This means that you can clear your debt quickly and regain your financial independence faster.

Alongside this benefit, your credit score will also improve, and a higher credit score will allow you to secure future loans with lower interest rates. For instance, if you have a great credit score, you may be able to get a home loan with a 3% interest rate rather than a 5% interest rate.

Even a 2% difference will save you tens of thousands of dollars over the life of the loan.

Keep in mind; some loans do not allow you to pay them off early, so before you sign up for a personal loan, know the terms and if there are any penalties to paying off the loan early.

Monitor Your Credit Score

While we are on the topic of credit scores, you need to keep a close watch on your credit report and score while replaying a personal loan, because as we discussed earlier, it can play a significant role in your finances.

Having a high credit score is important for various reasons. Your score is how prospective lenders determine how reliable you are in paying your loans back on time, determining how much they will charge you in interest.

The more reliable you are to lenders, the lower your interest rates and down payments will be as a result.

A high credit score can also help you with making a big purchase.

Wrapping It Up

If you struggle with making payments on time, getting another personal loan is not a good idea. Missed payments or bad money management will end up snowballing out of control resulting in poor credit and a financial mess that may take you years to fix.

However, if you are responsible with your money and go over your budget each month, you can use personal loans to your benefit to fix your broken down vehicle and help you get back on track.

This post originally appeared on Arrest Your Debt.

Since we’re not perfect, making mistakes is a large part of our existence as humans. But the good thing is that we can learn from our blunders and improve our lives through the flops and failures we make. One of my life goals is to avoid making the same mistake twice or learning from the mistakes of others so, I don’t have to make it in the first place.

When it comes to money matters, the most common mistake we commit is taking on too much debt. Having high-interest debts, such as credit cards, payday, or title loans, can make it extremely difficult to climb out from under. However, with the right plan in place, there are ways to stop making other people rich and to keep your hard-earned money in your pocket, where it belongs.

The first step is to pay your minimum debt payments on time to avoid taking on additional late fees. If you’re drowning in debt, do everything and anything you can to avoid piling on more debt.

Mistake #1: Not Having A Strategy

Trying to pay back your debt obligations without a clear strategy will inevitably cost you more money in the long run. It’s due to the adage that states, “failing to plan is planning to fail.” You probably realize that changing your financial habits and situation is not going to be an easy feat. However, a clear plan and strategy in place can reduce your stress and give you a path and a light at the end of the tunnel.

Developing a debt repayment plan to get rid of your debts faster and reduce your negative balance should be your first step.

Creating a viable debt repayment strategy requires you to understand your financial situation and the different types of debt you have. Look back over your average monthly income and find out how much you make compared to the minimum amount you must pay for loans and debt repayment each month.

This will give you an idea of your current situation, and a starting point since your minimum debt payments are considered “needs.”

As you make a plan on which debt you want to eliminate first, refer to the debt avalanche method and the debt snowball method to determine which strategy is best for your personality.

The avalanche method focuses on paying back your high-interest loans or credit cards first while making minimum payments on other debts.

On the other hand, the snowball method is paying off your smallest loans first, which gives you more motivation to make consistent payments in the process.

Mistake #2: Failure To Understand The Underlying Causes Of The Problem

One of the underlying causes many people have is their desire to live beyond their means. This can be “looking rich” with a luxurious lifestyle while most expenses are charged on a credit card. The newest iPhone or Coach purse may be incorrectly identified as a “need.”

However, being a financially responsible adult is knowing how to live on less than you earn. If you’re living above your means, chances are you are spending money you don’t have.

Borrowing money you can’t afford to repay is another reason why many people have debt problems. Many adults only look at the monthly payments rather than the total debt owed. Many different places will give you quick and easy money, like planet-loans.com, but it’s incumbent you realize you must pay back the loan as soon as possible to avoid a debt snowball from ruining your life.

One of the first steps to get out of debt is to realize what got you there in the first place. Recognizing you have a problem will make you aware of the steps you need to change your habits, which will change your life.

Mistake #3: Taking Out New Loans For Debt Repayment

Many people struggling to pay back debt are tempted to take out other short term loans to help them get through the next month. Unfortunately, this strategy is destined to fail and usually increases debt owed and unmanageable monthly payments.

If you have many different loans, credit cards, and other financial obligations, a debt consolidation loan may help you get back on track. Debt consolidation doesn’t eliminate debt, but it can help lower your interest rate by combining your debts into one monthly payment. Another lender will pay off your debt, thereby leaving you only one lender to repay.

The catch is it may not be possible to secure a lower interest rate. The interest rate offered to you will be dependent on your credit score and your ability to repay the one debt consolidation loan. If you can’t secure a lower interest rate, it would make more sense to pay off one debt at a time, as quickly as you can.

Mistake #4: Using Credit Cards To Pay Back Debt

Using your credit cards to pay back your debts defeats the purpose of getting rid of your debts. This is because you’re just incurring more debts when you make this approach. I have seen several people move their debt around to different 0% interest credit cards like a shell game. When the 0% is about to run out, they move the debt over to another card.

This approach can keep you afloat for a while, but inevitably your debt will catch up with you, and the collectors will start calling for their money. There will be a time when you cannot secure another 0% interest card, which will result in a high-interest rate on your credit card debt.

Mistake #5: Failing To Automate Debt Repayments

To ensure you pay your debts on time and don’t forget a payment, use an automatic payment system such as bill pay to guarantee the minimum balances are paid on time. Failing to pay your loans or credit card balances on time will result in penalties and fees, causing your debt obligations to balloon even higher.

Use technology to your advantage and set up automation to save you time and guarantee on-time payments.

Takeaway

Avoid the common mistakes people often commit when attempting to pay off debt. If you’re on the right track with a plan in place, you can repay your debts faster and reduce the total amount of what you need to pay.

If you need more help creating your debt payoff plan, check out my related post: A Simple Plan To Pay Off Debt.

This post originally appeared on Arrest Your Debt.

Income can be tricky in retirement. You’re likely stuck on a fixed income from your retirement account or Social Security, which does not leave very much room for sudden expenses like a broken-down car, large purchases, or even medical expenses.

Moreover, you’ve also got to consider your lifestyle. You have to prepare for how much you need to have so you can live the lifestyle you want when you’re retired. You need to determine how much money you are currently earning and make sure that you can afford to retire with that much income.

If you have a lot of extra money, then you can continue to work and save up for your retirement. If you do not have that much money, then you can start looking for ways on how to prepare for retirement so that you can have enough money to live comfortably even when you’re not working. Henceforth, there are many decisions that you’ll have to make so you can put your investments and savings in the right avenues, such as gold in an IRA.

If you find yourself strapped for cash at some point in your retirement, consider these helpful tips; they may be enough to get you out of a bind.

1. Consider Working Part-Time.

There are a few ways you might return to the workforce. A great option for folks in retirement is to work for the gig economy – that’s companies like Lyft, Uber, Wag, or DoorDash allow you to work on your schedule. Driving for Lyft or Uber a few times a week might be just what you need to supplement those retirement checks and get yourself out of whatever financial issue you might be stuck in.

Find a hobby or a career that you’re very interested in. Depending on what you like to do, you will find many different careers that you can choose from. Moreover, this can leave you happier while working part-time, especially during your retirement, when you want to relax a little bit more. You wouldn’t want to be forced into a long and arduous job during this season in your life.

If you’ve retired from an industry that’s growing right now, there might be plenty of opportunities for mentoring or consulting available to you. Make sure you check in with your professional network and see if there are niches for part-time mentors or consultants that you could fill – oftentimes, it’s even possible to do this kind of work remotely! Freelance work is also always an option if you have the skills to market online.

Fortunately, technology is also on your side. You wouldn’t have to do difficult physical tasks as there are now so many jobs you can complete over the Internet. If you have any hobby or anything you’re good at that you can teach and pursue online, you can do it. That way, you can have some extra bucks to help you through retirement.

2. Get Paid For Your Hobbies.

It’s possible that some of your hobbies – say, woodworking, knitting, antiquing, or jewelry-making – could actually be turned into revenue streams! Think about some of the things that you spend the most time on. Are any of those things the kinds of goods or services that people might actually pay for? Try looking around on a site like Etsy to see whether there exists a market for the kinds of things you make in your free time.

3. Think About Refinancing.

If you are still paying for your home, need a few hundred dollars available each month, you could consider refinancing in the hope of a lower monthly payment. Another option, if you seriously need more available cash, is a reverse mortgage. This is basically a loan; the loan company buys your house from you by paying you in installments (or a lump sum, in some cases).

Make sure to speak with a trustworthy financial advisor before making any moves, and be sure that you read over reverse mortgage rules before committing to anything. Refinancing can be an excellent way to free up extra cash and is definitely something worth considering.

4. Consider Downsizing.

If you’re still paying for a three-bedroom house with a pool and a yard that has long since outlived its necessity, you may want to contemplate downsizing. People can easily get used to a certain standard of living, and even when times get tough, they become very reluctant to let go of some of their more fiscally irresponsible habits.

If you find yourself in retirement in a situation where the money going out exceeds the money coming in, downsizing may be your best bet. It may be hard to say goodbye to a home that you’ve lived in for a while, but your bank account will be much better off for it.

5. Don’t Be Afraid To Ask For Help.

It can sometimes simply come down to a matter of pride. Retirement is supposed to be a relaxed time of plenty, so admitting that you need assistance can sometimes mean swallowing your pride and admitting to a close friend or family member you need help.

We get it – that can be really hard to do. But if you find yourself in need of money to make ends meet and ensure that you don’t end up on the street, sometimes help from family or friends can mean the difference between being okay and not being okay. Don’t let pride get in the way!

Retirement is a financial challenge, but with the right strategies and opportunities, you will find ways to supplement your income if you’re strapped for cash. Remember to be open-minded, always make and maintain a regular budget, and seek help when you need it.

This post originally appeared on Arrest Your Debt.

My wife and I have used several meal prep services in the past, and recently we gave Hungryroot a try. The past year we switched over to a plant-based diet and found Hungryroot offered a large selection of vegan options. We have been using Hungryroot for the past two months, and this Hungryroot review will cover what we liked about Hungryroot and what we didn’t.

This definitive guide to Hungryroot is extensive and should answer all of your questions.

How Does Hungryroot Compare?

Over the past decade, my wife and I have tried a variety of meal delivery services to include:

Hello Fresh

Green Chef

Blue Apron

Freshly

eMeals

This post will cover our experience with Hungryroot and if we are going to continue using the service.

Where Is Hungryroot Located?

The Hungryroot headquarters are located in Manhattan, New York. However, its products are available to the lower 48 states. The company started in 2015 with the founder, Ben McKean, looking to positively influence his customers’ lives by giving them healthy food options.

The initial food items offered were vegan and gluten-free options, and they had only six products when they launched. The company increased its products from six to 12 and later to 24 to give shoppers more choices. Ben McKean realized that with each new product choice, the number of subscribers increased.

A Brief History Of The Company

In 2016, the company had one manufacturing facility located in Queens, NY, and struggled to meet the needs and location of its customers. At the time, they had 70 employees in 20 production lines. The company paused in 2017 to sort out manufacturing issues because Ben McKean wanted to supply the entire country.

Instead of building more manufacturing facilities, the company opted to partner with 12 manufacturing firms around the country. They also added 26 more products for a total of 50 products when they launched the second time in September 2017.

Today, the company produces many products and releases new items to customers each Thursday. You can choose from hundreds of ingredients – which is one of the strengths of the company. Products ship from the manufacturing facilities to the holding areas before they ship to the customers.

Ready To Try Hungryroot?

Click below to save $40 on your first Hungryroot order!

Save $40 on your first Hungryroot order!

Where Hungryroot Delivers

The only two states locked out are Alaska and Hawaii. In other states, most zip codes can receive meals. If you do not see delivery days for your zip code when you register, Hungryroot doesn’t ship to that zip code. However, the company is actively expanding to cover all zip codes in the continental United States.

Hungryroot Meals And Ingredients

Depending on your dietary requirements, Hungryroot brings you healthy groceries with simple recipes every week. It has a plant-based focus with limited meat options that operates partly as a grocery store and partly as a meal kit service. The service sends you a simple quiz during registration to determine what kind of foods you like and the servings that will suffice for you and your family.

From there, Hungryroot suggests a grocery list of snacks and other meals with easy-to-follow recipes on how to create a healthy meal.

Because this is not a traditional meal kit subscription service, you have the freedom to mix the ingredients as you want. The service prices are affordable, and the service gives you the convenience of not going to the grocery store every week. Hungryroot personalizes your order, and the prices will vary based on the foods you choose.

One of our favorite aspects of Hungryroot is the meals take 15 minutes or less to prepare.

The Steps To Sign Up With Hungryroot

When we first signed up, I found the process was relatively simple and self-explanatory. When you go to the website, you are immediately greeted by beautiful photos of their latest meals.

Step 1 – The Sign-Up Process

Signing up was quick and easy. There were two options to create an account:

Facebook Account

Email Account

Signing up literally took me one minute to complete before being able to move on to the next part of the onboarding process.

Ready To Try Hungryroot?

Click below to save $40 on your first Hungryroot order!

Save $40 on your first Hungryroot order!

Step 2 – Complete A Food Preference Survey

After signing up, you are immediately greeted with a quick survey to determine the types of meals and ingredients that will be offered to you.

The first part of the survey asked how many people I was feeding with Hungryroot meals as well as my goals with Hungryroot. The goals I chose from included:

Save time

Try new food

Grocery shop less

Eat more plants

Lose weight

Improve health

Dietary Needs

The next step asked about my dietary needs and preferences.

I was offered several dietary need options which included:

Vegan

Vegetarian

Pescatarian

Dairy-Free

Gluten-Free

Soy-Free

Tree Nut-Free

Peanut-Free

Egg-Free

Shellfish-Free

Breakfast Preferences

The next part of the survey asked me about my eating habits and what I wanted to use Hungryroot for. The first question was about my breakfast preference.

From the choices, I was able to select:

Breakfast (like pancakes or cereal)

Snacks (like a handful of nuts)

Breakfast and Snacks

No Breakfast or Snacks

When we started with Hungryroot, our primary mission was to save time with dinners so I opted out of the breakfast and snacks to save money when I first tried out the program.

Lunch Preferences

The next part of the survey asked me about my lunch preferences.

The for options offered were:

Lunch (like a grain bowl or pasta)

Snacks (like crackers or veggies)

Lunch and Snacks

No Lunch or Snacks

Again, I was focused on dinner meals so I selected no lunch or snacks for my first time.

Hungryroot Lunch and Dinner Preferences

Predictably, the next part of the survey was my dinner preferences.

The four options for dinner were:

Dinner (like a grain bowl or pasta)

Snacks (like crackers or veggies)

Dinner and Snacks

No Dinner or Snacks

This was the area I was most excited about. I chose the dinner option to see what I would be offered.

Ready To Try Hungryroot?

Click below to save $40 on your first Hungryroot order!

Save $40 on your first Hungryroot order!

Desert And Sweets Preferences

The final step to the survey involved deserts. I heard great things about their black bean brownies so we decided to opt for a few deserts.

The section for deserts was quite simple. It asked if I liked sweets and gave me three options:

Absolutely

So-So

No Thanks

For us, we chose “absolutely.”

Step 3 – Checking Out And Total Page

This is probably my least favorite part about Hungryroot. After making the basic selection for my preferences, Hungryroot forces you to pay for your subscription – before you actually know what they are going to suggest to you or what food options are available.

This was almost a deal-breaker for me because I don’t like to buy things before I actually know what I’m getting.

My initial total was $51.91 for eight dinner servings and two separate recipes combined with four to six servings of desert credits.

It should be noted that originally my subscription for what I chose should have been $91.91 but because I was a first-time subscriber referred by a friend, I qualified for $40 off my first two orders.

I decided to go through with the purchase because my friend spoke highly of the service and it was only $51.91. Because Hungryroot allows you to cancel after the first order if you are not satisfied, I paid for the order.

Ingredients Offered By Hungryroot

After paying for my subscription, I was able to learn more about the ingredients and meals available with my subscription.

Foods offered by Hungryroot are plant-based. According to Hungryroot, they try and source as many organic ingredients as possible. The meals are free of preservatives, refined sugars, and trans-fat. From our experience, the meals come packed with complex carbohydrates, nutrients, and healthy fats.

With Hungryroot, we found the meals were not packed with sodium, trans-fats, and artificial preservatives provided by some of the other meal kit delivery services on the market.

What Is Hungryroot? Groceries Instead Of Kits?

Instead of kits, Hungryroot delivers groceries so you can make your meals at home. You can either order the required ingredients for their suggested meals or you can pick out the groceries you would like to make your own meals. Some of the more common groceries and core ingredients Hungryroot provides are:

Popular Sauces And Dressings

Tubs of peanut sauce

Superfood tomato sauce

Sesame ginger sauce

Thai peanut sauce

Peanut butter

Ginger tahini

Almond butter

Avocado crema

Popular Sides

Rice

Bags of stir-fry veggies

Sweet potatoes ribbons

Grain bowls

Cashew cheese

Cauliflower rice

Veggie noodles

Asian salad mix

Baby broccoli

Baby carrots

Snap peas

Brown rice

Quinoa blends

Baby spinach

Rainbow veggie mix

Popular Main Course Dishes

Feta turkey burger

Tomato black bean enchiladas

Chicken ‘n guac tacos

Can’t believe it’s not mac ‘n cheese

Honey poppyseed salmon salad

Grilled chicken tahini wrap

Broccoli black bean burrito bowl

Sesame ginger poke bowl

Veggie vinegarette beyond burger

Chicken curry bowl

Kale Pesto

Lemongrass tofu nuggets

Yuba noodles

Roasted salmon

Wild mushroom meatballs

Spinach garlic chicken sausage

Chicken breast

Lentil pasta

Tofu Bites

Kohlrabi noodles

Chickpea pesto

Butternut squash noodles

Seven veggie stir fry

Tofu veggie burger

Garlic parmesan

Favorite Deserts

Oatmeal spice cookie dough

Almond chickpea cookie dough

Black bean brownie batter

Dark chocolate banana bites

Carrot cake coconut cookies

How Hungryroot Works

After selecting your food preferences, Hungryroot offers a selection of the top two or three meals based on your food profile. For instance, they may recommend cauliflower rice, wild mushroom meatballs, and chicken. This meal can come with a top-up of green chili sauce. All you need to do is heat the meal, combine as you see fit, serve, and enjoy.

Hungryroot selects all the ingredients with your health in mind. Although Hungryroot is not a 100% vegan, wheat-free, or dairy-free service, they strive to offer meals that are free of these items based on your selection.

Easy Preference-Based Substitutions

For meals with a traditional creamy white sauce, Hungryroot substitutes cream with cashews. The service can then pair this meal with chicken sausages instead of pork sausages. They may also offer chickpea pasta or zucchini noodles to avoid the pasta wheat flower. By creating customized choices with only healthy ingredients, Hungryroot helps you eat as healthy as possible during each meal.

Plan Credits

Depending on the plan you choose, each plan offers a specific number of credits. Different ingredients cost a varying number of credits. For instance, if you want meat-based meals such as chicken or pork, you will use more credits than someone who prefers vegetables. If you always order meat-heavy meals, you will require a high-credit subscription plan because low credit plans will not meet the size of the order you need. If you choose meat on a lower credit meal, you will end up with a smaller amount.

Choosing Favorite Ingredients

Hungryroot only suggests ingredients that meet your recipe preferences. If there are specific ingredients you do not want, you can place a never-rating on it. Once you subscribe and set your preferences, you will be ready to receive the orders you place.

Where Hungryroot Delivers

Hungryroot ships food to the lower 48 states and the shipping is usually free, depending on where you live. If you live in a place where ground shipping is possible, you will only need to pay the subscription fee for the plan you choose and no shipping fee. If the delivery requires a shipment by air, you must pay an extra $10 shipping fee.

The meals and ingredients are delivered to your door during the week between 9 a.m. and 9 p.m. To preserve the food’s freshness, Hungryroot packs it in an insulated cardboard box with ice packs.

Who Is Hungryroot Good For?

If you want a healthy “plant-forward” meal every day of the week, Hungryroot might be a good option for you. If you also love the convenience of limiting your shopping trips for groceries and having a long list of groceries to choose from, you will love Hungryroot. The meals offered can be prepared in 15 minutes or less.

Simple Ingredients

Most people do not like food subscription boxes because of the high price and the long list of ingredients in the kits. Hungryroot is for people who need to make meals with simple ingredients, desserts, and sauces in a short amount of time. If you do not want to go through shopping and planning for ingredients to prepare a healthy meal, yet you love eating healthy, Hungryroot is for you.

Saving Time

It is also for people looking to save time. If you are pressed for time to go to the grocery store and prepare healthy meals, just pick a plan that meets your needs, and you will be good to go. All the ingredients come pre-cut, and your work is easy – warm the ingredients, serve, and eat.

Ready To Try Hungryroot?

Click below to save $40 on your first Hungryroot order!

Save $40 on your first Hungryroot order!

Who Is Hungryroot Not Good For?

If you love meat and dairy, you may be disappointed that Hungryroot only has a limited number of meals that include meat as a primary protein source. Also, dairy options are limited.

If you love large portions, the packages Hungryroot offers may not satisfy you as they are meant for healthy proportional meal sizes. For people on a budget with plenty of time to go to the grocery store and who live in a low cost of living area, Hungryroot may be an unnecessary expense.

In some areas, you can buy groceries that serves you for two weeks for $70, but this only gives you about two dinners and eight servings a week with Hungryroot.

Hungryroot’s Price Compared To Sun Basket

Hungryroot’s main competitor is Sun Basket. Both services offer vegetable-centric meals with a focus on health. You can pick either of the services if you have dietary restrictions because both allow for customization to your order. However, from our experience, Hungryroot ingredients and meal plans are easier and faster to prepare than Sun Basket’s.

Hungryroot offers meal plans between $7 and $11 per serving, depending on the ingredients you choose. Sun Basket, on the other hand, sells its packages at between $10.99 and $12.99 per serving, also depending on the ingredients. Hungryroot doesn’t charge for shipping, while SunBasket charges a flat fee of $6.99.

Hungryroot Recipe Cards

From each ingredient package, Hungryroot sends cooking instructions and nutritional information for each meal. Hungryroot also gives recommended ingredient pairings. However, you can pair the ingredients in any order you prefer.

Personalizing The Items You Receive

Because Hungryroot focuses on in-season produce and ingredients, they release new items every Thursday. If you are not sure what to choose, you can opt for the recommendations the service offers based on your preferences.

When selecting your items, you need to note the following:

Some of the items you want may not be available due to the current season and inventory. There is a disclaimer that says if an item is not available by the time you order, Hungryroot will substitute it for you. Granted, you need to set preferences to ensure that the service only sends you substitutes you will love.

Dietary preferences still matter even when you choose the items you need. When you set dietary choices, Hungryroot only delivers products in the categories you select. For instance, you can choose vegan, gluten-free, vegetarian, dairy-free, soy-free, and nut-free. The service also grays-out the items you never want to receive. When sending out your ingredients, they will consider the items you set in your preferences and send them to you.

As you browse their ingredient list, you can mark foods as “Never, Often, or Sometimes” as suggestions. Foods you add to the Never category will never be sent to you either as main meals or as substitutes. Foods you add to the Sometimes category might come as substitutes, while foods under the Often category will ship to you frequently.

Choosing A Hungryroot Plan

Hungyroot does not offer specific plans. Your pricing is exclusively tied to your preferences and the servings requested. Depending on what you prefer as far as dinner, lunch, breakfast, desserts, and or snacks, your price can vary from $50 a week to over $100.

Hungryroot Vs. The Grocery Store – Which Is Cheaper?

Buying ingredients at the grocery store is usually always going to be cheaper than any food service. However, in some high cost of living areas, groceries may be more expensive than Hungryroot when you compare what you get from Hungryroot versus what it would cost to buy at the store.

The challenge comes when you need specialty groceries such as kohlrabi noodles, almond chickpea cookies, and smoked salmon. Some of the items are not available in local stores, so Hungryroot comes in handy.

Keep in mind, when you order from Hungryroot, you are paying for convenience and the time you save by not having to go to the grocery store or plan out meals.

If you are running on a tight budget and love to shop the sales, Hungryroot might not be suitable for you. However, if you want the flexibility and convenience of shopping for healthy food items and preparing meals in about 15 minutes, Hungryroot may be a great choice.

How Much Does Hungryroot Cost?

The amount you pay will depend on the amount of food you order, but you can expect to pay a minimum of around $50. You choose the items you want, and the bill is calculated based on the number of credits you use. From the items you choose, Hungryroot will show you a sample bill that details all the items you will receive and the credits required for each item.

If you go over your credit limit, you can add or delete ingredients to see the credits adjusted in real-time. Hungryroot requires you to order a minimum of six servings of dinner or lunch items. As the number of meals you order increases, so does the price of the meals.

Hungryroot will only ship one box to you each week. This limits the amount of food you can order each week. While the weekly order should satisfy most families, keep in mind there is a limit depending on the size of the meals and ingredients you choose.

Hungryroot Shipping Costs

If your meals ship by road, you will not pay a shipping fee. If air delivery is needed, you will pay a flat shipping fee of $10.

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When Are Hungryroot Meals Delivered?

Every Thursday, Hungryroot showcases new offerings for their subscribers. You can choose from the fresh options offered each week, or decide to keep your earlier choices. Hungryroot delivers meals every week, but you can skip a week more, depending on your family’s needs.

Because the service doesn’t deliver twice in the same week, you can order more meals during the one delivery day to ensure you get enough for the week.

How Is Hungryroot Delivered?

Hungryroot delivers in large cardboard boxes insulated to keep them cool during transit. They also have cold packs that help maintain the freshness of the meals. The insulation is biodegradable, while the box is curbside recyclable.

Are The Hungryroot Containers Recyclable?

Because we are environmentally conscious, we were happy to learn the shipping boxes are made out of recycled paper and are able to be recycled. The ice packs included in the boxes are filled with non-toxic gel and the thermal liners are also made from recycled materials that are also recyclable.

The entire shipping container and packaging Hungryroot uses to ship the items are 100% recyclable!

Canceling Your Order Or Your Hungryroot Account

If you do not want to receive meals every week, you can stop your subscription and set your delivery preferences. To do this, open the tab “In Your Future,” from where you will see what is scheduled to ship to you.

From there, you can click the reschedule button and choose the weeks you need to skip. In the “Future Tab,” you can see your meal preferences and make the necessary changes. From this tab, click “Customize” and start choosing the meals you’d like to receive in the future. The process is simple as the system keeps you within your allotted credits.

You can change your plan’s size, shipping address, and delivery date on the settings section of your account. If you are not home for a few weeks or need a break, you can pause the subscription skip weeks by the deadline. You can also stop your subscription completely from the Account tab. If you need help managing your subscription, check out the Hungryroot help center.

How Long Does Hungryroot Food Last?

Hungryroot packs and ships food in insulated air-tight containers. The food can stay fresh for up to two days while in transit. All the food items are in cardboard packages with ice packs and a bubble cooler. This packaging keeps food fresh until you unpack it and refrigerate it at home.

A big bonus for my environmentally conscious wife, all the packaging materials are recyclable. Although Hungryroot doesn’t offer an address where you can ship the containers for recycling, their website provides a guide on recycling the boxes and other materials.

How Many Calories Are In The Typical Hungryroot Meal?

Hungryroot clearly marks the calories of each food item they offer. This allows you to count your calories if you are watching your weight. The total number of calories for each meal depends on the ingredients in the meal and any extra sides, sauces, or deserts you add.

Calories In The Base

The bases you choose, including greens and grains, will give you between 15 and 240 calories per serving. If you pick zucchini noodles, they will have a low number of calories compared to quinoa or brown rice. You can choose your options based on the calories you need.

Calories In Protein

There are different protein sources available on the Hungryroot menu. Lean meats offer up to 100 calories per serving and sometimes fewer. If you pick plant-based salads and other protein mixes, you will have 230 calories or more. Sauces come as low as 20 calories per serving. If you choose pesto-type options, you can have as much as 150 calories from a single serving.

If you are trying to lower your calorie intake; skip the optional sauces.

Average Meal Caloric Total

On average, the meals will come out to between 300 and 400 calories per serving. You can choose the meals depending on your health goals. If you need fewer calories, some meal combinations can give you as low as 100 calories. You can also go as high as 600 calories with some food items.

Grab And Go Calories

Grab-and-go meals from Hungryroot come as ready-to-eat snacks, and other meals will offer between 50 calories for green juice and 340 calories for cultured coconut creams. There are also many food options – so choose based on your health goals. The desserts offer about 100 calories per serving. These include cookie doughs and brownie batter.

Hungryroot And Weight Loss

Losing weight depends on the number of calories you take in every day. To lose weight, you need to take fewer calories than you burn every day. If you burn 2,500 calories every day, you need to consume fewer calories, say 2,000 or lower.

Hungryroot makes its meals better for weight loss by indicating the number of calories every meal offers. If you are on a diet, total the number of calories each meal item offers and see how much your favorite combinations provide.

Some meals from Hungryroot offer fewer calories, while some offer a high number of calories. When creating your account, Hungryroot will ask questions to determine the kind of meals you need. Check the meals that have fewer calories and add them to your preferences.

Cooking A Hungryroot Meal: How Long Does It Take?

From our experience, most of the meals take about 15 minutes to fully prepare and serve.

Unlike meal kits that come with a bunch of ingredients, Hungryroot offers three or four prepared meal items for you to mix or warm and mix. The meals might include a bag of pre-cut vegetables and sauces. The service also provides you with the recipes you need to combine the meal items in minutes.

The Basic Meal Preparation

In most cases, you will only need to saute or heat the vegetables and the proteins. After heating, top the meal with sauce, and you are set. Every meal we have prepared has only taken a maximum of 20 minutes. After the preparation, the cleanup is easy because all you need is to clean a single saute pan.

For some of the meals, it feels like you are assembling a meal rather than cooking one. Because the meals and ingredients are prepped by the Hungryroot staff, combining ingredients and heating them is the extent of the meal preparation.

The recipes included are easy to follow, but they also give you the freedom to choose how you need to combine the food items. You can add extra ingredients to the meals provided if you want to add extra spice or a side. You can also cut the pieces of the chicken or sausage or any other ingredients you need. If you do not like the combinations Hungryroot recommends, you can choose different combinations as you see fit.

The food items are packaged in plastic bags or tubs. The overall package has less plastic than you will have when you shop at the local grocery store. Hungryroot offers a guide on recycling, but you cannot ship the packages back to them for recycling. If your local recycling plant accepts tubs and plastic bags, you can give them off and keep the environment safer.

Is Hungryroot Keto-Friendly?

Most of the meals that Hungryroot offers are not keto-friendly because the foods contain fewer fats. If you are on a keto diet, you can choose foods with high-fat content, such as meats and some oily plant-based sources. However, you need to supplement the food from Hungryroot with a high-fat diet from elsewhere to keep yourself in ketosis.

Recently, Hungryroot started adding paleo and keto-friendly ingredients. The menu has more paleo-friendly options than keto-friendly options at this point.

Hungryroot Promotions

Hungryroot promotions give you more without charging you extra. Some of the Promos include:

Free Surprise Dough For Life – If you sign up with this promo, Hungryroot gives you a free Brownie Batter or Cookie Dough in every delivery as long as your subscription is active.

Choose Your Own Gift – You will get a free gift when you sign up. Choose your gift from a Chickpea Cookie Dough, Banza Chickpea Pasta, and Fresh Vegetables.

Free Veggies for Life – You will get free veggies with every delivery if you sign up with this promo.

Breakfast for Life – This promo adds you a breakfast item with every delivery as long as your subscription is active. Pausing your subscription doesn’t affect the promo.

Free Banza for Life – You will get Banza chickpea pasta with every delivery as long as your subscription is active.

Ancient Grain Pancake Mix – Get a free pancake mix with your first delivery.

SuperFood Almond Butter – This is a free almond butter offer with your first delivery.

You can subscribe to any of the above promos while they are active. Keep in mind, many of them are continuous during your subscription while some are a one time only gift.

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Hungryroot Customer Support

From our experience, their Help Center is very responsive. When we needed to alter an order before the cutoff date, we were able to contact support who quickly responded to our email.

The customer care team is available through email, live chat, and on the phone. You can reach out to the customer support team any time between 10:00 am and 6:00 pm EST except on holidays. They are also available on Twitter, Facebook, Instagram, and Pinterest. The team responds quickly when we had issues with our account.

The Pros Of Hungryroot

Making meals with Hungryroot during the week is extremely quick and convenient. In our busy lives, a few of our meals each week are prepared by Hungryroot, and we only spend about 15 minutes preparing and cooking them. It saves us a tremendous amount of time because we don’t need to go to the store for the ingredients or spend time meal planning. As a family of five, this is a huge bonus for us.

You can personalize the meals you receive. Hungryroot offers a host of options, including allergen-friendly choices, dairy-free, vegan, tree nut-free, soy-free, peanut-free, egg-free, and pescatarian, among others. You can set the foods you need to receive often, foods you want on occasion, and foods to never receive.

All ingredients come prepared, so you never spend your time preparing or getting your utensils dirty during preparation. Some meals do not require cooking – warm them, and they are good to eat.

The foods are healthy but flavorful. If you need more vegetables in your diet, you can do that with Hungryroot. The service can easily replace meat with plant proteins. Wheat pasta and diary also have substitutes. Hungryroot claims to use as many organic ingredients as possible, but they do not state the percentage of organic ingredients in the meals.

Free shipping and a relatively low per-serving cost make Hungryroot an impressive choice. Compared to traditional meal delivery services, Hungryroot is relatively affordable, and those on a budget and pressed for time will love the options.

The Cons Of Hungryroot

cons of hungryroot review

The biggest negative for us was the need to pay for the service before we knew what we were getting or what was available. Luckily, we trusted our friend and went through with the service and were impressed with the results.

There are certain dates set each week you have to make a final decision on your order. We found there is no leniency if you want to cancel or change your order in any way after this date.

Hungryroot doesn’t offer the convenience of a mobile app like most meal delivery services. A mobile app would make the process of creating an account and changing your preferences easier. However, you can access the website through a mobile device and make any necessary edits with your web browser.

The credit system can be confusing and it would more clear if they offered a tiered plan with a set amount of meals you can order.

My Hungryroot Review And Recommendation

I like Hungryroot because all of their meals focus on health and proportional meal sizes. From our experience, eating a vegan diet is challenging because many of the meals we make at home lack flavor. With Hungryroot, we found the ingredients, sauces, and condiments they provide add an extra element of flavor that we were missing with our traditional meals.

The service seeks to make healthy eating as easy as possible. The vegetables come prepped; sauces, proteins, and other plant-based ingredients help you make a meal in a few minutes.

I recommend Hungryroot to anyone who needs the convenience of making a healthy meal in a short amount of time. On days when I need a quick meal without going for unhealthy take-outs, Hungryroot comes in handy. We have been using Hungryroot for the past month and have worked it into our budget so we can afford it for those days of the week that are extremely busy.

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This post originally appeared on Arrest Your Debt.

Vacations can be expensive. You’re buying not only flights but paying for somewhere to stay, and activities to do while you’re there. Maintaining a travel budget can be difficult. However, combining purchases, for instance, using vacation packages, can help reduce costs and maybe even get some great discounts on things to do.

What Exactly Are Vacation Packages?

So, what exactly is a “vacation package”? Think of it as a bunch of vacation stuff bundled into one payment. The term I think can be misleading because you may automatically think that a vacation package encompasses your whole trip. That’s not necessarily true.

A vacation package can be for your whole trip, for a weekend, or even for a day. It can also just refer to bundling payments regarding flights, hotels, and car rentals. There are also “vacation packages” that involve only booking activities while you’re at your destination. Some include just a tour guide and some major sites to see.

Basically, a vacation package is when you purchase more than one thing together for your vacation. It can be any combination of things meant to help you plan your trip and save money.

Where Can You Book Vacation Packages?

Whether you’re planning or looking to put together a last-minute travel package, there are several ways to go about your booking.

Online Travel Sites and Through Airlines

Any travel website and any airline website will have vacation package options for you. For instance, on sites like Expedia, you can choose the option that says to book “flight and hotel.” That’s one way to bundle. Another is to choose the “vacation package” option and see what other ways you can bundle.

On Expedia, to continue the example, you’ll be able to add a car to your package under the vacation package. On Southwest Airline’s website, you’ll be able to choose activities as well.

Aside from Expedia, there are dozens of online travel site options out there for booking your travel packages. I do recommend comparing prices from different websites to see which gives you a better deal. Some examples of where to get started:

Orbitz

Travelocity

Priceline

Expedia

CheapTickets

Kayak

Just be aware when using these sites that they are essentially the middle man. So, if for some reason you need to cancel or make changes, you’ll have to go through them, not the actual travel company that’s taking care of you at your destination.

Sometimes getting your money back can be tricky, so if you aren’t one hundred percent certain about your plans, consider either waiting to book until you are or contacting local companies directly so that you don’t have the middle man issue.

Booking Sites

Booking sites like Viator or TripAdvisor are great options for reserving weekend travel packages at your destination or day trips. For instance, if you’re in Germany and want to take a quick trip from Munich to the Austrian border, you can do so by booking a day trip package. The package will likely include transportation, a tour guide, and a meal (either included or a stop where you can purchase one).

These sites can also be used to book activities, excursions, and tours. Booking these kinds of travel packages is a great way to experience the local culture and not worry about the details that come with planning it!

Through Your Travel Credit Card

If your travel wallet has a credit card with great travel perks, then be sure to check out the website (or call them) associated with your account. It’s another resource you can use for finding deals and bundling payments. By booking through your travel credit card, you may also easily pay for everything using your points.

Groupon & LivingSocial

Groupon has a lot of travel options to choose from. You go to their vacation option and choose where you’d like to go. This is also a great way to see different destinations and deals being offered if you are stumped about where to go in the first place.

LivingSocial is similar to Groupon and has very similar deals. I think it’s always a good idea to compare cost and what you get before you book. Comparing these two should give you a good idea, and make sure to read the fine print!

Hotels

Different hotels and resorts offer packages for guests who book directly through them. This can include packages for different activities, meals and resort credit, or even the ability to stay free for a night if you book a minimum number of nights.

No matter where you decide to go, be sure to check out the official website of where you’re staying and see what they offer.

All-Inclusive Vacation Packages

All-inclusive vacation deals generally refer to everything at the hotel/resort being paid for or included in your room’s price. For instance, all of your meals and alcohol will be paid for in the per person price of your hotel room, and you don’t have to worry about that cost while you’re there.

As far as vacation packages go, this is a great option for longer stays, especially at resort and spa locations where you will likely be spending the whole time at the resort itself. Of note, these all-inclusive trips don’t always include all excursions or activities on-site, so be sure to check the options. Also, the flight may be separate unless you book the all-inclusive resort together with your flight.

(Keep in mind that all resorts do charge a daily resort fee. That, plus taxes, are not included in the all-inclusive price, so you will still be responsible for paying that upon checkout)

Costco Travel Packages

If you have a Costco membership, then be sure to check out the Costco Travel website. Exclusively for Costco members, the site offers flight and hotel deals and curated vacation packages. One of the nice things about them is that the price you see is the price you pay; taxes and fees are all included, making it easier to understand what you will be paying – no surprises!

For any executive members out there, the 2% cash back applies to your travel purchases as well!

Travel Agents

This is not as commonly used nowadays. However, travel agents are still a great resource for helping you book your travel package. Through agents, you can often customize your travels in many more ways than a simple online booking would allow.

As an example, they can not only help you with your airfare and hotel stays but can also book activities, tour guides, airport transportation, and much more. By booking together, they can sometimes get a better deal for you (not always); they may also have contacts within different companies that will help you with discounted prices.

For anyone who wants everything booked together and really don’t want to think about it, a travel agent can be beneficial.

Pros and Cons of Vacation Packages

While they sound great, there are good and bad aspects of purchasing these packages.

Advantages

Depending on your trip and what you hope to do, vacation packages can be a great way to pay for it all at once and not incur any additional cost while you’re at your destination.

Some distinct advantages include:

Bundling payments help save in overall costs.

Some activities and events may be preplanned and included in the package’s cost, saving you from having to plan or pay for it separately.

Tours and guides may be included, which can be very helpful if you don’t speak the language.

Airport transfers may be included, reducing the stress of getting to your hotel once you’ve landed.

Not all packages need to encompass your entire trip; there are tons of options for choosing what kind of package works for your vacation needs.

Disadvantages

While there are many great things included in vacation packages, I think there are some limitations to using them. For instance,

Less flexibility once you’re at your destination – everything is preplanned! If you don’t do something or don’t want to do something in the package, you won’t get your money back.

If activities are canceled for some reason, they’ll often be replaced by something else without asking you. If they do give you a choice, your options will be limited.

Meals may not be included, so that is usually a cost you’ll have to add to the package. Any meals that are included are at restaurants that you don’t have a say in choosing.

Travel visas are still your responsibility, where applicable.

You often have to pay for packages upfront so that it can be a high cost all at once.

The best deals on vacation packages may depend on your travel dates, so your flexibility there may be reduced.

When Should You Purchase A Vacation Package?

This all depends on where you’re going and what your goals are. To give some examples of how I think about it:

I love all-inclusive vacations when I’m taking a trip to a beach resort. I feel like it just makes life so much easier.

When I’m going to a country where I’m not familiar with the language and/or my time is limited, I like to get day packages for tours and activities. I find this especially helpful when I’m traveling alone. I feel that I can see more of the typical tourist sites this way, and then I leave the other days for my own creative planning and wandering around.

If I’m traveling somewhere and have only one final destination, i.e., staying in one hotel, I’ll try to find vacation packages that bundle flight and hotel costs.

This is definitely a personal decision that depends on what you hope to get out of your trip.

How Much Are You Actually Saving With Vacation Packages?

Depending on where you look, websites will advertise that buying packages or bundling payments can save you hundreds of dollars. This may be true, but the actual number will vary depending on your trip.

The best thing you can do is check prices for packages and then calculate how much it would cost if you booked those items separately. Then you’ll have to see if those savings are enough for you to go through with it. Not all savings are worth it.

For instance, if you realize that a package will stifle your spontaneous ability, that package may not be worth the savings.

Final Thoughts

Whether it’s a solo trip, going on a family-friendly vacation, a romantic getaway, a girl’s weekend, a vacation to relax, a vacation filled with activities, a visit to the mountains or a beach resort, there is a vacation package out there to suit your needs.

You can book packages across a full range of options depending on your budget and vacation goals. Vacation packages can take the stress out of planning. Just be sure to calculate how much you’re saving and see if it’s really worth it for you!

Your next bucket-list vacation awaits. Happy Travels!

This post originally appeared on Arrest Your Debt.

In a perfect world, you’d wake up every day and live the life of your dreams. Unfortunately, however, this is easier said than done. Sometimes, you need the support of a professional such as a life coach to achieve your unique goals.

From young professionals to leading athletes, people from all walks of life often hire life coaches to help them live their lives to the fullest.

So what exactly is a life coach, and can you benefit from one? Let’s dive deeper into the answers to these questions.

What is a Life Coach?

A life coach is a wellness professional who helps all types of people succeed in their personal and professional lives. They will work with you to identify and overcome obstacles and make the most of your strengths based on your particular goals and needs. A life coach may also help you improve your relationships at home and in the workplace and excel in various aspects of your life.

It’s important to understand that a life coach is not the same as a therapist. While a therapist is a trained mental health professional who can diagnose and treat mental health conditions, a life coach focuses on personal development, motivation, and empowerment to meet your goals.

If you’re living with a mental health disorder like anxiety or depression or wish to heal from previous trauma, a therapist is likely the better choice. On the contrary, if you’re feeling “stuck” and wish to live a meaningful life you’re proud of, hiring a life coach could be a good option.

Life coaching may be particularly beneficial if you wish to clarify and achieve certain personal or professional goals. Life coaches can also help you become more financially independent or achieve a healthier work/life balance. You’ll find that working together with a life coach can motivate and inspire you to live a better life and achieve your desired results.

Types of Life Coaches

Not all life coaches are created equal. In fact, there are a variety of life coaches available. Some are holistic, while others specialize in one or a handful of areas. Here’s a brief overview of the types of life coaches to consider for your individual needs.

Holistic Life Coach A holistic life coach can help you improve your life as a whole, not just the individual parts.

Career Coach With a career coach, you can meet your short and long-term professional goals. They can assist with career planning, interviewing, and negotiating to optimize your professional life.

Divorce Coach You can count on a divorce coach to support, motivate, and guide you as you go through the process of divorce and emerge stronger and more confident in your personal life.

Executive and Leadership Coach If you’re an executive, manager, or business leader, executive life coaching can unleash your potential and show you how to steer your team or organization toward success.

Family Life Coach A family life coach can assist with relationship issues between parents or parents and children. They can also help you with a healthy work/life balance.

Financial Coach With a financial coach, you can receive the support you need to develop smart financial habits, meet your financial goals, and enjoy life more with less money stress.

Fitness Coach If you wish to improve your diet and establish a sustainable workout routine, a fitness coach may be an invaluable resource to help you achieve your desired results.

Health and Wellness Coach A health and wellness coach can help you achieve and maintain a healthy lifestyle and improve physically, mentally, and emotionally.

Life Skills Coach With a life skills coach, you’ll gain personal development skills, learning how to manage day-to-day tasks, and become more independent.

Recovery Coach A recovery coach can support you in your recovery from alcohol, drugs, or related addictions.

Relationship Coach The goal of a relationship coach is to assist you with a personal relationship such as a marriage. They offer advice to deepen intimacy and pleasure between you and your spouse.

Spiritual Coach A spiritual coach can help you find your inner peace through various metaphysical and spiritual tools.

Life Coach Certifications and Qualifications

There are no formal education or certification requirements for life coaches. Many of them rely on their own life or professional experiences to help clients meet their goals. Some life coaches, however, do take the time to earn certifications. A few of the most popular designations include:

iPEC Certified Coach An iPEC Certified Coach has received the hands-on training they need to help clients focus on the root of a challenge and shift the energy that feeds their thoughts, words, and actions.

ISSA Certified Fitness Coach An ISSA Certified Fitness Coach has completed various exercise science courses such as Group Exercise, Bodybuilding, and Yoga.

FFC Financial Fitness Coach An FFC Financial Fitness Coach has undergone specialized training to help clients create healthy financial habits and implement realistic action plans for their finances.

Spencer Institute Certified Holistic Life Coach A Spencer Institute Certified Holistic Life Coach has mastered holistic philosophies that allow clients to meet their personal fulfillment goals.

What is it Like Working with a Life Coach?

If you decide to move forward with a life coach, you’ll likely meet with them three or four times a month. Depending on your particular needs, however, more or fewer sessions may make sense. As you begin to meet your goals, you may reduce the number of sessions you originally signed up for and work with your life coach periodically.

Thanks to video conferencing tools, most life coaches offer virtual sessions. These may be a great option if you lead a busy life and don’t have the time to travel to meet with your life coach. They can also be a good choice if you wish to work with a life coach that lives far away from you. If you prefer an in-person relationship, rest assured that in-person sessions are almost always an option.

While each life coach has its own rates, most charge anywhere between $200 to $1,000 per month for several sessions. A specialized life coach such as a career or financial coach will likely charge more than a general holistic life coach. Also, virtual sessions tend to be more affordable than those performed in person.

It usually takes at least a few months of sessions to reap the benefits of life coaching. Therefore, life coaches often require that you commit to them for at least three to six months. Fortunately, they’ll usually allow you to stop working with them without a penalty if you don’t find value in their services.

To make the most out of a life coach, you’ll have to do more than show up to sessions. It’ll be your job to follow your coach’s advice and incorporate what you’ve discussed in your day-to-day life. It’s also imperative that you do your homework in between life coaching sessions.

We asked Allison Task, a Career & Life Coach based in New Jersey, to describe her homework expectations from clients:

“I tell my clients to plan for 5-10 hours of coaching homework per week for optimal results. That way, we focus on strategy in our in-person sessions, and clients will accomplish more faster.”

Homework assignments will depend on your unique goals. In most cases, however, they’ll be fairly simple and straightforward. Your life coach might ask you to keep a journal of things you’re grateful for or create a list of experiences if you’d like to check off your bucket list. Homework is typically designed to encourage you to think about your current life and future goals proactively.

One financial life coach shared his thoughts on what to expect when you start working with a coach:

“Financial concepts might seem simple at first, but they can be hard to implement on your own. A financial coach is here to help you implement these concepts into your daily life. When hiring a financial coach, you should expect to learn about how to manage your money better, how to create healthy financial habits, and see financial results within your first meeting.” – Marco Carreira, Carreira Finance.

Another coach who specializes in helping women going through divorce offered an additional perspective:

“When professional divorcing women hire me as their financial coach, we work together for six months. I help them make wise financial decisions during this very emotional time. The work is very individualized based on my clients’ unique needs. I cover both the practical financial steps they need to take, and also address the emotional and mindset issues so divorcing women can permanently improve their relationship with money.” – Christine Luken, Certified Financial Counselor with 7 Pillars, LLC.

Should You Hire a Life Coach?

There are several reasons you may benefit from working with a life coach. Maybe you’re searching for someone to guide you to reach your personal goals or achieve your full potential in your career. Or perhaps you’ve experienced a major life event and are unsure of how to move forward. Here are several situations that may warrant a life coach.

Getting married: While tying the knot is exciting, it also comes with new financial obstacles that you may not know how to navigate. For example, a financial coach can help you decide if you should combine your finances after marriage and address money topics like debt and spending that may be difficult to bring up on your own.

You landed a new job: Whether you just received a major promotion or recently lost your job, you can work with a career coach to thrive in your new professional situation. Your coach can help you develop a plan to succeed in your new position or find an ideal role for your education, experience, and preferences.

You want to improve your physical health: A fitness coach or health and wellness coach may be well worth your time if you’re looking for a customized nutrition plan and workout routine individualized for you.

Getting divorced: With a divorce coach, you can get through your divorce’s stress and chaos and start fresh. If you have children, they may help you pinpoint and fulfill their needs.

You’ve completed an addiction treatment: If you’re transitioning back to everyday life after an outpatient or inpatient addiction treatment, a recovery coach can connect you to resources so you can reenter the workforce, resolve legal issues, and meet other goals. They may also empower you to identify and overcome common relapse behaviors.

You have a mental disability: A life skills coach can help you develop the skills you need to integrate into your community, pursue employment opportunities, and lead a higher quality of life.

You recently become a part of a blended family: If you’ve remarried and are now a part of a blended family, you can face your unique challenges with the guidance of a family life coach.

How to Find a Life Coach

Since there are countless life coaches out there, it’s important to do your research and evaluate all your options. Here are some things to ask yourself while you’re looking for the right professional.

What type of life coach are you looking for? If your main goal is to improve your finances, a financial coach is likely your best bet. If you’d like to lead a healthier lifestyle, a health and wellness coach can be a good fit.

When do you want to start? You may want to work with a life coach as soon as possible or wait a few months or even a year from now. It all depends on your current state and how soon you’d like to accomplish your personal goals.

How much time can you devote to life coaching each week? Take a close look at your schedule so you can figure out how often you’d be able to meet with a life coach. If you’re a busy professional and parent, monthly sessions rather than weekly ones may be more realistic.

What is your budget? Figure out how much you can and want to spend on a life coach. If you’re on a tight budget, a specialized coach with in-person sessions may be unattainable. Many life coaches will offer a free introductory session to help you both decide if you’re a good match.

How will you measure success? Consider what you’d like to get out of a life coach. Do you wish to begin a new, fulfilling life after your divorce? Is your goal to lose X amount of pounds or have more energy during the day? The word “success” means different things to different people, so figure out exactly what it means to you.

Would you like to meet in-person and virtually? Your schedule, preferences, and comfort level will dictate whether you’d like your life coach sessions to be in-person or via video conferencing. If you opt for virtual sessions, you’ll have more life coaches to choose from. You may decide on a life coach that’s thousands of miles away yet has the experience and tools you’ll find valuable.

Hiring a Life Coach Near You

There are many reasons you may prefer in-person life coaching sessions. If you’re easily distracted or have difficulty building trust online, an in-person life coach probably makes the most sense. In-person life coaching sessions may also be a better fit if you have a chronic health condition or don’t want to worry about technology malfunctioning. Here are some resources that can help you find a nearby life coach:

LinkedIn

Yelp

Thumbtack

Hiring the Best Life Coach for You

While you may be fortunate to find your perfect life coach where you live, you’re more likely to find the best life coach for you by broadening your search. Since most life coaches regularly meet with their clients virtually via Zoom, Google Meet, or telephone, you might discover that your perfect life coach lives hundreds or even thousands of miles away!

To find life coaches based on your unique interests and individual needs, consider the following examples of online resources to find your perfect match:

Financial Coach: The Wealthtender Financial Coach Directory is a top resource to find a financial coach who understands your unique circumstances and can help you achieve your financial goals.

Relationship Coach: Relationship CoachFinder is a great place to search for a relationship coach that can help you improve your marriage or other romantic relationship.

Health and Wellness Coach: Wellness Coach Connect is ideal if you’re on the lookout for a health and wellness coach who can support your journey to a healthier, happier life.

Career Coach: GetFive has created a resource you can use to locate coaches from various professional backgrounds who can help you achieve your professional goals.

Questions to Ask a Life Coach

Once you’ve narrowed down your options and found a few life coaches that pique your interest, don’t hesitate to call or email them with questions. By doing so, you’ll find it easier to make an informed decision for your unique situation. Feel free to ask questions such as:

What is your background? Determine whether a life coach holds a special degree or certification if they don’t find out what experience they have, that makes them qualified to support you with your goals.

How long have you been a life coach? Life coaching is a fairly new industry, so many coaches may only have a few years’ experience in the role. However, what you should look for is someone well-versed in a topic you’ll need help with, such as fitness, resume writing, or employee motivation.

Where can I find reviews or testimonials? A life coach can praise themselves for days, but reviews and testimonials from their clients are far more reliable. Find out where you can find them. For example, you’ll find ratings and reviews on profile pages for financial coaches featured on Wealthtender to help you decide which coach is best for you.

What is your philosophy? A quality life coach should have their own philosophy that helps guide their sessions. Ensure you understand and agree with a coach’s philosophy before you decide to work with them.

How much do life coaching sessions cost? You don’t want to receive any surprise bills in the mail. So it’s your job to clarify a coach’s pricing structure. Inquire about any hidden fees and acceptable payment methods. Also, ask if they offer a free introductory call to decide if you’re a good match.

What can I expect from your sessions? Get an idea of what will happen if you do decide to work with a specific life coach. Is there a certain structure their sessions follow? Will you have to do homework in between sessions?

What is your cancellation policy? Sometimes, life happens, and you can’t make an appointment. Ask the coach how their cancellation policy works and whether you’d have to pay a fee for canceling.

A Life Coach Can Change Your Life for the Better

You only get one life. So why not live it to the fullest and become the very best version of yourself with the help of a life coach?

No matter your age, income, or occupation, you may benefit from one of these professionals who can help you achieve your goals.

This post originally appeared on Arrest Your Debt.

The President of the United States is the most important position in the world. With Congress and advisors’ help, the President is trusted to lead their country and move it and its people in a positive and prosperous direction.

It’s a lot to ask of one person, and despite being the Commander in Chief, the President is not always proficient or an expert in every subject. That is why there are so many advisory roles and other positions of power around the President who, typically anyway, help guide the President to make the best decisions possible given the situation.

But the President is still human, and humans make mistakes.

Even though the President has great influence over the country’s financial policies while in office, as well as a host of other factors related to your personal finances, not all Presidents are financially sound themselves.

In fact, many of our Presidents have been downright bad with money. It just goes to show that being the most powerful person in the most powerful nation does not always mean you’re good at managing your money.

In honor of the upcoming election and questionable presidential proficiency, we’ve brought you some questionable financial advice from U.S. Presidents, along with several Presidents who were downright bad at managing their money (although luckily, these typically thought better of giving financial advice).

Sit back and enjoy this bad financial advice from U.S. Presidents and some equally bad stories from those you would not want to take advice from.

Bad Financial Advice From U.S. Presidents

Thomas Jefferson

“I sincerely believe that banking establishments are more dangerous than standing armies.”

Thomas Jefferson was the third President of the United States and one of our Founding Fathers. He was also the primary author of the Declaration of Independence.

Despite having such a dramatic impact on our emerging nation, Jefferson wasn’t very good with money (more on that later), which may have something to do with why he was so against banks.

Jefferson wrote the above quote in a letter to John Taylor in 1816, highlighting his long-standing mistrust of government banks and opposition to public borrowing. Although Jefferson’s belief that banks can create long-term debt should be heeded, most Americans would not be able to get the funds needed to access many commodities without the ability to borrow money.

Specifically, homes, cars, businesses, and other major purchases would not be possible without the existence of banks and other financial institutions.

Herbert Hoover

“If a man has not made a million dollars by the time he is 40, he is not worth much.”

Herbert Hoover was President of the United States from 1929 to 1933 and was at the country’s helm as it entered the Great Depression.

While Hoover attempted to put forth a variety of policies to lift the economy, he was soundly defeated by Franklin D. Roosevelt in the 1932 election. He opposed directly involving the federal government in relief efforts and was a critic of FDR’s New Deal, which ultimately helped begin to pull America toward recovery.

Because he presided over the worst financial and economic crisis this country has ever faced, his words disparaging anyone who hadn’t made a million dollars by the time they were 40 comes off as tone-deaf and condescending. Like many who have experienced success, Hoover likely underestimated how much of that success came from favorable circumstances.

Despite his reputation of being out of touch, which this quote certainly supports, Hoover was also involved in humanitarian projects during World War I and activist programs pushing for higher wages and job-creating public projects as President.

Richard Nixon

“When the president does it, that means it’s not illegal.”

From 1969 to 1974, Richard Nixon is most remembered for the Watergate scandal that ultimately led to his resignation. However, that was not the only scandal he was involved in.

Roughly 20 years earlier, while serving as Dwight Eisenhower’s running mate, opponents accused Nixon of using political contributions from donors to live a lifestyle beyond his means. He responded with a 30-minute nationally televised address during which he discussed his family finances in detail. Whether or not Nixon misused political contributions is not clear, but his public confession saved his political career.

What is clear is that Nixon wasn’t above breaking the law to further his personal and political situation or paying others to carry out the dirty work.

Ronald Reagan

“The simple answer is, let’s make the whole pie bigger, and everybody gets a bigger slice.”

Ronald Reagan was our nation’s first celebrity president, having had a successful acting career before turning to politics. He also put in place policies that have heavily shaped our personal finances and economics and continue to influence them to this day.

Reagan’s policies became known as Reaganomics, and his presidency saw huge tax cuts and less government regulation of business. He thought if the focus on growing the economy, through making it easier for businesses to invest and grow, everyone would benefit. This idea of “trickle-down economics” espoused that tax policies that benefited the wealthy would create a trickle-down effect and ultimately reach the poor.

With the wealth-gap wider than ever, it is probably safe to say that trickle-down economics mostly allows the pie owners to take bigger slices while the pie makers get the leftover crumbs.

Donald Trump

“Getting rich is easy. Staying rich is harder.”

Finally, we come to our current president and the second major celebrity to be elected to the land’s highest office.

While President Trump has claimed a net worth of $2.5 billion, which would make him the wealthiest president in history, recently leaked tax documents suggest that the President is also currently carrying quite a lot of debt and has paid very little in taxes the last decade.

If nothing else, President Trump’s tax situation exposes the loopholes and tax laws that businesses can exploit to avoid paying taxes despite making millions and even billions each year.

Whatever your political leanings, I think it’s safe to say that getting rich is easy when you inherit $413 million, but staying rich becomes much easier when you have the capital to take advantage of almost any financial opportunity that comes your way.

After all, it takes money to make money.

5 Presidents You Would Not Want to Take Money Advice From

Now let us switch gears a bit and now talk about 5 presidents who were bad with money, and some despite being outstanding leaders.

Here are 5 presidents you would not want to take money advice from.

Thomas Jefferson

This notable Founding Father not only distrusted banks, but he was also terrible at managing his money.

Jefferson was born into an affluent family, owned a 5,000-acre plantation, and had an estimated net worth of $236 million in today’s dollars. He also profited from enslaved labor.

But despite these advantages, Jefferson also had significant debt in his later years and was even unable to leave an inheritance to his daughter, who was forced to live off charity. He not only inherited debt from his father-in-law, but he also lent money freely (often not getting it back) and was impacted by a combination of bad crop years, bad loans, and overspending.

He ultimately filed for bankruptcy and died with debts equaling $107,000, which would be over $1 million today.

William Henry Harrison

William Henry Harrison is best known as the shortest-serving President in history, serving just 31 days before dying of an illness.

Harrison was the victim of a life of public service and misfortune. First, an Army man and then a politician, he depended on his family farm for income. While serving as the Ambassador to Colombia, his farm lost all its crops due to bad weather, and creditors came calling.

He was broke as he ran for president and died a month after winning the presidency virtually penniless. Luckily, Congress voted to give his widow a special $25,000 pension so she could live comfortably.

James Garfield

James Garfield is not one of the better-known presidents, but he was likely the poorest.

Garfield was born in a log cabin, and his family, already of little means, fell into poverty upon the death of his father when he was still a toddler.

Garfield worked many jobs to pay the bills and put himself through college, most notably as a janitor and a carpenter. Despite earning a law degree and passing the Ohio bar exam, Garfield spent his life in public service and never earned much money.

In fact, he was essentially penniless when he was assassinated in 1881.

Ulysses S. Grant

Ulysses S. Grant – brilliant general, war hero, President, and bad businessman.

Grant’s war exploits paved the way to a successful presidency, in which he led the nation out of the Civil War following the assassination of Abraham Lincoln.

Unfortunately, while he was a successful military strategist, he was not a sound financial one. Grant and his wife had a reputation for living beyond their means, traveling the world in luxury, and spending money on fine dining. President Grant was also once ticketed for driving his horse-drawn carriage too fast through Washington, DC.

But the downfall of President Grant came after investing in a financial firm with his son. He was defrauded by his son’s business partner and lost $100,000, which forced him into bankruptcy.

Grant died pretty much broke. But he gave his family some financial security after his Civil War memoirs were published posthumously by Mark Twain.

Harry Truman

Finally, Harry Truman makes our list of presidents you wouldn’t want to take money advice from after a series of bad business deals forced him to move in with his mother-in-law.

Truman took over as President following FDR’s death and was at the nation’s helm at the end of World War II. However, before becoming involved in politics, Truman cycled through a series of businesses that largely failed, which meant that he was in serious debt by entering the White House.

While Truman managed to avoid filing for bankruptcy, he and his wife were forced to move in with his mother-in-law once he left office to help save money. He was also one of the first presidents to receive a pension, which amounted to $25,000 a year.

Final Thoughts

Just because someone is the free world leader does not mean they are knowledgeable or proficient in all areas. Especially when it comes to personal finance, you will find it isn’t just the average American who struggles to manage their money.

The above represents a list of bad financial advice from U.S. Presidents, plus a few more who struggled to manage their own finances.

Knowledge is power, but power does not always equal money.

This post originally appeared on Arrest Your Debt.

Due to the continually rising cost of electricity, solar installation has become quite common in recent times. Solar panels generate renewable energy by converting sunlight into solar power used to power homes and even industries.

It can be used as the primary source of energy or supplement, depending on the weather conditions. Even though generating electricity on your own sounds great, are solar panels worth it?

Many homeowners have turned to solar energy to power their homes and utilities, aiming to cut back on their energy bills. Even so, determining whether solar panels make financial sense depends on several factors.

As stated by the Center for Sustainable Energy, solar panel system installation costs anywhere between $15,000 and $25,000. So, are solar panels worth it?

Below are some factors that you should consider to determine if a residential solar investment is worth it.

Electricity rates in your area

Residential solar panel system installation costs

Installation financing methods

Sunlight availability in your area

Government policies and incentives

Maintenance cost

The average length of time a residential solar panel will last

Do solar panels safeguard the environment?

Table Of Contents show

Electricity Bill Rates

electric bill rates

More often than not, traditional electricity bills continue to rise year after year, which means an increase in your utility bill. Home solar panels use renewable energy to generate power, thus cutting back on your electric bill.

The higher your energy consumption, the more you stand to gain from these cutbacks on your electricity utility power bill when you install a solar panel.

Average Solar Savings

On average, you can save $17,696 over 25 years by switching to solar. This figure is derived from the average cost of installing home solar panels in most states, which is $16,177 compared to the electricity utility cost of $33,813 in the same span.

Therefore, solar energy is likely to bring down your energy bill by half, making it a worthwhile investment.

Remember, the amount of solar energy a panel generates is highly dependent on the weather conditions in your area. More sunlight translates to a considerably higher volume of generated solar energy, leading to low electricity kilowatts use, thus saving much more money.

If you live in areas such as Texas and the West Coast, you will save a lot more money on your electricity bill than people living in colder states.

Solar Panel Installation And Related Costs

solar panel installation costs

Much of the costs associated with home solar panels are incurred during purchase and installation. While solar panels may seem worthwhile in the long run, the short-term installation expenses may be overwhelming.

Generally, the cost of solar equipment installation is calculated based on the energy requirement of your home. The more energy you consume, the higher the installation cost, and vice versa. It is essential to calculate your electricity consumption rate before purchasing a solar panel to ensure it meets your energy requirements.

The average cost of installing a residential solar panel ranges between $3-$5 per watt. Remember, if you consume many kilowatts at your premises, the initial cost of installing a solar panel that meets your energy needs will be higher. Even so, when you calculate the amount of money you will save on your electricity bill, solar panels will save you a lot more.

Installation Financing Methods

As seen above, a solar panel can be quite expensive, especially for those with high energy requirements. Those with adequate cash on hand usually purchase these panels outright, mainly using cash or some form of credit. However, people who struggle financially may require a finance plan to buy a solar panel and have it installed.

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Depending on your energy requirements, electricity utility bills, and the weather conditions in your locality, you might consider a solar panel as an excellent investment if it cuts back your utility bill. To purchase one, it might call for you to use a refinancing plan to buy a solar panel.

The Power Purchasing Agreement

power purchase agreement

When you purchase a solar panel using a Power Purchase Agreement (PPA) or a solar lease, does this flexible plan deliver value for your solar project and an excellent overall investment return?

Primarily, you forego some rights to claim any incentives or credits when you use financing methods to purchase a solar system because the installer usually claims these rights because they own the networks.

These financing schemes also add interest to the solar purchase that digs into your energy utility savings over time.

Therefore, it’s correct to say that solar panels are relatively more appealing to those buying and installing the gadgets outright than those purchasing the solar panel via financing plans and a specific payback period.

Sunlight Availability In Your Area

Based on the fact that solar panels convert sunlight into renewable energy that’s used to power homes, it means you require a lot of the sun to power your solar panels. The more sunlight there is in a day, the more electrical energy you generate and save.

It is worth pointing out that not all areas receive suitable sunlight or even enough sunlight hours in a day to power the panel. In these colder regions, the use of solar panels may not be feasible. In drier areas such as California and Arizona, solar panel use to replace electricity is possible.

Besides, your home’s roof size and inclination towards the sun and the amount of shade also determine your solar system’s output. For maximum solar panel output, you need to have a larger roof size, minimal shade, and more inclination towards the sun. That way, a solar panel is more beneficial because its output is maximized.

Government Policies And Incentives

Continually changing Federal Government policies have a profound impact on the prices of commodities. Solar panels happen to be one of such items affected by recent government policy changes.

In 2018, a four-year tax tariff imposed on imported solar panels and cells substantially increased the amount of taxes paid. This taxation plan that began at 30% reduces yearly by 5% and contributes to a 16 cent per watt increase to the average consumer.

The policy mentioned above has a reducing effect over time, and so does the federal tax for solar panel installation. It means that investing in solar panel installation might be feasible at the moment, onwards to 2022, while the policy is still in place.

It can be hard to project what outcome to expect after the program is over, which leaves a limited time window to take advantage of the system in place.

Federal Tax Credits

federal tax incentives

Conversely, the government avails solar incentives to individuals who purchase and install solar panels, since solar energy is a form of alternate energy. Solar tax credits, like federal tax credits, allow taxpayers to claim a 26% installation cost for solar panels installed before 31st December 2020.

The amount is deductible on your federal taxes, allowing taxpayers to put money back into their pockets after carrying out a solar panel installation. However, these incentives vary per state and are determined by state policies.

Some local governments may even offer cash incentives or property tax exemptions depending on policies in place. However, with changing policies, such as the one stated above, these local incentives may not last. It means the time to benefit from solar installation is now.

Maintenance Cost

A standard solar panel system is designed to last for at least 25 years. During that period, the devices will require little or no maintenance, provided you clean the panels at least once a year to remove dirt and dust build-up.

If your area receives regular rainfall, cleaning may not be necessary as the rainwater will clean the panels. However, other parts of the solar panel system, such as the junction boxes, should be checked every few years to ensure they are watertight and sealed.

Apart from this kind of maintenance, no other form of care is required. It means that maintenance costs are minimal, and if you decide to do it yourself, no charges will be incurred at all.

The Lifespan Of Solar Panels

As stated earlier, solar panels are designed to last a minimum of 25 years. Even so, they can easily last up to 30 years, but this will depend to a large extent on the panel’s manufacturer and your maintenance strategies.

While some solar panels degrade over the years, losing up to 20% of the total energy output after 25 years, premium panels such as SunPower’s can last up to 30 years and still maintain an output of up to 92% of the total energy by the 25th year.

Such solar panels are worth it, more so in the long-run, because they last much longer while still maintaining a large percent of the total energy output. Appropriate maintenance provides a performance boost, helping deliver optimal energy output, with the solar panels able to act as an excellent substitute for electricity.

Do Solar Panels Safeguard The Environment?

solar panels and the enviornment

Solar panels create clean, renewable energy from sunlight, which is beneficial to the environment. Alternative forms of energy reduce the carbon footprint and have a positive environmental impact.

Because renewable energy does not emit carbon dioxide and other hazardous gases into the atmosphere, it effectively reduces the greenhouse gas effect on the globe.

So what are the adverse impacts of Greenhouse gases? Greenhouse gasses are emitted when fossil fuel is burned. Because fossil fuels are commonly used globally, these gases leave a significant carbon print. The greenhouse gases cause global warming and other catastrophes, making alternate forms of energy a necessity.

Solar is one form of alternate energy that converts the sun’s energy into usable energy. It helps reduce the global carbon print safeguarding the environment.

The Environmental Impact Of Switching To Solar

As a primary form of renewable energy, solar energy is relatively inexpensive to produce. An average home in Connecticut consumes 8,288 kilowatt-hours (KWh) of solar per year. It shows that even a single home turning to solar energy has a significant positive impact on the environment.

The total upshot of switching to solar power for the whole state would benefit the ecosystem, equating to planting approximately 150 trees per year. This renewable energy source is a viable option for our current needs.

New York Energy Consumption

Here’s another relevant case in point. In New York, the average electricity consumption rate per home is 7,248KWh. Considering that most of America’s electricity is generated from fossil fuels such as natural gas and coal, New Yorkers leave a massive greenhouse effect on this earth from electricity alone.

If this population were to turn to clean energy, such as solar energy, they would eliminate the need to burn over 5,000 pounds of coal, reducing the greenhouse effect significantly.

Based on the above facts, from an environmental perspective, switching to solar energy is worth it. It reduces air pollutants in the environment. The reduction of air pollutants goes a long way in safeguarding the environment and consequently ensuring that we have a healthy population free from chronic bronchitis, cardiovascular problems, and other respiratory health issues.

Do Solar Panels Increase The Value Of My Home?

solar panels and home value

Does buying a solar panel system add to the value of your home? For those of you considering selling your homes preinstalled with solar panel systems, the good news is that solar panels do increase your home’s value.

A recent study showed that homes with solar panel systems fetched more market value than those without solar panels. Zillow’s survey concluded that the market value added by solar panel installation on your home increased by 4.1% on average.

It means that solar panel installation puts money back into your pocket and boosts your home’s value, making it a worthy investment.

The above context goes a long way to show you the advantages of purchasing and installing a solar panel system. However, it is worth noting that the boost on your home’s value by solar panel installation depends on your state and locality.

Solar Power Return Rates Vary By Location

Some states, such as North Carolina, New Jersey, and Pennsylvania, have higher solar home return rates than other states. New Jersey has home premiums for homes with solar panels at 9.9% higher than homes without solar panels.

According to the survey, other states all had a 4.85% average increase in homes with solar panels. It means that the returns on your investment in these states are higher.

It is essential to research the policies and market conditions in your state to determine if solar panel installation will boost your home price. In California, the state government has passed legislation requiring all new homes to install solar panels.

This strategy aims at increasing the value of homes as the property market will gain from the solar panel installation. Besides, it also saves homeowners an average of $19,000 in 30 years and boosts their homes’ value.

How To Get The Best Deals On Solar Panel Purchase And Installation

how to save money on solar panels

Like any other investment, it is crucial to ensure you secure the best deals when buying and installing a solar panel system. It’s good to be armed with the correct information to secure the best solar panel deal. As discussed above, solar panels can be worth it, making them a significant investment.

So, how do you ensure you secure the best discount on solar panel purchase and installation?

Research to determine the best cost in your area

Purchase from reputable brands

Research your installer’s reputation and credibility

Explore various financing options

1. Research To Determine The Best Costs In Your Area

It is vital to research and know the costs of buying and installing solar panels in your locality. Visit various websites and stores to learn the expenses you will incur should you decide to install a solar panel system in your home.

Also, some states have websites that contain information on the average costs of solar panel purchase and installation. Visit them to determine state average prices and related financing plans.

2. Purchase From Reputable Brands

Generally, solar panels are divided into three categories:

Tier 1 solar panels

Tier 2 solar panels

Tier 3 solar panels

Tier 1 solar panels are the best and the highest quality. They have large modules and are designed and manufactured by established manufacturers. They are linked with large-scale solar production firms. These solar panels design and build, pass the required tests, and can last over 25 years. However, Tier 1 solar panels tend to be expensive.

Tier 2 and Tier 3 panels are designed and manufactured by smaller and newer companies. These companies can lack considerable credibility. As expected, they are cheaper than Tier 1 solar panels. Tier 2 and Tier 3 solar panels typically do not have a track record, mainly because they have not passed the 25 years lifetime test.

3. Research Your Installers Credibility And Reputation

To top up your solar panel brand choice, your solar panel system installation company is equally vital. You should ensure you get a solar company with an excellent reputation to ensure your solar panel is installed correctly.

Another factor to consider in a reputable installer is their availability in the event something goes wrong, or professional maintenance is required.

4. Explore Various Financing Options

Should I Finance Solar Panels?

Finally, to ensure you get the best deal out of your solar panel installation, it is essential to choose the right financing option that will save you money. For those who can’t afford to buy a solar panel outright (the best option), having the right financing option is crucial.

A vast majority of solar companies offer to connect you with a financing service. However, it is recommendable to ascertain if you’re eligible for a credit home equity line (HELOC). HELOCs tend to have lower rates, averaging at 4.5% to 5.5%.

Other financing options, such as unsecured solar finance, have slightly higher rates averaging at 6% to 8%.

You can also consider PPAs or a solar lease. While they translate to lower savings for you, they’re a suitable financing alternative if loans or outright purchases are not feasible options.

Final Verdict – Are Solar Panels Worth It?

So, are solar panels a good return on investment? As seen above, based on facts and figures, depending on where you live, solar panels can definitely be worth it and save you a significant amount of money.

Purchasing and installing a solar system in your home can be a good investment. Not only does it cut back on your electricity utility bill, but it also allows you to have tax breaks after purchases based on the current government policies and incentives.

As seen above, depending on where you live, solar energy can enable you to trim down more than half of your energy bill in 25 years.

What’s more, the incentives are the highest they’ve ever been, and will also put more money back into your pocket when you turn to solar energy. Besides, the boost in your home’s value is significant, with an average of 4.1% increase in homes installed with solar panel systems.

As seen, some states fetch much higher amounts for households with a solar panel system. It goes a long way to prove that solar systems are worth it, especially in 2021 and beyond.

This post originally appeared on Arrest Your Debt.

For honest debtors in difficult financial straits, bankruptcy offers a fresh start. This clean financial slate includes a discharge of many of your debts and the halting of collection efforts. In some cases, a single bankruptcy might not solve all of your financial woes or prevent the onset of new challenges.

But can you file bankruptcy twice?

As you’ll see below, most unsecured debts disappear in bankruptcy. Over time, the clean slate opens the door to renewed offers from credit card companies and other lenders for you to borrow money.

In particular, the passage of time and the opportunities to rebuild credit may encourage you to open new accounts. With the new debt, though, comes the risk that an unforeseen job loss, sickness, or urgent home or vehicle repairs will dwindle your resources.

If you are not careful, you might see debt mounting to the point that you cannot repay or control it. When a second filing becomes necessary, the question arises whether you’re permitted to do it.

Generally, bankruptcy law does not prohibit repeat bankruptcy filings.

However, refiling might not bring you the benefits afforded by the bankruptcy law. Whether it does, depends on the previous bankruptcy case you filed, when you filed it, and how the original case ended.

A Primer On The Benefits Of Bankruptcy

The Discharge

The main power of bankruptcy lies in the discharge of a filer’s debts. Upon completion of your bankruptcy case, you no longer stand responsible for most of your debts. That is the case even if the creditor is left not fully paid or even paid at all.

Generally, a discharge eliminates your responsibility to unsecured creditors. Holders of unsecured claims do not have a lien or interest in your property to which your debt attaches. Even with secured debts such as a mortgage or car loan, you no longer have personal liability.

However, the security interest or other lien survives bankruptcy. If your financial situation deteriorates, your home might face foreclosure even if you otherwise cannot be held responsible for paying any difference between the amount of debt and the collateral value.

The discharge also brings a stay against future collection efforts by unsecured creditors. You can use the discharge as a defense against subsequent lawsuits. Creditors who send collection letters, demands, or sue on discharged debts might face the court’s sanctions.

Debts That Are Not Discharged By Bankruptcy

debts not discharged by bankruptcy

Federally-backed student loans

Domestic support obligations, such as alimony and child support

Debts that arise from embezzlement and acts of fraud, such as misrepresenting your income, financial condition, or other important facts on an application for a credit card, mortgage, or other personal loans

Certain taxes, but you may have income taxes discharged in a Chapter 7 case (see more on Chapter 7 below)

Amounts assessed by criminal restitution orders

Government fines or penalties

Debts covered by a reaffirmation agreement that is approved by the Bankruptcy Court

Creditors of most non-dischargeable debts do not need to take any action to preserve such a status. However, debts that come from fraud or embezzlement do not automatically become dischargeable.

Such creditors must file a lawsuit in the bankruptcy case, known as an adversary proceeding, to get a ruling by the court that the debt is discharged. These types of actions come with filing deadlines.

The Automatic Stay

In most bankruptcy cases, the court will impose an automatic stop to any collection efforts when you file for bankruptcy.

Unless lifted by the court, your creditors cannot do any of the following during the bankruptcy proceeding:

Start or continue a lawsuit

Attempt to foreclose, garnish wages or seize your property

Obtain, record, or otherwise perfect any mortgage, security interest, or other liens

Demand in any form, including in writing or by phone that you pay on a debt

Threaten to file a lawsuit or take any other action if you do not pay the debt

Creditors who disobey the automatic or other stay orders face significant sanctions from the court. If you believe a creditor has violated the stay, contact your experienced bankruptcy attorney promptly to get the creditor to cease the offending actions or file a motion for sanctions.

Note that the automatic stay affects only those creditors you have listed on your bankruptcy papers or who have been given a notice that you filed for bankruptcy.

That makes it essential for you to tell your bankruptcy lawyer and the court all parties who have claims against you. Neither the automatic stay nor discharge applies to any creditor you failed to identify on your papers and who did not notice your filing.

The Types Of Bankruptcies

different types of bankruptcies, can you file bankruptcy twice

The complication in multiple bankruptcy filings lies in the waiting period before the second or subsequent filing results in discharge. The period depends upon what kind of bankruptcy you first filed.

As such, an understanding of the two types of consumer bankruptcy: Chapter 7 and Chapter 13, is in order.

Chapter 7 Bankruptcy

If you filed a previous Chapter 7 Bankruptcy, you likely did so because you could protect all of your assets from being used to pay unsecured creditors.

This is because a Chapter 7 case involves a liquidation, at least theoretically, of your non-exempt assets.

A Chapter 7 trustee collects and sells that property that you cannot protect and applies it toward paying your unsecured creditors. For most filers, the bankruptcy law determines what property you can exempt from use to pay your unsecured debts.

If you live in a state like North Carolina, that state law will set your exemptions’ type and extent.

By way of illustration, common exemptions for debts include those for:

Your equity in your principal home, up to a certain value

Your equity in a motor vehicle, up to a certain value

Individual Retirement Accounts

Household and personal items, such as appliances, home electronics, clothes, furniture, and yard tools

Jewelry

Proceeds from personal injury suits or settlements

If you could exempt all of your property, you would likely be an excellent candidate to file Chapter 7. In such a case, you obtained a discharge of most of your debts without having any of your property sold to pay toward any of those debts.

The Chapter 7 approach may not be available in a second filing (or even a first). As you might have remembered during your original filing of Chapter 7, you had to satisfy a means test to qualify for Chapter 7.

Whether you’re eligible for a second case depends on whether you have enough disposable income to make payments in a Chapter 13 plan. The means test takes your gross (pre-tax) income, excluding Social Security payments and a few other selected income sources, and subtract it from certain deductions.

The items you can subtract are related to mortgage and car payments, household expenses, car maintenance expenses, taxes, and educational expenses, to name a few. Guidelines used by bankruptcy trustees preset some of these expenses based on Internal Revenue Standards and where you live.

Some debtors can satisfy the means test based solely on the fact that the gross income, based on the number of people in the household, falls below a median number for the debtors’ particular state.

Otherwise, the gross income less expenses cannot go above a certain level. If the disposable income sits north of your state figures, you will likely have to file a Chapter 13 to stay in bankruptcy.

Chapter 13 Bankruptcy

The other Consumer Bankruptcy lies in Chapter 13, which provides for a discharge of most debts after you have completed a repayment plan. If you have to file a second Chapter 13 Bankruptcy or had to do so the first time, it was likely because you either failed the means test, had more property than you could exempt, or were behind on your mortgage and foreclosure was imminent already in process.

In Chapter 13, you pay in monthly installments for three years or five years your disposable income to a trustee. If you are behind on your mortgage when you file Chapter 13, some of your monthly payments will go to cure the amount you are behind. If your current on the mortgage, you can continue to pay your lender directly.

Aside from the mortgage, most of the Chapter 13 plan payments go to pay your car payment, back taxes, credit card companies, personal loan lenders, and other unsecured creditors. The amount you have to pay per month usually depends upon your disposable monthly income.

You use the same data as you would in Chapter 7, except that Chapter 13 allows you to deduct your disposable income any repayments for retirement loans or amounts deducted from your paycheck for your retirement plan.

The Waiting Periods Between Bankruptcies

The type of consumer bankruptcy you file shapes how you get a discharge in the first case and how long you must wait after the first or previous case to file a second one and get a second discharge.

Specifically, and assuming you got a bankruptcy discharge in the first case, the time you must wait depends on your original filing date.

Waiting Period For Multiple Bankruptcies

Chapter 7 followed by Chapter 7 -Eight years

Chapter 13 followed by Chapter 13 – Two years

Chapter 7 followed by Chapter 13 – Four years

Chapter 13, followed by Chapter 7 – Six years, unless you paid your unsecured debts in full in the Chapter 13 case, or you paid at least 70 percent of the claims filed by your credits in the Chapter 13 case, and you entered into the Chapter 13 plan in good faith.

All of these time periods begin to run from the filing date of the first bankruptcy case. The interval of eight years does not apply if you did not get a discharge in the initial Chapter 7 case.

Why File Even If No Discharge In The Second?

The fact that a second bankruptcy is too soon for a second discharge does not necessarily mean filing for bankruptcy twice is useless to you. After the first bankruptcy, you might fall behind on payments or owe taxes you cannot repay.

By filing a subsequent Chapter 13, you obtain the benefit of the automatic stay. This prevents your mortgage holder from proceeding with a foreclosure hearing or sale without permission from the bankruptcy court.

The automatic stay also stops creditors from collecting back taxes or other debts. While the stay remains in effect, you can pay off your mortgage arrearages, back taxes, or other delinquent debts.

Filing a Second Bankruptcy When The First Was Dismissed

A second bankruptcy filing after your first case was dismissed does not prevent a discharge but affects whether and when you get the benefit of an automatic stay.

Whether you have waiting periods for an automatic stay depends on why your case was dismissed and whether you filed the last case under Chapter 7 or Chapter 13.

The General Rules Of A Stay And Repeat Filings

What Actually Happens When You File For Bankruptcy

You do get an automatic stay if you file a second bankruptcy petition within a one year period after the first case was dismissed. However, the stay lasts only 30 days from the date you file unless the court grants you an extension.

To keep your creditors at bay beyond the initial 30 days, you must file a request for it by the 30-day time limit and convince the court that you have filed the petition in good faith. If you have repeat bankruptcy filings, an automatic stay’s prospects become more challenging for you to realize.

If you had two dismissals within a year of filing the current case, you do not get an automatic stay upon filing. Instead, you must request a stay within 30 days after you file and must demonstrate good faith. Not having an automatic stay at the moment you file means that unsecured creditors may file lawsuits, obtain judgments, and even enforce them after you file bankruptcy.

Debtors in foreclosure particularly need to ask for a stay. Typically, a foreclosure becomes final when the time for buyers at a foreclosure sale to submit bids expires. If you have allowed the process to progress far when you file, you might find that you have precious little time to stop your home’s loss.

Good Faith

Filing bankruptcy in good faith means that you are using the bankruptcy code to obtain a fresh start and repair your finances truly. When the circumstances indicate that you are abusing the bankruptcy process, courts may find that your filing is in bad faith and deny you the benefits of bankruptcy, such as an automatic stay or discharge.

Often, bad faith manifests itself when a debtor files merely to stop some legal proceeding such as a foreclosure or lawsuit and shortly thereafter dismisses the case or otherwise fails to follow through with the necessary actions to get a discharge.

While not an exhaustive list, certain signs of bad faith include:

Filing a Chapter 13 on the eve of a foreclosure sale, only to not propose a feasible repayment plan

Accumulating expenses shortly before filing to qualify for filing Chapter 7 rather than having to enter into Chapter 13

Concealing or under-reporting income and assets

Obtaining large amounts of credit before filing

Not filing required documents, such as schedules of assets, secured claims, unsecured claims, income and expenses; Statement of Financial Affairs, and Statement of Current Monthly Income

Lack of good faith efforts to make plan payments

Acquiring significant assets shortly before filing in an attempt to have the newly-acquired property exempted from claims of creditors

In fact, in some states, you may not be entitled to exempt property you obtain within a certain filing period.

180-Day Bars And Bankruptcy Law

The bankruptcy law allows a court to bar you from refiling for 180 days after dismissal in certain instances.

One trigger occurs when you voluntarily dismiss your case after a creditor has filed a motion for relief from the bankruptcy stay. In particular, Chapter 13 debtors face motions for relief from stays by mortgage holders or vehicle lenders.

These creditors seek relief often because a debtor has failed to protect the collateral by maintaining insurance or have consistently missed payments. Your ability to adequately protect a secured creditor’s collateral can forestall motions for relief from stays.

Failing to follow court orders or pursuing a bankruptcy discharge may also result in a 180-day filing bar. Courts often apply these bars for serial filers whose cases are dismissed for repeatedly failing to make plan payments, produce documents, failing to attend hearings or creditor’s meetings, or complying with court orders.

Avoiding a 180-day bar is crucial if you wish to stave off foreclosure. While specific state procedures may differ, six months constitutes a typical duration of a foreclosure proceeding. This assumes that the lender or other mortgage holder hasn’t already started the foreclosure before filing the bankruptcy.

In many cases, you might already find yourself in a proceeding. Indeed, the existence of it likely prompted you to file for bankruptcy in the first place.

Lawsuits, at least those you cannot reasonably contest, can take well under 180 days to complete from initiation to judgment. Once you’re served, you have only a specific time – such as 30 days – to file an answer to the complaint.

In cases involving credit card debt collection, past-due rent, or unpaid medical bills, your defenses are likely limited or even non-existent. Many lawsuits to collect debts from you likely do not go beyond a couple of months.

Alternatives to a Second Filing

The prospect of an automatic stay should not be the controlling factor in filing a second bankruptcy. As you experienced in the first filing, the process involves mandatory credit counseling and financial management courses, meetings with the trustee, and perhaps hearings before a bankruptcy judge.

To stop a foreclosure, consult your lender or mortgage servicer for modification options. You might extend your loan length and roll over the amount in default into a new loan with a new rate and length, such as a new 30-year term.

A forbearance might buy you additional time to catch up or get to a place where your second filing can lead to a discharge of unsecured debts. In forbearance, the lender delays in enforcing its right to foreclose.

Some mortgage holders might forgive at least a portion of the debt, relieving you of the obligation to pay it. However, except in a bankruptcy discharge, the forgiveness of a loan may represent income for which you may owe taxes.

Contact a bankruptcy lawyer for a free initial consultation of your financial situation and your options should you consider a second filing or whether you have never before been in a bankruptcy case.

This post originally appeared on Arrest Your Debt.

While I don’t know your exact situation, I’m guessing that starting over at 50 was not something you ever thought about or planned for. The social narrative that governs our lives for decades is that of a linear progression.

You go through elementary school and high school, with some people moving on to higher education. Conventional wisdom dictates that these years in the school system give you the tools you need to find a high paying vocation in adult life.

Once you have a job, you work and set aside funds for your predetermined life choices. You may want to buy a car and a house, start a family, and work until you retire. By then, you should be covered by social security and health care insurance.

Unfortunately, the grim reality is this scenario doesn’t always play out. On the contrary, in an unstable world, volatility in your finances and personal life is likely. The paradigm of boom and bust economies leaves many out to dry. No matter how well you’ve done in life, having to start over at any moment is a real possibility.

Fortunately, you can start over many times in life regardless of your age. No matter how hard you fall, with a little ingenuity and a healthy work ethic, there is no financial hole you cannot rise from. However, it’s going to take a few changes in your lifestyle and possibly a change in perspective.

Starting Over At 50 Years Old vs. As A Young Adult

It’s much easier to make structural changes to a building when digging the foundations than finishing up the roof. A recent college graduate working for a few years can quickly switch gears and recover from adversity. After 50, such a recovery becomes more complicated.

There is a growing cultural bias of aging that older adults face. Many of the issues that younger people have to deal with for the first time, older folks see for a second or third round. Things such as raising children, marriage, death of loved ones, and health issues are familiar ground for those over 50.

Although young people are adaptable due to their age, life experience is a check in the advantage column for you. The tricky part seems to be putting that life experience to work in a world where things are rapidly changing. By building up your resolve and exhibiting resilience, life experience can be applied to your current circumstances.

Hitting Rock Bottom

Experiencing a devastating midlife crisis can be more than just struggling to come to terms associated with aging. The loss of your support structure can cause even the healthiest individuals to go into panic mode.

Bankruptcy

More and more older Americans see their finances in dire straits. Ideas like retirement, which have always been a part of the American psyche, are being questioned.

Retirement plans, pensions, and savings are vanishing in thin air, with many people beyond the age of 65 having to work. Many have to wait longer for full Social Security benefits, and pension plans require more out-of-pocket contributions.

While only 2.1% of people over 65 filed for bankruptcy in 1991, that figure is now over 12% according to the New York Times. This is a worrying trend as more people are approaching retirement without financial security.

Divorce

Divorce is a significant obstacle in people’s lives. You spend 10, 20, or even 30 years with someone, and all of a sudden, your common path splits apart. Although separations can be amicable, a divorce is enough to send anyone’s life into a tailspin.

For those over the age of 50, the term “gray divorce” describes the separations rate increase. Indicative of this trend is the fact that the divorce rate in this age group is now 25%. This is a far cry from the 10% rate in 1990.

Illness Or Injury

A severe health issue is enough to knock anyone off the path of life. In an environment with pollutants, foods high in preservatives, and stressful working conditions, maintaining good health is challenging. Work accidents, sudden illnesses, or pandemics are all health hazards of the modern world.

Emotional Trauma

The over 50 age group often overlooks emotional health. Any of the previous life obstacles can trigger trauma and debilitating emotional mental health issues.

Unresolved childhood trauma can persist into your 50s and beyond. These hidden issues can exacerbate your path to starting over.

What The Statistics Say

Between 1991 and 2016, the percentage of people aged 65 to 74 declaring bankruptcy increased by 204%. This is a sharp increase and shows the extent of the problem in older Americans.

On average, single people without children between 55 and 64 have almost $6,800 in the bank. Singles with children have about $6,900. Couples in the same age group tend to have a little over double the amount, around $16,000.

Starting Over At 50 With No Money

Starting over at 50 with no money may seem scary. The last time you remember someone handing you money without working for it is may have been as a teen or in college. It’s a cool thing to have your parents as a safety net when you’re young. The tricky part is when you’re older, and life pulls the rug out from under you.

It may seem that those with a buffer in a savings account may have a cushion to ease their fall. But what happens if you’re starting over with no money at all? It may sound strange at first, but you can turn it into an advantage in these trying times.

Rainy Day Funds And Emergency Savings

Having a rainy day fund is a prudent goal. It can also work against you if you allow it to. Those with an emergency fund or additional savings may have a lesser sense of urgency to seek a new income stream. A few thousand dollars can run out for people who are not particularly good with financial planning before they know it.

Starting over while being broke will trigger a sense of urgency. The survival instinct that evolution gifts humans is a powerful force. By clearing your head and focusing on the task at hand, you can enter into a flow state.

In a flow state, everything seems more evident, and your actions become extensions of your thoughts. By reducing stress and relaxing your body, a clear path forward will reveal itself to you. After all, you have successes in your life to draw on and better days ahead of you.

Focus On Your Goals

Focus on achievements from your past. What did you feel when you were pursuing them? Try reliving it in your mind. In the present, think of what you feel as you achieve that goal. Now, transfer that to your current state. What are your goals at this moment?

See yourself landing the job that will get you out of your current predicament. Envision the successful job interview you will have. Imagine it as if it has already happened. If you are coming out of a divorce, envision your new life. See yourself happy and healthy in your new environment. Money is essential, but a lack of it will not stop you from starting over and achieving financial stability in the near future.

Determining Whether You Need A Career Change

An important issue you will need to resolve is that of your career. You have likely spent decades in the same field until now. Since you’ll be making a new beginning, will it be in your current niche, or will you seek to change?

This depends entirely on your circumstances. If you have a good reputation in your field or a large clientele, you may not need to change niches. Maybe you lost a job in sales, but you have an extensive list of customers that trust you. You can leverage your standing with them to either move to a different company or start a business of your own.

On the other hand, the hard reality is your current occupation may have run its course. It may be time to branch out into a new career. Make a note of your best attributes and see how you can apply them to a field of your choice.

Spending your entire life in a job that doesn’t offer fulfillment is no way to live. When moving forward, be sure to engage in something that balances your preferences with your subsistence. The last thing you want to do it waste time pursuing something that doesn’t offer you financial freedom. This can be a painful setback in your effort to start over.

Bounce Back From Bankruptcy

Bankruptcy doesn’t have to define the rest of your life. It is a temporary situation that you can remedy in due time with some diligent behavior.

For those who have a job, an excellent initial goal is to set aside three months’ worth of income. This safety net will increase with time but start with an attainable goal. Furthermore, saving 10-20% of your monthly income can put you back in charge of your finances.

Building your credit one step at a time will allow you more breathing room. Sign up for a secured credit card. This is a credit card with a credit line based on an initial deposit. By making small purchases, you can build your way up to a traditional credit card.

Moving Toward Your Full Potential

Humans function at their best when they achieve their full potential. People often get into a daily routine that runs on autopilot. This every day, almost scripted, regimen distracts you from becoming the best version of yourself.

Putting yourself in uncomfortable situations will cause you to rise to the occasion. A new job will make you break out of the mold that has kept you trapped until now. Starting a business of your own will cause you to take on many roles. The more you seek to grow, the more strengths, skills, small victories, and abilities will appear turning you into a valuable asset. Force yourself to get out of your comfort zone and try new things.

Reinventing Yourself

It is reasonable for people with many failed past relationships to ask what the common thread is. The obvious answer is the person in question. However, you shouldn’t beat yourself up over the past. At the same time, it is essential to reinvent yourself to overcome the mistakes of the past.

Achieving results is a matter of finding the right tactics and strategies to follow. However, you should contemplate who you need to be to get the place you desire. Who do you need to become to get a new job, start a business, or meet someone new? What qualities do you need to possess to achieve your goals? By taking full ownership of your situation, you will start to see how many doors begin to open for you.

7 Changes To Boost Your Efforts While Starting Over At 50

Starting over doesn’t have to mean a hard reset. You aren’t deleting your past. Everything that transpired for you to get here is the prologue to your new beginning. In re-evaluating your life and making the necessary changes, there are a few tips that will make your efforts more productive.

1. Downsize

Overcoming a difficult financial situation is as much about reducing expenses as it is about increasing your income. You need to stop the bleeding before you can recover and grow again. Downsizing your life for as long as it takes to get your books back in the positive is a necessary step, even if that means renting a tiny apartment. Your beautiful home and high mortgage payment may be crippling your ability to make progress.

Start with the things that are easiest to cut and have the smallest impact on your life. This process will become much easier when accompanied by a breakdown of your expenses. Take the time to record all of your current living expenses and rank them according to their importance.

Short Term Sacrifices For Long Term Goals

Furthermore, be willing to squeeze a few extra dollars from things that you may deem essential at first glance but may be open to trimming. For instance, do you need your mobile contract? Estimate how much phone time you need and get a pay as you go plan that meets your needs. What about your landline and internet plans? Do you need the highest speed and bandwidth your service provider offers?

When downsizing, the more you can trim from your budget, the more room you will have to pursue your financial goals. It may be a hassle, but moving to a small apartment can save you hundreds of dollars. Consider using public transportation or even selling your car. You can always buy another one when you structure your life in a viable manner.

Other areas that provide potential cost-cutting opportunities are gym memberships, entertainment, cable television, and streaming services. Depending on your needs, you can potentially trim enough money off your monthly expenses to make a difference in your goal-setting.

2. Finding The Right Career Coach

Finding a knowledgeable consultant to guide you in your efforts can save valuable time. A career coach can be someone that works in a field you are looking to enter. It can also be a professional recruiter. It can even be a friend or former colleague that has the network to help you on your way.

Be careful not to invest in time-wasters. Most people want to be helpful, but not all have the means to aid you in your journey. Their intentions may be pure, but your circumstances require that you find gainful employment as soon as possible, even if that means an entry-level position. Try and find a success expert that successfully helps people achieve their career goals. You don’t want to spend time with people that talk a lot as a means of self-validation. Try out different coaches until you find one you can make a real connection with.

3. Acquire Marketable Skills

If you think that you can’t teach an old dog new tricks, you should first undergo a mindset shift. Secondly, if you believe education ends in college, you look at your resume building in a limited manner.

What kind of skills does your desired field of employment require? Seek out courses that offer you the appropriate knowledge. This can be at a community college, an online course, or even videos and tutorials online. The more skills you add to your arsenal, the greater the chance that an employer will hire you.

4. Avoid Information Overload

Information overload is the bombardment of your senses with so many stimuli you freeze up. This can be a devastating trap for people looking to start over by entering a new field. Consider how social media works. There are so many conversations going on simultaneously that it’s hard to focus on one thing.

If you’re looking to make money online, the possibilities are practically endless. A simple search on YouTube regarding the topic of making money online will produce thousands of results. There is an infinite number of suggestions for business opportunities.

Whether you’re thinking of starting an e-commerce website, a YouTube channel that you will use to build an audience, or merely advertising your offline services, stay focused. Jumping from one business idea to the next is an excellent way to never really get started with anything.

Many people start a business on the internet with dreams of making it their full-time job. However, with each new opportunity that avails itself, they drop the idea and move onto the next one. In the marketing world, this is called shiny object syndrome. This condition is akin to a cat chasing a laser around the floor.

5. Leverage Social Media

Whether you’re building a business online or getting your skills out to an audience, using social media is critical. LinkedIn is a social network geared towards professionals. Creating a full profile on the website with examples of your work will attract potential employers. Also, you can use LinkedIn to show your proficiency in certain areas.

Facebook, on the other hand, is a good place to build a network in a less business-driven environment. Post your skills and contact friends about potential job opportunities.

6. Choose Proper Life Partners

Life partners aren’t only the people you choose to share your life with on a personal basis. Your financial health can come down to finding the right business partners or employers. Choose to spend time with stakeholders in the types of things you want to invest your time in. Networking is an integral part of your job search, and you should attempt to use it to your advantage.

7. Give Back

This may be the essential ingredient in your efforts to start over. It seems counter-intuitive, but giving to others when you seemingly have lost everything can make a difference. No financial asset can compare with the feeling of giving to others. Also, giving when you have very little to provide shows resilience and strength of character.

Some people only give when they have amassed riches, and even then, it comes at a price. However, you will be surprised at how the universe works. When you extend a helping hand to others in greater need than you are, it will change your perspective on life. You will find amazing things that will manifest in your life when you show strength.

Extend a helping hand out to those that have a hard time. Though there may be no law of karma or reciprocity in the real world, you will find that you are building goodwill by volunteering to help others.

Move Forward With Confidence

Starting over at 50 requires living with confidence and an uphill battle. Take a deep breath and have faith in your ability to adapt to meet the challenges that lay before you. After all, you have five decades’ worth of life experience to draw from. There is no age limit on success, and no one can dictate whether you can change course and begin again.

Life is a series of challenges that define who you are. Your character is as much about your values as it is about your accomplishments. Though life presents some tough roadblocks, starting over at 50 or at any other time in your life should be a challenge that you accept wholeheartedly.

With the proper mindset, the right knowledge, and the guidance of a life coach, your midlife restart can be more glorious than anything you’ve accomplished before, and come out on the other side as a better person.

There is no ideal time to move forward. Muster your strength and follow your intuition. Visualize the journey and manifest it into your reality.

This post originally appeared on Arrest Your Debt.